The cost support of natural rubber and the resistance of buying to high prices are mainly driven by short-term price range fluctuations

Recently, the price range of natural rubber market has been fluctuating, and the futures market prices have been significantly affected by macro disturbances and have shown a high range fluctuation pattern. However, there is also a lack of trend guidance for the spot market price trend, which continues to maintain at 16500-16800 yuan/ton. Downstream consumers are resistant to the current high price, and coupled with the lack of production and processing profits for enterprises due to high raw material prices, the overall trading atmosphere in the spot market is not active. Some enterprises mainly replenish their stocks on dips due to urgent needs, and the mainstream trading is mainly based on arbitrage positions and monthly swaps. As of last Friday, the average price of latex in Shanghai was 16555 yuan/ton, an increase of 310 yuan/ton or 1.91% compared to the previous period; The average price of STR20 # mixed rubber in Shandong market is 15800 yuan/ton, an increase of 330 yuan/ton or 2.13% compared to the previous period. Under different frequencies of supply and demand support, coupled with the volatile macroeconomic situation in the periphery, the short-term natural rubber market may continue to fluctuate within a certain range. Attention should be paid to the impact of weather and macro sentiment on the linkage of products during the subsequent rubber cutting period.