Rubber contracts opened high and fluctuated, and futures prices closed slightly higher

News: 1.
Four departments: The subsidy standard for new energy vehicles will be reduced by 20%
from 2020.
2.
The second phase of the special action to strengthen air pollution control in Shandong Province from winter 2020 to spring 2021 will be mobilized and deployed
.
3.
According to Longzhong Information, the operating rate of domestic semi-steel tire manufacturers last week was 49.
35%, down 1.
53% month-on-month and 10.
07% year-on-year; The operating rate of all-steel tire manufacturers was 52.
18%, down 1.
05% month-on-month and 6.
89%
year-on-year.
4.
China has become Malaysia's largest trading partner for the 11th consecutive year, with a significant increase in imports and exports of gloves and masks
.

Market quotation: Shanghai market 19 years state-owned full latex reported 13650 (+100) yuan / ton, Vietnam 3L reported 13250 (-50) yuan / ton, Thailand No.
3 tobacco film reported 19000 (+100) yuan / ton
.
Qingdao market STR20 stock spot reported 1635 (+15) US dollars / ton, Qingdao market STR20 January cargo reported 1635 (+15) US dollars / ton
.
Thailand Hat Yai raw material market field glue 51 (+1) baht/kg; Cup glue 38.
5 (+0.
4) baht/kg
.
Hainan state-owned glue into the whole dairy plant to produce whole milk 12500 (+0) yuan / ton, into the concentrated milk factory to produce concentrated milk 13200 (+0) yuan / ton
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber 1502 market price 11100 (+0) yuan / ton; The market price of cis-butadiene rubber is 10200 (+0) yuan / ton
.

Warehouse receipt inventory: RU warehouse receipt 161270 tons, +0 tons; NR warehouse receipt 47295 tons, + 403 tons
.
Main positions: RU2105 top 20 long positions 95089, -488; short positions 143060, + 3320;

Summary: At present, the domestic production areas have entered the period of suspension, although Thailand is still in the peak production period, but the epidemic in Southeast Asia continues to spread, the lockdown measures continue to tighten, coupled with the tight ship space and high freight rates, there is an expectation of reduction in production and export volume; In addition, there is still a warning of heavy rainfall in southern Thailand in recent days, and it is heard that there is leaf fall in some areas, and the supply of raw materials is slightly tight
.
In terms of inventory, as of the end of December, domestic dark rubber stocks stopped falling slightly week-on-week, significantly higher than the same period last year; Light-colored rubber inventories rose slightly week-on-week, still significantly lower than the same period last year; Futures inventories continue to accumulate, but at a slower
pace.
On the demand side, Shandong environmental protection production restrictions lifted, tire starts are expected to rise month-on-month, considering that the end of January may be early peak shift, tire factories generally pull up the inventory of finished products, short-term demand for natural rubber has been boosted, but the medium-term operating rate will continue to be constrained by tight containers and rising sea freight
.
On the market, the RU2105 contract continues to focus on whether the futures price can stand firm at 14400 in the short term, and if it successfully breaks through, it is expected to further test 14800; The NR2103 contract is recommended to trade
in the 10550-10900 range for short term.