April 20 Shanghai rubber morning review

With the collapse of the Doha oil-producing countries meeting last Sunday, the bearish factors of the sharp drop in oil prices were digested by the market, domestic black commodity futures continued to play a leading role, and the overnight crude oil futures rebound to more than $40 / barrel also boosted Shanghai rubber futures to maintain a rebound pattern
.
Crude oil futures surged on Tuesday as the market ignored the failure of oil producers to reach a freeze production agreement and focused on supply disruptions to curb the global crude oil glut; NYMEX crude oil futures for May rose 3.
3 percent to close at $
41.
08 a barrel.
The overnight Shanghai rubber 1609 contract rose 1.
78% to close at 12,900 yuan / ton
.

Spot market: the 14-year quotation of state-owned whole milk in the Shanghai market is about 12050 (+200) yuan / ton; Vietnam's 3L quotation is 12900-13000 (+100/+100) yuan/ton; Thai No.
3 tobacco tablets 12850-12900 (+150/+150).

Thai Hat Yai raw material market raw film 53.
85 (+0.
3) baht/kg; Tai San Tobacco Tablets 57.
82 (+0.
52) THB/kg; field glue 57 (+0.
5) baht/kg; Cup glue 46 (+0.
5) baht/kg
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber 1502 market price in East China 12900 yuan / ton (-100), cis-butadiene rubber market price 11800 yuan / ton (0).

News side: 1.
The cost has increased, and domestic tire companies have raised tire prices
.
2.
Although rubber prices continue to rise, Indian rubber farmers still refuse to return to plantations
.
3.
Thailand's new credit loan program promotes domestic consumption of
Tianjiao.

Warehouse receipt inventory: Exchange warehouse receipts were reported at 260,100 tons, a decrease of 70 tons
.

Thailand's government procurement of tobacco tablets and Indonesia's storage and storage pushed up overseas raw material prices, while Qingdao Free Trade Zone inventory is still declining, and the operating rate of downstream tire factories has continued to rise, but with the rise in raw material prices, tire factory profits are compressed, and the market needs to pay attention to the operating rate
.
In addition, the domestic rubber production areas have been cut one after another, and the Yunnan production area has ushered in a full cut, and the supply and demand of raw materials are tight or alleviated
.
However, the quotation of synthetic rubber remains strong, and there is still a certain boost to natural rubber
.
Overnight, the Shanghai rubber 1609 contract soared, paying attention to the pressure in the 12900-13000 range, and preventing the risk of a high pullback in the futures price in the short term, it is recommended to trade
in the 12200-13000 range.