Report Industry Investment Rating - Not provided Core Viewpoints - The supply of natural rubber is increasing, foreign spot prices are strong, domestic inventories are rising, and tire operating rates are at a high level. The market is mainly driven by sentiment, and short - term trading is recommended [4]. Summary by Directory 1. Daily Prompt - The supply of natural rubber is increasing, foreign spot is strong, domestic inventory is starting to increase, and tire operating rate is at a high level. The overall situation is neutral. The spot price is 13750 with a basis of - 140, which is bearish. The inventory of the Shanghai Futures Exchange decreased week - on - week and year - on - year, while the inventory in Qingdao increased week - on - week and decreased year - on - year, showing a neutral situation. The price is below the 20 - day line and the 20 - day line is downward, which is bearish. The main position is net short with a reduction in short positions, also bearish. The market is sentiment - driven and short - term trading is recommended [4]. 2. Fundamental Data - **Supply and Demand**: Supply is increasing, and downstream consumption is at a high level. The domestic economy is gradually recovering, and raw material prices are strong [4][6]. - **Inventory**: The inventory of the exchange and in Qingdao has changed little recently. The inventory of the Shanghai Futures Exchange decreased week - on - week and year - on - year, while the Qingdao inventory increased week - on - week and decreased year - on - year [4][14][17]. - **Spot Price**: The spot price of 2023 full - latex (non - deliverable) decreased on June 11. The US dollar quotation in Qingdao Free Trade Zone is also provided [8]. - **Import**: Import volume has a seasonal decline [20]. - **Downstream Consumption**: Automobile production and sales have a seasonal decline, tire production is at a record high for the same period, and tire industry exports have declined [23][26][29][32]. - **Basis**: The basis became a futures premium on June 11 [35]. 3. Multi - Empty Factors and Main Risk Points - **Likely to Rise**: The domestic economy is gradually recovering, downstream consumption is at a high level, and raw material prices are strong [6]. - **Likely to Fall**: Supply is increasing, market inventory is rising, and the external environment is bearish [6].