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August 05, 2020 08:34 AM

Michelin notes decline in first half raw materials costs 

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    Clermont-Ferrand, France – Groupe Michelin has reported a €44 million decrease in cost of raw materials in the first half of 2020, compared to the year before, due to lower prices.

    The French group's raw material purchases amounted to €1.8 billion in the first half, with natural rubber and synthetic rubber comprising just under half of the purchases, Michelin announced 27 July.

    michelin-raw-materials-h1-2020

    During the period, Michelin said, average cost of TSR20 natural rubber stood at $1.2/kg, down from an average of $1.45/kg registered in the first half of 2019.

    Butadiene prices tracked the crude oil downtrend during the first half, posting a 46% quarter-on-quarter decline to €392/tonne in the second quarter.

    First half average prices stood at €560/tonne, down 36% from the €882/tonne average in the first six months of 2019.

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