橡胶：宽幅震荡20260317

1. Report's Industry Investment Rating - No relevant information provided 2. Core View of the Report - The natural rubber market supply side still has strong support as overseas is in the low - production period with rising raw material procurement prices, and although Yunnan in China is gradually starting to harvest, the new rubber output is small [4] - The production of most all - steel tire enterprises remains stable, with some increasing daily production to fill previous order gaps. The implementation of price increases by enterprises varies, adjusted flexibly according to profit levels and order situations [4] 3. Summary by Related Catalog 3.1 Fundamental Data - Futures Market: The daily closing price of the rubber main contract was 16,870 yuan/ton, up 105 yuan from the previous day; the night - closing price was 16,780 yuan/ton, down 65 yuan. The trading volume was 278,101 lots, a decrease of 62,803 lots. The open interest of the 05 contract was 134,869 lots, a decrease of 5,436 lots. The warehouse receipt quantity was 120,800 tons, a decrease of 40 tons. The net short position of the top 20 members was 23,929 lots, a decrease of 3,220 lots [2] - Spread Data: The basis of spot - futures main contract was - 170 yuan/ton, down 5 yuan; the basis of mixed - futures main contract was - 1,220 yuan/ton, down 5 yuan. The monthly spread of RU05 - RU09 was 85 yuan/ton, down 10 yuan [2] - Spot Market: The RSS3 outer - market quote was 2,530 US dollars/ton, unchanged; the STR20 was 2,050 US dollars/ton, unchanged; the SMR20 was 2,040 US dollars/ton, unchanged; the SIR20 was 1,955 US dollars/ton, up 5 US dollars. The price of Qilu styrene - butadiene rubber was 16,000 yuan/ton, down 100 yuan; the Qilu cis - butadiene rubber was 15,500 yuan/ton, unchanged. The price of Thai standard rubber in Qingdao market decreased by 30 US dollars/ton, and the African 10 decreased by 30 - 35 US dollars/ton [2] 3.2 Industry News - As of March 15, 2026, the total inventory of natural rubber in bonded and general trade in Qingdao was 67.76 million tons, a decrease of 0.28 million tons or 0.42% from the previous period. The bonded area inventory increased by 1.43% to 12.13 million tons, and the general trade inventory decreased by 0.81% to 55.63 million tons. The inbound and outbound rates of bonded warehouses and general trade warehouses in Qingdao increased [3][4]