< img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=2433975083660159&ev=PageView&noscript=1" />

[Natural Rubber]: Monthly Rubber Review (June 2023)

112,215
July 6, 2023, 4:58 PM

dry rubber

In June, China's natural rubber spot market generally showed a trend of rising first and then falling, with prices adjusted slightly at the beginning and end of the month. During the month, as the supply side gradually entered the stage of increasing volume, China's natural rubber stocks remained high, and inventory pressure still existed. The shipping pressure of downstream tire companies remained unchanged. Finished product stocks were abundant. The enthusiasm for replenishing raw materials was average, and it was difficult for fundamentals to provide obvious drivers. Rubber prices fluctuated mainly due to news and macro factors. In June, rubber prices generally showed a trend of repeated fluctuations and adjustments.

natural latex

In June, China's natural latex market prices rose within a narrow range. This month, there was not much spot arrival in Hong Kong from China's sales areas, and the available spot was tight. In addition, the RMB depreciated against the US dollar during the month, traders 'import costs rose, and there was little enthusiasm for replenishing goods. There was a strong sentiment of supporting prices and reluctance to sell on the market, which supported market offers. Orders for finished products from downstream latex products companies have been sluggish, entering the off-season of demand ahead of previous years, and the high temperature in summer has further suppressed production. In addition, domestic and overseas production areas are expected to have a strong supply of raw materials in the next month, making their bearish sentiment difficult to ease. There is no significant improvement in demand ports in the short term, and there is limited room for growth in suppressed concentrated milk.

Market outlook forecast:

In January and July, global natural rubber production areas continued to increase, and the increase in raw material supply is expected to strengthen;

In February and July, tire capacity utilization rate data, downstream tire companies started to weaken, and downstream demand for concentrated milk was weak;

In March and July, whether Qingdao's inventory will break through the accumulated state will show an inflection point for destocking.

4. Pay attention to China's macro policies and news trends.

Table 1 International market

products

June 2023

May 2023

from the previous month

June 2022

compared with last year

remarks

dry rubber

Taibiao

1379.83

1418.23

-2.71%

1719.50

-19.75%

cif USD/ton

Taihun

1379.83

1418.23

-2.71%

1719.50

-19.75%

cif USD/ton

RSS3

1614.33

1623.23

-0.55%

2173.17

-25.72%

cif USD/ton

natural latex

Thai Barrel

1140.00

1167.42

-2.35%

1535.33

-25.75%

cif USD/ton

Thailand Bulk

1020.00

1047.42

-2.62%

1401.00

-27.19%

cif USD/ton

Vietnam

911.33

947.68

-3.84%

1258.50

-27.59%

cif USD/ton

 

Table 2 Chinese market

products

market

varieties

May 2023

May 2023

from the previous month

June 2022

compared with last year

remarks

dry rubber

Shandong market

Thai mixed (spot)

10652.58

10642.26

0.10%

12701.67

-16.13%

Yuan/ton

Thai mixed (cargo)

10702.58

10681.94

0.19%

12766.67

-16.17%

Yuan/ton

Taibiao

1375.81

1373.87

0.14%

1703.50

-19.24%

us dollars/ton

Taihun

1328.39

1359.35

-2.28%

1677.67

-20.82%

us dollars/ton

RSS3

1569.68

1548.39

1.38%

2061.67

-23.86%

us dollars/ton

full latex

10493.82

11661.29

-10.01%

12851.67

-18.35%

Yuan/ton

3L

11537.10

11436.67

0.88%

12911.67

-10.65%

Yuan/ton

natural latex

Ningbo market

Taihuatong

10311.67

10283.87

0.27%

--

--

Yuan/ton

Thai yellow bag

9251.61

9082.26

1.86%

12170.00

-23.98%

Yuan/ton

Thai non-yellow package

9159.68

8975.81

2.05%

13333.33

-31.30%

Yuan/ton

domestic

8464.52

8366.13

1.18%

12294.44

-31.15%

Yuan/ton

Vietnam

8471.67

8469.35

0.03%

11480.95

-26.21%

Yuan/ton