Shanghai rubber continue to focus on points below support

1. Natural rubber futures

Dong Jingjiao rebound, the main contract 1408 closing 225.8 yen, up 1.1 yen the previous day, closing 7039 hands.

Shanghai extended losses to new lows, the main RU1409 contract opened 14,975, the lowest 14,470, up 15,000, closing 14,695, down 250 points over the previous day, the settlement in 14675. 654,724 transactions a day, hand positions increased to 218 304 8348 hand hand.

2. Market valuation statistics

Buying Rally Continues, Kse 100 Gains Over 2,000 Points

Product	March 3 Price	March 4 Price	Change	Price Change	Unit
Yunnan state full latex	14100	13900	-200	-1.42%	Yuan / ton
Thailand 3 # Yan Pianjiao	14700	14500	-200	-1.46%	Yuan / ton
Vietnam 3L glue	14600	14600	0	0.00%	Yuan / ton
Thailand 20 # standard rubber	1840	1820	-20	-1.09%	USD / ton
Thailand 20 # standard rubber compound	1840	1820	-20	-1.09%	USD / ton

Shanghai 1409 contract is not formed in the vicinity of 15,000 consolidation trend continues today after yesterday fell continue to decline, and the intraday hit a new low. The spot, by the impact of the decline in futures markets continue to offer lower, due to the current tight supply market 3L offer is still high. Factories, demand procurement, watching the atmosphere fell disk obvious intention recent margin call is not high. Currently USD disk offer slightly confusing, heard part of the supply and storage supply in Hong Kong last year turnover is low.

3. Rubber network pending, transaction prices

Trading floor	Product	Time	Pending order quantity (tons)	Price (yuan / ton)	Volume (tons)	Price (yuan / ton)
Yunnan	SCRWF / full latex	Morning	–	–	–	–
Yunnan	SCRWF / full latex	Afternoon	–	–	–	–
Yunnan	SCR5 / 5 # standard plastic	Morning	–	–	–	–
Hainan	SCRWF / full latex	Morning	–	–	–	–
Hainan	SCRWF / full latex	Afternoon	–	–	–	–

4. International natural rubber outer disk

Product (April / May shipment)	Today’s price ($ / ton)	Change ($ / ton)
Thailand 3 smoke RSS3	2170-2200	0-0
Thailand 20 standard rubber STR20	1920-1950	10-10
Thailand 20 standard plastic composite	1920-1950	10-10
Malay the 20th standard rubber SMR20	1910-1940	10-10
Malay 20 standard plastic composite	1910-1940	10-10
Indonesia 20 standard rubber SIR20	1860-1890	10-10
Vietnam 10 # standard rubber SVR10	1870-1900	0-0
Vietnam 3L glue SVR3L	2110-2140	0-0
Roundup: Shanghai rubber futures continued to drop, but Dong Jingjiao today slightly upward, and Thailand upstream raw material market today offer a slight upward outer disk, but the domestic fixing cautious Shanghai new lows due to lack of buying interest and factories.

5. Natural rubber in the domestic market

Although Dong Jingjiao rose slightly today, but did not play a lead and support for Shanghai role declining trend continues today Shanghai main contract 1409 another 14,470 new low, although near the late decline narrowed, but today disk decline is still large. Spot market for 1403 and 1405 contract offer disk-based, businesses today offer decline, factory limited buying interest, a larger market shipments pressure. As of the morning, I heard a wholly state-owned Yunnan latex reference quoted in 13900-14400 yuan / ton, Hainan state whole milk 13900-14200 yuan / ton; Yunnan standard two plastic reference quoted in 13600-13700 yuan / ton; Thailand 3 # smoke film offer between 14500-15000 yuan / ton, Vietnam 3L offer at around 14300-14800 yuan / ton; imported bottled latex spot market reference price at 11200-11400 yuan / ton (17% of the votes).

Qingdao Free Trade Zone	Today’s price ($ / ton)	Change ($ / ton)
Thailand 3 # smoke film	2150-2180	0-0
Thailand 20 # standard rubber	1830-1860	20-0
Thailand 20 # standard rubber compound	1830-1860	20-0
Indonesia 20 # standard rubber	1800-1810	0-0
Malay 20 # standard rubber	1830-1860	20-0
Malay 20 # standard rubber compound	1830-1860	20-0
Roundup: external disk market slightly upward, offer little support to the region, but the offer is still stable and slipped, heard about yesterday’s stock has traded at $ 1,800 / ton. Currently quoted at around RMB composite 12,400 yuan / ton. Tire plant to maintain demand procurement model-based, large recent Bonded supply pressure.

6. Comprehensive analysis and forecast

News:

1, the CPPCC National Committee, China’s central bank governor Zhou Xiaochuan said Tuesday that the recent changes in exchange rates fluctuations are normal and that it would not ban the balance of treasure, treasure and other financial services for the balance of regulatory policies will be more perfect.

2, Monday, Draghi speech, including content Ukrainian problem, the problem of bank loans, the rate of inflation, the European Central Bank policy tools. European Central Bank policy meeting will be held on Thursday, Draghi for possible action is not given implied. Bloomberg News survey of 54 economists, 14 of whom believe the ECB may take action to cut interest rates on Thursday.

3, after China’s central bank from the financial system, further return of liquidity, China’s money market rates rose on Tuesday. Above that China’s central bank intends to continue to rise in interest rates to curb by directing high-risk loans to promote economic restructuring.

4, the RMB is on declining copper and other commodity prices a shock. Some investors believe that the RMB exchange rate decline will force Chinese manufacturers to reduce imports of copper, oil and other raw materials.

Recent central bank continued to tighten liquidity repurchase, and devaluation under this influence may affect the price and bulk imports of late merchant. The spot, heard the recent arrival of supply and there is more selling pressure, while the FTZ inventory is full, the supply continues to put pressure on the disk; decline in the face of the disk, the factory’s demand for more purchasing options to watch, the existing high inventory will take time to digest. Currently negative factors still dominant, still continued to decline Shanghai space, the main contract concerns the recent two points 14500 and 14000 support.

Translated by Google Translator from http://market.cria.org.cn/25/19497.html