The end of quantitative easing by the Fed is expected to strengthen the impact of monetary policy in Dong Jingjiao fell across the board, and Singapore were closed plastic backdrop, the 24th Shanghai rubber weaker shocks, the main contract closed at 19,360 yuan to RU1309, down 2.07 percent. The total turnover increased by 7.1 million to 89.1 million hand-hand, hand positions net reduction of 0.5 million to 23 million hands, empty square incremental funding positions to suppress the spread, triggering stop-loss liquidation of long initiative. The previous day the contract had tumbled 5.23 percent.
Supply side, domestic Qingdao rubber stock reached 36 million tons, Shanghai rubber futures inventory, warehouse receipts registrations continued to increase and reached 12 million tons and 8.7 million tons, the two reached a total of 48 million tons of inventory inventory pressure is still increasing.
Meanwhile, China imported a large number of natural rubber in Thailand, although the composition of the international rubber market bullish, but in turn also constitutes bad domestic rubber market, therefore, may be weaker than the surrounding gum Shanghai rubber city, the rebound will be relatively weak.
In addition, the current time when the domestic natural rubber producing areas tapping season, producing no reports of major natural disasters, the seasonal increase in natural rubber supply, stock pressure was significantly increased, the spot price will be a seasonal decline.
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Although the Thai government will remain about 20 million tons of rubber stocks a range of interventions on the natural rubber market policy measures, will produce natural rubber market bullish supporting role, but once the release of the inventory, turn on the natural rubber market constitutes bad repression.
Thailand, Indonesia and Malaysia reduction measures up to 300,000 tons will be exported until the end of May this year, the three countries will stop the implementation of relevant measures, which would constitute a heavy rubber bad.
River, China as the world’s largest tire producer, rubber industrial output this year will be more than 960 billion yuan, an increase of 15% of the national tire production will reach 490 million, an increase of 4%.Meanwhile, China is also the world’s largest exporter of automobile tires, from 2002 to 2012, China maintained an average annual export volume of automobile tires more than 40% growth rate. But at the same time, China has suffered frequent multinational tire on the export of anti-dumping policy of repression. While its main reason is China’s tire products and developed different grades. Tire companies in developed countries focus on high performance, high value-added high-end tire manufacturing, unwilling to production of low value-added tires. Therefore, developed countries have to import large quantities of low-margin tires in order to meet the market demand. Tire business habits puerile, in order to win. Tire companies in developed countries occupy the high-end tire market, companies can develop their own brand of low-end tire market, low tire excess capacity can only be exported to digest, to meet foreign market demand for a large number of low-end tires. Because tire technology content is not high, the brand is not loud, there is substitutability, low prices, coupled with product quality varies greatly, export disorder, so tire exports suffered frequent foreign anti-dumping.
Anti-dumping, countervailing and other trade event after another, the tire industry is facing the pressure of international trade friction continues to increase.
Translated by Google Translator from http://market.cria.org.cn/25/14726.html
