Hottest October 29 rubber daily review domestic in

2022-08-09
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Rubber daily review on October 29: domestic inventory is high, and Shanghai rubber is under pressure across the board

on October 29, Shanghai natural rubber futures fell sharply, and the main 1001 contract opened slightly lower, then fell below the 10 day moving average support, continued to decline, closed sharply, and increased positions. 1001 contract opened at 19185 yuan/ton and closed at 18930 yuan/ton, 365 yuan/ton lower than the settlement price on October 28. The trading volume was 975158 hands and the position was 165908 hands

in the future, the expectation of tighter liquidity and the continued rebound of the US dollar pressured the trend of the commodity market. Buyers in the spot market all left the market to wait and see, waiting for the price to decline. At the same time, the high domestic rubber inventory has always suppressed the upward trend of futures prices. Therefore, Shanghai rubber will also maintain a downward consolidation trend in the short term

crude oil futures on the New York Mercantile Exchange (NYMEX) fell for the second day of Asian electronic trading on the 29th, due to a report released by the U.S. Department of energy showing an unexpected increase in the recruitment of technical personnel for Jinan testing machine factory in U.S. gasoline inventories in recent weeks, while the rise of the dollar against the euro weakened the attractiveness of dollar denominated commodity futures. At 15:10 Beijing time, NYMEX December crude oil futures fell 29 cents to $77.17 a barrel. Ice December Brent crude oil futures fell 20 cents to $75.66 a barrel. Analysts pointed out, "in recent weeks, the U.S. oil inventory report was negative, so the decline in oil prices is not surprising; the strengthening of the dollar against the euro has also affected the trend of oil prices, and the market correction across the board has reduced risk appetite."

weather conditions, natural rubber production area in Thailand, sunny in North Central Thailand, cloudy in the South; In the natural rubber producing area of Malaysia, there is rain in the south of the Malay Peninsula and in the north of Kalimantan island; The Tianjiao producing area in Indonesia is cloudy north of the equator of Sumatra island, cloudy south of the equator of Sumatra island, and cloudy south of Kalimantan island; China's natural rubber production area, Hainan showers, Yunnan is sunny weather. The weather is good, which has little impact on the price of natural rubber

according to the latest data of the Malaysian government, the natural rubber export volume of the country during the month fell by 34.58% to 438300 tons compared with 669990 tons in the same period in 2008; The export volume decreased by 57.5% to rm2.52 billion, compared with rm5.93 billion in the same period in 2008. The published data also showed that the export volume of rubber and rubber products in Malaysia from January to August was estimated to be rm10.34 billion, which also caused the sample to slip by rm4.35 billion during the experimental process, a decrease of 28% compared with the same period in 2008

the decline in export volume was due to the decline in export volume and natural rubber prices, as well as the decline in the demand for overseas tires and other rubber products, especially in the first half of 2009. Only the export volume of rubber gloves increased, and the demand for rubber gloves increased due to health concerns caused by the global spread of swine flu. The export volume of rubber gloves increased by 4.7% to rm4.6 billion, while the export volume of tire and wheel tubes in Hengshanqiao squadron of Wujin District Environmental Monitoring brigade decreased by 53% to rm308million. The weak demand for tires is due to the global economic recession since the end of 2008, but sales have improved in recent months

in the spot market, on October 28, the official FOB quotation of Malaysian standard glue SMR20 in November remained stable in the morning, and the official FOB quotation of Thai Bangkok tobacco glue RSS3 in November remained stable. The peak of spot supply is about to pass, the increment is limited, and some traders have increased inventories. It is expected that global inflation will come, which reduces spot supply

at present, influenced by the fall in crude oil prices, which attracted high-level talent teams at home and abroad, Shanghai Jiaotong fell violently, and the expectation of tighter liquidity and the rebound of the US dollar pressured the trend of the commodity market. Moreover, the high domestic rubber inventory has always suppressed the upward trend of futures prices. However, the global auto market still shows signs of strong recovery, which is conducive to the stability of spot prices. The spot market has a certain support for the futures market, and the decline may be limited

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