Rubber position reduction increment futures price shock closed down

News: 1.
According to Longzhong information statistics, as of the week of September 24, the operating rate of domestic semi-steel tire manufacturers was 70.
84%, up 0.
18% month-on-month and 9.
58% year-on-year; The operating rate of all-steel tire manufacturers was 75.
12%, up 0.
07% month-on-month and 12.
63%
year-on-year.
2.
ITRC: Thailand, India and Malaysia rubber production is expected to decline
.
3.
Vietnam's mixed rubber exports to China continued to increase
in August.
4.
Thailand's exports of tianjiao in August continued to increase month-on-month, while mixed rubber declined
.

Market quotation: Shanghai market 18-year state-owned full latex reported 12050 (-50) yuan / ton, Vietnam 3L reported 11650 (+0) yuan / ton, Thailand No.
3 tobacco film reported 16250 (-50) yuan / ton
.
Qingdao market STR20 stock spot reported 1540 (-10) US dollars / ton, Qingdao market STR20 October cargo reported 1520 (-10) US dollars / ton
.
Field glue at Hat Yai raw material market in Thailand 49.
7 (+0.
2) baht/kg; Cup glue 36.
95 (+0.
1) baht/kg
.
Domestic Yunnan Xishuangbanna glue into the dry rubber factory 10.
5-10.
7 (+0/+0) yuan / kg, into the latex factory 10.
80 (+0) yuan / kg
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber 1502 in North China Market price 9000 (+0) yuan / ton; The market price of cis-butadiene rubber is 8700 (+0) yuan / ton
.

Warehouse receipt inventory: RU warehouse receipt 212550 tons, + 5120 tons; NR warehouse receipt 34999 tons, + 3025 tons
.
Main positions: RU2101 top 20 long positions 80198, - 2552; short positions 115450, - 7469; long and short are reduced together, net short is reduced
.

Summary: From the current fundamental point of view, the recent Banna rubber tapping is normal, the supply of raw materials tends to be normal, and overseas alternative planting index rubber has entered the customs one after another, and the tight supply situation has eased; The rainy weather in the Hainan production area is repeated, and the output of raw material glue is limited
.
In terms of inventory, the entry of alternative indicators is gradually increasing, superimposed on the increase in Vietnamese rubber imports, and the accumulation of light-colored rubber is still expected; With the pre-holiday stocking basically ended, the inventory may be expected
to recover.
In the downstream, there is still a shortage of individual models of domestic tires, while the number of export orders is sufficient, and the operation of tire factories is better than last year
.
On the market, affected by the pre-holiday position reduction, the RU2101 contract price closed down, but the overall range-bound trend remained unchanged, and it was recommended to focus on external crude oil, overseas epidemics and macro conditions
during the holiday.