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Dongguan Victory Rubber Products Co., Ltd

Commodity futures are booming, rubber closes sharply

On April 19, 2021, the main rubber contract in the night market closed up sharply. It opened at 13,655 yuan/ton and closed at 13,785 yuan/ton, 235 yuan/ton. The rest of the commodity futures also showed a more or less upward trend. The entire night pan was red on a large scale.


There have also been obvious changes in the price of crude oil. On Monday, Eastern time, international oil prices closed up, and both U.S. oil and cloth oil rose within 0.5%. Iron ore prices also hit a record high in the past 10 years. Vale produced 68 million tons of iron ore in the first quarter. However, rubber is still mostly bearish at present, and the fundamentals are still rising inventory. As of April 14, 2021, the inventory of natural rubber samples from 17 samples in Qingdao Free Trade Zone was 105,300 tons, an increase of 5,000 tons from the previous period, an increase of 0.48%. The surge in commodity futures will still stimulate the trend of natural rubber to a certain extent, but it is difficult for the fundamentals under great pressure to continue to rise.


On the news side, stimulating policy news appeared, and the General Department of the National Energy Administration issued a document for the first time to put forward the five-year development goal of my country's wind power and photovoltaic industry. The announcement stated that in order to implement the carbon peak and carbon neutral goals, as well as the non-fossil energy accounted for about 25% of primary energy consumption in 2030, and the total installed capacity of wind power and solar power generation above 1.2 billion kilowatts, it will continue to promote wind power and photovoltaic power generation. Quality development.


Although there has been a clear upward trend in the night market, it still fluctuates within the predicted range. It is recommended to continue to maintain oscillations between 13,000 and 14,000.


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