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Rubber closed up strongly, and the rebound space is expected to be limited

 Last Update: 2022-12-16
 Source: Internet
 Author: User

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subsidies

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Market situation: rubber closed strongly, RU2001 increased its position, and the futures price closed higher
.
The day closed at 12110, +2.
54% from the previous session; Volume 569164, position 372176, +6018, basis -1060, +175, Ru1-May spread -195
.
NR2002 closed at 10395, +3.
23% from the previous trading day; Volume 19446, position 26182, +1686, basis -751, -122, NR2-5 spread -205
.

rubber

News: 1.
The Thai government plans to provide 850 million US dollars in subsidies to rubber farmers to increase their income2.
According to Longzhong Information, the construction of semi-steel tires started 63.
52% last week, up 0.
49% month-on-month and 9.
52% year-on-year; All steel tires started 65.
89% last week, up 1.
66% month-on-month and 13.
39%
year-on-year.
3.
50 tire and rubber enterprises applied for cancellation
in August.

Market quotation: the quotation of 17-year state-owned whole milk (Yunxiang) in the Shanghai market is 11050 (+350) yuan / ton; Vietnam 3L quotation 11450 (+350) yuan / ton; Thailand No.
3 tobacco tablets 13750 (+400) yuan/ton; Yunnan 18 years full latex 10850 (+250) yuan / ton
.
The purchase price of natural rubber fresh glue and dry rubber of Hainan State-owned Rubber Processing Plant is 9700 yuan / ton
.
Thai Hat Yai raw material market raw film 39.
91 (+0.
42) baht/kg; Tai San tobacco tablets 42.
89 (+0.
52) baht/kg; field glue 39.
7 (+0.
1) baht/kg; Cup gum 33 (+0.
5) THB/kg
.
SMR20 Qingdao Free Trade Zone warehouse warehouse price increase of 1330 (+5) US dollars / ton; SIR20 Qingdao Free Trade Zone warehouse warehouse price increase of 1335 (+0) US dollars / ton; STR20 Qingdao Free Trade Zone warehouse warehouse price increase of 1345 (+10) US dollars / ton
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber 1502 market price in East China 10600 (+0) yuan / ton; The market price of cis-butadiene rubber is 11100 (+0) yuan / ton
.

Warehouse receipt inventory: RU warehouse receipt 421360 tons, -100 tons; NR warehouse receipt 0 tons
.
Main positions: RU2001 top 20 long positions 84745, +2517, short positions 123508, +1249
.
Long and short increase together, headroom decreases
.

Summary: At present, domestic and foreign production areas are in the rubber tapping period, and the supply is gradually increasing
.
Vietnam's exports to China have increased significantly, and inventories will still recover
as imports continue to arrive.
On the demand side, the disaster-stricken enterprises have resumed work one after another, and the start of construction is gradually increasing, which has formed a favorable support for the overall start, but at present, domestic tire consumption is still just demand, and there is no bright spot in demand
.
The recent continuous rise in the exchange rate has increased the import cost of natural rubber, which in turn has promoted the strengthening of rubber prices, but the current rubber tapping season is still facing an oversupply situation, and the space for futures price rebound is expected to be limited
.

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