宝城期货橡胶早报-20250911

Report Summary 1. Report Industry Investment Rating - No information provided in the given content. 2. Report's Core View - The report predicts that both the Shanghai rubber futures 2601 contract and the synthetic rubber futures 2511 contract will maintain a stable and fluctuating trend on Thursday, with a slightly upward bias [1][5][7]. 3. Summary by Related Catalogs Shanghai Rubber (RU) - Short - term, Medium - term, and Intraday Views: Short - term: fluctuating; Medium - term: fluctuating; Intraday: fluctuating with a slight upward bias; Overall view: upward - trending [1][5]. - Core Logic: Benefiting from the easing of Sino - US economic and trade relations and the increasing expectation of the Fed's interest rate cut, the macro - factors have improved. Although the Southeast Asian rubber - producing areas are in the peak tapping season, the actual supply output has decreased slightly year - on - year, and the supply pressure is lower than expected. The domestic auto market's production and sales are better than expected, the tire industry remains prosperous, the export growth rate has rebounded, and the external sales are optimistic. On Wednesday night, the 2601 contract of domestic Shanghai rubber futures maintained a stable and fluctuating trend, with the futures price rising slightly by 0.16% to 15,980 yuan/ton [5]. Synthetic Rubber (BR) - Short - term, Medium - term, and Intraday Views: Short - term: fluctuating; Medium - term: fluctuating; Intraday: fluctuating with a slight upward bias; Overall view: upward - trending [1][7]. - Core Logic: With the increasing expectation of the Fed's interest rate cut, the macro - sentiment has improved. The downstream tire industry remains highly prosperous, the external sales of tires are good, and the domestic terminal auto market has strong production and sales, better than expected. Supported by the stable and fluctuating prices of domestic and international crude oil futures recently, there are differences between long and short positions in the synthetic rubber futures market. On Wednesday night, the 2511 contract of domestic synthetic rubber futures maintained a stable and fluctuating trend, with the futures price rising slightly by 0.13% to 11,720 yuan/ton [7].