SunSirs: China Domestic Natural Rubber Market has seen a Significant Price Increase

https://www.chemnet.com   Sep 19,2024 SunSirs

According to the Commodity Market Analysis System of SunSirs, the domestic natural rubber spot market has risen significantly in recent days (9.9-9.18). As of September 18th, the spot rubber market in China's natural rubber market was around 16,237 RMB/ton, up 6.60% from 15,232 RMB/ton on September 9th. On the one hand, the prices of raw materials have significantly increased during the cycle; On the other hand, domestic Tianjian inventory continues to decline; In addition, the stable operation of downstream tires has provided strong support for the demand of natural rubber, and the price of natural rubber has risen significantly due to cost support and supply and demand support.

Recently, the poor weather in domestic and international production areas has led to a certain degree of obstruction in the supply of natural rubber raw materials, resulting in a significant increase in the price of natural rubber raw materials. As of September 18th, the price of Thai glue is 72.50 baht/kg, which is higher than the price of 69.50 baht/kg on September 9th; As of September 18th, the purchase price of state-owned and gold rubber water-based concentrated latex raw materials in Hainan production area was around 16,800 RMB/ton, slightly higher than the price of 14,100 RMB/ton on September 9th.

Natural rubber inventory maintains a slow destocking trend. As of September 15, 2024, the total inventory of Tianjiao bonded and general trade in Qingdao area was 430,100 tons, a decrease of 2.74% compared to the previous period.

With the support of domestic policies to promote automobile consumption, the downstream tire industry has maintained stable production, facing the urgent demand support of the natural rubber market. As of September 13th, 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 59%.

Currently, domestic and international raw material supply prices are high; Under the policy of promoting consumption, all tire enterprises are operating steadily, which provides 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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