Investment Rating - The investment rating for the company is "Accumulate" (maintained) [5] Core Views - The company achieved a year-on-year increase of 42% in net profit attributable to shareholders in the first half of 2025, driven by expansion in the Middle East market and deepening layouts in firefighting and marine engineering sectors [5][8] - The company’s revenue for the first half of 2025 was 359 million yuan, representing a year-on-year growth of 24%, with a significant improvement in cash flow [8] - The company is expected to benefit from the growing demand for high-pressure, corrosion-resistant hoses in the oil and gas industry due to deep-sea exploration and shale gas development [8] Financial Performance Summary - In the first half of 2025, the company reported revenue of 359 million yuan (up 24% year-on-year) and a net profit of 52.61 million yuan (up 42% year-on-year) [8] - The company’s revenue from high-pressure large-diameter delivery hoses increased by 36% year-on-year, with overseas market demand driving up gross margins [8] - The company’s projected revenue for 2025 is 736 million yuan, with a year-on-year growth rate of 22.79% [7] - The estimated net profit attributable to shareholders for 2025 is 141 million yuan, with a projected growth rate of 34.25% [9] - The company’s earnings per share (EPS) for 2025 is expected to be 1.07 yuan [9] Market and Strategic Positioning - The company is expanding its global footprint, focusing on emerging markets in South America, the Middle East, and Australia, with subsidiaries established in the UAE, Saudi Arabia, and the USA to enhance overseas delivery response efficiency [8] - The company is also investing in R&D for smart firefighting and marine engineering, with a flexible thermoplastic composite pipe production project in Saudi Arabia expected to enhance competitiveness in the Middle East market [8] - The company’s strategic focus includes emergency rescue, oil and gas extraction, agricultural water conservancy, and mineral development, leveraging product versatility to drive technological innovation and market expansion [8]

1. Report Industry Investment Rating - No relevant content provided 2. Core Views of the Report - Global natural rubber producing areas are in the tapping season. In Yunnan, rainy weather persists, leading to a tight supply of raw materials and firm purchase prices. In Hainan, precipitation disrupts the tapping operations, resulting in limited fresh latex output. Local rubber processing plants face difficulties in raw material procurement [2]. - The total spot inventory at Qingdao ports continues to decline, with bonded warehouses accumulating inventory and general trade warehouses showing further de - stocking. Overseas arrivals are increasing, but tire manufacturers' purchasing enthusiasm has weakened, and most are focused on inventory digestion [2]. - Last week, the domestic tire capacity utilization rate fluctuated slightly. Some semi - steel tire enterprises had maintenance schedules, dragging down the overall capacity utilization rate. The resumption of work at full - steel tire maintenance enterprises drove up the full - steel tire capacity utilization rate. There is still room for a slight increase in capacity utilization as maintenance - affected enterprises resume work, but overall orders are average, and production control by enterprises will continue to limit the increase [2]. - The ru2601 contract is expected to fluctuate in the range of 15,600 - 16,200 in the short term, and the nr2510 contract is expected to fluctuate in the range of 12,600 - 13,000 in the short term [2]. 3. Summary by Related Catalogs 3.1 Futures Market - The closing price of the main Shanghai rubber contract is 15,875 yuan/ton, up 55 yuan; the closing price of the main 20 - number rubber contract is 12,690 yuan/ton, up 40 yuan [2]. - The 9 - 1 spread of Shanghai rubber is - 995 yuan/ton, up 40 yuan; the 9 - 10 spread of 20 - number rubber is - 60 yuan/ton, up 15 yuan [2]. - The spread between Shanghai rubber and 20 - number rubber is 3,185 yuan/ton, up 15 yuan. The trading volume of the main Shanghai rubber contract is 134,968 lots, up 1,513 lots; the trading volume of the main 20 - number rubber contract is 58,095 lots, down 399 lots [2]. - The net position of the top 20 in Shanghai rubber is - 38,237 lots, down 1,112 lots; the net position of the top 20 in 20 - number rubber is - 6,844 lots, up 1,087 lots [2]. - The exchange warehouse receipts of Shanghai rubber are 179,570 tons, down 20 tons; the exchange warehouse receipts of 20 - number rubber are 46,469 tons, unchanged [2]. 3.2 Spot Market - The price of state - owned whole latex in the Shanghai market is 14,850 yuan/ton, down 50 yuan; the price of Thai standard STR20 is 1,805 US dollars/ton, down 50 US dollars; the price of Vietnamese 3L in the Shanghai market is 14,850 yuan/ton, down 50 yuan; the price of Malaysian standard SMR20 is 1,805 US dollars/ton, down 10 US dollars [2]. - The price of Thai RMB mixed rubber is 14,600 yuan/ton, down 50 yuan; the price of Malaysian RMB mixed rubber is 14,550 yuan/ton, down 50 yuan [2]. - The price of Qilu Petrochemical's styrene - butadiene 1502 is 12,200 yuan/ton, unchanged; the price of Qilu Petrochemical's cis - butadiene BR9000 is 11,900 yuan/ton, up 100 yuan [2]. - The basis of Shanghai rubber is - 1,025 yuan/ton, down 105 yuan; the basis of non - standard products of the main Shanghai rubber contract is - 1,220 yuan/ton, up 35 yuan [2]. - The price of 20 - number rubber in the Qingdao market is 12,838 yuan/ton, down 80 yuan; the basis of the main 20 - number rubber contract is 148 yuan/ton, down 120 yuan [2]. 3.3 Upstream Situation - The market reference price of smoked sheets of Thai raw rubber is 61.28 Thai baht/kg, down 1.87 Thai baht; the market reference price of rubber sheets of Thai raw rubber is 59.25 Thai baht/kg, up 0.35 Thai baht [2]. - The market reference price of glue of Thai raw rubber is 54.2 Thai baht/kg, unchanged; the market reference price of cup lump of Thai raw rubber is 49.45 Thai baht/kg, down 0.35 Thai baht [2]. - The theoretical production profit of RSS3 is 215.8 US dollars/ton, up 22.8 US dollars; the theoretical production profit of STR20 is 33.2 US dollars/ton, down 8.8 US dollars [2]. - The monthly import volume of technically specified natural rubber is 12.09 million tons, down 2.73 million tons; the monthly import volume of mixed rubber is 28.08 million tons, up 5.85 million tons [2]. 