October 9th: Qingdao STR20 Rubber Price Up
Index
On October 9th, the STR20 price index of natural rubber in the Qingdao market was $1,860/ton, up $40/ton from the previous trading day.
Market Analysis
Futures Market:
Spot Market Supply:
Overseas: Parts of northeastern Thailand continued to experience periodic rainfall disturbances, while weather in southern Thailand improved, with a gradual increase in production. Raw material output increased, dragging down raw material prices. Typhoons and rainfall impacted Vietnamese production areas, resulting in a contraction in rubber supply. Meanwhile, processors were actively fulfilling orders and continued to purchase, supporting an upward trend in rubber prices.
Domestic: Yunnan production areas experienced abundant rainfall during the holiday season, slowing the release of raw materials. However, due to the pre-holiday decline, raw material prices remained weak. Precipitation in Hainan production areas improved, reducing the impact on tapping operations, and new rubber production gradually recovered. Due to the demand for replenishment and delivery after the holiday, some processors were increasing prices to rush to purchase raw materials.
On the demand side: With the National Day and Holiday holidays over, it is understood that many companies that took advantage of the holiday for maintenance have resumed work and production as planned, and overall capacity utilization is recovering. In the new month, some all-steel tire manufacturers announced price increases ranging from 1% to 2%, while other companies are taking a wait-and-see approach. Due to the holiday, market restocking is limited. Some agents indicate that prices for existing products are currently stable, but price increases are not ruled out.
Futures and Spot Prices Overview
Market Forecast
Today, the main rubber futures contract saw strong fluctuations, with spot prices following the upward trend. Rainfall in major overseas producing areas has eased, increasing expectations for raw material increases, putting pressure on raw material prices.
However, with the resumption of work and production in downstream areas after the holiday, the production rhythm has improved, which is conducive to inventory reduction and boosting rubber prices. In the short term, the recovery in demand may drive expectations of an improvement in rubber prices.
Our platform connects hundreds of verified Chinese chemical suppliers with buyers worldwide, promoting transparent transactions, better business opportunities, and high-value partnerships. Whether you are looking for bulk commodities, specialty chemicals, or customized procurement services, TDD-Global is trustworthy to be your fist choice.
