Rubber opened low and volatile, and the futures price closed lower at the end of the day

News: 1.
Thailand's exports of tianjiao in February decreased year-on-month, while the exports of mixed rubber to China increased
.
2.
According to Longzhong information statistics, as of the week of March 26, the operating rate of domestic semi-steel tire manufacturers was 65.
19%, up 1.
25% month-on-month and down 2.
27% year-on-year; The operating rate of all-steel tire manufacturers was 65.
81%, up 1.
77% month-on-month and down 6.
90%
year-on-year.
European vehicle sales fell another 7.
2%
in March and February.

Market quotation: Shanghai market 18-year state-owned full latex reported 9200 (-400) yuan / ton, Vietnam 3L reported 9550 (-350) yuan / ton, Thailand No.
3 tobacco film reported 11400 (-450) yuan / ton
.
Qingdao market STR20 stock spot reported 1130 (-15) US dollars / ton, Qingdao market STR20 March cargo reported 1130 (-15) US dollars / ton
.
Thai Hat Yai raw material market raw film 37.
4 (-0.
95) baht/kg; Tai San tobacco tablets 38.
29 (-1.
3) baht/kg; field glue 36 (+0.
5) baht/kg; Cup glue 26.
5 (-1) baht/kg
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber 1502 market price 8500 (+0) yuan / ton; The market price of cis-butadiene rubber is 8300 (+0) yuan / ton
.

Warehouse receipt inventory: RU warehouse receipt 236460 tons, - 210 tons; NR warehouse receipt 54352 tons, + 807 tons
.
Main positions: RU2009 top 20 long positions 72132, + 4344; short positions 108296, + 3364; long and short increased, net space decreased
.

Summary: From the current fundamental point of view, low-priced crude oil has caused the price of synthetic rubber to follow the decline, which has a certain drag
on the price of natural rubber.
Coupled with the continued spread of the overseas epidemic, it will adversely affect China's tire exports to the European and American markets, and many overseas tire factories and automobile manufacturers have stopped production, putting pressure
on global demand for natural rubber.
Although the operating rate of domestic tire factories is still picking up recently, export shipments are blocked, the pressure of competition in the domestic market has increased, and the room for the increase in the later operating range is limited
.
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.
The RU2009 contract is recommended to trade in the 9000-9750 range for the short term, and the NR2005 short-term is recommended to trade
in the 7000-7880 range.