Natural Rubber Market Price Analysis(January 10, 2025)
1. Index
On January 7, the STR20 price index of natural rubber Qingdao market was 1940 USD / ton, down 30 USD / ton from the previous trading day.
2. Market Analysis
Spot Market
On the supply side:
Abroad: The weather in Thailand has improved, but the recovery of rubber cutting is slow, and raw material prices have begun to show signs of recovery.
Domestic: Yunnan production area stopped rubber cutting, rubber price is not available. The supply of raw materials is tight, the spot rubber price has been lowered significantly, and many factories are taking cautious and wait-and-see attitude.
Affected by seasonal changes in Hainan, the rubber forests in some areas have been required to stop cutting, and some concentrated latex processing plants have entered a state of shutdown, and it is expected that the Hainan production areas will be stopped cutting after the end of the month.
On the demand side:
It is learned that some devices of the all-steel tire sample enterprises have short-term maintenance plan, and some other semi-steel tire enterprises plan to overhaul, are dragging the production. The maintenance enterprises have resumed work and production as planned, the many of them have been restored to the conventional level to supplement the pre-holiday inventory.
3. Forecast for the future market
Today's main rubber contract closed in a narrow range today. On the supply side, the overseas weather has gradually returned to normal. Southern Thailand has entered the peak production period, so the output of raw materials is expected to improve, and the price of raw materials has shown a downward trend, and the domestic production areas have basically entered the suspension period. The actual procurement significance of raw material prices is limited, and the overall support of the cost side is relatively limited; The off-season of tourism consumption is obvious, and the operating rate of terminal tire companies is approaching the end of the year, or will gradually decline; On the macro front, there is no good news to boost the market, the market bearish sentiment continues to brew, and it is expected that the short-term rubber price will continue to fluctuate and weaken.
