September 8th: Qingdao NR STR20 Price Drop
Index
On September 8, the STR20 price index of the natural rubber market in Qingdao was $1,890/ton, down $5/ton from the previous trading day.
Market Analysis
Futures Market:
Spot Market
Supply:
Overseas: A new typhoon arrived in Thailand, and heavy rains impacted rubber tapping operations. Flooding occurred in parts of northern Thailand, leading to tight raw material supplies and factories purchasing at high prices.
Average raw material prices continued to rise. Weather conditions in Vietnam's producing areas improved compared to last week, but tapping operations were disrupted by intermittent rainfall. Raw material supply remained tight, but output showed a slow recovery. Processors actively purchased raw materials to secure orders, supporting stable to slightly strong prices.
Domestic: Rainfall in Yunnan's producing areas eased, significantly improving rubber output. However, pressure on raw material supply remained, supporting a continued strong trend in raw material purchase prices. Weather conditions in Hainan's producing areas improved, and raw material production gradually resumed normal release. However, due to poor orders and profits, local processors' enthusiasm for restocking high-priced raw materials declined, leading to a decline in raw material purchase prices.
On the demand side: It is understood that most companies undergoing maintenance have returned to normal levels, semi-steel tire manufacturers have increased snow tire production, and some large-scale enterprises have increased production. Due to the overall concentration of foreign trade and domestic sales, some domestic specifications are out of stock.
Futures and Spot Price List
Market Forecast
Today, the main rubber futures contract market continued to fluctuate, with spot prices following the market in a narrow range. Holders were cautious in their offers and showed little willingness to sell at low prices. Raw material prices remained high, cost support remained solid, and spot inventories continued to decline.
Fundamentals were strong, and downstream companies continued to replenish stocks based on rigid demand, with limited acceptance of high-priced raw materials. Rubber prices are expected to remain strong and consolidate in the short term.
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