3.4 Downstream Situation - The weekly operating rate of all - steel tires is 63.09%, up 2.09 percentage points; the weekly operating rate of semi - steel tires is 72.07%, down 2.28 percentage points [2]. - The inventory days of all - steel tires in Shandong at the end of the week is 39.51 days, up 0.14 days; the inventory days of semi - steel tires in Shandong at the end of the week is 46.73 days, up 0.28 days [2]. - The monthly output of all - steel tires is 12.75 million pieces, up 130,000 pieces; the monthly output of semi - steel tires is 56.97 million pieces, up 1.74 million pieces [2]. 3.5 Option Market - The 20 - day historical volatility of the underlying is 21.9%, up 0.09 percentage points; the 40 - day historical volatility of the underlying is 17.4%, down 0.47 percentage points [2]. - The implied volatility of at - the - money call options is 23.34%, up 0.15 percentage points; the implied volatility of at - the - money put options is 23.36%, up 0.17 percentage points [2]. 3.6 Industry News - From August 17 - 23, 2025, rainfall in the main natural rubber producing areas in Southeast Asia decreased compared to the previous period. In the northern hemisphere, the red - marked areas with heavy rainfall are mainly in southern Myanmar and southern Cambodia, and the rainfall in most other areas is low, reducing the impact on tapping. In the southern hemisphere, the red - marked areas are mainly in eastern Malaysia and eastern Indonesia, and the rainfall in most other areas is moderate, also reducing the impact on tapping [2]. - As of August 17, 2025, the total inventory of natural rubber in bonded and general trade in Qingdao is 616,700 tons, down 3,100 tons or 0.50% from the previous period. The bonded area inventory is 76,900 tons, up 2.12%, and the general trade inventory is 539,800 tons, down 0.87% [2]. - As of August 14, the capacity utilization rate of Chinese semi - steel tire sample enterprises is 69.11%, down 0.60 percentage points month - on - month and 10.55 percentage points year - on - year; the capacity utilization rate of Chinese all - steel tire sample enterprises is 62.62%, up 2.56 percentage points month - on - month and 3.69 percentage points year - on - year [2].

| 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 300320 海达股份 | | 3343.04万 | 15.22% | -1241.38万 | -5.65% | -2101.66万 | -9.57% | | 002381 | 双箭股份 | 944.74万 | 17.53% | -676.99万 | -12.56% | -267.75万 | -4.97% | | 301459 | 丰茂股份 | 298.60万 | 2.20% | 155.69万 | 1.15% | -454.29万 | -3.35% | | 002753 | 永东股份 | 265.80万 | 5.21% | 305.11万 | 5.98% | -570.90万 | -11.18% | | 605183 确成股份 | | 117.93万 | 0.76% | 386.17万 | 2.50% | -504.11万 | -3.27% | | 300587 | ...

Report Industry Investment Rating - The rating for RU is cautiously bullish, NR is neutral, and BR is neutral [4][5] Core Viewpoints of the Report - The recent support for natural rubber comes from the macro - environment and upstream cost. With continuous rainfall in Southeast Asian producing areas this week, raw material prices are expected to remain firm, but will fall after the rain stops. The overall supply pressure is small due to low domestic arrivals, but arrivals are expected to increase at the end of August. The downstream tire operating rates are divided, with semi - steel tire operating rates falling and all - steel tire operating rates rising. Attention should be paid to tire manufacturers' stocking willingness before the traditional peak demand season [4] - For BR, the overall supply is expected to increase this week as some upstream devices restart and some undergo short - term maintenance. The downstream tire operating rates are divided, and the weakening of semi - steel tire operating rates has a more obvious impact on BR, resulting in a weak supply - demand pattern. Upstream butadiene prices are expected to remain strong, and the price of surrounding natural rubber also has a certain pulling effect on BR [5] Summary by Relevant Catalogs Market News and Data - Futures: The closing price of the RU main contract was 15,820 yuan/ton, a change of - 85 yuan/ton from the previous day; the NR main contract was 12,650 yuan/ton, a change of - 60 yuan/ton from the previous day [1] - Spot: The price of Yunnan - produced whole latex in the Shanghai market was 14,850 yuan/ton, a change of - 50 yuan/ton from the previous day; the Thai mixed rubber in Qingdao Free Trade Zone was 14,600 yuan/ton, a change of - 50 yuan/ton from the previous day; the Thai 20 - gauge standard rubber in Qingdao Free Trade Zone was 1,805 US dollars/ton, a change of - 10 US dollars/ton from the previous day; the Indonesian 20 - gauge standard rubber in Qingdao Free Trade Zone was 1,755 US dollars/ton, a change of - 5 US dollars/ton from the previous day; the ex - factory price of BR9000 of PetroChina Qilu Petrochemical was 11,900 yuan/ton, a change of + 100 yuan/ton from the previous day; the market price of BR9000 in Zhejiang Chuanhua was 11,700 yuan/ton, a change of + 100 yuan/ton from the previous day [1] Market Information - In July 2025, China's imports of natural and synthetic rubber (including latex) totaled 634,000 tons, a 3.4% increase from the same period in 2024 [2] - In the first seven months of 2025, China's rubber tire exports reached 5.63 million tons, a year - on - year increase of 5.4%; the export value was 99.2 billion yuan, a year - on - year increase of 5.4%. From January to July, the export volume of automobile tires was 4.8 million tons, a year - on - year increase of 4.9%; the export value was 81.9 billion yuan, a year - on - year increase of 4.9% [2] - In the first seven months of 2025, Cote d'Ivoire's rubber exports totaled 908,487 tons, a 14.3% increase from the same period in 2024. In July alone, the export volume increased by 28.3% year - on - year and 28.5% month - on - month [2] - In July 2025, the heavy - truck market sold about 83,000 vehicles, including exports and new - energy models, a nearly 42% increase from 58,300 vehicles in the same period last year [2] - In the first half of 2025, the United States imported a total of 143.43 million tires, a 6.8% year - on - year increase. Among them, passenger car tire imports increased by 3% year - on - year to 84.89 million; truck and bus tire imports increased by 10% year - on - year to 32.32 million; aircraft tire imports decreased by 13% year - on - year to 132,000; motorcycle tire imports increased by 22% year - on - year to 1.88 million; bicycle tire imports increased by 5% year - on - year to 3.15 million [2] Market Analysis Natural Rubber - Spot and spreads: On August 18, 2025, the RU basis was - 970 yuan/ton (+ 35), the spread between the RU main contract and mixed rubber was 1,220 yuan/ton (- 35), the import profit of smoked sheet rubber was - 3,426 yuan/ton (+ 645.59), the NR basis was 224.00 yuan/ton (- 20.00); whole latex was 14,850 