Natural Rubber Daily: High-Level Tug-of-War(Oct 12)

Natural Rubber Daily: High-Level Tug-of-War

On October 12, the Qingdao market STR20 price index for natural rubber stood at USD 2,650/ton, down USD 20/ton from the previous trading day.

International Markets

Thailand: Some production areas experienced severe flooding, compounded by processing plants aggressively bidding for raw materials at high prices, lifting raw material costs.

Vietnam: Production areas maintained overcast and rainy conditions, with intermittent rainfall disrupting tapping progress. Overall output fluctuated with weather conditions, and expectations of periodic supply contraction supported firm raw material prices through the week.

Domestic Markets

Yunnan: Weather remained favorable, with output continuing to increase. Whole-milk factories had good orders, and raw material prices continued to rise.

Hainan: Weather conditions improved, tapping operations resumed, and new rubber supply showed seasonal volume growth. Supported by orders and profit factors, local processing plants maintained a price-raising stance for raw material procurement.

Downstream Operations

According to reports, some enterprises are gradually increasing operating rates, but with raw material prices remaining elevated, the tire industry currently shows limited enthusiasm for production. Meanwhile, a few large enterprises maintained normal operations to ensure order fulfillment and routine product supply.

Futures and Spot Price Overview

Market Summary

Natural rubber has a "ceiling above and a floor below." Peak-season supply is increasing, but Thailand continues to experience rainfall, and raw material prices are providing support. Downstream buyers resist high prices and are reluctant to stock up, while Qingdao warehouses are forced into an inventory accumulation trend. Overall, with costs supporting and demand dragging, the market is expected to maintain high-level wide-range fluctuation in the short term.

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