Rubber prices continue to fall, and macro faces the impact of prices

The increase in domestic raw materials has led to the recent recovery of exchange inventories
.
The supply side generally showed an increase momentum, but due to the stunted pace of arrivals, the pressure reflected in domestic port inventories was not large
.
Domestic downstream demand is weak, but due to the seasonal peak season, the overall weakness is mainly stable, and the recent entry of domestic index rubber has also put pressure
on spot prices.

In August, the domestic automobile and tire production situation was not satisfactory, and weak demand was the main reason
for the continued bottoming of rubber prices.
Of course, the rubber production area has entered the peak season of rubber tapping, and the supply pressure from the upstream cannot be underestimated
.
However, affected by high sea freight rates and container tensions, the import of foreign rubber from May to August is also relatively low, and the market expects that the arrival volume will not increase significantly in September, and it may only recover
significantly in October.

From the perspective of the international market, automobile production is constrained by the shortage of chips, and this situation will not change
in the short term.
In addition, the repeated epidemic and the possibility that the Federal Reserve will adjust its easing policy, the macro is also under pressure
on the price trend of Tianjiao.
In the later stage, it is expected that the peak season of gold nine silver and ten can boost the demand
for automobiles and tires.