宝城期货橡胶早报-20250714

1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints of the Report - For both Shanghai Rubber (RU) and Synthetic Rubber (BR), short - term and medium - term views are "oscillation", while the intraday view is "oscillation with a slight upward bias", and the reference view is "running with a slight upward bias" [1][5][7] 3. Summary by Related Catalogs Shanghai Rubber (RU) - Market Situation: On the night of last Friday, the 2509 contract of domestic Shanghai Rubber futures showed an oscillation with a slight downward trend, and the futures price slightly decreased by 0.42% to 14,325 yuan/ton. It is expected that on Monday, the 2509 contract of domestic Shanghai Rubber futures may maintain an oscillation and stabilization trend [5] - Core Logic: The recent domestic high - level meeting set the tone, including governing low - price disorderly competition and promoting the orderly withdrawal of backward production capacity. A new round of supply - side reform may boost domestic commodity futures. Currently, the supply side of the rubber market is in the peak tapping season with strong incremental expectations and large month - on - month output pressure. At the same time, downstream demand is weak, the growth rate of tire production and sales has slowed down, and terminal demand has entered the off - season [5] Synthetic Rubber (BR) - Market Situation: On the night of last Friday, the 2509 contract of domestic synthetic rubber futures showed an oscillation and consolidation trend, and the futures price slightly decreased by 0.56% to 11,520 yuan/ton. It is expected that on Monday, the 2509 contract of domestic synthetic rubber futures may maintain an oscillation with a slight upward trend [7] - Core Logic: The recent domestic high - level meeting set the tone, including governing low - price disorderly competition and promoting the orderly withdrawal of backward production capacity. A new round of supply - side reform may boost domestic commodity futures. Recently, the operating loads of some private butadiene rubber plants in East and South China have slightly increased, driving the further improvement of domestic butadiene rubber production and capacity utilization. At the same time, downstream demand is weak, the growth rate of tire production and sales has slowed down, and terminal demand has entered the off - season [7]