Natural Rubber Price Rises (February 24)
Index
On February 24th, the Qingdao STR20 price index for natural rubber was $2055/ton, up $65/ton from the previous trading day.
Market Analysis
Futures Market:
Spot Market
Supply Side:
International: Except for a small amount of production remaining in southern Thailand, the main producing areas in northeastern Thailand have entered the off-season. Vietnam's producing areas have also entered the off-season.
Domestic: Tapeing has ceased in Yunnan and Hainan.
Demand Side: It is understood that production resumed relatively quickly from the sixth to the eighth day of the Lunar New Year after the holiday, and capacity utilization will show a phased recovery.
With the logistics industry gradually resuming operations after the holiday, companies have also started shipping. Attention should be paid to the timely resumption of work after the holiday.
Futures and Spot Price Overview
Market Forecast
Today, futures prices rose sharply, and spot offers followed suit. Overseas raw material prices continued their upward trend, and the cost of natural rubber remained a boost. With no significant improvement in demand, downstream buyers are mostly cautious and hesitant, resulting in low buying enthusiasm. Driven by external macroeconomic sentiment, rubber prices may exhibit a slightly stronger but volatile trend.
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