Natural Rubber Market Price Update June 11

Analysis of natural rubber market prices on June 11

Index

On June 11, the STR20 price index of natural rubber in Qingdao market was 1715 USD/ton, which was stable compared with the previous trading day.

Market analysis

Futures market

Spot market

Supply:

Foreign: Thailand has more rain, and the output of new rubber has not increased significantly. Northeast Thailand is basically close to full-scale tapping, and southern Thailand is 50-60% operational. Vietnam's production areas are basically fully tapped, gradually transitioning to the seasonal increment stage.

Domestic: Continuous rainfall in Yunnan production areas has affected rubber tapping operations, and raw material price quotations are relatively low; Hainan production areas have increased precipitation weather, and rubber tapping work has been significantly hindered.

The output of raw materials on the island has decreased month-on-month. Affected by Typhoon "Butterfly", the supply of fresh rubber will become tight. Under the rigid delivery demand, some processing plants are eager to harvest rubber.

Demand: It is understood that most of the semi-steel tire companies are running smoothly at present. Some of them are controlling inventory growth.

The overall operation level in the month is lower than that in the previous period, and the shipment performance has not improved significantly.

Some companies have promotional policies to support them, and the purchase task volume is bundled, which drives the shipment volume to a certain extent. The overall drive is limited. The inventory of enterprises is relatively sufficient. In order to relieve the pressure, some enterprises may have maintenance expectations in the middle of the month.

List of futures and spot prices

Forecast for the future market

The closing price of the main rubber contract today has adjusted narrowly, and the fundamental changes are relatively small.

Although the production areas at home and abroad are facing rainy rubber tapping, the production areas have not yet concentrated on the volume, and short-term cost support still exists. 

On the demand side, the overall order performance of tire companies is general, shipments are slow, and the pace of finished product destocking is slow. The fundamentals remain weak, and the rubber price is still expected to decline.

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