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Affected by the collapse of international crude oil on Monday, the rubber RU2005 contract opened sharply low and then fluctuated, and the futures price closed down several times
.
The current price closed at 10290, -5.
9% from the previous trading day; Volume 225092 lots, position volume 127196 lots, -7130, basis -90; RU5-9 spread -280
.
The NR2005 contract futures closed at 8650, -6.
33% from the previous session; The trading volume is 11248 lots, the position is 20169 lots, +1323; NR4-5 spread is -120
.
News: 1.
General Administration of Customs: From January to February 2020, China's rubber imports increased by 6.
7% year-on-year to 1.
056 million tons
.
2.
Lao rubber exports show a growth trend
.
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 10200 (-500) yuan / ton, Vietnam 3L reported 10400 (-550) yuan / ton, Thailand No.
3 tobacco film reported 12500 (-550) yuan / ton
.
Qingdao market STR20 stock spot reported 1325 (-10) US dollars / ton, Qingdao market STR20 January cargo reported 1325 (-15) US dollars / ton
.
Thai Hat Yai raw material market raw film 40.
88 (-1.
11) baht/kg; Tai San tobacco tablets 44.
88 (-0.
11) baht/kg; field glue 40.
8 (-0.
9) baht/kg; 33.
1 (-0.
2) THB/kg
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber 1502 market price 9800 (+0) yuan / ton; The market price of cis-butadiene rubber is 9800 (+0) yuan / ton
.
Warehouse receipt inventory: RU warehouse receipt 238220 tons, - 180 tons; NR warehouse receipt 49010 tons, + 1007 tons
.
Main positions: RU2005 Top 20 long positions 63467, - 148; short positions 85173, - 6235; long and short with reduction, net space reduction
.
Summary: Affected by the collapse of international crude oil prices, rubber prices have been closed several times
.
As the collapse in crude oil prices has lowered the cost of synthetic rubber, it will 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 is currently entering a low production period, and the 10,000 yuan psychological threshold will attract some funds from outside the industry to intervene, it is expected that the space below is limited, and the market panic may be expected to repair the current gap, but it is not recommended to be overly optimistic
.
