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The rubber RU2005 contract opened low and volatile on Tuesday, and futures closed lower
.
The current price closed at 10335, -0.
62% from the previous trading day; Volume 179009 lots, position volume 103944 lots, -5310, basis -235; RU5-9 spread - 275
.
NR2005 contract futures closed at 8645, -1.
31% from the previous session; The volume is 7372 lots, the position is 20511 lots, -127; the NR5-6 spread is -105
.
News: 1.
In January 2020, Malaysia's tianjiao production fell by 13%
year-on-year.
2.
China's automobile production and sales in February fell by nearly 80%
year-on-year.
3.
According to Longzhong information statistics, as of the week of March 13, the operating rate of domestic semi-steel tire manufacturers was 58.
11%, up 4.
77% month-on-month and down 7.
33% year-on-year; The operating rate of all-steel tire manufacturers was 59.
37%, up 2.
43% month-on-month and down 8.
43%
year-on-year.
Market quotation: Shanghai market 18 years state-owned full latex reported 10100 (-150) yuan / ton, Vietnam 3L reported 10400 (-100) yuan / ton, Thailand No.
3 tobacco film reported 12350 (-150) yuan / ton
.
Qingdao market STR20 stock spot reported 1270 (-20) US dollars / ton, Qingdao market STR20 March cargo reported 1270 (-25) US dollars / ton
.
Thai Hat Yai raw material market raw film 40.
95 (-0.
12) baht/kg; Tai San Tobacco Tablets 43.
2 (+0.
01) THB/kg; field glue 38 (+0) baht/kg; Cup gum 31.
4 (+0.
15) baht/kg
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber 1502 in North China Market price 9200(+0) yuan/ton; The market price of cis-butadiene rubber is 9100 (+0) yuan / ton
.
Summary: From the current fundamental point of view, the current crude oil price to reduce the cost of synthetic rubber, will still have a certain negative impact
on the price of natural rubber.
In addition, the continued spread of the epidemic overseas, and the high market share of tire exports to Europe and the United States has suppressed demand
.
In addition, due to the continuous increase in early arrivals, the inventory in Qingdao has continued to rise
recently.
Although the operating rate of domestic tire factories has rebounded significantly, enterprises in some regions are still limited by employment problems, and tires are still in the period of demand recovery, and the demand for natural rubber is limited
.
Considering that the world is currently entering a period of low production, low valuations support futures prices
.
Recently, the natural rubber market continues to be affected by the international crude oil market and volatility intensifies, and the short-term peripheral market is still unstable.
