Oct 27 Qingdao Rubber Price Up
Index
On October 27, the STR20 price index of the natural rubber market in Qingdao was $1,880/ton, up $10/ton from the previous trading day.
Market Analysis
Futures Market:
Spot Market
Supply:
Overseas: Typhoons in Thailand caused heavy rainfall in southern production areas, hindering the release of raw materials. Factories raised prices, driving up both rubber and cup rubber prices. Typhoon-affected production areas in Vietnam limited overall raw material output, supporting relatively firm rubber prices.
Domestic: Rubber tapping in Yunnan production areas was normal, with adequate raw material supply. Driven by the strong futures and spot markets, raw material purchase prices remained firm. Increased precipitation in Hainan production areas slowed the resumption of tapping operations, limiting the pace of raw material production. Furthermore, given the potential for continued weather disturbances, some processing plants are raising prices to ensure production and delivery, driving up raw material prices.
On the demand side: It is understood that production operations generally remain stable, while overall market demand is weak. Shipments are stable but weak. Some companies that have implemented price increases have seen shipments slow, and overall inventories at some companies are showing an upward trend.
Futures and Spot Prices Overview
Market Forecast
Today, the main rubber futures contract continued its volatile pattern, with spot prices rising slightly within the quoted range. Raw material prices remain high, providing strong short-term support for rubber prices. In the medium and long term, expectations of increased supply remain. Tire companies are reluctant to stock up on high-priced raw materials, which will to some extent affect the pace of inventory reduction. We expect bullish sentiment to remain in the short term, and rubber prices may remain relatively strong.
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