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November 8, 2023, 4:47 PM
Analysis of natural rubber market price on November 8
index
On November 8, the STR20 price index of natural rubber in the Qingdao market was US$1455/ton, up US$15/ton from the previous trading day, or 1.04%.
market analysis
futures market
|
date
|
Previous period: RU Futures
|
|
main contract
|
closing price
|
|
opening price
|
Low-end price
|
High-end price
|
closing price
|
RU01
|
RU05
|
RU09
|
|
November 8
|
14045
|
14000
|
14205
|
14170
|
14170
|
14315
|
14300
|
|
November 7
|
14135
|
13975
|
14260
|
14045
|
14045
|
14165
|
14165
|
|
rise and fall
|
-90
|
25
|
-55
|
125
|
125
|
150
|
135
|
|
date
|
Previous period energy: NR futures (closing price)
|
|
NR main force
|
NR01
|
NR05
|
NR09
|
|
November 8
|
10675
|
10675
|
11150
|
11310
|
|
November 7
|
10560
|
10560
|
11100
|
11310
|
|
rise and fall
|
115
|
115
|
50
|
0
|
spot market
Supply:
Foreign countries: Rainfall weather in foreign production areas has eased, some areas have begun to increase within a narrow range, and a few areas still have the impact of rainfall, and raw material prices have begun to fall within a narrow range.
China: Weather conditions in China's production areas have returned to normal, raw material output has also gradually recovered, and raw material prices have been relatively firm.
|
price type
|
November 7
|
November 8
|
rise and fall
|
units
|
|
raw material prices
|
Thailand
|
glue
|
52.8
|
52
|
-0.8
|
baht/kg
|
|
cup glue
|
44.95
|
45
|
0.05
|
baht/kg
|
|
Yunnan
|
Glue (into the dry glue factory)
|
11800
|
11800
|
0
|
Yuan/ton
|
|
rubber block
|
9800
|
9800
|
0
|
Yuan/ton
|
|
Hainan
|
Glue (into the dry glue factory)
|
12500
|
12500
|
0
|
Yuan/ton
|
|
Glue (Jinnong Dairy Factory)
|
12500
|
12500
|
0
|
Yuan/ton
|
Demand: It is understood that entering the seasonal off-season, overall shipments in the all-steel tire replacement market are slow. In addition, the fleet's profits are low and consumption is downgraded. The demand for used tires and low-priced tires remains unabated. Overall shipments in the market are slow., mainly through channels to digest inventory.
Futures spot price list
|
price type
|
November 7
|
November 8
|
rise and fall
|
units
|
|
price of finished products
|
Shandong
|
China All Latex
|
12950
|
12850
|
-100
|
Yuan/ton
|
|
Qingdao
|
Thailand No. 20 standard glue
|
1440
|
1455
|
15
|
us dollars/ton
|
|
Qingdao
|
Thailand No. 20 mixed glue
|
11930
|
12050
|
120
|
Yuan/ton
|
|
Ningbo
|
Hainan
|
9600
|
9550
|
-50
|
Yuan/ton
|
|
Ningbo
|
Thailand Non-Yellow Bulk
|
10400
|
10350
|
-50
|
Yuan/ton
|
|
the current price difference
|
Main force-Thailand No. 20 mixed glue
|
2115
|
2120
|
5
|
Yuan/ton
|
|
Main force-China All Latex
|
1095
|
1320
|
225
|
Yuan/ton
|
|
relevant exchange rate
|
us dollar against the RMB
|
7.2963
|
7.2908
|
-0.0055
|
Yuan
|
|
Thai Baht to RMB
|
0.2093
|
0.209
|
-0.0003
|
Yuan
|
market outlook
Recently, rubber has remained relatively weak, and the global manufacturing PMI for October is on the macro level.
It has dropped significantly from the previous month, showing signs of cooling down on the global economy. Recently, as precipitation in Southeast Asian producing areas has eased, raw material increase expectations have been strong, purchase prices have begun to fall within a narrow range, and cost support has weakened. On the downstream side, the operating rate of most all-steel tires remained high. First-line brands increased production in replacement markets and supporting markets. Foreign trade orders fell slightly month-on-month. The overall inventory of small-scale enterprises showed an increase. Sales pressure gradually increased, and the margin of demand weakened. As the arrival of standard rubber in Hong Kong gradually increases, natural rubber stocks are still expected to accumulate, and the fundamental negative factor has dragged down short-term rubber prices to fluctuate and weaken.
