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Natural rubber market prices fell sharply
Source: | Author:prob07b89 | Published time: 2020-02-25 | 930 Views | Share:
On May 7, the international rubber price of the Tokyo Commodity Exchange (TOCOM) fell sharply, sliding to the lowest level in more than four years, as Thailand, a major producer, will continue to sell rubber, which has further affected the already stressed market. October gum closed down 10.1 yen to 197.2 yen per kilo.
Traders said that as of April 29, China's Qingdao Port rubber inventory was 361,000 tons, close to a record high of 370,000 tons in the same period in 2013, and an increase of 0.2% from the 360,200 tons on April 15. Chinese rubber stocks have weighed on market sentiment, and the Thai government said over the weekend that it plans to release 220,000 tons of national reserves of natural rubber, worrying the market that there will be a huge surplus in 2014. In the Qingdao rubber inventory as of April 29, 263,000 tons were natural rubber.
Shanghai Rubber Futures fell weakly on the 7th. The main 1409 contract closed at 14090 yuan / ton. The fundamentals of natural rubber have not significantly improved. It still has a suppressing effect on rubber prices. In the short term, it may fluctuate between 14000-15000 yuan / ton. If it breaks below The 13800 line opened the space.
In the natural rubber market in Shanghai, Yunnan State-owned whole milk 13-year report was 13500-13800 yuan / ton, 14-year report was 13900-yuan / ton, Hainan 13-year state-owned full-latex reported around 13500-13800 yuan / t, and Yunnan Biaoer's offer was 12,900 yuan / ton Thailand 3 # tobacco sheet 17 tax quoted at 15,100 yuan / ton, Vietnam 3L reported at 14600-14800 yuan / ton, the market offer narrowed and consolidated, the actual transaction was negotiated