Rubber fundamentals have not changed much, and the decline in market prices has been limited

As of December 31: total stock on the exchange 230855 (+2800), exchange warehouse receipt 208410 (+1820).

Raw materials: raw film 53.
55 (0), cup glue 47.
05 (+0.
4), glue 52.
8 (+1.
3), tobacco film 57.
8 (-0.
13).

As of December 30, the domestic all-steel tire operating rate was 61.
72% (-2.
14%), and the domestic semi-steel tire operating rate was 63.
7% (-0.
05%)
.

As the downstream enters the off-season, especially domestic tire factories are expected to begin to reduce load in the middle of this month, short-term weak demand will put rubber prices under
pressure.
Therefore, as of the end of last week, domestic port inventories continued to degrade, but the decline slowed down, the current problem of shipping schedule delay has not been significantly solved, and the market generally expects that the inflection point of accumulation will be after
the domestic Spring Festival holiday.
At present, the fundamentals of rubber have not changed much, the supply pressure is not large, the reality of demand is weak and the expected improvement in demand after the year will make the price of the plate fall limited, and the middle line is expected
to rise.
It is expected that the price will maintain the oscillatory pattern of the upward shift of the center of gravity, and it is recommended to buy the dip strategy
.