Industry News

January 15, 2020 2020
Rubber Market Trend

Yesterday's Tokyo rubber rised 2% driven by the Shanghai stock market, which was pulled up by long-term forces after the early far-month contract opened slightly higher, triggering a stop-loss exit for short-term empty orders after breaking through the recent high of 204.7 yen, trading volume in Tokyo was low before the Shanghai market opened, rising as high as 208 yen, above last year's high of 207.90 yen.


Since then, the Shanghai market began to fall back in the afternoon and closed below the previous day's closing price, as China's customs and Statistics Bureau reported that imports of rubber and rubber products fell 6% in 2019 compared with 2018, at the same time, the Tokyo far-month contract combined with late trading also slightly down, but overall still maintain a broken bit after the upward trend of the firm. On the macro-economic Front, some foreign media reports said that the United States will maintain the current sanctions-related tariffs on Chinese goods until the end of this year's election.

 

Spot market, January 14,3 cigarettes 1 month FOB prices in the vicinity of 51.51 baht, up 0.07 baht from the previous session. No 20 on a one month FOB basis is near 45.76 baht, up 0.32 baht from the previous session. The USS spot price was near 41.36 baht, up 0.29 baht from the previous session.


       

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