宝城期货橡胶早报-20250729

Report Summary 1. Report Industry Investment Rating - No industry investment rating is provided in the report. 2. Report's Core View - Both Shanghai rubber (RU) and synthetic rubber (BR) futures are expected to maintain a weakly fluctuating trend on Tuesday, July 29, 2025, despite an initial improvement in market sentiment due to macro - factors [5][7]. 3. Summary by Related Catalogs Shanghai Rubber (RU) - Price Performance: On Monday, the 2509 contract of Shanghai rubber futures closed slightly lower by 1.15% to 15,065 yuan/ton [5]. - Market Outlook: The short - term view is fluctuating, the medium - term view is fluctuating strongly, and the intraday view is fluctuating weakly. It is expected to run weakly [1][5]. - Driving Logic: Although macro - factors such as trade agreements between the US, Europe, and China improved market risk appetite, the sharp decline in domestic coal futures prices since last Friday night weakened the bullish sentiment in the commodity futures market, leading to a weakening of Shanghai rubber [5]. Synthetic Rubber (BR) - Price Performance: On Monday, the 2509 contract of synthetic rubber futures closed slightly lower by 1.57% to 11,935 yuan/ton [7]. - Market Outlook: The short - term view is fluctuating, the medium - term view is fluctuating strongly, and the intraday view is fluctuating weakly. It is expected to run weakly [1][7]. - Driving Logic: Similar to Shanghai rubber, the improvement in macro - factors was offset by the decline in coal futures. Additionally, the weakness of crude oil and Shanghai rubber also contributed to the decline of synthetic rubber [7].