News
1. According to Indonesia, “Handelsblatt” reported by Indonesia, Thailand and Malaysia International Tripartite Rubber Council, said rubber prices continued at $ 3 / kg, rubber exports will continue to decline. The Council said that the to reduce export one of the aims is to improve the negotiating capacity in order to stabilize the international market price.
2. U.S. light-vehicle sales in February to 1.19 million, a year-on-year growth of 3.7%, compared with a few months ago, growth is slowing down. The analysts believe that oil prices, winter, and changes in the federal budget is an increase of reasons for the decline, but still optimistic.
3. Off-season by the construction industry construction of Chinese the February official non-manufacturing PMI fell to five-month low, but the data is still in the top 50 of a high level. China’s non-manufacturing business activity index fell to 54.5 in February, the chain fell 1.7 percent, to end after four consecutive months upward momentum.
Spot market quotations: the domestic market, the the latex Shanghai market quotations stabilized 24,050 yuan / ton; synthetic rubber continued weak market, Qilu Chemical City SBR market prices stabilize 17,400 yuan / ton, butadiene rubber market offer 17,800 yuan / ton.
Analysis
From a fundamental point of view, even though the calendar year in March should be the lowest global natural rubber production in the month, but the high pressure of the domestic natural rubber stocks and consumer end is not yet a significant improvement the deadlock makes Jiaojia still pressure; from the analysis of seasonal factors, on March short gotta play the point in time; from the disk, Hujiao main 1309 contract Powei 24000 points after the next pass is the previous low of around 23105 points. The days Hujiao continued weak, intraday dip the 23,720 point late in the day to close at 23,935 points. Continue to hold the operation, it is recommended that the pre-air one concern below support at 23,500 points, 23,000 points.
Translated by Google Translator from http://market.cria.org.cn/25/13176.html
