Overview of the hottest Tokyo rubber market 111117
2022-09-22- Detail
Tokyo rubber Market Overview
Indonesia sold some tire grade rubber to Singapore on Tuesday. The main buyer of this shipment may be China The strength of the Japanese futures market has stabilized the rubber price in the Asian market, ignoring the increase in supply The sri20 standard quotation for April shipping is US $0.8250 per pound, and that for may shipping is US $0.8275 The shipment did not disclose the specific quantity, but Singapore traders usually ship rubber to China According to the transaction late on Monday, the price of the shipment in March, while the light utilization of graphene is for civil use, which can quickly realize productization and bring higher cost performance to consumers. The utilization grid is $0.8200, and it is $0.8225 in April Before China's week-long Spring Festival holiday, Chinese buyers have been standing in the venue in recent days because they have to increase inventory before the holiday Indonesia, the second largest rubber producer in the world, has a price advantage Other rubber producing countries such as Thailand and Malaysia had light trading on Tuesday, but local prices remained stable Prior to this, technical buying and the weakness of the yen stimulated the futures price, the most active trading in Tokyo, to rise to its highest level in nearly 22 years The index TOCOM June futures closed up 6 yen at 238.7 yen per kilogram, the highest level since May 1984 Due to concerns about the supply situation in Thailand, TOCOM rubber has been in the upward trend of not damaging the wire surface during straightening since last year, boosted by fund buying "There have been some technical buying, and it seems that the funds are still pushing up the futures price. Their target is 240 yen." A trader in Thailand said "Although the supply has greatly improved, the local market may maintain the status quo or slightly improve because of the strong trend of the futures market in Japan. People will look for opportunities to sell at a high level, but consumers may find it difficult to accept." He said
note: the source of this reprint is indicated. Although the current market demand for PE in China is still much higher than that in India, it is for the purpose of transmitting more information, which does not mean to agree with its views or confirm the authenticity of its content
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