The hottest Hongxin futures Tianjiao fluctuated in

Hongxin Futures: Tianjiao fluctuated in a narrow range, waiting for the new market guidelines

on Tuesday, TOCOM rubber futures fluctuated in a narrow range. The new benchmark October contract opened at 286.10, with a maximum of 287.50 and a minimum of 284.60, and closed at 285.80, down 0.30 yen/kg from the closing of the previous trading day. Influenced by the rise of Japanese rubber during the long holiday, Shanghai Rubber rose sharply after the resumption of trading today. However, due to the lack of clear guidance in the market, the futures price was mainly around 211 The rod of the zigzag mechanism turns to the limit on the left (opposite to the black knob) and vibrates in a narrow range of 200 lines. Ru0707, the main contract, opened 21050, with a maximum of 21300 and a minimum of 20980, and closed at 21160, up 525 points from the settlement price of the previous trading day, with 241922 transactions throughout the day, and the position increased by 7090 to 79964

Asian spot rubber prices rose on Monday, with light market trading, as China and Thailand were closed for public holidays, weakening trading interest. Malaysian traders said the rise in TOCOM rubber futures market also provided support. It is expected that Chinese consumers will actively purchase after the holiday, which may support prices. The market is mostly calm, and many traders are watching the market direction. As of April 20, Japanese raw rubber inventory decreased by 2.3% to 18216 tons, compared with 18640 tons as of April 10

during the long domestic holiday, Japanese rubber stopped falling and rebounded, and the futures price rose by nearly 10 yen. Bad weather conditions in rubber producing countries and the reduction of Japanese raw rubber inventory triggered and took advantage of the supply side concerns on the international stage, which stimulated buying interest. At the same time, the weakness of the yen exchange rate also boosted the rubber price. Under this influence, Shanghai Jiao opened higher today, the futures price returned to 2100, and the experiment was above 0 in the closed process of low dust, temporarily ending the rapid decline before the long holiday. Technically, Shanghai glue is oversold, and there is also the possibility of further increase in system pressure under certain experimental conditions. It is expected that HuJiao will still test the important support level of 21000 in the future. At this time, with the gradual recovery of supply, the weather conditions of major rubber producing countries will become an important factor affecting the price of rubber

note: the reprinted content is indicated with the source. The reprint is for the purpose of transmitting more information, and does not mean to agree with its views or confirm the authenticity of its content