External oil crude oil sharply higher, rubber to maintain a long pattern

Driven by the improvement of US manufacturing data and rising stock market, NYMEX-10 crude oil settled higher by 1.99 US dollars to 73.91 US dollars per barrel, or 2.77%, with an intraday trading range of 71.67. -74.48 U.S. dollars. TOCOM rubber (26145, 400.00, 1.55%)** rose on Wednesday, following the Dow overnight and crude oil ** sharp gains, the benchmark February rubber contract rose 3 yen to 296.8 yen per kilogram.

Affected by the external disk, today's domestic rubber main contract opened 1101, intraday volatility upwards, as of midday close rose 1.59%, the price is 26155. Spot, the amount of rubber latex pending orders in the market today is 1492, slightly smaller than the previous day After falling, the average price of pending orders was 25,425, which was higher than the price of the previous day. The volume of all-latex yesterday was 1178, which rose sharply from the previous day. The average transaction price was 25328, slightly lower than the previous day.

In news, the State Rubber Bureau of India announced on September 1 that due to the increase in latex production of farmers, the country’s natural rubber production in August increased to 72,500 tons in August due to price increase and favorable weather conditions, which was an increase from 64,750 tons in the same period in 2009. 12%. Rubber production in the April-August period increased by 8.5% over the same period of 2009 to 297,750 tons. Consumption during August decreased slightly from 79,950 tons to 79,000 tons, but the total consumption during April-August increased by 3.4% to 390,350 tons.

From a technical point of view, rubber prices continue to maintain the long pattern, the early bulls continue to hold.