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Last week's rubber trend fell, Thailand raw material glue released, prices loosened, fell obviously, the domestic market weakened simultaneously, the current price fell to a low level, domestic spot is relatively firm, futures current price spread contracted, but under the background of the global recession, overseas demand is expected to be weak, if the supply side continues to be smooth, the price has no effective fundamental support, it is expected to remain weak
.
As of Thursday, the average price of Shanghai full latex was 11,945 yuan / ton, down 215 yuan / ton, or 1.
77%; The average price of STR20# mixed rubber in Shandong market was 11695 yuan / ton, down 163 yuan / ton, or 1.
37%.
During the week, Shanghai rubber showed a wide range of oscillations that first fell and then rose, while the spot market price market maintained a downward shift in the center of gravity
.
During the week, Tianjiao's own fundamentals lacked bullish support, especially the sluggish performance on the demand side, and the enthusiasm for buying on the dip was not good, and only a few just needed to purchase
.
On the supply side, there is a lack of speculation, although the overall release of new rubber production due to weather and external factors is not smooth, but the demand is also weak, so in the context of weak supply and demand, the market is mainly weak operation, and the trading atmosphere of the spot market is also in a downturn, and the transaction is limited
.
Qingdao dollar gum spot prices fell
last week.
The spot price of natural rubber dollars fell last week, and the weekly average price was lower
than the previous week.
On the one hand, the price of Shanghai rubber fell down, resulting in a lower center of gravity in the US dollar price after hours; On the other hand, the demand for downstream tires and rubber products is sluggish, and the willingness to buy is not strong, which is bearish for rubber prices
.
As of Wednesday's close, the weekly average price of STR20# was $1548 / ton, down $37 / ton, or 2.
39%; The average weekly price of STR20# was 1535 US dollars / ton, and the average price fell by 23 US dollars / ton, or 1.
50%.
On the demand side, the overall performance of the downstream tire market is not good, the improvement of the domestic market is limited, and the overall orders are weak; Export orders showed a high downward trend; At the same time, the current high temperature power rationing in some areas, tire enterprise finished product inventory led to greater financial pressure, many factors are expected to short-term major downstream tire industry overall start may be limited, raw material procurement demand is difficult to increase
, so rubber prices lack effective support on the demand side.
Supply is expected that under the seasonal release cycle, the release of new rubber from domestic and foreign production areas will be further increased under normal circumstances, but there are more rainy weather in Yunnan production areas, and the release of domestic new rubber in Hainan production areas is not smooth due to other factors; However, at the same time, with the recent increase in cargo arrivals, and the weak performance of downstream demand, the port inventory accumulation is expected to increase, so the supply side as a whole, there is a lack of bullish speculation on the Tianjiao market
.
