[Natural Rubber]: Rubber Weekly Review (September 21)
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September 21, 2023, 4:11 PM Figure 1: Shandong market price of STR20 MIX Figure 2: Zhejiang market price of ordinary bulk imported from Thailand
dry rubber
Natural rubber market prices fell within a narrow range this week. At this stage, global natural rubber output falls short of expectations, raw material prices remain high, finished products have increased faster than raw materials, and upstream processing profits have been repaired, boosting market confidence in bullish. With the National Day holiday approaching, downstream factories are stocking up, but they are not willing to receive high-priced raw materials, and rubber prices may be adjusted in shock.
natural latex
This week, China's concentrated milk offer maintained a narrow correction trend. Recently, there is not much pressure on spot supply at ports, and traders 'quotation sentiment is still good. However, orders for finished products from downstream product companies are not strong, the pace of stocking has slowed down, and inquiries are mainly under pressure. The actual transaction is weak, which has dragged down spot prices.
Market outlook forecast:
1、中国外产区原料产出偏少伴随胶水抢夺，原料价格继续上行；
2、预计下周期轮胎样本企业产能利用率存走低预期；
3、中国青岛库存量或存去库趋势，高库存压力有所缓和；
4. Exchange rate, Federal Reserve interest rate hikes, etc.