Shanghai rubber reduced its position and reduced its futures price rose slightly

News: 1.
In the first four months, Vietnam's natural rubber exports increased by 24.
5% year-on-year, and exports to China increased by 37.
4%.

2.
Apollo Tire sales and operating profit increased
by 18%.
3.
In the first four months, China's imports of natural and synthetic rubber increased by 2.
3%
year-on-year.

Market quotation: the quotation of 17-year state-owned whole milk (Yunxiang) in the Shanghai market is 11300 (-150) yuan / ton; Vietnam's 3L quotation is 11700 (-100) yuan / ton; Thai No.
3 tobacco tablets 13050 (-150) yuan/ton; Yunnan 18 years full latex 11300 (-50) yuan / ton
.
The purchase price of natural rubber fresh glue and dry rubber of Hainan state-owned rubber processing plant was raised to 12,500 yuan / ton
.
Thai Hat Yai raw material market raw film 50.
3 (0) baht/kg; Tai San Tobacco Tablets 53.
25 (-0.
15) THB/kg; Field glue 50.
5 (-0.
3) baht/kg; Cup gum 41 (-0.
5) baht/kg
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber 1502 market price in East China 11100 (0) yuan / ton; The market price of cis-butadiene rubber is 11200 (0) yuan / ton
.

Warehouse receipt inventory: warehouse receipt 421460 tons, -280 tons
.
Main positions: Top 20 long positions 102969, +466, short positions 136062, -492
.
Increase and reduce airspace, reduce
headroom.

Summary: At present, the domestic production area has entered the rubber tapping period, and due to the dry weather in the Yunnan production area, the cutting has been partially stopped, and the purchase price of glue in the production area has increased
.
In terms of imports, Vietnam's exports to China increased sharply year-on-year in April, but with the strengthening of customs supervision over the import of mixed rubber, domestic imports may be slightly reduced
in the future.
From the perspective of inventory, exchange inventory and inventory outside the bonded zone have continued to increase, and supply pressure is still obvious
.
On the demand side, the recent operation of domestic tire factories has remained relatively good, but from the export data, the export decline in the first quarter of this year is obvious, and the demand side is not optimistic
.
Technically, the RU1909 contract is recommended to trade
in the 11500-11800 range for short term.