The main force of Shanghai rubber moved the warehouse for the month It is expected that the rising momentum is insufficient

News: Apollo Tyre's net revenue increased by 30%
in the first and second quarters.
2.
In the first half of the year, Japan's tire production increased by 1.
5% year-on-year, and sales decreased slightly by 0.
7%.

In terms of spot: the quotation of Yunnan's 16-year state-owned whole milk (Baodao) in the Shanghai market is 10100 (+100) yuan / ton; Vietnam's 3L quotation is 10450 (+50) yuan / ton; Thailand No.
3 tobacco sheet 12400 (+100) yuan / ton
.
Thai Hat Yai raw material market raw film 42.
9 (+0.
24) baht/kg; Tai San Tobacco Tablets 44.
39 (+0.
28) THB/kg; Field glue 41 (0) baht/kg; Cup gum 36.
5 (+0.
5) baht/kg
.

Synthetic rubber: Qilu petrochemical styrene-butadiene rubber 1502 market price in East China 12900 (0) yuan / ton; The market price of cis-butadiene rubber is 14000 (0) yuan / ton
.

Inventories: futures inventories were 491,060 tons, an increase of 1,210 tons
.

Summary of views: At present, the main production areas at home and abroad are in the cutting period, the weather is relatively normal, and the output of new rubber is gradually increasing
.
After the end of the export restriction policies of Thailand, Malaysia and India, domestic imports increased sharply, and imports increased year-on-year
for two consecutive months.

From the perspective of inventory, Qingdao Free Trade Zone inventory continued to grow, while exchange inventory and hidden inventory also showed that the future market is still facing greater inventory pressure
.
In August, the hot weather and the accumulated finished product inventory in the early stage caused the operating rate of downstream tire factories to decline
.

At present, the transfer of the main contract of Shanghai rubber has been completed, but the Shanghai rubber 1809 contract and the mixed rubber are close to flat water, and the corresponding pressure of the old warehouse receipt needs to be alleviated by futures discount spot, and the market will continue to pay attention to the change
in the spread of the 1809-1901 contract.

From the perspective of the Shanghai rubber 1901 contract, this early price performance stagnation, today in the capital driven up, the future market attention to the 12600 line of pressure, is expected to rise momentum is insufficient, short-term recommended to operate
in the 12000-12600 range.