Shanghai rubber warehouse reduction and shrinkage supply pressure is still obvious

News: 1.
IRCO: Cut the export of Tianjiao by 240,000 tons
since April 1.
2.
In 2019, US tire shipments may decrease by 0.
7%.

3.
In the first two months, China's imports of natural and synthetic rubber fell by 7.
9%
year-on-year.

Market: the quotation of 17-year state-owned whole milk (Yunxiang) in the Shanghai market was 11650 (0) yuan / ton; Vietnam 3L quotation 11500 (-50) yuan / ton; Thailand No.
3 tobacco flakes 13250 (-50) yuan/ton; Yunnan 18 years full latex 11950 (-50) yuan / ton
.
Thai Hat Yai raw material market raw film 47.
75 (-0.
16) baht/kg; Tai San tobacco tablets 51.
2 (+0.
6) baht/kg; field glue 50.
25 (+0.
25) baht/kg; Cup glue 40 (-0.
5) baht/kg
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber 1502 market price in East China 11700 (0) yuan / ton; The market price of cis-butadiene rubber is 11900 (0) yuan / ton
.

Warehouse receipt inventory: warehouse receipt 423350 tons, +200, still at a high level
.
Main positions: Top 20 long positions 71872, +166, short positions 96923, -617
.
More space, less headroom
.

At present, the global natural rubber production areas have entered a low production period
.
The rubber export reduction plan of the three countries of India, Malaysia and Thailand has boosted the Shanghai rubber market, but the actual effect remains to be seen
.
After the holiday, tire factories resumed work one after another, and the operating rate gradually recovered
.
Although China's rubber imports fell year-on-year in January, from the perspective of inventory, exchange inventories and stocks outside the bonded zone continued to increase, and the supply pressure was still obvious
.
Technically, the RU1905 contract is supported around 12000 below, and it is recommended to trade
in the 12000-12500 range in the short term.