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November 25, 2024, 4:14 PM
Analysis of natural rubber market price on November 25
index
November 25June, Natural Rubber Qingdao Market STR20 Price Index1970 BeautyYuan/ton, compared withThe previous trading day rose by US$30/ton.
market analysis
futures market
spot market
Supply:
Abroad: Rainfall in southern Thailand disrupted the output of raw materials, and the factory received insufficient glue. The price of glue rebounded. The demand for raw materials in dry glue factories is still in place, and the price of cup glue is operating strongly.
China: Cutting has begun to stop in some areas of Yunnan, and raw material output is coming to an end.
At present, the precipitation and weather in Hainan's production areas continue to disturb, and the seasonal increase in raw material output is hindered. As the local temperature gradually drops, the dry content of fresh glue is generally around 28-29, and in a few areas it drops below 27.
Demand side:It is understood that the production scheduling of semi-steel tires remains at a high level, some enterprises have closed their snow tires, and the production scheduling of tires in the four seasons has been intensified. The production scheduling of all steel tire maintenance enterprises has gradually resumed. Some enterprises still have independent production control arrangements. There are also some enterprises. Maintain maintenance plans at the end of the month, or create a certain drag on the overall start of construction. In terms of the market, trading in the tire market is weak, terminal demand is flat, inventory digestion is slow, and channel purchase demand is low, resulting in increased shipping pressure on primary agents.
Futures spot price list
market outlook
Today, the main rubber contract has once again weakened. Judging from the current rubber fundamentals, the increase in overseas supply is expected to remain unchanged. However, the rainy season in southern Thailand disrupts the harvest of rubber, and Thai glue is still driving upward. China's raw material output is coming to an end, and the market's bullish sentiment has increased. China's natural rubber stocks have entered a cumulative stage, which may suppress the bullish atmosphere in the market, but the absolute value of stocks is low, which may be compounded by the dumping of stocks next week, which will interfere with the market. In terms of downstream demand, the market supply is sufficient, and shipments of all steel tires through channels are poor. Agents use them as they please, focusing on completing tasks. Upstream raw material prices are under pressure, downstream actual demand is relatively limited, and the short-term rubber price increase momentum is relatively weak, and it is expected to remain volatile.
