The import tariff of rubber will be significantly reduced, and the price of natural rubber hit a new high in the year.
yesterday, the price of natural rubber at home and abroad suddenly broke out, and at the same time, it set a new record since 2009. The news that China will adjust rubber import tariffs in 2010 has become the main factor driving rubber prices to rise sharply
the Ministry of finance of China recently announced that in 2010, China will continue to implement selective tax on natural rubber and appropriately reduce the specific tax standard. According to the tax rate table, China's natural rubber import tariff was reduced by 23% in 2010, from 2600 yuan/ton in 2009 to 2000 yuan/ton; The import tariff of cigarette glue was reduced by nearly 38%, from 2600 yuan/ton in 2009 to 1600 yuan/ton
"the reduction of China's rubber import tariffs next year makes the market expect a sharp increase in China's demand and an increase of more than us56 billion yuan, which has become a reason for speculation in the international rubber market." Lin Hui, deputy general manager of the research department of Dongzheng futures, told CBN, "although the actual effect of tariff adjustment is still unknown, China's huge automobile consumption in 2009 undoubtedly showed the market the potential demand for rubber in China."
market participants believe that the reduction of rubber import tariffs, like an appetizer, will make China's "appetite" for rubber imports
affected by China's adjustment of tax rates, yesterday, the main contract of natural rubber on Japan's Tokyo industrial products exchange (TOCOM) jumped high in May, and rose in intraday fluctuations. It once reached an increase and can dynamically switch to the stop position in real-time graphics during the test. In the subsequent electronic trading session, the contract price continued to rise, reaching 266.9 yen/kg at 16:40 Beijing time, a new high since 2009
the futures price of natural rubber contract on Shanghai Futures Exchange also showed the characteristics of high opening and high going. The main 1005 contract closed at the highest price, at 23100 yuan/ton, an increase of 4.76%, setting a high since the rebound in 2009
on the surface, China's reduction of rubber import tariffs is good news for the international market and bad news for China. However, rubber prices at home and abroad rose at the same time yesterday. In this regard, Lin Hui believes that although China has reduced the tariff of rubber, the reduction is less than the market expected, because the market expects that the zero tariff of China ASEAN trade in 2010 will bring lower import tariffs. The new collection standard has prevented more natural rubber from flowing into the Chinese market, driving up prices
however, market participants also have some concerns about the sudden outbreak of the price of natural rubber yesterday
Soochow futures analyst song Lu pointed out that from the perspective of the position structure of natural rubber in the Shanghai Futures Exchange, there are signs of withdrawal of short positions in the market at present, and the withdrawal of short positions is not helpful to the rise of rubber prices. Yesterday's market was a sudden trend, which is suspected of short-term speculation. On the other hand, the US dollar and HPM developed a wide range of flame retardant products through the central monitoring system Remote monitoring and fault diagnosis are still in the rebound trend, and the strength of the dollar will restrict the rise of Shanghai Jiaotong
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