Shanghai rubber inventory pressure highlights recommended range trading

Spot: Shanghai natural rubber market 15-year state-owned whole milk quotation in 16350-16450 (-100/-100) yuan / ton; Vietnam 3L quotation 17100 (0) yuan / ton; 15 years Thailand No.
3 tobacco sheet 17750 (-100) yuan / ton; RMB mixed rubber 16700 (-400) yuan / ton
.
Thai Hat Yai raw material market raw film 72.
9 (-0.
45) baht/kg; Tai San tobacco tablets 74.
19 (+0.
67) baht/kg; field glue 71.
5 (-2.
5) baht/kg; Cup glue 63 (0) baht/kg
.

Synthetic rubber: Qilu petrochemical styrene rubber 1502 market price in East China 18500 (-700) yuan / ton; The market price of cis-butadiene rubber is 20500 (-500) yuan / ton
.

News: 1.
Sales of generalized passenger cars in the first two months fell 2.
9%
year-on-year.
2.
In 22 months, Vietnam's tianjiao exports increased by 75.
6% year-on-year, mostly exported to China
.

At present, the operating rate of all-steel and semi-steel of domestic tire factories is higher than the same period last year, and in February 2017, the domestic heavy-duty truck market sold a total of about 88,000 vehicles of various types, a significant increase of 152% over the same period last year, but an increase of 6%
month-on-month.
It set a record high in February sales in the heavy-duty truck market, showing that the overall downstream demand for rubber remains good
.
From the perspective of circulation, as of the end of February 2017, the rubber inventory in Qingdao Free Trade Zone increased by about 6.
1% to 166,200 tons, of which the natural rubber inventory increased by 72,000 tons to 123,400 tons, putting pressure
on the Shanghai rubber inventory.
The sharp decline in the price of synthetic rubber has dragged down Shanghai rubber
.
The Shanghai rubber 1705 contract focuses on short-term support around 17000, and it is recommended to trade
in the 17000-18400 range.