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Guoxin Futures: Typhoon weather impacts, rubber prices see slight volatile rebound

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On Monday, rubber prices continued to fluctuate and rebound, with the main contract RU2609 closing at 16,910 yuan/tonne, up 200 yuan/tonne from the previous trading day, a gain of 1.2%, and open interest increased by 548 lots. On the spot side, data from Sublime China Information showed that natural rubber market prices rose today. In the Shanghai market, the indicative transaction price for mainstream SCRWF 2024 was 17,150-17,200 yuan/tonne, up 200 yuan/tonne from the previous trading day; the indicative transaction price for mainstream Vietnam 3L blended rubber was 17,900-17,950 yuan/tonne, up 175 yuan/tonne from the previous trading day. Typhoon Maysak made landfall on the southern coast of Hainan Island, leading to frequent rainfall in domestic production areas recently, hindering tapping operations, and raw material procurement prices temporarily stopped falling; overseas main production areas were less affected by the typhoon. Due to poor expectations for new orders from downstream tire companies, coupled with rising finished product inventories, especially the operational pressure in the semi-steel tire market, some tire companies have successively suspended production for maintenance since early July. Demand side performance is weak, and rubber prices lack effective support. Technically, rubber prices are expected to maintain a volatile range in the short term, with attention on resistance levels above. (Guoxin Futures)
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