Oct 22nd Qingdao Rubber Price & Outlook
Index
On October 22nd, the STR20 price index of the natural rubber market in Qingdao was $1,860/ton, stable compared to 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. Rainy weather 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 semi-steel tire manufacturers are operating relatively steadily. With recent snowfall in Heilongjiang, Inner Mongolia, and other regions, demand for snow tires has increased. Factories have recently been receiving a high concentration of snow tire orders. Due to insufficient overall snow tire inventory, production is currently being stepped up, resulting in shortages for some all-season tires and foreign trade orders.
Futures and Spot Price List
Market Forecast
Today, the main rubber futures contract saw weak fluctuations, with spot quotes moving slightly downward in line with the market. The market is unstable. Overseas raw material prices have recently remained firm, and supply-side support for rubber prices remains. However, with rising raw material prices, downstream factories are unable to withstand the high prices, which may make it difficult to support continued price increases. In the short term, rubber prices are expected to fluctuate within a range.
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