宝城期货橡胶早报-2026-03-05-20260305

Report Summary 1. Report Industry Investment Rating - No information provided in the report. 2. Core Viewpoints - Both Shanghai rubber (RU) and synthetic rubber (BR) are expected to run weakly, with short - term and medium - term trends being oscillatory and the intraday trend being oscillatory and weak [1][5][7]. 3. Summary by Variety Shanghai Rubber (RU) - Short - term: Oscillatory [1] - Medium - term: Oscillatory [1] - Intraday: Oscillatory and weak, with a reference view of weak operation [1][5] - Core Logic: The geopolitical risk in the Middle East has increased due to the US - Iran military conflict. Iran has blocked the Strait of Hormuz, causing a sharp rise in crude oil prices. The inflation expectation has rebounded, and the global central bank's interest - rate cut cycle may end early, leading to a tightening of liquidity. Additionally, a new rubber - tapping period is approaching. Under these bearish factors, the Shanghai rubber futures 2605 contract is expected to maintain an oscillatory and weak trend on Thursday [5]. Synthetic Rubber (BR) - Short - term: Oscillatory [1] - Medium - term: Oscillatory [1] - Intraday: Oscillatory and weak, with a reference view of weak operation [1][7] - Core Logic: The US - Iran military conflict in the Middle East has led to a rise in geopolitical risk and the blockade of the Strait of Hormuz by Iran, causing continuous strength in crude oil prices. The inflation expectation has rebounded, and the global central bank's interest - rate cut cycle may end early, leading to a tightening of liquidity. Against this background, the domestic synthetic rubber futures 2605 contract had limited upward momentum on Wednesday night and is expected to maintain an oscillatory and weak trend on Thursday [7].