橡胶：宽幅震荡20260316

Report Information - Title: Rubber: Wide - Range Fluctuation 20260316 [1] 1. Report Industry Investment Rating - Not provided 2. Report Core View - The rubber market shows wide - range fluctuations, and currently, the trend strength of rubber is 0, indicating a neutral view [1][2] 3. Summary by Related Catalogs 3.1 Fundamental Data - Futures Market: The day - session closing price of the rubber main contract was 16,765 yuan/ton, down 310 from the previous day; the night - session closing price was 16,845 yuan/ton, down 240. The trading volume was 340,904 lots, a decrease of 80,920. The open interest of the 05 contract was 140,305 lots, a decrease of 1,651. The warehouse receipt quantity increased by 300 tons to 120,840 tons, and the net short position of the top 20 members increased by 3,257 lots to 27,149 lots [2] - Spread Data: The basis of "spot - futures main contract" increased by 10 to - 165, and the "mixed - futures main contract" increased by 80 to - 1,215. The month - spread of RU05 - RU09 remained unchanged at 95 [2] - Spot Market: The RSS3 outer - market quote remained at 2,530 dollars/ton. The quotes of STR20, SMR20, and SIR20 decreased by 30 dollars/ton to 2,050, 2,040, and 1,950 dollars/ton respectively. The prices of substitute products, Qilu butadiene styrene and Qilu cis - butadiene, increased by 100 yuan/ton to 16,100 and 15,500 yuan/ton respectively. The prices of imported rubber in the Qingdao market, such as Thai mixed and Thai standard, decreased by 10 dollars/ton, and the price of African 10 decreased by 10 - 15 dollars/ton [2] 3.2 Industry News - As of March 8, 2026, the total inventory of natural rubber in bonded and general trade in Qingdao was 68.04 million tons, a month - on - month increase of 0.05 million tons, an increase of 0.07%. The bonded area inventory increased by 1.27% to 11.96 million tons, and the general trade inventory decreased by 0.18% to 56.09 million tons. The social inventory of natural rubber in China was 138 million tons, a month - on - month decrease of 0.26 million tons, a decrease of 0.2%. The total social inventory of dark - colored rubber decreased by 0.5% to 93.3 million tons, and the total social inventory of light - colored rubber increased by 0.4% to 44.7 million tons [3][4] - Currently, the supply of tire enterprises is relatively stable. Driven by price - increase expectations, the domestic sales of all - steel tire enterprises are active, and the inventory - reduction rhythm has accelerated. The domestic and foreign sales of semi - steel tire enterprises are relatively stable, the overall sales performance is average, and the finished - product inventory - reduction speed shows differences [4]