Shanghai rubber position reduction increment recommended range trading

News: In January and February, Japan's synthetic rubber exports fell by 12.
0% year-on-year, and exports to China fell by 28.
1%.

In February and February, Japan's imports of tianjiao increased slightly by 1.
1%
year-on-year.

Spot: the 16-year quotation of state-owned whole milk in the Shanghai market is 10400-10500 (0/0) yuan / ton; Vietnam 3L quotation 10600 (0) yuan / ton; Thailand No.
3 tobacco tablets 13200 (+100) yuan / ton
.
Thai Hat Yai raw material market raw film 45.
6 (+0.
05) baht/kg; Tai San Tobacco Tablets 48.
69 (+0.
32) THB/kg; Field glue 44 (0) baht/kg; Cup glue 34.
5 (0) baht/kg
.

Synthetic rubber: Qilu petrochemical styrene rubber 1502 market price in East China 11700 (0) yuan / ton; The market price of cis-butadiene rubber is 11500 (-100) yuan / ton
.

From the perspective of inventory, the inventory of Qingdao Free Trade Zone has declined, indicating that domestic spot began to destock during the shutdown period, and follow-up attention can be paid to whether inventory can continue to decline
.

From the downstream situation, the operating rate of tire factories has increased recently, but the price of raw materials such as carbon black, chemical additives, steel wire, cord and other raw materials has risen sharply, as well as under high pressure of environmental protection, all of which have a direct impact
on the operation of tire factories.

The Shanghai rubber 1805 contract is recommended to focus on support around 11000, and the short-term recommendation is to trade
in the 11000-11700 range.