A fire broke out in a logistics park in Jimo district, Qingdao, Shandong province on Dec. 1-2.
The fire affected over ten thousands of tons of natural rubber and may impact the raw material supply to some tire producers.
COSCO Shipping Logistics Warehousing Distribution Co., Ltd. is one of the victims. It released an announcement on Dec. 3 reporting the losses during the fire and natural rubber of 36,577.523 tons have been affected.
Currently, Shanghai Futures Exchange has urged the transaction warehouse to arrange the follow-on works.
The storage base’s natural rubber futures transaction business has been suspended, and the losses may be hundreds of million yuan.
