The weak domestic supply and demand have suppressed rubber prices

As of January 7: total stock on the exchange 234800 (+3945), exchange warehouse receipt 215510 (+7100).

Raw materials: raw film 53.
77 (-0.
38), cup glue 47.
15 (+0.
1), glue 51 (-2), tobacco film 57.
79 (-0.
11).

As of January 6, the domestic all-steel tire operating rate was 52.
03% (-9.
69%), and the domestic semi-steel tire operating rate was 60.
05% (-3.
65%)
.

At present, the domestic supply and demand pattern is weak, the main domestic production areas have entered a comprehensive stoppage, it is expected that the increase in warehouse receipts corresponding to RU in the later period is limited, and the pressure on warehouse receipts on the plate is gradually slowing down
.
Coupled with the delay in the domestic arrival volume, the inflection point of domestic port inventory accumulation has not yet arrived, and the domestic supply pressure is limited
.
On the demand side, due to the recent domestic epidemic repeatedly superimposed demand off-season, the replacement market demand is weak, and close to the Spring Festival holiday, domestic tire factories are expected to begin to reduce the load in the middle of this month, short-term weak demand will suppress
rubber prices.
Based on the domestic macro easing forecast, it is expected that the improvement in rubber demand after the year will make the decline in plate prices limited, and there is an expectation
of rising in the middle line.