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November 26, 2024, 3:44 PM
Analysis of natural rubber market price on November 26
index
November 26June, Natural Rubber Qingdao Market STR20 Price Index1990 BeautyYuan/ton, compared withThe previous trading day rose by US$20/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 most all-steel tire enterprises are operating smoothly, and individual enterprises in Shandong's main producing areas have monthly maintenance plans, which will cause a certain drag on the overall start of construction. The shipment performance of all-steel tires in the China market is weak, the price policies are mostly stable, the overall warehouse removal is slow, and the inventory is slowly increasing. In terms of the market, there is sufficient supply in the market. Some brand agents have high inventories and weak downward inventory transfer. Most other brands have sufficient inventories, insufficient market demand, and poor overall circulation of goods through the channel.
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.
