FangQuant › Daily Morning

Daily Market Review on Specified Futures Products 2019.11.11

Fang submitted 2019-11-11 15:10:15

Natural Rubber

The quoted price of Qingdao rubber in USD retreated slightly with normal inquiries. The CIF of RSS3 was $1,600 per ton. The CIF of STR20 in February was $1,410 to $1,415 per ton. The spot price and CIF of SMR20 was $1,350 to $1,360 per ton. The CIF of mixed rubber from Thailand in February was $1,415 to $1,420 per ton. The quoted spot price of mixed rubber from Thailand in RMB was ¥11,000 to ¥11,100 per ton. Overseas rubber went down slightly. The main force contract of JRU02 fell 0.3 or 0.18% and closed at 136.1. The main force contract of TF01 fell 0.7 or 0.51% and closed at 136.1. The SHFE Rubber fluctuated weakly. The main force contract of RU01 fell 5 or 0.04% and closed at 11,965, and the main force contract of NR02 was flat with the last trading day and closed at 10,165.


Mytyre News: Goodyear reported earnings recently. The third-quarter total sales fell 3% due to exchange rate factors and sales decline of third-party chemical products. Revenue decreased from 3.93 billion USD in the same period last year to 3.8 billion USD, lower than analysts' expectations of 3.94 billion USD. The financial report showed that its tire sales in the current season fell by 1% to 40.3 million pieces, and shipments of replacement tire increased by 1% year-on-year. Affected by the decline in global automobile production, the output of original equipment decreased by 5%. The company's CEO, Richard Kramer, said that the industry situation in Europe is weaker than they expected, and the negative impact of the lack of coordination in the distribution will continue.


In terms of synthetic rubber, the closing price of butadiene cargo fell sharply last week, and FOB in Korea was reported to $835 per ton (down $90 per ton), which made the synthetic rubber price that has just stabilized lose its support again. The latest domestic index of logistics freight rate stopped rise and closed at 982.3, down 0.9, and the revised index fell 0.5 and closed at 981.1.


Futures Operation Advice: The SHFE rubber retreated slightly. As for the main force contract of RU01, it is advised to wait and see and pay attention to the support at the recent low level at 11,910 below.


(For reference only)



Currently no Comments.