Inventory pressure concentrated cashing Shanghai rubber shock finishing is the mainstay

Night trading: Shanghai rubber RU1901 contract opening price 12045 yuan / ton, the highest price 12145 yuan / ton, the lowest price 12020 yuan / ton, the closing price 12045 yuan / ton; Up 0 yuan / ton, an increase of 0%.

The opening price of the Nippon 1903 contract is 166 yen/kg, the highest price is 167.
5 yen/kg, the lowest price is 165.
5 yen/kg, and the closing price is 166.
8 yen/kg; The trading volume is 1930 lots, and the position volume is 12801 lots
.

Domestic sales area market quotation: Shanghai market, Yunnan 17 years full latex quotation 10700/10800 (-100/-100) yuan / ton; Shandong market, Yunnan 17 years full latex quotation -(-) yuan/ton; Hengshui market, Yunnan 16-year whole milk tax quotation 11000 (-100) yuan / ton, Yunnan market, 17 years full latex quotation 10700/10800 (-) yuan / ton
.

The last natural rubber futures warehouse receipt decreased by 370 tons
compared with yesterday.
The warehouse receipt of natural rubber futures in the last period was reported at 515,000 tons
.
Among them, Shanghai decreased by 310 tons, Yunnan decreased by 200 tons, Shandong increased by 260 tons, Tianjin decreased by 120 tons, and Hainan Ping
.

As of October 16, 2018, rubber stocks in Qingdao Free Trade Zone fell by 31%.

The inventory of natural rubber and synthetic rubber continued the sharp adjustment at the end of September
.

The Shanghai rubber RU1901 contract fluctuated at a low level on Friday and was flat
overnight.
From the 60-minute K-line chart, the K-line oscillated near the 5-day and 10-day moving averages, and the technical indicator MACD green column turned red; On the daily chart, the K-line fell back below the 5-day moving average, and the technical indicator MACD green column continued
.
The trading volume and position volume decreased, and the technical picture was weak
.
The top 20 members held positions, long 76356 (+93), short 109719 (-1835), net short 33363 lots
.

Views and operational suggestions: On October 20, the Ministry of Finance and the State Administration of Taxation, together with relevant departments, drafted the Interim Measures for Special Additional Deductions for Individual Income Tax (Draft for Comments), which began a two-week public consultation on the official websites of the two departments
.
According to the Interim Measures, the special additional deduction standard is not static, and will be adjusted
in due course with changes in people's livelihood expenditures such as education, housing, and medical care.
It is reported that the interim measures will be implemented
on January 1, 2019 after being released to the public for comments.

As of the close of the night trading at 11-01, the spread closed at 1390 yuan / ton, and the mixed spot of premium water on the plate was 1395-1545 yuan / ton
.
The stock of the exchange exceeded 510,000 tons, and the inventory in the bonded area continued to decline, on the one hand, tire companies were actively stocked before the holiday, on the other hand, there were some factors of warehouse transfer, and the situation of outbound storage in and outside the area improved, but the market terminal consumption was not good, the car market was cold, the sales data of heavy trucks and passenger cars fell, the industry looked forward to policy dividends, and the market released a signal of burden
reduction for advice on the individual tax deduction method on Saturday 。 The spot market is relatively resistant to decline, the arbitrage profit after the basis narrows continues to compress, the logic of the return to the future in mid-to-late October is reopened, inventory pressure or concentrated cashing, we expect that Shanghai rubber will still be dominated by shock sorting, and the 12,000 yuan / ton integer mark is repeatedly tested within the day
.