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The rubber futures market continued to be weak and volatile
this week.
RU workhorse 2109 closed at 12795 on Friday, up 55 yuan
from last Friday's close of 12740.
On the macro front, the US employment data performed averagely, infrastructure plans advanced, U.
S.
bonds towards reality, market sentiment is still loose, crude oil first fell and then rose strongly, still need to be vigilant next week production increase expectations fermentation, commodities mostly rising, macro sentiment is acceptable
.
Thailand, there is still heavy precipitation in the south, raw material prices held steady yesterday, glue is still 49.
5 baht, cup glue rose back to 42.
7 baht, Thailand's first five months of tianjiao exports increased by 18% year-on-year Mixed rubber fell 28%, from the domestic production area survey, Banna raw material supply is slightly tight, powdery mildew and other obvious impact, alternative indicators may wait until the end of July to lead to standard rubber raw materials relatively firm
.
In the downstream, the short-term domestic market is still weak, tire exports in May fell slightly month-on-month, and factory procurement intentions are also relatively average
.
Demand in overseas markets has indeed rebounded, and expectations are improving, but under the limitation of shipping costs, only expectations are unrealistic
.
Macro easing sentiment continues to ferment, in the past two days, rubber due to its own low valuation, high virtual to real ratio under the reality of the position sentiment has changed, short-term raw materials if continued to maintain stability may maintain a strong shock, slow and small rebound
.
On the whole, the upstream is still in the off-season of supply, but the supply is gradually improving, the price of raw materials is under pressure to fall, the dark rubber inventory is normal, it is expected to slow down in the later stage, the light color to inventory remains in its original state, the overall downstream start has fallen significantly, the pressure above Shanghai rubber is more obvious, especially after the supply of raw materials in the later period is sufficient, but there is also support in the short-term lower 12000-12500 range, and it is cautious to chase the short
when it is about to fall.
