Cost side support Shanghai rubber ushered in long opportunities

Domestic sales area market
.
14-year state-owned full latex 10700 (+150) in Shanghai; 14 years of Yunnan state-owned whole milk in Shandong 10700 (+150); The 14-year state-owned whole milk tax-free price in Hengshui was 10,550 (+50) yuan / ton, and the 15-year private full latex price in Yunnan was 10,750 (0) yuan / ton
.

The operating rate of downstream tire factories fell to the lowest of the year a year ago, and the operating rate of tire factories gradually increased as the tire factory resumed production after the year, and the operating rate of tire factories increased by about 5 points compared with the same period last year, and this year's downstream demand was slightly better
than last year.

In terms of inventory, the high level of inventory in the bonded zone fell
.
Since the second half of last year, with the arrival of the cutting season of rubber-producing countries, the inventory of the bonded area has continued to increase, reaching a peak of 278,100 tons in mid-February, and then the suspension of cutting in foreign rubber-producing countries has affected the reduction of rubber imports, and the inventory of the bonded area has gradually declined
.
As of March 15, the total inventory in the bonded zone fell to 265,800 tons, of which 229,900 tons were in tianjiao stock, 30,100 tons in synthetic rubber and 05,800 tons
in composite rubber.
In April and May, as imports from major producing countries are still in the period of suspension, inventories in the bonded zone are expected to continue to decline
.

It is worth noting that there is support
on the current rubber cost side.
At present, the total cost of domestic rubber is about 15,000 yuan / ton
.
The cost of foreign Thai tianjiao is about 38 baht / kg (equivalent to 1075 US dollars / ton), and the cost of large rubber garden is 48 baht / kg (equivalent to 1358 US dollars / ton).

The cost in Malaysia is about 5.
9 ringg$/kg (US$1435/ton), and the cost in Indonesia is similar to Thailand
.
Due to the continuous decline in the price of tianjiao in recent years, it has fallen below the cost of tianjiao in some rubber-producing countries, and the phenomenon of abandonment in some regions has occurred, and the cost side also constitutes support for rubber prices
.