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The ANRPC reports that the Chinese economy grew by 3.2% in during the second quarter of 2020 (April to June) by beating the expectations after the 6.8% fall in the first quarter. By providing evidence of improving manufacturing activity, the manufacturing Purchasing Mangers’ Index (PMI) of China touched 51.1 in July. In the U.S., in a major initiative to revitalize the economy with expanded employment benefits ahead of the presidential elections to be held in November, a trillion-dollar coronavirus aid package is in the process of approval. Driven by stimulus policies and improving economic activities in China, the U.S., and other major consuming countries, the world consumption of natural rubber (NR) is anticipated to enter into positive territory by increasing 2.6% year-on-year growth during the three months from August to October 2020 after the 15.0% fall posted in the first half of the year, and 2.7% fall in July.
Tyre Stewardship Australia (TSA) reports that Australia’s largest trial of asphalt produced from recycled tyres across six Adelaide council areas is set to pay dividends for the environment and the South Australian jobs market, paving the way for a new asphalt manufacturing facility worth around $5 million in Lonsdale. Adelaide-based Topcoat Asphalt expects to significantly boost local production of crumb rubber asphalt using waste tyres following the trial, funded by Tyre Stewardship Australia (TSA), with support from Tyrecycle Australia.
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