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After several days of rally, yesterday began to reduce positions, mainly because the early bulls took profits and left the market, so that Shanghai rubber touched the upper resistance level and then fell back, but the night trading still performed
firmly.
Affected by the futures market, spot prices have also been significantly boosted, and the increase has begun to increase, but the actual transaction performance is still flat, and the rise in successive days has also begun to make the market's replenishment behavior begin to become cautious, and the market transaction is still based on just demand
.
The price of US dollar rubber in the external market continued to rise, and the increase was more obvious, and the recent impact of the suspension of cutting factors in foreign production areas, the performance of US dollar rubber was relatively firm; As a result, the price difference between internal and external has widened recently; Thai raw materials continued to maintain an upward trend, and the rally remained strong
.
The overall spot market price is still strong, which provides good support
for futures prices.
From the perspective of the top 20 main positions, net short is still dominant, but the rise of consecutive days makes the bears retreat obvious
.
From the perspective of comprehensive supply and demand, due to seasonal factors, the supply of new rubber in March will be further reduced, but because the problem of high inventory continues, the pressure on the near-month contract is still relatively large
.
February's improvement in heavy truck data also boosted market confidence, as far as March's heavy truck data is concerned, there is still the possibility of improvement, mainly this year there are still a lot of domestic fiscal stimulus policies this year is also the time of weather speculation, so in the absence of downstream consumption continues to deteriorate in the situation, and even see a little light, there are still some positive factors in March, so March due to seasonal supply contraction, rubber prices still have support, it is recommended that investors treat with more volatile ideas, There are many positions that continue to be held
.
