宝城期货橡胶早报-20250529

Report Summary 1. Report Industry Investment Rating - No information provided in the report. 2. Report's Core View - The overall view of the rubber and synthetic rubber markets is that they are likely to operate weakly in the short - term and remain volatile in the medium - term. Specifically, the domestic Shanghai rubber futures 2509 contract and the synthetic rubber futures 2507 contract are expected to maintain a weakly volatile trend on Thursday [1][5][7]. 3. Summary by Related Catalogs Shanghai Rubber (RU) - Short - term, Medium - term and Intraday Views: Short - term: volatile; Medium - term: volatile; Intraday: weakly volatile. The reference view is weakly operating [1][5]. - Core Logic: As macro factors are gradually digested, the trading logic of the rubber market turns to the supply - demand fundamentals. With the full - scale tapping in domestic and foreign natural rubber producing areas, raw material output is steadily increasing and new rubber supply is rising. Meanwhile, the operating rate of the downstream tire industry is gradually returning to normal, and procurement demand is expected to increase. On Wednesday night, the 2509 contract of domestic Shanghai rubber futures fell 1.95% to 13,795 yuan/ton, continuing the downward trend [5]. Synthetic Rubber (BR) - Short - term, Medium - term and Intraday Views: Short - term: volatile; Medium - term: volatile; Intraday: weakly volatile. The reference view is weakly operating [1][7]. - Core Logic: As macro factors are gradually digested, the trading logic of the synthetic rubber market turns to the supply - demand fundamentals. The approaching US debt crisis in June may trigger a new round of negative macro - impacts. OPEC+ oil - producing countries are accelerating the production increase, and crude oil demand is expected to be weak. Recently, the supply of synthetic rubber is expected to increase, and the utilization rate of device capacity is rising. Although the 2507 contract of domestic synthetic rubber futures slightly rose 0.18% to 11,350 yuan/ton on Wednesday night, it is expected to maintain a weakly volatile trend on Thursday [7].