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On Tuesday, the rubber RU2005 contract opened higher and lowered its position
.
The current day price closed at 10700, +4.
09% from the previous trading day; Volume 233908 lots, position volume 120067 lots, -7129, basis -300; RU5-9 spread -255.
NR2005 contract futures closed at 9000, +3.
75% from the previous session; The volume is 7744 lots, the position is 20038 lots, -131; the NR4-5 spread is -100
.
News: 1.
Affected by the epidemic, Vietnam's mixed rubber exports to China in February fell
year-on-year.
2.
Thai Rubber Authority: Actively promote the use of domestic rubber, because China's orders may be halved
.
3.
According to Longzhong information statistics, the operating rate of semi-steel tire manufacturers last week was 53.
34%, up 4.
02% month-on-month and down 9.
17% year-on-year; The operating rate of all-steel tire manufacturers was 56.
94%, up 3.
68% month-on-month and down 10.
17%
year-on-year.
Market quotation: Shanghai market 18-year state-owned full latex reported 10400 (+200) yuan / ton, Vietnam 3L reported 10600 (+200) yuan / ton, Thailand No.
3 tobacco film reported 12700 (+200) yuan / ton
.
Qingdao market STR20 stock spot reported 1275 (-50) US dollars / ton, Qingdao market STR20 January cargo reported 1280 (-45) US dollars / ton
.
Thai Hat Yai raw material market raw film 40.
9 (+0.
02) baht/kg; Tai San tobacco tablets 43.
8 (-1.
08) baht/kg; field glue 39.
3 (-1.
5) baht/kg; Cup gum 30.
85 (-2.
25) baht/kg
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber 1502 market price 9500 (-300) yuan / ton; The market price of cis-butadiene rubber is 9500 (-300) yuan / ton
.
Warehouse receipt inventory: RU warehouse receipt 238190 tons, - 30 tons; NR warehouse receipt 50421 tons, + 1411 tons
.
Main positions: RU2005 Top 20 long positions 60377, -2889; short positions 81419, -3712; long and short are reduced together, net short is reduced
.
Summary: International crude oil prices stopped falling and rebounded to drive rubber prices to rebound
.
However, due to the current crude oil price pulling down the cost of synthetic rubber, it will still have a certain negative impact
on the price of natural rubber.
In addition, the overseas epidemic has not yet been controlled, and the market share of tire exports to Europe and the United States is relatively high, which has suppressed demand
.
In addition, due to the continuous increase in early arrivals, Qingdao's inventory has continued to rise recently, and is now close to the highest level
in April last year.
Although the operating rate of domestic tire factories has rebounded significantly, most of them consume raw material inventories in the early stage, and the current finished product inventory of tire factories is also high, and the demand for natural rubber is limited
.
Considering that the world has entered a low production period, and the psychological threshold of 10,000 yuan will attract some funds from outside the industry to intervene, and the rubber price repairs part of the gap after the release of market panic, short-term attention to the pressure around 11,000, it is not recommended to be overly optimistic
.
