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On Tuesday, the rubber RU2105 contract increased its position and contracted, and the futures price closed lower
.
The current price closed at 14605, -2.
05% from the previous trading day; Volume 481665 lot, position volume 195746 lot, +2071, basis -655; RU1-5 spread - 245
.
The NR2102 contract futures closed at 10515, -3.
09% from the previous session; Volume 12510 lots, position volume 28240 lots, +555; NR01-02 spread -75
.
News: 1.
General Administration of Customs: China's rubber imports in November increased by 12% year-on-year to 711,000 tons
.
2.
Cambodia exported more than 240,000 tons of rubber in the first 10 months
.
3.
China Association of Automobile Manufacturers: November vehicle sales are expected to increase by 11.
1%
y/y.
4.
China Automobile Dealers Association: The auto dealer inventory warning index in November was 60.
5%.
Market quotation: Shanghai market 19-year state-owned full latex reported 13950 (+100) yuan / ton, Vietnam 3L reported 13650 (+150) yuan / ton, Thailand No.
3 tobacco film reported 18800 (+150) yuan / ton
.
Qingdao market STR20 warehouse spot reported 1630 (+0) US dollars / ton, Qingdao market STR20 December cargo reported 1640 (+0) US dollars / ton
.
Thailand Hat Yai raw material market field glue 56 (-1) baht/kg; Cup glue 40.
25 (-0.
75) baht/kg
.
Banna stopped cutting, glue price is not available; Hainan state-owned glue into the whole dairy plant to produce whole milk 13300 (-200) yuan / ton, into the concentrated milk factory to produce concentrated milk 13300 (-200) yuan / ton
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber 1502 in North China market price 12100 (+0) yuan / ton; The market price of cis-butadiene rubber is 11500 (+0) yuan / ton
.
Warehouse receipt inventory: RU warehouse receipt 125740 tons, + 1200 tons; NR warehouse receipt 44281 tons, +0 tons
.
Main positions: RU2105 top 20 long positions 89924, +1374; short positions 129870, -1042; increase and decrease short, net space decreases
.
Summary: At present, the global production area has entered the end of the high production period and the beginning of the production reduction period, the domestic Yunnan production area has entered the suspension period, and the Hainan production area has the expectation of early suspension due to the rapid drop in temperature, and the production of full latex continues to shrink
.
Heavy rainfall in southern Thailand is expected to decrease and raw material output will return to normal
.
In terms of inventory, the inventory of dark rubber in Qingdao has accumulated, the inventory of light rubber is relatively stable, and there is an overall expectation of accumulation; Low futures inventories continue to support prices
.
On the demand side, the operating rate of tire factories was slightly adjusted month-on-month, most manufacturers' export orders were sufficient, and the active scheduling was still high, but affected by the rise in ocean freight, the delivery time of some export orders was delayed, and the later operating rate is also expected to be suppressed
.
On the market, RU2105 contract increased positions to close down, short-term attention to the 14600 first-line support, if it falls below may further test down to the 14150 position, it is recommended to temporarily wait and see or range short-term trading; The NR2102 contract focuses on the 10500 line of support and is recommended to trade
in the 10500-10800 range.
