Shanghai rubber high opening shock market demand is not optimistic

News: 1.
Brazil imposes 5-year anti-dumping duties
on Chinese tires.
2.
Circulation Association: In the first half of the year, the import volume of imported automobiles increased by 17.
2%.

3.
The auto market fell for 1 consecutive month Auto suppliers lowered their sales forecasts
.

Market quotation: the quotation of 17-year state-owned whole milk (Yunxiang) in the Shanghai market is 10450 (+150) yuan / ton; Vietnam 3L quotation 10900 (+150) yuan / ton; Thailand No.
3 tobacco tablets 12850 (+150) yuan/ton; Yunnan 18 years full latex 10600 (+100) yuan / ton
.
The purchase price of natural rubber fresh glue and dry rubber of Hainan state-owned rubber processing plant remained stable at 9500 yuan / ton / ton
.
Thai Hat Yai raw material market raw film 38.
88 (+0) baht/kg; Tai San tobacco tablets 39.
21 (+0) baht/kg; field glue 38 (+0) baht/kg; Cup gum 31.
5 (+0) baht/kg
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber 1502 market price in East China 10600 (+200) yuan / ton; The market price of cis-butadiene rubber is 10500 (+0) yuan / ton
.

Warehouse receipt inventory: warehouse receipt 414070 tons, +1700 tons
.
Main positions: Top 20 long positions 54098, +3262, short positions 81416, +4006
.
Long and short increase at the same time, headroom increases
.

At present, domestic and foreign production areas are in the rubber tapping period, and the supply is gradually increasing
.
The recent sharp drop in raw material market prices in Thailand indicates that the source supply is sufficient
.
Although stocks outside the bonded zone have continued to decline recently, Thailand's exports of Chinese standard rubber increased sharply in June, and inventories will still recover
as imported sources continue to arrive at Hong Kong.
On the demand side, domestic heavy-duty truck sales in July fell sharply again month-on-month, coupled with the current domestic tire consumption gradually entering the off-season, the operating rate of domestic tire factories continued to decline, and the demand side was not optimistic
.
However, the current price has fallen into the cost range, and the all-latex sticker mixed rubber may make the futures price decline space limited
.
Technically, the RU2001 contract is under pressure above the 11650 line, supported below the 11450 position, and it is recommended to trade
in the 11450-11650 range in the short term.