echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Shanghai rubber maintained weakness During the consolidation period, it was mainly wait-and-see

    Shanghai rubber maintained weakness During the consolidation period, it was mainly wait-and-see

    • Last Update: 2022-12-05
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    On Tuesday, the main contract of domestic Shanghai rubber RU1709 opened at 13560 yuan / ton, the highest price was 13710 yuan / ton, the lowest price was 13410 yuan / ton, and the closing price was 13630 yuan / ton, down 0.
    76% or 105; The trading volume was 719780 lots, and the position was 365416 lots, an increase of 8630 lots
    from the previous trading day.
    Tokyo rubber daily close, Nippon rubber August close 214.
    5, up 2.
    0, Nippon rubber September close 212.
    1, up 3.
    0, Nippon rubber October close 208.
    7, up 2.
    1
    .

    Shanghai rubber

    In the market, the quotation of spot US dollar rubber in Thailand in the bonded zone was lower, and the domestic spot price fell by 200-300
    .
    The domestic main sales area market, 14-year full latex in Shanghai 12900 yuan / ton; The 14-year state-owned whole milk tax-free price in Hengshui is 12,400 yuan / ton; The 16-year full latex quotation in Yunnan was 13700 yuan / ton, and the SCR5 report was 12700 yuan / ton; Guangdong Vietnam 3L reported 14200 yuan / ton
    .
    In terms of US dollar rubber, Qingdao Free Trade Zone Tai San reported 1800 US dollars / ton, and Thai standard spot reported 1480 US dollars / ton
    .
    The warehouse receipt of natural rubber futures in the previous period was reported at 309,730 tons, an increase of 1,900 tons
    from the previous trading day.

    During the day, the overall Shanghai rubber plate was still mainly volatile, and after two downward rushes below 13500, it closed back above 13500 and closed down
    .
    The current market trend is bearish, and it has plummeted to a nearly eight-month low
    .
    Tokyo rubber fell 7% under the drag of Shanghai rubber, and the disk closed slightly positive
    .
    At present, the off-season of rubber tapping in Southeast Asian rubber-producing countries is nearing the end, and the weakening of US automobile sales have weakened market confidence, and the current warehouse receipt in the last period is close to 310,000 tons, which is close to the historical high of 314,000 tons in August last year, and 1709 is the last main contract of the year, and the expiration of the old rubber warehouse receipt can not continue to turn far month, so this year's warehouse receipt pressure is very large
    .
    Recently, the strengthening of environmental protection supervision in Shandong has led to a slight decline in the operating rate of tire factories
    .

    Shanghai rubber is currently consolidating in the range of 13400-14000, if supported, Shanghai rubber rises to the 14000 line, or continues to rise to around 15000, if the upward weakness, the fundamentals do not improve, you can test the short again, below temporarily look at the 13000-13200 line
    .
    During the recent consolidation, it is mainly wait-and-see, rebounding high, and can be tested short
    .

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.