Affected by the reduction in both supply and demand, the natural rubber futures market fluctuated at a low level. As of the close of February 20, the main Shanghai Rubber Contract RU2005 closed at 11,690 yuan / ton, up 90 yuan / ton, or 0.78%.
In terms of supply, the northern hemisphere production areas are currently in the low-season tapping season. Among them, Hainan and Yunnan, the main producing areas in China, are still in the halting period, and Thailand, Malaysia, and Vietnam are in the deciduous period. The Indonesian production areas in the southern hemisphere are in the tapping state. In the later period, natural rubber in Yunnan, China will be cut in mid-March, Hainan, China and northern Thailand will be tapped in early April, and the global rubber tapping season will begin in mid-to-late April. It is expected that the supply of natural rubber will increase.
In terms of inventory, in late February, there were shipments to Hong Kong, and some natural rubber warehouses in Qingdao were in a state of full storage. Later, the pressure on merchants may increase.
In terms of futures stocks, the rubber stocks in the previous period increased steadily. As of February 14, total latex inventory was about 244,000 tons, and the stock of No. 20 rubber was about 53,400 tons. The inventory pressure is still heavy.
As of February 14, the operating rate of semi-steel tire enterprises was 35.6%, an increase of 26.2% from February 7. The operating rate of all-steel tire enterprises was 14.45%, an increase of 4.35% from February 7. In the short term, due to the impact of the new crown pneumonia epidemic, there are still restrictions on the rework of a large number of foreign workers, or the lack of labor in the enterprise. It is expected that the operating rate of tire companies in the short term will still not rise sharply.
In the later period, demand shrinks or exceeds the decline in supply. It is expected that the short-term natural rubber futures market will still fluctuate in low areas.
Translated by Google Translator from http://www.cria.org.cn/newsdetail/53190.html