宝城期货橡胶早报-20250930

Core Insights - The report indicates a weak outlook for both Shanghai rubber (沪胶) and synthetic rubber (合成胶) due to declining demand driven by a decrease in the operating rate of the domestic tire industry as the National Day holiday approaches [5][6] - The Shanghai rubber futures contract (2601) experienced a slight decline of 0.68% to 15,235 yuan/ton, while the synthetic rubber futures contract (2511) fell by 0.75% to 11,200 yuan/ton [5][6] Summary by Category Shanghai Rubber (沪胶) - Short-term outlook is characterized as "oscillating weak" with a similar mid-term perspective [5] - The core logic suggests that macroeconomic positive expectations are being digested, leading to reduced demand in the rubber market [5] Synthetic Rubber (合成胶) - The short-term and mid-term outlook is also "oscillating weak" [6] - Similar to Shanghai rubber, the decline in demand is attributed to the weakening operating rate in the tire industry and persistent supply-side pressures [6]