yuan/ton (- 50), mixed rubber was 14,600 yuan/ton (- 50), 3L spot was 14,850 yuan/ton (+ 0). The STR20 was quoted at 1,805 US dollars/ton (- 10), the spread between whole latex and 3L was 0 yuan/ton (- 50); the spread between mixed rubber and styrene - butadiene rubber was 2,300 yuan/ton (- 150) [3] - Raw materials: Thai smoked sheet was 61.28 Thai baht/kg (- 1.87), Thai latex was 54.20 Thai baht/kg (+ 0.00), Thai cup lump was 49.45 Thai baht/kg (- 0.35), the difference between Thai latex and cup lump was 4.75 Thai baht/kg (+ 0.35) [3] - Operating rates: The operating rate of all - steel tires was 62.62% (+ 2.56%), and the operating rate of semi - steel tires was 69.11% (- 0.60%) [3] - Inventory: The social inventory of natural rubber was 1,277,859 tons (- 10,990.00), the natural rubber inventory at Qingdao Port was 616,731 tons (- 3,121), the RU futures inventory was 179,930 tons (+ 3,650), and the NR futures inventory was 46,469 tons (+ 4,234) [3] Butadiene Rubber - Spot and spreads: On August 18, 2025, the BR basis was - 100 yuan/ton (+ 215), the ex - factory price of butadiene from Sinopec was 9,400 yuan/ton (+ 0), the quoted price of BR9000 from Qilu Petrochemical was 11,900 yuan/ton (+ 100), the quoted price of BR9000 from Zhejiang Chuanhua was 11,700 yuan/ton (+ 100), the price of private butadiene rubber in Shandong was 11,600 yuan/ton (+ 100), and the import profit of butadiene rubber in Northeast Asia was - 1,091 yuan/ton (+ 56) [3] - Operating rates: The operating rate of high - cis butadiene rubber was 64.52% (- 3.65%) [4] - Inventory: The inventory of butadiene rubber traders was 6,990 tons (- 300), and the inventory of butadiene rubber enterprises was 23,450 tons (- 700) [4]

1. Report Industry Investment Ratings No industry - wide investment ratings are provided in the report. 2. Core Views - The second - round China - US trade talks extended the tariff exemption clause, and the Politburo meeting's policy tone was consistent with the previous one. The TMT sector rose strongly, and the stock index increased with heavy trading volume. However, the improvement in corporate earnings needs to be verified by the upcoming mid - year report data [2]. - Multiple negative factors such as the central bank's mention of "preventing idle funds from circulating" in the second - quarter monetary policy report, the strong performance of the stock market, and the tightening of funds during the tax payment period led to a significant decline in bond futures. The bond market sentiment remains weak [2]. - The meeting of US, Ukrainian, and European leaders brought hope for easing the Russia - Ukraine conflict, which increased risk appetite and caused precious metals to rise and then fall. Gold and silver prices are in a range - bound state [2]. - The container shipping index (European line) is in a weak and volatile state, and the short position of the October contract should be continued to hold [2]. - Steel prices are supported due to limited inventory accumulation in steel mills and upcoming production restrictions. Iron ore follows the price fluctuations of steel, while some coal prices are showing signs of weakness [2]. - The prices of non - ferrous metals such as copper, aluminum, and zinc are in a narrow - range or weak - range fluctuation, and different trading strategies are recommended for each metal [2]. - The energy and chemical sectors show different trends. Some products are in a range - bound state, while others are facing supply - demand pressures and are recommended for short - selling or other strategies [2]. - In the agricultural products sector, different products have different trends, such as the upward trend of palm oil and the weakening trend of corn [2]. - Special commodities like glass are in a weak state, and new energy products such as polysilicon and lithium carbonate need to pay attention to policy and supply - related factors [2]. 3. Summary by Relevant Catalogs Financial - **Stock Index**: The stock index rose with heavy volume, but the improvement in earnings needs mid - year report data verification. It is recommended to sell put options on MO2509 with an exercise price around 6600 at high prices and have a moderately bullish view [2]. - **Treasury Bonds**: Multiple negative factors led to a decline in bond futures. The bond market is in an unfavorable situation, and it is recommended to stay on the sidelines in the short term [2]. - **Precious Metals**: Gold is recommended to build a bullish spread strategy through call options at the low - price stage after price corrections. Silver is recommended to maintain a low - buying strategy or build a bullish spread strategy with options [2]. Black - **Steel**: Steel prices are supported due to limited inventory accumulation in steel mills and upcoming production restrictions. The 10 - month contracts of hot - rolled coils and rebar should pay attention to the support levels of 3400 yuan and 3200 yuan respectively [2]. - **Iron Ore**: The shipping volume increased, and the port inventory and port clearance improved. It follows the price fluctuations of steel, and it is recommended to short at high prices [2]. - **Coking Coal**: After the exchange's intervention, the futures price peaked and declined, and some coal prices weakened. It is recommended to short at high prices [2]. - **Coke**: The sixth - round price increase of mainstream coking plants has been implemented, and the seventh - round price increase is in progress. It is recommended to short at high prices [2]. Non - ferrous - **Copper**: The main contract fluctuates within the range of 78000 - 79500 yuan [2]. - **Aluminum Oxide**: The main contract fluctuates within the range of 3000 - 3300 yuan [2]. - **Aluminum**: The price fluctuated downward due to the additional tariff on aluminum. The main contract should pay attention to the pressure level of 21000 yuan and fluctuates within the range of 20000 - 21000 yuan [2]. - **Zinc**: The main contract fluctuates within the range of 22000 - 23000 yuan [2]. - **Tin**: It is recommended to wait and see, paying attention to the import situation of Burmese tin ore [2]. - **Nickel**: The main contract fluctuates within the range of 118000 - 126000 yuan [2]. - **Stainless Steel**: The main contract fluctuates in a narrow range, with cost support but demand drag, and fluctuates within the range of 12800 - 13500 yuan [2]. Energy and Chemical - **Crude Oil**: The short - term geopolitical risk is the main factor. It is recommended to stay on the sidelines for single - side trading and expand the spread between the October - November/December contracts. The support levels for WTI, Brent, and