The loose pattern of supply and demand limits the rebound space of rubber prices

Ingredients: raw film 44.
8 baht/kg (0), cup gum 38.
2 baht/kg (+0.
5), glue 44.
1 baht/kg (0), tobacco film 46.
69 baht/kg (-0.
31).

As of 11.
18: total stock on the exchange is 328280 (+6416), and the warehouse receipt is 299830 (+2260).

As of 11.
17, the domestic all-steel tire operating rate was 61.
56% (+10.
57%), and the domestic semi-steel tire operating rate was 67.
59% (+8.
62%)
.

Opinion: The recent rainfall in the production area continues to lead to strong raw material prices, especially in the domestic Hainan production area
.
Futures prices continued to fluctuate strongly, RU mainly due to the increase of warehouse receipts limited support, while NR due to the small amount of domestic price imports in the early stage, short-term supply pressure is not large, domestic inventories show a slight accumulation
.
With the gradual increase of domestic imports in the later period, it is expected that the inventory recovery will further increase
.
Domestic rubber is nearing the end, the domestic Yunnan production area is expected to stop cutting at the end of this month, Hainan will also stop cutting at the end of December, the domestic rubber supply increment is limited, the support for RU is strong, but the loose supply and demand pattern limits the rebound space
of rubber prices.