The rebound of rubber prices is more obvious, mainly short-term temporary wait-and-see

As of September 9: Exchange Total Inventory 289717 (+927), Exchange Warehouse Receipt 261010 (-1260).

Raw materials: raw film 45.
55 (-0.
33), cup glue 38.
9 (+0.
1), glue 45.
5 (0), tobacco film 47.
41 (+0.
32).

As of September 8, the domestic all-steel tire operating rate was 54.
01% (-4.
04%), and the domestic semi-steel tire operating rate was 61.
94% (-0.
47%)
.

Driven by the market atmosphere, the price of rubber futures rebounded more obviously yesterday, but from a fundamental point of view, there is no support
for the time being.
On the supply side, with the reduction of rainfall in Thailand in the later period and the current raw material price level is still at the intermediate level, it is conducive to the increase of production in the later period, and the domestic raw materials continue to be weak, reflecting the maintenance of the supply situation in the peak season
.
On the demand side, the actual domestic demand is still biased, under the high finished product inventory, the raw material stock of domestic downstream tire factories is not active, overseas due to the Fed's interest rate hike process has not changed, the later demand may continue to decline, domestic tire exports or usher in a high decline
.
Therefore, the futures market showed a rebound pattern of reducing positions, RU accompanied by the reduction of net short positions, short-term short pressure slightly slowed down, but RU non-standard price spread also gradually expanded, paying attention to the new pressure
brought by industrial arbitrage in the later period.
Under the lack of improvement, there are still concerns about weakening supply and demand in the middle line in the later period, and the short-term temporary wait-and-see is the mainstay
.