Shanghai rubber reduced its position and increased its futures price

News: 1.
Brazil imposes 5-year anti-dumping duties
on Chinese tires.
2.
Michelin North America announced another price
increase.
In March and June, U.
S.
tire imports from China fell
year-on-month.

Market quotation: the quotation of 17-year state-owned whole milk (cloud elephant) in the Shanghai market is 10300 (+100) yuan / ton; Vietnam's 3L quotation is 10750 (+50) yuan / ton; Thailand No.
3 tobacco tablets 12700 (+200) yuan/ton; Yunnan 18 years full latex 10500 (-100) yuan / ton
.
The purchase price of natural rubber fresh glue and dry rubber of Hainan state-owned rubber processing plant remained stable at 9500 yuan / ton / ton
.
Thai Hat Yai raw material market raw film 38.
88 (-0.
42) baht/kg; Tai San tobacco tablets 39.
21 (-2.
29) baht/kg; Field glue 38 (-0.
5) baht/kg; Cup gum 31.
5 (-0.
5) baht/kg
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber 1502 market price in East China 10400 (+100) yuan / ton; The market price of cis-butadiene rubber is 10500 (+0) yuan / ton
.

Warehouse receipt inventory: warehouse receipt 412370 tons, -60 tons
.
Main positions: the top 20 long positions 53796, -4748; short positions 73154, -6743
.
Long and short are reduced together, and headroom is reduced
.

Summary: At present, domestic and foreign production areas are in the rubber tapping period, and the supply is gradually increasing
.
The recent sharp drop in raw material market prices in Thailand indicates that the source supply is sufficient
.
Although stocks outside the bonded zone have continued to decline recently, Thailand's exports of Chinese standard rubber increased sharply in June, and inventories will still recover
as imported sources continue to arrive at Hong Kong.
On the demand side, domestic heavy-duty truck sales in July fell sharply again month-on-month, coupled with the current domestic tire consumption gradually entering the off-season, the operating rate of domestic tire factories continued to decline, and the demand side was not optimistic
.
However, the current price has fallen into the cost range, and the all-latex sticker mixed rubber may make the futures price decline space limited
.
Technically, after the rapid decline of the previous price, the lower support role appeared, the RU1909 contract reduced its position and rebounded, but the upper pressure was under pressure around 10650, and it was recommended to trade
in the 10200-10650 range in the short term.