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On the last trading day of April, the domestic commodity futures market closed, the overall plate with crude oil driven by the strong, the intraday closing decline varieties, and the decline was small
.
Rubber as a whole seems to be obviously weak in the market, the shock continues to fall, the general trend due to the pressure of the 60 line down the market is unable to turn around, in the short term rubber shock center of gravity down obviously, it is expected that there will be a break downward trend to continue the downward trend
.
Fundamentals, at present, the global natural rubber market is relatively sluggish, natural rubber prices are in the "bottom area, weak shock" pattern, rubber futures were also affected by the crude oil market trend down, but the second quarter of natural rubber supply and demand pattern will undergo some changes
.
In the second quarter, with the effective control of domestic public health incidents, the domestic economy gradually recovered, trade volume and factory resumption of work in an orderly manner, according to relevant data, as of April 16, 2020, China's all-steel tire operating rate rose to 63.
86%, and semi-steel tire operating rate rebounded to 62.
03%.
In addition, under the new round of monetary easing and various policy stimuli of the global central bank, as well as the introduction of automobile stimulus policies by the State Council of China, and the introduction of automobile stimulus policies by local governments such as Guangdong, will further stimulate domestic automobile consumption, the gap between rubber supply and demand in the second quarter may be smaller, providing support for its prices
.
Technically, rubber continues to fluctuate low during the day, the overall recent is quite light, short-term expectations will be carried out for a second step, forming a W-shaped bottom, the upper 40-day moving average pressure is obvious, the recent 10100--9500 range operation
.