SC are given [2]. - **Urea**: The Indian tender news has a certain boost to the market. If there are no more positive factors after the price rebound, it is recommended to short at high prices [2]. - **PX**: The supply - demand pressure is not significant, and the demand is expected to improve. It is recommended to go long at the lower end of the 6600 - 6900 range and expand the PX - SC spread at a low level [2]. - **PTA**: The processing fee is low, and the cost support is limited. It is recommended to go long at the lower end of the 4600 - 4800 range and conduct a reverse spread operation on TA1 - 5 at high prices [2]. - **Short - fiber**: The supply - demand situation is expected to improve, but there is no obvious short - term driver. It is recommended to try to go long at the lower end of the 6300 - 6500 range [2]. - **Bottle - grade PET**: The production reduction effect is obvious, and the inventory is slowly decreasing. It is recommended to go long on the processing fee at a low price [2]. - **Ethanol**: The supply of MEG is gradually returning, and it is expected to follow the fluctuations of commodities. It is in the range of 4300 - 4500 yuan [2]. - **Caustic Soda**: The main downstream buyers are purchasing well, and the spot price is stable. It is recommended to wait and see [2]. - **PVC**: The supply - demand pressure is still high, and it is recommended to take a short - selling approach [2]. - **Benzene**: The supply - demand expectation has improved, but the driving force is limited due to high inventory. It follows the fluctuations of oil prices and styrene [2]. - **Styrene**: The supply - demand situation has marginally improved, but the cost support is limited. It is recommended to short on rebounds within the 7200 - 7400 range [2]. - **Synthetic Rubber**: The cost is in a range - bound state, and the supply - demand is loose. It is recommended to hold the seller position of the short - term put option BR2509 - P - 11400 [2]. - **LLDPE**: The basis remains stable, and the trading volume is acceptable. It is in a short - term volatile state [2]. - **PP**: The spot price has little change, and the trading volume has weakened. It is recommended to take profit on the short position in the 7200 - 7300 range [2]. - **Methanol**: The inventory is continuously tightening, and the price is weakening. It is recommended to conduct range - bound operations within 2350 - 2550 [2]. Agricultural Products - **Soybeans and Related Products**: The cost support is strong, and a long - term bullish expectation remains. It is recommended to arrange long positions for the January contract [2]. - **Pigs**: The spot price is in a low - level volatile state, and attention should be paid to the rhythm of production release [2]. - **Corn**: The supply pressure is emerging, and the futures price is in a weak state. It is recommended to short at high prices [2]. - **Palm Oil**: The Malaysian palm oil price is rising, and the domestic palm oil price is following the upward trend. It is expected to reach the 10000 - yuan mark in the short term [2]. - **Sugar**: The overseas supply outlook is loose. It is recommended to reduce the short position established at the previous high price [2]. - **Cotton**: The downstream market is weak. It is recommended to reduce the short position [2]. - **Eggs**: The spot price is weak. It is bearish in the long - term [2]. - **Apples**: The sales are slow. Attention should be paid to the price trend of early - maturing apples. The main contract is around 8250 [2]. - **Jujubes**: The price is stable. It is recommended to be cautious when chasing high prices and focus on short - term trading [2]. - **Soda Ash**: The supply is at a high level, and the fundamentals are weakening. It is recommended to try short - selling at high prices [2]. Special Commodities - **Glass**: The industry is in a negative feedback cycle, and the futures price is weak. It is recommended to hold the short position [2]. - **Rubber**: Attention should be paid to the raw material price increase during the peak production period [2]. - **Industrial Silicon**: Attention should be paid to the change in production capacity [2]. New Energy - **Polysilicon**: Attention should be paid to the change in policy expectations [2]. - **Lithium Carbonate**: The supply is subject to continuous disturbances, and the fundamentals are marginally improving. It is recommended to be cautious and try to go long with a light position at a low price [2].

Group 1: Rubber Industry Report Industry Investment Rating Not mentioned Core View The current rubber market lacks clear directional guidance, with long and short factors intertwined, and prices mainly fluctuate within a range. The 01 contract range is expected to be between 15,000 - 16,500 yuan/ton. Follow-up attention should be paid to the raw material supply during the peak production season in the main producing areas. If the raw material supply goes smoothly, consider shorting at high prices [1]. Summary by Directory - **Spot Price and Basis**: On August 18, the price of Yunnan state - owned whole latex in Shanghai increased by 150 yuan/ton to 14,900 yuan/ton, with a growth rate of 1.02%. The whole milk basis (switched to the 2509 contract) increased by 235 to - 920, with a growth rate of 20.35%. The price of Thai standard mixed rubber decreased by 50 yuan/ton to 14,600 yuan/ton, with a decline rate of 0.34% [1]. - **Monthly Spread**: The 9 - 1 spread increased by 25 to - 1035, with a growth rate of 2.36%; the 1 - 5 spread decreased by 15 to - 80, with a decline rate of 18.75%; the 5 - 9 spread decreased by 10 to 1130, with a decline rate of 0.88% [1]. - **Fundamentals**: In June, Thailand's rubber production increased by 120,400 tons to 392,600 tons, with a growth rate of 44.23%; Indonesia's production decreased by 24,100 tons to 176,200 tons, with a decline rate of 12.03%; India's production increased by 14,700 tons to 62,400 tons, with a growth rate of 30.82%; China's production increased by 6,800 tons to 103,200 tons. The weekly开工率 of semi - steel tires decreased by 2.28 to 72.07%, and that of all - steel tires increased by 2.09 to 63.09%. In June, domestic tire production decreased by 100% to 0, and tire export volume increased by 6340,000 to 66,650,000, with a growth rate of 10.51%. The total import volume of natural rubber increased by 10,000 tons to 463,400 tons, with a growth rate of 2.21% [1]. - **Inventory Change**: As of August 18, the bonded area inventory decreased by 11,918 to 619,852, with a decline rate of 1.89%. The factory warehouse futures inventory of natural rubber on the SHFE increased by 4,234 to 46,469, with