The price of Shanghai rubber fluctuated and declined, and the downward adjustment was greater than in previous days

On the macro level, domestic public health events have had a wide impact, affecting the supply, circulation and sales of finished products.
Internationally, the International Monetary Fund lowered the pace of global economic growth
.

On the supply side, according to the latest ANRPC report, the global production of sky rubber in March is expected to increase by 4.
9% to 954,000 tons; among the production areas, the Yunnan production area in India is fully cut, and the output is increased, and the Hainan production area is cut at the end of April and the beginning of May, and the full rubber tapping period is entered around mid-May, and the increase is expected to be obvious
.

In terms of demand, the recent national public health events, raw materials and finished products transportation greatly affected, some provinces and cities local short-distance transportation situation has improved, it is reported that Shandong tire enterprises part of the operating rate has a short-term recovery, data show that last week Shandong tire enterprises all steel tire starting load 58.
77%, up 2.
40 percentage points from the previous week, down 17.
28 percentage points from the same period last year; semi-steel tire starting load of 67.
62%, down 0.
99 percentage points
from the previous week 。 Secondly, the decline in tire export demand, the current situation has affected the import and export trade of finished products, it is difficult to recover in the short term, domestic sales shipments are blocked, and the pressure on finished tire inventory continues to increase
.
According to a daily article issued by the Passenger Association of China, the national passenger car market was affected by the sluggish consumption in 2022, and the cumulative retail sales of the national passenger car market in the first quarter were 4.
915 million units, down 4.
5% year-on-year, and the overall trend was lower than expected; The temporary stasis loss of the automotive industry chain caused by the epidemic is huge, and the impact of the supply of secondary parts will seriously affect sales
in the second quarter.

In terms of inventory, the inventory of Shanghai rubber futures in the week of the 22nd increased slightly compared with the previous week, and the registered warehouse receipt decreased slightly; Qingdao Free Trade Zone, affected by demand, the process of natural rubber inventory destocking is slow
.

In terms of imports and exports, data showed that China's imports of natural and synthetic rubber (including latex) totaled 668,000 tons in March 2022, down 6%
from 711,000 tons in the same period in 2021.
From January to March 2022, China imported a total of 1.
861 million tons of natural and synthetic rubber (including latex), an increase of 3.
9%
from 1.
791 million tons in the same period of 2021.

The future market predicts that the global economic growth rate is expected to be lowered, domestic public health events diverge at multiple points, China's industrial product circulation system is blocked, the pressure of raw materials out of the warehouse is large, car companies in some serious areas have stopped work and production, downstream demand has slowed down, the pressure of spot finished products continues to increase, and the start of production enterprises has been blocked, and the market is expected to continue to be weak and volatile
.