Natural Rubber Daily: Continued Range-Bound Trading(Sep 22)

Natural Rubber Daily: Continued Range-Bound Trading

Index

On September 22, the STR20 price index in the Qingdao natural rubber market was $2,440/ton, up $35/ton from the previous trading day.

Market Analysis

Overseas: Rainfall continues to disrupt southern Thailand, keeping latex purchase prices firm. Rainfall in northeastern Thailand decreased month-on-month, and processing plants have begun lowering purchase prices for cup lump.

In Vietnam, weather conditions have improved, tapping operations are gradually resuming, and overall output is returning to normal seasonal levels.

Domestic: In Yunnan, weather is normal, tapping operations are proceeding normally, and raw material supply continues to increase gradually, with some low-priced material still available.

In Hainan, weather conditions have improved, tapping operations are proceeding normally, and raw material supply is showing seasonal output levels.

Demand

According to market intelligence, most tire manufacturers are maintaining stable operating rates, with maintenance scheduled for the end of the month, leading to expectations of declining overall operating rates. Recently, high raw material prices have led some companies to limit production of economy-tier products. Additionally, winter tire orders for semi-steel tires are occupying production capacity, causing shortages of certain semi-steel tire specifications, which to some extent affects shipment volumes. Overall, production and sales pressure persists.

Futures and Spot Price Overview

Market Outlook

Production areas are still experiencing rain, with raw material price increases providing support. Tire manufacturers have previously stocked up at lower prices, and Qingdao inventories have declined significantly. However, the dual-holiday stocking period is nearing its end, and purchasing sentiment is beginning to wane. With bulls and bears locked in a tug-of-war, natural rubber continues to trade in a range-bound pattern.

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