Rubber position reduction and contraction futures price volatility closed down

News: 1.
According to Longzhong Information, as of the week of November 12, the operating rate of domestic semi-steel tire manufacturers was 71.
85%, up 0.
18% month-on-month and 3.
04% year-on-year; The operating rate of all-steel tire manufacturers was 76.
27%, up 0.
36% month-on-month and 8.
08%
year-on-year.
2.
Vietnam's mixed rubber exports to China in October increased by 20%
year-on-year.
3.
General Administration of Customs: China's rubber imports in October increased by 34% year-on-year to 671,000 tons
.

Market quotation: Shanghai market 19 years state-owned full latex reported 13450 (-200) yuan / ton, Vietnam 3L reported 13250 (-150) yuan / ton, Thailand No.
3 tobacco film reported 18400 (-100) yuan / ton
.
Qingdao market STR20 stock spot reported 1620 (-40) US dollars / ton, Qingdao market STR20 November cargo reported 1615 (-35) US dollars / ton
.
Field glue in Hat Yai raw material market in Thailand 53.
5 (+0) baht/kg; Cup gum 38.
7 (-0.
6) baht/kg
.
Domestic Yunnan Xishuangbanna glue into the dry rubber factory 12.
4-12.
8 (+0.
1/+0.
1) yuan/kg; Glue into the latex factory 13.
2 (-0.
1) yuan / kg
.
Hainan state-owned glue into the whole dairy factory to produce whole milk 13000 (+0) yuan / ton, into the concentrated milk factory to produce concentrated milk 14500 (+0) yuan / ton
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber in North China 1502 market price 11600 (+0) yuan / ton; The market price of cis-butadiene rubber is 11000 (+0) yuan / ton
.

Warehouse receipt inventory: RU warehouse receipt 229680 tons, - 200 tons; NR warehouse receipt 40935 tons, + 504 tons
.

Main positions: RU2101 Top 20 long positions 79001, + 94; Short positions 100096, -1084; increase and decrease short, net space decrease.

Summary: Recently, the rainfall in domestic and foreign production areas has decreased, and rubber tapping is carried out normally, but the enthusiasm for rubber tapping has declined
due to the decline in raw material prices.
The Banna cutting period is approaching, the annual production reduction is a foregone conclusion, and the factory has recently been more enthusiastic about purchasing low-priced raw materials
.
In terms of inventory, the inventory of new rubber warehouse receipts after the delivery of old rubber is at a historical low, and the small number of delivered products continues to affect the futures price
.
Rubber inventories in Qingdao have continued to decline recently, but it is difficult to continue to destocking in November in anticipation of an increase in imports
.
On the demand side, the operating rate of tire factories continued to increase month-on-month and was significantly higher than the same period last year, but the remediation of air pollution in winter may affect its operating level, and the second outbreak of the overseas epidemic made export orders in December expected
to decline.
On the plate, the RU2101 contract fell under pressure, focusing on the support around 13800 in the short term, and it is recommended to trade in the 13800-14400 range; The NR2101 contract is focused on support around 10200 in the short term, and it is recommended to trade
in the 10200-10500 range.