Shanghai rubber low opening oscillation, rebound momentum is slightly insufficient

In terms of spot: the 14-year quotation of state-owned whole milk in the Shanghai market is about 10800-10850 (0/+50) yuan / ton; Vietnam's 3L quotation is at 11700 (0) yuan / ton; 15 years Thailand No.
3 smoke 12350 (+50) yuan / ton; RMB mixed rubber 10550 (-300) yuan / ton
.
Thai Hat Yai raw material market raw film 58.
73 (+0.
06) baht/kg; Tai San tobacco tablets 62.
46 (+0.
2) baht/kg; field glue 59.
5 (-0.
5) baht/kg; Cup glue 46 (-1) baht/kg
.
Synthetic rubber: East China Qilu petrochemical styrene-butadiene rubber 1502 market price 11800 yuan / ton (-100), cis-butadiene rubber market price 11000 yuan / ton (-200).

News: 1.
The 4th Thai department signed a MOU memorandum, marking that the Thai rubber industry has entered a stage
of innovation and development.
2.
Sales in the European market in April increased by 9%
y/y.

At present, the inventory of Qingdao Free Trade Zone is still declining, and the operating rate of downstream tire factories continues to fall
.
With the successive opening of domestic rubber production areas, the supply and demand of raw materials are tight or eased, but the supply of production areas has not yet increased, precipitation is still less than in previous years, positive factors still exist, and fundamentals do not support the continuation of the sharp decline in futures
.
Today's Shanghai rubber 1609 contract fluctuated at a low level, and the lower 11200 line supported the futures price, but the rebound momentum was slightly insufficient, and the market sentiment was unstable, so it is recommended to operate
cautiously.