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Rubber remains strong and oscillating High inventories limit its rebound height

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

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Rubber prices were low on Tuesday, with prices on the back of the recent improvement in market sentiment and bright spots in downstream data
.
At present, the supply side is in a gradual increase process, but due to the early stage of cutting in the main producing areas, the output is limited
.
The current price support comes more from the expectation of phased improvement on the demand side
.
With the resumption of overseas work, orders from domestic downstream tire factories have improved, but due to the impact of the epidemic, the latest overseas automobile sales data has fallen significantly, and demand has generally shown mixed performance inside and outside
.
Short-term rubber prices are expected to remain strongly volatile, but high inventories limit the height of
their rebound.

rubber

On the 19th, the main force of Shanghai rubber closed at 10330 (+85) yuan / ton, the price of mixed rubber was 9600 yuan / ton (-150), and the basis of the main contract was -730 yuan / ton (+65); The top 20 main long positions are 90910 (+3335), short positions are 140630 (+5363), and net short positions are 49720 (+2028).

On the 19th, the main closing price of No.
20 rubber futures was 8440 (+105) yuan / ton, Qingdao Free Trade Zone Thai standard rubber 1200 (+10) US dollars / ton, Malaysian standard rubber 1170 US dollars / ton (+10), Indonesian standard rubber 1165 (+5) US dollars / ton
.
The basis of the main contract is -178 (-83) yuan / ton
.

As of May 15: Exchange total inventory 239475 (-270), Exchange warehouse receipt 234710 (-1120).

Raw materials: raw film 37.
07 (-0.
52), cup glue 27.
50 (+0.
3), glue 39.
50 (+0.
40), tobacco film 39.
81 (+0.
21).

As of May 15, the domestic all-steel tire operating rate was 62.
78% (+9.
28%), and the domestic semi-steel tire operating rate was 60.
19% (+31.
88%)
.

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