Rubber Daily Report: Volatile Pattern Continues
Index
On July 24th, the Qingdao STR20 price index for natural rubber was $2190/ton, down $30/ton from the previous trading day.
Market Analysis
Futures Market:
Spot Market
Supply Side:
International: Overall weather conditions in Thailand improved compared to the previous period, leading to an increase in new rubber production. Thai factories were 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 disrupted tapping operations, limiting the actual release of raw materials.
Domestic: Weather conditions in Yunnan improved, resulting in good rubber collection and a slight easing of purchase prices due to increased raw material supply. Weather conditions in Hainan gradually improved, with tapping operations resuming, leading to an increase in raw material production on the island compared to the previous period.
On the demand side: It is understood that most tire companies are currently maintaining controlled production, a few are still undergoing equipment maintenance, and some have implemented production stoppages or reductions, resulting in low operating rates. Companies are flexibly adjusting their product structure, with production primarily focused on export orders. Due to production scheduling, some companies are experiencing slight shortages of certain product specifications, but this has not yet significantly affected order delivery.
Futures and Spot Prices Overview
Market Forecast
Today, the futures market fluctuated, with an unstable center of gravity. Holders were cautious in their offers. Production areas are still in a seasonal supply increase cycle, and supply pressure has not subsided. Downstream demand has not improved significantly, with purchases remaining primarily for immediate needs.
Actual trading was somewhat sluggish. In the short term, weather conditions in production areas may provide temporary support for rubber prices, but this is unlikely to reverse seasonal supply pressures. The range-bound trading pattern for rubber prices is likely to continue.
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