Shanghai rubber reduced its position to the upside and closed up again

News: 1.
As of mid-January, rubber stocks in Qingdao Free Trade Zone soared, exceeding 120,000 tons
.
2.
ANRPC: Thailand flood cut Q1 global sky rubber production, annual output increased by 4%.

Spot: Shanghai natural rubber market 15 years state-owned whole milk quotation in 19950 (-150) yuan / ton; Vietnam's 3L quotation is 19100 (-200) yuan/ton; 15 years Thailand No.
3 tobacco tablets 21450 (-150) yuan/ton; RMB mixed rubber 19000-19200 (+350) yuan / ton
.
Thai Hat Yai raw material market raw film 84.
31 (+0.
22) baht/kg; Tai San Tobacco Tablets 88.
88 (+0.
67) THB/kg; field glue 80 (+3) baht/kg; Cup glue 72 (+1) baht/kg
.
Synthetic rubber: Qilu petrochemical styrene rubber 1502 market price in East China 24000 (+0) yuan / ton; The market price of cis-butadiene rubber is 25500 (+0) yuan / ton
.

Summary: At present, the operating rate of all-steel and semi-steel of domestic tire factories is higher than the same period last year, and the domestic heavy-duty truck market sold a total of about 76,000 vehicles in December, an increase of 56% over 49,000 units in the same period last year, but also down 17%
from November.
It shows a slight contraction
in overall downstream demand.
From the perspective of circulation, as of mid-January 2017, the total rubber inventory of Qingdao Bonded Bureau rose by 16%, and the total inventory exceeded 120,000 tons
.
The price of synthetic rubber is significantly higher than the price of natural rubber, which forms a certain support
for the price of Shanghai rubber.
The Shanghai rubber 1705 contract focuses on the pressure around 22000 in the short term, and it is recommended to trade
in the range of 20000-22000.