Shanghai rubber reduced its position and increased its futures price slightly higher

News: 1.
Thailand's exports of tianjiao in June increased year-on-month, and exports to China increased
sharply.
2.
Affected by fungal diseases, Indonesia's production of tianjiao in 2019 is expected to decline by 15%.

3.
Indonesia's natural rubber exports in 2019 are expected to decline by 450,000-540,000 tons
.

Market quotation: the quotation of 17-year state-owned whole milk (Yunxiang) in the Shanghai market is 10750 (+200) yuan / ton; Vietnam 3L quotation 11200 (+200) yuan / ton; Thailand No.
3 tobacco tablets 12800 (+150) yuan/ton; Yunnan 18 years full latex 10850 (+150) yuan / ton
.
The purchase price of natural rubber fresh glue and dry rubber of Hainan State-owned Rubber Processing Plant remained stable at 9800 yuan / ton / ton
.
Thai Hat Yai raw material market raw film 47.
45 (+0) baht/kg; Tai San Tobacco Tablets 49.
19 (+0) THB/kg; field glue 45.
5 (+0) baht/kg; Cup glue 37 (+0) baht/kg
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber 1502 market price in East China 10000 (+0) yuan / ton; The market price of cis-butadiene rubber is 10400 (+0) yuan / ton
.

Warehouse receipt inventory: warehouse receipt 401930 tons, +-160 tons
.
Main positions: the top 20 long positions 77611, -3294, short positions 110356, -3098
.
Long and short are reduced at the same time, and headroom is increased
.

Summary: At present, domestic and foreign production areas are in the rubber tapping period, and the supply is gradually increasing
.
Although stocks outside the bonded zone have continued to decline recently, Thailand's exports of Chinese standard rubber increased sharply in June, and inventories will still recover
as imported sources continue to arrive at Hong Kong.
On the demand side, domestic heavy-duty truck sales in June fell sharply, coupled with the recent domestic tire consumption gradually entered the off-season, the operating rate of domestic tire factories continued to decline, and the demand side was not optimistic
.
However, the current price has fallen into the cost range, and the all-latex sticker mixed rubber may make the futures price decline space limited
.
News of drought in Thailand and pests and diseases in Indonesia drove gum prices higher today, but investors should treat
them rationally due to the limited actual impact.
Technically, the RU1909 contract price broke through the previous resistance level, and the short-term price center of gravity may continue to rise, and it is recommended to trade
in the 10800-11000 range.