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The main contract of Shanghai rubber recently suffered a huge intraday shock, rising more than 2% in early trading yesterday and quickly diving after jumping, and the decline expanded to 1.
5% in the afternoon, and then paid higher to close up
at the end of the day.
Rubber oscillates around the 17500 line, and the bearish sentiment has eased
.
At present, the industrial product index has signs of short-term peaking, the early leading rubber led the decline sharply, the current price has been discounted to futures, and the downside space is limited
.
The current demand side failed to support the further rise in futures prices, manufacturers were not active in purchasing after the holiday, consumption was weak, spot quotations followed slowly, on the other hand, the plunge in synthetic rubber prices accelerated the withdrawal
of long funds.
Qingdao Free Trade Zone inventory increased
.
At present, spot stocks are still on the tight
side.
On the supply side, Thailand's peak season floods trigger the risk of supply shortages: Although the impact of the floods in southern Thailand on the supply of this rubber season has been reflected, it is difficult to ease
the tight situation of raw materials in China before May.
Rubber fundamentals have recently had no lack of positive news, heavy truck sales in February hit a new high, Thailand delayed storage is also regarded as positive, but the market to shock adjustment operation, has shown that the main contradiction is not in the downstream data and storage problems, but market participation is decreasing, long and short confidence is not sufficient, spot demand is light, inventory costs are high, so Tianjiao temporarily difficult to have a trend market
.
Thailand sold reserves for the third time on the 21st, domestic automobile sales fell month-on-month, tire company procurement slowed down, rubber (18090, 80.
00, 0.
44%) remained weak
in the short term.
China is on the eve of cutting, and the situation of powdery mildew in gum trees needs attention
.
After Thailand's gradual shutdown, the supply pressure is not large, and the consumption data is acceptable
.
At present, the price of synthetic rubber has fallen slightly, and the inventory in the bonded area has begun to grow
.
Overall, rubber has short-term storage pressure, but there is still support for stopping cutting and consumption, and the upper and lower space are limited, so it is recommended to wait and see
.
