Trending markets are difficult to appear, rubber oscillations are weakly running

From a fundamental point of view, the recent impact of heavy rain on rubber tapping in production areas, coupled with the continuous fermentation of the epidemic in Southeast Asia, has caused greater uncertainty on the supply side, which has boosted the price of rubber in Thailand to rise
continuously.
Domestic imports are expected to continue to pick up month-on-month in August, but the increase is limited and remains low year-on-year
.

There is no significant improvement in demand, the domestic market is weak, export orders are acceptable but still constrained by ocean freight and container problems, dragging down tire manufacturers to ship slowly, inventory continues to rise, and inhibits
the overall operation.

On the whole, the recent cost side and supply side support is strong, but the weakening of the market atmosphere has formed a certain suppression of rubber, and it is expected that short-term rubber prices will maintain a volatile trend
.
In addition, due to the weakening of concentrated milk diversion, the increase in the production of whole latex is relatively certain, the RU warehouse receipt inventory continues to accumulate, and the consumption of whole milk is not as good as last year under the price disadvantage compared with 3L in Vietnam; However, dark rubber stocks maintain the trend of destocking, and under the background of overseas economic recovery, tire demand is expected to improve, so NR performance is stronger than RU, and RU-NR price spread still has some room to
return.