SunSirs: China Natural Rubber Market Price is Consolidated

According to the Commodity Market Analysis System of SunSirs, the domestic natural rubber spot market has recently been sorted out from November 11th to November 11th. As of November 11th, the spot rubber market in China's natural rubber market is around 17,184 RMB/ton, up 1.95% from 16,855 RMB/ton on November 1st, with a low point of 16,764 RMB/ton during the cycle. Recently, the price range of raw materials has fluctuated; Domestic Tianjian inventory continues to increase slightly; Downstream tire factories tend to stock up on demand to support the demand for natural rubber, but they have some resistance to high priced sources, and the natural rubber market is consolidating in the high range.

With the arrival of the peak season for the opening and cutting of natural rubber in the fourth quarter, there is upward resistance in the price of raw rubber; The prices of natural rubber raw materials both domestically and internationally are still fluctuating within a certain range. As of November 11th, the price of Thai glue is 73.17 Thai baht per kilogram; As of November 11th, the purchase price of state-owned and gold rubber water-based concentrated latex raw materials in Hainan production area is around 17600 RMB/ton.

Natural rubber inventory maintains a slow destocking trend. As of November 3, 2024, the total inventory of Tianjiao bonded and general trade in Qingdao area was 413,000 tons, an increase of 5,000 tons compared to the previous period.

Downstream tire production is undergoing narrow consolidation, with demand mainly supported by the natural rubber market's essential needs. As of November 7th, 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 60%.

Market forecast: The current range of raw material supply prices both domestically and internationally is fluctuating; The tire market supports the demand for natural rubber, but is resistant to high priced sources of goods; The inventory of Tianjian has slightly increased; Overall, it is expected that the natural rubber market will mainly fluctuate in the weak range in the short term.

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