On November 4th, the natural rubber market in Qingdao was running weakly. Downstream on-demand inquiries, high raw material prices consolidation, weak and volatile futures market, spot merchants offering discounts ranging from 50 to 150 RMB/ton, and the mainstream price of 24 year Yunbao is 14,450-14,750 RMB/ton. The mainstream price for 3L in Vietnam is 14,950-15,200 RMB/ton.

Reason: The article shows that the spot price of natural rubber in Qingdao has been lowered by 50-150 RMB/ton (mainstream price is 14,450-14,750 RMB/ton), indicating that the spot market has sufficient supply but weak demand (downstream only makes inquiries on demand), and the high prices of raw materials have been consolidated but not driven up, resulting in pressure on spot prices. In terms of futures, based on the data from November 3rd (such as the closing price of the main contract 2609 at 15,240 RMB/ton, down 165 RMB), the market shows a weak and volatile pattern, and changes in holdings indicate cautious sentiment (such as an increase of 31 in holdings of contract 2607), further strengthening downward expectations. The overall market is bearish, but the downward adjustment is limited and has not reached a significant bearish level.

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