Shanghai rubber reduced its position and increased its downward rebound

News: 1.
The Philippines will establish its own tire enterprises
.
February and February Vietnam's tianjiao exports increased by 75.
6% year-on-year, mostly exported to China
.

Spot: the 15-year quotation of state-owned whole milk in Shanghai natural rubber market is 16200 (-150) yuan / ton; Vietnam's 3L quotation is 16700 (-400) yuan / ton; 15 years Thailand No.
3 tobacco flakes 17400-17500 (-450/-350) yuan/ton; RMB mixed rubber 16900 (+200) yuan / ton
.
Thai Hat Yai raw material market raw film 72.
22 (-0.
68) baht/kg; Tai San tobacco tablets 75.
23 (+0.
44) baht/kg; Field glue 67.
5 (-4) baht/kg; Cup glue 62 (-1) baht/kg
.
Synthetic rubber: Qilu petrochemical styrene rubber 1502 market price in East China 18000 (-500) yuan / ton; The market price of cis-butadiene rubber is 19800 (-700) yuan / ton
.

Summary of opinion: At present, the operating rate of all-steel and semi-steel of domestic tire factories is higher than the same period last year, and in February 2017, the domestic heavy-duty truck market sold a total of 88,000 vehicles of various types, a significant increase of 152% over the same period last year, but an increase of 6%
month-on-month.
It set a record high in February sales in the heavy-duty truck market, showing that the overall downstream demand for rubber remains good
.
From the perspective of circulation, as of the end of February 2017, the rubber inventory in Qingdao Free Trade Zone increased by about 6.
1% to 166,200 tons, of which the natural rubber inventory increased by 72,000 tons to 123,400 tons, which put pressure on the Shanghai rubber inventory, and the sharp decline in the price of superimposed synthetic rubber dragged
down the Shanghai rubber.
The Shanghai rubber 1705 contract focuses on the pressure around 18000 in the short term, and it is recommended to trade
in the 17000-18400 range.