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October 23, 2024, 4:16 PM
Analysis of natural rubber market price on October 23
index
October 23June, Natural Rubber Qingdao Market STR20 Price Index2040 BeautyYuan/ton, compared withThe previous trading day fell by US$60/ton.
market analysis
futures market
spot market
Supply:
Abroad: The overall weather in Thailand has improved. Only some areas in the south have poor rubber tapping work, and the amount of raw materials in the central region has been significantly increased. As demand for concentrated milk and tobacco tablets fell, glue fell significantly.
China: The weather conditions in the southern areas of Yunnan's production area are good, the rubber tapping work in the production area is proceeding normally, and the glue output is gradually increasing.
The weather conditions in Hainan's production areas are fair, and raw materials are produced in large quantities seasonally. Due to factors such as cost and profits, some processing plants purchase raw materials at high prices.
Demand side:It is understood that the company's overall orders are currently weaker than in the previous period, especially foreign trade orders fall short of expectations and overall demand is insufficient. After the price increase was implemented in the China market, goods delivery fell short of expectations, and the company's snow tire shipments showed strong production and sales. In terms of the market, raw material prices remained high and costs increased during the month. Some companies moderately increased product prices. Before the price increase, market agents successively replenished goods. However, the actual digestion capacity of market terminal demand was average, and it has basically returned to the stage of digesting inventory and regular shipment.
Futures spot price list
market outlook
Today's main rubber contract basically gave up yesterday's increase. Judging from the current situation of the main rubber contract, it basically remains in a volatile state. In the upstream production areas, the overall supply weather has temporarily improved in the short term, and there has been a slight trend of gradual increase in volume. The cost side supports and is expected to fall. As the weather conditions improve in the later period, the expectation of a decline in raw material support may heat up, but we must also always pay attention to the rainfall situation. In terms of downstream demand, the overall output of tires is expected to increase. Driven by the news of price increases, the overall inventory of enterprises has shifted downward, and some enterprises have shortages. In the future, the supply side will gradually increase, and there may be limited room for price adjustment. It is expected that the Tianjiao market will continue to maintain a volatile operation in the future.
