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Tuesday, December 7, 2021

Stronger yen and the euro area stimulus Shanghai rubber plunge

1. Natural rubber futures

Dong Jingjiao opened low, fell sharply, the benchmark 1308 contract settlement price of the solar disk 270.9 yen / kg, compared with the previous trading settled down 12.0 yen / kg.

Intraday lows Shanghai rubber opened low, the main RU1309 contract opened at 22,750, the lowest 21800, up to 22,810, close to 22,260, down 690 points over the previous day, all-day turnover of 412,414 hand positions to reduce the 9434 hand to 139,054 hand .

2. Rubber net pending order, the transaction prices

Trading floor

Product

Pending order quantity (tons)

Pending order price ($ / ton)

Volume (tons)

Average transaction price ($ / ton)

Yunnan

SCRWF / latex (AM)

60

24200

Yunnan

SCRWF / latex (afternoon)

Hainan

SCR5 / 5 # standard rubber (afternoon)

Hainan

SCRWF / latex (AM)

210

23250

105

23250

SCRWF / latex (afternoon)

210

23250

3. Natural rubber international outer disk

Products (4 / May shipment)

Today price (U.S. $ / ton)

Change ($ / ton)

Thailand’s No. 3 cigarette RSS3

2900 – 2940

6 0-60

Thailand 20 plastic STR20

2770-2800

5 0-50

Thailand on the 20th Composite standard plastic

2770-2800

5 0-50

The Malay the 20th standard rubber SMR20

2760-2790

5 0-50

Malay No. 20 composite standard plastic

2760-2790

5 0-50

Indonesia on the 20th standard rubber SIR20

2710-2740

5 0-50

Vietnam 10 # standard rubber SVR10

2720-2750

4 0-40

Of of 3L gum SVR3L in Vietnam

284 0-2870

12 0-120

Roundup: as Dong Jingjiao, and Shanghai rubber futures fell sharply, Thailand Hat Yai raw materials market lower, with a substantial decline in external disk market today, Mattei price tag prices have dropped to less than $ 2,800 . Futures fell below did not receive effective support businesses not to rush to cover short positions.

4. Natural rubber in the domestic market

By the impact of futures plunge continuation of a decline in the spot market today. Business mentality is more pessimistic about the market, the majority of businesses have been losses. But the price is lower, downstream buying interest has not been effective stimulus still digest mainly pre-holiday inventory, stocking can support around the end of March. State-owned rubber, the the Yunnan state-run standard offer in 22600-22700 yuan / ton, Hainan’s state-run rubber reported 22,300 yuan / ton, Hainan old glue quotations 21900-22000 yuan / ton; private gum aspects, understand Yunnan domestic standard two plastic in 20000-20200 yuan / ton; Vietnam 3L reported 21700-22000 yuan / ton; Thailand 3 # smoked sheet reference offer in 22000-22300 yuan / ton (17% of the votes).

Qingdao Free Trade Zone

Yesterday’s price ($ / ton)

Change ($ / ton)

Thailand 3 # smoke piece

2850-2880

70

Thailand # 20 standard plastic

2710-2750

50

# 20 composite standard plastic in Thailand

2710-27 50

50

The Indonesia 20 # standard plastic

2700-2720

40

The Malays 20 # standard plastic

2710-2750

50

The Malays 20 # composite standard plastic

2710-2750

50

Roundup: Free Trade Zone the Mattei composite standard rubber quoted in RMB 20,200 yuan / ton. Impact of futures fell sharply today adhesive RMB offer local dollars reported disk have different degrees of decline, due to larger decreases in the market today offer deserted Mattei standard glue spot sporadic offer in 2750 U.S. dollars / ton, cargo aspect offer $ 2,800 / ton, businesses low-cost shipping intention is not high, some company is interested in cheaply.

 

(Note: The domestic market price of more than offer morning, U.S. $ glue are afternoon quotes)

5. Comprehensive analysis and forecast

News:

1, Cyprus on Saturday morning received an unprecedented one-time tax program to bank depositors, in exchange for 10 billion euros in bailout loans issued by the euro zone and the IMF. More than 100,000 euros and the following bank account will be a one-time deposit tax rate of 9.9% and 6.75%, this will raise 5.8 billion euros, equivalent to about 33% of its GDP in.

2, the International Monetary Fund said on Friday, due to the downturn in economic growth or lead to the loss of more debt, the risks faced by the EU in the area of ​​financial stability is still higher.

3, the Japanese parliament on Friday approved a government nominated by the new leadership of the Bank of Japan, paved the way for more radical easing monetary advance for the new President Haruhiko Kuroda.

4, as of March 15, the Free Trade Zone, the natural rubber stock of 206,400 tons, synthetic rubber stocks 50,300 tons, adhesive inventory of 101,600 tons, a total of 358,300 tons and 354,900 tons from last month rose slightly.

By the euro zone and a sluggish economy and the impact of a stronger yen, today Shanghai rubber did not out of a technical rebound, but a significant decline, fall near the trend line directly lows hit 21700, eventually closed at 22,260 points. Judging from the managing the market, the yen may strengthen further, and thus suppress the Dong Jingjiao. The weakness of the euro-zone economy and the Cyprus problem, a short period of time will continue to haunt markets. Combined with an adequate supply of domestic stock the bonded area stocks to new highs. The estimated Shanghai rubber remain weak, to be concerned about the trend line and the 22000-point support.

Translated by Google Translator from http://market.cria.org.cn/25/13474.html

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