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[Natural Rubber]: Rubber Daily Journal (February 21)

85,483
February 21, 2024, 4:43 PM

Analysis of natural rubber market price on February 21

index

On February 21, the STR20 price index of natural rubber in the Qingdao market was US$1565/ton, up US$5/ton from the previous trading day, or 0.32%.

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 February 21

13500

13475

13625

13550

14645

13550

13700

on February 20

13505

13505

13620

13555

14675

13555

13710

rise and fall

-5

-30

5

-5

-30

-5

-10

 

date

Previous period energy: NR futures (closing price)

NR main force

NR01

NR05

NR09

on February 21

11310

11625

11375

11470

on February 20

11285

11680

11350

11470

rise and fall

25

-55

25

0

 

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 are not available.

price type

on February 20

on February 21

rise and fall

units

raw material prices

Thailand

glue

67.5

67.75

0.25

baht/kg

cup glue

52.45

52.5

0.05

baht/kg

Yunnan

Glue (into the dry glue factory)

--

--

--

Yuan/ton

rubber block

--

--

--

Yuan/ton

Hainan

Glue (into the dry glue factory)

--

--

--

Yuan/ton

Glue (Jinnong Dairy Factory)

--

--

--

Yuan/ton

 

On the demand side: Tire companies mostly resume work and production as planned. At present, the operating rate of all-steel tire companies is slowly increasing. Most semi-steel tire companies rely on the advantage of pre-holiday orders to recover quickly after the holiday. In terms of the market, as the market gradually recovers, agents have strong trading after resuming work after the holiday, allowing them to eliminate their stocks. In order to meet downstream demand, agents have recently replenished stocks one after another. However, the factory's supply is tight and the arrival of orders is delayed.

Futures spot price list

price type

on February 20

on February 21

rise and fall

units

price of finished products

Shandong

China All Latex

12783

12783

0

Yuan/ton

Qingdao

Thailand No. 20 standard glue

1560

1565

5

us dollars/ton

Qingdao

Thailand No. 20 mixed glue

12400

12410

10

Yuan/ton

Ningbo

Hainan

11450

11450

0

Yuan/ton

Ningbo

Thailand Non-Yellow Bulk

12550

12550

0

Yuan/ton

the current price difference

Main force-Thailand No. 20 mixed glue

1155

1140

-15

Yuan/ton

Main force-China All Latex

772

767

-5

Yuan/ton

relevant exchange rate

us dollar against the RMB

7.2141

7.1981

-0.016

Yuan

Thai Baht to RMB

0.2031

0.2039

0.0008

Yuan

 

market outlook

The natural rubber market has shown good expectations after returning from the holiday. In the short term, it has gradually entered the off-season of global natural rubber supply. Raw material prices have provided strong support. As downstream tire factories are more motivated to resume work, both the supply side and the demand side have shown strong support expectations. Natural rubber stocks may be in the de-warehouse cycle, coupled with irregular interference from collection and disposal, rubber prices may have strong support after the year. It is expected that the atmosphere in the natural rubber market will remain warm in the short term.