[Natural Rubber]: Rubber Weekly Review (June 9)

Figure 1: Shandong market price of STR20 MIX                                      Figure 2: Zhejiang market price of ordinary bulk imported from Thailand

dry rubber

This week, the rubber market pulled up again. From a fundamental perspective, there was no obvious support. More because of the hype and stimulation of the "purchasing and purchasing" incident. The increase in rainfall in major foreign producing areas has relatively alleviated the drought problem in the early stage, but it has also affected the supply of new rubber in the short term and supported the firm prices of raw materials. During the week, the utilization rate of downstream production capacity remained high. Export orders from tire companies supported the consumption of export tire raw materials. However, domestic shipments were slow and inventories rose slightly. The supply and demand side did not bring significant support to the market.

 natural latex

Downstream product companies are in the off-season of demand, have low enthusiasm for production, and have a low sentiment towards raw material procurement. However, at present, the amount of Chinese goods arriving in Hong Kong has decreased, and the circulation of imported rubber is relatively small. The selling pressure of traders stranded in Hong Kong has declined, and the reluctance to sell is strong. The bargaining space for transactions has narrowed, and downstream product companies have entered the market on dips and mainly need to buy. nbsp;

Market outlook forecast:

1、中国producing areas物候情况基本上好转，截止目前处于正常状态，后期上量预期明显；国外producing areas降雨增加，影响收胶工作，新胶明显提量尚需时间；

2、周内内销市场表现平淡，整体库存仍呈增势。预计下周期中国全钢胎开工率小幅走低；

3、青岛地区库存持续累库，库存压力以及存在；

4、国家下调人民币存款利率；美元汇率高位；收/轮储炒作再次蔓延。