Rubber market outlook is pessimistic

Shanghai natural rubber futures January contract fell 1.38% in the morning on the 8th. The downgrade of the US sovereign credit rating and the loss of market confidence in economic growth have driven the rubber market down. However, the Fed will likely introduce new quantitative easing measures in the near future and will limit short-term declines. Affected by the economic weakness, the growth of car sales will slow down significantly, and the downward trend in rubber has already taken shape. On the 5th, the New York Mercantile Exchange's September crude oil contract rose 25 cents to close at 86.88 US dollars a barrel, or 0.3%. According to statistics, the number of non-agricultural employment in the United States increased by 117,000 in July, better than expected.