Natural Rubber Price Dec 2
Index
On December 2nd, the Qingdao STR20 price index for natural rubber was $1835/ton, unchanged from the previous trading day.
Market Analysis
Futures Market:
Spot Market
Supply Side:
Internationally: Northeast Thailand maintained peak production, leading to a decline in cup lump prices; Southern Thailand experienced easing rainfall, with raw material prices expected to fall; Weather conditions in Vietnam's producing areas varied regionally. Southern Vietnam remained sunny, with tapping conditions continuing to improve, and supply returning to normal levels. Central Vietnam was affected by a typhoon, resulting in heavy rainfall in producing areas, disrupting tapping operations in some areas and causing some disturbance to supply, supporting raw material prices at high levels.
Domestically: In Yunnan, raw material prices remained stable. Rubber farmers began shipping their rubber blocks, resulting in relatively ample supply. Some factories will suspend latex purchases tomorrow. In Hainan, continued rainfall and gradually decreasing temperatures increased disruption to tapping operations, leading to a decline in the dry content of fresh latex and an overall reduction in raw material output. However, dragged down by lower offers from overseas processing plants, local processing plants showed less willingness to replenish their high-priced raw material inventories, resulting in a slight decrease in raw material prices.
On the demand side: It is understood that most companies that underwent maintenance last week resumed production as planned, and equipment production is gradually recovering. However, overall order performance was generally weak, and high operating rates were difficult to maintain. After some companies resumed production, overall levels were slightly lower than the previous month's normal levels. Other companies still have maintenance schedules. Overall, the tire supply remained weak at the beginning of the month.
Spot and Futures Prices Overview
Market Outlook
Today, the main rubber futures contract fluctuated within a range, while spot offers remained largely unchanged. Holders showed moderate willingness to offer prices. As the floods in southern Thailand gradually recede, overseas raw material prices stopped rising and began to fall.
Downstream buying enthusiasm was low, with demand primarily focused on immediate needs. Market sentiment turned bearish, and without strong positive support, rubber prices are expected to continue to decline.
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