Rubber continues to move sideways It is difficult to increase short-term sales

News: 1.
According to Longzhong Information statistics, as of the week of July 23, the operating rate of domestic semi-steel tire manufacturers was 66.
49%, up 1.
03% month-on-month and down 3.
15% year-on-year; The operating rate of all-steel tire manufacturers was 71.
62%, up 0.
46% month-on-month and 0.
43%
year-on-year.
2.
In the first half of 2020, Vietnam's mixed rubber exports to China increased by 1.
4%
year-on-year.
3.
In the first half of 2020, Thailand's exports of sky rubber decreased year-on-year, while the export of mixed rubber increased by more than 50%.

Market quotation: Shanghai market 18-year state-owned full latex reported 10700 (+0) yuan / ton, Vietnam 3L reported 10950 (+0) yuan / ton, Thailand No.
3 cigarette film reported 13050 (-50) yuan / ton
.
Qingdao market STR20 stock spot reported 1250 (-10) US dollars / ton, Qingdao market STR20 July cargo reported 1250 (-10) US dollars / ton
.
On July 27, the birthday of King Rama X of Thailand, Hat Yai Raw Material Market is closed
.
Domestic Yunnan Xishuangbanna glue into the dry rubber factory 9.
5-9.
9 yuan / kg, into the latex factory 10 yuan / kg
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber in North China 1502 market price 7600 (+0) yuan / ton; The market price of cis-butadiene rubber is 7700 (+0) yuan / ton
.

Warehouse receipt inventory: RU warehouse receipt 227110 tons, -3030 tons; NR warehouse receipts 35,210 tonnes, -1,411 tonnes
.
Main positions: RU2009 top 20 long positions 76355, -774; short positions 111149, -6753; long and short reduction, net short reduction
.

Summary: From the current fundamental point of view, the current Banna rubber tapping overall tends to normal, but the situation of less raw materials still exists, the competition between processing plants for raw material procurement is obvious, latex diversion part of the dry rubber production capacity, the current alternative planting indicators Puer, Xishuangbanna has announced the quota, it is reported that the indicator is more likely to be issued on August 10, when the domestic supply tension is expected to be eased
.
The production capacity of new rubber in the Thai production area has been released, and the raw materials in the production area are also gradually increasing
.
In terms of inventory, as of July 17, the inventory inside and outside the Qingdao Free Trade Zone continued to accumulate, and it was difficult to destock rubber during the peak supply season
.
In the downstream, there is still uncertainty in overseas epidemic control, and it is difficult for export orders to increase significantly in the short term; The domestic replacement market is in the seasonal off-season, and the market competition is fierce, and it is difficult to grow short-term sales
.
From the terminal point of view, the sales volume of heavy trucks is good, and the performance of tire supporting demand in the later period is expected to be better
driven by infrastructure.
Recently, rubber fundamentals have not changed much, price fluctuations are more from funds and market sentiment disturbance, intraday RU2009 contract closed slightly higher, short-term recommended to trade in the 10500-10900 range, NR2009 contract recommended to trade
in the 8500-8850 range.