Qingdao STR20 Natural Rubber Price (May 19)
Index
On May 19th, the Qingdao STR20 price index for natural rubber was $2290/ton, up $10/ton from the previous trading day.
Market Analysis
Futures Market:
Spot Market
Supply Side:
International: Increased rainfall in Thailand has led to higher tapping rates in the north, northeast, and east, nearing full-scale tapping. Tapping in the southern producing areas is progressing smoothly, with the overall tapping pace showing a significant improvement compared to the previous period.
Vietnam's tapping progress is steadily increasing. Weather in the main producing areas is generally suitable, and sporadic short-term rainfall has not affected operations. Overall, tapping in the southern main producing areas has reached about 70%, with Binh Duong reaching about 50%.
Domestic: Increased rainfall in Xishuangbanna, Yunnan, has alleviated the previous drought. Stimulated by prices, expectations for increased tapping volume in the producing areas are strengthening.
Local rainfall in Hainan has increased the impact on tapping operations, slowing the release of new rubber. High-priced spot transactions for concentrated latex are difficult, impacting the production profits of local processing plants and cooling their enthusiasm for bidding up raw material prices.
On the demand side: It is understood that most enterprises' facilities are operating stably, and some all-steel tire manufacturers that underwent maintenance have restarted their facilities, with production gradually recovering. To control costs, production will gradually increase to high levels in the coming days. The supply of all-steel tire products is ample, but overall shipments are weak, and overall inventory continues to show a slight increase.
Futures and Spot Prices Overview
Market Forecast
Today, the futures market fluctuated and weakened, with spot offers adjusting downwards in line with the futures market. Increased supply expectations from domestic and international production areas are gradually materializing, and upstream factories' enthusiasm for procuring raw materials has clearly subsided.
Latex prices have declined in tandem, and downstream inquiries are not enthusiastic, with only small-scale replenishment for immediate needs at lower prices. The trading atmosphere in the market is sluggish, weakening bullish sentiment. The natural rubber market may experience a weak consolidation in the short term.
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