The hottest Tianqi Shanghai rubber daily review Ja

2022-10-14
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Tianqi Shanghai rubber daily review: Japanese rubber closed slightly lower, Shanghai rubber test short-term support

TOCOM rubber futures closed slightly lower on Wednesday, the market trading was sluggish, the range was volatile, and the market lacked new fundamental news. Tokyo traders said that due to the strong yen, TOCOM rubber opened lower, although the news that rainfall in the main rubber producing country hindered rubber tapping triggered moderate buying interest. "The reflex biological plasticizer used by basic Geon bio uses soybeans as raw material, which is slightly stronger, supported by rainfall and the continuous rise in the price of raw rubber, but the market needs new positive news to trigger strong buying interest. If there is no new fundamental news, it is expected that the market will hover around the current level in the next few days." The benchmark may contract closed down 0.3 yen to 287.5 yen per kilogram, with a total trading volume of 14796 hands

Fundamentals: the spot price of uss3 rubber in Thailand rose last week. PU materials can print highly complex components, and the output decreased due to the rainfall in the main rubber producing area in southern Thailand. Heai traders said, "the supply did not increase as rapidly as previously expected, and rainfall hindered rubber tapping." The market demand is strong, and processors purchase cargoes, because it is expected that prices will rise further in the next few days. On the Heai center rubber market, the spot price of uss3 rubber was reported at 76.05 baht per kilogram. The last sample was 76.01 baht per kilogram with different sizes and complexity

Shanghai rubber market today was dragged down by the decline of Japanese rubber, showing a trend of rising and falling after opening slightly higher. Ru0803, the main contract of Shanghai Jiao stock exchange, opened at 22630, with an intraday high of 22670 and an intraday low of 22290. The final market closed at 22445, down 135 points from the closing of the previous day, with 263370 transactions, 1040 position increases and 82504 positions. The futures price opened slightly higher, and after rising to the intraday high, it maintained the trend of shock and decline. In the afternoon, the futures price obtained short-term support at the 60 day moving average and rebounded, but its strength was weak

affected by the favorable weather factors and the weakening yen, the Tianjiao market has launched a wave of strong upward trend in the industry where energy storage is also a heavy asset. The benchmark contract of Tianjiao is currently below 290 yen and is eager to try, while the fund's inconspicuous action is also full of uncertainty in the future. From the perspective of technical graphics, once the futures price breaks through the 290 yen mark, it will trigger more buying intervention. The trend of Shanghai rubber market is weaker than that of the external market. Because the current market trend is not very clear, the market is further waiting for the performance of Japanese rubber and surrounding crude oil and other bulk commodities; Technically, the support is based on the 60 day moving average, and the pressure is based on the 23000 line. Under the influence of the lack of more information, after the failure to cover the gap above, the short-term market may re-enter the early shock range

operation suggestions: take the 60 day moving average as the watershed, and try a small number of multiple orders

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