Report Industry Investment Rating - The investment rating for the natural rubber industry is neutral [4][9] Report's Core View - The supply of natural rubber is increasing, the spot is strong, domestic inventory is starting to decrease, and tire operating rates are at a high level. The market has support below, and it is advisable to buy on dips [4] Summary by Directory 1. Daily Prompt - Supply of natural rubber is increasing, spot is strong, domestic inventory is decreasing, and tire operating rates are high The market has support below, and it is recommended to buy on dips [4] 2. Fundamental Data - Supply and Demand: Supply is increasing, while downstream consumption is high [4][6] - Spot Price: The spot price of 2023 full latex (non - deliverable) fell on September 19, and the spot price is resistant to decline [8][6] - Inventory: Shanghai Futures Exchange inventory decreased recently, and Qingdao area inventory decreased week - on - week and increased year - on - year [14][4] - Import: Import volume has rebounded [20] - Downstream Consumption: Automobile production and sales are seasonally rising, tire production is at a record high for the same period, and tire industry exports are rebounding [23][29][32] 3. Multi - empty Factors and Main Risk Points - Likely to Rise Factors: High downstream consumption, resistant spot prices, and domestic anti - involution [6] - Likely to Fall Factors: Increasing supply, negative domestic economic indicators, and trade frictions [6] 4. Basis - The spot price is 14,700, and the basis is - 835, showing a bearish signal The basis weakened on September 19 [4][35]
大越期货天胶早报-20250922
Da Yue Qi Huo·2025-09-22 01:39