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November 28, 2024, 4:11 PM
dry rubber
At the end of this week, the main rubber contract showed a narrow improvement. 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 approaching its end, and the market's bullish sentiment has increased. 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. There is obvious support for upstream raw material costs, relatively limited actual downstream demand, and short-term rubber prices have upward momentum, but actual support is relatively limited, and it is expected to remain volatile.
natural latex
This week, the offer price on the natural latex spot market in China remained relatively stable for most of the time. The futures market fluctuated and consolidated. Coupled with the temporary stabilization of cargo prices in upstream processing plants, the market lacked directional guidance. However, as the cut-off period in China approaches, the holders generally hold high prices and ship goods when there is no pressure on the spot supply in the sales area. Most downstream product companies enter the market and wait and see. Buying orders suppress the price just needed, and transactions remain cautious.
Market outlook forecast:
1. The cut-off period for raw materials in China's production areas is approaching, and winter storage in the main production areas should be continued;
2. It is expected that the operating rate of tire sample companies in the next week may continue to be weak;
3. Inventory in Qingdao, China continues to accumulate;
4. Exchange rate, Federal Reserve interest rate cuts, etc.
