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[Natural Rubber]: Rubber Daily Journal (March 20)

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March 20, 2024, 4:34 PM

Analysis of natural rubber market price on March 20

index

On March 20, the STR20 price index of natural rubber in the Qingdao market was US$1750/ton, up 10 or 0.57% from yesterday.

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 20

15315

15235

15575

15390

16535

15390

15485

March 19

15600

15270

15805

15395

16490

15395

15440

rise and fall

-285

-35

-230

-5

45

-5

45

 

date

Previous period energy: NR futures (closing price)

NR main force

NR01

NR05

NR09

March 20

12705

13020

12705

12950

March 19

12595

13100

12595

12895

rise and fall

110

-80

110

55

 

spot market

Supply:

Foreign countries: Affected by drought weather, cutting has been suspended in many production areas in Thailand, and raw material prices are fluctuating today.

China: Yunnan and Hainan production areas have not been opened yet, and there is no supply of goods in the market.

price type

March 19

March 20

rise and fall

units

raw material prices

Thailand

glue

80.2

81

0.8

baht/kg

cup glue

57.65

57.65

0

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 industry has sufficient foreign trade orders, supported by high export volume, and the starting load of enterprises is basically full; most all-steel tire companies have successively issued price increases in April, with an increase of about 3%. However, the overall market response is general, and traders are not motivated to replenish goods. In terms of the market, the speculation atmosphere in the tire market is lively, which has boosted shipments to a certain extent. However, most merchants have already reserved inventories in advance, and actual trading in the replacement market is scarce.

Futures spot price list

price type

March 19

March 20

rise and fall

units

price of finished products

Shandong

China All Latex

14683

14683

0

Yuan/ton

Qingdao

Thailand No. 20 standard glue

1740

1750

10

us dollars/ton

Qingdao

Thailand No. 20 mixed glue

14030

14040

10

Yuan/ton

Ningbo

Hainan

12000

12100

100

Yuan/ton

Ningbo

Thailand Non-Yellow Bulk

13300

13300

0

Yuan/ton

the current price difference

Main force-Thailand No. 20 mixed glue

1365

1350

-15

Yuan/ton

Main force-China All Latex

712

707

-5

Yuan/ton

relevant exchange rate

us dollar against the RMB

7.2156

7.2162

0.0006

Yuan

Thai Baht to RMB

0.2039

0.2037

-0.0002

Yuan

 

market outlook

Recently, due to the impact of drought and severe weather, many rubber raw material production areas around the world have stopped cutting. The scarcity of output has led to continued high prices, which has strong support for rubber costs. During the suspension period of Chinese raw materials, there is no supply in the market; today, China's natural rubber market prices are high. Shock, the overall production and sales of the company maintain a balance; Supported by high rubber prices, downstream tire prices have begun to increase, but the final market performance is weak. It will take some time for the actual tire prices to be implemented. It is expected that the natural rubber market will operate strongly in the short term.