Group 1: Report Investment Rating - No information provided Group 2: Core Viewpoints - The market continued to rise this week, maintaining an upward trend. Fundamental factors are mostly positive, supporting prices. It is advisable to buy on dips [2]. - The market is expected to maintain a bullish outlook, and it is recommended to adopt a long - position strategy and buy on price retracements [7]. Group 3: Summary by Directory 1. Futures Market Review - The RU2601 contract had an opening price of 15,885, a high of 16,370, a low of 15,720, and a closing price of 16,325, with a gain of 2.93%. The NR2511 contract had an opening price of 12,755, a high of 13,205, a low of 12,605, and a closing price of 13,135, with a gain of 3.22%. The BR2510 contract had an opening price of 11,920, a high of 12,255, a low of 11,685, and a closing price of 12,210, with a gain of 2.61%. The market continued to rise, breaking through the upper limit of the recent range and approaching the previous high, showing a good bullish pattern [3]. 2. Spot Market Review - The quoted price of Shanghai Yunnan 2023 state - owned full - latex rubber with 9% tax was 15,150 yuan/ton, up 250 yuan/ton from last week. The quoted price of smoked sheet rubber in Qingdao Free Trade Zone was 2,220 US dollars/ton, unchanged from last week. The quoted price of BR9000 in Shanghai was 12,025 yuan/ton, unchanged from last week [4]. 3. Inventory Review - This week, the inventory on the Shanghai Futures Exchange decreased. The subtotal inventory decreased by 7,027 tons to 205,360 tons, and the futures inventory decreased by 16,410 tons to 162,230 tons [5]. 4. Market Structure - The basis weakened this week because the futures price increased more [6]. 5. Forecast and Operation Strategy - The market continued to rise this week, approaching the previous high. The prices of Thai raw materials showed mixed trends this week, with smoked sheet prices falling and cup lump and latex prices rising. The operating rates of tire enterprises all declined, and the inventories of semi - steel and all - steel tires decreased. The natural rubber price broke through the upper limit of the previous oscillation range, driven by external market stimuli. The weak US economic data increased the probability of interest rate cuts, and the market priced in inflation, driving up the overall bulk commodities. It is advisable to maintain a bullish view and buy on dips [7].
橡胶策略周报：回落做多-20250908
Da Yue Qi Huo·2025-09-08 02:58