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Last week, the price of Shanghai rubber futures fluctuated to the upside, with a weekly +4.
77%.
Although the macro bearish factors are still suppressed, Yunnan alternative indicators into the push up local supply, but this week in Southeast Asia, Thailand, Vietnam rainfall, to a certain extent affect the progress of rubber tapping, raw material prices stopped falling slightly, to the cost to form a certain positive support, market holders panic selling significantly weakened, natural rubber prices rose
slightly.
Recently, the overall rainfall in the main producing areas of Southeast Asia has decreased slightly, but the rainfall in most areas is in a moderately high state, which has an impact on the rubber tapping work, but on the whole, the increase in global natural rubber supply this year is relatively clear
.
Recently, Qingdao natural rubber stocks have decreased slightly, and there is a possibility of a small concentration in the short term, and it is expected that Qingdao natural rubber stocks will increase
slightly in the short term.
On the demand side, the operating rate of tire factories fell month-on-month last week, some companies arranged 3-5 days of maintenance, and some enterprises overhauled 7-10 days, the overall output of enterprises was limited, the start of work was significantly lower, and high inventory will continue to inhibit the operating level
of tire factories.
The RU2301 contract focuses on the pressure around 13000 in the short term, and should not blindly chase up
.
After the "Mid-Autumn Festival" holiday, many tire companies stored their vacation plans, and the operating rate declined
.
The current downturn in the tire market is difficult to change, and the price of raw materials is running at a low level, which weakens the support for tire costs
.
However, due to the low level of enterprise operation, the pressure on operating costs has not decreased
.
In the case of macro disturbance and weak fundamentals, the upside of the disk is limited, and it is expected to maintain a wide range of volatility in the short term
.