Natural Rubber Daily: Destocking + Procurement Wrap-Up(Sep 23)

Natural Rubber Daily: Destocking + Procurement Wrap-Up

Index

On September 23, the STR20 price index in the Qingdao market for natural rubber was USD 2,500/ton, up USD 60/ton from the previous trading day.

Market Analysis

Overseas: Rainfall disruptions persist in southern Thailand, keeping latex purchasing prices firm. In northeastern Thailand, rainfall decreased month-on-month, and processing mills have begun to lower purchase prices for cup lump.

In Vietnam, weather conditions in producing areas have improved, tapping operations are gradually resuming, and overall output has returned to normal seasonal levels.

Domestic: In Yunnan, weather conditions are 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 reports, all-steel tire enterprises that previously underwent maintenance remain in shutdown status, with resumption dates postponed. Additionally, some enterprises are in the final stages before maintenance, further dragging down tire operating rates. A few enterprises maintain high operating rates to ensure routine product supply. Each enterprise adjusts production schedules flexibly based on its own conditions, but raw material cost pressure persists. As maintenance dates approach for some enterprises, the supply side is expected to be further affected.

Futures and Spot Price Overview

Market Outlook

Thai raw material prices are rising modestly with firm support from costs; domestic inventory destocking continues, which looks positive. However, procurement for the Mid-Autumn Festival and National Day holiday is nearing completion, and purchasing sentiment is cooling. Today, futures prices rose with volatility, and spot offer centers followed the futures market with minor adjustments. Market inquiry activity has improved somewhat.

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