Report Summary 1. Report Industry Investment Rating - No industry investment rating information is provided in the report. 2. Report's Core View - The domestic Shanghai rubber (RU) and synthetic rubber (BR) futures markets are expected to maintain a weak and volatile trend in the short - term and intraday, and a volatile trend in the medium - term, mainly due to the dominance of bearish fundamentals [1][5][7]. 3. Summary by Related Catalogs 3.1 General Information - The time - period definitions are: short - term is within one week, medium - term is from two weeks to one month, and the concepts of "volatilely strong/weak" only apply to intraday views [1][4]. - For varieties with night trading, the starting price is the night - trading closing price; for those without, it's the previous day's closing price. The ending price is the day - trading closing price of the current day, used to calculate the price change [2]. - A decline greater than 1% is considered a fall, 0 - 1% is volatilely weak, a rise of 0 - 1% is volatilely strong, and a rise greater than 1% is a rise [3]. 3.2 Shanghai Rubber (RU) - Short - term, Medium - term, and Intraday Views: Short - term and medium - term views are volatile, and the intraday view is volatilely weak, with an overall reference view of weak operation [1][5]. - Core Logic: The domestic Shanghai rubber futures market is dominated by supply - demand fundamentals. Currently, Southeast Asian and domestic rubber - producing areas are in the peak tapping season, leading to high supply pressure. The domestic tire industry has reduced inventory, lower operating loads, and受阻 export growth. After the digestion of macro - bullish expectations, bearish fundamentals prevail. On Tuesday night, the 2601 contract of Shanghai rubber futures closed 0.06% lower at 15,965 yuan/ton and is expected to maintain a volatilely weak trend on Wednesday [5]. 3.3 Synthetic Rubber (BR) - Short - term, Medium - term, and Intraday Views: Short - term and medium - term views are volatile, and the intraday view is volatilely weak, with an overall reference view of weak operation [1][7]. - Core Logic: The domestic synthetic rubber futures market is also dominated by supply - demand fundamentals. The domestic synthetic rubber plant load is stable with a slight increase in supply pressure. The domestic tire industry has reduced inventory, lower operating loads, and受阻 export growth. After the digestion of macro - bullish expectations, bearish fundamentals prevail. On Tuesday night, the 2510 contract of synthetic rubber futures closed 0.71% lower at 11,895 yuan/ton and is expected to maintain a volatilely weak trend on Wednesday [7].
宝城期货橡胶早报-20250827
Bao Cheng Qi Huo·2025-08-27 02:59