[Natural Rubber]: Rubber Daily Journal (August 20)

index

August 20June, Natural Rubber Qingdao Market STR20 Price Index1780 USYuan/ton, compared withStable on the previous trading day.

market analysis

futures market

spot market

Supply:

Foreign: Precipitation in southern Thailand is still in a high trend, disrupting rubber tapping work in some areas, and the overall supply shows a small month-on-month increase. However, as the rainfall eased, the amount of raw materials was significantly increased. As the demand for overseas replenishment cooled, there was room for reduction in raw material prices.

Domestic: Currently, Yunnan production has been fully cut, but there are frequent rainfall and falling leaves in some areas, and raw material prices remain high.

The weather in Hainan's production areas has eased, the amount of raw materials stored is expected, and the actual purchase price of raw materials has not changed significantly yet.

Demand side:Recently, the operating utilization rate of some all-steel tyre maintenance companies has gradually recovered, but there are still some all-steel tyre companies that have maintenance plans, which has a certain drag on the overall operating rate. In terms of the market, market transactions are sluggish, some brands have certain promotional policy guidelines, downstream purchases are cautious, and small amounts of replenishment are mainly made. They remain bearish about the future outlook, and channel stocks are sufficient.

Futures spot price list

market outlook

Today, the main rubber contract is firm at 10,000 yuan. So far, the rainfall in Thailand in the upstream producing areas has not been limited alleviated, and the output of raw materials still has an impact. Yunnan's production areas have fully entered the rubber tapping season. However, frequent rainfall has caused certain interference to production, and even fallen leaves have occurred in some areas, exacerbating supply constraints and supporting upstream prices. The start-up utilization rate of downstream maintenance companies has gradually recovered, but the overall shipment performance is average and the performance of new orders is differentiated. However, in order to meet customer demand, the start-up is expected to improve slightly in the short term, which will boost the demand for natural rubber to a certain extent. In terms of inventory, the current pressure is still relatively high, and the overall destocking continues, but the speed needs to be improved. The market has long and short signals, and rubber prices continue to fluctuate mainly.