宝城期货橡胶早报-20251105

Report Summary 1. Report Industry Investment Rating - No investment rating information is provided in the report. 2. Report's Core View - For both Shanghai rubber (RU) 2601 and synthetic rubber (BR) 2601, the short - term view is "shock", the medium - term and intraday views are "shock and weak", and the reference view is "weak operation". The weak supply - demand situation dominates, leading to a weak and volatile trend for both [1][5][7]. 3. Summary by Related Categories Shanghai Rubber (RU) - Price and Performance: On Tuesday night, the domestic Shanghai rubber futures 2601 contract maintained a shock - weak trend, with the futures price slightly down 0.77% to 14,845 yuan/ton. It is expected to maintain a shock - weak trend on Wednesday [5]. - Driving Logic: After the meeting between the Chinese and US presidents in Busan, South Korea, although there were positive developments in economic and trade tariffs, the overall results were slightly lower than market expectations. As the macro - long sentiment faded, the driving force of macro factors weakened, and the market saw profit - taking. The rubber market has returned to being dominated by supply - demand fundamentals, putting pressure on rubber prices [5]. Synthetic Rubber (BR) - Price and Performance: On Tuesday night, the domestic synthetic rubber futures 2601 contract showed a shock - weak trend, with the futures price slightly down 0.83% to 10,095 yuan/ton. It is expected to maintain a shock - weak trend on Wednesday [7]. - Driving Logic: Similar to Shanghai rubber, after the meeting between the Chinese and US presidents, the positive results in economic and trade tariffs were slightly lower than expectations. As the macro - long sentiment faded, the driving force of macro factors weakened, and the market entered a "reality - dominated" stage, with investors becoming more cautious [7].