Natural Rubber Daily Report: "Bullish Combinations" Drive Rally Continues

Index

On September 8, the STR20 price index in the Qingdao natural rubber market was 2,485 USD/ton, up 55 USD/ton from the previous trading day.

Market Analysis

Futures Market

Spot Market

Supply Side

Overseas: Weather in Thai producing areas has improved somewhat, with second-tier dealers in some regions increasing their shipment volumes. Factory latex collection volumes have recovered, and raw material procurement prices have accordingly stopped rising and stabilized.

Vietnam's producing areas remain in the rainy season, with mostly scattered rainfall and no widespread persistent heavy rain. Daytime tapping operations can be maintained, but recurring rain disruptions have slowed the pace of new rubber release below seasonal expectations.

Domestic: Rainfall in producing areas decreased during the week, and rising finished product prices have kept procurement prices at relatively high levels.

In Hainan producing areas, localized rain has slowed the pace of new rubber release. At the same time, boosted by rising futures and spot market prices, local processing plants have shown high production enthusiasm, with intensifying sentiment to bid up raw material prices. The center of latex procurement prices has continued to move higher.

Demand Side

According to industry sources, enterprises that previously underwent maintenance are mostly resuming production as planned, with capacity gradually recovering. Recovery conditions vary, with most enterprises flexibly adjusting based on their own order situations. Some all-steel tire enterprises, anticipating price increases for mid-month export orders, are currently focusing on concentrated production of export orders. Meanwhile, some semi-steel tire enterprises still face insufficient overall orders, and production control measures continue. Overall, operating rates are showing a recovery-driven increase.

Futures and Spot Price Table

Market Outlook

Currently, bullish factors in the natural rubber market are being released in a concentrated manner, providing relatively solid support for the market. On the cost side, raw material prices in both domestic and overseas producing areas have risen in tandem, significantly strengthening the cost support for natural rubber. On the inventory side, spot inventories continue to destock, easing supply pressure. On the demand side, downstream restocking for essential needs continues to support rubber prices from the bottom. In addition, the related product synthetic rubber is showing strong gains, further boosting market bullish sentiment. With multiple bullish factors resonating, the short-term natural rubber market is steeped in a bullish atmosphere, and rubber prices are likely to maintain a firm-to-strong trend.

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