[Natural Rubber]: Rubber Weekly Review (February 1)
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February 1, 2024, 4:39 PM dry rubber
Natural rubber market prices fluctuated within a narrow range this week. The peak supply period in Thailand is coming to an end, overseas supply is in a seasonal contraction, raw material prices are prone to rise but not fall, and expectations for a decline in the volume of standard rubber arriving in Hong Kong are strong. Downstream tire factories are approaching the Spring Festival holiday. After the factory's raw material reserve period, demand is expected to decline, or the upward trend of rubber prices will be limited. Long and short support coexist with pressure, and without obvious driving, the range remains volatile.
natural latex
This week, China's thick milk offers basically remained at a high level. Vietnam and northeastern Thailand have successively stopped cutting. The glue market in southern Thailand has maintained a firm and upward trend. The external thick milk processing factory has raised its offer, and the cost side has given the market strong support. The supply in the spot market in the sales area is limited. Traders hold mostly forward orders. A small number of spot offers are high. Most customers are closed to wait and see. The Spring Festival annual holiday is approaching, and inquiries and purchases from downstream product companies have significantly weakened, more than this week. The market is closed, the range of price fluctuations is narrower, and the transaction atmosphere is colder.
Market outlook forecast:
1、国外产区原料产出收紧预期明显，成本支撑维持高位；
2、预计下周期轮胎样本企业开工率或存小幅走低预期；
3、中国青岛库存量或存去库趋势，高库存压力有所缓和；
4. Exchange rate, Federal Reserve interest rate hikes, etc.