SunSirs: China Domestic Natural Rubber Market Fluctuates narrowly

https://www.chemnet.com   Aug 06,2024 SunSirs

According to the Commodity Market Analysis System of SunSirs, the domestic natural rubber spot market has fluctuated narrowly recently (7.29-8.5). As of August 5th, the spot rubber market in China's natural rubber market was around 14,069 RMB/ton, an increase of 0.41% from 14,011 RMB/ton on July 29th. On the one hand, there is a narrow fluctuation in raw material prices, and on the other hand, downstream production has slightly rebounded, mainly supporting the demand for natural rubber.

On the one hand, in recent days (7.29-8.5), the supply of raw materials in domestic and foreign raw material production areas has been slow to improve, and the prices of some natural rubber raw materials have slightly increased, providing weak support for the domestic natural rubber market in terms of cost. As of August 5th, the price of Thai glue was 63.50 baht/kg, slightly higher than the price at the end of July; As of August 5th, the purchase price of state-owned and gold rubber water-based concentrated latex raw materials in Hainan production area is around 13,400 RMB/ton, which has been stable recently.

On the other hand, the speed of natural rubber inventory turnover has slowed down. As of July 28, 2024, the total inventory of Tianjiao bonded and general trade in Qingdao area was 474,400 tons, a decrease of 0.36% compared to the previous period.

Partial equipment maintenance has been completed, and downstream all steel tire production has slightly rebounded. Faced with the strong demand support of the natural rubber market, downstream inquiries are cautious, and natural rubber prices have slightly adjusted. As of July 31st, the operating load of semi steel tires in domestic tire enterprises was around 7.9%; The operating load of all steel tires in tire enterprises in Shandong region is about 5.6%.

Currently, the supply of raw materials both domestically and internationally is increasing slowly, and the overall price of natural rubber raw materials is consolidating narrowly; Downstream tire companies have seen a slight increase in production, but remain cautious about purchasing high priced goods; Overall, it is expected that the natural rubber market will continue to consolidate weakly in the short term.

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