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Friday, December 3, 2021

Rubber fundamentals are bearish

Market Review

Early Hujiao main 1309 contract opened at 24,050 yuan / ton, the highest climbed to 24,070 yuan / ton the minimum exploration to 23,220 yuan / ton, eventually closing at 23,240 yuan / ton, the settlement price of 23,585 yuan / ton, compared with the previous day down 930 yuan / ton. The trading volume of 506,842 positions to 164,466 hand Masukura 27604 hand.

Viewpoints concern

According to the statistical analysis of the China Association of Automobile Manufacturers, in February 2013, the Spring Festival holiday, effective five days less working days than the previous month, compared with a year earlier, effectively working day at least four days, so this month, automobile production and marketing chain, and a year-on-year showed certain decline. In January-February, automobile production and sales year-on-year showed faster growth, significantly better than last year, passenger growth rate higher than the industry, commercial vehicles decline slowed compared to the same period last year. Overall production and sales situation in the first two months last year, the main reason is that more significant growth in January and February was significantly decreased, but the total is higher than the corresponding growth.

February, automobile production 1,347,200, a decline of 31.42%, down 16.25%; sales of 1,354,600, a decrease of 33.42 percent year-on-year decline of 13.56%. Including: passenger car production 1,105,100, a decrease of 31.84% year-on-year decline of 12.40%; sales of 1,111,900, a decrease of 35.56%, down 8.34%. Commercial vehicle production of 242,100, a decline of 29.47%, a year-on-year decline of 30.25%; sales of 242,700, a decline of 21.44% year-on-year decline of 31.42%.

In January-February, the automobile production and sales 3,311,700 and 3,389,100, a year-on-year growth of 14.06% and 14.72%, the same period last year of negative growth. Passenger car sales 2,726,200 and 2,837,400, an increase of 17.76% and 19.53%, higher than the industry by 3.70 percentage points and 4.81 percentage points; commercial vehicle sales of 585,500 and 551,700, down 0.51% and 4.97 %, a decline compared to the same period last year slowed to 15.36 percent and 6.94 percent.

Operation Tip

Today 1309 opening trend down, rubber (23,225, -360.00, -1.53%) prices break through 24000 in the platform below, see technical rubber prices showed significantly down, but did not break through the previous lows, fundamentals bearish volume pulled today, positions amount significantly Masukura, is expected to continue down looking for support after the 1309 breakthrough platform, it is recommended that homeopathic wet storage operation tomorrow interval bit 23070-23480.

Translated by Google Translator from http://news.cria.org.cn/4/13339.html

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