Domestic demand has not improved and rubber continues to weaken

No.
7, NR main closing price 9245 (-125) yuan / ton, Qingdao Free Trade Zone Thai standard rubber 1350 (-10) US dollars / ton, Malaysian standard rubber 1340 US dollars / ton (-15), Indonesia standard rubber 1395 (-10) US dollars / ton
.

As of September 2: total stock on the exchange 288790 (+1908), exchange warehouse receipt 262270 (+810).

Raw materials: raw film 45.
30 (-0.
15), cup glue 39.
65 (0), glue 45.
5 (0), tobacco film 47 (-0.
1).

As of September 1, the domestic all-steel tire operating rate was 58.
05% (-0.
58%), and the domestic semi-steel tire operating rate was 62.
41% (+0.
75%)
.

Rubber prices continue to weaken, domestic demand has not improved and overseas demand has fallen at a high level are the main suppressive factors coupled with the recent disturbance of the domestic epidemic, the production of some domestic tire factories has been affected, and the willingness to purchase raw materials has declined
.
In this context, the pressure on the inventory of finished products of domestic tire factories has increased
.
The supply side is expected to increase, but recently because of the rainfall in Thailand is still more, the raw material output rate or increase after the rain, now more due to the drag of demand, Thai raw material prices, especially cup rubber prices fell rapidly, yesterday raw material prices fell slowly, but the expectation of increased supply or make the later raw material price decline trend will continue, rubber cost support continues to move
down.
Under the overseas interest rate hike, demand will continue to decline, and the later focus will be on the recovery of domestic demand, and rubber prices are expected to continue to be weak until
domestic demand does not improve.