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[Natural Rubber]: Rubber Daily Journal (May 10)

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May 10, 2024, 4:21 PM

Analysis of natural rubber market price on May 10

index

On May 10, the STR20 price index of natural rubber in the Qingdao market was US$1620/ton, which was the same as 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

May 10

14250

14120

14305

14130

15220

13845

14130

May 9

14245

14110

14255

14240

15340

13880

14240

rise and fall

5

10

50

-110

-120

-35

-110

 

date

Previous period energy: NR futures (closing price)

NR main force

NR01

NR05

NR09

May 10

11685

12155

11420

11840

May 9

11660

12160

11400

11895

rise and fall

25

-5

20

-55

 

spot market

Supply:

Foreign countries: The rubber tapping situation in Vietnam's raw material producing areas is poor, and Thailand's raw material output is low.

China: China's raw material prices are high and volatile, and manufacturers 'supplies are low.

price type

May 9

May 10

rise and fall

units

raw material prices

Thailand

glue

74.3

-

-

baht/kg

cup glue

55.5

-

-

baht/kg

Yunnan

Glue (into the dry glue factory)

13300

13300

0

Yuan/ton

rubber block

11800

11800

0

Yuan/ton

Hainan

Glue (into the dry glue factory)

13000

13000

0

Yuan/ton

Glue (Jinnong Dairy Factory)

13900

13900

0

Yuan/ton

 

Demand: After the holidays, the peak shipment period of semi-steel tire companies gradually faded, and downstream buying sentiment fell; the production and sales pressure of all-steel tire companies remained unchanged, and the willingness of terminals to hoard goods was less than expected, mainly to digest inventory. In terms of the market, in May, construction of outdoor engineering and infrastructure projects began one after another, boosting the demand for tire replacement market.

Futures spot price list

price type

May 9

May 10

rise and fall

units

price of finished products

Shandong

China All Latex

13483

13383

-100

Yuan/ton

Qingdao

Thailand No. 20 standard glue

1620

1620

0

us dollars/ton

Qingdao

Thailand No. 20 mixed glue

13245

13220

-25

Yuan/ton

Ningbo

Hainan

10350

10350

0

Yuan/ton

Ningbo

Thailand Non-Yellow Bulk

12100

12200

100

Yuan/ton

the current price difference

Main force-Thailand No. 20 mixed glue

995

910

-85

Yuan/ton

Main force-China All Latex

757

747

-10

Yuan/ton

relevant exchange rate

us dollar against the RMB

7.2442

7.2432

-0.001

Yuan

Thai Baht to RMB

0.2026

0.2034

0.0008

Yuan

 

market outlook

Affected by severe weather, the rubber tapping process in raw material producing areas at home and abroad has been slow, the supply of new rubber in the market has continued to be low, and the market price has fluctuated at a high level, which has acceptable support for rubber costs; today, the price of China's natural rubber market has fluctuated and declined, and the market de-warehousing speed has gradually slowed down; the starting load of the downstream tire industry has not yet returned to the pre-holiday level, and market shipments have slowed down slightly. The natural rubber market is expected to continue to be weak in the short term.