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Under the weak supply and demand drive, rubber prices continued to fluctuate at a low level

 Last Update: 2022-12-25
 Source: Internet
 Author: User

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On Wednesday, the main force of rubber RU closed at 12705 (-165) yuan / ton, the mixed rubber quotation was 11375 yuan / ton (-100), and the basis of the main contract was -730 yuan / ton (+90); The top 20 main long positions are 85894 (+2938), short positions 109228 (+3447), and net short positions are 23334 (+509).

NR main closing price 10115 (-115) yuan / ton, Qingdao Free Trade Zone Thai standard rubber 1497.
5 (-37.
5) US dollars / ton, Malaysian standard rubber 1485 US dollars / ton (-10), Indonesian standard rubber 1545 (-30) US dollars / ton
.

rubber

As of August 19: Exchange total inventory 284053 (+469), Exchange warehouse receipt 258660 (+3880).

Raw materials: raw film 48.
28 (+0.
08), cup glue 45.
2 (+0.
2), glue 47.
8 (+0.
3), tobacco film 50.
50 (+0.
01).

As of August 18, the domestic all-steel tire operating rate was 56.
81% (-2.
54%), and the domestic semi-steel tire operating rate was 61.
33% (-3.
11%)
.

Rubber continues the pattern
of weak supply and demand at low valuation.
With the improvement of rainy weather in the main producing areas, the amount of raw materials is gradually increased, and the domestic import volume will gradually recover, but because the raw material inventory of downstream factories has been maintained at a low level, the port maintains a certain outbound rate due to downstream just purchases, resulting in the accumulation of port inventory is not obvious
.
The situation of low domestic inventory is maintained, which still has a supporting effect on the price of rubber, and at the same time, the current price of RU's main contract has fallen below the cost of Yunnan glue, and the short-term downside will also be limited
before seeing a sharp decline in raw materials.
The weak domestic demand has led to the pressure on downstream finished product inventories has not eased, and rubber prices have continued to fluctuate
at a low level under the weak supply and demand drive.
It is recommended to wait and see
for now.

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