|
China Natural Rubber Mainstream Grade Market Price (unit: RMB/mt) |
||||
|
Date |
Shanghai SCRWF |
Shanghai SVR 3L mixed |
Shandong RSS 3 |
Yunnan SCR 10 |
|
Jun 21, 2024 |
14,350-14,400 |
14,750-14,850 |
18,250-18,450 |
14,000-14,000 |
|
Jun 24, 2024 |
14,250-14,350 |
14,700-14,800 |
18,200-18,400 |
13,850-13,950 |
|
Jun 25, 2024 |
14,500-14,550 |
14,900-15,000 |
18,400-18,600 |
13,900-14,100 |
|
Jun 26, 2024 |
14,350-14,450 |
14,800-14,900 |
18,350-18,600 |
13,800-13,800 |
|
Jun 27, 2024 |
14,500-14,550 |
14,950-15,000 |
18,450-18,750 |
13,800-14,000 |
|
Avg. last week |
14,445.00 |
14,920.00 |
18,465.00 |
14,080.00 |
|
Avg. this week |
14,425.00 |
14,865.00 |
18,445.00 |
13,920.00 |
|
Change rate |
-0.14% |
-0.37% |
-0.11% |
-1.14% |
|
Change |
-20.00 |
-55.00 |
-20.00 |
-160.00 |
|
Natural Rubber Import Market Price (unit: $/mt, RMB/mt) |
|||||||
|
Date |
STR 20 spot |
SMR 20 spot |
STR 20 mixed spot |
STR 20 cargo |
STR 20 mixed cargo |
SVR 3L mixed cargo |
STR 20 mixed |
|
Jun 20, 2024 |
1,740-1,755 |
1,735-1,750 |
1,765-1,775 |
1,750-1,790 |
1,770-1,790 |
1,780-1,810 |
14,500-14,600 |
|
Jun 21, 2024 |
1,730-1,740 |
1,725-1,735 |
1,750-1,760 |
1,740-1,770 |
1,760-1,780 |
1,760-1,780 |
14,400-14,450 |
|
Jun 24, 2024 |
1,730-1,740 |
1,725-1,735 |
1,750-1,760 |
1,730-1,780 |
1,750-1,780 |
1,760-1,770 |
14,400-14,450 |
|
Jun 25, 2024 |
1,755-1,765 |
1,750-1,760 |
1,790-1,795 |
1,770-1,800 |
1,780-1,800 |
1,790-1,800 |
14,700-14,750 |
|
Jun 26, 2024 |
1,740-1,750 |
1,735-1,745 |
1,770-1,780 |
1,760-1,780 |
1,760-1,780 |
1,790-1,800 |
14,600-14,650 |
|
Avg. last week |
1,751.00 |
1,746.00 |
1,764.50 |
1,782.00 |
1,781.00 |
1,817.50 |
14,460.00 |
|
Avg. this week |
1,744.50 |
1,739.50 |
1,769.50 |
1,767.00 |
1,775.00 |
1,784.00 |
14,550.00 |
|
Change rate |
-0.37% |
-0.37% |
+0.28% |
-0.84% |
-0.34% |
-1.84% |
+0.62% |
|
Change |
-6.50 |
-6.50 |
+5.00 |
-15.00 |
-6.00 |
-33.50 |
+90.00 |
Market Review
Prices of RMB-denominated natural rubber spot resources trended sideways this week. Within this week, the price of Shanghai natural rubber futures remained range-bound. The market price of RMB-denominated natural rubber spot resources also saw small-ranged movements. This week, the supply of dark-colored RMB-denominated mixed rubber was tight, strongly underpinning the price. However, the price of light-colored rubber changed slightly, in tandem with changes in futures price. Orders at downstream users stayed weak. The overall buying atmosphere was tepid, with limited dealings.
Market Forecast
Forecast: China’s natural rubber market may fluctuate weakly next week. In terms of supply, the output of new rubber may continue to level up in China’s and overseas countries. Shiploads arriving at ports are likely to advance in China. Therefore, the supply of natural rubber is expected to ratchet up. In terms of demand, due to high cost and inventory, downstream tire enterprises will possibly show weak interest in purchasing feedstock. Thus, both the supply and demand may hardly prop up the natural rubber price. However, at present, tight spot supply continues in China’s natural rubber market. The spot inventory of natural rubber remains in a downtrend, buttressing the price from the bottom. In the short run, the natural rubber price is possible to stay weak. It is estimated that the weekly average price of SCRWF in Shanghai may be RMB 14,150/mt, and its mainstream prices may be in the range of RMB 14,000-14,500/mt next week. Players should pay attention to the output release status of new field latex in overseas countries as well as the influence of related policies that the National Food and Strategic Reserves Administration acquires natural rubber for strategic reserve.
Supply: The output of new field latex may continue to gear up in China’s and overseas countries. Shiploads arriving at ports are expected to pick up. Meanwhile, it is heard that the quota for alternative plantations rises compared to last year, easing the status of slow release of output in producing areas.
Inventory: The current spot inventory levels down slowly, but the tight circulation of supply and constant drops in spot inventory may bolster the natural rubber price from the bottom.
