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October 24, 2023, 4:27 PM
Analysis of natural rubber market price on October 24
index
On October 24, the STR20 price index of natural rubber in the Qingdao market was US$1505/ton, which was stable compared with the previous trading day.
market analysis
futures market
|
date
|
Previous period: RU Futures
|
|
main contract
|
closing price
|
|
opening price
|
Low-end price
|
High-end price
|
closing price
|
RU01
|
RU05
|
RU09
|
|
October 24
|
14520
|
14405
|
14575
|
14525
|
14525
|
14450
|
14430
|
|
October 23
|
14500
|
14395
|
14560
|
14480
|
14480
|
14390
|
14345
|
|
rise and fall
|
20
|
10
|
15
|
45
|
45
|
60
|
85
|
|
date
|
Previous period energy: NR futures (closing price)
|
|
NR main force
|
NR01
|
NR05
|
NR09
|
|
October 24
|
11070
|
11125
|
11145
|
11040
|
|
October 23
|
11025
|
11070
|
11150
|
11055
|
|
rise and fall
|
45
|
55
|
-5
|
-15
|
spot market
Supply:
Foreign: Rainfall weather in foreign production areas has eased, some areas have begun to increase in narrow ranges, and rainfall still exists in a few areas.
China: Rainy weather in Hainan's production area still affects normal rubber tapping operations, supporting raw material prices to remain firm at high levels. Rainfall in Yunnan's production areas has eased, and raw material prices have eased.
|
price type
|
October 23
|
October 24
|
rise and fall
|
units
|
|
raw material prices
|
Thailand
|
glue
|
--
|
53.6
|
--
|
baht/kg
|
|
cup glue
|
--
|
47.95
|
--
|
baht/kg
|
|
Yunnan
|
Glue (into the dry glue factory)
|
11600
|
11800
|
200
|
Yuan/ton
|
|
rubber block
|
9800
|
9900
|
100
|
Yuan/ton
|
|
Hainan
|
Glue (into the dry glue factory)
|
13700
|
13700
|
0
|
Yuan/ton
|
|
Glue (Jinnong Dairy Factory)
|
13700
|
13700
|
0
|
Yuan/ton
|
Demand side: It is understood that due to external factors last week, the start-up of production-restricted enterprises has returned to regular levels. At present, overall shipments have not changed much compared with the first half of the month. Goods delivery is slow, and overall inventory continues to grow slowly. However, due to production scheduling problems, regular models are still out of stock. In terms of the market, the overall continuation of regular goods delivery is mainly to digest inventory. It is understood that after the price policy of most all-steel tire agents was raised, shipments were slow and the pace of purchase slowed down. Currently, the main focus is on digesting inventory, and overall sales are significantly lower than last month.
Futures spot price list
|
price type
|
October 23
|
October 24
|
rise and fall
|
units
|
|
price of finished products
|
Shandong
|
China All Latex
|
13100
|
13150
|
50
|
Yuan/ton
|
|
Qingdao
|
Thailand No. 20 standard glue
|
1505
|
1505
|
0
|
us dollars/ton
|
|
Qingdao
|
Thailand No. 20 mixed glue
|
12200
|
12230
|
30
|
Yuan/ton
|
|
Ningbo
|
Hainan
|
10000
|
10000
|
0
|
Yuan/ton
|
|
Ningbo
|
Thailand Non-Yellow Bulk
|
10900
|
10850
|
-50
|
Yuan/ton
|
|
the current price difference
|
Main force-Thailand No. 20 mixed glue
|
2280
|
2295
|
15
|
Yuan/ton
|
|
Main force-China All Latex
|
1380
|
1375
|
-5
|
Yuan/ton
|
|
relevant exchange rate
|
us dollar against the RMB
|
7.3353
|
7.3274
|
-0.0079
|
Yuan
|
|
Thai Baht to RMB
|
0.2039
|
0.2058
|
0.0019
|
Yuan
|
market outlook
As the rainfall in other producing areas in China has eased, the output of raw materials continues to increase, and the purchase price of raw materials is expected to fall. The positive support on the supply side has begun to weaken. Although China's natural rubber stocks are still being removed from the warehouse, the removal rate is slow. Demand for all-steel tires on the demand side is still acceptable, while semi-steel tires remain prosperous. In the short term, there is still support for rubber prices on the demand side, but downstream factories still have resistance to high raw materials or have some suppression of rubber prices. Rubber prices are likely to fluctuate in the short term.
