Inventories continued to increase, and Shanghai rubber futures prices closed down

News: 1.
ANRPC: In 2019, the natural rubber planting area and rubber tapping area maintained growth, and the yield declined
.
Sales of excavators in February and March increased by 15.
7%
year-on-year.
In March and March, sales of heavy-duty trucks exceeded a record high of 140,000 units
.

In terms of market: the 17-year quotation of state-owned whole milk (Yunxiang) in the Shanghai market was 11050 (-200) yuan / ton; Vietnam 3L quotation 11100 (-200) yuan / ton; Thailand No.
3 tobacco flakes 12950 (-200) yuan/ton; Yunnan 18 years full latex 11400 (-100) yuan / ton
.
Thai Hat Yai raw material market raw film 51.
65 (+0.
6) baht/kg; Tai San tobacco tablets 54.
4 (+0.
05) baht/kg; field glue 51.
5 (+0.
5) baht/kg; Cup glue 41.
5 (+1) baht/kg
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber 1502 market price in East China 11000 (0) yuan / ton; The market price of cis-butadiene rubber is 11200 (0) yuan / ton
.

Warehouse receipt inventory: warehouse receipt 424600 tons, +2290 tons
.
Main positions: Top 20 long positions 103410, +3760, short positions 131756, +7566
.
Long and short increase at the same time, headroom increases
.

At present, Yunnan production areas have been cut one after another, the supply has not yet been on the volume, and the rubber export tonnage plan of India, Malaysia and Thailand has begun to be implemented, but the actual effect may be limited
.
Recently, the operation of domestic tire factories is generally good, and from the export data, exports fell significantly
in the first two months of this year.
Although China's rubber imports have recently declined year-on-year, from the perspective of inventory, exchange inventory and inventory outside the bonded zone have continued to increase, and the supply pressure is still obvious
.
Technically, the RU1909 contract is eyeing support around 11600 and the short-term recommendation is to trade
in the 11600-11950 range.