宝城期货橡胶早报-20250429

Report Summary 1. Report Industry Investment Rating No information provided. 2. Report's Core View - Both Shanghai rubber (RU) and synthetic rubber (BR) are expected to run weakly, with short - term, medium - term, and intraday views being oscillatory and weakly oscillatory [1][5][7]. 3. Summary by Related Catalogs Shanghai Rubber (RU) - Price and Performance: On the night of Monday this week, the 2509 contract of domestic Shanghai rubber futures slightly closed down 0.10% to 14,735 yuan/ton [5]. - Core Logic: After digesting the negative impact of the US "reciprocal tariff" policy, the domestic rubber futures returned to a long - short divergence oscillatory market dominated by supply - demand fundamentals. With the new rubber - tapping season in domestic and foreign natural rubber producing areas and the approaching May Day holiday, the operating rate of domestic tire enterprises declined, raw material procurement demand slowed down, and supply - demand expectations weakened [5]. Synthetic Rubber (BR) - Price and Performance: On the night of Monday this week, the 2506 contract of synthetic rubber futures slightly closed down 1.55% to 11,400 yuan/ton [7]. - Core Logic: Although the macro - sentiment has eased and the domestic auto market's March production and sales data were optimistic, downstream tire enterprises are facing a decline in operating rate due to the approaching May Day holiday, demand expectations have weakened, and the inventory - reduction speed of domestic synthetic rubber is slow, with supply pressure still existing. Affected by the oscillatory decline of domestic crude oil futures prices, it is expected to maintain a weakly oscillatory trend [7].