Rubber Daily: Bull-Bear Game (July 27)
Index
On July 27th, the Qingdao STR20 price index for natural rubber was $2190/ton, unchanged from the previous trading day.
Market Analysis
Futures Market:
Spot Market
Supply Side:
International: Overall weather conditions in Thailand improved compared to the previous week, leading to an increase in new rubber production. Thai factories are actively shipping, increasing demand for raw material replenishment and raising raw material procurement prices. Vietnam is in its seasonal production increase cycle, with overall production progressing steadily, but frequent short-term rainfall in the main producing areas has intermittently hampered tapping operations, limiting the actual release of raw materials.
Domestic: Weather conditions in Yunnan have improved, resulting in good rubber collection. The increased raw material supply has led to a slight easing in purchase prices. Weather conditions in Hainan are also improving, with tapping gradually resuming. As new rubber production steadily increases, latex purchase prices have slightly decreased.
On the demand side: It is understood that most tire sample companies are currently experiencing average order performance and slow shipments. Temporary maintenance and production controls remain in place, limiting the overall increase in operating rates. Supply is currently under control, and overall shipments are below expectations, with inventories continuing their slight upward trend.
Futures and Spot Prices Overview
Market Forecast
Today, futures prices fluctuated weakly, while spot offers adjusted narrowly within a range. Holders were reluctant to sell at lower prices. On the supply side, short-term rainfall will continue to cause disruptions, providing some support for raw material prices. However, production areas are in a seasonal supply increase cycle, and supply pressure has not subsided.
Downstream buyers are inquiring at lower prices and making moderate stockpiles for immediate needs. Trading activity is cautious, and the short-term natural rubber market is in a stalemate between bulls and bears, with rubber prices likely to continue to fluctuate within a range.
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