In the past three months, the trend of rubber has been relatively low and strong, with the low point continuously moving upwards; However, due to weather conditions, rubber production may significantly increase year-on-year.
According to the latest retail sales data from the China Passenger Car Association, from June 1st to 11th, the retail sales of 425000 vehicles in the passenger car market decreased by 10% year-on-year and 25% year-on-year; Since the beginning of this year, the cumulative retail sales have reached 8.057 million vehicles, a year-on-year increase of 3%.
According to data released by the General Administration of Customs of China on June 7th, China imported a total of 613000 tons of natural and synthetic rubber (including latex) in May 2023, an increase of 32.4% from 463000 tons in the same period of 2022. From January to May 2023, China imported a total of 3.373 million tons of natural and synthetic rubber (including latex), an increase of 17.9% compared to 2.86 million tons in the same period of 2022.
Last week, domestic tire sales and shipments in China remained relatively flat, with some tire companies planning to reduce their burden due to rising inventory pressure on finished products.
The rubber continues to fluctuate and consolidate at the bottom, and the fundamentals continue to be weak in both supply and demand. There is no improvement trend, so it is recommended to lay out empty orders every high.