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Meierya Futures: Shanghai Jiao soared to Tianwaitian daily limit to usher in the spring, February 6, 2006

on the first day of the year, Shanghai Jiao 604 contract jumped up and closed by daily limit, ending at 22855 yuan/ton. The transaction throughout the day was extremely shrinking due to daily limit, but the position increased abnormally to 25760 hands. Tokyo rubber rose sharply during the Spring Festival, and today the sharp rise of various varieties of Chinese futures sent a big gift package to Shanghai Rubber long traders

Tokyo Jiao's main contract rose sharply during the Spring Festival in July, surpassing the peak of nearly 20 years, but a large number of long floating profits accumulated at the high level. It fell rapidly after hitting a new high of 274.9 yen today, closing at 258.5 yen/kg. Thailand's quotation for China's major ports has reached 2150 US dollars/ton, and China's Hainan quotation has been increased to 21200 yuan/ton. In view of the 20% recovery and 18% reduction, there is no need to dispel the expectation of the consumption peak season after the Chinese New Year. Because steel mills buy goods with the mentality of buying up rather than buying down, suppliers have raised the sales price one after another, so that whether the No. 5 standard glue can be sold at a price of more than 22000 tons has become a complaint of spot users. Because with the high-end consumption of Chinese cars, the degree of radial tires is constantly improving, and No. 5 standard rubber can only be the main raw material of bias tires, and its applicability is greatly reduced. Judging from the trend of Shanghai Rubber and Tokyo rubber in the past two months, the price has risen rapidly, which means the end of the bull market. Today, the sharp decline of Tokyo rubber is not only a washing up behavior, but also a signal that the demand and technical requirements for plastic granulators are constantly improving at this stage. At present, the technical indicators of Shanghai Jiao are still strong, but there are signs of overbought. According to the regulations of the exchange, the 604 contract will rise or fall by 6%, which does not rule out that Shanghai Jiao will fluctuate sharply

trading suggestion: hold or buy 604 contracts on bargain hunting, with a medium-term target of 23000

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