Rubber opened high and closed higher, and demand recovered slowly

News: 1.
According to Longzhong Information statistics, as of the week of April 16, the operating rate of semi-steel tire manufacturers was 59.
72%, down 1.
35% month-on-month and 7.
09% year-on-year; The operating rate of all-steel tire manufacturers was 64.
04%, down 0.
45% month-on-month and 7.
93%
year-on-year.
2.
Thailand's exports of tianjiao in March and exports to China decreased
year-on-month.
3.
From January to March 2020, the export volume of natural rubber from Côte d'Ivoire increased by 58%
year-on-year.

Market quotation: Shanghai market 18-year state-owned full latex reported 9650 (+200) yuan / ton, Vietnam 3L reported 9950 (+200) yuan / ton, Thailand No.
3 tobacco film reported 12050 (+250) yuan / ton
.
Qingdao market STR20 warehouse spot reported 1140 (-5) US dollars / ton, Qingdao market STR20 April cargo reported 1140 (-10) US dollars / ton
.
Thai Hat Yai raw material market field glue 38.
2 (+0) baht/kg; Cup glue 26.
7 (-0.
55) baht/kg
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber 1502 in North China Market price 8100 (+0) yuan / ton; The market price of cis-butadiene rubber is 7800 (+0) yuan / ton
.

Warehouse receipt inventory: RU warehouse receipt 235400 tons, -1050 tons; NR warehouse receipts 68,061 tons, -202 tons
.
Main positions: RU2009 top 20 long positions 78831, -810; short positions 118356, -429; long and short decrease, net short increased
.

Summary: From the current fundamental point of view, the domestic Yunnan and Hainan production areas have postponed cutting, and overseas raw materials have fallen to historical lows
.
In the downstream, the operating rate of domestic tire factories has continued to decline month-on-month, and significantly lower than the same period last year, international public health events continue to spread, tire export orders are seriously reduced, especially semi-steel tire factories, I heard that individual factories in Shandong have arranged to stop production and maintenance, and the probability of continuing to decline in the later operating rate is large
.
In addition, the low price of crude oil has caused the price of synthetic rubber to follow the decline, which has a certain drag
on the price of natural rubber.
Due to the slow recovery of demand, rubber stocks in Qingdao have continued to rise recently, and the later destocking process may be longer
than in previous years.