[Natural Rubber]: Monthly Rubber Review (July 2024)
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July 31, 2024, 2:05 PM dry rubber
this monthThe spot market price of natural rubber in China has fallen within a narrow range. It is currently at the stage of heavy tapping in the world's major natural rubber producing areas. However, rainfall disturbances continue. After entering the second half of the year, the typhoon season is approaching. Rubber production areas are affected by typhoons and rubber harvesting is blocked. The decline in raw material prices has slowed down, but it has basically remained relatively strong. The downstream is in the off-season of traditional consumption, which has dragged down the construction of all steel companies and continued to decline. The inventory removal of Tianjiao society has narrowed, suppressing market sentiment and dragging down rubber prices.
natural latex
this monthChina's natural latex market has basically continued its previous downward trend. At the beginning of the month, with the end of typhoon weather in Hainan producing areas, precipitation disturbances weakened and raw material output increased. The purchase price of glue began to fall slightly. Coupled with insufficient follow-up from downstream demand, market buying was deserted and the market was weak. However, downstream products companies continue to be bearish on the market outlook, and their inquiries are cautious, and actual transactions are negotiated.
Market outlook forecast:
In January and August, the supply of raw materials in production areas at home and abroad is expected to increase significantly, and cost support is weak;
2. It is expected that the tire operating rate will improve in August;
In March and August, the social inventory of Tianjiao is still expected to be stored and removed.