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Rubber continues to accumulate the pattern to curb short-term upside

 Last Update: 2022-12-24
 Source: Internet
 Author: User

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On Wednesday, the main force of rubber RU closed at 14655 (+5) yuan / ton, the price of mixed rubber was 13300 yuan / ton (0), and the basis of the main contract was -895 yuan / ton (-5); The top 20 main long positions 107532 (-2274), short positions 167240 (+268), net short positions 59708 (+2542).

NR main closing price of 11910 (+100) yuan / ton, Qingdao Free Trade Zone Thai standard rubber 1842.
5 (0) US dollars / ton, Malaysian standard rubber 1825 US dollars / ton (0), Indonesia standard rubber 1880 (0) US dollars / ton
.

rubber

As of January 28: total stock on the exchange 245836 (+1962), exchange warehouse receipt 228700 (+2290).

Raw materials: raw film 58.
11 (+0.
22), cup glue 49.
5 (+0.
2), glue 60.
3 (+0.
8), tobacco film 62.
55 (+0.
53).

As of January 27, the domestic all-steel tire operating rate was 20.
15% (-31.
98%), and the domestic semi-steel tire operating rate was 39.
98% (-15.
03%)
.

Thailand's main producing areas have entered the off-season of rubber tapping, the output of raw materials is limited, and the price of raw materials continues to rise after the holiday, the current price of Thai tobacco chips converted to the domestic plate reached 15,000 yuan / ton above, rubber cost support is strong
.
From a fundamental point of view, the domestic downstream has not yet recovered, and the arrival volume has rebounded significantly, resulting in a continuous increase
in port inventory.
However, the absolute inventory is still on the low side, and the overall speed of resumption of work will be paid attention to in the later stage
.
At present, the seasonal accumulation of domestic Qingdao port has arrived, combined with the domestic downstream off-season, it is expected that the accumulation pattern will continue before the end of February, inhibiting short-term upside
.
It is recommended to wait and see
for now.

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