1. Report Industry Investment Rating - There is no information provided about the industry investment rating in the report. 2. Core Viewpoints of the Report - The domestic Shanghai rubber futures 2509 contract showed a trend of increasing volume, decreasing positions, fluctuating strongly, and slightly rising on Wednesday. It is expected to maintain a fluctuating and stable trend in the future [4]. - The domestic methanol futures 2509 contract showed a trend of increasing volume and positions, fluctuating upwards, and significantly rising on Wednesday. It is expected to maintain a fluctuating and strong pattern in the future [4]. - The domestic crude oil futures 2508 contract showed a trend of increasing volume and positions, maintaining strength, and significantly rising on Wednesday. It is expected that the prices of domestic and foreign crude oil futures will maintain a fluctuating and strong trend in the future [5]. 3. Summary by Relevant Catalogs 3.1 Industry Dynamics Rubber - As of June 15, 2025, the total inventory of natural rubber in bonded and general trade in Qingdao was 606,900 tons, a month - on - month increase of 1,400 tons or 0.23%. The bonded area inventory decreased by 1.87%, and the general trade inventory increased by 0.58% [8]. - As of June 13, 2025, the capacity utilization rate of China's semi - steel tire sample enterprises was 69.98%, a week - on - week increase of 5.93 percentage points and a year - on - year decrease of 10.42 percentage points. The capacity utilization rate of China's full - steel tire sample enterprises was 58.70%, a week - on - week increase of 3.05 percentage points and a year - on - year increase of 5.60 percentage points [8]. - In May 2025, China's automobile dealer inventory warning index was 52.7%, a year - on - year decrease of 5.5 percentage points and a month - on - month decrease of 7.1 percentage points. The inventory warning index was above the boom - bust line, and the prosperity of the automobile circulation industry improved [8]. - In May 2025, China's automobile production and sales were 2.649 million and 2.686 million respectively, a month - on - month increase of 1.1% and 3.7%, and a year - on - year increase of 11.6% and 11.2%. From January to May 2025, China's automobile production and sales were 12.826 million and 12.748 million respectively, a year - on - year increase of 12.7% and 10.9% [9]. - In May 2025, China's heavy - truck market sold about 83,000 vehicles, a month - on - month decrease of 5% and a year - on - year increase of about 6%. From January to May 2025, the cumulative sales of China's heavy - truck market were about 435,500 vehicles, a year - on - year increase of about 1% [9]. Methanol - As of the week of June 13, 2025, the average domestic methanol operating rate was 82.17%, a week - on - week decrease of 1.16%, a month - on - month decrease of 1.51%, and a year - on - year increase of 4.93%. The average weekly methanol output in China was 1.9827 million tons, a week - on - week decrease of 320 tons, a month - on - month decrease of 840 tons, and a significant increase of 241,500 tons compared with the same period last year [10]. - As of the week of June 13, 2025, the domestic formaldehyde operating rate was 29.77%, a week - on - week increase of 0.37%. The dimethyl ether operating rate was 4.34%, a week - on - week decrease of 1.69%. The acetic acid operating rate was 98.81%, a week - on - week increase of 10.99%. The MTBE operating rate was 49.33%, a week - on - week increase of 4.24% [10]. - As of the week of June 13, 2025, the average operating load of domestic coal (methanol) to olefin plants was 80.06%, a week - on - week decrease of 0.91 percentage points and a month - on - month increase of 2.42%. As of June 13, 2025, the futures market profit of domestic methanol to olefin was - 78 yuan/ton, a week - on - week decrease of 211 yuan/ton and a month - on - month decrease of 278 yuan/ton [10]. - As of the week of June 13, 2025, the port methanol inventory in East and South China was 514,000 tons, a week - on - week increase of 55,600 tons, a month - on - month increase of 123,900 tons, and a slight increase of 19,000 tons compared with the same period last year. The inland methanol inventory in China was 379,100 tons, a week - on - week increase of 8,500 tons, a month - on - month increase of 43,200 tons, and a slight decrease of 29,600 tons compared with the same period last year [11][12]. Crude Oil - As of the week of June 6, 2025, the number of active oil drilling rigs in the United States was 442, a week - on - week decrease of 19 and a decrease of 50 compared with the same period last year. The average daily crude oil production in the United States was 13.428 million barrels, a week - on - week increase of 20,000 barrels/day and a year - on - year increase of 228,000 barrels/day [12]. - As of the week of June 6, 2025, the U.S. commercial crude oil inventory (excluding strategic petroleum reserves) was 432 million barrels, a week - on - week decrease of 3.644 million barrels and a significant decrease of 27.237 million barrels compared with the same period last year. The crude oil inventory in Cushing, Oklahoma, decreased by 403,000 barrels week - on - week, and the U.S. Strategic Petroleum Reserve (SPR) inventory increased by 237,000 barrels week - on - week [13]. - The U.S. refinery operating rate was 94.3%, a week - on - week increase of 0.9 percentage points, a month - on - month increase of 4.1 percentage points, and a year - on - year decrease of 0.60 percentage points [13]. - Since June 2025, international crude oil futures prices have shown a fluctuating and stable trend, and the market's bullish power has increased. As of June 10, 2025, the average non - commercial net long positions in WTI crude oil were 191,941 contracts, a week - on - week increase of 23,984 contracts and a significant increase of 13,730 contracts or 7.70% compared with the May average. The average net long positions of Brent crude oil futures funds were 182,440 contracts, a week - on - week increase of 26,921 contracts and a significant increase of 46,905 contracts or 34.41% compared with the May average [14]. 3.2 Spot Price Table | Variety | Spot Price | Price Change Compared to the Previous Day | Futures Main Contract | Price Change Compared to the Previous Day | Basis | Basis Change | | --- | --- | --- | --- | --- | --- | --- | | Shanghai Rubber | 14,000 yuan/ton | +150 yuan/ton | 14,010 yuan/ton | +140 yuan/ton | - 10 yuan/ton | +10 yuan/ton | | Methanol | 2,695 yuan/ton | +40 yuan/ton | 2,517 yuan/ton | +62 yuan/ton | +178 yuan/ton | - 22 yuan/ton | | Crude Oil | 511.0 yuan/barrel | +0.2 yuan/barrel | 552.7 yuan/barrel | +27.8 yuan/barrel | - 41.8 yuan/barrel | - 27.7 yuan/barrel | [16] 3.3 Related Charts - The report provides various charts related to rubber, methanol, and crude oil, including basis, month - to - month spreads, inventory, and net position changes [17][30][43]