Rubber Market: Bullish Short-Term

index

On August 11, the STR20 price index of natural rubber Qingdao market was US$1,805/ton, up US$25/ton from the previous trading day.

Market Analysis

Futures Market:

Spot market

Supply:

Foreign: Thailand's weather improved this week, but geopolitical conflicts disturbed, and the price of cup glue was strong; Vietnam's production areas increased seasonally, but factory price increase in procurement supports the price of raw materials to remain strong.

Domestic: Continuous rainfall in Yunnan suppresses raw material output, and glue prices remain stable at high levels; the weather in Hainan production areas has improved, glue cutting has recovered but the pace is still slow, and factories replenishing warehouses have pushed up raw material prices.

Demand: It is understood that in recent days, some semi-steel tires have maintenance phenomena, which has led to a certain drag on the overall operating rate. At present, most companies continue to schedule production stably. Some companies say that before the EU's anti-dumping, export grabbing still exists. Recently, foreign trade goods have concentrated, which has provided certain support for overall shipments, but the overall order performance is average, and the production capacity of most companies has not been effectively released.

Futures and spot prices list

Future market forecast

Today, the futures market of the main rubber contracts fluctuated strongly, the spot quotes followed the market center of gravity upward, the market trading atmosphere was relatively cautious, the downstream maintained the urgent need to purchase, the enthusiasm for inquiry in the market was average, and the actual order transactions during the session were limited; the raw material prices were expected to strengthen, cost support became stronger, domestic spot inventory may continue to be destocked, the supply side was positive, the market was bullish and the market was warming up, and the short-term rubber price was expected to remain strong.

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