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Guoxin Futures: Rubber prices wait for stabilization opportunity

Guoxin Futures: Rubber prices wait for stabilization opportunity

2024-06-17 17:57

On Monday, the rubber price fluctuated slightly and rebounded. In terms of spot trading, the futures market operated weakly, and the spot market prices mostly followed the decline and weakened. However, the actual buying atmosphere downstream was limited. Under the background of buying up rather than buying down in the market, most of the buyers were wait-and-see, and only small orders were made for all latex. Due to strong performance and weak downstream buying, Vietnamese gum has limited transactions. The supply and output of new rubber both domestically and internationally fell short of expectations, coupled with a contraction in import volume, resulting in tight liquidity in the current domestic spot market. Inventory in multiple links continues to deplete, and some rubber varieties are in short supply, which has strongly supported rubber prices. High priced raw materials have led to downstream processing profits being damaged, and actual buying sentiment has been suppressed; Looking at the accumulated inventory of finished products, some companies have maintenance holidays, and there is a lack of driving force for the increase in rubber prices due to the demand for raw materials. On the technical side, Shanghai rubber RU2409 is rapidly rebounding, pay attention to the support below. Make suggestions and wait for the opportunity to stabilize.

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