Rubber contracts range-bound futures prices closed slightly lower

News: 1.
According to Longzhong Information statistics, as of the week of May 8, the operating rate of domestic semi-steel tire manufacturers was 27.
66%, down 22.
84% month-on-month and 38.
05% year-on-year; The operating rate of all-steel tire manufacturers was 57.
31%, down 3.
28% month-on-month and 13.
71%
year-on-year.
2.
Passenger car sales: April passenger car sales decreased by 5.
6% y/y and increased by 36.
6%
m/m.
In March and April, the inventory coefficient of Chinese auto dealers was 1.
76, down 34.
3%
from the previous month.

Market quotation: Shanghai market 18-year state-owned full latex reported 10150 (+50) yuan / ton, Vietnam 3L reported 10450 (+50) yuan / ton, Thailand No.
3 tobacco film reported 12600 (+100) yuan / ton
.
Qingdao market STR20 warehouse spot reported 1185 (-5) US dollars / ton, Qingdao market STR20 May cargo reported 1185 (-5) US dollars / ton
.
May 11 is the Spring Ploughing Festival in Thailand, and the Hat Yai raw material market is closed; Domestic Yunnan Xishuangbanna glue at 8.
6-8.
8 yuan / kg, at present, Banna has not been cut in a large area, the price of raw materials is for reference only, and the large-scale cutting is expected to be in mid-May; Hainan production area has not yet entered the state of full rubber tapping, and the output is scarce
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber 1502 in North China Market price 8000 (+100) yuan / ton; The market price of cis-butadiene rubber is 7600 (+100) yuan / ton
.

Warehouse receipt inventory: RU warehouse receipt 235370 tons, -460 tons; NR warehouse receipt 70,207 tons, -504 tons
.

Main positions: RU2009 top 20 long positions 89559, +1509; short positions 135494, +1794; long and short increase, net short increase
.

Summary: From the current fundamental point of view, Yunnan and Hainan production areas sporadical cutting, new rubber production is less, raw material prices temporarily maintain a stable state, it is expected that the overall large-scale cutting will be in mid-May, the phenology of Thai production areas is more normal, under government subsidies, the later supply is more stable
.
In the downstream, the domestic semi-steel tire operating rate fell sharply last week, mainly due to the moderate reduction of individual manufacturers during the May Day holiday, and the operating rate this week may usher in a recovery rise, but the recovery of overseas orders is still under great pressure
.
From the perspective of terminals, the sales volume of heavy-duty trucks in April rose sharply month-on-month, and the demand for tire supporting in the later period was better driven by infrastructure
.
From the perspective of the disk, the RU2009 contract is range-bound, focusing on the 10500 first-line pressure in the short term, it is recommended to trade in the 10150-10500 range; The NR2007 contract is recommended to trade
in the 8350-8600 range for short term.