Figure 1: Shandong market price of STR20 MIX Figure 2: Zhejiang market price of ordinary bulk imported from Thailand
dry rubber
This week, the main rubber contract is volatile and difficult to change. As of now, although there is a new round of typhoons arriving on the fundamentals, the impact of natural factors is limited and has little impact on major rubber producing countries. As the weather conditions improve in the upstream production areas, raw material support is expected to decline, and cost-side support is gradually in a weak state. In terms of downstream demand, for all-steel tires, the northern market is gradually entering the off-season. Under the pressure of current low inventory levels, weak demand, and continued high operating levels of raw materials, various companies may continue to flexibly adjust their production schedules, and the overall operating rate will increase. Limited space. The recent weakening of fundamentals has led to natural rubber maintaining signs of decline in the short term. Without any significant changes in fundamentals, it is expected that the natural rubber market will continue to maintain a volatile operation trend in the future.
natural latex
This week, the offer price on the natural latex spot market in China fell, and the offer price on the natural latex spot market fell slightly. Traders were more enthusiastic about making offers. The US dollar ship cargo prices of Thailand's concentrated milk processing plants maintained a downward trend. There is a strong atmosphere of short drag and bearish expectations in the future market. Some natural latex holders mainly sell goods at low prices, but downstream product companies are cautious in making up under the mentality of "not buying down" and insufficient follow-up on actual orders.
Market outlook forecast:
1. The seasonal growth in raw material output in foreign production areas is expected to be obvious, and rainfall should continue to be paid attention to;
2. It is expected that the operating rate of tire sample companies will improve next week;
3. The inventory in Qingdao, China continues to be removed from the warehouse;
4. Exchange rate, Federal Reserve interest rate cuts, etc.
