Cable raw materials (rubber) weekly report (5.8-5.12)

1.
The latest data released by the US Energy Information Administration (EIA) on the 3rd showed that the decline in US crude oil inventories last week was much lower than market expectations
.
Specific data showed that in the week ended April 28, U.
S.
commercial crude inventories excluding strategic reserves fell by 930,000 barrels from the previous week to 527.
8 million barrels, a decline of 0.
2%, far lower than the previous market expectation of a decline of 2.
914 million barrels
.

2.
The opening of the "Belt and Road" Forum for International Cooperation is imminent, which is the first highest-level international forum
held in China with the theme of "The Belt and Road".
On May 10, the National Development and Reform Commission and the State Council's new office held two press conferences, during which the two ministries and commissions revealed that during the forum, all parties are expected to achieve a number of consensus and achievements
in various fields such as infrastructure projects and economic and trade cooperation.
Among them, the FTA negotiations between China and countries along the Belt and Road are expected to make significant progress
during the meeting.

Second, the analysis of natural rubber market trends