SunSirs: China Domestic Natural Rubber Market is on the Rise

https://www.chemnet.com   Aug 30,2024 SunSirs

According to the Commodity Market Analysis System of SunSirs, the domestic natural rubber spot market has seen a significant increase in recent days (8.15-8.28). As of August 28th, the spot rubber market in China was around 15,230 RMB/ton, an increase of 6.12% from 14,352 RMB/ton on August 15th. On the one hand, raw material prices have slightly increased, and on the other hand, downstream all steel tire production has slightly rebounded. Natural rubber prices have risen due to cost and demand support.

Recently, the weather in Thailand and Vietnam's production areas has been poor, and some areas in Yunnan Province have been affected by seasonal leaf fall disease, which has led to a certain degree of obstruction in the supply of natural rubber raw materials at home and abroad, resulting in a slight increase in the price of natural rubber raw materials. As of August 28th, the price of Thai glue is 66.70 baht/kg, which is higher than the price of 64.00 baht/kg on August 15th; As of August 28th, the purchase price of state-owned and gold rubber water-based concentrated latex raw materials in Hainan production area is around 14,000 RMB/ton, slightly higher than the price of 13,900 RMB/ton on August 15th.

Natural rubber inventory maintains a slow destocking trend. As of August 25, 2024, the total inventory of Tianjiao bonded and general trade in Qingdao area was 460,100 tons, continuing to decline slightly.

With the support of domestic policies to promote automobile consumption, the downstream tire industry has maintained a stable and positive trend. The production of all steel tires has rebounded compared to the previous period, and demand is facing the urgent support of the natural rubber market. As of August 23rd, the operating load of semi steel tires in domestic tire enterprises is around 79%; The operating load of all steel tires in tire enterprises in Shandong region is about 58%.

Current domestic and international raw material supply prices are rising; Under the policy of promoting consumption, the construction of all tire enterprises has slightly rebounded, providing certain support for natural rubber; Overall, in the short term, supported by costs and demand, it is expected that the natural rubber market will experience strong fluctuations.

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