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In March, natural rubber continued to be weak and volatile
.
On March 4, the main contract of Shanghai rubber opened at 13,950 yuan / ton, settled at 13,760 yuan / ton, the highest price was 13,980 yuan / ton, the lowest price was 13,625 yuan / ton, and the closing price was 13,725 yuan / ton, down -1.
93%
from the previous trading day.
In terms of macro, affected by the geopolitical factors of Russia and Ukraine, international crude oil soared, the energy and chemical sectors rose sharply, and the rubber shock was weak
.
In March, natural rubber continued to be weak and volatile
.
On the supply side, global supply will be at the lowest point of the year, and the production reduction period in Southeast Asia will be accelerated by rainfall and flooding; The weather in China's production areas is normal, and the industry expects that the cutting time will be advanced; On the demand side, due to the epidemic and the shortage of automotive chips, the automotive industry continues to be sluggish, the annual operating rate of tire companies has rebounded month-on-month but decreased year-on-year, and so far in response to the Winter Olympics, the two Paralympic Games and other policies in terms of environmental protection requirements, tire companies to start and resume production has been affected to a certain extent, especially the production near Beijing-Tianjin-Hebei is greatly affected, the current downstream procurement of natural rubber has not yet started on a large scale, demand is weak, the market is weak
.
In terms of inventory, Qingdao's inventory continued to increase, the data showed that the total local inventory was 438,500 tons, an increase of 36,000 tons or 8.
94% over the previous period.
Overall, the conflict between Russia and Ukraine continues, and the sharp rise in international crude oil is expected to continue
.
At present, the global natural rubber supply is at the lowest point of the year, but under the influence of multiple factors, the automotive industry is sluggish, superimposed on environmental protection impact, tire companies are affected by the resumption of production, and domestic spot inventory continues to accumulate, the market upward momentum is continuously suppressed, the degree of demand improvement determines the trend of tianjiao, the current market is more likely
to be weak.
