Natural Rubber Daily: "Double Support" Holds Prices Steady(Oct 8)

Natural Rubber Daily: "Double Support" Holds Prices Steady

On October 8, the STR20 price index in the Qingdao natural rubber market stood at USD 2,600/ton, flat from the previous trading day.

Overseas Supply

In southern Thailand, excessive rainfall has disrupted tapping operations, and raw material output is constrained. In Vietnam, production areas continue to experience overcast and rainy conditions, with intermittent rainfall disrupting tapping progress. Overall output fluctuates with weather conditions, and expectations of periodic supply contraction support firm raw material prices within the week.

Domestic Supply

In Yunnan, no rainfall has been recorded, and latex output is gradually increasing. However, competition among processing plants to secure supply is intense, keeping purchase prices firm.

In Hainan, brief rainfall occurred, affecting tapping operations to some extent. Overall purchase prices stopped declining and rose slightly.

Demand Side

During the National Day holiday, the scope of enterprises conducting maintenance shutdowns further expanded. Some enterprises planned to resume production around October 5, and operating rates continued to decline during the holiday period. This week, enterprises are gradually resuming production, and operating rates are expected to recover gradually. However, high raw material costs will pressure margins, and short-term operating loads may not return to normal levels.

Futures and Spot Price Overview

Market Summary

Post-holiday, the support logic for the natural rubber market remains clear, with macro and industry factors forming a dual resonance. At the macro level, supply reduction expectations driven by the super El Nino event continue to develop, and bullish sentiment among capital may persist, providing emotional and expectation-based support for rubber prices. At the industry level, short-term new rubber supply pressure remains limited on the supply side, and the tight raw material pattern is unchanged. On the demand side, as post-holiday production resumes, tire factory operating loads are expected to increase, and procurement demand is gradually recovering. Macro expectations and industry realities are forming a combined force. Overall, rubber prices continue to receive dual support, and the market is likely to maintain a firm pattern in the short term.

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