Commodity market sentiment is pessimistic rubber futures prices have fallen significantly

No.
6, NR main closing price 10990 (-225) yuan / ton, Qingdao Free Trade Zone Thai standard rubber 1665 (-30) US dollars / ton, Malaysian standard rubber 1670 US dollars / ton (-20), Indonesia standard rubber 1720 (-20) US dollars / ton
.

As of July 1: Exchange total inventory 277125 (+298), Exchange warehouse receipt 253380 (+1900).

Raw materials: raw film 58.
6 (-0.
1), cup glue 47.
8 (-0.
6), glue 52.
8 (0), tobacco film 61.
09 (-1).

As of June 30, the domestic all-steel tire operating rate was 58.
8% (-0.
31%), and the domestic semi-steel tire operating rate was 64.
6% (+1%)
.

Opinion: Fears of a global recession have led to pessimistic sentiment in commodity markets and a significant downward trend in rubber futures
.
Changes in demand expectations will continue to put rubber under pressure in the short term, coupled with the recovery of global production in the later period, it is expected that price pressure will be difficult to ease
.
In the later stage, the focus is on the substantial dematerialization
of downstream finished product inventory.
Based on the current domestic supply pressure, it is recommended to wait and see for the time being, if the domestic real economy is further affected, especially the domestic tire export demand is affected by the downturn of the overseas economy, there is still room for rubber prices to fall
.