Rubber futures prices are under pressure and the market is oversupplied

News: 1.
According to Longzhong Information, the construction of semi-steel tires started 67.
35% last week, up 1.
39% month-on-month and 5.
35% year-on-year; Last week, all-steel tires started 69.
96%, up 1.
58% month-on-month and down 0.
84%
year-on-year.
2.
Thailand's exports of Tianjiao to China in August fell
year-on-year.
In March and August, the European auto market fell another 8.
6%, but it is also gradually recovering
.

Market quotation: the quotation of 17-year state-owned whole milk (Yunxiang) in the Shanghai market is 10950 (-50) yuan / ton; Vietnam 3L quotation 11100 (-50) yuan / ton; Thailand No.
3 tobacco tablets 13400 (-50) yuan / ton; Yunnan 18 years full latex 10950 (+50) yuan / ton
.
The purchase price of natural rubber fresh glue and dry rubber of Hainan state-owned rubber processing plant fell to 10,200 yuan / ton
.
Thai Hat Yai raw material market raw film 39.
09 (-0.
31) baht/kg; Tai San tobacco tablets 40.
8 (-0.
25) baht/kg; field glue 39.
5 (-0.
2) baht/kg; Cup gum 33.
25 (-0.
25) baht/kg
.
SMR20 Qingdao Free Trade Zone warehouse warehouse price increase of 1340 (-5) US dollars / ton; SIR20 Qingdao Free Trade Zone warehouse warehouse price increase of 1340 (-10) US dollars / ton; STR20 Qingdao Free Trade Zone warehouse warehouse price increase of 1350 (-5) US dollars / ton
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber 1502 market price in East China 11300 (+0) yuan / ton; The market price of cis-butadiene rubber is 12400 (+0) yuan / ton
.

Warehouse receipt inventory: RU warehouse receipt 404580 tons, -50 tons; NR warehouse receipt 0 tons
.

Main positions: RU2001 Top 20 Long Positions 76743, +1337; Short Positions 117028, +1525
.
Long and short increase at the same time, headroom increases
.

Summary: At present, domestic and foreign production areas are in the rubber tapping period, and the weather in Southeast Asia is better, and the supply will increase significantly in the later period
.
On the demand side, in order to cope with the recent continuous occurrence of moderate to severe pollution weather, Shandong Province issued emergency plans for some factories in Guangrao area, and I heard that some factories have limited production by 50%.

In addition, China III vehicles will not be able to be transported on the road in the short term, and tire demand will slow down
.
At present, the rubber tapping season is still facing an oversupply situation
.
Technically, the RU2001 contract price fell under pressure, focusing on the support around 11500 below, and short-term suggestions were short-term to operate with a bearish idea; The NR2002 contract follows the weakening of Shanghai rubber, focusing on support around 9800, and short-term recommendations are to trade
in the 9800-10100 range.