橡胶产业数据日报-20250822

Report Summary 1) Report Industry Investment Rating No information provided. 2) Core View of the Report The rubber market shows a volatile performance. As the commodity market approaches the September delivery, it returns to the fundamental logic. The previous "anti - involution" trading expectation has cooled down, leading to weak commodity sentiment. Rubber may follow a volatile and weak trend. The recommended operation is to stay on the sidelines for single - side trading and focus on the arbitrage of going long on RU2509 and short on RU2601 [3]. 3) Summary by Related Catalogs Futures Disk - Domestic Futures: RU主力 price is 15720, up 45 from the previous value; NR主力 is 12600, up 75; BR主力 is 11775, up 60 [3]. - Foreign Futures: Tocom RSS3 is 316.5 yen/kg, up 2.7; Sicom TF is 170.8 cents/kg, unchanged [3]. - Inter - period Spreads: RU2601 - RU2509 is 1000, up 45; RU2605 - RU2601 is 95, down 10; NR主力 - 次主力 is - 20, down 70; BR主力 - 次主力 is 20, up 10 [3]. - Futures Spreads: RU - NR is 3120, down 30; RU - BR is 3945, down 15; NR - BR is 825, up 15 [3]. - Cross - market Spreads: RU - Tocom RSS3 ($) is 42, down 12; NR - Sicom TF ($) is 47, up 11 [3]. Raw Material Prices - Thailand: Glue price is 54.70 baht/kg, cup - rubber price is 49.20 baht/kg, down 0.15 [3][5]. - Hainan and Yunnan: Hainan glue for concentrated latex is 14400 yuan/ton, unchanged; Hainan glue for whole - milk is 13200 yuan/ton, down 200; Yunnan glue for concentrated latex is 14500 yuan/ton, unchanged; Yunnan rubber block for whole - milk is 14200 yuan/ton, up 100 [3]. Factory Costs and Profits - Concentrated Latex Production Profits: Thailand is 929, up 55; Hainan is 640, unchanged [3]. - Smoked Sheet and No.20 Rubber Gross Profits: Thailand No.20 rubber is - 189, unchanged; domestic 9710 is 250, unchanged [3]. Domestic Spot - Light - colored Rubber: Old whole - milk is 14750, unchanged; Vietnam 3L is 14900, up 50; Thai mixed is 14620, up 90; Malaysian mixed is 14570, up 90 [3]. - Dark - colored Rubber: Thai standard is 12903, up 90; domestic standard No.2 is 13850, unchanged [3]. - Synthetic Rubber: Butadiene rubber BR9000 is 11750, up 150; styrene - butadiene SBR1502 is 12300, up 150; styrene - butadiene SBR1712 is 11300, up 100 [3]. Overseas Spot - Standard Rubber: Thai standard CIF is 1815, up 20; Malaysian standard CIF is 1810, up 25; Indian standard CIF is 1735, up 15 [3]. Futures - Spot Spreads - RU Spreads: RU - Thai mixed is 100, down 90; RU - old whole - milk is - 30, unchanged; RU - Vietnam 3L is - 180, down 50 [3]. - NR Spreads: NR - Thai standard delivery profit is - 568, down 70; NR - Indian standard delivery profit is 6, down 70; NR - Malaysian standard delivery profit is - 532, down 105 [3]. Spot Spreads - Variety Spreads: Thai standard - Thai mixed ($) is 10, up 5; Vietnam 3L - Thai mixed is 280, down 40; domestic standard No.2 - Thai mixed is - 770, down 90 [3]. Supply, Inventory and Demand - Supply: Thailand's raw material glue price is 54.7 baht/kg, cup - rubber price is 49.20 baht/kg [3]. - Inventory: As of August 17, 2025, China's natural rubber social inventory is 128.5 tons, up 0.75 tons, an increase of 0.6%; dark - colored rubber social total inventory is 80.6 tons, up 1.2%; light - colored rubber social total inventory is 47.9 tons, down 0.4% [3]. - Demand: As of August 21, the capacity utilization rate of all - steel tire sample enterprises is 64.97%, up 2.35 percentage points month - on - month and 7.01 percentage points year - on - year; the capacity utilization rate of semi - steel tire sample enterprises is 71.87%, up 2.76 percentage points month - on - month and down 7.81 percentage points year - on - year [3].