Global NR production up to November 2024 reached 12.7 million tons, a rise of 2.4% compared to the same period of the previous year. Meanwhile, global NR demand reached 13.9 million tons, a rise of 0.5% compared to the same period in 2023. Overall, the fourth quarter of 2024 is forecasted to experience a seasonal increase in supply of raw materials that partly leads to a fall in NR prices.
Based on the performance and updates from ANRPC member countries (AMC), the outlook for global NR production remains unchanged, with an anticipated annual growth of 4.5% following a slight update on the forecast of China. The global outlook of demand growth for 2024 has been revised upward by 1.4% following a revision in the rest of the World. Further details can be found in the report.
Source : ANRPC