Shanghai rubber reduced its position to close down, and the demand side is not optimistic

In terms of news, the auto dealer inventory warning index reached 62.
2%
in January and July.
2.
China's auto market in June fell year-on-year for 12 consecutive months, and production increased
month-on-month.
3.
The export volume of rubber in the first half of the year increased by 11%
year-on-year.

Market quotation, Shanghai market 17-year state-owned whole milk (Yunxiang) quotation at 10300 (-200) yuan / ton; Vietnam's 3L quotation is 10800 (-200) yuan / ton; Thailand No.
3 tobacco flakes 12600 (-150) yuan/ton; Yunnan 18 years full latex 10600 (-100) 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 40.
55 (-0.
89) baht/kg; Tai San Tobacco Tablets 43 (-1.
75) THB/kg; Field glue 40 (-1) baht/kg; Cup gum 33.
3 (-0.
5) baht/kg
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber 1502 market price in East China 10300 (+100) yuan / ton; The market price of cis-butadiene rubber is 10500 (+0) yuan / ton
.

Warehouse receipt inventory, warehouse receipt 412460 tons, +1210 tons
.
Main positions: top 20 long positions 61424, -2099, short positions 83916, -4200
.
Long and short are reduced together, and headroom is reduced
.

Summary: At present, domestic and foreign production areas are in the rubber tapping period, and the supply is gradually increasing
.
The recent sharp drop in raw material market prices in Thailand indicates that the source supply is sufficient
.
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
.
From a technical point of view, the impact of market sentiment, the RU1909 contract fell below the previous support, short-term focus on the support around 10200 below, it is recommended to trade
in the 10200-10600 range.