On April 26th, Hujiao opened slightly higher but quickly fell back. The main 1309 contract closed at 19,215 yuan per ton, gaining 150 yuan. On the previous day (April 25), rubber continued its steady rebound, and it opened higher on Thursday, only to gradually decline during the session. With the holiday season approaching, many traders who had taken short positions exited the market, focusing more on the afternoon trend.
The Tokyo Industrial Exchange (TOCOM) rubber index rose for a second consecutive trading day on Thursday, reaching a one-week high. This was supported by the yen’s strength against the dollar, which remained around 100 yen, as well as optimistic expectations for demand. The TOCOM October contract settled at 259.1 yen per kilogram, up 0.8%. Meanwhile, positive repurchase activity in the Chinese market ended a nine-week streak of reverse repurchases. The Bank of Japan reiterated its 2% inflation target, while Germany’s improved economic growth forecasts and other positive news pushed external markets higher.
Domestic commodities in China mostly followed the upward trend from overseas, opening sharply higher. However, the market soon became volatile, with sharp swings between gains and losses. It appears that the current rally is driven more by oversold conditions rather than strong fundamentals. The short-term profit-taking pressure has been significant, and the spread between the highest and lowest points of Hujiao reached over 500 points.
In the early stages of the session, Hujiao hovered around 23,000, with many traders closing their short positions before the market close. The current downturn in Hujiao has been largely influenced by macroeconomic data, with the midline at 20,000 acting as a key resistance level. As we move into May, the probability of Hujiao making a meaningful recovery increases. Therefore, it may not be advisable to maintain large short positions at this point. Investors should monitor the market closely and consider adjusting their strategies accordingly.polishing machine，polishing machine，polishing machine
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