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Weak supply and demand drive in the later period The current rebound of rubber needs to be treated with caution

 Last Update: 2022-12-24
 Source: Internet
 Author: User

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On Thursday, the main force of rubber RU closed at 13705 (+120) yuan / ton, mixed rubber quotation 13000 yuan / ton (+100), the basis of the main contract -605 yuan / ton (+30); The top 20 main long positions are 51975 (-12444), short positions are 76756 (-16193), and net short positions are 24781 (-3749).

NR main closing price of 11425 (+65) yuan / ton, Qingdao Free Trade Zone Thai standard rubber 1790 (+15) US dollars / ton, Malaysian standard rubber 1782.
5 US dollars / ton (+7.
5), Indonesian standard rubber 1815 (+10) US dollars / ton
.

rubber

As of March 25: Exchange total inventory 257653 (+4090), Exchange warehouse receipt 244170 (+1890).

Raw materials: raw film 64.
29 (+1.
29), cup glue 50.
55 (+0.
4), glue 67.
2 (0), tobacco film 71.
9 (+0.
81).

As of March 24, the domestic all-steel tire operating rate was 56.
55% (+4.
51%), and the domestic semi-steel tire operating rate was 72.
15% (+2.
95%)
.

This week's rubber stopped falling and rebounded, mainly due to the repair of its own micro price difference was compressed to the extreme, especially when the RU05 contract price was lower than the cost price of raw materials in the main production area of Yunnan, there was a rebound demand
.
At the same time, with the decline of the previous price, the non-standard price spread of Shanghai rubber continued to narrow, bringing arbitrage market exit and the main short position moving down in advance, coupled with the expected improvement in domestic demand, the rebound caused by the slowdown of the pressure on the bears
.
As the domestic supply will gradually increase, but the initial production is limited, the supply pressure can not be reflected temporarily, but the demand performance is poor, and the supply and demand drive in the later period is weak, it is recommended to be cautious about the current rebound, short-term participation is the mainstay
.

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