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Shanghai rubber has recently walked out of the volatile bottom grinding trend, and the price has a repair demand
.
The impact of the current overseas epidemic data on the market has not been as serious as in the previous period, and the bearish factors of rubber prices in the previous plunge have been exhausted, and the price has also shifted from sentiment-led to supply-demand-led
.
However, the current contradiction between supply and demand is still prominent, and the contradiction between supply and demand mainly stems from the fact that the overseas epidemic is still in the outbreak period, and demand has been seriously suppressed
.
The inflection point of the epidemic in many overseas countries has appeared, but the cumulative number of confirmed cases is still high, and most of the tire companies of car companies are still in a state of
shutdown.
The domestic epidemic has been controlled, but the domestic sales of tires are far from absorbing the original export share, and the export situation is still grim, and many tire companies have no new overseas orders in
May.
Although the supply side is affected by the weather, the actual production reduction is far from repairing the oversupply
caused by the shrinking demand side.
Although some overseas tire companies have started work one after another, it is still difficult to reverse the pattern
of oversupply in the short term.
However, market sentiment at home and abroad has warmed
up with the arrival of the inflection point of the epidemic in Europe and the United States.
The reduction of domestic full latex production this year is basically a foregone conclusion, and the price of raw materials in Thailand has risen for many days, which supports the price of tianjiao
.
Rubber prices began to rebound after a slight correction in the previous two days when crude oil fell to negative value, reflecting the relatively optimistic market sentiment
in China to a certain extent.
It is expected that before the demand side does not completely improve, rubber prices will maintain a wide range of bottom fluctuations, and the fluctuation range is expected to be between
9500 yuan and 10500 yuan.
