Fundamentals remain weak Rubber raw material prices continue to decline

Ingredients: raw film 46 baht/kg (-0.
8), cup glue 36.
55 baht/kg (0), glue 44.
5 baht/kg (-0.
6), tobacco film 47.
04 baht/kg (-0.
96).

As of 10.
28: Exchange total inventory 312807 (+267), Exchange warehouse receipt 292020 (+5450).

As of 10.
27, the domestic all-steel tire operating rate was 47.
64% (-4.
5%), and the domestic semi-steel tire operating rate was 55.
34% (-9.
43%)
.

Opinion: With the Fed's rate hike landing, the market tends to calm down, short-term commodity movements or more return to fundamental factors
.
Rubber fundamentals are still relatively weak, Thailand's main producing areas due to the arrival of the peak season, raw materials continue to decline, domestic raw material prices also show a downward trend, rubber cost support gradually declined, RU plate delivery profit has also been repaired
with the rebound of futures prices.
Due to the gradual increase in supply in the later period, the loose pattern of rubber supply and demand is difficult to reverse
.
At present, the absolute price of rubber is in the low range, under the easing of the market atmosphere, there may be room for upward repair in the short term, it is recommended to wait for the opportunity to rebound and sell short
.