TOKYO — International prices for natural rubber are plummeting as price cuts by major Chinese electric vehicle maker BYD triggered concern that a possible price war in the country’s auto sector will weigh on tire prices.
Benchmark rubber futures on the Osaka Exchange fell 4% on June 3 to 280 yen ($2) per kilogram, the lowest price since Febru 2024. Though futures prices had tumbled after U.S. President Donald Trump announced his sweeping tariffs in early April, they rebounded later as tariff tensions between Washington and Beijing eased.
