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After the Mid-Autumn Festival, the main rubber contract fell again, the current fundamentals of rubber showed a weak supply and demand situation, inventories increased significantly, rubber is still under the macro impact, resulting in a small rise in the past few days without strong support
.
It is reported that in addition to rubber low open, most other commodity futures also opened low after the holiday
.
At the same time, international crude oil and copper prices also plunged
.
Since entering September, Shanghai rubber has fallen significantly twice, whether it is the 8th or the 22nd, weak downstream consumption is an important negative factor, and in the middle of this month (10-16) rubber prices have reduced their positions and rebounded, and supply pressure is lower than expected to bring positive support
.
With the end of environmental protection inspections and the increase in travel during the "November" holiday, tire production and sales are expected to recover, and rubber prices have little room to fall
.
However, if the tire company starts to fall again during the National Day, the rubber price will face pressure
on the consumer side.
The supply side mainly looks at the import situation of external rubber, if there is indeed a significant increase in October, it will have a restraining effect
on the future rubber price rebound height.
In addition, the Fed's policy moves will influence
the trend of commodities, including rubber, through the macro level.
Overall, the supply and demand of Tianjiao are weak, and the risk aversion of funds will heat up before the November holiday, and it is expected that the short-term market will still be dominated by repeated fluctuations
.
