The main contract of Shanghai rubber increased its position and decreased the futures price, which hit a new low in the year

News: Inventory warnings fell in January and April, and second-hand car sales increased by 22.
17%
in the first quarter.
Sales of heavy-duty trucks in February and April increased by 50% y/y to 103,000 units, setting a new high
in the past six years from 2012 to 2017.

In terms of spot: the 15-year quotation of state-owned full latex in Shanghai natural rubber market is 12800-12900 (-500/-400) yuan / ton; Vietnam's 3L quotation is 13800 (-500) yuan / ton; 15 years Thailand No.
3 tobacco flakes 13900 (-400) yuan / ton; RMB mixed rubber 13100-13200 (-600) yuan / ton
.
Thai Hat Yai raw material market raw film 69.
55 (-1.
63) baht/kg; Tai San tobacco tablets 70.
27 (-2.
5) baht/kg; Field glue 64 (+0) baht/kg; Cup glue 47.
5 (-1.
5) baht/kg
.
Synthetic rubber: Qilu petrochemical styrene-butadiene rubber 1502 market price in East China 13700 (-300) yuan / ton; The market price of cis-butadiene rubber is 14800 (-100) yuan / ton
.

Summary of views: At present, from a fundamental point of view, the operating rate of semi-steel tires and all-steel tires in domestic tire factories are lower than the same period last year, and some areas in the south are in the rainy season, and vehicle transportation has been affected to a certain extent, affecting the utilization rate of tires, which in turn has led to a decline in operation and reduced downstream tire demand
.
In April 2017, the domestic heavy-duty truck market sold a total of about 103,000 vehicles of various types, a significant increase of 50% over the same period last year of 68,900 units, and a decrease of 10% month-on-month, setting a new high in the same period from 2012 to 2017, but demand was less than expected
.

From the perspective of circulation, as of May 2, 2017, the rubber inventory in Qingdao Free Trade Zone rose by 29,700 tons to 249,800 tons, an increase of 13.
5% from 200,100 tons in mid-April, and the overall inventory gradually increased; Southeast Asia ushered in a new season of rubber tapping, superimposed on Thailand's 107,000 tons of inventory without enterprise bidding, and the supply further increased
.
On the whole, the loose supply and demand situation remains unchanged
.
Due to the linkage factors of surrounding commodities, the price of Shanghai rubber futures fell
sharply.
The Shanghai rubber 1709 contract focuses on support around 13100 in the short term, and it is recommended to trade
in the 13100-14500 range.