Oct 15th: Qingdao Rubber Price Update
Index
On October 15th, the STR20 price index of natural rubber in the Qingdao market was $1,850/ton, up $40/ton from the previous trading day.
Market Analysis
Futures Market:
Spot Market
Supply:
Overseas: Rainfall in Southeast Asia is easing, and the pace of new rubber supply in overseas production areas is slowing. Raw material procurement prices remain high, and Southeast Asian processing plants are unwilling to reduce prices for shipments, so cost support remains.
Domestic: Yunnan's production areas are experiencing mostly rainy weather, resulting in a low supply of rubber, hindering raw material procurement, and temporarily stable prices. Continued rainfall in Hainan's production areas has increased disruptions to rubber tapping, slowing the seasonal pace of raw material supply, and recovering production profits for local processing plants.
Demand: It is understood that most companies are still in a stage of flexible production control. Overall, new orders are limited, market demand is insufficient, and the pace of domestic and foreign sales is slower than expected, resulting in continued sales pressure. It is reported that after price increases by some companies, shipments have slowed, allowing for inventory replenishment.
Futures and Spot Price List
Market Forecast
Today, the main rubber futures contract remained stable, fluctuating within a range. Trading activity remained subdued, with an unstable center of gravity. Overseas raw material prices declined, and cost support remained weak.
Downstream tire companies are currently focusing on depleting inventory, resulting in weak actual trading volume. Overall, rubber prices are insufficiently driven by upward pressure, and we expect prices to remain weak and volatile in the short term.
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