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Friday, May 20, 2022

China: Bad news continued to show frequent natural rubber vulnerable

Domestically, the rubber-producing areas of Hainan, Guangdong, Yunnan partially cut open. This week in full latex rubber market turnover of 785 tons, concentrated latex turnover of 259 tons, the number of transactions of these two species compared with last week, the whole latex significantly reducing the volume, concentrated latex slight increase in the volume.Domestic rubber spot market trading was light, Qingdao Free Trade Zone Jin Koujiao stock hit a new high, storage is extremely difficult.

News, although the first quarter of automobile production and sales situation is gratifying, but the State Information Center, Information Resources Development Department Manufacturing Director, senior economist Li Weili think the second quarter, converting continuation of the 10% growth.In the second quarter, the smooth operation of the national economy, but consumer demand has been released in the earlier policy to stimulate consumer demand for cars will not be introduced in the short term.Therefore, to determine the second quarter, the automotive market gradually dull, growth will fall to below 10%.

Of HuJiao, Shanghai natural rubber futures on the whole out of the the trend of Xianyihouyang. Hujiao 1309 contract this week relative to the previous trading week, the substantial volume increase to positions substantially reduced. Tumbled disk-based, the lowest closing price of 18,725 yuan / ton, the highest closing price of 20,355 yuan / ton.

The other hand, the dollar index this week shock consolidation, the U.S. oil fell sharply after the rebound, the Dow tumbled.

Overall, the producing countries the policy interventions fail, resulting in rubber prices will be under pressure. Even if domestic demand recovery will directly face the Free Trade Zone, a large number of imported natural rubber stocks. Imports of natural rubber stocks at this stage repeatedly rise to the inventory target a long way to go.

Therefore, the short-term domestic rubber prices are influenced by many factors, natural rubber trend may be the pattern of weak shocks.

Source: http://news.cria.org.cn/4/14138.html

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