Analysis of natural rubber market price on August 26

index

August 26June, Natural Rubber Qingdao Market STR20 Price Index1830 beautifulYuan/ton, compared withThe previous trading day rose by US$30/ton.

market analysis

futures market

spot market

Supply:

Abroad: The precipitation in southern Thailand is still in a high trend, disrupting rubber tapping work in some areas. The overall supply shows a small month-on-month increase. Coupled with the demand for replenishment in upstream factories in Thailand, further supporting the rise in raw material purchase prices.

China: The former Yunnan production area has been affected by continuous rainfall, which has seriously affected the current glue collection process. Glue prices have risen strongly, and the amount of glue collected has been very small. Hearing that secondary leaf leaves have occurred again, it is expected that the amount of glue will be postponed again.

The weather in Hainan's production area has eased, raw material stocks are expected to increase, and raw material production has gradually returned to normal seasonal volume. However, high-priced transactions in the spot market have not been good, and the factory's production profit margin has been limited. The enthusiasm of processing plants to purchase raw materials has declined, and the purchase price of raw materials has dropped slightly.

Demand side:The start-up of all steel tire maintenance enterprises has basically returned to normal levels. Some other maintenance enterprises have gradually resumed production. The overall start-up is gradually recovering, which will have a certain positive impact on the overall all-steel tire output. Overall shipments are average, and inventories are slowly increasing. In terms of the market, market transactions continue to be flat and prices remain stable. In order to complete the monthly task volume, first-level agents are still enthusiastic about getting goods, the downward flow of goods through channels is slow, and terminal dealers mainly digest existing inventories.

Futures spot price list

market outlook

Recently, the trend of improving the main rubber contract has become clear. As of now, due to weather and other reasons, the overall cutting situation in the main natural rubber producing areas outside China has fallen short of expectations, which supports the current high level of raw material prices, and cost support still exists. The overall demand in the demand-side market is insufficient. Although there has been a slight increase compared with the previous month in the near future, the overall improvement is limited. The current pressure on inventory is still relatively high, and the overall destocking continues, but the speed needs to be improved. Overall, rubber has continued to operate in shock recently, fluctuating upward in a narrow range.