Guodu Futures: Rubber: strong demand support, but supply pressure remains
In April, the price of rubber futures rebounded, showing a “m” type shock. Since March and April, the global natural rubber trees have been cut from north to south. This year, the weather is generally preferred, and the price of superimposed raw materials is at a high level. The market has strong expectations for the increase of supply in the initial stage of cutting, so the price pressure at the beginning of the month is greater. However, affected by drought and powdery mildew in Yunnan Province, it was originally planned to start cutting in late March, and then it was postponed to mid late April. The domestic supply stage was tight, which supported the upward trend of prices. As of April 30, the main contract of Shanghai Rubber Co., Ltd. closed at 13890 yuan / ton, up 195 yuan / ton, or 1.42%. Ine20 rubber contract closed at 11110 yuan / ton, up 400 yuan / ton, or 3.73%. In the spot market, the glue price dropped from a high level, and the price dropped to a high level