Rubber Daily Report: Rebound Weak
Index
On August 3rd, the Qingdao STR20 price index for natural rubber was $2145/ton, down $15/ton from the previous trading day.
Market Analysis
Futures Market:
Spot Market
Supply Side:
International: Rainfall in Thailand increased compared to the previous week, but market trading was somewhat sluggish due to the holiday. Processing plants showed little interest in raw material purchases, only replenishing their inventories to meet immediate needs.
Coupled with continued market expectations of increased supply, raw material purchase prices continued to decline. Recent concentrated rainfall in Vietnam's rubber-producing areas has temporarily hampered tapping operations, significantly reducing new rubber production and providing clear support for raw materials and costs.
Domestic: Rainfall continued for most of the day in Yunnan's rubber-producing areas, affecting rubber collection. Due to the impact of declining spot prices on raw materials, purchase prices softened slightly. Rainfall gradually increased in Hainan's rubber-producing areas, hindering tapping operations and resulting in reduced raw material production on the island.
On the demand side: It is understood that enterprises are currently undergoing maintenance and resuming production simultaneously, with some sample enterprises implementing staggered production schedules. Overall, the operating rate is fluctuating slightly, and the plants are generally operating at low levels. Regarding inventory, although there has been some concentrated shipment recently, the overall destocking effect has been limited.
Futures and Spot Prices Overview
Market Forecast
Today, the futures market continued its oscillating pattern, with spot offers following the narrow adjustment within the futures range. On the supply side, increased supply is likely to continue to put downward pressure on raw material procurement prices, limiting cost support. Downstream enterprises are maintaining low operating rates, and spot inventory pressure remains prominent. In the short term, the natural rubber market lacks strong drivers and may continue to show a weak and volatile trend.
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