Rubber downward rebounded and futures prices closed slightly higher

News: 1.
According to Longzhong Information, the construction of semi-steel tires last week was 63.
03%, up 5.
36% month-on-month and 9.
03% year-on-year; Last week, all-steel tires started 64.
23%, up 17.
76% month-on-month and 11.
73%
year-on-year.
2.
In July 2019, the total import volume of natural rubber (including technical classification, latex, tobacco film, primary shape, mixed rubber and composite rubber) was 437,100 tons, up 32.
72% month-on-month and down 4.
7% year-on-year; The cumulative import volume from January to July 2019 was 2.
8541 million tons, a cumulative decrease of 7.
53%
year-on-year.
3.
According to Longzhong Information statistics, as of August 16, 2019, the total natural rubber general trade inventory in Qingdao was 335,200 tons, down 09,500 tons, or 2.
76%,
month-on-month (July 19, 2019).

Market quotation: the quotation of 17-year state-owned whole milk (Yunxiang) in the Shanghai market is 10250 (-50) yuan / ton; Vietnam 3L quotation 10700 (-50) yuan / ton; Thailand No.
3 tobacco flakes 12900 (-50) yuan/ton; Yunnan 18 years full latex 10450 (+0) yuan / ton
.
The purchase price of natural rubber fresh glue and dry rubber of Hainan State-owned Rubber Processing Plant is 9700 yuan / ton
.
Thai Hat Yai raw material market raw film 38.
53 (-0.
94) baht/kg; Tai San tobacco tablets 41.
19 (-0.
83) baht/kg; field glue 39.
4 (+0) baht/kg; Cup gum 32.
25 (-0.
75) baht/kg
.
SMR20 Qingdao Free Trade Zone warehouse warehouse price increase of 1310 (-5) US dollars / ton; SIR20 Qingdao Free Trade Zone warehouse warehouse price increase of 1320 (-5) US dollars / ton; STR20 Qingdao Free Trade Zone warehouse warehouse price increase of 1315 (-10) US dollars / ton
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber 1502 market price in East China 10400 (+0) yuan / ton; The market price of cis-butadiene rubber is 10700 (+0) yuan / ton
.

Warehouse receipt inventory: RU warehouse receipt 416870 tons, -240 tons; NR warehouse receipt 0 tons
.
Main positions: RU2001 Top 20 long positions 70473, +131; short positions 103167, -691
.
More increase and decrease, less headroom
.

Summary: At present, domestic and foreign production areas are in the rubber tapping period, and the supply is gradually increasing
.
Vietnam's exports to China have increased significantly, and inventories will still recover
as imports continue to arrive.
At the same time, the September contract is about to enter the delivery month, and the pressure of warehouse receipts will still suppress
the futures price.
On the demand side, most of the affected enterprises resumed work last week, and the start of work was gradually increasing, and some enterprises that did not resume work also gradually resumed production, forming a favorable support for the overall start, but the current domestic tire consumption is still just demand, and there is no bright spot in demand
.
Overall, the global natural rubber market is still facing a fundamental pattern
of oversupply.
Technically, the RU2001 contract is under pressure near the 11500 line, and it is still recommended to treat it with a bearish idea in the short term, focusing on the support near the previous low; The NR2002 contract has been shrinking in volume in the near future, and it is recommended to trade
in the 9700-10000 range in the short term.