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January 23, 2024, 4:31 PM
Analysis of natural rubber market price on January 23
index
On January 23, the STR20 price index of natural rubber in the Qingdao market was US$1545/ton, which was stable from 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
|
|
January 23
|
13555
|
13345
|
13570
|
13535
|
14630
|
13535
|
13665
|
|
January 22
|
13850
|
13470
|
13850
|
13545
|
14655
|
13545
|
13680
|
|
rise and fall
|
-295
|
-125
|
-280
|
-10
|
-25
|
-10
|
-15
|
|
date
|
Previous period energy: NR futures (closing price)
|
|
NR main force
|
NR01
|
NR05
|
NR09
|
|
January 23
|
11125
|
11500
|
11240
|
11260
|
|
January 22
|
11115
|
11500
|
11235
|
11385
|
|
rise and fall
|
10
|
0
|
5
|
-125
|
spot market
Supply:
Foreign countries: The production situation in southern Thailand has been affected, which supports raw materials to remain firm to a certain extent and strong cost support.
China: China's production areas have entered a cut-off period, and raw material prices have remained stable.
|
price type
|
January 22
|
January 23
|
rise and fall
|
units
|
|
raw material prices
|
Thailand
|
glue
|
63.3
|
63.8
|
0.5
|
baht/kg
|
|
cup glue
|
49.1
|
49
|
-0.1
|
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)
|
11400
|
11400
|
0
|
Yuan/ton
|
|
Glue (Jinnong Dairy Factory)
|
12400
|
12400
|
0
|
Yuan/ton
|
Demand: It is understood that overall domestic shipments are slow, foreign trade shipments are still acceptable, inventories continue to grow, terminal demand is weak, some terminal stores in the northwest and northeast have closed, store business in Shandong is sluggish, and delivery through channels is slow. Recently, goods have been shipped sporadically, mainly with payment back.
Futures spot price list
|
price type
|
January 22
|
January 23
|
rise and fall
|
units
|
|
price of finished products
|
Shandong
|
China All Latex
|
12650
|
12583
|
-67
|
Yuan/ton
|
|
Qingdao
|
Thailand No. 20 standard glue
|
1545
|
1545
|
0
|
us dollars/ton
|
|
Qingdao
|
Thailand No. 20 mixed glue
|
12260
|
12240
|
-20
|
Yuan/ton
|
|
Ningbo
|
Hainan
|
10750
|
10900
|
150
|
Yuan/ton
|
|
Ningbo
|
Thailand Non-Yellow Bulk
|
12000
|
12000
|
0
|
Yuan/ton
|
|
the current price difference
|
Main force-Thailand No. 20 mixed glue
|
1445
|
1295
|
-150
|
Yuan/ton
|
|
Main force-China All Latex
|
925
|
952
|
27
|
Yuan/ton
|
|
relevant exchange rate
|
us dollar against the RMB
|
7.2111
|
7.1991
|
-0.012
|
Yuan
|
|
Thai Baht to RMB
|
0.2066
|
0.2057
|
-0.0009
|
Yuan
|
market outlook
Recently, the main force of rubber fell sharply at the opening of the market, correcting back to around 13400 yuan/ton, a significant decline. In terms of fundamentals, after China's production areas stopped cutting, overseas production areas in northeastern Thailand and Vietnam have successively entered the season of stopping cutting and reducing production in the middle and late of this month. The output in the southern part of Thailand, which is the main supply, also fell short of expectations, and the supply side has been tightened. It is expected that the raw material side has remained in a favorable state; However, downstream demand is slightly tired. As the Spring Festival holiday approaches, the seasonal off-season starts will drag on rubber to a certain extent. However, this rapid downward adjustment has a greater relationship with the impact of the news. China's A-share market has fallen sharply, and many products in the commodity futures market are in a state of shock due to the influence of many parties. On the whole, the current fundamentals of the natural rubber market coexist or operate in shock. In the short term, the natural rubber market is expected to fluctuate around this line, and expectations for large fluctuations are limited.
