Shanghai rubber reduced its position and increased the futures price to close higher

News: 1.
China's natural rubber imports in the first five months fell 23%
year-on-year.
2.
Michelin's sales in the first half of the year decreased by 4.
1%.

In terms of spot: the 16-year quotation of state-owned whole milk (Yunxiang) in the Shanghai market is 10,000 (+150) yuan / ton; Vietnam 3L quotation 10350 (+50) yuan / ton; Thailand No.
3 tobacco tablets 12300 (+50) yuan / ton
.
Thai Hat Yai raw material market raw film 42.
89 (0) baht/kg; Tai San Tobacco Tablets 44.
51 (0) Baht/kg; Field glue 42 (0) baht/kg; Cup glue 36 (0) baht/kg
.

Synthetic rubber: Qilu petrochemical styrene rubber 1502 market price in East China 12500 (0) yuan / ton; The market price of cis-butadiene rubber is 13600 (+200) yuan / ton
.

Summary of views: The recent weakening of rain in the production area is conducive to the increase in the
production of new rubber.
After the end of the export restriction policies of Thailand, Malaysia and India, domestic imports increased
significantly.

From the perspective of inventory, Qingdao Free Trade Zone inventory continued to grow, while exchange inventory and hidden inventory also showed that the future market is still facing greater inventory pressure
.
However, at present, the futures price of Shanghai rubber and mixed rubber are close to flat water, and the futures price is close to the psychological threshold of 10,000 yuan, and the futures price continues to have a slight lack of downward momentum, and the short-term recommendation of the main 1809 contract of Shanghai rubber is to trade
in the range of 10000-10700.