Rubber rebound was weak and futures prices closed slightly higher

News: 1.
Thailand's exports of tianjiao in July increased slightly year-on-year, and exports of Chinese standard rubber decreased
month-on-month.
2.
ANRPC: Global natural rubber production in the first five months of 2019 decreased by 6.
5%
year-on-year.
3.
According to Longzhong Information statistics, as of August 16, 2019, the total natural rubber general trade inventory in Qingdao was 335,200 tons, down 09,500 tons, or 2.
76%,
month-on-month (July 19, 2019).

Market quotation: the quotation of state-owned whole milk (Yunxiang) in the Shanghai market for 17 years is 10300 (+0) yuan / ton; Vietnam 3L quotation 10750 (+0) yuan / ton; Thailand No.
3 tobacco tablets 12950 (+50) yuan/ton; Yunnan 18 years full latex 10450 (+0) 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.
4 (-0.
43) baht/kg; Tai San tobacco tablets 42.
59 (+0.
3) baht/kg; Field glue 39.
4 (0) baht/kg; Cup glue 32.
7 (0.
2) baht/kg
.
SMR20 Qingdao Free Trade Zone warehouse warehouse price increase of 1320 (-5) US dollars / ton; SIR20 Qingdao Free Trade Zone warehouse warehouse price increase of 1325 (+0) US dollars / ton; STR20 Qingdao Free Trade Zone warehouse warehouse price increase of 1330 (-5) 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 417400 tons, +1440 tons; NR warehouse receipt 0 tons
.
Main positions: RU2001 top 20 long positions 69926, +1243; short positions 103367, +1437
.
Long and short increase at the same time, headroom increases
.

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.
Technically, the RU2001 contract is under pressure near the 11500 line, and it is still recommended to treat it with a bearish idea in the short term, focusing on the support near the previous low; The volume of the NR2002 contract continued to shrink, and the futures price closed slightly higher, and it is recommended to trade
in the 9800-10000 range in the short term.