1. Natural Rubber RMB Market Review
Table 1 Natural Rubber RMB Price
Unit: RMB/mt
|
Type |
Region |
Market price |
Change |
Remarks |
|
SCRWF (Yunnan) |
Shandong (North China) |
8,900-9,000 |
-50 |
– |
|
Zhejiang (East China) |
9,100-9,200 |
-400 |
– |
|
|
Shanghai (East China) |
8,900-9,000 |
-100 |
– |
|
|
Tianjin (North China) |
9,000 |
0 |
– |
|
|
Yunnan (Southwest China) |
9,000-9,200 |
-150 |
– |
|
|
SCRWF (Hainan) |
Jiangsu (East China) |
9,200 |
-100 |
– |
|
SCR10 |
Yunnan (Southwest China) |
8,600-8,800 |
0 |
– |
|
Shanghai (East China) |
– |
– |
– |
|
|
Thai RSS3 |
Shanghai (East China) |
10,500 |
0 |
– |
|
Shandong (North China) |
9,900 |
-150 |
– |
|
|
STR20 composite |
Qingdao Bonded Zone |
9,000 |
-50 |
with 18% VAT included |
|
SMR20 composite |
Qingdao Bonded Zone |
9,000 |
-50 |
with 18% VAT included |
|
SVR3L |
Hengshui (North China) |
9,200 |
-50 |
with 18% VAT included |
|
Shanghai (East China) |
8,800 |
-200 |
with 18% VAT included |
|
|
Shandong (North China) |
8,800-8,900 |
0 |
no tax |
|
|
Zhejiang (East China) |
9,000-9,100 |
-100 |
with 18% VAT included |
|
|
Guangdong (South China) |
9,400-9,500 |
-150 |
no tax |
|
|
Mong Cai market |
– |
– |
– |
Table 2 Natural Rubber USD Price
Unit: $/mt
|
Market |
Country |
Product |
Market price |
Change |
|
International market |
Thailand |
RSS3 |
1,250-1,270 |
0 |
|
STR20 |
1,230-1,250 |
0 |
||
|
STR20 composite |
1,220-1,250 |
-15 |
||
|
Malaysia |
SMR20 |
1,220-1,230 |
0 |
|
|
SMR20 composite |
1,200 |
-20 |
||
|
Indonesia |
SIR20 |
1,190-1,200 |
0 |
|
|
SIR20 composite |
1,200 |
-15 |
||
|
Vietnam |
SVR3L |
1,150 |
0 |
|
|
SVR10 |
1,120 |
0 |
||
|
Qingdao Free Trade Zone |
Thailand |
RSS3 |
1,190 |
-35 |
|
STR20 |
1,130 |
-35 |
||
|
STR20 composite |
1,160-1,170 |
-10 |
||
|
Malaysia |
SMR20 |
1,120-1,130 |
-10 |
|
|
SMR20 composite |
1,160-1,170 |
-10 |
||
|
Indonesia |
SIR20 |
1,110 |
-10 |
Remarks: Mainstream RMB offers for STR20 composite were RMB 9,000/mt. SVR3L composite was quoted at RMB 9,000/mt.
2. Natural Rubber Spot Market Analysis
Natural rubber (NR) futures market on the SHFE rebounded slightly, but the spot negotiation prices edged lower by RMB 50-150/mt. The USD offers fell $15-20/mt, and those slipped $10-35/mt in Qingdao Bonded Zone.
3. Downstream Market Analysis
The production of all-steel tires changed little, although unstable production was heard in some enterprises with difficulties in capital turnover. This caused a supply shortage of some grades. Most Chinese tire enterprises faced capital pressure as it was the time to pay back to the banks. No new sales policy was heard.
4. Natural Rubber Spot Market Forecast
More than 40kt old NR flowed into the market from the futures cargoes, which added pressure to the spot market. Coupled with decreasing feedstock prices and a high inventory level in Qingdao Bonded Zone, it was unlikely for the market to rebound, let alone the sluggish demand.
