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Thursday, September 28, 2023

Shanghai rubber continue to rise, but did not receive the funds

Shanghai rubber yesterday slowed or 1305 contract running between 26040-26355 yuan / ton late in the day to close at 26,285 yuan / ton, up 105 yuan / ton, or 0.40%. Throughout the day the transaction is still in the doldrums, a total turnover of 189,682 hand positions to reduce 7354 hand, total dropped to 119,450 hand positions.

Long the main large departure. 1305 contracts on the long main lighten up 2294 hand, only five members choose Masukura And to Masukura most also only a mere 18 hands. The main short 1207 hand, and only six members to lighten up. Changes in structure from the positions, the lack of market for prices to rise further in the short term confidence. The price may appear in the near future highs.

Domestic spot market rose. RMB gum up 100-200 yuan / ton, East offer rose to 25,600 yuan / ton. But turnover is rare. The Free Trade Zone offer higher, or between 10-25 U.S. dollars / ton. The outer disk quotations was up steady. Thai RSS3 quotation 3350-3370 U.S. dollars / ton, horse marked 20 # quotation 3150-3170 U.S. dollars / ton, the Indonesia 20 # quotes 3060-3090 U.S. dollars / ton.

Raw materials prices vulnerable to decline, the appreciation of the baht continued: raw film at 86.29 baht / kg, down 0.80 baht / kg; smoked rubber at 88.10 baht / kg, down 0.18 baht / kg; glue at 78.00 baht / kg, down 1.00 baht / kg.

Rubber Thursday were mixed in Asia, traders said, although before the Spring Festival market transactions have slowed, but still buyers continue to purchase far January cargo. February / March shipment Thai RSS3 quotes 329-334 cents / kg, the previous day quotes 328-330 cents / kg.

Maintain a smooth synthetic rubber, butadiene quotations 17600-17800 yuan / ton, butylbenzene 1502 quotations 17200-17400 yuan / ton.

The crude oil price highs, U.S. crude oil 03 to close at 97.53 U.S. dollars / barrel, down nearly 0.5%. The dollar index continued to fall, currently run 79.2 below.

FOMC statement: “stagnation” of economic growth due to temporary factors, will continue to QE. The U.S. Senate passed the debt ceiling until May 19 motion.

Deputy Governor of the Bank of Japan hinted prepare for further easing.

Clearly, the tide of global easing will continue adding fuel to the flames. Shanghai rubber expected to rise in the medium-and long-term cycles are unchanged. But in the short term, we have not seen the chase of the funds on the futures market. After the completion of the recent wave of rising Shanghai rubber or slowed down, or from the highs may be a greater probability event. The first concerned about 26,500 yuan / ton to exploration and.

Translated by Google Translator from http://news.cria.org.cn/4/12821.html

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