August 6 Qingdao Rubber STR20 Price Stable

Index

On August 6, the STR20 price index of natural rubber in the Qingdao market was $1,770/ton, stable compared to the previous trading day.

Market Analysis

Futures Market:

Spot Market Supply:

Internationally: Weather improved across most of Thailand, leading to a slow increase in supply and dragging down raw material prices. Rain continued to disrupt parts of Vietnam's production areas, but overall output showed steady seasonal growth. Vietnamese rubber processing plants saw improved shipments of finished products, driving increased activity in raw material procurement and supporting relatively firm raw material prices.

Domestically: Weather improved in parts of Yunnan, leading to a slight increase in rubber release compared to the previous week. Processing plants continued to rush to harvest raw materials, keeping raw material prices firm. Improved weather in Hainan's production areas led to a seasonal outflow of supply. Processing plants saw limited profit margins, reducing their willingness to restock high-priced raw materials, which in turn depressed raw material purchase prices.

Demand: It is understood that most companies maintained stable production at the beginning of the month. Some all-steel tire companies, impacted by inventory shortages, saw a slight increase in production to meet order demand. Currently, companies undergoing maintenance have not yet resumed work, which continues to limit the overall increase in production. 

Futures and Spot Price Overview

Market Forecast

Today, the main rubber futures contract saw volatile trading, with spot quotes fluctuating within a narrow range. Overseas raw material prices strengthened, while Qingdao spot inventories saw a slight decrease, easing spot pressure. The synergistic rebound in futures and spot prices continued, boosting sentiment in the natural rubber market and boosting buying activity. We anticipate a continued upward rebound in rubber prices in the short term.

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