Weekly Summary: Shanghai Natural Rubber Futures Fluctuated (Dec 11 – Dec 17)

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NR Weekly Average Price
SHFE RU2101(unit: /mt) INE NR2101(unit: RMB/mt) TOCOM RSS(unit: yen/kg)
Dec 4-Dec 10 14,579.00 10,535.00 242.20
Dec 11-Dec 17 14,552.00 10,501.00 239.66
Change -27.00 -34.00 -2.54
Change rate -0.19% -0.32% -1.05%

Natural Spot Market Price

China Mainstream Market NR Weekly Average Price(unit: RMB/mt)
Market Shanghai Shandong
Grade SVR 3L RSS 3 STR20 mixed SCR10
Dec 4-Dec 10 13,680 13,435 18,390 11,785 12,670
Dec 11-Dec 17 13,690 13,530 18,365 11,505 12,510
Change +10 +95 -25 -280 -160
Change rate +0.07% +0.71% -0.14% -2.38% -1.26%

2. Market Review

This week, SCI NR price index moved up. As of December 17, the index was 1,123.88 points, up 67.61 points or 6.4% from December 10. Natural rubber spot prices changes slightly, and the market fluctuated due to a lack of guiding news. The supply-demand conflicts weren’t severe and showed no great change. The overall transactions were only average.

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This week, Shanghai natural rubber futures fluctuated. Recently, the commodities had performed strongly, especially the energy and chemical products prices rose significantly. Hence, showed less attention to the . After the earlier big price rise, natural rubber market moved sideways.

As of December 17, the weekly average price of NR dominant futures contract at SHFE was RMB 14,552/mt, down RMB 27/mt or 0.19% from last week. The weekly average price of NR2101 was RMB 10,501/mt, down RMB 34/mt or 0.32% from last week.

3. Market Forecast

Next week, Shanghai natural rubber futures will fluctuate. Recently, the commodities markets have performed strongly, hence investors pay less attention to rubber market. From the perspective of fundamentals, there have been a shortage of shipping containers, and some shipments are delayed. The natural rubber decrease. As a result, the social inventory in Qingdao is decreasing, which supports the market. Besides, some downstream factories started to stock up in November, and some even purchased cargos to be delivered in February of 2021. In the , they will purchase feedstock properly. However, due to the air pollution abatement measures and electricity limitation policy, some tire companies reduce or even suspend production. The tire consumption is also in the slack season. All these suppress the magnitude of natural rubber price rebound. It’s predicted that the Shanghai natural rubber futures will fluctuate in the short term, and the price will be supported by the 60-day moving average.

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