Rubber opened high and fluctuated, and the trend of futures fell slightly

News: 1.
In December 2019, Malaysia's tianjiao production continued to increase
year-on-year.
2.
In 2019, Malaysia's tianjiao exports decreased by 1.
3% year-on-year, and imports increased by 6.
7%.

3.
According to Longzhong information statistics, the start of semi-steel tire manufacturers last week was 10.
18%, flat month-on-month, down 4.
74% year-on-year; The start of all-steel tire manufacturers was 12.
06%, stable month-on-month, down 0.
94%
year-on-year.

Market quotation: Shanghai market 18-year state-owned full latex reported 11300 (+50) yuan / ton, Vietnam 3L reported 11500 (+50) yuan / ton, Thailand No.
3 tobacco film reported 13550 (+50) yuan / ton
.
Qingdao market STR20 stock spot reported 1380 (+5) US dollars / ton, Qingdao market STR20 January cargo reported 1385 (+10) US dollars / ton
.
Thai Hat Yai raw material market raw film 40.
74 (+0.
3) baht/kg; Tai San Tobacco Tablets 42.
22 (+0) THB/kg; Field glue 40 (+0.
3) baht/kg; 32.
8 (+0) THB/kg
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber 1502 market price 10400 (-400) yuan / ton; The market price of cis-butadiene rubber is 10400 (-400) yuan / ton
.

Warehouse receipt inventory: RU warehouse receipt 236760 tons, +0 tons; NR warehouse receipts 27,338 tons, +0 tons
.
Main positions: RU2005 Top 20 long positions 76566, -2116; short positions 113340, -1590; long and short decrease, net short increased
.
NR2003 Top 20 long positions 4130, -202; short positions 4207, -254
.

Summary: The delay in the resumption of work by tire companies will adversely affect short-term natural rubber demand, and the accumulation of inventory caused by the increase in imports in the early stage will also put pressure on rubber prices
.
However, at present, the world has entered a low production period, and southern Thailand will also stop cutting early due to weather impacts, and the supply side supports futures prices
.
The recent epidemic control performance is optimistic, downstream tire factories have recovered one after another, and demand has gradually opened
.
On the market, the RU2005 contract fluctuates around the 11500 line, and the market pays attention to the pressure around 11680, and it is recommended to trade in the 11300-11680 range in the short term; The NR2004 contract focuses on the pressure around 9800, and the short-term shock idea operation
.