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Demand has not improved significantly, and rubber prices continue to fall

 Last Update: 2022-12-24
 Source: Internet
 Author: User

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On Thursday, the main force of rubber RU closed at 13270 (-130) yuan / ton, the mixed rubber quotation was 12800 yuan / ton (-50), and the basis of the main contract was -520 yuan / ton (+80); The top 20 main long positions 107009 (+7203), short positions 164848 (+8694), net short positions 57839 (+1491).

NR main closing price 11135 (-75) yuan / ton, Qingdao Free Trade Zone Thai standard rubber 1762.
5 (0) US dollars / ton, Malaysian standard rubber 1755 US dollars / ton (0), Indonesian standard rubber 1805 (0) US dollars / ton
.

rubber

As of April 15: total stock on the exchange 260978 (+2068), exchange warehouse receipt 248120 (+1500).

Raw materials: raw film 65.
88 (-2), cup glue 49.
65 (-0.
25), glue 63 (0), tobacco film 70.
49 (-0.
69).

As of April 14, the domestic all-steel tire operating rate was 56.
71% (+7.
28%), and the domestic semi-steel tire operating rate was 68.
38% (+1.
27%)
.

Viewpoint: Domestic demand recovery is limited, Qingdao port inventory continues to rise, but the recovery is declining, it is expected that port inventory will continue to recover slightly in the later period, mainly because domestic demand will take time to recover, especially the contradiction of high finished product inventory of tire factories has not eased
.
The absolute price is already below the cost of raw materials, supply and demand are weak, and the pattern of low valuation has not changed
.
Without significant improvement in demand, supply increases are expected or more concerned about short-term contingent pressures
.

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