Natural Rubber Price Trend Nov 26
Index
On November 26th, the Qingdao STR20 price index for natural rubber was $1835/ton, up $5/ton from the previous trading day.
Market Analysis
Futures Market:
Spot Market
Supply Side:
International: Northeast Thailand maintained peak production, while heavy rainfall in southern Thailand affected tapping, leading to an upward trend in latex and cup lump prices. In Vietnam, weather improved, with reduced rainfall in major producing areas, optimizing tapping conditions and gradually restoring supply to normal levels. However, sporadic localized rainfall still disrupted raw material supply.
Domestic: Overall, raw material prices in Yunnan remained relatively stable, with some processing plants accepting limited amounts of rubber. In Hainan, weather conditions were favorable, and tapping operations continued normally. Local processing plants faced significant production cost pressures and primarily purchased raw materials on an as-needed basis.
On the demand side: It is understood that semi-steel tire manufacturers are facing continued pressure on overall production. Current domestic and international sales orders are below expectations. To alleviate this pressure, companies are staggering their maintenance schedules, adjusting maintenance times based on their own shipments and inventory levels, with most maintenance lasting around a week. Most companies have already completed snow tire production by mid-month, while a few are still producing at a low level to maintain stable production.
Futures and Spot Prices Overview
Market Forecast
Today, the main rubber futures contract continued its volatile pattern, with spot offers following the narrow range. Domestic production areas are gradually entering the off-season for production reduction and tapping. Overseas, the speculative sentiment surrounding the floods in southern Thailand persists, increasing expectations of tight supply and driving up raw material prices.
Downstream restocking sentiment is weak, and Qingdao spot inventories have accumulated significantly. In the short term, the natural rubber market remains divided between bulls and bears, and rubber prices may fluctuate within a range.
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