The rubber market may maintain a small oscillatory rebound in the short term

In the Tokyo rubber market on the previous day, market sentiment continued to improve during the resumption of work among companies across China, and the far month contract rose slightly to close above the 180 yen line on the back of short order
covering.
The previous night, higher prices in U.
S.
stocks and major commodity markets drove the Tokyo rubber market to open higher at 183.
0 yen
in early trading.

Later, China's Hubei Provincial Health Commission announced that the number of new cases increased by 14,840, which caused market panic for a while, and the dollar fell to around 109.
7 yen against the yen, weighing on the price of rubber in Tokyo to fall
again.
The official explanation for this is that among the new cases, 13,332 clinically diagnosed cases were included in the statistics, which is not an aggravation
of the epidemic.
Coupled with the transfer of officials from Hubei Province, Ying Yong, the former mayor of Shanghai, took office to preside over the fight against the epidemic
.
Thinking of the previous positive comments by US President Trump on the Chinese government in the control of the epidemic, the market sentiment has further improved
.
The higher-than-expected U.
S.
economic data released in the evening provided support
for the short-term trend of financial markets as a whole.

In terms of spot, the February FOB price of No.
3 cigarette tablets on February 13 was around 51.
94 baht, up 0.
22 baht
from the previous session.
The price of the 20-month FOB was around 48.
81 baht, down 0.
08 baht
from the previous session.
The USS spot price was around 40.
37 baht, up 0.
28 baht
from the previous session.

On the technical side, the RSS far month contract continues to attempt
at the 187 yen line shown in the medium-term benchmark after standing above the 180 yen line.
From the perspective of position changes, with the rebound of the price, the overall position decreased slightly, and the far month contract was mainly based on short position covering, and there was still greater short pressure
on the plate.
Fortunately, the medium-term baseline will remain at the level for a period of time, as long as the epidemic does not show a growth change, the Tokyo rubber market may continue to maintain a slight oscillation rebound trend in the short term, and the trading strategy of choosing to sell short on the high remains unchanged
.

The spread between the 2007 contract and the Shanghai 2005 contract (Tokyo-Shanghai) was $18/mt
at the close of trading in Tokyo on February 13.