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Rubber positions were reduced, and the futures price was volatile and closed down

 Last Update: 2022-12-18
 Source: Internet
 Author: User

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urobilinogen 2.0

ir 1 2 impact

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On Thursday, the rubber RU2005 contract reduced its position and tested down, and the futures price closed lower
.
The current price closed at 9680, -5.
24% from the previous trading day; Volume 268934 lots, position 89273 lots, -15755; basis -130; RU5-9 spread -280
.
The NR2005 contract futures closed at 8110, -5.
64% from the previous session; Volume 12606 lots, position volume 19607 lots, -834; NR5-6 spread -65
.

rubber

News: 1.
From March 20, the export tax rebate rate of some synthetic rubber in China will be increased to 13%.

2.
Passenger car association: The narrow passenger car retail market in March is forecast to fall by 41%
year-on-year.
3.
Michelin closed a number of tire plants
in Europe.

Market quotation: Shanghai market 18-year state-owned full latex reported 9550 (-650) yuan / ton, Vietnam 3L reported 9850 (-600) yuan / ton, Thailand No.
3 tobacco film reported 11750 (-650) yuan / ton
.
Qingdao market STR20 stock spot reported 1240 (-30) US dollars / ton, Qingdao market STR20 March cargo reported 1240 (-30) US dollars / ton
.
Thai Hat Yai raw material market raw film 40.
21 (-0.
9) baht/kg; Tai San tobacco tablets 43.
2 (+0) baht/kg; Field glue 37.
3 (-1) baht/kg; Cup glue 31 (-0.
5) 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
.

Warehouse receipt inventory: RU warehouse receipt 239370 tons, - 210 tons; NR warehouse receipt 55653 tons, + 806 tons
.

Main position: RU2005 Top 20 long positions 46222, - 6752; short positions 60439, - 10625; long and short are reduced, net short is reduced
.

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.
Recently, the operating rate of domestic tire factories has rebounded significantly, but tire demand is still in the recovery period, 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 international market sentiment and volatility intensifies, and the short-term peripheral market is still unstable, it is recommended to wait and see
.

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