Oct 21 Qingdao STR20 Rubber Price Up
index
On October 21, the STR20 price index of natural rubber in the Qingdao market was $1,860/ton, up $30/ton from the previous trading day.
Market Analysis
Futures Market:
Spot Market
Supply:
Overseas: Rainfall has eased in northeastern and northern Thailand, while irregular rainfall has disrupted southern Thailand. Prices for rubber raw materials may continue to diverge. Weather in Vietnam's production areas has improved, and rubber supply is returning to normal. Supported by domestic demand from factories, rubber price fluctuations are limited.
Domestic: Rainfall disturbances persist in Yunnan, but the overall impact is minimal. Processing plants are constrained by high processing costs and inverted profits, leading to a slight decrease in raw material purchase prices. Rainfall disturbances persist in Hainan's production areas, slowing supply growth. However, due to continued losses in processing profits, local processing plants are generally reluctant to purchase raw materials, resulting in a decline in rubber purchase prices.
On the demand side: It is understood that tire companies are generally maintaining stable production, with no significant increase in recent orders. Most companies are maintaining their previous production pace. Some companies that have increased prices have seen slower shipments, with inventory reserves slightly increasing compared to previous periods. Overall shipment performance is average, with most maintaining normal sales.
Futures and Spot Price List
Market Forecast
Today, the main rubber futures contract market remained relatively strong and volatile, with spot prices rising in line with the market. Raw material prices remained firm, and cost support continued. Overall downstream demand was subdued. The current lack of strong fundamental drivers, coupled with macroeconomic uncertainties, suggests that rubber prices are expected to fluctuate and consolidate in the short term.
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