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U.S. auto sales boost rubber market optimism-glow plug,spark plug

Shanghai Natural rubber (34555, -45.00, -0.13%) futures contracts on January 3, up 0.70% in early trading. U.S. economic weakness, but market speculation that the need for quantitative easing will also rise, offsetting the negative impact of the former. Rubber market rebound, rebound in U.S. auto sales provide support, but also anxiety-producing areas has increased weather volatility, Chinese traders began to actively seek goods.

    2, the New York Mercantile Exchange, September crude oil contract $ 93.79 a barrel, down $ 1.10, or 1.16%. U.S. Commerce Department said consumer spending in June fell 0.2 percent, since September 2009, the biggest decline economists had expected consumer spending was flat. June, the U.S. personal savings rate rose to 5.4% for almost a year to the highest level. Consumption will decline will affect the U.S. economic growth. U.S. stocks fell sharply for the past three years, the longest round of decline. However, the American Petroleum Institute (API) said last week, U.S. crude oil inventories fell 3.3 million barrels, more than market expectations, supporting the market. Crude oil fell, to cut the cost of synthetic rubber, natural rubber prices on the negative.

    Weather conditions, natural rubber producing areas of Thailand, north-central Thailand, rain, cloudy south; areas of Malaysia, the Malay Peninsula, southern rain, cloudy northern Kalimantan; areas of Indonesia, Sumatra Island, cloudy north of the equator, equatorial Sumatra south of the cloudy, with rain in southern Kalimantan; China areas, showers, Hainan, Yunnan, overcast weather, recent rains the high side impact tapping production.

    Asian stock markets, the first trading day, prices fell. A dealer in Singapore said traders cautious. Risk-averse traders, subject to all the poor macro-economic news, have to keep watching, especially the price remains high. September / October shipment from Thailand Yan Pianjiao RSS3 3 485 cents per kg. 3, marked plastic SMR208 Malaysian official quotation on FOB morning fell.

    Elsewhere, the trend of decline in U.S. auto sales in July has been checked, the major car manufacturers released July sales figures better than the performance of the past few months. U.S. auto sales in July rose about 1% to an annual rate of about 12.23 million, the number is still below the more than 13 million in early sales figures, but experienced a trough in June, the automotive industry will begin to rebound. In the fuel-efficient cars, driven by sales growth, the major car prices car sales continued to pick up the month. U.S. auto market recovery will boost demand for the U.S. China's tire exports tire, the rubber market-friendly.

    Overall, commodity markets continue to seek to rise. U.S. economy shows signs of weakness, lack of consumer savings will rise, the U.S. stock market fell sharply. However, gold prices, the market speculated that the sluggish economy will push the Fed's attitude has become more radical. Quantitative easing, the Fed has the possibility of release, and now seems to have some of the necessary. The Chinese government in the emphasis on maintaining tight monetary policy, but policy changes, history shows that modest changes may not necessarily violate the purpose. Situation is even more necessary to support China's economic growth policy by adding an important task in the past. For interest rates and improve the reserve's worries will soon dissipate. The external situation is not much pressure on the rubber market. Data show that U.S. car sales growth out of the first two months of slowdown, the U.S. tire consumption may rise. In addition, Southeast Asia, producing a slight increase in rainfall, weather concerns affecting the production began to rise. Although the increase in supply at the stage, but the weather change will result in the seller cover plate reluctant sellers. Chinese traders' enthusiasm for the goods has increased, not long to wait for a better purchase price. On the other hand, China's auto sales stagnant growth, the current demand enough to boost prices continue to rise, as supply growth remains stable. Rubber prices will slow up.

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