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On Wednesday, the Shanghai rubber market fluctuated at a high level, reducing positions and shrinking volume
.
The Shanghai rubber 1701 contract closed at 13225 yuan / ton, up 0.
69% from the previous trading day, reducing its position by 3950 lots and trading 433294 lots
.
News: In January and August, Japan's synthetic rubber production increased, and the increase in cis-butte was large
.
2.
The decline in rubber prices has boosted the profits of tire companies
.
Spot: the 15-year quotation of state-owned whole milk in the Shanghai market is about 10950-11000 (+50/+50) yuan / ton; Vietnam 3L quotation 11300-11400 (+200/+200) yuan/ton; 15 years Thailand No.
3 tobacco tablets 13300-13450 (+50/0) yuan/ton; RMB mixed rubber 11500-11600 (+100/+100) yuan/ton
.
Thai Hat Yai raw material market raw film 51.
87 (+0.
3) baht/kg; Tai San tobacco tablets 53.
81 (+0.
22) baht/kg; field glue 49 (+0.
5) baht/kg; Cup glue 43 (+0.
5) baht/kg
.
Synthetic rubber: Qilu petrochemical styrene rubber 1502 market price in East China 11500 yuan / ton (+100) ; The market price of cis-butadiene rubber is 12900 yuan / ton (+100).
At present, the operating rate of all-steel and semi-steel of domestic tire factories is stable at around 70%, higher than the same period last year, and the sales volume of heavy truck market has increased year-on-year, indicating that the overall downstream demand performance is better
.
From the perspective of circulation, as of mid-September, rubber stocks in Qingdao Free Trade Zone fell by 11.
5%, a new low in nearly five years; The domestic full latex price is obviously discounted with mixed rubber, which is conducive to the outflow of stock on the exchange, and the old rubber warehouse receipt is solved
.
Raw material prices in Thailand continue to rise, and the supply of new rubber is still relatively tight; The recent sharp rise in synthetic rubber has provided support
for the price of natural rubber.
Driven by the fundamentals of bullishness, the short-term Shanghai rubber 1701 contract may be strong, but it is necessary to be wary of the risk of the return of the current price spread, pay attention to the pressure around 13300, and recommend trading
in the 13000-13300 range.
