Shanghai rubber increased its position to close up, and the supply pressure is still obvious

News: 1.
The United States imported natural rubber in January increased
sharply year-on-month.
2.
China imported 107,000 tons
of natural rubber in February.
3.
The risk of "Brexit" caused the UK's automobile production to fall
sharply in February.

Market quotation: the quotation of 17-year state-owned whole milk (Yunxiang) in the Shanghai market is 10950 (+50) yuan / ton; Vietnam 3L quotation 11000 (+50) yuan / ton; Thailand No.
3 tobacco tablets 12700 (0) yuan/ton; Yunnan 18 years full latex 11600 (+50) yuan / ton
.
Thai Hat Yai raw material market raw film 49.
85 (+0.
1) baht/kg; Tai San tobacco tablets 54.
25 (+0.
05) baht/kg; Field glue 51 (0) baht/kg; Cup glue 40 (0) baht/kg
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber 1502 market price in East China 11300 (0) yuan / ton; The market price of cis-butadiene rubber is 11400 (0) yuan / ton
.

Warehouse receipt inventory: warehouse receipt 423130 tons, +980 tons
.
Main positions: Top 20 long positions 93004, +3572, short positions 116194, +4619
.
Long and short increase at the same time, headroom increases
.

At present, Yunnan production area is sporadically cut, the supply is still not on the volume, India, Malaysia and Thailand rubber export tonnage plan began to be implemented, but the actual effect may be limited
.
Recently, the operation of domestic tire factories is generally good, and from the export data, exports fell significantly
in the first two months of this year.
Although China's rubber imports have recently declined year-on-year, from the perspective of inventory, exchange inventory and inventory outside the bonded zone have continued to increase, and the supply pressure is still obvious
.
Technically, the RU1909 contract is focused on pressure around 11900, and short-term recommendations are to trade
in the 11600-12000 range.