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[Natural Rubber]: Rubber Daily Journal (January 24)

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January 24, 2024, 4:48 PM

Analysis of natural rubber market price on January 24

index

On January 24, the STR20 price index of natural rubber in the Qingdao market was US$1560/ton, up US$15/ton from the previous trading day, or 0.96%.

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 24

13535

13510

13650

13630

14730

13630

13760

January 23

13555

13345

13570

13535

14630

13535

13665

rise and fall

-20

165

80

95

100

95

95

 

date

Previous period energy: NR futures (closing price)

NR main force

NR01

NR05

NR09

January 24

11215

11500

11315

11270

January 23

11125

11500

11240

11260

rise and fall

90

0

75

10

 

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

January 23

January 24

rise and fall

units

raw material prices

Thailand

glue

63.8

64

0.2

baht/kg

cup glue

49

49.15

0.15

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

--

--

Yuan/ton

Glue (Jinnong Dairy Factory)

12400

--

--

Yuan/ton

 

Demand: At present, some companies still have tight inventories. In order to ensure smooth market trading after the holiday, some agents replenish stocks appropriately before the holiday, mainly to complete the tasks of the month. However, some export markets account for the dominant brands, and China's supply is insufficient. At present, it is mainly due to the arrival of early orders. Market demand is slow and inventories are growing.

Futures spot price list

price type

January 23

January 24

rise and fall

units

price of finished products

Shandong

China All Latex

12583

12733

150

Yuan/ton

Qingdao

Thailand No. 20 standard glue

1545

1560

15

us dollars/ton

Qingdao

Thailand No. 20 mixed glue

12240

12320

80

Yuan/ton

Ningbo

Hainan

10900

10900

0

Yuan/ton

Ningbo

Thailand Non-Yellow Bulk

12000

12150

150

Yuan/ton

the current price difference

Main force-Thailand No. 20 mixed glue

1295

1310

15

Yuan/ton

Main force-China All Latex

952

897

-55

Yuan/ton

relevant exchange rate

us dollar against the RMB

7.1991

7.1926

-0.0065

Yuan

Thai Baht to RMB

0.2057

0.2043

-0.0014

Yuan

 

market outlook

After the suspension of cutting in China's production areas, overseas northeastern Thailand and Vietnam's production areas have successively entered the season of suspension 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 the raw material side has been maintained. In a bullish state; However, downstream demand is slightly tired. As the Spring Festival holiday approaches, the seasonal off-season starts will bring drag on rubber to a certain extent. Short-term positive supply transmission logic digestion, the macro atmosphere will affect the mood in the market, and rubber prices will fall. However, raw material prices continue to rise, and there is still strong support below the cost end. It is expected that the natural rubber market will fluctuate around this line.