June 29 Shanghai rubber morning review

NYMEX crude futures rose on Tuesday as Norwegian workers went on strike and the market expected a decline
in U.
S.
crude inventories.
NYMEX crude oil futures for August ended up 3.
3 percent at $
47.
85 a barrel.

Spot market: the 14-year quotation of state-owned whole milk in the Shanghai market is about 10750 (+150) yuan / ton; Vietnam's 3L quotation is at 10800 (+200) yuan / ton; 15 years Thailand No.
3 smoke 12450 (+150) yuan / ton; RMB mixed rubber 10100-10200 (+300/+400) yuan/ton
.
Thai Hat Yai raw material market raw film 53.
83 (+0.
54) baht/kg; Tai San tobacco tablets 56.
49 (+0.
7) baht/kg; Field glue 47 (0) baht/kg; Cup gum 38.
5 (0) baht/kg
.

News: 1.
In the first half of 2016, Vietnam's rubber exports increased by 3.
1% to 427,000 tons
.
2.
The China Association of Automobile Manufacturers lobbied the government to permanently reduce taxes
on small cars.

Warehouse receipt inventory: Exchange warehouse receipts reported 300,840 tons, an increase of 1,540 tons
.

Summary of views: Qingdao Free Trade Zone inventory fell, and heavy-duty truck sales continued to grow sharply year-on-year in May, and China's tire exports increased by 9%, indicating that downstream demand performance is acceptable
.
With the successive opening of domestic rubber production areas, the supply of raw materials began to increase, and the price of glue fell, but the absolute price of Shanghai rubber is currently low, and there is still strong support
at the 10,000 yuan mark.