[Natural Rubber]: Rubber Daily Journal (December 26)
92,031 
December 26, 2023, 4:43 PM Analysis of natural rubber market price on December 26
index
On December 26, the STR20 price index of natural rubber in the Qingdao market was US$1500/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 |
|
|
December 26 |
13900 |
13815 |
13935 |
13840 |
13650 |
13840 |
13895 |
|
December 25 |
13920 |
13830 |
13980 |
13905 |
13715 |
13905 |
13990 |
|
rise and fall |
-20 |
-15 |
-45 |
-65 |
-65 |
-65 |
-95 |
|
date |
Previous period energy: NR futures (closing price) |
|||
|
NR main force |
NR01 |
NR05 |
NR09 |
|
|
December 26 |
10675 |
10620 |
10890 |
11130 |
|
December 25 |
10640 |
10590 |
10860 |
11165 |
|
rise and fall |
35 |
30 |
30 |
-35 |
spot market
Supply:
Foreign countries: Rainfall and weather still exist in southern Thailand's production areas, and the volume of production areas has been affected. To a certain extent, raw material prices have a narrow upward trend and cost support is strong.
China: Hainan production area has entered into a ban on cutting ahead of schedule. At present, some processing plants have begun to shut down. China's Yunnan production area has stopped cutting, and the price of raw material glue is not yet available.
|
price type |
December 25 |
December 26 |
rise and fall |
units |
||
|
raw material prices |
Thailand |
glue |
54.5 |
54.8 |
0.3 |
baht/kg |
|
cup glue |
45.5 |
45.55 |
0.05 |
baht/kg |
||
|
Yunnan |
Glue (into the dry glue factory) |
-- |
-- |
-- |
Yuan/ton |
|
|
rubber block |
10400 |
10400 |
0 |
Yuan/ton |
||
|
Hainan |
Glue (into the dry glue factory) |
12100 |
11600 |
-500 |
Yuan/ton |
|
|
Glue (Jinnong Dairy Factory) |
13300 |
13300 |
0 |
Yuan/ton |
||
On the demand side: Some areas in Weifang and Dongying have issued notices on the timely launch of Level II Incident Response Service with orange warnings for severely polluted weather. Some all-steel tire enterprises have planned to suspend and restrict production, which will affect the overall output of all-steel tire enterprises. A certain drag. In terms of the market, near the end of the month, the market mainly focuses on recovering payment for goods and digesting inventories. In addition, the market terminal demand is weak, social inventories are sufficient, and the overall warehouse removal is slow. There is no good news in the short term to boost the terminal, making it difficult for the terminal to improve.
Futures spot price list
|
price type |
December 25 |
December 26 |
rise and fall |
units |
||
|
price of finished products |
Shandong |
China All Latex |
12933 |
12883 |
-50 |
Yuan/ton |
|
Qingdao |
Thailand No. 20 standard glue |
1500 |
1500 |
0 |
us dollars/ton |
|
|
Qingdao |
Thailand No. 20 mixed glue |
11950 |
11950 |
0 |
Yuan/ton |
|
|
Ningbo |
Hainan |
10500 |
10500 |
0 |
Yuan/ton |
|
|
Ningbo |
Thailand Non-Yellow Bulk |
11100 |
11100 |
0 |
Yuan/ton |
|
|
the current price difference |
Main force-Thailand No. 20 mixed glue |
1955 |
1890 |
-65 |
Yuan/ton |
|
|
Main force-China All Latex |
972 |
957 |
-15 |
Yuan/ton |
||
|
relevant exchange rate |
us dollar against the RMB |
7.1525 |
7.161 |
0.0085 |
Yuan |
|
|
Thai Baht to RMB |
0.2105 |
0.2106 |
0.0001 |
Yuan |
||
market outlook
Judging from the current supply port situation, China's production areas have recently entered a cut-off period. Coupled with the fact that the actual output of overseas production areas has fallen short of expectations, factories outside China are winter reserves and normal production rhythm, which has strong support for raw material prices. The overall demand for domestic sales on the demand-side is weak, which relatively suppresses its sentiment on raw material procurement, and suppresses the continued reduction of port inventories. On the whole, the natural rubber market is still dominated by bullish factors. Before the speculation of selling and purchasing stocks comes to fruition, rubber prices may continue to remain strong.