Shanghai rubber warehouse reduction and downstream demand shrank slightly

News: U.
S.
tire imports in January and November increased by 4.
0%
year-on-year.
2.
The United States imposes countervailing duties
on engineering tires imported from India and Sri Lanka.

In terms of spot: the 15-year quotation of state-owned whole milk in Shanghai natural rubber market was 18650 (-300) yuan / ton; Vietnam 3L quotation 19300 (0) yuan / ton; 15 years Thailand No.
3 tobacco flakes 20550 (0) yuan / ton; RMB mixed rubber 18900 (0) yuan / ton
.
Thai Hat Yai raw material market raw film 82.
72 (-0.
88) baht/kg; Tai San Tobacco Tablets 86.
31 (-0.
66) THB/kg; field glue 82 (+1) baht/kg; Cup glue 71 (-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
.

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 of synthetic rubber is significantly higher than the price of natural rubber, which forms a certain support
for the price of Shanghai rubber.
Thailand's short-term storage has a certain suppressive effect
on the Shanghai rubber futures price.
The Shanghai rubber 1705 contract focuses on support around 19300 in the short term, and it is recommended to trade
in the 19300-20100 range.