Market demand is less than expected Rubber prices are still under pressure

On the 10th, the main closing price of NR was 12015 (+105) yuan / ton, Qingdao Free Trade Zone Thai standard rubber 1852.
5 (+10) US dollars / ton, Malaysian standard rubber 1845 US dollars / ton (+20), Indonesian standard rubber 1895 (+15) US dollars / ton
.

As of January 28: total stock on the exchange 245836 (+1962), exchange warehouse receipt 228700 (+2290).

Raw materials: raw film 59.
33 (+1.
22), cup glue 49.
7 (+0.
2), glue 61.
3 (+1), tobacco film 63.
66 (+1.
11).

As of January 27, the domestic all-steel tire operating rate was 20.
15% (-31.
98%), and the domestic semi-steel tire operating rate was 39.
98% (-15.
03%)
.

Opinion: The recent continuous increase in port arrivals has made domestic port inventories continue to accumulate, basically in line with market expectations, and it is expected that the accumulation will continue until the end of
February.
Because the downstream has not yet fully resumed work, the actual demand is still in the seasonal off-season, but the market atmosphere is warmer, and the expectation of the later period is significantly improved, and the slightly stronger NR trend this week also indicates the market's optimism
about the recovery of demand in the later period.
Thailand's main production area is in the rubber tapping off-season, the overall raw material output is limited, the price of raw materials began to rise at the beginning of this month, the current tobacco film rubber converted to the domestic plate price has reached more than 15,000 yuan / ton, rubber cost support is strong
.
It is expected that short-term rubber prices will maintain a strong shock pattern, focusing on the resumption of work in the later stage, if demand is less than expected, rubber prices will still be under pressure under
the acceleration of accumulation.
It is recommended to be shorter
.