Rubber prices are expected to continue the weak volatility pattern in the short term

On the 28th, the main closing price of NR was 11755 (-70) yuan / ton, Qingdao Free Trade Zone Thai standard rubber 1835 (0) US dollars / ton, Malaysian standard rubber 1830 US dollars / ton (0), Indonesia standard rubber 1880 (0) US dollars / ton
.

As of February 25: Exchange Total Inventory 249015 (+1170), Exchange Warehouse Receipt 237250 (+1240).

Raw materials: raw film 65.
05 (-0.
14), cup glue 51.
30 (0), glue 70.
5 (+0.
5), tobacco film 68.
89 (+0.
58).

As of February 24, the domestic all-steel tire operating rate was 52.
78% (+19.
73%), and the domestic semi-steel tire operating rate was 55.
29% (+19.
11%)
.

Opinion: As the market price continues to decline, the current futures and spot price difference between standard and non-standard products has further narrowed
.
From the perspective of price difference, due to the weak price of finished products, and the price of raw materials is still high, the profit generated by the upstream end has been significantly compressed
in the near future.
The price spread between full latex and mixed rubber has also continued to narrow, and the two are basically flat
.
In the later stage, the focus on the recovery of downstream demand is still in the seasonal recovery, but no additional demand has risen, so the pressure of tire factory finished products to destocking is still large, and the demand for raw material procurement is weak, and it is expected that the accumulation of port inventory will continue
.
It is expected that rubber prices will continue to fluctuate weakly in the short term
.