echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > May 10 Shanghai rubber morning review

    May 10 Shanghai rubber morning review

    • Last Update: 2022-12-02
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Overnight market: affected by domestic black commodities and the futures index fell sharply again, negative sentiment continued to ferment and led to many confidence fell into the trough, Shanghai rubber futures also showed an accelerated downward momentum, Shanghai rubber main 1609 contract rebound weak, by the upper 5-day moving average counterpressure and continued to test, successively lost the 40-day and 60-day moving average support, the lowest futures price fell to 11685 yuan / ton line, although the end of the slight rebound to recover the 60-day moving average, but the overall decline is still large, By the close, the Shanghai rubber 1609 contract fell sharply by -4.
    11% or -505 yuan / ton
    .

    Shanghai rubber

    Spot market: the 14-year quotation of state-owned whole milk in the Shanghai market is about 11250 (-350) yuan / ton; Vietnam's 3L quotation is at 12200 (0) yuan / ton; 15 years Thailand No.
    3 tobacco tablets 12600 (-100) yuan / ton; RMB mixed rubber 11150 (-50) yuan / ton
    .
    Thai Hat Yai raw material market raw film 60.
    59 (0) baht/kg; Tai San Tobacco Tablets 64.
    79 (0) baht/kg; Field glue 61.
    5 (0) baht/kg; Cup glue 49 (0) baht/kg
    .

    News side: 1.
    General Administration of Customs: China imported 500,000 tons of rubber in April, an increase of 43%
    year-on-year.
    2.
    The Indonesian Tire Association plans to boycott imported tires and attract foreign investors to build factories
    .

    Warehouse receipt inventory: Exchange warehouse receipts reported 274,550 tons, an increase of 1,170 tons
    .

    Localized rainfall in Thailand and slight
    easing of dry weather.
    At present, the inventory of Qingdao Free Trade Zone is still declining, but the decline has narrowed
    .
    Downstream tire factories have been compressed due to the rise in raw material prices, and the operating rate of semi-steel tires has declined
    .
    In May, with the domestic rubber production area has been cut one after another, the supply and demand of raw materials is tight or eased, but the supply of the production area has not yet been released, the positive factors remain, and the fundamentals do not support the futures price to continue to fall sharply, so the 1609 contract recommends paying attention to the 60-day moving average support, it is not suitable to continue to chase the short, you can try the light position bargain buying operation
    .

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.