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Benefiting from the support of the sharp rise of domestic black commodity futures again, as well as the lack of rainfall in rubber-producing countries to delay rubber tapping, the weakening of supply expectations drove domestic Shanghai rubber futures to continue to show a rebound momentum today, and the main 1609 contract price of Shanghai rubber rose steadily and broke through the previous high, creating a new high
in this round of rebound.
Although the price adjusted in the late afternoon, the overall downward space was relatively limited, and the futures price showed a rapid upward trend at the end of the day and reached the first line of 13295 yuan / ton, and the Shanghai rubber 1609 contract closed sharply up 3.
91% or 495 yuan / ton
as of the close.
Overnight market: Crude futures surged to a five-month high on Wednesday as U.
S.
distillate inventories unexpectedly contracted sharply, leaving traders on hold of increased oversupply in the oil market and the end of
strikes by Kuwaiti oil workers.
The NYMEX June crude futures contract rose 4% to $
44.
18 a barrel.
Overnight, the Shanghai rubber 1609 contract rose 1.
12% to close at 13,090 yuan / ton
.
News side: 1.
The strong earthquake in Japan caused the shutdown of the Bridgestone plant
.
2.
Yokohama Rubber Co.
, Ltd.
acquires tires
for agricultural and construction machinery.
Spot market: the 14-year quotation of state-owned whole milk in the Shanghai market is about 12200-12350 (+150/+300) yuan / ton; Vietnam's 3L quotation is 12900-13000 (0/0) yuan/ton; Thailand No.
3 tobacco tablets 12850-12900 (0/0) yuan/ton; RMB mixed rubber 11400-11450 yuan / ton
.
Thai Hat Yai raw material market raw film 56.
05 (+2.
2) baht/kg; Tai San tobacco tablets 59.
15 (+1.
33) baht/kg; field glue 57.
5 (+0.
5) baht/kg; Cup glue 47 (+1) baht/kg
.
Synthetic rubber: East China Qilu petrochemical styrene-butadiene rubber 1502 market price 12800 yuan / ton (-100), cis-butadiene rubber market price 11800 yuan / ton (0).
Warehouse receipt inventory: Exchange warehouse receipts were reported at 260,070 tons, a decrease of 30 tons
.
Thailand's government procurement of tobacco tablets and Indonesia's storage and storage pushed up overseas raw material prices, while Qingdao Free Trade Zone inventory is still declining, and the operating rate of downstream tire factories has continued to rise, but with the rise in raw material prices, tire factory profits are compressed, and the market needs to pay attention to the operating rate
.
In addition, the domestic rubber production areas have been cut one after another, and the Yunnan production area has ushered in a full cut, and the supply and demand of raw materials are tight or alleviated
.
Overnight, the Shanghai rubber 1609 contract opened high, and the risk of pullback caused by the short-term surge increased, and it is recommended to trade
within the 13300-12700 range.
