Natural Rubber Market Price Analysis
Index:
On February 7, the STR20 price index of natural rubber Qingdao market was 2060 US dollars / ton, up 10 US dollars / ton from the previous trading day.
Market Analysis:
Futures market
Spot market
On the supply side:
Abroad: The cooling in northeast Thailand has led to the acceleration of the pace of rubber cutting, and the northern and southern parts of the country have fallen leaves, affecting the overall raw material output, and the south is gradually entering the end of the peak season.
Home: The main natural rubber producing areas of Yunnan and Hainan have basically stopped cutting, and the price of raw materials is not available for the time being.
On the demand side:
After the holiday, most semi-steel tire enterprises resumed work around the sixth day of the first lunar month (February 3), and it would still take time for the recovery of device production capacity. All-steel tire enterprises concentrated in the sixth (February 3) to the eighth (February 5) to resume work, and the production capacity was gradually recovering. The overall operating rate was still at a relatively low point in the year, after the enterprises resumed work after holiday, there were orders one after another.
Forecast for the future market
Today's main rubber contract closed at an upward trend. On the supply side, the global natural rubber output has transitioned from the peak season to the low production season, and with the gradual decrease in raw material output, the purchase price of raw materials has been supported, and the cost side has been supported by more profits; Downstream tire processing plants have resumed work and production, but in the short term, market demand may remain weak, while trade frictions and other macro policies are still uncertain, so rubber prices are easily dominated by the macro atmosphere, and it is expected that it may maintain range-bound operation in the short-term.