Natural Rubber Price Drop on July 30th
Index
On July 30, the STR20 price index of the natural rubber market in Qingdao was $1,795/ton, down $15/ton from the previous trading day.
Market Analysis
Futures Market:
Spot Market Supply: Internationally: Heavy rainfall continued to disrupt rubber tapping in parts of Thailand, impacting raw material procurement prices. Raw material prices continued to rise, but factories faced little pressure. Raw material prices in Vietnam rose, while cup rubber prices remained relatively strong. Typhoon Wipha brought heavy rainfall to northern and central Vietnam, but tapping operations in the main southern producing areas were not significantly affected, maintaining the seasonal supply growth trend.
Domestically: Rainfall affected Yunnan's rubber production areas, slowing rubber production. Tight raw material supply supported strong purchase prices. Weather conditions in Hainan were favorable, and tapping operations continued to resume. Raw material output on the island showed seasonal growth. Influenced by profit margins and other factors, local processing plants rushed to purchase raw materials at high prices, resulting in a reduction in raw material purchase prices.
On the demand side: It is understood that some semi-steel and full-steel tire manufacturers are still in the final stages of production and will gradually suspend operations in the near future. The increasing number of companies undergoing maintenance will further drag down the overall operating rate. At the end of the month, domestic and foreign sales will be relatively concentrated, which will to some extent benefit the reduction of finished product inventory.
Futures and Spot Price List
Market Forecast
Today, the main rubber futures contract fluctuated within a range, with spot quotes showing little movement. Holders showed reasonable interest in their offers. Raw materials remained at high levels, and cost support remained.
Downstream demand was generally average, with retailers maintaining a restocking strategy based on dips. In the short term, the rubber price correction may be coming to an end, and rubber prices are expected to remain weak and consolidate after a decline.
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