Supply and demand drive is weak Rubber prices have greater upward resistance

As of July 29: total stock on the exchange 278449 (-476), exchange warehouse receipt 255,300 (+60).

Raw materials: raw film 54.
68 (+0.
69), cup glue 46.
8 (-0.
25), glue 51.
7 (-1), tobacco film 56 (+0.
12).

As of July 28, the domestic all-steel tire operating rate was 58.
67% (+3.
11%), and the domestic semi-steel tire operating rate was 64.
2% (-0.
57%)
.

Dragged down by demand, the spot price of mixed rubber has recently shown signs of weakening, resulting in a slight widening of the RU non-standard spread, and the spread between mixed rubber and butadiene has also weakened
.
Recently, raw material prices in Thailand have generally continued the downward trend of peak season, but there is still rain in the production area, and raw material prices may fall or interfere, but the downward trend will continue
.
At present, the price of rubber has fallen into a low range, and the domestic market has fallen below the cost of raw materials, and the later period mainly focuses on the downward space
of domestic and foreign raw materials.
Under the weak supply and demand drive, the upward resistance of rubber prices is large, and there is uncertainty in the space below, because the main production areas in August may also have a certain impact on short-term output due to the impact of rainfall and typhoons and other climates, it is recommended to wait and see
for the time being.