Shanghai rubber low opening shock facing a rebound correction

In terms of spot: the 15-year quotation of state-owned whole milk in the Shanghai market is 12150-12200 (-200/-150) yuan / ton; Vietnam 3L quotation 12900 (-100) yuan / ton; 15 years Thailand No.
3 tobacco flakes 14600 (-250) yuan / ton
.
Thai Hat Yai raw material market raw film 50.
9 (-0.
88) baht/kg; Tai San tobacco tablets 53.
98 (+0.
1) baht/kg; Field glue 50 (0) baht/kg; Cup glue 43 (-0.
5) baht/kg
.

Synthetic rubber: Qilu petrochemical styrene rubber 1502 market price in East China 12800 (-200) yuan / ton; The market price of cis-butadiene rubber is 13400 (-200) yuan / ton
.

News: 1.
As of September 19, rubber stocks in Qingdao Free Trade Zone fell by about 8%.

2.
In order to protect its own tire enterprises, India imposed anti-dumping duties
on China.

Summary of views: From the perspective of inventory, the recent continuous decline in rubber inventory in Qingdao Free Trade Zone provides support for a period of time, while the monthly sales data of domestic heavy trucks continue to perform strongly, indicating that terminal demand is performing better
.
However, from the downstream situation, the operating rate of domestic all-steel tires and semi-steel tires has continued to decline year-on-year, and environmental protection inspections have made it difficult for the factory operating rate to increase significantly, and the downstream consumption of natural rubber has been restricted
.
The Shanghai rubber 1801 contract faces a rebound correction after a rapid decline, and it is recommended to trade
in the 14000-15650 range in the short term.