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Daily Market Review on Specified Futures Products 2020.01.20

Fang submitted 2020-01-20 12:57:23

Natural Rubber

The transaction of Qingdao rubber in USD was scarce. There was no offered price for RSS3. The CIF of STR20 in April was $1,570 per ton. The spot price and CIF of SMR20 was $1,520 to $1,535 per ton. The CIF of mixed rubber from Thailand in March was $1,560 to $1,565 per ton. The quoted spot price of mixed rubber from Thailand in RMB was ¥12,050 to ¥12,100 per ton. Overseas rubber retreated from the high level. The main force contract of TF04 fell by 0.9 or 0.58% and closed at 153.0. The main force contract of JUR06 fell by 0.1 or 0.05% and closed at 206.1. The SHFE rubber slumped. The main force contract of RU05 fell by 115 or 0.88% and closed at 12,960, and the main force contract of NR04 fell by 110 or 1.00% and closed at 10,870.

China Tire Dealer News: Guizhou Tyre Co., Ltd released its performance in 2019, which is expected to achieve a net profit attributable to shareholders of listed companies of 130 million to 165 million, an increase of 47.44% to 87.13% over the same period last year. Driven by various series of main products, especially high-quality tubeless tires for trucks and buses, the company's production and operation were relatively stable in the first half of the year. Although exports were blocked, due to the adjustment of the product series structure and the structural region sales measures, the sales revenue of tire business rose significantly compared with the same period of last year, and the gross profit margin also increased.

Transaction of concentrated latex was scarce, and the quoted price remained high under the overseas support. As of January 17, the subtotal inventory of the RU contract in SHFE was 16,000 tons, which was only higher than the same period in 2011 in the past ten years. After eliminating the problem of registration difficulties, futures inventories of the NR contract increased by 6000 tons per week. Considering that the current position of the NR02 contract was 2,580 lots, most of the currently registered positions are for participation in the delivery of the 02 contract.

Futures Operation Advice: The SHFE rubber slumped with commodities. As for the main contract of RU05, it is advised to pay attention to the support at the recent low level at 12,930 below.

(For reference only)

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