September 28th Shanghai rubber morning review

NEW YORK, Sept 27 -- Oil prices slipped on Tuesday, with investors skeptical of the possibility of OPEC reaching a deal to limit production
.
NYMEX crude oil futures for October ended down $1.
26, or 2.
7 percent, at $
44.
67 a barrel.

News: In August 2016, China exported 44.
98 million tires, up 19.
6% y/y and up 0.
5%
m/m.
Compared with the previous month, the growth momentum of exports slowed down and was basically stable
.
From the perspective of major export countries, the number of exports to the United States in August showed a year-on-year double decline, affected by the double reverse, continued to decline by 13.
4% year-on-year, down 10.
3% month-on-month, and orders in the US market continued to shrink.

The European market performed relatively well, with the United Kingdom and Germany growing sharply year-on-year, while Brazil and Saudi Arabia increased by 101.
1% and 82.
9% respectively
.
In the case of the shrinking US market, China's tire exports have played a great support
.

Spot market: the 15-year quotation of state-owned whole milk in the Shanghai market is about 11000 -11050 (-200/-250) yuan / ton; Vietnam 3L quotation 11600-11700 (0/0) yuan/ton; 15 years Thailand No.
3 tobacco sheet 13200-13450 (-200/+50) yuan/ton; RMB mixed rubber 11900 (-100) yuan / ton
.
Thai Hat Yai raw material market raw film 51.
18 (-0.
99) baht/kg; Tai San tobacco tablets 53.
8 (-0.
41) baht/kg; field glue 50.
5 (-0.
5) baht/kg; Cup glue 44.
5 (0) baht/kg
.
Synthetic rubber: Qilu petrochemical styrene rubber 1502 market price in East China 12000 yuan / ton (+100); The market price of cis-butadiene rubber is 13800 yuan / ton (+200).

Warehouse receipt inventory: Exchange warehouse receipts were reported at 283,910 tons, a decrease of 940 tons
.

At present, the operating rate of all-steel and semi-steel of domestic tire factories is higher than the same period last year, and the sales volume of heavy-duty truck market has increased year-on-year, indicating that the overall downstream demand performance is better
.
From the perspective of circulation, as of mid-September, rubber stocks in Qingdao Free Trade Zone fell by 11.
5%, a new low
in nearly five years.
The overall price of raw materials in Thailand has retreated slightly, but the recent sharp rise in synthetic rubber has supported the price of natural rubber
.