echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Market supply and demand pressure has increased, and the rebound of Shanghai rubber is difficult to continue

    Market supply and demand pressure has increased, and the rebound of Shanghai rubber is difficult to continue

    • Last Update: 2022-12-05
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    On Wednesday, Shanghai rubber maintained positive low volatility and closed slightly lower
    .
    Among them, the main contract RU1709 had a low price of 15035 yuan / ton, the highest price was 15285 yuan / ton, closing down 90 yuan / ton to close at 15095 yuan / ton (-0.
    59%); The 1705 and 1801 contracts closed at 14,570 yuan/mt (-0.
    72%) and 17,060 yuan/mt (+0.
    03%)
    respectively.
    Today's Tokyo Rubber Market is closed, there is no price reference
    .

    Shanghai rubber

    Today's Shanghai rubber weak shock, Qingdao bonded zone US dollar rubber market quotation is rare, merchant offer is less active, transaction negotiations are subject to counter-offer, the free trade zone quotation overall remains stable: Thailand RSS3 quotation 1900 US dollars / ton, Malaysia SMR20# quotation 1600 US dollars / ton, Indonesia SIR20# quotation 1575 US dollars / ton, Vietnam SVR3L no quotation, Thailand STR20# quotation 1600 US dollars / ton
    。 Shanghai rubber weak shock, spot RMB market price slightly down 100-200 yuan / ton, real order transaction negotiation-based, today's mainstream quotation in Shanghai: Thailand RSS3 quotation 15150 yuan / ton, Hainan full latex quotation 14150 yuan / ton, Vietnam SVR3L quotation 14550 yuan / ton
    .
    The purchase price of raw materials in Thailand was narrow, with raw film 71.
    28, up 0.
    19; cigarette film 75.
    11, down 0.
    38; glue 64.
    00, flat; cup glue 50.
    00, flat (baht/kg).

    The data shows that the top 20 members of the main rubber contract RU1709 traded a total of 275605 lots on Wednesday, a decrease of 968 lots (-0.
    35%) from the previous trading day; The top 20 members of the contract held a total of 75,960 buy orders, an increase of 2,205 lots (+2.
    99%) over the previous trading day; The top 20 members of the contract held a total of 101789 sell orders, an increase of 1,842 lots (+1.
    84%) over the previous trading day; The number of warehouse receipts in the previous period was 306200 tons, an increase of 3190 tons
    over the previous trading day.

    Today's Shanghai rubber weak volatility, long and short sides holding orders are similar, due to the lack of substantial bullish support, the rebound is difficult to continue
    .
    The spot market transaction has not improved significantly, and as of early May, the inventory of Qingdao Free Trade Zone continued to rise to 249,800 tons, an increase of 29,700 tons from mid-April, and the inventory of the free trade zone continued to expand, the current storage capacity of the free trade zone is relatively tight, while the inventory outside the zone continues to grow, and the overall spot supply is sufficient
    .
    In addition, the sales of heavy-duty trucks in April fell by 10% month-on-month, indicating a slight weakness in downstream consumption, and the inventory digestion process of downstream enterprises slowed down
    .
    In addition, the delivery of May contracts is imminent, and the pressure of real delivery has brought hidden worries
    to the rebound space in the future market.
    Therefore, the possibility of Shanghai rubber continuing to rise in the short term is small, it is expected that short-term Shanghai rubber will still be mainly range-bound, it is recommended to trade in the range of 14000-15500, sell high and absorb low, and control the position
    .

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.