Raw material prices continue to rebound Short-term rubber prices remain strong

On the 11.
17th, the main closing price of NR was 9710 (+60) yuan / ton, Qingdao Free Trade Zone Thai standard rubber 1370 US dollars / ton (+2.
5), Malaysian standard rubber 1370 US dollars / ton (+2.
5).

Ingredients: raw film 44.
22 baht/kg (0), cup glue 38.
25 baht/kg (0), glue 44 baht/kg (0), tobacco film 47.
15 baht/kg (-0.
45).

As of 11.
11: Exchange total inventory 321864 (+4617), Exchange warehouse receipt 297570 (+860).

As of 11.
10, the domestic all-steel tire operating rate was 50.
99% (+10.
02%), and the domestic semi-steel tire operating rate was 58.
97% (+5.
08%)
.

Rubber prices remained strong, overseas raw material prices were mainly stable, and domestic raw material prices rebounded slightly, resulting in increased rubber price cost support
.
The downstream end market is still relatively sluggish, but the factory that was overhauled in the early stage has resumed work, and the operating rate of the downstream tire plant has recovered
.
Recently, the gradual decline of the people's baht to Thailand has led to the increase in the cost of rubber imported into Thailand, which has supported rubber prices
.
The continued strength of the RU01 contract price than the 05 contract also indicates that the logic of the position order is still taken, and the short-term price will continue to be strong
.
In the later period, due to the gradual increase in global supply and the slow recovery of demand, the upside
of rubber prices was limited.