[Natural Rubber]: Rubber Weekly Review (September 5)
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September 5, 2024, 4:08 PM dry rubber
Rubber prices have continued to pull back this week. Overall, the demand side is slowly developing better. Currently, natural rubber is in the peak season, raw material output has improved. China's foreign raw material prices have shown a downward trend to varying degrees. Supply side support has begun to show a weakening trend. Coupled with Qingdao's inventories continue to fall, the decline has increased significantly. The market is still dominated by de-warehousing, and social inventories have begun to be de-warehousing. The fundamental changes in natural rubber are relatively limited in the short term. Relatively easing the rubber pullback trend.
natural latex
This week, the offer prices in China's concentrated market fell slightly, and the futures market fell. The market wait-and-see atmosphere warmed up. The overall enthusiasm for trading was limited. Traders 'offers were slightly lowered to promote goods delivery. However, the Hainan production area was disturbed by abnormal weather, and the raw materials and cost sides appeared. The upward trend has led some domestic rubber holders in the sales area to increase their offers. Downstream product companies are cautious in making inquiries into the market, and buying orders continue to negotiate actual orders.
Market outlook forecast:
1. The seasonal growth in raw material output in foreign production areas is expected to be obvious, but rainfall disturbances increase, which should continue to pay attention;
2. It is expected that the operating rate of tire sample companies in the next week will fluctuate slightly;
3. The trend of inventory removal in Qingdao, China may ease;
4. Exchange rate, Federal Reserve interest rate hikes, etc.