There is no downward momentum for the time being, and Shanghai rubber has more ideas

Domestic: Spot inquiry positive, after Monday's $100 sharp rise buyers, buyers hesitated to receive goods, then prices fell rapidly, downstream a small amount of replenishment but not volume, the overall atmosphere is weak
.

Foreign: The weather in the production area is good this week, the price of glue rises rapidly, the price of cup glue is stable, the rise and fall of US dollar goods basically follows the domestic market, and the short-term production area has no significant downward momentum
.

Rubber still maintained a more idea
in the first quarter.
The recovery of downstream operating rate is better than last year, demand is temporarily stable, and the price of raw materials for glue is close to stopping on the supply side, and there is no downward momentum in the short term; Inventory in the bonded zone grew faster month-on-month, but the absolute growth was limited, and there was little pressure on prices
.
The overall is not too strong downward momentum, and there are still more ideas to treat
.

Shanghai rubber: let the big rise and fall be allowed

This week's sudden plot turn, Wednesday's upward rush for a breakthrough, and then all the way down, the trend of chemicals is basically the same, rubber fundamentals have not seen a major bearish, short-term stability, no too strong downward momentum, should not be overly pessimistic
.

Spot gas buying gradually resumed

1.
Domestic spot prices rose slightly

Spot inquiries were positive, and buyers hesitated to receive goods after Monday's $100 jump, and then prices fell rapidly, and a small amount of downstream replenishment but did not release volume, and the overall atmosphere was weak
.

2.
The glue in the Thai production area is calm

The weather in the production area is good this week, the price of glue rises rapidly, the price of cup glue is stable, the rise and fall of US dollar goods basically follows the domestic market, and there is no significant downward momentum
in the short-term production area.

3.
Domestic synthetic rubber suddenly appeared inflection point

Shandong Qilubutine 1502 mainstream quotation 23500 cisine 25600 yuan / ton, butadiene price rise momentum is insufficient, downstream replenishment is not as expected, the transaction is light, synthetic rubber may continue to be weak
.

Futures inventories continue to grow, and bonded zone inventories are slowly increasing

As of mid-February 2017, rubber stocks in Qingdao Free Trade Zone soared to 156,600 tons, an overall increase of 34,800 tons, or 28.
57%,
from 121,800 tons in mid-January.
Among them, natural rubber was 116,200 tons, an increase of 25,100 tons, an increase of 27.
55%; synthetic rubber 36,000 tons, an increase of 9,800 tons, an increase of 37.
4%; Composite rubber was 04,400 tons, a decrease of 0.
01 million tons, a decrease of 2.
22%.

There are more warehouses around the Spring Festival, and the sharp increase in the inventory of natural rubber and synthetic rubber is the main reason for
the overall inventory rise.
Futures inventories are about 266,000 tons, and futures market inventories are still growing
.

The month-on-month increase in inventory in the bonded zone is large, but the absolute quantity is limited, and the price pressure is not large after the short-term impact, and the pace of arrival and downstream replenishment in the later period are concerned
.

This week, all-steel tires resumed normal production, and the operating rate increased significantly year-on-year, but it was not as good as the previous year, and the price of all-steel tires rose again, up more than
5%.
The start of semi-steel tires increased significantly month-on-month, but it decreased slightly from the previous level, and strict environmental protection supervision had a slight impact
on the start.

Rubber still maintained a more idea
in the first quarter.
The recovery of downstream operating rate is better than last year, demand is temporarily stable, and the price of raw materials for glue is close to stopping on the supply side, and there is no downward momentum in the short term; Inventory in the bonded zone grew faster month-on-month, but the absolute growth was limited, and there was little pressure on prices
.
The overall is not too strong downward momentum, and there are still more ideas to treat
.