橡胶：宽幅震荡20260326

1. Report Industry Investment Rating - No information provided 2. Core View of the Report - The report presents the latest data and trends of the rubber market, showing that the rubber price fluctuates widely, and the inventory and production of the tire industry have certain changes [1][2][3] 3. Summary by Relevant Catalogs 3.1 Fundamental Tracking - Futures Market: The closing price of the rubber main contract (05 contract) increased, with the daily - closing price rising from 16,225 yuan/ton to 16,430 yuan/ton, and the night - closing price rising from 16,315 yuan/ton to 16,410 yuan/ton. The trading volume decreased by 55,550 lots to 243,858 lots, and the open interest decreased by 4,547 lots to 107,227 lots. The net short position of the top 20 members decreased by 2,645 lots to 12,586 lots [1] - Spread Data: The basis of the spot - futures main contract decreased by 5 to - 130, the basis of the mixed - futures main contract decreased by 65 to - 910, and the monthly spread of RU05 - RU09 decreased by 32 to - 45. The prices of foreign - market RSS3, STR20, SMR20, and SIR20 all increased [1] - Substitute Products: The price of Qilu styrene - butadiene rubber remained unchanged at 17,800 yuan/ton, while the price of Qilu cis - butadiene rubber increased by 350 yuan/ton to 17,650 yuan/ton [1] - Spot Market: In the Qingdao market, the import prices of Thai mixed rubber, Thai standard rubber, and African 10 rubber increased, while the prices of Malaysian standard rubber and Malaysian mixed rubber were not provided [1] 3.2 Industry News - As of March 22, 2026, the total inventory of natural rubber in bonded and general trade in Qingdao was 685,600 tons, a month - on - month increase of 0.8 million tons, or 1.18%. The social inventory of natural rubber in China was 1.36 million tons, a month - on - month decrease of 0.4 million tons, or 0.3% [2][3] - Tire enterprises maintained stable production. Most non - price - increasing enterprises had high enthusiasm for production, with sufficient orders before price hikes. Some economic - type specifications were in short supply. The inventory - reduction performance of all - steel tire enterprises was better than that of semi - steel tire enterprises [3] 3.3 Trend Intensity - The trend intensity of rubber is 0, indicating a neutral view [1]