Rising inventory of the hottest cars increases pre

Rising auto inventories increased pressure on the rubber market

Shanghai natural rubber futures contract fell 1.92% in early trading on May 29. The market was pessimistic about the auction of Italian long-term treasury bonds, and the rise of automobile inventory and the news that the Qingdao free trade zone would sell inventory increased the pressure on the rubber market. However, China may adjust the reserve during the new year's day to limit the decline

on the 28th, the February crude oil contract on the New York Mercantile futures exchange fell $1.98, or 2%, to $99.36. The auction results of Italian government bonds showed that the country successfully auctioned off 9 billion euros and 1.733 billion euros of semi annual and two-year bonds on the 28th, respectively, but the positive did not provide much support, and the 10-year bond yield returned to above the key level of 7%. Italy will also auction 3-year and 10-year government bonds. Investors are worried that the auction may have a bad performance, leading to the possibility of a credit crunch in the eurozone. However, tensions in the Middle East continued to support oil prices. The decline of crude oil will reduce the cost of synthetic rubber, which is unfavorable to the natural rubber market

weather conditions, natural rubber production area in Thailand, sunny and cloudy in central and northern Thailand, cloudy in the South; Malaysia production area, cloudy in the south of the Malay Peninsula, rainy in the north of Kalimantan island; In Indonesia, it is cloudy in the north of the equator of Sumatra island, rainy in the south of the equator of Sumatra island and rainy in the south of Kalimantan island; China's production areas, Hainan cloudy, Yunnan cloudy. The recent weather has little impact on rubber cutting production and transportation

in the Asian spot market, the last trading day, the price fell. Market participants bid cautiously. Traders said that buyers offered lower prices, although China, the world's largest importer and consumer of rubber, entered the market to purchase. According to a dealer in the research, development, utilization and implementation center of basic common technologies and technical standards in the polymer surface materials industry in Singapore, the bid of Chinese buyers is less than US $3300 per ton, making it difficult to conclude a deal. RSS3 of Thai No.3 cigarette glue shipped in January is quoted at US cents per kilogram. On the 29th, the official FOB quotation of Malaysian standard glue SMR20 in January remained stable in the morning

in other aspects, the domestic passenger vehicle inventory has exceeded 2million, equivalent to 1/6 of the output in the previous 11 months. The China Automobile Association predicts that the growth rate of the car market in 2011 will be about 2%. The growth of the domestic automobile market has slowed down significantly, and the situation next year is not optimistic in terms of oil cylinders and planes. Due to the high inventory of this kind of special drive obtained through electronic injection, the recent automobile production may decline, and the rubber demand will slow down

on the whole, the commodity market has encountered resistance. The Italian bond auction was generally better than expected, but failed to ease investors' tension. Investors noticed that the interest rate of 10-year Treasury bonds was at a dangerous level near 7%. In addition, the European banking industry deposited the loans issued by the European Central Bank into the European Central Bank, reflecting the banking industry's concern about liquidity and the pessimistic economic outlook. The peripheral situation is slightly unfavorable to the rubber market. Data show that China's passenger car inventory has exceeded 2million, while the growth of production and sales has fallen sharply in recent months. It is expected that the growth of automobiles will be only 2% in 2012, when the demand for rubber will be very limited, and the output recovery in Southeast Asia will exceed 5%. It is said that the inventory in the conservative area of Qingdao will be thrown into the spot market, and the recent pressure will increase

note: the reprinted content is indicated with the source. The reprint is for the purpose of transmitting more information, and does not mean to agree with its views or confirm the authenticity of its content