Natural rubber is mainly weak in the short term

The mainstream price range of the spot market is sorted out, and the downstream maintenance is mainly
on-demand procurement.
Yesterday Shanghai full latex 11800 (-50), whole milk-RU2301 spread-765 (+20), RMB mixed 11200 (-100), human mixed-RU2301 spread-1365 (-30).

From a fundamental point of view, the main producing areas of Southeast Asia have increased production significantly, the center of gravity of raw materials has continued to shift, and the price difference between Thai glue and cup glue has narrowed
rapidly.
Demand-side tire starts remained low, while high inventories did not show obvious signs of destocking, high-frequency indicators showed that terminal demand was still sluggish, and the pattern of weak supply and demand was obvious
.
At present, the absolute price of tianjiao is low, the power of long in the process of weak downward exploration is increasing, and the pattern of low volatility of the disk is difficult to change
in the short term.

On the whole, macro dominance is still strong, the international economic contraction pressure is still large, the global natural rubber supply increment is relatively clear, international demand is significantly weaker, domestic demand remains sluggish and expectations are not optimistic and other factors lead to the basic face of rubber prices still have suppression, but raw material prices fall space is small, cost support gradually emerges and continues to test downward, supply and demand weakness suppression and cost support game, it is expected that natural rubber short-term weak shock dominance
.