[Natural Rubber]: Rubber Weekly Review (July 20)
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July 20, 2023, 4:20 PM Figure 1: Shandong market price of STR20 MIX Figure 2: Zhejiang market price of ordinary bulk imported from Thailand
dry rubber
Rubber remained in a volatile state this week. In late July, China's major foreign producing areas have successively entered the seasonal rubber tapping season. Without the influence of special weather, the amount of raw glue is expected to strengthen, and supply support is weak. Downstream factories are still operating at present, but actual demand has weakened. Trend, some dealers have slowed down the replenishment pace; Up to now, Qingdao's inventories have continued to increase and are basically at their highest point this year. The high inventory pressure has suppressed the upward space for rubber prices to a certain extent. Rubber prices are unlikely to rise significantly in the short term, and most of them continue to fluctuate mainly.
natural latex
The overall price of natural latex has remained relatively stable this week. At present, the concentrated milk market is still dominated by the demand side, but the actual downstream start-up has not improved significantly. The enthusiasm of the market for goods inquiries remains weak, and the trend of increasing supply in production areas is slowly showing that spot prices are unlikely to improve in the short term. So far, some traders have indicated that spot shipments at some ports are relatively weak, and the phenomenon of overstocked ports has begun to appear. A small number of cargo holders began to sell off port spot at low prices.
Market outlook forecast:
1、中国外产区降雨天气缓和，原料上量预期升温；
2、预计下周期中国轮胎开工率仍将维持稳中偏弱运行；
3、中国青岛库存量维持累库趋势，高库存压力短期内难以缓和；
4、美元汇率高位，收储消息等。