Weighed down by market sentiment, rubber continued its weak trend

As of August 12: total stock on the exchange 283584 (+2713), exchange warehouse receipt 254780 (-710).

Raw materials: raw film 48.
5 (+0.
02), cup glue 45.
3 (-0.
7), glue 47 (0), tobacco film 50 (+0.
99).

As of August 11, the domestic all-steel tire operating rate was 59.
35% (+2.
63%), and the domestic semi-steel tire operating rate was 64.
44% (+0.
43%)
.

As of the end of last week, domestic port inventories continued to rebound slightly, mainly due to poor domestic demand and seasonal off-season, downstream tire factories have weak momentum for taking goods, while overseas raw materials have gradually recovered, and domestic port arrivals have gradually recovered
.
Under the pressure of market sentiment, the futures market continued to decline
.
From a fundamental point of view, spot stocks also show signs of weakness, mainly due to the drag of real demand, while domestic tire exports also show signs of
slowdown.
The contradiction of high inventory of domestic downstream tire factories still has not been alleviated, and rubber prices are expected to continue the weak trend
before there is no bright spot in demand.
However, due to the early return of the front-month contract, it is expected that the space below will be limited, and it is recommended to wait and see
for the time being.