Shanghai natural rubber chemicals futures contract of September 13 in early trading by 1.28%. Concerns about global economic prospects, induced by crude oil fell sharply, weighed on the rubber market and Malaysia increase message to ease market concerns about the prospects of supply. Nevertheless, the Central Bank has temporarily stopped unexpectedly raised rates of macroeconomic policies on the rubber market-friendly. Trend continues to improve.
10th, July crude oil contract resumption of the New York Mercantile Futures Exchange low $ 2.64 or clearing price $ 99.29/barrel. Saudi news report, Saudi plan to 8.8 million barrels of crude oil daily from May to 10 million barrels, easing market worries about OPEC production agreement cannot be reached. United States stock market the substantial fall, p 500 and Dow decline in the sixth consecutive week, weak China import and export data, and on the second round of the rescue of Greece plan debate, heightened investor concerns about slowing global economic growth mood. Stock market weighed on crude oil markets. Crude oil fell by would reduce cost of synthetic rubber, to the disadvantage of natural rubber prices.
The weather conditions, Thailand natural rubber-producing area, Thailand in the rain in the Northern, southern cloudy; Malaysia-producing areas, the Malay peninsula south of cloudy, North Kalimantan Island cloudy; Indonesia-producing area, Sumatra cloudy North of the equator, Sumatra cloudy South of the equator, South Kalimantan Island rain; Chinese producing area, showers, Hainan, Yunnan as cloudy weather.
Asian stock markets, the previous trading day, falling prices. Dealers said trading slowed ahead of weekend market, market seeking more clear guidelines. July/August shipment of Thailand, 3rd Bacon rubber RSS3 518 cents per kg. 13th, Malaysia rubber SMR20 July FOB official quote morning fell as much as.
Elsewhere, Malaysia Bureau of statistics published the latest data show that the country's natural rubber output of 62,000 tons in April in 2010, representing an increase of 18%. At the end of April, Malaysia rubber inventory totals of 127,000 tons, representing 2010 decreased by 9%. Decline in inventory validation weather nearly a year of production, but since April the weather is good, Malaysia production, which will make up for a part of inventory. Weather stability and weaken the support of the natural rubber.
In General, commodity markets will remain on an upward trend. United States stock market dropped sharply and crude oil prices, fears the Economic Outlook. But the accompanying may be good news. Loose monetary policy of the Fed statement at the same time, does not negate the new quantitative easing measures, looks, necessity has increased. Not unexpectedly during the Dragon Boat Festival holiday and China's central bank interest rates last weekend, breaking a two-month interest rate rules, possible end of the stage of China's tightening policy, even after CPI figures, the Central Bank will not raise the reserve requirement, which would give more clear signal. The rubber market will benefit, but Malaysia given by the Bureau of statistics, good weather is helping yield pick-up, inventory will be part of make up. Market concerns about the weather in the near future also weakened, 3 tropical storms are avoiding the main producing areas. Yields will rise, gradually narrowing gap between supply and demand, rising power which weakened. Rubber prices remain attractive spot price stability in Southeast Asia, tire Enterprise procurement support. Situation is that, the trend slowed, but will continue to rise.
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