Stimulated by the soaring price of natural rubber, rubber tires rose against the trend yesterday, Hainan Rubber and Black Cat shares were pushed to the daily limit, double-money shares, large rubber and plastics rose by 5%.
Yesterday, the rubber tyres sector rose against the trend. The trigger factor was a sharp rebound in natural rubber prices in recent days. Sources said that the world's top three natural rubber producing countries Thailand, Indonesia and Malaysia will meet in Bangkok this week to seek a stable price initiative. The news came that in the market strongly anticipating that the government of the rubber-producing countries had taken care of the market, the main contract of natural rubber futures had a full daily limit on Monday and rose by more than 2% yesterday.
Natural rubber prices or oversold rebound
However, analysts' expectations of current natural rubber prices are not as enthusiastic as the market response. “At present, the fundamentals of natural rubber do not support a sharp increase in prices, and the market supply is very sufficient. The downturn in auto consumption has led to a decline in the demand for natural rubber.†Fu Chunjiang, manager of Jiangnan Futures Research Department, told reporters.
Fu Chunjiang believes that the government's support of the market is difficult to bring about a sustained surge in prices. The price of natural rubber in the market is unlikely to continue rising. It may maintain its oscillation near the current price level.
Rubber prices are still higher than the same period of last year
Natural rubber price changes have a significant impact on the trend of rubber stocks. Since the price of natural rubber rose sharply from the fourth quarter of last year to the first quarter of this year, the price of rubber in the first three quarters of this year is still higher than the level of the same period of last year.
The three quarterly report of Hainan Rubber showed that the company's net profit for the first three quarters was 710 million yuan, an increase of 83% over the same period of last year.
The performance of the listed company, Dazhou Rubber and Plastics, was very unsatisfactory. In the first three quarters, there was a loss, and there was a sign of a quarter-to-quarter increase in losses. From the loss of 7.3 million yuan in the first quarter to the loss of 210.228 million yuan in the third quarter.
Capital borrowed news hype tire shares
The rise in natural rubber prices is not good news for tire shares. Natural rubber is an important raw material for tire companies. After rising raw material prices, it is bad news for listed companies.
Analysts said that in theory, rubber prices should be good for rubber stocks, negative tire stocks, but yesterday the market is "eyebrows beard caught", even the tire industry's black cat shares are also pushed to the daily limit.
Judging from the transaction data, among the top five major buying and buying departments of Hainan Rubber and Black Cat, some of the famous "hot money concentration camps" are impressively listed. For example, the largest buyer of Hainan Rubber was the sales department of Yanan Road, Hangzhou, CITIC Jintong Securities, and the accumulated purchase amount exceeded 50 million yuan. The largest buyer of Black Cat's shares was Guotai Junan Securities' Shanghai Jiangsu Road Sales Department, and the net purchase amount was also RMB 8.62 million.
Yesterday, the rubber tyres sector rose against the trend. The trigger factor was a sharp rebound in natural rubber prices in recent days. Sources said that the world's top three natural rubber producing countries Thailand, Indonesia and Malaysia will meet in Bangkok this week to seek a stable price initiative. The news came that in the market strongly anticipating that the government of the rubber-producing countries had taken care of the market, the main contract of natural rubber futures had a full daily limit on Monday and rose by more than 2% yesterday.
Natural rubber prices or oversold rebound
However, analysts' expectations of current natural rubber prices are not as enthusiastic as the market response. “At present, the fundamentals of natural rubber do not support a sharp increase in prices, and the market supply is very sufficient. The downturn in auto consumption has led to a decline in the demand for natural rubber.†Fu Chunjiang, manager of Jiangnan Futures Research Department, told reporters.
Fu Chunjiang believes that the government's support of the market is difficult to bring about a sustained surge in prices. The price of natural rubber in the market is unlikely to continue rising. It may maintain its oscillation near the current price level.
Rubber prices are still higher than the same period of last year
Natural rubber price changes have a significant impact on the trend of rubber stocks. Since the price of natural rubber rose sharply from the fourth quarter of last year to the first quarter of this year, the price of rubber in the first three quarters of this year is still higher than the level of the same period of last year.
The three quarterly report of Hainan Rubber showed that the company's net profit for the first three quarters was 710 million yuan, an increase of 83% over the same period of last year.
The performance of the listed company, Dazhou Rubber and Plastics, was very unsatisfactory. In the first three quarters, there was a loss, and there was a sign of a quarter-to-quarter increase in losses. From the loss of 7.3 million yuan in the first quarter to the loss of 210.228 million yuan in the third quarter.
Capital borrowed news hype tire shares
The rise in natural rubber prices is not good news for tire shares. Natural rubber is an important raw material for tire companies. After rising raw material prices, it is bad news for listed companies.
Analysts said that in theory, rubber prices should be good for rubber stocks, negative tire stocks, but yesterday the market is "eyebrows beard caught", even the tire industry's black cat shares are also pushed to the daily limit.
Judging from the transaction data, among the top five major buying and buying departments of Hainan Rubber and Black Cat, some of the famous "hot money concentration camps" are impressively listed. For example, the largest buyer of Hainan Rubber was the sales department of Yanan Road, Hangzhou, CITIC Jintong Securities, and the accumulated purchase amount exceeded 50 million yuan. The largest buyer of Black Cat's shares was Guotai Junan Securities' Shanghai Jiangsu Road Sales Department, and the net purchase amount was also RMB 8.62 million.
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