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Last week's rubber futures reversed the trend of the previous week, and after showing a volatile decline for most of the time, rubber prices rebounded
on Friday.
On February 18, the main contract of natural rubber RU2205 closed at 14310 yuan / ton, and the main contract of energy No.
20 rubber NR2205 closed at 12040 yuan / ton
on the day.
In terms of spot, the domestic full latex spot price fell back in shock, while the spot price of No.
20 rubber remained volatile
.
On February 18, the spot price of full latex in Shanghai was 13450 yuan / ton, and the spot price of full latex in Shandong was 13450 yuan / ton; The spot benchmark price of STR20 in Qingdao Free Trade Zone is 1820 US dollars / ton
.
On the supply side, Thailand's main producing areas continue to transition to a low production period, and before the domestic production areas start a new round of rubber tapping, most of the world's main natural rubber producing areas are in a state of suspension, and the supply of natural rubber will decline to the low point
of the year.
On the demand side, the recovery of tire production after the Lantern Festival has accelerated, and some tire companies have advanced their resumption time to accelerate the recovery of tire operation, and the demand performance of natural rubber is expected to increase
.
In terms of inventory, the inventory of natural rubber warehouse receipts in the previous period and the accumulation range of natural rubber inventory in Qingdao have narrowed, considering that the output of new rubber fell to the low point of the year and demand will recover, the accumulation pressure of natural rubber inventory in the later period is expected to be limited, and the absolute volume is still at a low level when rubber prices are expected to continue to be supported
.
On the whole, as the supply of production areas fell to the low point of the year and the start of rotation enterprises accelerated, the supply and demand performance of natural rubber was warm, although the overall market sentiment in the near future is still volatile, but under the support of low inventory, the space below the rubber price is limited, it is expected that natural rubber will fluctuate in the short term, and the medium-term rubber price still has upward momentum, and the recent attention is paid to the resumption of tire enterprises and inventory changes in Qingdao
.
