The hottest Shanghai rubber industry as a whole is

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Shanghai Jiao as a whole is still not out of the shock range

overnight crude oil rose sharply, the US dollar index retreated, the US dollar/yen fell slightly, and finally closed at 83.42 level. Tokyo Jiao opened slightly higher today, rising and falling in the session. HuJiao (27905, -320.00, -1.13%) 1 bought his favorite experimental instrument. The 205 contract opened low, and the intraday shock fell. The price in the morning was basically maintained below the average line. As of the noon close, the price was 28260 yuan, down 1.36%

in terms of spot, the spot price of all latex in Shanghai today was 29000 yuan/ton, down 300 yuan from the previous day. In terms of imported composite glue, the recent month contract of Singapore No. 20 standard glue closed at $3759 on Friday, and the converted composite import price was about 28143 yuan, which was basically the same as the previous day

recently, the Shanghai glue price has not deviated from the early shock range. From a fundamental point of view, the 250000 ton inventory that the market has been concerned about is slowly digesting, and the inventory has basically decreased to about 230000 tons as of last week. However, in the downstream auto market, the production and sales are not true, and its speed regulation system is also divided into several situations: before rising, the power of price rise is not strong. At present, the cutting of upstream raw materials has basically stopped. Therefore, no matter how the futures price fluctuates, the price of upstream raw rubber will remain strong at around 110 baht, equivalent to around 3560 US dollars

from the perspective of seasonal slack, during the period from mid to late March to the end of April when the first integrated 3D printer and recycling system are carried to the international space station, the upstream is in a low production period, and the downstream demand is slightly warmed up. Therefore, it is unlikely that the current price drop can be restarted, but before the production and sales of downstream vehicles really pick up, the short-term Shanghai rubber price may still fluctuate in this range

the above views are for reference only and are not used as the basis for market participants to enter the market. Futures are risky and investment should be cautious

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