Natural Rubber Price Rises (February 11)
Index
On February 11th, the Qingdao STR20 price index for natural rubber was $2000/ton, up $35/ton from the previous trading day.
Market Analysis
Futures Market:
Spot Market
Supply Side:
International: Rubber tapping has ceased in northern Thailand; large-scale leaf drop has occurred in northeastern Thailand, leading to a continuous decline in daily rubber production at the end of the tapping season, resulting in a relatively strong cup lump price; leaf drop has occurred in rubber trees in southern Thailand, prompting latex factories to raise their latex purchase prices.
In Vietnam, the weather is sunny, and tapping in the southern regions is expected to cease near the Lunar New Year, resulting in a continued decline in overall rubber production. The tapping season is nearing its end, and local processing plants are actively stockpiling.
Domestic: Tapping has ceased in Yunnan and Hainan.
Demand Side: It is understood that some semi-steel tire manufacturers that stopped production earlier are now in the final stages of production, while most companies are still in regular production, rushing to fulfill export orders to complete regular supply. Currently, domestic sales are slowing down, while export sales remain the main support.
Futures and Spot Price Overview
Market Outlook
Today, futures prices rose sharply, and spot offers followed suit. Overseas raw material prices continued their upward trend, providing ongoing cost support for natural rubber. Spot market trading gradually weakened, and high inventory levels exerted downward pressure on rubber prices. It is expected that before the holiday, a mix of bullish and bearish factors will lead to a slightly bullish but volatile price trend for rubber.
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