The pattern of supply and demand has not changed, and the upside of rubber should not be overly optimistic

Stimulated by the expected rise in tire prices, the overall shipments of domestic tire factories before and after the National Day were good, and some manufacturers maintained a certain operation
during the National Day period due to the decrease in inventory at the end of last month.
Although affected by a series of factors such as raw material costs, tire company inventory decline, and low output expectations, due to the actual sales of the terminal has not improved, the tire stockpile is greater than the sales volume, and the inventory is only transferred from the manufacturer to the market merchant, and the actual landing of short-term tire prices remains to be seen
.
At present, the rubber inventory of Qingdao Free Trade Zone in China continues to decline
.

With the rebound of the epidemic in Europe and Southeast Asia, lockdown measures in some countries have been tightened again, the market's optimistic expectations for external demand recovery have been suppressed, fundamentals have weakened, and profitable funds have gradually left the market, and natural rubber prices are expected to enter a tug-of-war stage
.

In the medium term, the main overseas natural rubber producing countries are still in the stage of production release, the impact of the lack of cores of electric vehicles and traditional vehicles will continue, as a barometer of natural rubber consumption, domestic heavy truck sales continue to decline, the pattern of natural rubber supply and demand reduction has not changed, and the upside of natural rubber should not be overly optimistic
.