[Natural Rubber]: Rubber Weekly Review (September 28)
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September 28, 2023, 4:28 PM Figure 1: Shandong market price of STR20 MIX 图2：浙江市场泰国进口普通散装价格
dry rubber
Natural rubber market prices fluctuated within a narrow range this week. Before the holiday, irregular precipitation in China's foreign producing areas eased slightly. Coupled with the fact that most of Yunnan's substitute indicators entered, there is a slight increase in raw material supply, and China's raw material prices are not sufficiently driven upward. Overseas ships and cargo arrive in Hong Kong to avoid holidays. It is expected that deposits will arrive in Hong Kong around the double festival, and the extent of social inventory removal will be weakened. The Double Festival is approaching. Although downstream factories are stocking up, in order to avoid financial risks, purchasing sentiment has dropped slightly compared with the previous period, which cannot form a favorable support for rubber prices. The boost in market supply and demand before the holiday was slightly weaker, and rubber prices were adjusted within a narrow range.
natural latex
China's concentrated milk offers were relatively strong this week. The actual transactions in the spot market remained weak, and traders 'shipment sentiment was acceptable. The RMB exchange rate had depreciated and import costs had increased. Chinese traders were not willing to let out profits and ship. However, as the two-day holiday approached, most downstream product companies had completed pre-holiday stocking. The overall purchasing sentiment was low and actual transactions were limited.
Market outlook forecast:
1、中国外产区降雨天气或存缓和预期，季节性上量阶段，原料价格支撑预期走弱；
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、汇率、美联储加息等。