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          Thailand's rubber program will promote the acquisition of China's imports rose
          Add Time:2021/2/2 16:51:02

             [Dow Jones] The Thai government claims to acquire up to 200,000 tons of rubber (25315,295.00,1.18%), to support rubber prices rose to 379 cents more than the current spot price of at least 10% higher. Investors worried, traders will increase prices of imports before the reserve enough in stock. The situation becomes favorable.

             The New York Mercantile Exchange, February crude contract fell sharply. Nigeria, a union leader said that the oil platform workers have entered the red alert, well prepared to shut down production facilities. As the government suddenly suspended the $ 7 billion in fuel subsidies, the project led to soaring fuel costs, the situation became tense in Nigeria. However, the U.S. Department of Energy data is bad. Last week, U.S. crude oil inventories increased by 500 million barrels, well above the expected increase of 110 million barrels. And the increase in gasoline and distillate stocks also exceeded expectations, sending prices down. Crude oil fell, to cut the cost of synthetic rubber, natural rubber market on the negative.

             Weather conditions, natural rubber producing areas of Thailand, north-central Thailand, sunny cloudy, with rain south; areas of Malaysia, the Malay Peninsula in the southern rain, rain in northern Kalimantan; areas of Indonesia, Sumatra, north of the equator there is rain, Sumatra, south of the equator have rain, rain in southern Kalimantan; China areas, rain Hainan, Yunnan showers. Recent weather on tapping little effect on production and transportation.

             Asian rubber market, the first trading day, the spot prices. Traders said the market was very active, but the Chinese counter-offer is still too low. Chinese traders are trying to clearance, the market to bear some of the selling price is difficult to accept. January / February shipment of Thailand Yan Pianjiao RSS3 3 cents per kg 343-345. 12, the Malaysian standard rubber SMR20 2 月 official quoted FOB morning rose slightly, Shanghai rubber futures May contract rose 0.98% in early trading.

             Elsewhere, the Thai government officials and farmers' associations, said the Thai government to buy up to 200,000 tons could not smoke film, designed to push up the price of 120 baht per kilogram ($ 3.79). Intervention project to be in by January 17, composed of ministers and government officials of countries approved by the Committee of rubber, followed by 24 January the Cabinet's approval. Officials also pointed out that 2,3 is usually two months of rising rubber prices, the supply is low due to seasonal reasons. However, if does not meet the target price, the government will intervene. The Thai government intervention will enhance the recent rubber prices.

             In general, commodity markets are looking up. European crisis pressure was significantly decreased, bond auction proceeded smoothly, Italy and Spain are expected to successfully pass. In addition, Fitch Ratings affirmed France, the S & P rating is not the French position will be reduced. European rating pressure is not serious, at least relative to the end of last year is so. Favorable external situation of the rubber market. Intervention initiatives Thai rubber prices caused investors to pay close attention. Driven by the interests of rubber farmers, the Thai government plans to acquire up to 200,000 tons of rubber, in order to push prices up to around 379 cents, the current price of 343 cents. This means that rubber prices have much room for growth. If traders are nervous this will also be shot in Thailand before the expansion of imports. The situation looks good.

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