Natural Rubber Price Rises to $2025/ton
Index
On March 6th, the Qingdao STR20 natural rubber price index was $2025/ton, up $20/ton from the previous trading day.
Market Analysis
Futures Market:
Spot Market
Supply Side:
International: Large-scale tapping has ceased in northern and northeastern Thailand, leading to a stronger cup lump price; tapping is gradually ceasing in northern and southern Thailand, resulting in a contraction in total output. Factories have restocking needs, leading to a supply shortage of latex and a continued rise in prices. Vietnam's production areas have entered the off-season.
Domestic: Tapping has ceased in Yunnan and Hainan.
Demand Side: It is understood that there are sufficient export orders for semi-steel tires this month. Currently, most companies are operating actively to fulfill export orders. However, geopolitical factors are causing increased obstacles to shipments from the Middle East and other regions.
Domestic sales are still in the post-holiday restocking phase, but overall inventory is insufficient, order fulfillment rate is low, and the divergence between production and sales is intensifying.
Spot and Futures Prices Overview
Market Outlook
Today's volatile upward trend boosted market sentiment, with holders adjusting their offers slightly upwards. Overseas raw material prices have recently shown signs of weakening, upstream costs have eased slightly, and with the domestic tapping season approaching, market expectations for new supply have strengthened, leading to continued bearish sentiment among industry players.
Continued geopolitical risks overseas make synthetic rubber prices more likely to rise than fall, while uncertainties exist in tire exports. Amidst this mixed environment, the natural rubber market may enter a period of consolidation in the short term.
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