Natural Rubber STR20 Steady in Qingdao

Index

On July 4, the STR20 price index of natural rubber in Qingdao market was 1720 USD/ton, which was stable compared with the previous trading day.

Market analysis

Futures market

Spot market

Supply:

Foreign: The overall raw material supply in Thailand has been steadily increasing. Due to the weak demand for concentrated milk, the price of glue has continued to fall. Dry rubber factories are still adding prices to compete for raw material production, and the price difference between cups of water has narrowed; Vietnam's production areas have entered a seasonal production increase cycle, the weather has improved, the supply of raw materials has increased, and the purchase price has shown a slight correction trend.

Domestic: Continuous rainfall in Yunnan production areas has hindered rubber tapping operations, the output of glue is limited, and the tightening supply of raw materials has pushed up the purchase price; Hainan production areas have been affected by continuous rainfall, the release of new rubber on the island has been slow, and it is difficult to trade concentrated milk at high prices. The profits of processing plants are under pressure, and the sentiment for purchasing raw materials is cautious, and the purchase price of glue has fallen slightly.

Demand: It is understood that the price of raw materials fluctuated slightly, the cost side was basically stable, the terminal demand was flat, and the effect of price reduction and promotion in the early stage was general. At the beginning of the month, all enterprises maintained a wait-and-see attitude, and the possibility of further price reduction was relatively small. They mostly supported specific promotion policies for some products based on their own conditions.

List of futures and spot prices

Market forecast

Today, the closing price of the main rubber contract was adjusted in a narrow range. The continuous precipitation disturbance in domestic production areas supported the price of raw materials, but the overseas volume was expected to suppress the price increase, and there was no strong drive on the supply side. At present, it is difficult to have substantial improvement on the demand side, and the destocking of spot inventory is slow; the futures market is strong and volatile, the market is unstable and the downstream demand is weak, the inquiry atmosphere in the market is not good, the market trading sentiment is cautious, and the actual order trading is weak. It is expected that the rubber price may be weak in the short term.

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