Shanghai rubber position reduction and reduction recommended range trading

News: 1.
As of mid-February 2017, rubber stocks in Qingdao Free Trade Zone rose by about 29%, exceeding 150,000 tons
.
2.
According to the data of the Passenger Association, the wholesale sales of domestic narrow passenger cars in 2016 increased by 17% year-on-year to 23685048 units, breaking through
again after 2015.

In terms of spot: the 15-year quotation of state-owned whole milk in Shanghai natural rubber market is 18950-19050 (-750/-850) yuan / ton; Vietnam 3L quotation 19300-19400 (-600/-500) yuan/ton; 15 years Thailand No.
3 tobacco tablets 20350 (-850) yuan/ton; RMB mixed rubber 19400 (-350) yuan / ton
.
Thai Hat Yai raw material market raw film 87.
78 (-2.
12) baht/kg; Tai San tobacco tablets 88.
38 (-2.
97) baht/kg; field glue 81 (+2) baht/kg; Cup glue 74 (-1) baht/kg
.

Synthetic rubber: Qilu petrochemical styrene rubber 1502 market price in East China 23500 (-500) yuan / ton; The market price of cis-butadiene rubber is 25400 (-300) yuan / ton
.

At present, the operating rate of all-steel and semi-steel of domestic tire factories is slightly higher than the same period last year, and the domestic heavy-duty truck market sold a total of about 82,000 vehicles in January 2017, an increase of 122% over 36,800 units in the same period last year, but an increase of 9%
month-on-month.
It shows that the overall demand for rubber downstream remains good
.
From the perspective of circulation, as of mid-February 2017, rubber stocks in Qingdao Free Trade Zone rose by about 29%, exceeding 150,000 tons
.
The price of synthetic rubber is significantly higher than that of natural rubber, which forms a certain support
for the futures price of Shanghai rubber.
The Shanghai rubber 1705 contract focuses on support around 19800 in the short term, and it is recommended to trade
in the 19800-21100 range.