Commodity market: According to the monitoring of SunSirs, the main spot market of natural rubber (Baodao full milk) in East China in the second half of November (16-29) showed a "V" trend, with the highest point of 12,130 RMB/ ton on November 28, the lowest point of 11670 RMB/ ton on the 21st, and the maximum amplitude of 3.94% in half a month. Near the end of the month, the market reported 12,120 RMB/ ton on November 29, down 0.08% from the previous trading day, up 2.62% from the first half of the month (November 15), and down 13.24% year on year.

Industrial factor: SunSirs monitored that the spot price of natural latex continued to rebound 8.5% from the end of last month when the price of natural latex fell to the lowest point of 11,170 RMB/ ton to November 29. From the perspective of spot goods, the cutting in Xishuangbanna, Mengla and other places in Yunnan has been stopped in a large area, and the domestic supply side has stopped cutting in succession. The expected trend of low annual supply has begun, and the price of domestic glue has rebounded; In Southeast Asia, Thailand and Vietnam are affected by rainfall and their output is limited, but the spot price of latex continues to be low. At the same time, Thai rubber farmers are suffering from the high price of agricultural materials. Imported rubber from China's main ports has successively arrived at the port, and the inventory has continued to increase. The social inventory has entered the accumulation cycle, and the spot circulation is abundant. The price of domestic imported rubber has continued to be low. From the demand side, the downstream tire enterprises have a great pressure on tire supply. Although the operating rate has recovered, the finished products have been stockpiled, and the domestic and overseas demand is sluggish. It is naturally difficult for product enterprises to increase their purchase orders for raw rubber, and the rubber purchasing trend has not been substantially improved. Driven by the low position of warehouse orders and funds, the futures market rebounded. The spot rubber market fluctuated with the market, but the overall strength was not enough and the short-term strength was weak.

International crude oil futures closed higher on November 28. The settlement price of the main contract of US WTI crude oil futures was 77.24 dollars/barrel, up 0.96 dollars or 1.3%. The settlement price of the main contract of Brent crude oil futures was 83.89 dollars/barrel, up 0.18 dollars or 0.2%. The rumors of production reduction by the Organization of Petroleum Exporting Countries (OPEC+) and its allies (OPEC+) have brought good news to the market, and the market is waiting for the results of the OPEC+meeting on December 4.

According to the output law of natural rubber, domestic rubber has started to stop cutting, and the expected positive effect of output reduction is gradually emerging, and rubber prices are prone to rebound from low shocks; In the medium term, the natural rubber gradually enters the annual low yield area, which is driven by seasonal advantages. In the middle and later stages, when the supply is tight, the price will automatically enter the annual price rise period; In the short term, the spot supply is loose, the economic downturn is expected, the impact of public health events is increasing, the order demand situation is not improving well, and the momentum for the continuous sharp rise of natural rubber in the short term is insufficient.

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