[Natural Rubber]: Rubber Daily Journal (July 23)

index

July 23June, Natural Rubber Qingdao Market STR20 Price Index1665 beautifulYuan/ton, compared withThe previous trading day fell by US$25/ton.

market analysis

futures market

spot market

Supply:

Foreign countries: There is more rainfall in northeastern Thailand than in the south, and there is still more rainfall overall, which affects the pace of new rubber release. Restocking by secondary suppliers is not smooth, and there is not much room for downside in raw material purchase prices.

Domestic: Currently, Yunnan production has been fully cut, and glue has entered the stage of comprehensive supply. The current glue price is basically stable and there is little room for decline. Later, we will continue to pay attention to the starting level and output of processing plants in the production area.

Typhoon weather landed in Hainan's production area, and the overall precipitation weather was too high. The development and advancement of rubber tapping work were blocked, and the actual purchase price of raw materials continued to rise.

Demand side:The frequent rainfall and other impacts caused by recent typhoon weather have hindered the construction of outdoor infrastructure work. The vehicle transportation market is still relatively weak. Terminal stores and maintenance are just in need of replenishment, and actual transactions in the spot market remain weak. The overall shipment pace of all-steel tires is slow, and finished product inventory has been running at a high level. The domestic market is weak, combined with the fall in sea freight prices on some routes, the wait-and-see attitude of overseas customers has intensified, and delayed shipments have increased, which has dragged on the overall shipment volume of the company, and the overall shipment pace of domestic and foreign sales has been slow.

Futures spot price list

market outlook

Today, the main rubber contract remains weak and consolidating. Although there have been recent weather disturbances such as typhoons in the production area, the overall volume is still in a seasonal increase. The off-season for downstream demand is approaching, and the seasonally starting season of all-steel companies has weakened, dragging rubber prices or being limited by the current trading range. It is expected that the short-term natural rubber market will be limited by the current trading range, and rubber prices may continue to be consolidated sideways.