Shanghai rubber opens low and goes high, oscillating upward

According to monitoring, the main contract of Shanghai rubber closed up
yesterday.
Thai Hat Yai raw material market raw film 52.
63 (-0.
9) baht/kg; Tai San Tobacco Tablets 52.
01 (-1.
88) THB/kg; Field glue 46 (-3.
5) baht/kg; Cup glue 37 (-2) baht/kg
.
Shanghai's 14-year state-owned whole milk price rose by about 150 yuan / ton; The price of Tai No.
3 cigarette tablets rose by 100 yuan / ton
.

Recently, according to relevant sources of the China Rubber Industry Association, the United States filed an emergency application
in the countervailing investigation procedure against the applicant of the "double reverse" case of Chinese truck and bus tires.
Therefore, the U.
S
.
Department of Commerce may rule on emergency situations in the preliminary anti-subsidy ruling on Chinese truck bus tires.
To this end, the China Rubber Industry Association calls on tire companies not to concentrate exports
.
It is reported that if the US Department of Commerce determines that there is an emergency, it will impose a 3-month bond
retroactively on the export goods of Chinese tire enterprises 3 months before the preliminary anti-subsidy ruling.

Domestic news: In May 2016, the added value of industries above designated size increased by 6.
0% year-on-year (the following growth rates of added value are the actual growth rate excluding price factors), the same
as in April.
From a month-on-month perspective, in May, the added value of industries above designated size increased by 0.
45%
over the previous month.
From January to May, the added value of industries above designated size increased by 5.
9%
year-on-year.

According to statistics from the General Administration of Customs, China imported a total of 470,000 tons of rubber in May, an increase of 68% over the same period last year and a decrease of 6% month-on-month.

At present, rubber lacks strong support
from supply and demand fundamentals.

After the Dragon Boat Festival holiday, the market was closed for the opening of Shanghai Rubber
.
Tokyo Rubber rebounded
today after seven consecutive weeks of weekly decline.
Global economic uncertainty and domestic demand remain weak, while the US double-reverse survey of the domestic tire industry has once again impacted
the weak demand for rubber.
It is expected that short-term rubber futures prices will remain weak and volatile, with a narrow consolidation
.