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On Friday, Shanghai rubber closed up sharply, the main intraday volume, the market returned to a strong trend
.
The price of raw materials in the production area is firm, and the market is optimistic about the future demand for tianjiao, driving the futures market to remain strong
.
The fundamentals of Shanghai rubber spot have not changed much, the overall domestic inventory is high, but the inventory of deliverables is low, the weather abroad is normal, the production area has entered the supply season, affected by the foreign epidemic, there is greater uncertainty in the export of downstream products, the futures market is strong in the short term but there are more uncertainties in the later stage, it is recommended to remain cautious
.
In terms of market, Yunnan production areas gradually stopped cutting, and raw material prices remained stable
.
Raw material prices rose
slightly in Southeast Asia due to rainfall.
Natural rubber holdings continued to increase, and speculative speculation in the market intensified
.
At the technical level, rubber short-term breakthrough platform finishing area, bullish trend maintained, is expected to hit the year's high
.
On the supply side, the global natural rubber production reduction in 2020 has become a foregone conclusion, most of the tianjiao in Yunnan has stopped cutting this month, most of the cutting in Hainan will also stop cutting at the end of next month, and the domestic production will be in the lowest period of production, while Southeast Asian production areas have heard of the recent rain impact, the supply side support is strong
.
In the last issue, the inventory of commodities in the week ended November 20 was 142,000 tons, down 119,000 tons from the previous month, a decrease of 45%.
In terms of demand, China's tire exports and domestic sales continue to rise
.
Statistics show that the operating rate of domestic semi-steel tire manufacturers last week was 71.
19%, and the operating rate of all-steel tire manufacturers was 74.
04%, which was relatively stable overall, and demand remained stable
.
Analysts believe that combined with the recent macro, natural rubber supply and demand fundamentals and the trend of tianjiao in the same period of previous years, it is expected that short-term tianjiao will maintain a strong shock trend
.
