SunSirs: China Natural Rubber Market fluctuated violently, and the Trend is Afraid to Weaken
October 25 2021 13:49:38 SunSirs (Selena)
According to the data monitoring of SunSirs, after the natural rubber market was wildly hyped and soared by about 650-700 RMB/ ton on October 19, the spot rubber was slightly adjusted with the market on the 20th. On October 21, the spot rubber market experienced a roller coaster. The spot rubber quotation was chaotic, some were high, and some were almost the same as the quotation on October 20; And the market continued to decline on the same day and night, with an expanded range. The main force was up to 15,465 RMB/ ton and the lowest 14,850 RMB/ ton, closing at 14,910 RMB/ ton, down 715 RMB/ ton.
After the state issued policies to intervene in coal on October 19, the futures market generally callback. Before natural rubber went down, it fried a handful of Thailand floods with funds, and then the momentum became weaker, the market changed violently and expanded rapidly. The future market will remain weak in the short term. If the imported rubber is released intensively at the end of this month or early next month, the market may be further weak, If the tail of the traditional peak season and downstream demand can be well boosted in October, there may be another wave of market strength.
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