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[Natural Rubber]: Rubber Daily Journal (January 17)

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January 17, 2024, 4:26 PM

Analysis of natural rubber market price on January 17

index

On January 17, the STR20 price index of natural rubber in the Qingdao market was US$1545/ton, down US$10/ton from the previous trading day, or 0.64%.

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

on January 17

13855

13735

13950

13775

14875

13775

13885

on January 16

13750

13710

13915

13875

14890

13875

13985

rise and fall

105

25

35

-100

-15

-100

-100

 

date

Previous period energy: NR futures (closing price)

NR main force

NR01

NR05

NR09

on January 17

11175

11450

11290

11400

on January 16

11240

11450

11340

11290

rise and fall

-65

0

-50

110

 

spot market

Supply:

Foreign countries: The production situation in southern Thailand has been affected, which supports raw materials to remain firm to a certain extent and strong cost support.

China: China's production areas have entered a cut-off period, and raw material prices have remained stable.

price type

on January 16

on January 17

rise and fall

units

raw material prices

Thailand

glue

60

60.7

0.7

baht/kg

cup glue

47.6

48

0.4

baht/kg

Yunnan

Glue (into the dry glue factory)

0

0

0

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: Currently, most semi-steel tire companies have relatively smooth internal and external sales and shipments. Due to limited production capacity, there is a shortage of inventory for some conventional models. In terms of the market, considering the possibility that the overall inventory of enterprises may be tight after the holiday, some agents of semi-steel tires will replenish their stocks moderately. However, terminal demand is insufficient, shipments are relatively slow, and the overall inventory of agents is in an improved state.

Futures spot price list

price type

on January 16

on January 17

rise and fall

units

price of finished products

Shandong

China All Latex

12933

12933

0

Yuan/ton

Qingdao

Thailand No. 20 standard glue

1555

1545

-10

us dollars/ton

Qingdao

Thailand No. 20 mixed glue

12330

12300

-30

Yuan/ton

Ningbo

Hainan

10700

10700

0

Yuan/ton

Ningbo

Thailand Non-Yellow Bulk

11700

11700

0

Yuan/ton

the current price difference

Main force-Thailand No. 20 mixed glue

1545

1475

-70

Yuan/ton

Main force-China All Latex

942

842

-100

Yuan/ton

relevant exchange rate

us dollar against the RMB

7.1996

7.2091

0.0095

Yuan

Thai Baht to RMB

0.2087

0.207

-0.0017

Yuan

 

market outlook

After the recent suspension of cutting in China's production areas, overseas northeastern Thailand and Vietnam's production areas have successively entered the season of cutting and production reduction in the middle and late of this month. As the main supply, the output in the southern part of Thailand's production areas also fell short of expectations. There are tightening expectations on the supply side, and raw material prices are easy to rise but hard to fall. The supply side is favorable to support the narrow rise in rubber prices; while downstream demand is slightly tired. As the Spring Festival holiday approaches, actual digestion is relatively limited. On the whole, the current natural rubber market lacks obvious market guidance, and the fundamentals coexist or operate in shock. In the short term, it is expected that the natural rubber market will lack obvious driving forces or be dominated by shocks.