SunSirs: China Qingdao Natural Rubber Market Analysis for June 26

On June 26, the natural rubber market in Qingdao trended downward amidst weak conditions. Shanghai rubber futures fluctuated lower; downstream inquiries were sparse, and traders lowered their offer prices. Mainstream quotes for 2024-production Yunbao, Guangken, and Haibao rubber ranged from 16,500 to 16,700 RMB/tonne; 2025-production stock was quoted at 16,000–16,900 RMB/tonne; and Vietnamese 3L rubber was quoted at 17,600–17,800 RMB/tonne.

Regarding the spot market, prices declined on June 26 due to sluggish downstream demand and lowered trader quotes. Prices for both domestic rubber and Vietnamese 3L rubber retreated, and spot market trading activity remained subdued. On the futures front, the SHFE natural rubber benchmark contract (2609) closed at 16,685 RMB/tonne on June 25, down 650 RMB/tonne from the previous trading day. The downward fluctuation in futures prices further dampened sentiment in the spot market, exerting a moderately bearish influence on natural rubber prices.