a growth rate of 10.02% [1]. Group 2: Industrial Silicon Industry Report Industry Investment Rating Not mentioned Core View Last week, the price of industrial silicon fluctuated strongly. It is recommended to try to go long at low prices. The main price fluctuation range is expected to be between 8,000 - 9,500 yuan/ton. If the price drops to the low level of 8,000 - 8,500 yuan/ton, consider going long at low prices. The main contract has shifted to SI2511 [3]. Summary by Directory - **Spot Price and Main Contract Basis**: On August 18, the price of East China oxygen - passing S15530 industrial silicon remained unchanged at 9,400 yuan/ton. The basis (based on oxygen - passing SI5530) increased by 200 to 795, with a growth rate of 33.61% [3]. - **Monthly Spread**: The 2509 - 2510 spread decreased by 5 to - 20, with a decline rate of 33.33%; the 2510 - 2511 spread increased by 5 to - 5, with a growth rate of 50.00%; the 2511 - 2512 spread remained unchanged at - 365; the 2512 - 2601 spread increased by 25 to 20, with a growth rate of 500.00%; the 2601 - 2602 spread decreased by 45 to - 30, with a decline rate of 300.00% [3]. - **Fundamentals**: In the monthly data, the national industrial silicon production increased by 10,600 tons to 338,300 tons, with a growth rate of 3.23%. Xinjiang's production decreased by 27,000 tons to 150,300 tons, with a decline rate of 15.21%. Yunnan's production increased by 24,900 tons to 41,200 tons, with a growth rate of 153.86%. Sichuan's production increased by 11,500 tons to 48,500 tons, with a growth rate of 31.05%. The national开工率 increased by 1.27 to 52.61%, with a growth rate of 2.47%. Xinjiang's开工率 decreased by 11.71 to 52.59%, with a decline rate of 18.21%. Yunnan's开工率 increased by 18.82 to 32.89%, with a growth rate of 133.76%. Sichuan's开工率 increased by 13.39 to 36.96%, with a growth rate of 56.81%. The production of silicone DMC decreased by 9,500 tons to 199,800 tons, with a decline rate of 4.54%. The production of polysilicon increased by 4,900 tons to 101,000 tons, with a growth rate of 5.10%. The production of recycled aluminum alloy increased by 1,000 tons to 625,000 tons, with a growth rate of 1.63%. The export volume of industrial silicon increased by 12,700 tons to 68,300 tons, with a growth rate of 22.77% [3]. - **Inventory Change**: The Xinjiang factory warehouse inventory increased by 0.01 to 11.70 tons, with a growth rate of 0.09%. The Yunnan factory warehouse inventory increased by 0.08 to 3.14 tons, with a growth rate of 2.61%. The Sichuan factory warehouse inventory decreased by 0.02 to 2.26 tons, with a decline rate of 0.88%. The social inventory decreased by 0.20 to 54.50 tons, with a decline rate of 0.37%. The order inventory increased by 0.06 to 25.36 tons, with a growth rate of 0.22%. The non - warehouse receipt inventory decreased by 0.26 to 29.15 tons, with a decline rate of 0.87% [3]. Group 3: Polysilicon Industry Report Industry Investment Rating Not mentioned Core View Last week, the polysilicon price fluctuated strongly. It is expected to mainly fluctuate at a high level, with the lower limit of the price fluctuation range rising to 47,000 yuan/ton and the upper limit between 58,000 - 60,000 yuan/ton. Consider going long at low prices and try shorting by buying put options at high prices when the volatility is low [4]. Summary by Directory - **Spot Price and Basis**: On August 18, the average price of N - type re -投料 remained unchanged at 47,000 yuan/ton. The N - type material basis (average price) increased by 460 to - 5280, with a growth rate of 8.01% [4]. - **Futures Price and Monthly Spread**: The main contract price decreased by 460 to 52,280 yuan/ton, with a decline rate of 0.87%. The spread between the current month and the first - continuous contract increased by 50 to - 135, with a growth rate of 27.03%. The spread between the first - continuous and the second - continuous contract increased by 30 to 75, with a growth rate of 66.67% [4]. - **Fundamentals**: In the weekly data, the silicon wafer production increased by 0.08 to 12.10 GM, with a growth rate of 0.67%. The polysilicon production decreased by 0.01 to 2.93 tons, with a decline rate of 0.34%. In the monthly data, the polysilicon production increased by 0.49 to 10.10 tons, with a growth rate of 5.10%. The polysilicon import volume decreased by 0.02 to 0.08 tons, with a decline rate of 16.90%. The polysilicon export volume increased by 0.08 to 0.21 tons, with a growth rate of 66.17%. The net export volume of polysilicon increased by 0.10 to 0.13 tons, with a growth rate of 323.61%. The silicon wafer production decreased by 6.09 to 52.75 GM, with a decline rate of 10.35%. The silicon wafer import volume decreased by 0.01 to 0.07 tons, with a decline rate of 15.29%. The silicon wafer export volume decreased by 0.08 to 0.55 tons, with a decline rate of 12.97%. The net export volume of silicon wafer decreased by 0.07 to 0.48 tons, with a decline rate of 12.59%. The silicon wafer demand increased by 0.12 to 58.54 GM, with a growth rate of 0.21% [4]. - **Inventory Change**: The polysilicon inventory increased by 0.90 to 24.20 tons, with a growth rate of 3.86%. The silicon wafer inventory increased by 0.69 to 19.80 GM, with a growth rate of 3.61%. The polysilicon warehouse receipt increased by 220 to 5,820 hands, with a growth rate of 3.93% [4]. Group 4: Glass and Soda Ash Industry Report Industry Investment Rating Not mentioned Core View - **Soda Ash**: The soda ash market has obvious over - supply. The inventory is in a re - accumulation pattern. It is recommended to try shorting at high prices. Follow - up attention should be paid to the implementation of policies and the load adjustment of soda ash plants [5]. - **Glass**: The near - month 09 contract of glass is weak, and the far - month 01 contract fluctuates. The overall spot price is difficult to increase further. The glass industry needs capacity clearance to solve the over - supply problem. Follow - up attention should be paid to the implementation of regional policies and the inventory preparation of downstream enterprises [5]. Summary by Directory - **Glass - related Price and Spread**: On August 18, the price of glass 2505 decreased by 7 to 1309 yuan/ton, with a decline rate of 0.53%. The price of glass 2509 decreased by 7 to 1046 yuan/ton, with a decline rate of 0.66%. The 05 basis increased by 7 to - 159, with a growth rate of 4.22% [5]. - **Soda Ash - related Price and Spread**: The price of soda ash 2505 decreased by 2 to 1450 yuan/ton, with a decline rate of 0.14%. The price of soda ash 2509 decreased by 1 to 1293 yuan/ton, with a decline rate of 0.07%. The 05 