Short-term news keeps coming, rubber market "rises and falls"

On April 8, during the daytime trading session of the futures market, many commodity futures saw significant fluctuations. The frequent news in the headlines caused commodities such as methanol and asphalt to drop sharply. Rubber remained relatively stable during the day; the main contract continued to fluctuate around 16,800 from the previous day, with the trading range widening.

At present, the rubber situation is still the same as the fundamentals we provided yesterday. As long as there have been no major changes in production in Southeast Asia, especially in the Thailand production area, upstream supply will still have some support in the short term. On April 8, the natural rubber raw materials market in Thailand’s production area rose: smoked sheets were 84.50 Thai baht/kg, up 1.50 Thai baht/kg; latex was 83.70 Thai baht/kg, up 0.70 Thai baht/kg; cup lump was 64.70 Thai baht/kg, up 0.30 Thai baht/kg.

In addition to natural rubber, Thailand also said yesterday that it will strengthen export controls on crude palm oil starting April 7 and control the price of bottled palm oil. Another piece of news worth noting is that the Strait of Hormuz will achieve safe passage within two weeks.

There are many news updates today and the release frequency is high. Some commodities may experience large fluctuations in the short term due to this. You should pay attention to distinguishing and verifying these movements. In the short term, rubber is expected to see no major changes, though there is an upward outlook. (Natural Rubber Network)