Group 1: Report Industry Investment Rating - No relevant content Group 2: Core Viewpoints of the Report - The short - term view of SHFE rubber (RU) 2605 is volatile, the medium - term view is volatile, the intraday view is volatile and weak, and the reference view is volatile and weak. The short - term view of synthetic rubber (BR) 2605 is volatile and strong, the medium - term view is volatile and strong, the intraday view is volatile and weak, and the reference view is volatile and weak [1]. - Due to the reduction of geopolitical risks in the Middle East, the sharp decline of international crude oil futures prices, and the weakening of the bullish atmosphere of energy - chemical commodities, along with inflation expectations and the possible end of the global central bank interest - rate cut cycle, the liquidity tightening expectation is strengthened. Coupled with the approaching of a new rubber - tapping period, it is expected that SHFE rubber and synthetic rubber will maintain a volatile and weak trend on Tuesday [5][7]. Group 3: Summary by Relevant Catalogs SHFE Rubber (RU) - **Viewpoints**: Short - term: volatile; Medium - term: volatile; Intraday: volatile and weak; Reference: volatile and weak [1]. - **Core Logic**: After Trump's statement on the possible end of the war with Iran, the geopolitical risks in the Middle East cooled rapidly, the international crude oil prices dropped significantly, weakening the bullish atmosphere of energy - chemical commodities. Rising oil prices led to inflation expectations and a possible end of the global central bank interest - rate cut cycle, strengthening the expectation of liquidity tightening. With a new rubber - tapping period approaching, the SHFE rubber 2605 contract showed a volatile and weak trend on Monday night and is expected to maintain this trend on Tuesday [5]. Synthetic Rubber (BR) - **Viewpoints**: Short - term: volatile and strong; Medium - term: volatile and strong; Intraday: volatile and weak; Reference: volatile and weak [1]. - **Core Logic**: Similar to SHFE rubber, due to the reduction of geopolitical risks in the Middle East, the sharp decline of international crude oil prices, and the weakening of the bullish atmosphere of energy - chemical commodities, along with inflation expectations and the possible end of the global central bank interest - rate cut cycle, the liquidity tightening expectation is strengthened. The synthetic rubber 2605 contract showed a high - level correction on Monday night and is expected to maintain a volatile and weak trend on Tuesday [7].

Report Industry Investment Rating - Not provided Core Viewpoints - Both Shanghai rubber and synthetic rubber are expected to run weakly, with a short - term and medium - term outlook of oscillation and an intraday view of oscillation on the weak side [1][5][7] Summary by Relevant Catalogs Shanghai Rubber (RU) - **Short - term, Medium - term, and Intraday Views**: Short - term and medium - term views are oscillation, while the intraday view is oscillation on the weak side. The reference view is weak operation [1][5] - **Core Logic**: Due to the military conflict between the US and Iran in the Middle East, geopolitical risks have risen rapidly. Iran has blocked the Strait of Hormuz, causing a sharp increase in crude oil futures prices. Rising oil prices have led to an increase in inflation expectations, a possible end to the global central bank's interest - rate cut cycle, and an expectation of tighter liquidity. Additionally, a new rubber - tapping period is approaching. These negative factors have caused the Shanghai rubber futures 2605 contract to show a weakly oscillating trend on Thursday night, and it is expected to maintain this trend on Friday [5] Synthetic Rubber (BR) - **Short - term, Medium - term, and Intraday Views**: Short - term and medium - term views are oscillation, while the intraday view is oscillation on the weak side. The reference view is weak operation [1][7] - **Core Logic**: The military conflict in the Middle East has led to a continuous rise in crude oil prices. Rising oil prices have increased inflation expectations, a possible end to the global central bank's interest - rate cut cycle, and an expectation of tighter liquidity. Against this background, the domestic synthetic rubber futures 2605 contract showed limited upward momentum on Thursday night, and it is expected to maintain a weakly oscillating trend on Friday [7]

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].