Analysis of natural rubber market price on October 8

index

On October 8, the STR20 price index of natural rubber Qingdao market was 1480. Futures were closed due to holidays, and the quotation was stable compared with the previous trading day.

market analysis

Futures market: Closed on holidays

spot market

Supply:

Foreign countries: During holidays in Thailand's production areas, there are still rainfall and weather effects in some areas, and rubber tapping operations are still weak to a certain extent.

China: Rainfall weather in China's production areas has eased, which is conducive to the normal development of rubber tapping operations to a certain extent. So far, only sporadic areas in Hainan's production areas have experienced rainfall, and the overall impact is relatively small.

On the demand side: During the "Double Festival" holiday, the capacity utilization rate of maintenance enterprises is gradually increasing. At present, the order gap of enterprises still exists, and the enthusiasm of enterprises to start construction has not diminished, and will gradually increase to the pre-holiday level in the near future. During the holiday period, overall shipments of companies slowed down compared with the previous month. In terms of the market, business in most retail stores was sluggish during the holidays, with sporadic shipments of goods. Terminal stores had sufficient inventory. There was no strong willingness to replenish goods during the holidays, and terminals shipped goods.

market outlook

The booming production season in China's foreign producing areas is approaching, and the rainfall has eased. Under the general trend, seasonal supply has increased and upstream pressure has gradually increased. Against the background of supply pressure, actual downstream demand has attracted much attention. So far, China's downstream demand is still good, and some companies still have an order gap. Coupled with the fact that Qingdao inventory continues to be removed from the warehouse before the holiday, it is expected that there will be little pressure on spot supply after the holiday. There is the possibility that the center of gravity at the bottom of the rubber will continue to rise, but there is still some pressure to continue to rise in the short term, so be cautious and bullish.