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October 24, 2024, 4:00 PM
Figure 1: Shandong market price of STR20 MIX Figure 2: Zhejiang market price of ordinary bulk imported from Thailand
dry rubber
This week, the main rubber contract remained in a small volatile state and basically remained 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 subsequent period, the supply side will gradually increase the volume, and the room for price adjustment may be limited.
natural latex
This week, the price of offers on the natural latex spot market in China fell, and traders were more enthusiastic about making offers. As the weather in producing areas at home and abroad gradually improved, supply expectations strengthened, and the purchase price of glue fell. Upstream processing plants lowered their US dollar quotations, and cost support weakened, which had a significant negative impact on market sentiment. Traders in the sales area followed suit and fell. The focus of spot offers generally shifted downward. Downstream product companies have an obvious "buy up but not buy down" mentality, and active inquiries are rare. The transaction is maintained and only requires actual order negotiation.
Market outlook forecast:
1. The seasonal growth in raw material output in foreign production areas is expected to be obvious, and rainfall should continue to be paid attention to;
2. It is expected that the operating rate of tire sample companies will improve next week;
3. The inventory in Qingdao, China continues to be removed from the warehouse;
4. Exchange rate, Federal Reserve interest rate cuts, etc.
