Rubber cost support strengthens and rubber prices fluctuate upward trend
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Tuesday, Jan 23, 2024 at 5:21 PM
Fundamental overview: According to the Natural Rubber Network, the main production areas at home and abroad are approaching the off-season of supply, coupled with the replenishment of upstream factories, raw material prices are firm

Fundamental overview: According to the Natural Rubber Network, the main production areas at home and abroad are approaching the off-season of supply, coupled with the replenishment of upstream factories, raw material prices are firm, rubber cost support is strong, and rubber prices continue to fluctuate upward. The suspension of cutting in domestic production areas has become a signal of seasonal production reductions.


Foreign production areas, northeastern Thailand and Vietnam production areas have successively entered the season of suspension of cutting and production reduction in the middle to late this month. The supply of raw materials has tightened, and raw material prices have supported future prices to a certain extent. However, the current situation where it is easy to rise but difficult to fall has also led to a reduction in the willingness to purchase spot goods and increased cost pressure on upstream factories.


Operational suggestions: The daily operating range of the Rubber 05 contract is 13860-13690, and the short-term overall remains unchanged between 14000-13700. However, the pressure at the integer mark is heavy, and it failed to break through several times, which itself brings certain adjustment pressure. Pay attention to short-term opportunities to sell high and buy low.