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宝城期货橡胶早报-20250901
Bao Cheng Qi Huo·2025-09-01 03:42

Report Overall Summary - The report focuses on the short - term, medium - term, and intraday trends of the Shanghai rubber (RU) and synthetic rubber (BR) futures, providing views and core logic for each [1][5][7]. Report Industry Investment Rating - Not available in the provided content. Report's Core View - In the short - term, medium - term, and intraday, both Shanghai rubber and synthetic rubber are expected to show a weakening trend, with a "weak operation" reference view [1][5][7]. Summary by Related Catalogs Shanghai Rubber (RU) - Trend Outlook: Short - term: oscillating; Medium - term: oscillating; Intraday: oscillating and weakening, with an overall view of weak operation [1][5]. - Core Logic: The market is driven by supply - demand fundamentals. Southeast Asian and domestic rubber - producing areas are in the peak tapping season, leading to high supply pressure. The domestic tire industry has a falling inventory, reduced operating load, blocked exports, and a slowdown in growth. After the digestion of macro - positive expectations, the bearish fundamentals dominate. The 2601 contract of Shanghai rubber futures closed 0.03% lower at 15,825 yuan/ton on the night session of last Friday and is expected to maintain an oscillating and weakening trend on Monday [5]. Synthetic Rubber (BR) - Trend Outlook: Short - term: oscillating; Medium - term: oscillating; Intraday: oscillating and weakening, with an overall view of weak operation [1][7]. - Core Logic: The market is based on supply - demand fundamentals. The operating load of domestic synthetic rubber plants is stable, but supply pressure has slightly increased. The domestic tire industry has a falling inventory, reduced operating load, blocked exports, and a slowdown in growth. After the digestion of macro - positive expectations, the bearish fundamentals dominate. The 2510 contract of synthetic rubber futures closed 0.55% lower at 11,790 yuan/ton on the night session of last Friday and is expected to maintain an oscillating and weakening trend on Monday [7].