Market sentiment eased and rubber prices fluctuated in a narrow range

As of July 22: Exchange total inventory 278925 (-1714), Exchange warehouse receipt 255240 (-590).

Raw materials: raw film 55.
5 (0), cup glue 47.
7 (-0.
2), glue 53.
2 (+0.
2), tobacco film 57.
35 (+0.
06).

As of July 21, the domestic all-steel tire operating rate was 55.
56% (-3.
73%), and the domestic semi-steel tire operating rate was 64.
77% (-0.
23%)
.

Yesterday, the price of rubber fluctuated in a narrow range, and the contradiction between supply and demand fundamentals was not prominent
.
On the one hand, supply pressure has not yet emerged, raw material prices at home and abroad fluctuate in a narrow range, on the other hand, with the easing of market sentiment, pessimistic expectations for demand have weakened
.
At present, the market is still following the logic of short-term profit repair
.
Under the easing of market sentiment, RU non-standard spreads are not widened before the repair market is expected to continue
.
However, the supply and demand drive is weak, and caution is recommended
.