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December 5, 2024, 4:14 PM
dry rubber
This week, the main rubber contract closed higher. The trading atmosphere in the natural rubber spot market was relatively good. The center of gravity of the futures market was widely adjusted, boosting market trading sentiment. Spot offers on the market continued to increase following the market, and arbitrage and covering positions increased. The focus of real orders was upward. From the perspective of supply and demand, the impact of upstream supply weather still exists, and the demand for replenishment of warehouses in production areas and downstream stocking demand is expected to improve. Both upstream and downstream will provide support for rubber prices in the short term. There is some support for the supply and macro aspects of this market rise, but spot inventories maintain a cumulative trend and there is still suppression of the continued upward trend of prices.
natural latex
This week, the offer price in the natural latex spot market in China remained higher. Traders were more enthusiastic in making offers. The futures market fluctuated and rose. The price of cargo from upstream processing plants rose accordingly, boosting the market's bullish confidence. Spot quotes in the sales area generally followed suit, and the focus of market negotiations increased. Near the end of the week, the futures market showed a narrow correction, and the market wait-and-see sentiment increased. Coupled with the low willingness of downstream product companies to purchase high-priced raw materials, slow market trading, resistance to traders to increase prices and shipments, spot market offers stopped rising and stabilized, and downstream companies are cautious in inquiries.
Market outlook forecast:
1. Raw materials in China's production areas have successively entered the cut-off period, 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.
