The downside space of rubber is limited, and the bottom oscillation pattern is difficult to change

Following the introduction of policies by the state on the 19th to intervene in coal, the futures market generally pulled back, natural rubber down, relying on funds to speculate a handful of Thai floods, and then the momentum shock weakened, the market changed sharply, the amplitude expanded rapidly, the market in the short term to maintain weakness, if at the end of this month or early next month imported rubber to Hong Kong concentrated release, the market may be further weak, if the tail of the traditional peak season in October, downstream demand can be well boosted, another wave of strong possibility may exist
.

The fourth quarter is the peak season of rubber tapping, and the impact of weak La Niña on rubber production is limited, and the pressure on the supply segment is not reduced
.
Demand in the fourth quarter is likely to remain weak, and the operating rate has increased after environmental inspections, but the power curtailment policy has also inhibited downstream starts, and it is expected that the recovery of construction will be limited
.
Terminal demand is not good, domestic demand is not strong in the peak season, and downstream feedback has not improved at all
.
August auto sales data continued to deteriorate, with a sharp decline in heavy-duty truck sales weighing on expectations
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Inventories were slightly boosted, affected by the overseas epidemic and sea freight, the increase in arrivals was less than expected, and the inventory in Qingdao still maintained destocking, but the impact on the market was limited
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On the whole, the expectation of strong supply and the reality of weak demand continue to suppress rubber prices, and the bottom shock pattern of rubber prices is difficult to change, but the downside space is limited, the band operation is the mainstay, and the bargain is built more
.