Shanghai rubber futures prices closed slightly higher beware of supply risks in production areas

News: 1.
The surge in demand for rubber gloves boosted Malaysia's exports
of rubber products in 2021.
2.
Thailand's rubber exports are expected to increase by 25%
in 2021.
3.
In the first five months of 2021, Vietnam's rubber exports to India doubled
.

Market quotation: Shanghai market 19 years state-owned full latex reported 13150 (+100) yuan / ton, Vietnam 3L reported 12850 (+50) yuan / ton
.
Qingdao market STR20 stock spot reported 1685 (+20) US dollars / ton, Qingdao market STR20 August cargo reported 1685 (+20) US dollars / ton
.
Qingdao area RMB Thai mix 12200 (+100) yuan / ton, RMB horse mix 12100 (+100) yuan / ton
.
Hainan state-owned glue into the whole dairy plant 12300 (+0) yuan / ton, into the concentrated dairy plant 12000 (+0) yuan / ton
.
The purchase price of glue from dry rubber factory in Yunnan production area refers to 12.
1-12.
5 (+0/+0) yuan/kg, and the purchase price of glue in concentrated dairy plant refers to 12.
2-12.
4 (+0/+0) yuan/kg
.
Field glue in Hat Yai raw material market in Thailand 43.
5 (-1.
2) baht/kg; Cup glue 44 (+0.
5) baht/kg
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber in North China 1502 market price 13900 (+0) yuan / ton; The market price of cis-butadiene rubber is 14100 (+0) yuan / ton
.

Warehouse receipt inventory: RU warehouse receipt 178120 tons, - 30 tons; NR warehouse receipt 50,603 tons, + 1 tons
.
Main positions: RU2109 Top 20 Long Positions 106465, -4984; Short Positions 152087, -1858; Long and Short Decrease, Net Short Increased
.

Summary: At present, it is in the seasonal production cycle of global tianjiao, the weather in the main producing areas is relatively normal, and the raw materials are increasing, but the epidemic situation in the major rubber-producing countries in Southeast Asia is grim, and it is necessary to beware of supply risks
in the production areas in the later stage.
The output of raw materials in domestic production areas is high, and the glue into the concentrated dairy plant is discounted into the price of the full latex factory, which is conducive to the increase of the amount of
full latex.
Yunnan's alternative planting indicators began to be announced and are expected to be issued in late July, but the number of indicators has been significantly reduced compared with last year, and the impact on the market is expected to weaken.

In terms of inventory, the bonded inventory in Qingdao has recently stopped falling slightly, and the general trade inventory has recovered significantly, and after the continuous decline of the previous inventory, the current inventory decline has slowed down
.
On the demand side, the early maintenance manufacturers resumed work, and the operating rate of domestic tire factories rebounded significantly last week, but the overall level was still lower than the usual level
.
Due to weak domestic and foreign sales, slow factory shipments, high raw material prices, and cautious factory starts, the short-term operation upward adjustment space may be limited
.
On the market, the RU2109 contract reduced its position slightly higher, and it is recommended to trade
in the 13400-13700 range in the short term.