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November 18, 2024, 4:09 PM
Analysis of natural rubber market price on November 18
index
November 18June, Natural Rubber Qingdao Market STR20 Price Index1930 beautifulYuan/ton, compared withThe previous trading day fell by US$25/ton.
market analysis
futures market
spot market
Supply:
Abroad: Rainfall in southern Thailand disrupted the output of raw materials, and the factory received insufficient glue. The price of glue rebounded. The demand for raw materials in dry glue factories is still in place, and the price of cup glue is operating strongly.
China: Yunnan may enter the cutting suspension period at the end of the month, and the output of raw materials is coming to an end. It is heard that the current dry content has dropped to around 25.
The weather conditions in Hainan's production areas are fair. There is only a small amount of precipitation disturbance in some areas, and the output of raw materials increases seasonally. As the local temperature drops, the dry content of glue in the central and eastern regions also decreases.
Demand side:It is understood that orders from semi-steel tire companies are relatively sufficient, companies maintain high levels of operation, maintenance companies are gradually resuming work, there is room for slight improvement in the capacity utilization rate of all-steel tire sample companies, and some companies are still in a state of flexible production control. In terms of the market, there is currently sufficient supply of goods in the entire steel tire market. Most agents replenished goods appropriately before the price increase. However, terminal demand is insufficient and the actual digestion progress is slow. Currently, goods are shipped sporadically between channels, and market trading activity is reduced.
Futures spot price list
market outlook
Today, the main rubber contract remains weak, but judging from the current rubber fundamentals, the weather conditions in the upstream production areas have improved slightly recently, and rubber farmers can carry out rubber cutting operations at full production. Coupled with the fact that Thailand's production areas are currently in a relatively prosperous state, the overall raw materials are in a state of high volume, which in turn drags raw material prices to a narrow downward trend. In terms of downstream demand, China's "Golden September and Silver Ten" consumption peak season has officially come to an end. Coupled with the postponement of the EUDR bill, overseas demand has declined. As of now, there is no further favorable stimulus from the macro level. China's supply and demand have remained relatively weak. In the short term, the overall supply and demand pattern shows signs of turning further easing. Rubber prices are expected to remain low and volatile.
