crashmetalcyberpunk| The natural rubber market fluctuated downward: the spot rubber market fell 2.16% in April, and the market outlook may be shaken and consolidated

editor editor
58
2024-05-02
Newsletter summary The price of natural rubber fell 2 in AprilCrashmetalcyberpunk.16%, the output of raw material produc...

Newsletter summary

The price of natural rubber fell 2 in AprilCrashmetalcyberpunk.16%, the output of raw material producing areas in Thailand is low, and the drought in Yunnan and Hainan producing areas in China leads to bad tapping. Downstream tire enterprises start smoothly, but are cautious about purchasing raw materials. It is expected that the market will fluctuate in the near future.

crashmetalcyberpunk| The natural rubber market fluctuated downward: the spot rubber market fell 2.16% in April, and the market outlook may be shaken and consolidated

Text of news flash

[natural rubber prices fell 2.16% in April. Thailand's raw material production is low.] in April 2024, the domestic natural rubber market experienced a volatile downward trend. According to market analysis system data, the spot rubber market on April 30 was about 13560 yuan / ton, down 2.16% from 13860 yuan / ton at the beginning of the month. Shanghai Jiao 05 contract first experienced a rise in April, rising from about 14550 yuan / ton to 14850 yuan / ton, and then fluctuated down to about 13750 yuan / ton. At present, the price of Thai imported latex barrel is about 13600-13700 yuan / ton, and that of bulk is about 11800-11900 yuan / ton; the price of Vietnamese imported latex in bulk is about 10900-11100 yuan / ton; the price of domestic latex in bulk is about 9800-10600 yuan / ton. On the cost side, due to the low output of raw materials in Thailand, the glue price is about 73 baht / kg, showing a fluctuating trend. The opening time of Vietnam is delayed, while the tapping of Yunnan and Hainan is not smooth due to drought, harvesting has been suspended in many areas, the supply of raw materials is relatively tight, and market prices rise. On the demand side, the start-up of downstream tire enterprises is basically stable, dominated by rigid demand procurement. As of April 30, the starting load of semi-steel tire in domestic tire enterprises is about 80%, while that of all-steel tire in Shandong area is about 70%. At present, the tire market inventory is relatively sufficient, the shipping situation is general, tire enterprises are cautious about the procurement of raw materials, mainly rigid demand. As of April 28, 2024, the bonded and general trade inventory of Tianjiao in Qingdao area totaled 586100 tons, a decrease of 23000 tons, or 3.77%, compared with the previous week. Of this total, the inventory in the bonded area was 76500 tons, a decrease of 7.68%, and that of general trade was 509600 tons, a decrease of 3.16%. Due to the overseas low-production cut-off period, the amount of natural rubber coming to the port has decreased, and the port is currently in a state of destocking. For the future, it is expected that the supply side of Thailand, Vietnam raw material output is limited, domestic production area output is also limited, raw material prices remain high. On the demand side, downstream tire factory shipments are general, pre-holiday stock is basically over, tire enterprises procurement mentality is cautious. In view of the continuous reduction of natural rubber port inventory, it is expected that the natural rubber spot market will be mainly shock finishing in the near future.

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