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With the approach of the Fed's September interest rate meeting, the cautious mood in the Shanghai rubber futures market before the Mid-Autumn Festival increased sharply, and the two camps of long and short chose to actively reduce their positions
in order to avoid risks.
Among them, the main 1701 contract of Shanghai rubber showed a slight rebound trend of volume reduction, and the short position reduction was stronger
.
Exchange position data shows that on the last trading day before the holiday, among the top 20 seats in the Shanghai rubber 1701 contract, the size of the long and short camp's positions shrank
sharply.
Among them, the number of long positions fell from 61564 on September 9 to 55719 on September 14, a cumulative decrease of 5845 lots; Short positions slipped from 81,336 on September 9 to 74,211 on September 14, a cumulative decrease of 7,125 lots
.
Net position data shows that the net position of the top 20 seats decreased by 6.
47%
from a net margin of 19,772 lots on September 9 to a net of 18,492 lots on September 14.
During the short holiday, systemic risks may break out in the external market, and the main bulls have some concerns, so some seats adopt the strategy
of reducing positions and passing the holiday.
It can be seen that on the last trading day before the holiday, 10 of the top 20 seats in the 1701 contract are in a state
of reduction.
Galaxy Futures and Huatai Futures were the top in terms of reduction, reducing their holdings by 1,152 and 948 respectively
.
In addition, the seats of Founder Medium-term Futures, Everbright Futures, Shenwan Futures, COFCO Futures, Hongye Futures and SDIC Anxin Futures decreased by 504, 460, 287, 257, 171 and 155 respectively
.
On the contrary, the seats of Yongan Futures, Haitong Futures and Dalian Liangyun Futures increased by 675, 197 and 160 respectively, which is more obvious
.
In contrast, the main bears are more cautious and reduce their holdings more
vigorously.
Of the top 20 short seats in the 1701 contract, 19 are in a state
of reduction.
Yongan Futures and Industrial Futures were the top in terms of the number of reductions, down by 560 and 455 respectively
.
Ruida Futures Seats, Galaxy Futures Seats, South China Futures Seats, Haitong Futures Seats and CITIC Futures Seats also showed significant reductions, with reductions of 384 lots, 331 lots, 389 lots, 216 lots and 238 lots
respectively.
On the contrary, the Earth Futures seat increased its holdings by 61 lots, which appeared to be weak
.
The Federal Reserve is about to hold its September interest rate meeting, the market is worried about the occurrence of systemic risks, after the holiday, Shanghai rubber futures long and short will still maintain a cautious attitude, funds are difficult to quickly return to the market, only after the news landed, the position will rise again
.
