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It is difficult to reverse the pattern of rubber supply and demand, and it is recommended to wait and see for the time being

 Last Update: 2022-12-25
 Source: Internet
 Author: User

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On Thursday, the main force of rubber RU closed at 12730 (-50) yuan / ton, the mixed rubber quotation was 12350 yuan / ton (0), and the basis of the main contract was -405 yuan / ton (0); The top 20 main long positions 105345 (-2034), short positions 159627 (-1364), net short positions 54282 (+670).

NR main closing price 10790 (-30) yuan / ton, Qingdao Free Trade Zone Thai standard rubber 1615 (-10) US dollars / ton, Malaysian standard rubber 1610 US dollars / ton (-10), Indonesia standard rubber 1665 (-10) US dollars / ton
.

rubber

As of May 6: Exchange Total Inventory 263566 (-19), Exchange Warehouse Receipt 254440 (+1450).

Raw materials: raw film 63.
42 (+1.
02), cup glue 46.
4 (+0.
15), glue 66.
5 (+0.
5), tobacco film 67.
78 (-0.
21).

As of May 5, the domestic all-steel tire operating rate was 40.
18% (-14.
81%), and the domestic semi-steel tire operating rate was 40.
64% (-25.
13%)
.

Opinion: The recent changes are mainly due to the month-on-month improvement in demand expectations after the release of pessimism about the domestic epidemic, and the improvement in demand brought about by the comparative advantage of the spot end full latex price, which is conducive to the further dematerialization
of whole milk stocks in the later period.
With the gradual easing of shipping schedules, domestic arrivals tend to stabilize, but overseas is in the early stage of cutting, and if domestic demand further improves in the later stage, port inventories are expected to maintain a small destocking pattern
.
At present, because the contradiction of high finished product inventory of downstream tire factories has not been resolved, it is difficult to reverse the supply and demand pattern, and it is recommended to wait and see for the time being
.

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