According to the Commodity Market Analysis System of Shengyi Society, the domestic natural rubber spot market has been weak and slightly declining recently (9.17-9.23). As of September 23, the spot rubber market price in China’s natural rubber market was around 14883 yuan/ton, a decrease of 1.38% from 15091 yuan/ton on September 17. On the one hand, the high prices of natural rubber raw materials have fallen, which has weakened the support for the natural rubber market; On the other hand, downstream suppliers restock according to their immediate needs before the holiday, but they are cautious about inquiries from high priced sources, resulting in significant market resistance and a slight decline in natural rubber prices. As of September 23, the mainstream price for 24 years of Guangken, Baodao, and Haibao latex in Qingdao area is 14800~15050 yuan/ton.
As of September 23, the price of Thai glue was 55.30 baht/kg, a decrease of 1.60% from 56.20 baht/kg on September 17. In the early stage, the production of natural rubber raw materials in the market decreased due to natural factors. In September, with the improvement of weather conditions, the supply of raw materials has recovered, and the high level of natural rubber raw materials has slightly fallen, which has slightly weakened the support for the natural rubber market.
Recently (9.17-9.23), downstream tire production has slightly increased, providing essential support for the natural rubber market. As of September 18th, the construction of semi steel tires by domestic tire companies has slightly increased to around 7.5%; The production of all steel tires by tire companies in Shandong Province has slightly decreased to around 6.5%.
Market forecast: The current high and firm prices of raw materials both domestically and internationally, as well as stable downstream tire production and consolidation, provide support for the Tianjin rubber market. The Tianjin rubber port inventory has slightly decreased, and with the arrival of the peak season, it is expected that the natural rubber market will fluctuate and rise in the later period.
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