SunSirs: Cost and Demand Rebound, China Natural Rubber Prices Rose sharply in August

https://www.chemnet.com   Sep 02,2024 SunSirs

According to the Commodity Market Analysis System of SunSirs, the spot price of natural rubber in China has risen significantly since August. As of August 30th, the spot price of natural rubber in China's market was around 15,146 RMB/ton, an increase of 8.58% from 13,949 RMB/ton at the beginning of the month.

The recent heavy rainfall in the main production areas of Southeast Asia has affected the rubber cutting process. The supply of raw materials from domestic and foreign production areas has been slow to increase, and the price of natural rubber raw materials has risen again. As of August 30th, the price of Thai glue was 67.20 baht/kg, an increase of 6.67% from the price of 63.00 baht/kg at the beginning of the month; The purchase price of state-owned and gold rubber water-based concentrated latex raw materials in Hainan production areas in China is 14,000 RMB/ton, an increase of 4.48% from 13,400 RMB/ton at the beginning of the month.

The gradual depletion of natural rubber inventory continues to provide some support for the natural rubber market. As of August 25, 2024, the total inventory of Tianjiao bonded and general trade in Qingdao area was 460,100 tons, a decrease of 14,300 tons from 474,400 tons in late July.

Since mid August, there has been a slight recovery in downstream tire production, and in the short term, there is a certain degree of strong demand support from the natural rubber market. As of August 23rd, the operating load of semi steel tires in domestic tire enterprises is around 7.9%; The operating load of all steel tires in tire enterprises in Shandong region is about 5.8%.

The current rise in domestic and international raw material prices will support the cost of natural rubber; Downstream tire production is rising, and tire companies are providing strong support for natural rubber demand; Tianjian inventory maintains a slow destocking trend. Overall, it is expected that the natural rubber spot market will remain strong at a high level in the short term.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

 Print  |    add to Favorites  |    Close