Natural Rubber Daily: Trading Remains Subdued, Spot Weakness Persists(Oct 26)

Natural Rubber Daily: Trading Remains Subdued, Spot Weakness Persists

On October 26, the Qingdao market STR20 price index for natural rubber was 2,545 USD/ton, down 20 USD/ton from the previous trading day.

Supply Side

Overseas:

In northeastern Thailand, weather conditions improved, accelerating the pace of cup lump release. Dry rubber processors continued to compete for raw materials, while second-tier traders were reluctant to sell at low prices. In the south, rainfall disturbances intensified, affecting tapping operations, and latex plants showed limited willingness to purchase at premium prices.

Vietnam's producing areas remained in the seasonal peak production cycle. Recurring rainfall in the southern main producing region, with concentrated precipitation in Ca Mau and intermittent light rain in Tay Ninh and Binh Phuoc, constrained effective new latex output. Tight raw material supply pushed up local procurement costs.

Domestic:

In Yunnan, intermittent thunderstorms occurred during the week, with uneven rainfall across different areas. Overall, raw material volume was not affected, and prices showed a trend of first declining then stabilizing.

In Hainan, localized rainfall disturbed some areas, but the overall impact on raw material release was limited. Supported by orders and profit factors, local processing plants maintained a premium procurement stance for raw materials.

Demand Side

It is understood that some enterprises' operating rate increases were limited. Raw material prices fluctuated at high levels, while tire manufacturing enterprises faced limited high-cost exposure, and overall operating enthusiasm was mediocre. Certain medium-to-large enterprises maintained good operating conditions, but some product specifications were incomplete.

Futures and Spot Price Overview

Market Outlook

Futures prices fluctuated downward, and spot quotations followed the futures market with slight downward adjustments. Holders showed limited willingness to sell at low prices, with limited room for price concessions. Downstream inquiry enthusiasm was not high, with most buyers adopting a cautious procurement approach, selectively purchasing small quantities at low prices to meet rigid demand. Trading atmosphere in the market remained subdued, with few actual transactions concluded and no obvious signs of volume growth. The market is expected to maintain a weak consolidation pattern in the short term.

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