Global automobile production and sales data are strong, rubber futures prices fluctuate upward
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Tuesday, Jan 23, 2024 at 6:19 PM
The RU2405 month contract opened this week at 13,800 points, with a maximum of 13,950 points and a minimum of 13,635 points. It closed at 13,875 points, an increase of 105 points, with a trading volume of 1,025,916 hands and an open interest of 160,139 hands.

TheRU2405monthcontractopenedthisweekat13,800points,withamaximumof13,950pointsandaminimumof13,635points.Itclosedat13,875points,anincreaseof105points,withatradingvolumeof1,025,916handsandanopeninterestof160,139hands.


TheNR2403-monthcontractopenedthisweekat11,110points,withamaximumof11,385pointsandaminimumof11,070points.Itclosedat11,355points,anincreaseof285points,withatradingvolumeof257,150handsandanopeninterestof52,701hands.


Thisweek’snews:


1.Customs:China’simportsofprimary-shapedplasticsin2023willdecreaseby3.2%year-on-year


DatareleasedbytheGeneralAdministrationofCustomsofChinaonJanuary12showedthatChina’simportsofprimary-shapedplasticsinDecemberwere2.609milliontons;in2023,Chinaimportedatotalof29.604milliontonsofprimary-shapedplastics,adecreasefrom30.575milliontonsin20223.2%.


2.Non-ANRPCmemberspushupnaturalrubbersupplyforecasts


AccordingtoforeignnewsonJanuary9,theAssociationofNaturalRubberProducingCountries(ANRPC)raisedits2023naturalrubber(NR)productionforecastinitslatestmonthlyreport,mainlyduetostrongcontributionsfromnon-memberCôted'Ivoire.


InitsmonthlyreportinNovember,theassociationpredictedthatnaturalrubberproductionin2023isexpectedtoincreaseby3.5%year-on-yearto15.145milliontons,1.5%higherthanthepreviousforecast.


ANRPCsaidoutputgrowthwasmainlydueto"better-than-expected"outputinemergingnon-ANRPCmembers,particularlyCôted'IvoireinWestAfrica.


Atthesametime,theassociationnotedthatsomemembercountries,includingChinaandMalaysia,hadloweredtheirproductionforecastsdueto"unfavorableweatherconditions,reducedharvestinterest,defoliationdiseasesandotherfactors".


TheKualaLumpur-basedindustrybodynotedthatunderthisrevisedoutlook,ANRPCmembers'shareofglobalproductionhasfallento82.5%from84.1%.


In2023,thecontributionofnon-ANRPCmembersisexpectedtoincreaseby13.8%year-on-yearto2.653milliontons.Côted'Ivoireisexpectedtocontribute"morethanhalf",accordingtoANRPC'smonthlyreport.


3.China’sautomobileproductionandsalesexceeded30millionunitsforthefirsttime,settingarecordhigh


DatareleasedbytheChinaAssociationofAutomobileManufacturerstoday(11th)showsthatin2023,China’sautomobileproductionandsaleswillbothexceed30millionunitsforthefirsttime,settingarecordhigh.Amongthem,4.91millionunitswillbeexported,anditisexpectedtobecometheworld’snumberoneautomobileexporter.


In2023,China'sautomobileproductionandsaleswillreach30.161millionunitsand30.094millionunitsrespectively,ayear-on-yearincreaseof11.6%and12%respectively,ofwhich4.91millionvehicleswillbeexported,ayear-on-yearincreaseof58%.In2022,Chinawillbecometheworld'ssecondlargestautomobileexporter.


4.RetailsalesofChina’spassengercarmarketwillincreaseby5.6%year-on-yearin2023


ThelatestdatareleasedbythePassengerCarAssociationshowsthatinDecember2023,thepassengercarmarketretailed2.353millionunits,ayear-on-yearincreaseof8.5%,andamonth-on-monthincreaseof13.1%.Thecumulativeretailsalesforthewholeyearwere21.699millionunits,ayear-on-yearincreaseof5.6%.Thereasonwhytheretailsalesofthepassengercarmarketstrengthenedsignificantlymonth-on-monthinDecemberwasmainlyduetothejointpromotionofcarcompanies'year-endsprintandlocalconsumption-promotingmeasures.


FromtheperspectiveofthePassengerCarAssociation,2023willbeamiracleyearforChineseautomobiles.Carsaleswillexceed30millionunits,andpassengercarwholesaleandexportswillhitnewhighs,makingeveryonere-recognizethepotentialandmarketdevelopmentspaceofChina'sautomobileindustry.“Withthecontinuedcontributionofelectrificationtransformationandexportgrowth,webelievethatitwillbeatrendforChina’sautomobileproductionandsalestoexceed40millionunitsinthefuture.”