basis increased by 2 to - 100, with a growth rate of 1.96% [5]. - **Supply**: The soda ash production rate increased by 2.24% to 87.32%. The weekly production of soda ash increased by 1.7 tons to 76.13 tons, with a growth rate of 2.23%. The float glass daily melting volume remained unchanged at 159,600 tons. The photovoltaic daily melting volume remained unchanged at 89,290 tons [5]. - **Inventory**: The glass inventory increased by 157.9 to 6342.60 tons, with a growth rate of 2.55%. The soda ash factory warehouse inventory increased by 2.9 tons to 189.38 tons, with a growth rate of 1.54%. The soda ash delivery warehouse inventory increased by 1.7 tons to 46.66 tons, with a growth rate of 3.85%. The glass factory's soda ash inventory days remained unchanged at 23.4 days [5]. - **Real Estate Data**: The year - on - year growth rate of the newly - started area increased by 0.09% to - 0.09%. The growth rate of the construction area decreased by 2.43% to 0.05%. The growth rate of the completed area decreased by 0.03% to - 0.22%. The growth rate of the sales area decreased by 6.50% to - 6.55% [5]. Group 5: Log Industry Report Industry Investment Rating Not mentioned Core View Last week, the log futures price showed a weak correction. It is recommended to go long at low prices. Pay attention to the support level around 800 yuan/ton [6]. Summary by Directory - **Futures and Spot Price**: On August 18, the 2509 log contract closed at 811 yuan/cubic meter, down 4 yuan/cubic meter from the previous day. The spot price of the main benchmark delivery products remained unchanged. The price of 3.9 - meter medium A radiata pine in Shandong was 750 yuan/cubic meter, and the price of 4 - meter medium A radiata pine in Jiangsu was 780 yuan/cubic meter. The new round of FOB price remained unchanged at 116 US dollars/JAS cubic meter [6]. - **Cost**: The RMB - US dollar exchange rate remained unchanged at 7.182. The import theoretical cost decreased by 0.04 to 818.62 yuan [6]. - **Port Shipment and Departure**: In July, the port shipment volume decreased by 2.7 to 173.3 million cubic meters, with a decline rate of 1.51%. The number of departure ships from New Zealand to China, Japan, and South Korea decreased by 6 to 47, with a decline rate of 11.32% [6]. - **Inventory**: As of August 15, the national coniferous log total inventory was 3.06 million cubic meters, a decrease of 20,000 cubic meters compared with August 8, with a decline rate of 0.65%. The inventory in Shandong decreased by 72,000 cubic meters to 1.854 million cubic meters, with a decline rate of 3.74%. The inventory in Jiangsu increased by 55,100 cubic meters to 983,000 cubic meters, with a growth rate of 5.95% [6]. - **Demand**: As of August 15, the national log daily average shipment volume was 63,300 cubic meters, a decrease of 900 cubic meters compared with August 8, with a decline rate of 1%. The shipment volume in Shandong decreased by 500 cubic meters to 35,900 cubic meters, with a decline rate of 1%. The shipment volume in Jiangsu increased by 600 cubic meters to 23,200 cubic meters, with a growth rate of 3% [6].

1. Report Industry Investment Rating No relevant content provided. 2. Core Views of the Report - The current fundamental market of crude oil is healthy. With low inventories in Cushing, combined with hurricane expectations and Russia - related events, crude oil has upward momentum. However, the seasonal demand weakness in mid - August will limit its upside. A short - term target price of $70.4/barrel for WTI is given, suggesting short - term long positions on dips and stop - profit, and left - side ambush for Russian geopolitical expectations in September and the hurricane supply - disruption season when oil prices slump sharply [2]. - For methanol, coal prices are rising, increasing methanol costs, but coal - to - methanol profits are still at a high level year - on - year. Domestic and overseas production capacity is increasing, leading to high supply pressure. Traditional demand has low profits, and olefin demand is weak. It is recommended to wait and see as the current situation is weak but may improve in the peak season [4]. - Regarding urea, domestic production has started to increase, and although enterprise profits are low, they are expected to bottom out. Supply is relatively loose. Domestic agricultural demand is ending, and overall demand is average. The price range is narrowing, and it is advisable to focus on long - position opportunities on dips [6]. - For rubber, it is expected to oscillate in the short term. A neutral approach is recommended, and partial closing of the long RU2601 and short RU2509 position is suggested [10]. - For PVC, the overall situation is supply - strong and demand - weak with high valuations. The cost of calcium carbide has declined, and the fundamentals are poor. It is recommended to wait and see [10]. - In the case of styrene, the market macro - sentiment is good, and there is still cost support. The BZN spread has room for upward repair, and port inventories are decreasing. The price may follow the cost to oscillate upward [12][13]. - For polyethylene, the market is expecting favorable policies from the Chinese Ministry of Finance in the third quarter, and there is cost support. But inventory pressure and seasonal factors exist. It is recommended to hold short positions [15]. - For polypropylene, Shandong refinery profits have stopped falling and rebounded, and the cost may dominate the market. It is expected to follow crude oil to oscillate stronger [16]. - For PX, the load is high, and downstream PTA has many short - term maintenance. However, due to new PTA installations, PX is expected to continue inventory reduction. There is support for valuation, but the upside is limited in the short term. It is recommended to follow crude oil to go long on dips [18][19]. - For PTA, supply may continue to increase inventory, and the processing fee has limited room. Demand is slightly improving, and it is recommended to follow PX to go long on dips when the peak - season demand improves [20]. - For ethylene glycol, the supply load is decreasing, and downstream load is increasing. Port inventories are decreasing, but the industry is expected to enter an inventory - accumulation cycle. Valuation is relatively high, and there is downward pressure on short - term valuation [21]. 