Recently, rubber prices have been fluctuating due to upstream bullish sentiment and market sentiment. Although the upward amplitude has stopped compared to two weeks ago, the current stable volatility may continue for a longer time.
Recently, upstream raw materials and spot prices have been relatively stable. Yesterday, the price of raw material glue in Thailand increased by 0.1 Thai baht/kg, while the price of cup glue decreased by 1.1 Thai baht/kg. The prices of whole milk made from Yunnan glue and concentrated latex are both stable, while the prices of whole milk made from Hainan glue and concentrated latex are both stable, with no price difference between the two. The current high prices of spot goods in various regions have limited the willingness of downstream factories to purchase in the short term.
It is understood that the production capacity utilization rate of semi-steel tire enterprises continues to be high, and the production of snow tires is gradually entering the final stage. However, due to the main scheduling of foreign trade orders by enterprises, the production of snow tires is limited, resulting in limited overall output and insufficient supply.
The high and strong prices of upstream raw materials have strong support for the price of synthetic rubber, while the expected rebound in supply of cisplatin has suppressed the price of cisplatin. Under stable demand, the expected price range is mainly fluctuating.