Fundamentals
1. Spot:
Qingdao Free Trade Zone, on the spot market, Thai, Malay adhesive RMB quoted in 22400-22600 yuan / ton. Thailand, Malay 20 # adhesive Price 3080-3100 U.S. dollars / ton, Thailand 3 # smoke piece spot reference price in the 3270-3300 U.S. dollars / ton, Thailand 20 # standard plastic Reference Price in the 3080-3100 U.S. dollars / ton, Indonesia 20 # standard rubber spot price in the 3020-3030 U.S. dollars / ton.
Review: Hujiao (25515,40.00,0.16%) continued to fall adjustment makes the spot price Yindie weak market activity.
2. The World Bank Tuesday sharply lowered global economic growth forecast to 2.4% growth in developed countries under pressure because of the austerity measures, high unemployment and sluggish business confidence.
World Bank predicts global economic growth of 2.4% this year, lower than the 3% forecast in June of last year, slightly higher than the economic growth rate of 2.3% in 2012. Bank will Japan’s growth rate is expected to drop to half, cut the U.S. growth rate of 0.5% percentage points, and predicted that 2013 will be the euro zone’s second austerity years. Bank this also lowered the growth rate of the emerging countries, led by Brazil, India and Mexico.
Comments: The recovery of the global economy is still weak, the the macro risk remains.
Market commentary
Yesterday, Hujiao opened at 25480 morning mainly to the consolidation, hitting a high of 25,630 during the drag by midday stock plunge, an opening that is diving, hitting a low of 25,230, and the subsequent decline in the broader market rose, recovering closed at 25495, the days lighten up to 8960 hand to 132,226 hand.
Operating strategy
Middle market: supply slowed and the downstream stocking requirements expected the market for middle market remained optimistic about the expected adjusted to remain upstream.
Short-term market: the market down yesterday although the fast break the 25,400 mark, but then quickly regained lost ground to the short side of the market outlook is not much downside to grasp departure willingness certain profit, while below the bull care City stronger. But is still adjusted trend test, 25400 below 25000.
Of arbitrage: Hujiao the decline spot price with or Hujiao with Thai price differential widened to 3622, Hujiao with smoked sheet spread is -145, waiting Jiancang plan.
Intertemporal arbitrage: Yesterday spread is 80, the recent to maintain consolidation, No opportunities.
Translated by Google Translator from http://news.cria.org.cn/4.html
