橡胶：回落做多

Group 1: Report Overview - Report on natural rubber futures strategy from September 15th to September 19th [1] - Analyst: Jin Zebin, Research Variety: Natural Rubber, Qualification Certificate Number: F3048432 [1] Group 2: Investment Rating - Not mentioned Group 3: Core View - This week, the market declined, but the fundamental outlook remains bullish. The report maintains a bullish view and suggests investors buy on dips near previous lows [2][8] Group 4: Futures and Spot Market Review Futures Market - RU2601 opened at 15,860, reached a high of 16,105, a low of 15,450, and closed at 15,535, down 1.8% [3] - NR2511 opened at 12,600, reached a high of 12,755, a low of 12,190, and closed at 12,300, down 2.03% [3] - BR2511 opened at 11,620, reached a high of 11,725, a low of 11,355, and closed at 11,445, down 1.08% [3] Spot Market - Shanghai Yunnan 2023 state - owned whole latex with 9% tax was quoted at 14,700 yuan/ton, down 250 yuan/ton from last week [4] - Qingdao Free Trade Zone smoked sheet rubber was quoted at 2,170 US dollars/ton, down 10 US dollars/ton from last week [4] - Shanghai BR9000 was quoted at 11,775 yuan/ton, down 250 yuan/ton from last week [4] Group 5: Inventory and Market Structure Inventory - This week, the total inventory of the Shanghai Futures Exchange increased by 4,876 tons to 196,824 tons, and the futures inventory increased by 3,180 tons to 154,920 tons [5] Market Structure - The basis strengthened this week due to a larger decline in futures prices [6] Group 6: Forecast and Operation Strategy - The market decline this week was mainly due to macro factors such as the sharp drop in the domestic stock market and the impact of the Fed's interest - rate decision on bullish sentiment, as well as technical breakdown triggering bearish sentiment [7] - The prices of Thai raw materials showed mixed trends this week. The prices of smoked sheets and cup rubber declined, while the price of latex increased [7] - The operating rate of tire enterprises continued to recover, and the inventories of semi - steel and all - steel tires remained unchanged [7]