3. Summary by Related Catalogs Crude Oil - **Market Quotes**: WTI main crude oil futures rose $0.14, or 0.22%, to $63.28; Brent main crude oil futures rose $0.33, or 0.50%, to $66.46; INE main crude oil futures fell 3.70 yuan, or 0.76%, to 482.6 yuan [1]. - **Data**: China's weekly crude oil data shows that crude oil arrival inventory increased by 1.37 million barrels to 207.19 million barrels, a 0.67% increase. Gasoline commercial inventory decreased by 1.81 million barrels to 90.14 million barrels, a 1.97% decrease. Diesel commercial inventory decreased by 0.96 million barrels to 104.59 million barrels, a 0.91% decrease. Total refined oil commercial inventory decreased by 2.77 million barrels to 194.74 million barrels, a 1.40% decrease [1]. Methanol - **Market Quotes**: On August 18, the 01 - contract fell 16 yuan/ton to 2396 yuan/ton, and the spot price fell 23 yuan/ton, with a basis of - 94 [4]. - **Fundamentals**: Coal prices are rising, increasing methanol costs, but coal - to - methanol profits are still high year - on - year. Domestic and overseas production capacity is increasing, leading to high supply pressure. Traditional demand has low profits, and olefin demand is weak [4]. Urea - **Market Quotes**: On August 18, the 01 - contract rose 17 yuan/ton to 1754 yuan/ton, and the spot price rose 30 yuan/ton, with a basis of - 24 [6]. - **Fundamentals**: Domestic production has started to increase, and although enterprise profits are low, they are expected to bottom out. Supply is relatively loose. Domestic agricultural demand is ending, and overall demand is average [6]. Rubber - **Market Quotes**: NR and RU oscillated and consolidated [8]. - **Data**: As of August 14, 2025, the operating load of all - steel tires of Shandong tire enterprises was 63.07%, up 2.09 percentage points from last week and 7.42 percentage points from the same period last year. The operating load of semi - steel tires of domestic tire enterprises was 72.25%, down 2.28 percentage points from last week and 6.41 percentage points from the same period last year. As of August 10, 2025, China's natural rubber social inventory was 127.8 tons, a 0.85% decrease. The total inventory of dark - colored rubber was 79.7 tons, a 0.8% decrease, and the total inventory of light - colored rubber was 48 tons, a 0.8% decrease. RU inventory increased by 1%. As of August 17, 2025, the inventory of natural rubber in Qingdao was 48.54 (- 0.18) tons [9]. - **Analysis of Long and Short Views**: Bulls believe that weather and rubber - forest conditions in Southeast Asia, especially Thailand, may lead to production cuts, the seasonal trend turns upward in the second half of the year, and China's demand is expected to improve. Bears think that macro expectations are uncertain, demand is in the seasonal off - season, and the production - cut amplitude may be lower than expected [12]. PVC - **Market Quotes**: The PVC01 contract fell 43 yuan to 5054 yuan, the spot price of Changzhou SG - 5 was 4800 (- 50) yuan/ton, the basis was - 254 yuan/ton, and the 9 - 1 spread was - 134 (+9) yuan/ton [10]. - **Fundamentals**: The cost of calcium carbide has decreased, the overall operating rate of PVC is 80.3%, up 0.9%. The downstream operating rate is 42.8%, down 0.1%. Factory inventory is 32.7 tons (- 1), and social inventory is 81.2 tons (+3.5). The enterprise's comprehensive profit is at a high level of the year, with high valuation pressure, low maintenance volume, high production, and weak downstream demand. The Indian anti - dumping policy affects exports [10]. Styrene - **Market Quotes**: Spot and futures prices fell, and the basis weakened [12]. - **Analysis**: The market macro - sentiment is good, and there is still cost support. The BZN spread is at a low level in the same period, with large upward - repair space. The supply of pure benzene is still abundant, and the production of styrene is increasing. Port inventories are decreasing significantly. The short - term BZN may be repaired, and the price may follow the cost to oscillate upward [12][13]. Polyethylene - **Market Quotes**: Futures prices fell [15]. - **Analysis**: The market is expecting favorable policies from the Chinese Ministry of Finance in the third quarter, and there is cost support. Inventory pressure from traders is high, and demand is in the seasonal off - season. In August, there is a large production - capacity release plan. It is recommended to hold short positions [15]. Polypropylene - **Market Quotes**: Futures prices fell [16]. - **Analysis**: Shandong refinery profits have stopped falling and rebounded, and the supply of propylene is expected to increase. The downstream operating rate is seasonally oscillating downward. In August, there is a planned production - capacity release of 45 tons. In the context of weak supply and demand, the cost may dominate the market, and it is expected to follow crude oil to oscillate stronger [16]. PX - **Market Quotes**: The PX11 contract rose 72 yuan to 6760 yuan, PX CFR rose 6 dollars to 833 dollars, the basis was 88 yuan (- 27), and the 11 - 1 spread was 36 yuan (+30) [18]. - **Fundamentals**: China's PX load is 84.3%, up 2.3%, and Asia's load is 74.1%, up 0.5%. Some devices have restarted or reduced load. PTA load is 76.4%, up 1.7%. In early August, South Korea's PX exports to China were 11.2 tons, down 0.5 tons year - on - year. Inventories decreased in June. PXN is 255 dollars (+2), and naphtha crack spread is 88 dollars (+7). PX is expected to continue inventory reduction, and there is support for valuation, but the upside is limited in the short term [18][19]. PTA - **Market Quotes**: The PTA01 contract rose 30 yuan to 4746 yuan, the East China spot price rose 10 yuan to 4670 yuan, the basis was - 12 yuan (+1), and the 9 - 1 spread was - 50 yuan (- 10) [20]. - **Fundamentals**: PTA load is 76.4%, up 1.7%. Some devices have stopped or restarted. The downstream load is 89.4%, up 0.6%. Terminal loads are increasing. Social inventory (excluding credit warehouse receipts) on August 8 was 227.3 tons, up 3.3 tons. The spot processing fee fell 19 yuan to 178 yuan, and the futures processing fee rose 2 yuan to 335 yuan. Supply may continue to increase inventory, and the processing fee has limited room. Demand is slightly improving [20]. Ethylene Glycol - **Market Quotes**: The EG09 contract fell 23 yuan to 4346 yuan, the East China spot price fell 21 yuan to 4441 yuan, the basis was 92 yuan (+4), and the 9 - 1 spread was - 46 yuan (- 3) [21]. - **Fundamentals**: The supply load is 66.4%, down 2%. Some devices have restarted or reduced load. The downstream load is 89.4%, up 0.6%. Import arrival forecast is 14.1 tons, and port inventory is 54.7 tons, down 0.6 tons. The cost of ethylene is flat, and the price of coal has risen. The industry is expected to enter an inventory - accumulation cycle, and the valuation is relatively high, with downward pressure on short - term valuation [21].

