Shanghai rubber opens high and oscillates supply and demand will still restrict the price trend

In terms of market, the 15-year quotation of state-owned whole milk in the Shanghai market was 13800 (+800) yuan / ton; Vietnam 3L quotation 13600 (+600) yuan / ton; 15 years Thailand No.
3 tobacco tablets 16200 (+500) yuan / ton
.
Thai Hat Yai raw material market raw film 53.
32 (+1.
64) baht/kg; Tai San tobacco tablets 56.
8 (+2.
28) baht/kg; Field glue 47 (-0.
5) baht/kg; Cup glue 43 (+1) baht/kg
.
Synthetic rubber, Qilu petrochemical styrene rubber 1502 market price in East China 11400 (0) yuan / ton; The market price of cis-butadiene rubber is 11300 (0) yuan / ton
.

Inventory situation, exchange inventory pressure continues to rise, although the recent Qingdao Free Trade Zone rubber inventory has fallen significantly, but still higher than the same period in the past two years
.
From the downstream situation, the operating rate of domestic all-steel tires and semi-steel tires increased month-on-month last week, but the momentum was still weak
.
At present, in July and August, it is difficult to increase the factory operating rate significantly under high temperature weather, and the finished product inventory of tire factories is gradually rising, which is also one of
the factors affecting the later operating rate.
From the perspective of the substitute market, most domestic butadiene plants maintain normal operation, and the supply of domestic butadiene in the later period is expected to increase, and at present, some downstream synthetic rubber in the hands still have a certain inventory digestion, and the market price of synthetic rubber in the later period is still at risk
of weakening.

Overall, under the cutting season, supply increase expectations and weaker demand will still restrict the rise in natural rubber market prices, 1709 contract recommended to pay attention to the pressure around 14500, high selling short idea operation
.