Michelin notes decline in first half raw materials costs 

Clermont-Ferrand, France – Groupe Michelin has reported a €44 million decrease in cost of raw materials in the first half of 2020, compared to the year before, due to lower prices.

The French group's raw material purchases amounted to €1.8 billion in the first half, with natural rubber and synthetic rubber comprising just under half of the purchases, Michelin announced 27 July.

During the period, Michelin said, average cost of TSR20 natural rubber stood at $1.2/kg, down from an average of $1.45/kg registered in the first half of 2019.

Butadiene prices tracked the crude oil downtrend during the first half, posting a 46% quarter-on-quarter decline to €392/tonne in the second quarter.

First half average prices stood at €560/tonne, down 36% from the €882/tonne average in the first six months of 2019.