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Rubber fell again on April 28, 2020, with main contracts down 1.05% and 9995 yuan / ton opened at 9890 yuan / ton. The futures market is green in large area.
Fundamentals continue to maintain the data update of the previous day. On the technical side, some analysts say that last week's weekly chart, rubber completed a weekly level center, trying to go down out of the center, where there is the possibility of forming a big bottom.
In March, the profit of Industrial Enterprises above Designated Size nationwide was - 36.7% year-on-year, with a decrease of 1.6 percentage points compared with that from January to February. Of all the 41 industrial categories, only tobacco and agricultural and sideline food increased significantly year-on-year. In addition, the high-tech manufacturing industry rose 0.5% year-on-year, greatly improving.
Domestic news came out again. In the morning of the 28th, in response to the deployment of "increasing the amount of re loan rediscount by 1 trillion yuan" proposed by the executive meeting of the State Council, the people's Bank of China recently issued the notice on increasing the amount of re loan rediscount to support small and medium-sized banks to increase the amount of credit for agriculture, small and micro enterprises and private enterprises, focusing on supporting local legal person financial institutions to increase the amount of credit for agriculture Small and micro enterprises and private enterprises' credit investment, leading to reduce financing costs.
In terms of epidemic situation, as of the 27th, 67000 newly confirmed cases had been confirmed outside China, down from 72000 on the previous day, to the lowest since April.
With the trend of future epidemic situation, economic recovery will gradually start. Rubber is greatly affected by the news, but the whole market may also usher in a wave of upward shocks after recovery.
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