Report Industry Investment Rating - The investment rating for the natural rubber industry is neutral [4][9] Core Viewpoint - The supply of natural rubber is increasing, the spot is relatively strong, domestic inventories are starting to decrease, and the tire operating rate is at a high level. The market has support below, and short - long trading is recommended [4] Summary by Directory Daily Prompt - The fundamental situation of natural rubber is that supply is increasing, spot is strong, domestic inventories are decreasing, and tire operating rate is high, with a neutral outlook. The basis is - 930 with the spot price at 15050, showing a bearish signal. Exchange inventories and Qingdao area inventories have recent small changes. The import volume is rising. Automobile production and sales are seasonally falling, tire production is at a record high for the same period but falling month - on - month, and tire industry exports are rising. The basis weakened on September 10th [4][14][17][20][23][26][29][32][35] Fundamental Data - Supply: Supply is increasing [4][6] - Spot Price: The spot price of 2023 full - latex (non - deliverable) fell on September 10th. The US dollar - quoted price in Qingdao Free Trade Zone is also involved [8][11] - Inventory: Exchange inventories and Qingdao area inventories have recent small changes. The exchange inventory decreased week - on - week and year - on - year, while the Qingdao area inventory decreased week - on - week but increased year - on - year [4][14][17] - Downstream Consumption: Automobile production and sales are seasonally falling, tire production is at a record high for the same period but falling month - on - month, and tire industry exports are rising [23][26][29][32] Basis - The basis on September 10th was - 930 with the spot price at 15050, and it weakened on September 10th [4][35] Multi - Empty Factors - Likely to Rise Factors: High downstream consumption, resistant spot prices, and domestic anti - involution [6] - Likely to Fall Factors: Increasing supply and bearish domestic economic indicators [6]
天胶早报-20250911
Da Yue Qi Huo·2025-09-11 02:18