Tire production difficult to improve, rubber price weak and fluctuating

10 September 2021 | Source from China Rubber Web

Yesterday, NR futures price fell sharply again, RU2201 rose 405 to 13,315 yuan/ton, NR dominant contract fell 365 yuan to 10410 yuan/ton. The mainstream price of the spot market fell by 100-250 yuan/ton following the futures, but the improvement in downstream terminal demand was limited, and the rigid demand for purchasing was mainly maintained.

In August 2021, China's total production of all-steel tires was 11.0625 million, a year-on-year decrease of 11.54%. From January to August 2021, China's cumulative production of all-steel tires was 89,454,800, a year-on-year increase of 15.9%. In August 2021, China's total production of semi-steel tires was 40.77 million, a year-on-year decrease of 6.29%. From January to August 2021, China's cumulative production of semi-steel tires was 328,324,100, a year-on-year increase of 22.07%. In the short term, the supply-side Southeast Asia epidemic is cooling down, and the problems of demand-side tire factory inventory pressure and insufficient market demand are difficult to alleviate in the short term. Tire production is difficult to improve, and the trend of low-level weakness is difficult to change.

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