Crude oil

International crude oil fell more than 2% overnight. The main Brent contract in March fell below $63 per barre, and the overall trend is still in a high downward trend. The data released by the US API yesterday showed that US crude oil inventories unexpectedly increased, while refined oil inventories continued to rise, which also showed a lack of demand. In addition, the spread of new domestic pneumonia virus in China has suppressed the market's optimism to a certain extent, and has suppressed the overall risk assets. Overall, we believe that oil prices may continue to be weak.

Raw materials of Polyester

Yesterday, the domestic PTA and MEG main 2005 contract rebounded after intraday dropping, and support at the short-term bottom appeared. With the approach of the Spring Festival holiday, the terminal weaving enterprises have ceased to work, and the operation load of polyester enterprises has gradually decreased. In addition, the drop in international crude oil prices overnight will have a certain impact on today's market. However, in view of the uncertainty during the Spring Festival holiday, it is advisable to wait and see after closing the short position in PTA and MEG.

Natural Rubber

There was no offered price for Qingdao rubber in USD. Overseas rubber rebounded at the bottom. The main force contract of TF05 fell by 1.8 or 1.20% and closed at 147.9. The main force contract of JUR06 fell by 1.6 or 0.83% and closed at 191.4. The SHFE rubber was relatively weak and fluctuated. The main force contract of RU05 rose by 5 or 0.04% and closed at 12,425, and the main force contract of NR04 rose by 60 or 0.58% and closed at 10,420.

Yunken Net News: Global glove demand is expected to increase by 12%, and as the world's well-known nitrile rubber gloves and latex gloves production area, the Malaysian glove industry has expanded significantly, increasing by 17.3% year-on-year to about 26.5 billion units. Oversupply and intensified competition have lowered profitability, while the increase in labor costs caused by minimum wages has offset the decline in industrial gas costs, and the supply-demand structure in the glove industry was unbalanced in the short-term.

Futures Operation Advice: There is no evening session tonight, and it is advised to be cautious with exposure risks.

(For reference only)