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Daily Market Review on Specified Futures Products 2020.03.09

Fang submitted 2020-03-09 10:07:15

Natural Rubber

Overseas rubber fluctuated weakly. The main force contract of TF05 fell by 1.1 or 0.83% to 130.9. The main force contract of JUR08 fell by 5.7 or 3.28% to 168.3. The SHFE rubber went lower. The main force contract of RU05 fell by 220 or 1.98% and closed at 10,900, and the main force contract of NR05 fell by 185 or 1.97% and closed at 9,205. The quoted price for Qingdao rubber in USD went lower with general inquiries. The quoted price of RSS3 was $1,620 per ton. The spot price or CIF of STR20 was $1,320 to $ 1,330 per ton. The CIF of SMR20 in August was $1,370 per ton. The CIF of mixed rubber from Thailand in July was $1,370 per ton.

Bloomberg News: Saudi Arabia sharply lowered crude oil prices sold to foreign markets in Europe, the Far East and the United States on Saturday, with the largest discount in more than 20 years to attract foreign refineries to buy Saudi crude oil. At the same time, Saudi Arabia also privately informed market participants that it would increase output if needed, even if the output value reached a record level of 12 million barrels per day. Saudi Aramco will announce the official price of crude oil to refiners every month, but almost every adjustment is a few cents or up to a few dollars, but on Saturday Saudi Aramco informed customers that the official crude oil prices sold to various regions will be reduced by $6 to $8 per barrel.

Rainfall in Thailand was low recently. Only light rain was observed in Songkhla and Rayong provinces. The average daily rainfall at the beginning of the month was only 0.04mm. As of March 6, the subtotal of the RU contract inventory in SHFE was 245,000 tons, and the futures inventories were 238,000 tons, the difference between the two was 60,000 tons, an increase of 4.1% from the previous week. The subtotal of NR contract inventory was 67,000 tons.

Futures Operation Advice: The SHFE rubber fluctuated weakly on Friday. As for the main RU05 contract, it is advised to wait and see and pay attention to the support at the recent low level at 10,530 below.

(For reference only)

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