Rubber futures prices rushed back down due to loose fundamentals

Ingredients: raw film 44.
22 baht/kg (0), cup glue 37.
85 baht/kg (0), glue 44 baht/kg (0), tobacco film 47.
44 baht/kg (+0.
42).

As of 11.
11: Exchange total inventory 321864 (+4617), Exchange warehouse receipt 297570 (+860).

As of 11.
10, the domestic all-steel tire operating rate was 50.
99% (+10.
02%), and the domestic semi-steel tire operating rate was 58.
97% (+5.
08%)
.

Rubber futures prices rushed back down, subject to loose fundamentals, and the rebound was weak
.
Recently, due to the cold weather in domestic production areas, the dry content of glue has declined, and the production of some concentrated milk has stopped, coupled with the continuous compression of concentrated milk profits, which will lead to the recovery of domestic whole milk production in the later period and suppress
the price of RU plate.
NR is still profitable due to imports, and the supply pressure will gradually increase
in the later period under the overseas peak season.
At present, RU mainly takes the logic of warehouse receipts, and the total warehouse receipt pressure of RU01 contracts is less
after the cancellation of the old rubber warehouse receipt.
In the later stage, due to the seasonal increase in global supply and weak demand, it is difficult to change
the loose pattern of rubber supply and demand.
It is recommended to wait and see
for now.