Rubber Prices Edge Up Amid Weather Support
Index
On July 21, the STR20 price index of natural rubber in Qingdao market was 1,800 US dollars/ton, up 5 US dollars/ton from the previous trading day.
Market analysis
Futures market:
Spot market supply:
Abroad: Thailand has more rain, rubber tapping has been hindered, domestic and foreign futures have risen strongly, and the trend of rubber cycle has stabilized; dry rubber factories have increased the price of raw materials for production, and the price of cup rubber has increased significantly; the climate in Vietnam's production area is generally stable, the supply has grown steadily, the purchase price of glue has remained stable, the supply of glue resources is sufficient, and the purchasing rhythm of processing plants is relatively stable.
Domestic: Yunnan's production area has been disturbed by continuous rainfall, which has hindered the normal development of rubber tapping, the supply of glue is relatively small, and the purchase price of raw materials remains high; Hainan's production area has increased precipitation disturbances, the release of raw material production on the island has been significantly restricted, the mood of increasing the price to rush to collect raw materials has heated up, and the purchase price of raw materials has risen slightly.
Demand: It is understood that the maintenance enterprises have resumed work, but some enterprises have been affected by orders and have controlled production, which has dragged down the overall operation rate. At present, the overall operation rate is lower than the normal level. The overall shipment performance is average, and the inventory of enterprises continues to increase. Some enterprises are affected by the previous maintenance, and the supply of some domestic products is tight.
List of futures and spot prices
Market forecast
Today, the main rubber contract futures market fluctuated strongly, and the spot price followed the market center of gravity to move up, boosting market sentiment. Weather interference in the production area may continue, and the raw material support is strong, and the bullish sentiment is strong; downstream demand performance is stable, macro-favorable and cost-side influence, rubber prices continue to strengthen, and the bullish sentiment is strong. It is expected that rubber prices will remain strong and volatile.
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