Rubber futures prices closed down, and supply gradually entered the low stage of the year

News: 1.
On February 25, 2021, Shanghai issued a notice
on accelerating the implementation plan for the development of the new energy vehicle industry (2021-2025).
2.
The area covered by defoliation disease of rubber trees in Thailand exceeds 890,000 rai
.
3.
Thailand, Malaysia and India participated in the first Rubber City and Industry Cooperation Conference
.

Market quotation: Shanghai market 19-year state-owned full latex reported 14650 (-150) yuan / ton, Vietnam 3L reported 13900 (-50) yuan / ton, Thailand No.
3 tobacco film reported 21250 (-100) yuan / ton
.
Qingdao market STR20 stock spot reported 1800 (+0) US dollars / ton, Qingdao market STR20 March cargo reported 1810 (+0) US dollars / ton
.
Thailand Hat Yai raw material market field glue 59 (+0.
5) baht/kg; Cup glue 42.
7 (+0.
55) baht/kg
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber in North China 1502 market price 14400 (+0) yuan / ton; The market price of cis-butadiene rubber is 13400 (+0) yuan / ton
.

Warehouse receipt inventory: RU warehouse receipt 167900 tons, - 70 tons; NR warehouse receipt 59220 tons, - 332 tons
.
Main positions: RU2105 top 20 long positions 84682, -400; short positions 127272, -850; long and short minus, net space reduction
.

Summary: On the supply side, in the global production contraction, supply has gradually entered the low stage of the year, and the price of raw materials in Thailand has been firm
.
The domestic Yunnan production area is close to the cutting period, the current phenological conditions are normal, it is expected to be able to open normally in the second half of the year, but the supply of raw materials in the early stage of cutting is small, and it will still face concentrated milk diversion, and it is expected that warehouse receipts will be difficult to increase
significantly.
Downstream, the current tire start quickly returned to normal levels to support natural rubber demand, but due to the sufficient inventory of raw materials of enterprises, short-term procurement is difficult to increase
rapidly.
On the macro front, the global epidemic under control, coupled with strong inflation expectations brought about by the new round of stimulus policies in the United States, has supported commodities
.
On the market, the RU2105 contract focuses on support around 15000, the NR2105 contract focuses on support around 11500, and the mid-line dip buying idea operation
.