Rubber prices increased their positions higher, and short-term cautious chasing up

News: 1.
According to Longzhong Information, the start of semi-steel tires this week was 57.
67%, down 8.
88% month-on-month and 8.
83% year-on-year; All-steel tires started 46.
47% this week, down 23.
22% month-on-month and 20.
53%
year-on-year.
2.
Mainland tyre profit in the first half of the year increased
slightly year-on-year.
3.
Vietnam's rubber exports increased steadily in the first 7 months of 2019
.

Market quotation: the quotation of 17-year state-owned whole milk (Yunxiang) in the Shanghai market is 10450 (+150) yuan / ton; Vietnam 3L quotation 10900 (+150) yuan / ton; Thailand No.
3 tobacco tablets 13050 (+300) yuan/ton; Yunnan 18 years full latex 10600 (+50) yuan / ton
.
The purchase price of natural rubber fresh glue and dry rubber of Hainan State-owned Rubber Processing Plant is 9700 yuan / ton
.
Thai Hat Yai raw material market raw film 39.
45 (+0.
4) baht/kg; Tai San Tobacco Tablets 42.
25 (+0.
74) THB/kg; field glue 39.
3 (+0.
1) baht/kg; Cup glue 32.
5 (+0.
5) baht/kg
.
SMR20 Qingdao Free Trade Zone warehouse warehouse price increase of 1310 (+0) US dollars / ton; SIR20 Qingdao Free Trade Zone warehouse warehouse price increase of 1315 (+0) US dollars / ton; STR20 Qingdao Free Trade Zone warehouse price increase of 1315 (+0) US dollars / ton
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber 1502 market price in East China 10600 (+0) yuan / ton; The market price of cis-butadiene rubber is 10700 (+0) yuan / ton
.

Warehouse receipt inventory: RU warehouse receipt 416950 tons, +1670 tons; NR warehouse receipt 0 tons
.
Main positions: RU2001 Top 20 long positions 70639, +4166; short positions 99646, +497
.
Long and short increase together, headroom decreases
.

Summary: At present, domestic and foreign production areas are in the rubber tapping period, and the supply is gradually increasing
.
Vietnam's exports to China have increased significantly, and inventories will still recover
as imports continue to arrive.
At the same time, the September contract is about to enter the delivery month, and the pressure of warehouse receipts will still suppress
the futures price.
On the demand side, after a week of repair in Dongying and Weifang areas, manufacturers are expected to recover from construction, but at present, domestic tire consumption is in the off-season, and demand still has no bright
spots.
Overall, the global natural rubber market is still facing a fundamental pattern
of oversupply.
The news of the closure of one of its RSS factories boosted rubber prices, but the material impact of the news on rubber prices may be limited
due to the small import of domestic tobacco tablets.
Technically, RU2001 contract increased positions, paid attention to the pressure around 11700, and cautiously chased up in the short term; NR2002 contract increased positions to close higher, short-term focus on pressure around 10150, it is recommended to trade
in the 9950-10150 range.