[Natural Rubber]: Rubber Daily Journal (February 4)
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February 4, 2024, 3:16 PM Analysis of natural rubber market price on February 4
index
On February 4, the STR20 price index of natural rubber Qingdao market was 1530. Futures were closed due to holidays, and the quotation was stable compared with the previous trading day.
market analysis
Futures market: Closed on holidays
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 are not available.
Demand: Some all-steel tire enterprises in Weifang and Dongying areas of Shandong Province have stopped production and holidays before February 2 (the 23rd of the twelfth lunar month). Currently, shipments are suspended. Some enterprises are still closing down their equipment, logistics is suspended, and shipments in China are suspended. Foreign trade is still being shipped, and the overall inventory of all-steel tire enterprises is high.
market outlook
Today is a holiday, futures are closed, and market quotes are scarce. As far as the current natural rubber market situation is concerned, the next cycle coincides with the Chinese New Year holiday. After the supply hype was digested by the market before the year, the market trading logic points to the demand side, but near the Spring Festival, most downstream factories have basically entered a holiday. Coupled with the heating of capital risk aversion, Tianjiao is weak and volatile before the holiday.