Procurement Resource

 In the first quarter, neoprene rubber prices in Asia experienced a surge until February, followed by a decline in March triggered by a pricing war initiated by Tesla's entry into the automotive sector. The entry led local manufacturers to reduce automotive prices, resulting in destocking and adversely affecting neoprene rubber prices. The second quarter witnessed a recovery, marked by increased demand for neoprene rubber in the tire, pharmaceutical, and automotive sectors, coupled with a rise in overall industrial activity. In Europe, prices in the first quarter saw growth due to heightened demand from downstream industries and recovering sectors. However, the second quarter witnessed a gradual decline, influenced by a loss of industrial momentum and decreasing energy and production costs. In North America, neoprene rubber prices exhibited fluctuations, initially rising with the recovery in the automobile sector and semiconductor influx. However, the second quarter faced challenge...