[Natural Rubber]: Rubber Daily Journal (January 24)
89,794 
January 24, 2024, 4:48 PM Analysis of natural rubber market price on January 24
index
On January 24, the STR20 price index of natural rubber in the Qingdao market was US$1560/ton, up US$15/ton from the previous trading day, or 0.96%.
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 24 |
13535 |
13510 |
13650 |
13630 |
14730 |
13630 |
13760 |
|
January 23 |
13555 |
13345 |
13570 |
13535 |
14630 |
13535 |
13665 |
|
rise and fall |
-20 |
165 |
80 |
95 |
100 |
95 |
95 |
|
date |
Previous period energy: NR futures (closing price) |
|||
|
NR main force |
NR01 |
NR05 |
NR09 |
|
|
January 24 |
11215 |
11500 |
11315 |
11270 |
|
January 23 |
11125 |
11500 |
11240 |
11260 |
|
rise and fall |
90 |
0 |
75 |
10 |
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 23 |
January 24 |
rise and fall |
units |
||
|
raw material prices |
Thailand |
glue |
63.8 |
64 |
0.2 |
baht/kg |
|
cup glue |
49 |
49.15 |
0.15 |
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 |
-- |
-- |
Yuan/ton |
|
|
Glue (Jinnong Dairy Factory) |
12400 |
-- |
-- |
Yuan/ton |
||
Demand: At present, some companies still have tight inventories. In order to ensure smooth market trading after the holiday, some agents replenish stocks appropriately before the holiday, mainly to complete the tasks of the month. However, some export markets account for the dominant brands, and China's supply is insufficient. At present, it is mainly due to the arrival of early orders. Market demand is slow and inventories are growing.
Futures spot price list
|
price type |
January 23 |
January 24 |
rise and fall |
units |
||
|
price of finished products |
Shandong |
China All Latex |
12583 |
12733 |
150 |
Yuan/ton |
|
Qingdao |
Thailand No. 20 standard glue |
1545 |
1560 |
15 |
us dollars/ton |
|
|
Qingdao |
Thailand No. 20 mixed glue |
12240 |
12320 |
80 |
Yuan/ton |
|
|
Ningbo |
Hainan |
10900 |
10900 |
0 |
Yuan/ton |
|
|
Ningbo |
Thailand Non-Yellow Bulk |
12000 |
12150 |
150 |
Yuan/ton |
|
|
the current price difference |
Main force-Thailand No. 20 mixed glue |
1295 |
1310 |
15 |
Yuan/ton |
|
|
Main force-China All Latex |
952 |
897 |
-55 |
Yuan/ton |
||
|
relevant exchange rate |
us dollar against the RMB |
7.1991 |
7.1926 |
-0.0065 |
Yuan |
|
|
Thai Baht to RMB |
0.2057 |
0.2043 |
-0.0014 |
Yuan |
||
market outlook
After the suspension of cutting in China's production areas, overseas northeastern Thailand and Vietnam's production areas have successively entered the season of suspension of cutting and production reduction in the middle and late of this month. As the main supply, the output in the southern part of Thailand's production areas also fell short of expectations. There are tightening expectations on the supply side, and the raw material side has been maintained. In a bullish state; However, downstream demand is slightly tired. As the Spring Festival holiday approaches, the seasonal off-season starts will bring drag on rubber to a certain extent. Short-term positive supply transmission logic digestion, the macro atmosphere will affect the mood in the market, and rubber prices will fall. However, raw material prices continue to rise, and there is still strong support below the cost end. It is expected that the natural rubber market will fluctuate around this line.