Demand continues to be weak Rubber prices fluctuate at a low level

As of August 5: total stock on the exchange 280871 (+2422), exchange warehouse receipt 255490 (+190).

Raw materials: raw film 50.
9 (-0.
98), cup glue 46.
3 (-0.
5), glue 49.
5 (-1), tobacco film 51.
32 (-1.
93).

As of August 4, the domestic all-steel tire operating rate was 56.
72% (-1.
95%), and the domestic semi-steel tire operating rate was 64.
01% (-0.
19%)
.

Rubber inventories continued to increase slightly this week, mainly due to continued weak demand
.
Due to seasonal rainfall and high temperature weather in China, the inhibition of downstream tire factory operating rates, coupled with the impact of the epidemic in various parts of China, demand recovery is relatively slow
.
On the supply side, due to the impact of domestic rainfall, the output of raw materials in the main producing areas of Hainan and Yunnan has been affected to a certain extent, and the price of raw materials is relatively firm compared with overseas, but because the price of raw materials is in a medium-high position, it is conducive to the release of later production, and the overall supply will continue to increase
.
Before the demand can not see a significant improvement, the pattern of weak rubber supply and demand is difficult to break, but the current futures plate price has fallen below the cost of raw materials, and the non-standard price difference is also in a low position, which limits the downward space of rubber, it is recommended to wait and see
for the time being.