Guoxin Futures: Upstream raw material support keeps rubber prices stable with a slight upward trend

Wednesday’s Shanghai rubber continued to rise. In terms of spot market, data from Zhuochuang Information shows that today’s natural rubber prices generally increased. The main transaction prices for 24-year SCRWF in Shanghai are between 17,150 and 17,250 yuan/ton, up 300 yuan/ton from the previous trading day. The mainstream transaction prices for Vietnam 3L blended rubber are around 17,300 to 17,350 yuan/ton, up 200 yuan/ton from the previous day. Currently, overseas production areas are entering a low-yield phase. During the Spring Festival, Thai cup rubber prices remained strong, rising 1.8 baht/kg to 57.5 baht/kg, and rubber cement prices increased 3.7 baht/kg to 66 baht/kg, providing strong cost support for rubber prices at the bottom. After the holiday, downstream companies gradually resumed work and production, and overall market trading sentiment is gradually improving. Data from Zhuochuang Information shows that natural rubber inventory in Qingdao increased by 62,800 tons to 672,100 tons compared to before the holiday. However, with downstream companies resuming work after the holiday, their procurement enthusiasm has increased, so overall inventory may remain relatively stable. In the short term, rubber prices are expected to remain volatile with a slight upward trend. (Guoxin Futures)