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Wednesday, May 25, 2022

Weak demand constrained within a narrow range of natural rubber

Sluggish domestic demand and overall supply is still sufficient to take the goods resistance is still large, prices are low volatility. In addition, alternative synthetic rubber prices fell again, under the constraints of the weak demand, bears still abundant, are obvious constraints on natural rubber. Currently full latex adequate supply, and poor domestic demand, receipts registered pressure is still large, the coming months will face 13 years in full latex entire warehouse, supply pressure significantly, while demand is low, the new high-priced goods to go to poor gum . Technically obvious support short-term bottom, but the upside resistance is large, the market is expected to remain rangebound within the main trend.

Market review

1, Shanghai Rubber Review

Last week Hujiao overall low shock consolidation, the lack of financial concerns, limited overall market volatility, the fundamentals adequate overall supply, demand remained sluggish performance more prominent, while the subject under technical pressure up greater resistance.

2, on plastic Review

Japanese rubber contract closed at 223.5 yen / kg, down from Friday 5.7 yen / kg.

Stock market

Rubber producing areas in the country due to the recent rain which affects more tapping work progressed, market supply and continue to reduce pending order volume is limited. In the current market sentiment confused shadows, or spot market is expected to maintain the shock consolidation trend will continue.

This week the market price of natural rubber, the RMB narrow lower, primarily due to the impact Hujiao high callback, in which all varieties of milk and smoked sheet delivery up significantly, much of Vietnam 3L 3L adhesive glue and the spot market, the price is relatively defensive. Learn from the market, the recent inquiry 3L rubber market heating up the atmosphere, but Huojin turnover is limited, other varieties of trading in general. Consider the needs of downstream flat high turnover there is resistance, the low-end of the main talks. In addition, this week, adhesive concern, June 4 National Standards Committee members will be invited to a portion of the relevant units AQSIQ discussion, re-listen to the views on the implementation date of the new standard adhesive. As of now, not yet have the latest announcement. Today, more discussion is to listen to all intent, as to whether or extension still waiting for the implementation of the State Council for approval. This week outside the disk adhesive market prices basically steady rising trend, although the Japanese rubber smoked sheet by Thursday, dragged down Hujiao fell slightly in, however due to tight supply still in state dollars to maintain the overall adhesive rebound. Also heard some people in Thailand plant reflects the current low level of processing plant as a whole, due to raw material supply small, limited output. Since July adhesive with approaching implementation of new standards and meeting Thursday on the new adhesive standard implementation time of convening the industry in general to wait and see, wait for news guidelines. Also heard that Vietnam’s open cut areas delayed, supply of raw materials as a whole is limited and pre-sale of more cargo, so the current production mainly used for the delivery of pre cargo. III Expectation sluggish domestic demand and overall supply is still sufficient to take the goods resistance is still large, prices are low volatility. In addition, alternative synthetic rubber prices fell again, under the constraints of the weak demand, bears still abundant, are obvious constraints on natural rubber. Currently full latex adequate supply, and poor domestic demand, receipts registered pressure is still large, the coming months will face 13 years in full latex entire warehouse, supply pressure significantly, while demand is low, the new high-priced goods to go to poor gum . Technically obvious support short-term bottom, but the upside resistance is large, the market is expected to remain rangebound within the main trend.

Translated by Google Translator from http://market.cria.org.cn/25/28154.html

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