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Friday, May 20, 2022

Rubber bearish sentiment is still strong

[Fundamentals]

1, Spot market: Qingdao Free Trade Zone, Thailand, Malay adhesive RMB quoted at 17,500 yuan / ton, U.S. $ glue, Malaysia and Thailand on the 20th composite quotation mark rubber in 2430 U.S. dollars / ton, Qingdao Free Trade Zone, Thailand 3 smoke film stock reported 2680-2700 U.S. dollars / ton, Thailand, Malaysia 20 standard spot price of 2430 U.S. dollars / ton, Indonesia 20 standard spot price in 2350 U.S. dollars / ton.

Comments: futures finished lower impact, downstream plant demand procurement market trading atmosphere is dull.

2. The more relevant statistics, a quarter of this year, Vietnam total exports of 189,700 tons of natural rubber, earning $ 509 million, down 18.8%. The main import markets are China (9.35 million tons, accounting for 49.2%); Malaysia (3.19 million tons, accounting for 16.8%); India (7560 tons, accounting for 3.9%).

Comments: Vietnamese rubber exports decrease reflects the decline in the overall market demand.

[Market Review]

Yesterday, Shanghai rubber opened at 19320, opening soon hitting a high of 19340, and then all the way down, after midday, led by copper, has fallen sharply, closing before hitting a low of 18580 to close at 18615, days Masukura 10612 hand to 171022 hand.

[Operation Policy]

Short-term market: current bearish sentiment is still strong, the market is short-term rebound is difficult to maintain, in the the constantly new bad case, the rubber is also due to the fundamentals of the disadvantaged and more vulnerable to short funds suppress, but is capable of penetrating below the space is limited, pay attention to the bottom of the compaction process. Operation, attention to the protection of the profit position down the process, should not chase empty, temporarily avoid long, waiting for the entry signal.

Translated by Google Translator from http://news.cria.org.cn/4/14108.html

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