Policy stimulus: during the National Day holiday, the reduction of the policy and export tax rebate, and other factors such as plastic.The third RRR cut in the year: on October 7, the central bank decided to lower the RRR for large commercial Banks, joint-stock commercial Banks, urban commercial Banks, non-county rural commercial Banks and foreign Banks by 1 percentage point from October 15, 2018, marking the fourth RRR cut so far this year.Adjustment of export tax rebate rate: the executive meeting of the state council held on October 8 decided that from November 1, 2018, the current export tax rebate rate of goods will be raised to 16% from 15% and some 13%, in accordance with the principle of structural adjustment and in accordance with international prevailing practices.9% to 10%, some of them to 13%;5% to 6% and some to 10%.Export rebate rates for products with high energy consumption, high pollution, resource properties and facing the task of capacity reduction will remain unchanged.We will further simplify the tax system by reducing the tax rebate rate from seven to five.Policy positive tire exports.
Downstream positive: as of September 30, 2018, the rubber inventory in Qingdao bonded area decreased by 23% to 162,900 tons.Preliminary statistics show that all rubber varieties inventory across the decline, but the total is still high.The operating rate of the downstream tire in September has basically returned to normal. As of September 28, the operating rate of all-steel tire of tire enterprises in shandong province was 74.95%, 1.87 percentage points higher than that of the previous month, and 10.04 percentage points higher than that of the previous year.
According to Shenyang Sunnyjoint, at the beginning, natural rubber has seen a short-term surge due to favorable policies and other policies, which is stronger than the previous market performance. Short-term upward trend can be seen, but the overall rapid rise is short of foundation, and the range is mainly fluctuating. We still need to pay attention to the impact of downstream demand and positive domestic and foreign news.