[Natural Rubber]: Rubber Daily Journal (March 29)
86,981 
March 29, 2024, 4:58 PM Analysis of natural rubber market price on March 29
index
On March 29, the STR20 price index of natural rubber in the Qingdao market was US$1650/ton, which was the same as yesterday.
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 |
|
|
March 29 |
14435 |
14265 |
14485 |
14420 |
15790 |
14420 |
14665 |
|
March 28 |
14250 |
14125 |
14445 |
14435 |
15790 |
14435 |
14655 |
|
rise and fall |
185 |
140 |
40 |
-15 |
0 |
-15 |
10 |
|
date |
Previous period energy: NR futures (closing price) |
|||
|
NR main force |
NR01 |
NR05 |
NR09 |
|
|
March 29 |
11865 |
12425 |
11865 |
12230 |
|
March 28 |
11935 |
12395 |
11935 |
12270 |
|
rise and fall |
-70 |
30 |
-70 |
-40 |
spot market
Supply:
Foreign: Thailand's raw material prices fluctuate endlessly, and the prices of glue and rubber cups continue to decline.
China: Rainfall brings good news, and trial cutting is carried out in Yunnan production areas.
|
price type |
March 28 |
March 29 |
rise and fall |
units |
||
|
raw material prices |
Thailand |
glue |
77.5 |
77 |
-0.5 |
baht/kg |
|
cup glue |
54.8 |
54.7 |
-0.1 |
baht/kg |
||
|
Yunnan |
Glue (into the dry glue factory) |
0 |
0 |
0 |
Yuan/ton |
|
|
rubber block |
0 |
0 |
0 |
Yuan/ton |
||
|
Hainan |
Glue (into the dry glue factory) |
0 |
0 |
0 |
Yuan/ton |
|
|
Glue (Jinnong Dairy Factory) |
0 |
0 |
0 |
Yuan/ton |
||
On the demand side: Semi-steel tire companies have sufficient foreign trade orders, and the price increase has not stimulated China's sales demand as expected. Enterprises have limited depots; the price increase policy of all-steel tire companies continues, and downstream traders are actively stocking up before the price increase., tire companies as a whole go to the warehouse. In terms of the market, shipments in the tire market at the end of the month improved compared with the previous period, but the consumption of goods by the final merchants was slow, and there was no significant positive boost in the replacement market.
Futures spot price list
|
price type |
March 28 |
March 29 |
rise and fall |
units |
||
|
price of finished products |
Shandong |
China All Latex |
13583 |
13733 |
150 |
Yuan/ton |
|
Qingdao |
Thailand No. 20 standard glue |
1650 |
1650 |
0 |
us dollars/ton |
|
|
Qingdao |
Thailand No. 20 mixed glue |
13380 |
13380 |
0 |
Yuan/ton |
|
|
Ningbo |
Hainan |
11700 |
11700 |
0 |
Yuan/ton |
|
|
Ningbo |
Thailand Non-Yellow Bulk |
12700 |
12700 |
0 |
Yuan/ton |
|
|
the current price difference |
Main force-Thailand No. 20 mixed glue |
1055 |
1040 |
-15 |
Yuan/ton |
|
|
Main force-China All Latex |
852 |
687 |
-165 |
Yuan/ton |
||
|
relevant exchange rate |
us dollar against the RMB |
7.2452 |
7.2452 |
0 |
Yuan |
|
|
Thai Baht to RMB |
0.2024 |
0.202 |
-0.0004 |
Yuan |
||
market outlook
Thailand's raw material output continues to decline, and market prices maintain a downward trend, weakening support for rubber costs; raw materials in China's production areas are growing well, and some areas in Yunnan are undergoing trial cutting under the influence of rainfall; today, China's natural rubber market prices have stopped falling and moved upwards, and social inventories have risen slightly, and Qingdao has obviously gone to warehouses; the downstream tire industry remains resistant to high-priced rubber, with most inquiries focusing on price reductions. New orders in the market are limited, and supply and demand are weak. The natural rubber market is expected to consolidate in the short term.