Spot: raw materials held steady, factory price continued to rebound to $ 50-60, but the demand flat, Chinese traders counteroffer powerful, market transactions to traders.
Tema standard rubber cargo 2860-2880 U.S. dollars turnover in 2830-2850 near. Traders active shipments, improved market sentiment, turnover is limited.
The prices have touched the lowest price in the past three years.Society still sufficient inventory and demand with sporadic small single with mining-based, some businesses still kept bearish on the market outlook is expected to synthetic rubber is still in the destocking process.
Macroeconomic news and reviews: central bank warned that if Cyprus next Monday can not be with the Troika relief to reach agreement, the Central Bank of Cyprus will be cut off to provide emergency liquidity to help. The Government of Cyprus tonight will discuss a new plan to impose a 5% deposit tax only for deposits of more than 100,000 euros.
Europe March PMI deterioration: the year the lowest in Germany, France four-year lows, fuel including British retail sales rose 2.1% in February, higher than the 0.4% expected market growth,
U.S. weekly jobless claims in the first application 336,000, four-week average fell to the lowest level in five years.
U.S. existing home sales number of households rose to a three-year high in February, March Philadelphia Fed manufacturing index 2.0, expected -3.0 -12.5 former value. March Markit manufacturing PMI initial value of 54.9, expected 54.8, the former value of 54.3. Better than expected.
March initial value of 51.7, HSBC China Manufacturing PMI hit a new high of 2 months. The first conference, New Japan’s central bank governor: monetary easing “essential”
Industry information and reviews: the data released by the Japan Automobile Industry Association, Japan car sales in February this year to 292,000, down 12% year-on-year; including mini cars following the displacement of 0.66 liters, down 8.1% year on year to 477,000. Japanese auto market since last year after six months by substantial growth to slow growth or even a step backwards this year, its market still does not hold too many expectations, expected slight recovery growth can keep up to.
Morning Hint: bearish overnight the impact of the external disk market is flooded with Cyprus message, various versions have, but for now, time is running out, and have not yet reached an agreement, the financial market pressure. Shanghai rubber yesterday’s technology and positions to see the rebound suppressed under the influence of the outer disk is expected to open lower, short-term 23,000 or will become the pressure bit positions of rebound rallies to lighten up or out, the middle empty single 23000 holds or underweight. This market is in a balanced market, the possibility of shock is too large, run the range 22200-23300. Rebound power is weak, but if the the Cyprus event does not evolve into a systemic bad, has been reduced to a new low energy.
Translated by Google Translator from http://news.cria.org.cn/4/13529.html
