Shanghai rubber shock absorption closed lower recommended range trading

News: 1.
Apollo Tyre's financial report showed that net profit in the fourth quarter increased by 6% to Rs.
296 crore
.
Meanwhile, net sales increased by 17 per cent to Rs.
3,435 crore
.
2.
The United States ruled that there was dumping of Chinese-made truck and bus tires, with a dumping range of 9% to 22.
57% and a countervailing duty rate of 38.
61% to 65.
46%.

Spot: Shanghai natural rubber market 15-year state-owned whole milk quotation in 18800-19000 (-100/-100) yuan / ton; Vietnam's 3L quotation 19500 (-500) yuan / ton; 15 years Thailand No.
3 tobacco tablets 20350-20500 (-50/+100) yuan/ton; RMB mixed rubber 18900 (0) yuan / ton
.
Thai Hat Yai raw material market raw film 88.
52 (-0.
36) baht/kg; Tai San tobacco tablets 90.
12 (-0.
17) baht/kg; Field glue 83 (-5) baht/kg; Cup glue 74 (-2) baht/kg
.

Synthetic rubber: Qilu petrochemical styrene rubber 1502 market price in East China 24400 (-100) yuan / ton; The market price of cis-butadiene rubber is 26000 (-300) yuan / ton
.

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 increased by 12.
4% from December 30, 2016 to 121,800 tons, and the total inventory exceeded 120,000 tons
.
The price increase of synthetic rubber is still strong, forming a certain support
for the Shanghai rubber futures price.
The Shanghai rubber 1705 contract focuses on support around 19700 in the short term, and it is recommended to trade
in the 19700-20600 range.