宝城期货橡胶早报-20250829

Report Industry Investment Rating - No investment rating is provided in the report. Core Viewpoints - Both Shanghai rubber (RU) and synthetic rubber (BR) are expected to run weakly, with short - term and medium - term trends being oscillatory and the intraday trend being oscillatory and weak [1][5][7]. Summary by Relevant Contents Shanghai Rubber (RU) - Price and Trend: On Thursday night, the 2601 contract of domestic Shanghai rubber futures maintained an oscillatory and weak trend, with the futures price slightly down 0.50% to 15,800 yuan/ton. It is expected to maintain an oscillatory and weak trend on Friday [5]. - Core Logic: The domestic Shanghai rubber futures market is dominated by supply - demand fundamentals. Southeast Asian producing areas are in the peak tapping season, and domestic producing areas are also releasing new rubber output, resulting in high supply pressure. The inventory of the domestic tire industry has declined, the operating load has decreased, and export growth has slowed down. After the digestion of macro - positive expectations, the bearish fundamentals prevail [5]. Synthetic Rubber (BR) - Price and Trend: On Thursday night, the 2510 contract of domestic synthetic rubber futures maintained an oscillatory and weak trend, with the futures price slightly down 0.59% to 11,820 yuan/ton. It is expected to maintain an oscillatory and weak trend on Friday [7]. - Core Logic: The domestic synthetic rubber futures market is dominated by supply - demand fundamentals. 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 growth has slowed down. After the digestion of macro - positive expectations, the bearish fundamentals prevail [7].