Beijing – Over 59% of China’s rubber industry companies expect their revenue in the first half of 2020 to fall at a rate between 10% and 30% compared with 2019 due to the impact of the coronavirus outbreak since January.
Nearly 13% of the companies expect their revenue decrease rate to be between 30% and 50%, said a survey by China Rubber Industry Association.
The survey was handed out on 7 February and received 250 responses by 12 February.
Nearly 48% of the companies surveyed reported annual sales of between €13 million and €132 million (100 million yuan and 1 billion yuan); while 18% of the participants had sales of between €6.6 million and €13 million.
Full report to appear in European Rubber Journal's March/April 2020 issue