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On May 10, the overall demand performance of the domestic Shanghai rubber market was insufficient, coupled with the greater inventory pressure in the rubber bonded zone
.
In the short term, there is still some room
for downward adjustment in the quotation of Shanghai rubber.
From the perspective of the spot market, the 15-year Yunxiang state-owned whole milk quotation in the Shanghai market is 12800 yuan / ton (-0), and the 16-year whole milk quotation is 13100 yuan / ton
.
Qingdao area Thai RMB mixed rubber 12800 yuan / ton (-0), Vietnam 3L mixed rubber quotation 13400 yuan / ton (+100), Thailand 3# tobacco flakes 13900 yuan / ton (-0).
Free Trade Zone, RSS3 Tobacco Tablets 1800-1850 USD/ton (+10); STR20# near the port, arrival quotation of 1520 US dollars / ton (+10), June to July cargo 1540-1560 US dollars / ton (+15).
Externally, RSS3# reported 2035 US dollars / ton (-35), STR20# reported 1580 US dollars / ton (+20), Thai raw material purchase price fell, raw film 68.
08, down 1.
47; smoke film 70.
07, down 0.
20; glue 62.
00, down 2.
00; cup glue 46.
00, down 1.
50 (baht/kg).
In terms of inventory, as of May 2, rubber stocks in Qingdao Free Trade Zone increased by 13.
5% to 249,800 tons, a net increase of 29,700 tons from the previous period, and rubber stocks outside the zone also continued to increase
.
Overall, the rubber spot inventory in Qingdao is relatively abundant
.
In terms of import and export, according to data from the General Administration of Customs of China, in April 2017, China imported a total of 580,000 tons of sky rubber and synthetic rubber (including latex), an increase of 16% over 500,000 tons in the same period last year.
However, it decreased by 17%
month-on-month.
In the first four months of 2017, a total of 2.
35 million tons of sky rubber and synthetic rubber (including latex) were imported, a year-on-year increase of 30.
3%.
In addition, foreign rubber production areas have been cut one after another, the future supply side will continue to rise, domestic imports have increased sharply, Qingdao Free Trade Zone inventory continues to rise, real estate sales have declined, the economy may return to recession, downstream demand is insufficient, heavy truck sales season has passed, passenger car growth continues to slow down, rubber and tire destocking pressure is greater
.
It is expected that there is still room for the decline of Shanghai rubber, and traders are advised to trade
cautiously.
