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[Natural Rubber]: Rubber Daily Journal (January 8)

89,629
January 8, 2024, 4:05 PM

Analysis of natural rubber market price on January 8

index

On January 8, the STR20 price index of natural rubber in the Qingdao market was US$1525/ton, down US$25/ton from the previous trading day, or 1.61%.

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

January 8

13845

13440

13850

13470

13325

13470

13600

on January 5,2021

13875

13810

13925

13850

13710

13850

13970

rise and fall

-30

-370

-75

-380

-385

-380

-370

 

date

Previous period energy: NR futures (closing price)

NR main force

NR01

NR05

NR09

January 8

10830

10730

10925

11440

on January 5,2021

11140

11040

11235

11420

rise and fall

-310

-310

-310

20

 

spot market

Supply:

Foreign countries: Rainfall and weather still exist in southern Thailand's production areas, and the volume of production areas has been affected. To a certain extent, raw material prices have a narrow upward trend and cost support is strong.

China: Hainan production area has entered into a ban on cutting ahead of schedule. At present, some processing plants have begun to shut down. China's Yunnan production area has stopped cutting, and the price of raw material glue is not yet available.

price type

on January 5,2021

January 8

rise and fall

units

raw material prices

Thailand

glue

55

55

0

baht/kg

cup glue

46.55

46.05

-0.5

baht/kg

Yunnan

Glue (into the dry glue factory)

--

--

-

Yuan/ton

rubber block

10400

10400

0

Yuan/ton

Hainan

Glue (into the dry glue factory)

11400

11400

0

Yuan/ton

Glue (Jinnong Dairy Factory)

12400

12400

0

Yuan/ton

 

Demand: As the off-season approaches at the end of the year, terminal delivery is not smooth. Some all-steel tire terminal stores have scarce goods at sunrise, and social inventories are relatively sufficient. Due to monthly purchase constraints, agents replenish goods appropriately to stabilize the factory mood. However, at present, there is no strong willingness to hoard more, and the main focus is to continue to digest more inventory.

Futures spot price list

price type

on January 5,2021

January 8

rise and fall

units

price of finished products

Shandong

China All Latex

12883

12633

-250

Yuan/ton

Qingdao

Thailand No. 20 standard glue

1550

1525

-25

us dollars/ton

Qingdao

Thailand No. 20 mixed glue

12200

11970

-230

Yuan/ton

Ningbo

Hainan

10400

10300

-100

Yuan/ton

Ningbo

Thailand Non-Yellow Bulk

11100

11000

-100

Yuan/ton

the current price difference

Main force-Thailand No. 20 mixed glue

1650

1500

-150

Yuan/ton

Main force-China All Latex

967

837

-130

Yuan/ton

relevant exchange rate

us dollar against the RMB

7.1861

7.173

-0.0131

Yuan

Thai Baht to RMB

0.2116

0.2095

-0.0021

Yuan

 

market outlook

Today, the rubber market has dropped significantly. Judging from the current supply and demand situation in the natural rubber market, China's production areas on the supply side have basically entered the cut-off period, but the output of delivery products is expected to increase. The main rubber production areas in overseas production areas are affected by the weather. The peak season will not be prosperous, raw material prices may remain firm, and short-term costs will still be supported; social inventories have increased slightly. Under the influence of seasonal fluctuations in imports, the expectation of a decline in social inventories in ports is limited; The downstream demand side has weakened significantly. As the off-season approaches at the end of the year, terminal delivery is not smooth, and orders from downstream tire companies have slowed down. On the whole, the current rubber fundamentals are both long and short. With the end of short-term hype topics, there is limited room for further upside, and it is expected to remain volatile in the short term.