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[Natural Rubber]: Rubber Daily Journal (March 18)

83,272
March 18, 2024, 5:04 PM

Analysis of natural rubber market price on March 18

index

On March 18, the STR20 price index of natural rubber in the Qingdao market was US$1770/ton, an increase of 100 or 6% from the previous working day.

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

March 18

14820

14685

15500

15500

16820

15500

15710

March 15

14400

14365

14870

14790

16100

14790

14985

rise and fall

420

320

630

710

720

710

725

 

date

Previous period energy: NR futures (closing price)

NR main force

NR01

NR05

NR09

March 18

12760

13145

12760

13065

March 15

12325

12655

12325

12555

rise and fall

435

490

435

510

 

spot market

Supply:

Foreign: Thailand's raw material market continues to rise, with prices rising by more than 40% compared with the same period last year.

China: There is no supply of goods and no market price in Yunnan and Hainan producing areas in China.

price type

March 15

March 18

rise and fall

units

raw material prices

Thailand

glue

78

79.5

1.5

baht/kg

cup glue

55.6

56.9

1.3

baht/kg

Yunnan

Glue (into the dry glue factory)

0

0

0

Yuan/ton

rubber block

0

0

0

Yuan/ton

Hainan

Glue (into the dry glue factory)

0

0

0

Yuan/ton

Glue (Jinnong Dairy Factory)

0

0

0

Yuan/ton

 

On the demand side: The semi-steel tire trading floor is still lively. Orders from some companies are in short supply, and there is a large gap in some tire models. Companies are actively scheduling production to fill the order gap; the overall construction of all steel tire companies is at a high level, and their inventory reserves are still acceptable, but the new order transaction performance is average. In terms of the market, the starting load of the tire industry continues to operate at a high level, with some companies starting to approach full production levels, and most companies have decent inventories.

Futures spot price list

price type

March 15

March 18

rise and fall

units

price of finished products

Shandong

China All Latex

13783

14633

850

Yuan/ton

Qingdao

Thailand No. 20 standard glue

1670

1770

100

us dollars/ton

Qingdao

Thailand No. 20 mixed glue

13520

14080

560

Yuan/ton

Ningbo

Hainan

11600

11700

100

Yuan/ton

Ningbo

Thailand Non-Yellow Bulk

12850

13200

350

Yuan/ton

the current price difference

Main force-Thailand No. 20 mixed glue

1270

1420

150

Yuan/ton

Main force-China All Latex

1007

867

-140

Yuan/ton

relevant exchange rate

us dollar against the RMB

7.2126

7.2131

0.0005

Yuan

Thai Baht to RMB

0.2057

0.2044

-0.0013

Yuan

 

market outlook

Global rubber raw material output is scarce, Thai factories 'profits continue to shrink, raw material output continues to decline, and market prices are rising day by day; China's production areas have not yet been cut, and there is no supply in the market; today, China's natural rubber market prices have increased significantly, and companies continue to destock trend; The starting load of the downstream tire industry continues to operate at a high level, and the overall demand for rubber is relatively stable. The natural rubber market is expected to operate strongly in the short term.