宝城期货橡胶早报-20250820

Report Industry Investment Rating - Not provided Core Viewpoints - The domestic Shanghai rubber futures market and synthetic rubber futures market are dominated by supply and demand fundamentals, and both are expected to run weakly. The 2601 contract of Shanghai rubber futures and the 2510 contract of synthetic rubber futures may maintain a weak and volatile trend on Wednesday [5][7]. Summary by Related Catalogs Shanghai Rubber (RU) - Short - term: Volatile; Medium - term: Volatile; Intraday: Volatile and weak; Reference view: Weak operation [1] - Core logic: Currently, the Southeast Asian rubber - producing areas are in the peak tapping season, and domestic producing areas are also continuously releasing new rubber output, with high supply pressure. At the same time, the inventory of the domestic tire industry has declined, the operating load has decreased, and export sales have been blocked with a slowdown in growth. On Tuesday night, the 2601 contract of domestic Shanghai rubber futures showed a weak downward trend, with the futures price dropping 2.27% to 15,520 yuan/ton [5]. Synthetic Rubber (BR) - Short - term: Volatile; Medium - term: Volatile; Intraday: Volatile and weak; Reference view: Weak operation [1] - Core logic: Currently, the operating load of domestic synthetic rubber plants is stable, and the supply pressure has increased slightly. The inventory of the domestic tire industry has declined, the operating load has decreased, and export sales have been blocked with a slowdown in growth. On Tuesday night, the 2510 contract of domestic synthetic rubber futures showed a weak downward trend, with the futures price dropping 3.92% to 11,400 yuan/ton [7]