Shanghai rubber futures prices closed up, and inventories remained in a state of destocking

News: 1.
In March 2021, Malaysia's tianjiao production increased by 4.
5% year-on-year, but decreased
month-on-month.
February and April, Vietnam's rubber exports were about 80,000 tons, an increase of 92%
year-on-year.
In March and April, sales of heavy-duty trucks exceeded 200,000 units, setting a new record
for the month for 13 consecutive months.

Market quotation: Shanghai market 19 years state-owned full latex reported 13700 (+300) yuan / ton, Vietnam 3L reported 13450 (+300) yuan / ton, Thailand No.
3 tobacco film reported 20300 (+450) yuan / ton
.
Qingdao market STR20 stock spot reported 1705 (-5) US dollars / ton, Qingdao market STR20 May cargo reported 1700 (-5) US dollars / ton
.
Hainan state-owned glue into the whole dairy plant 12500 (+0) yuan / ton, into the concentrated milk plant 13200 (-300) yuan / ton
.
The purchase price of glue from dry rubber factory in Mengla area of Yunnan is 12.
7-13 yuan / kg, and the purchase price of glue from concentrated dairy plant is 13.
3-13.
3 yuan / kg
.
Thailand Hat Yai raw material market field glue 63 (+1.
5) baht/kg; Cup glue 46 (+1.
5) baht/kg
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber 1502 market price 13600 (+0) yuan / ton; The market price of cis-butadiene rubber is 12000 (+0) yuan / ton
.

Warehouse receipt inventory: RU warehouse receipt 176140 tons, -100 tons; NR warehouse receipt 56,074 tons, +0 tons
.
Main positions: RU2109 top 20 long positions 104612, +4438; short positions 154072, +5321; long and short increase, net short increase
.

Summary: The daily new cases of new crown in Thailand are at a high level, the market is worried, and the rainfall hinders the rubber tapping operation and affects the output of raw materials, and the price of Hat Yai raw materials has increased slightly
.
At present, the overall cutting rate in Banna area is still low, the glue output is small, the competition for raw materials between processing plants is obvious, and the purchase price of glue in the thick dairy plant is still higher than the purchase price of glue in the dry rubber factory; The mainstream area in the middle of Hainan production area has entered the state of cutting, and the demand for concentrated milk for downstream products medical gloves has obvious signs of weakening, and the price difference between glue into latex factory and whole dairy plant continues to narrow
significantly.
In terms of inventory, because the new rubber has not yet been stored in large quantities, the domestic natural rubber social inventory has maintained a state
of destocking.
On the demand side, the domestic sales and export demand of tires remained stable, but the replacement demand was lower than market expectations, the inventory of finished products by manufacturers increased, and some manufacturers repaired in advance to alleviate inventory pressure and avoid high cost risks
.
On the plate, the RU2109 contract increased its position to the upside, focusing on the 14380 line of pressure in the short term, and further looking at the 15000 line if it can effectively break through; The NR2107 contract is eyeing pressure around 11750 and is recommended to trade
in the 11400-11750 range.