Supply and demand drive is still weak Rubber prices are in the repair stage

On the 10th, the main closing price of NR was 11700 (-90) yuan / ton, Qingdao Free Trade Zone Thai standard rubber 1825 (-15) US dollars / ton, Malaysian standard rubber 1820 US dollars / ton (-15), Indonesian standard rubber 1880 (-10) US dollars / ton
.

As of March 4: total stock on the exchange 251204 (+2189), exchange warehouse receipt 241220 (+3970).

Raw materials: raw film 63.
8 (+0.
07), cup glue 51 (+0.
7), glue 68.
5 (+0.
2), tobacco film 67.
7 (+0.
2).

As of March 3, the domestic all-steel tire operating rate was 57.
48% (+4.
7%), and the domestic semi-steel tire operating rate was 60.
39% (+5.
1%)
.

Viewpoint: This week, the price of synthetic rubber raw materials such as butadiene ushered in a supplementary rise, and the price difference between natural rubber and synthetic rubber is expected to reverse, driving the natural rubber market sentiment to ease
.
At the same time, from the perspective of spot, the full latex spot has been basically flat under the mixed rubber, which is conducive to the digestion of the full latex spot in the later stage, coupled with the continuous narrowing of the current RU non-standard price spread, the industrial arbitrage short position reduction brought about a low rebound
in rubber prices in the second half of this week.
Due to the decrease in port arrivals at Qingdao port last week, accumulation began to slow down, supply and demand improved slightly, and the plate price began to repair
under the extreme compression of futures prices.
However, from the current demand and the upcoming domestic opening at the end of the month, the supply and demand drive is still weak, and the plate price is only in the repair stage, and there is no driving force
for a big rise.