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Monday, November 29, 2021

Shanghai rubber decline slowed

Thursday, the Shanghai natural rubber period of decline is slowing.Sept. main contract, eventually closing right foot to 22,785 yuan / ton, down 325 yuan / ton. This turnover of 403,000 contracts a day hand, 155,000 hand positions to reduce the 14,324 hands.

Macro side continue the good momentum of recovery of the U.S. economy, the U.S. job market continues to improve, the capital back into the United States sentiment increased commodity pressure; the U.S. stocks ten lianyang continue to create a record high, the dollar also continued strong finishing. Europe Italy rating downgrade Italy’s political instability, the market outlook deposit uncertainty, concerned about the recent the EU Spring Festival held summit, if there is no greater good, the dollar is still expected to extend gains. Recently, Hujiao crash, the stock market plunge, a strong market sentiment, market fundamentals in the city without a price stage, despite producing areas in stop cut in the period, but a lot of inventory digestion slow progress. The Shanghai rubber after last week’s sideways this week Masukura incremental Powei crash but Hujiao gradually close to important support platform for 22,000 yuan / ton in the vicinity, the decline is expected to gradually slowed down, the market outlook is expected to mainly weak shocks.

Operation: the The the short term Hujiao in the 22000-23500 range buy low sell high, aggressive traders can try to 22000-22500 range short multi prudent traders waiting for prices to return to 23500-24000 short-selling.


Shandong Province natural rubber price sharply lower, the terminal market purchases scarce, the merchants 封盘 offer rare. Sporadic quotes as follows: heard of Yunnan private offer as low as 22,000 yuan / ton; the Yunnan state standard two offer 20,600 yuan / ton, Vietnam 3L glue no tax offer 20,700 yuan / ton; Thailand # 3 the smoke-chip 17 tax reported 22,500 yuan / ton.

Translated by Google Translator from http://news.cria.org.cn/4/13403.html

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