宝城期货橡胶早报-2025-12-26-20251226

Report Summary 1. Industry Investment Rating No information provided. 2. Core Viewpoints - Both Shanghai rubber (RU) and synthetic rubber (BR) are expected to run strongly in the short - term and intraday, with a mid - term outlook of oscillation [1][5][6]. - Shanghai rubber is likely to maintain an oscillating and strengthening pattern on Friday [5]. - Synthetic rubber is expected to maintain an oscillating and strengthening trend on Friday [6]. 3. Summary by Category Shanghai Rubber (RU) - Short - term: Oscillation [1] - Mid - term: Oscillation [1] - Intraday: Stronger [1] - Reference View: Stronger operation [1] - Core Logic: With domestic Yunnan and Hainan natural rubber producing areas entering the off - season, the supply pressure of domestic full - latex has significantly decreased. The downstream domestic auto production and sales data are optimistic, and the heavy - truck sales data in November are better than expected. The industrial logic is strengthening, and the conflict between Thailand and Cambodia has increased supply - side disturbances, enabling Shanghai rubber to break through the triangular convergence pattern and move upwards [5]. Synthetic Rubber (BR) - Short - term: Oscillation [1] - Mid - term: Oscillation [1] - Intraday: Stronger [1] - Reference View: Stronger operation [1] - Core Logic: The downstream domestic auto production and sales data are optimistic, and the heavy - truck sales data in November are better than expected, but the potential supply pressure is prominent, weakening the market driving force. The rising price of crude oil futures has strengthened the cost support [6].