Shanghai rubber contracts opened high and fluctuated, and futures prices closed slightly lower

News: 1.
The Thai Rubber Authority has promoted four stability maintenance measures to cope with the volatile pattern
of the rubber market.
2.
Passenger car association: Retail sales of passenger cars in the narrow sense in June are expected to be 1.
58 million units, down about 4.
8%
y/y.
3.
Thailand's exports of natural rubber in the first five months increased by 18% year-on-year, while mixed rubber decreased by 28%.

Market quotation: Shanghai market 19-year state-owned full latex reported 12700 (-100) yuan / ton, Vietnam 3L reported 12650 (-50) yuan / ton
.
Qingdao market STR20 stock spot reported 1690 (+20) US dollars / ton, Qingdao market STR20 July cargo reported 1690 (+20) US dollars / ton
.
Qingdao area RMB Thai mix 12100 (+100) yuan / ton, RMB horse mix 12000 (+100) yuan / ton
.
Hainan state-owned glue into the whole dairy plant 12300 (+0) yuan / ton, into the concentrated dairy plant 12300 (-100) yuan / ton
.
The purchase price of glue from dry rubber factory in Yunnan production area refers to 11.
9-12.
3 (+0/+0) yuan/kg, and the purchase price of glue in concentrated dairy plant refers to 12.
0-12.
3 (+0/+0) yuan/kg
.
Field glue in Hat Yai raw material market in Thailand 49.
5 (+0) baht/kg; Cup glue 43.
55 (+0.
2) baht/kg
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber in North China 1502 market price 12400 (+0) yuan / ton; The market price of cis-butadiene rubber is 12100 (+0) yuan / ton
.

Warehouse receipt inventory: RU warehouse receipt 174820 tons, +0 tons; NR warehouse receipts 53,030 tons, - 797 tons
.
Main positions: RU2109 Top 20 long positions 109315, +595; short positions 156787, +905; long and short increase, net short increase
.

Summary: At present, it is in the global seasonal production increase cycle of tianjiao, the weather in the main production areas is normal, and the raw
materials continue to increase.
The output of raw materials in Hainan production area is high, and the price difference between glue into concentrated dairy plant and full latex factory is low, which is conducive to the increase of full latex volume; The cutting rate in Yunnan production area continues to increase, and there is an expectation
of rapid increase in supply.
In terms of inventory, the low price of rubber stimulated the enthusiasm of downstream goods, and social inventory continued to decline year-on-year, and the decline expanded
.
On the demand side, maintenance manufacturers resumed operation, and the operating rate of tire factories rebounded last week, but domestic and foreign sales were weak, and the inventory of finished products in factories was at a high level, superimposed on the "centennial of the founding of the party" approaching, and there was an expectation
of a decline in short-term operating rates.
On the market, the RU2109 contract closed slightly lower, focusing on the pressure around 13330 in the short term, and it is recommended to trade in the 13000-13330 range; The NR2108 contract is recommended to trade
in the 10650-10950 range.