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On Tuesday, February 4, the rubber RU2005 contract opened lower and higher, closing slightly lower
.
The price closed at 11040, -0.
94% from the previous session; Volume 216238 lots, position volume 174754 lots, -12433, basis 50; RU5-9 spread - 275
.
The NR2004 contract futures closed at 9285, -1.
01% from the previous session; Volume 9747 lots, open position 15899 lots, -12
.
News: 1.
China's tire tire production in 2019 increased by 1.
9%
year-on-year.
2.
According to the news of Côte d'Ivoire on January 22, Côte d'Ivoire exported 756,876 tons of natural rubber from January to November, an increase of 19%
over the same period last year.
3.
According to Longzhong Information, as of January 30, the operating rate of semi-steel tire sample enterprises was 10.
18%, down 14.
30% from before the holiday, and the overall operating rate in January was 40.
43%, down 24.
41%
from the previous month.
The operating rate of the all-steel tire sample enterprises was 12.
06%, down 17.
99% from before the holiday, and the overall operating rate in January was 46.
21%, down 22.
37%
from the previous month.
Market quotation: Shanghai market 18 years state-owned full latex report 10900 (-50), Vietnam 3L report 11150 (+0), Thailand No.
3 tobacco film report 13200 (+0).
Thai Hat Yai raw material market raw film 39.
6 (+0.
21) baht/kg; Tai San Tobacco Tablets 40.
7 (+0.
29) THB/kg; Field glue 39.
5 (-0.
3) baht/kg; 32.
3 (-1) baht/kg
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber 1502 market price 10800 (-300) yuan / ton; The market price of cis-butadiene rubber is 10800 (-300) yuan / ton
.
Warehouse receipt inventory: RU warehouse receipt 236760 tons, +0 tons; NR warehouse receipts 21,491 tons, +1,028 tons
.
Main positions: RU2005 Top 20 long positions 88053, -1911; Short position 120352, -9181; long and short are reduced together, net short is reduced
.
NR2003 Top 20 long positions 5426, -466; short positions 5519, -381
.
Summary: The delay in the resumption of work by tire companies will adversely affect short-term natural rubber demand, and the accumulation of inventory caused by the increase in imports in the early stage will also put pressure on rubber prices
.
However, at present, the world has entered a low production period, and southern Thailand will also stop cutting early due to weather impacts, and the supply side supports futures prices
.
The RU2005 contract rebounded after opening sharply low during the day, paying attention to whether the futures price can stand firm at the 11000 line, and short-term can try to absorb long orders on the dip; The NR2004 contract is recommended to trade
in the 9000-9600 range for short term.
