橡胶：震荡偏强合成橡胶：震荡有支撑

Report Industry Investment Ratings - Rubber: Bullish with a slight upward trend [2][4] - Synthetic Rubber: Stable oscillation with support [2][10] - Asphalt: Weak performance, focus on Shandong's shipments [2][14] - LLDPE: Medium - term oscillatory market [2][29] - PP: Short - term oscillation, medium - term downward pressure [2][33] - Caustic Soda: Short - term wide - range oscillation [2][37] - Pulp: Oscillatory operation [2][43] - Glass: Stable prices for raw sheets [2][50] - Methanol: Oscillatory operation [2][53] - Urea: Short - term fluctuations, long - term downward pressure [2][59] - Styrene: Bearish in the medium term [2][62] - Soda Ash: Little change in the spot market [2][64] - LPG: Short - term weak oscillation due to OPEC+ production increase expectations [2][68] - Propylene: Short - term weak operation as spot supply - demand support weakens [2][68] - PVC: Downward pressure in the trend [2][80] - Fuel Oil: Weakness persists, potential for further decline [2][83] - Low - Sulfur Fuel Oil: Continuing to decline, narrowing of the high - low sulfur spread in the overseas spot market [2][83] - Container Freight Index (European Line): Weak oscillation [2][85] - Staple Fiber: Short - term rebound [2][98] - Bottle Chip: Short - term rebound [2][98] - Offset Printing Paper: Low - level oscillation, lack of upward momentum [2][102] - Pure Benzene: Weak oscillation [2][104] Core Views - The natural rubber market was supported by raw materials last week, with prices rising due to supply disruptions from weather and inventory reduction, but the increase was limited by the weakening preference in the commodity market. The import volume in August is expected to increase slightly [8]. - The synthetic rubber market has increasing fundamental pressure from high supply, but there are expectations of a Fed preventive rate cut and policy support, so the futures price oscillates with support [12]. - The asphalt market is in a weak state. The weekly output has increased, the factory inventory in some areas has accumulated, and the social inventory has decreased in some areas [14][28]. - The LLDPE market has a slightly increasing price. The demand is improving due to the upcoming peak season for the agricultural film industry, and the supply pressure may be relieved in the East China region in late September. The market is expected to oscillate in the medium term [29][30]. - The PP market has short - term demand improvement, but the cost is weak. The supply pressure will increase in the future, and the long - term trend is under pressure [33][34]. - The caustic soda market lacks driving forces, with the main obstacles to price increases coming from exports and the alumina industry. The market is in a wide - range oscillation [37][38]. - The pulp market is oscillating. The trading atmosphere is light, and the demand is weak. The price is expected to be affected by the international market and downstream demand [43][46]. - The glass market has stable raw sheet prices, with regional differences in market transactions and limited changes in downstream orders [50][51]. - The methanol market is oscillating. The port inventory is increasing, and the price is affected by supply and demand and macro - economic sentiment [53][56]. - The urea market has short - term fluctuations but a long - term downward trend. The short - term price may rebound due to increased exports, but the long - term demand is weak [59][60][61]. - The styrene market is bearish in the medium term. The cost center has shifted down due to OPEC's production increase, and the price may decline [62][63]. - The soda ash market has little change in the spot market, with stable supply and weak demand [64][66]. - The LPG market is in short - term weak oscillation due to OPEC+ production increase expectations, and the propylene market is also weak in the short term as supply - demand support weakens [68][73]. - The PVC market has high production and inventory, weak downstream demand, and increasing export policy uncertainties, resulting in downward pressure [80]. - The fuel oil market is weak, and the low - sulfur fuel oil is continuing to decline, with a narrowing of the high - low sulfur spread [83]. - The container freight index (European Line) is in weak oscillation. The freight rate is expected to decline in the short term, and the market is affected by supply and demand and geopolitical factors [85][93][95]. - The staple fiber and bottle chip markets are experiencing short - term rebounds, with different trends in futures and spot markets [98]. - The offset printing paper market is in low - level oscillation, with weak upward momentum due to slow demand from downstream printers [102][103]. - The pure benzene market is in weak oscillation, with changes in prices and inventories affected by factors such as crude oil prices [104]. Summaries by Related Catalogs Rubber - The rubber's main contract had price increases in both the day and night sessions, with increased trading volume and open interest. The inventory decreased, and the supply was affected by weather. The demand from tire companies was affected by factory maintenance [5][8][9] Synthetic Rubber - The futures price of synthetic rubber increased, with changes in trading volume, open interest, and basis. The inventory of high - cis polybutadiene rubber increased slightly, and the market was affected by supply, demand, and expectations [10][11][12] Asphalt - The asphalt futures prices declined, with changes in trading volume, open interest, and basis. The production increased, the factory inventory in some areas rose, and the social inventory in some areas decreased [14][28] LLDPE - The LLDPE futures price increased slightly, with stable spot prices. The demand is supported by the agricultural film industry, and the supply pressure may be relieved in late September [29][30] PP - The PP futures price increased, with a slight decline in spot prices. The short - term demand improved, but the cost was weak, and the supply pressure will increase [33][34] Caustic Soda - The caustic soda futures price is related to the spot price in Shandong. The market lacks driving forces, with obstacles from exports and the alumina industry [37][38] Pulp - The pulp's main contract had price changes, with decreased trading volume, open interest, and inventory. The trading atmosphere was light, and the demand was weak [43][46] Glass - The glass futures price increased, with stable or slightly adjusted spot prices. The market transactions had regional differences, and the downstream orders changed little [50][51] Methanol - The methanol futures price increased, with a decline in the port average price. The port inventory increased, and the price was affected by supply and demand and macro - economic sentiment [53][56] Urea - The urea futures price decreased slightly, with stable spot prices in most areas. The enterprise inventory increased slightly, and the short - term price may fluctuate, but the long - term trend is downward [59][60][61] Styrene - The styrene futures price increased, with a weakening market due to OPEC's production increase and a downward shift in the cost center [62][63] Soda Ash - The soda ash futures price increased, with little change in the spot market. The supply was high, and the demand was weak [64][66] LPG and Propylene - The LPG and propylene futures prices had small changes. The LPG market is affected by OPEC+ production increase expectations, and the propylene market's supply - demand support weakened [68][73] PVC - The PVC futures price is related to the spot price in East China. The market has high production and inventory, weak downstream demand, and increasing export policy uncertainties [80] Fuel Oil and Low - Sulfur Fuel Oil - The fuel oil and low - sulfur fuel oil futures prices declined, with changes in trading volume, open interest, and spot prices. The market is weak, and the high - low sulfur spread is narrowing [83] Container Freight Index (European Line) - The container freight index (European Line) futures prices had increases. The freight rate is expected to decline, and the market is affected by supply, demand, and geopolitical factors [85][93][95] Staple Fiber and Bottle Chip - The staple fiber and bottle chip futures prices had different trends, with changes in trading volume, open interest, and spot prices. The short - term rebound is observed [98] Offset Printing Paper - The offset printing paper market has stable prices, with slow demand from downstream printers and a weak upward momentum [102][103] Pure Benzene - The pure benzene futures prices increased, with changes in prices and inventories affected by factors such as crude oil prices [104]