Rubber contracts reduced their positions and futures prices fluctuated slightly

News: 1.
According to Longzhong statistics, as of the week of June 24, the operating rate of domestic semi-steel tire manufacturers was 67.
61%, up 0.
82% month-on-month and down 3.
68% year-on-year; The operating rate of all-steel tire manufacturers was 70.
64%, up 0.
31% month-on-month and down 2.
37%
year-on-year.
2.
Thailand's exports of tianjiao in May continued to decline year-on-year, while the exports of mixed rubber to China increased
.
3.
Indonesian tire production is expected to decrease by 40%
in 2020.

Market quotation: Shanghai market 18-year state-owned full latex reported 10100 (+50) yuan / ton, Vietnam 3L reported 10800 (+50) yuan / ton, Thailand No.
3 tobacco film reported 12550 (+50) yuan / ton
.
Qingdao market STR20 stock spot reported 1230 (+10) US dollars / ton, Qingdao market STR20 July cargo reported 1230 (+10) US dollars / ton
.
Field glue in Hat Yai raw material market in Thailand 43.
3 (-0.
5) baht/kg; Cup gum 32 (-0.
2) baht/kg
.
Domestic Yunnan Xishuangbanna glue is 9.
5-9.
7 (+0/+0) yuan/kg
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber 1502 in North China Market price 8200 (+0) yuan / ton; The market price of cis-butadiene rubber is 8200 (+0) yuan / ton
.

Warehouse receipt inventory: RU warehouse receipt 229920 tons, + 530 tons; NR warehouse receipts 49,866 tons, - 504 tons
.
Main positions: RU2009 top 20 long positions 95203, -2956; short positions 140365, -3158; long and short are reduced together, net space is reduced
.

Summary: From the current fundamental point of view, the current output of Banna raw materials is higher than the previous period, but it is still in a state of shortage, and it is heard that alternative planting raw materials are likely to enter in late July
.
The production capacity of new rubber in the Thai production area was released, and the raw materials in the production area were gradually increased
.
In terms of inventory, as of June 19, Qingdao's bonded warehousing rate was greater than the outbound rate, and the inventory inside and outside the region was about +1.
2%
month-on-month.
In terms of downstream, the operating rate of the domestic tire market rebounded slightly last week, the epidemic situation in many foreign places was gradually controlled, and export orders increased; The growth of terminal demand in the domestic replacement market is weak, and dealers are bearish on the future market, and their willingness to purchase is not strong
.
However, from the terminal point of view, the performance of tire supporting demand in the later period driven by infrastructure is expected to be better
.
On the intraday, the RU2009 contract fluctuated slightly, and the short-term recommended to trade in the 10000-10350 range, and the NR2009 contract is recommended to trade
in the 8450-8710 range.