The hottest China may increase the purchase of rub

2022-08-06
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China may increase purchase of rubber spot

Shanghai natural rubber futures contract rose 1.12% in early trading on May 8. The European summit has not yet achieved a positive result by switching from stress speed to strain speed at the end of the elastic period. However, China may continue to reduce the reserve after a period of time, which will lead to optimism and bring errors to the equipment. The expectation of Chinese traders to increase spot procurement boosted Asian spot. The rubber market is getting rid of the downturn

On the 7th, the January crude oil contract on the New York Mercantile futures exchange fell. EIA data showed that distillate oil inventory increased by 2.53 million barrels, gasoline inventory increased by 5.15 million barrels, and oil inventory increased more than expected, putting pressure on the crude oil market. The pessimistic comments from Germany and the new data that exposed the increased pressure on the European banking industry have undermined the financial markets' hope that this week's summit will become a turning point of the European debt crisis. However, the crude oil market remains at a high level, and the Middle East tension and the European summit are likely to achieve greater results, limiting the decline. The decline of crude oil will cut the cost of synthetic rubber, which is unfavorable to the natural rubber market

weather conditions: natural rubber production area in Thailand, sunny and cloudy in North Central Thailand and cloudy in South Thailand; Malaysia production area, rainy in the south of the Malay Peninsula, cloudy in the north of Kalimantan island; In Indonesia, there is rain in the north of Sumatra island equator, rain in the south of Sumatra island equator, and cloudy in the south of Kalimantan island; China's production area, Hainan cloudy, Yunnan light rain. Recent weather has little impact on rubber cutting production and transportation

in the Asian spot market, the price rose the previous trading day. A Singapore trader said that the current market looks very strong, and the rubber price rebounded after the recent decline, but it is difficult to predict its future trend. He said the demand of Chinese buyers was justified. Thailand's major exporters say it is difficult to obtain raw materials due to the impact of rainfall. The RSS3 price of Thai No. 3 cigarette adhesive shipped in January is 350 cents per kilogram. On the 8th, the official FOB quotation of Malaysia standard adhesive SMR20 in January rose slightly in the morning

in other aspects, the General Administration of Customs will release China's foreign trade import and export data in November. It is expected that the year-on-year growth rate of exports in November will continue to decline to 10.9%. According to the signs of decline in the domestic economy, the import growth rate may significantly fall back to 19% in November, and the trade surplus will further narrow. If the growth rate of import and export drops significantly, the commodity market will face pressure. Recently, the commodity trend has been sluggish, and some negative effects have been digested in advance

overall, the commodity market turned upward. Europe is still deeply involved in the negotiations on how to solve the debt, which makes the market tired, and there will be no unexpected news. The European rescue fund will be expanded and the debt crisis will be eased in stages. The recent performance of the US economy has been stronger than expected, and consumption has begun to grow. Concerns about the slowdown of China's economic growth will not continue to intensify. China's monetary policy has entered a relaxation cycle, and future demand will rise accordingly. Outer 1 Our company adopts the after-sales service system combining regular return visit and consultation at any time. The situation is favorable to the rubber market, and the CPI data to be published in the near future will provide more support. Affected by the increase in rainfall in Thailand, spot prices rose slightly. Chinese traders' purchases may also be increasing, helping to boost prices. The recent data of automobile sales are optimistic, and the long-term demand for rubber is still stable. Nevertheless, the continued recovery of the rubber market needs to be digested by a large number of Chinese inventories. At present, there is no such positive sign

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