宝城期货橡胶早报-20251107

Report Summary 1. Report Industry Investment Rating - No industry investment rating is provided in the report. 2. Report's Core View - The short - term and intraday views of both Shanghai rubber (RU) 2601 and synthetic rubber (BR) 2601 are weak, and the medium - term view is oscillatory, with an overall outlook of weak operation [1][5][7]. 3. Summary by Related Catalogs Shanghai Rubber (RU) - Price Performance: On Thursday night, the domestic Shanghai rubber futures 2601 contract maintained an oscillatory and stable trend, with the futures price slightly rising 0.57% to 15,035 yuan/ton, but the continued rise was blocked by the 10 - day moving average [5]. - Core Logic: After the meeting between the Chinese and US presidents in Busan, South Korea, the positive progress in economic and trade tariffs was slightly lower than market expectations. As the macro - positive sentiment faded, the driving force of macro factors weakened, and the market saw profit - taking. After the rubber market returned to being dominated by supply - demand fundamentals, the rubber price was under pressure. It is expected that the Shanghai rubber 2601 contract may maintain a weak trend on Friday [5]. Synthetic Rubber (BR) - Price Performance: On Thursday night, the domestic synthetic rubber futures 2601 contract showed an oscillatory and stable trend, with the futures price slightly rising 0.34% to 10,230 yuan/ton, but there was resistance to continued rise [7]. - Core Logic: Similar to Shanghai rubber, after the meeting between the Chinese and US presidents, the positive progress in economic and trade tariffs was slightly lower than market expectations. As the macro - positive sentiment faded, the market shifted from "expectation - driven" to "reality - dominated", and investors' sentiment became cautious. It is expected that the domestic synthetic rubber futures 2601 contract may maintain a weak trend on Friday [7].