Rubber rushed back down and futures prices closed slightly lower

News: 1.
According to Longzhong statistics, as of the week of July 9, the operating rate of semi-steel tire sample manufacturers was 66.
64%, down 1.
31% month-on-month and 3.
55% year-on-year; The operating rate of all-steel tire manufacturers was 71.
16%, down 0.
23%
from the previous month.
It decreased by 0.
41%
year-on-year.
2.
China Association of Automobile Manufacturers: Automobile production and sales in June reached a new high
in the same period of the previous year.
3.
General Administration of Customs: China's rubber imports in June increased by 21% year-on-year to 534,000 tons
.

Market quotation: Shanghai market 18-year state-owned full latex reported 10500 (+0) yuan / ton, Vietnam 3L reported 10900 (+0) yuan / ton, Thailand No.
3 tobacco film reported 12950 (+0) yuan / ton
.
Qingdao market STR20 warehouse spot reported 1270 (+0) US dollars / ton, Qingdao market STR20 July cargo reported 1260 (+0) US dollars / ton
.
Field glue at Hat Yai raw material market in Thailand 41.
7 (+0) baht/kg; Cup glue 32.
2 (+0) baht/kg
.
Domestic Yunnan Xishuangbanna glue is 9.
5-9.
8 (+0/+0) yuan/kg
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber 1502 in North China Market price 8000 (+0) yuan / ton; The market price of cis-butadiene rubber is 8200 (+0) yuan / ton
.

Warehouse receipt inventory: RU warehouse receipt 231150 tons, + 880 tons; NR warehouse receipts 43,092 tons, - 1,210 tons
.
Main positions: RU2009 top 20 long positions 82576, - 410; short positions 130822, +520; reduce long and increase short, net space increase
.

Summary: From the current fundamental point of view, the overall trend of Banna rubber tapping tends to be normal, and the cutting rate can reach about 70% in previous years, but the situation of small raw materials still exists; The raw materials in the Hainan production area have begun to increase one after another, to a certain extent, easing the rubber collection situation of processing plants, and I heard that the entry of alternative planting raw materials will be postponed to August, and the domestic supply will continue to grow
in the later period.
The production capacity of new rubber in the Thai production area has been released, and the raw materials in the production area are also gradually increasing
.
In terms of inventory, as of July 10, the inventory inside and outside the Qingdao Free Trade Zone has accumulated slightly, and it is difficult to destock rubber during the peak supply season
.
In the downstream, the operating rate of the domestic tire market fell slightly month-on-month last week, and the rainy season had an impact on the domestic tire market in Shandong; At present, the volume of export orders has increased, but due to the many uncertainties in the foreign epidemic, the continuity of export sales growth is still difficult to determine
.
In addition, some companies usually arrange maintenance in July and August, which will affect the overall operating rate
from time to time.
From the terminal point of view, the sales volume of heavy trucks is good, and the performance of tire supporting demand in the later period is expected to be better
driven by infrastructure.
Recently, the supply and demand fundamentals of Tianjiao are relatively stable, the futures price is greatly affected by the stock market and crude oil market, RU2009 contract rushed back down, short-term continue to pay attention to the pressure around 10750, it is recommended to trade in the 10500-10750 range, NR2009 contract is recommended to trade
in the 8500-8900 range.