Shanghai Natural Rubber Futures May contract fell 0.36% in early trading on the 23rd. The po≈ssibility of raising interest rates in the short t¥o medium term in China is greatly reduced, and Asian spot prices have risen one after anot↑her, which has stimulated domestic rubber futures. However, investors are concerned about theΩ reaction of the State Reserve and the results of South Korean military exercises.

On the 22nd, the New York Mercantile Exchange (NYMEX) February crude oil futures cl∑osed up 0.66 US dollars or 0.73% to 90.48 US dollars per barrel. The U.∑S. Department of Energy said that crude oil inventories in the United Stat↕es decreased by 5.33 million barrels in the week of December 17, which was the third consecut×ive week of reduction. Gasoline inventories increased by 2.γ4 million barrels a week and distillate stocks decreased by 589,000 barrels. The ov÷erall decline was slightly greater than expected. The severe cold weath✔er in Europe triggered strong demand for heating oi≠l, and the forecast said that next week the average temperature in the no±rtheastern United States will be below normal for most of the ≥time, indirectly supporting the rise in crude oil. The Nat∑ional Real Estate Association announced that rising sales of existing homes in November eased con×cerns in the real estate market. Rising crude oil will incre₹ase the cost of synthetic rubber, which will benefit natural rubber prices.

Weather conditions, Thailand's natural rubber production area, cloudy in central and northern Th∞ailand, cloudy in the south; Malaysia production area, heavy rain inβ the southern Malay Peninsula, heavy rain in northern Kalimantan, rai®n affects local tapping production; Indonesia production area, Sumatra Cloudy in the north, hea÷vy rain south of the equator of Sumatra, and cloudy in the south of Kalim₩antan; China's production area is cloudy in Hainan and clear weather in Yunnan.

Asian spot market, the price rose on the previous trading day.★ A person in charge of the transaction said that inquiries were active on the d☆ay, and many new buyers in India, Sri Lanka and the Middle East asked£ for inquiries. The person in charge believes that‍ some of them may be local wholesalers, and the supply is still tight. T→hailand's No. 3 cigarette rubber RSS3, which was shipped in January, was sold at US$4,940 per ton.Ω On a FOB basis, the buyer was a Japanese automaker. On the 23rd, t he Malaysian standard rubber SMR20 FOB official price rose slightly in the mornin€g.

In other respects, the central bank has suspended the i←ssuance of 3-year central bank bills in the past two weeks. This week, the central bank once again£ suspended the issuance of central bank notes of this p♥eriod, issuing only one billion yuan of three-month central bank notes. This suspension shows ★that the direction of monetary policy has gradually become clear during the year and aroun<d the Spring Festival, and it is stable rather than tight. The £market has realized that when the CPI reaches 5.1%, the central bank did not₩ raise interest rates, and the CPI is likely to gradually decline in the comin'g year, and interest rate hikes will be more cautious. This provides a loose §monetary policy environment for the commodity market, and some fut☆ures prices have rebounded to the highest point of the year.

In general, the operation of the capital market has stab∏ilized, even though South Korea is holding military exercises. Under th☆e urging and warning of major powers, the tensions between North and South Korea have converged,© and the capital market has once again realized that the so-called tensions are always temporary. I↕n Europe, although US rating agencies have successi≈vely warned or set about downgrading sovereign debt ratings, the risks are clearly withiεn the control of the EU, at least in the short-term

This is indeed the case in the period of 　　. The suspension of t✔he 3-year central bank bill by the People's Bank of China shows confide∞nce in raising reserves to curb liquidity. Not only is it ♠impossible to raise interest rates during the year, but it is unlikely to raise inter<est rates in the first quarter of next year. This loose macro environment is b¥eneficial to the rubber market. There are reports that India's production may fall by ☆4% in the fourth quarter, further stimulating spot prices. In the rubber producing area of ​​Mal aysia, heavy rain continues, and the country's output is not optimistiλc. Although the profits of Chinese tire companies are meager, waiting does not seem to be" a good choice. Buyers pouring into the Asian spot market have n₩ot only come from developed countries, but also traders in backward ♥areas. However, the short-term market still needs ∞to wait for the statement of the State Reserve of China.