China Qingdao Natural Rubber Market Consolidates at High Levels
On September 1, the natural rubber market in Qingdao experienced a consolidation of prices at high levels. This was influenced by the Shanghai rubber futures, which fluctuated at the high end of their range. As a result, spot market quotes saw minor adjustments.
Mainstream quotes for 2024-production Yunbao/Guangkeng/Haibao rubber were between 18,000–18,200 RMB/tonne, while 2025-production of the same rubber types was quoted at 18,100–18,300 RMB/tonne. Vietnamese 3L rubber was quoted at 18,800–18,950 RMB/tonne.
In the futures market, the benchmark natural rubber contract (2701) on the Shanghai Futures Exchange closed at 18,965 RMB/tonne on August 31, marking an increase of 65 RMB/tonne from the previous trading day. The market exhibited a high-level fluctuating trend with a bullish bias, providing favorable support for futures prices.
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