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On Thursday, the rubber RU2009 contract opened lower and higher, and the futures price closed higher
.
The current day price closed at 9745, +1.
4% from the previous trading day; Volume 246010 lots, position 158605 lots, +1795, basis -445; RU9-1 spread -1355
.
The NR2005 contract futures closed at 7705, +0.
85% from the previous session; The volume was 5284 lots, the position was 11287 lots, -676; the NR5-6 spread was -85
.
News: 1.
Nissan extended the shutdown of its U.
S.
plant until the end of
April.
2.
From April 1, there will be 15 days of social isolation
across Vietnam.
3.
From January to February 2020, the export volume of rubber from Côte d'Ivoire increased by 15%
year-on-year.
Market quotation: Shanghai market 18 years state-owned full latex reported 9300 (-100) yuan / ton, Vietnam 3L reported 9650 (-50) yuan / ton, Thailand No.
3 tobacco film reported 11600 (-50) yuan / ton
.
Qingdao market STR20 stock spot reported 1090 (-30) US dollars / ton, Qingdao market STR20 April cargo reported 1090 (-30) US dollars / ton
.
Thai Hat Yai raw material market raw film 36.
55 (-0.
52) baht/kg; Tai San tobacco tablets 38.
5 (-0.
52) baht/kg; field glue 36 (+0) baht/kg; Cup gum 25.
5 (+0) baht/kg
.
Synthetic gum: Qilu petrochemical styrene-butadiene rubber 1502 market price 7700 (-300) yuan / ton; The market price of cis-butadiene rubber is 7400 (-400) yuan / ton
.
Warehouse receipt inventory: RU warehouse receipt 236630 tons, - 130 tons; NR warehouse receipts 59,593 tons, + 2,418 tons
.
Main positions: RU2009 Top 20 Long Positions 74420, + 811; Short Positions 110497, -143; Increase and Short, Clearance Decrease
.
Summary: From the current fundamental point of view, low-priced crude oil has caused the price of synthetic rubber to follow the decline, which has a certain drag
on the price of natural rubber.
Coupled with the continued spread of the overseas epidemic, it will adversely affect China's tire exports to the European and American markets, and many overseas tire factories and automobile manufacturers have stopped production, putting pressure
on global demand for natural rubber.
Although the operating rate of domestic tire factories is still recovering recently, export shipments are blocked, some orders are canceled, and the operating rate may decline in the later period
.
Due to the slow recovery of demand, rubber stocks in Qingdao have continued to rise recently, and the later destocking process may be longer
than in previous years.
RU2009 contracts are recommended to trade in the 9400-9930 range for short term and NR2005 short term recommendations are for trading
in the 7300-7800 range.
