On The 27 Day, Shanghai Rubber Will Continue To Pull Back.

In February 27th, Shanghai Rubber opened lower and lower. The main contract RU0805 opened at 23895 yuan, which was 80 yuan lower than the last day's settlement price.

After the continuation of Tuesday's weakness continued to callback, the lowest position down to 23300 yuan, closed at the end of 23525 yuan to close, plunged 450 yuan, or 1.88%.

On the news, according to Kunming's February 26th news, a senior industry official said on Tuesday that China's natural rubber (23560, -120.00, -0.51%, bar) output in 2008 is expected to grow by more than 80% to 650 thousand tons.

Regarding this, Fan Rende, general secretary of the China Rubber Industry Association, said that China is the largest rubber consumer in the world. It is estimated that the output of natural rubber will be 780 thousand tons in 2010, up 30% from 600 thousand tons in the previous quarter.

On the spot side, according to Bangkok's February 27th news, the spot price of Thailand No. 3 smokeless film USS3 was unchanged on Wednesday, and the market was light, because TOCOM rubber futures trading was not stable to stop sellers and buyers. TOCOM rubber futures fell sharply on the previous day.

Crude oil prices are strong, and rubber supply is tight in low production season to provide support for the market.

Daye futures said on Wednesday, Shanghai Rubber continued its weak callback trend. However, under the support of strong fundamentals and strong crude oil, the range of Shanghai Jiao Jiao's callback was limited. It is expected that the Shanghai rubber will regress to the seasonal pattern after adjustment.

Editor in chief: Xu Qiyun