Market sentiment continues to be weak Rubber prices weakened again

As of August 26: total stock on the exchange 286882 (+2829), exchange warehouse receipt 261460 (+2800).

Raw materials: raw film 48 (-0.
18), cup glue 43.
25 (-0.
25), glue 48.
2 (+0.
2), tobacco film 50.
02 (-0.
08).

As of August 25, the domestic all-steel tire operating rate was 58.
63% (+1.
82%), and the domestic semi-steel tire operating rate was 61.
66% (+0.
33%)
.

As of the end of last week, the domestic Qingdao port inventory continued to accumulate slightly, mainly because the domestic downstream demand did not change much, tire factories maintained rigid procurement, and the outbound rate was difficult to improve
.
Under the concern of the domestic epidemic, the market atmosphere continued to be weak yesterday, and rubber prices weakened again, especially NR prices continued to hit new lows, or mainly related to
weaker overseas demand.
From the fundamental data, the continued weakening of Indonesian rubber and Thai blend reflects the slowdown in overseas tire demand, making NR more
pressured.
In the medium term, under the supply of peak season, raw material prices still have room to fall, and the pattern of weak demand will be difficult to reverse in a short time, and it will take time for downstream tire factory finished product inventory to be destocked, and the loose pattern will continue
.