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October 16, 2024, 4:17 PM
Analysis of natural rubber market price on October 16
index
October 16June, Natural Rubber Qingdao Market STR20 Price Index2040 BeautyYuan/ton, compared withThe previous trading day fell by US$40/ton.
market analysis
futures market
spot market
Supply:
Abroad: There is still heavy rainfall in some parts of Thailand, which affects rubber cutting work and factory production and transportation. The cutting situation in the south is less than expected, and the purchase price of raw materials remains high for the time being.
China: Rubber collection work has been gradually carried out in various areas in the southern part of Yunnan's production area, and glue output has gradually entered the stage of increasing volume. The current price of raw glue is firm.
The weather conditions in Hainan's production areas have improved, rubber tapping work has gradually returned to normal, and the island's raw material output has increased. It is expected that the daily rubber harvest across the island will be roughly more than 4000 tons today.
Demand side:It is understood that semi-steel tire companies have high equipment operating levels, and foreign trade orders from some companies have reduced compared with the previous month. However, the snow tire scheduling period and the gap in domestic sales orders still exist, and the overall installation starts continue to be high. In terms of the market, the semi-steel four-season tire market has relatively sufficient supply, and agents purchase more on demand. Under the news of price increases, some companies have raised their price policies. There is no obvious sign of following up on the market, and terminal demand is normalized.
Futures spot price list
market outlook
Recently, the main rubber contract has remained in a small volatile situation, and the main contract has basically remained at around 18000 yuan/ton. In the upstream producing areas, the overall supply weather has temporarily improved in the short term, and the quantity has begun to gradually increase slightly. In terms of downstream demand, with the arrival of blizzard weather in the Mohe area, driving demand for downstream snow tire replacement, demand may improve in the fourth quarter. As of now, the trading atmosphere in the natural rubber spot market in China is general, with actual order negotiations being the main focus, and the downstream is cautious and wait-and-see. It is expected that the natural rubber market may remain weak in the near future.