投资咨询业务资格：证监许可【2011】1778 号 投资咨询业务资格：证监许可【2011】1778 号 11615 2025 年 8 月 18 日 橡胶甲醇原油 专业研究·创造价值 偏空因素压制 能化震荡偏弱 核心观点 宝城期货金融研究所 姓名：陈栋 橡胶：本周一国内沪胶期货 2601 合约呈现缩量减仓，震荡偏强， 略微收涨的走势，盘中期价重心略微上移至 15820 元/吨一线运行。收 盘时期价略微收涨 0.25%至 15820 元/吨。9-1 月差贴水幅度升阔至 1035 元/吨。受需求因子偏强支撑，预计后市国内沪胶期货 2601 合约 或维持震荡偏强的走势。 宝城期货投资咨询部 甲醇：本周一国内甲醇期货 2601 合约呈现缩量增仓，弱势下行， 小幅收低的走势，期价最高上涨至 2420 元/吨一线，最低下探至 2385 元/吨，收盘时小幅收低 1.40%至 2396 元/吨。9-1 月差贴水幅度升阔 至 103 元/吨。受国内煤炭期货价格大幅回落拖累，叠加甲醇偏弱的供 需基本面。在偏空氛围压制下，预计后市国内甲醇期货 2601 合约或维 持偏弱格局运行。 作者声明 予的期货从业资格证书，期货 投资咨询资格证 ...

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints - The short - term forecast for the ru2601 contract is to fluctuate between 15,600 - 16,200, and for the nr2510 contract, it is expected to fluctuate between 12,600 - 13,000. As maintenance - affected enterprises resume operations, there is still a small upward space for production capacity utilization, but the current overall order performance is average, and enterprises' production control will continue, which will limit the increase in overall production capacity utilization [2]. 3. Summary by Relevant Catalogs Futures Market - The closing price of the Shanghai rubber main contract is 15,820 yuan/ton, down 85 yuan; the 9 - 1 spread is - 1,035 yuan/ton, up 25 yuan. The closing price of the 20 - number rubber main contract is 12,650 yuan/ton, down 60 yuan; the 9 - 10 spread is - 75 yuan/ton, down 5 yuan. The spread between Shanghai rubber and 20 - number rubber is 3,170 yuan/ton, down 25 yuan [2]. - The position of the Shanghai rubber main contract is 133,455 lots, down 1,052 lots; the position of the 20 - number rubber main contract is 58,494 lots, up 710 lots. The net position of the top 20 in Shanghai rubber is - 37,125 lots, down 1,030 lots; the net position of the top 20 in 20 - number rubber is - 7,931 lots, down 477 lots [2]. - The warehouse receipts of Shanghai rubber in the exchange are 179,590 tons, down 340 tons; the warehouse receipts of 20 - number rubber in the exchange are 46,469 tons, unchanged [2]. Spot Market - The price of state - owned whole latex in the Shanghai market is 14,900 yuan/ton; the price of Vietnamese 3L in the Shanghai market is 14,800 yuan/ton. The price of Thai standard STR20 is 1,815 US dollars/ton, up 20 US dollars; the price of Malaysian standard SMR20 is 1,815 US dollars/ton, up 100 US dollars [2]. - The price of Thai RMB mixed rubber is 14,650 yuan/ton, up 230 yuan; the price of Malaysian RMB mixed rubber is 14,600 yuan/ton, up 230 yuan. The price of Qilu Petrochemical's styrene - butadiene 1502 is 12,200 yuan/ton, unchanged; the price of Qilu Petrochemical's cis - butadiene BR9000 is 11,800 yuan/ton, unchanged [2]. - The basis of Shanghai rubber is - 920 yuan/ton, up 235 yuan; the basis of non - standard products of the Shanghai rubber main contract is - 1,255 yuan/ton, down 40 yuan. The price of 20 - number rubber in the Qingdao market is 12,918 yuan/ton, up 184 yuan; the basis of the 20 - number rubber main contract is 268 yuan/ton, up 244 yuan [2]. Upstream Situation - The market reference price of Thai raw rubber (smoked sheet) is 63.15 Thai baht/kg, up 0.65 Thai baht; the market reference price of Thai raw rubber (film) is 59.25 Thai baht/kg, up 0.35 Thai baht. The market reference price of Thai raw rubber (glue) is 54.2 Thai baht/kg, unchanged; the market reference price of Thai raw rubber (cup rubber) is 49.8 Thai baht/kg, unchanged [2]. - The theoretical production profit of RSS3 is 215.8 US dollars/ton, up 22.8 US dollars; the theoretical production profit of STR20 is 33.2 US dollars/ton, down 8.8 US dollars [2]. - The monthly import volume of technically classified natural rubber is 120,900 tons, down 27,300 tons; the monthly import volume of mixed rubber is 280,800 tons, up 58,500 tons [2]. Downstream Situation - The weekly operating rate of all - steel tires is 63.09%, up 2.09 percentage points; the weekly operating rate of semi - steel tires is 72.07%, down 2.28 percentage points [2]. - The inventory days of all - steel tires in Shandong at the end of the period is 39.51 days, up 0.14 days; the inventory days of semi - steel tires in Shandong at the end of the period is 46.73 days, up 0.28 days [2]. - The monthly output of all - steel tires is 12.75 million pieces, up 130,000 pieces; the monthly output of semi - steel tires is 56.97 million pieces, up 1.74 million pieces [2]. Option Market - The 20 - day historical volatility of the underlying is 21.81%, up 0.57 percentage points; the 40 - day historical volatility of the underlying is 17.88%, up 0.23 percentage points [2]. - The implied volatility of at - the - money call options is 23.19%, up 0.73 percentage points; the implied volatility of at - the - money put options is 23.19%, up 0.74 percentage points [2]. Industry News - From August 17th to August 23rd, 2025, the rainfall in the main natural rubber producing areas in Southeast Asia decreased compared with the previous period. The red areas north of the equator are mainly in southern Myanmar and southern Cambodia, with low precipitation in most other areas, reducing the impact on tapping. The red areas south of the equator are mainly in eastern Malaysia and eastern Indonesia, and most other areas have medium rainfall, also reducing the impact on tapping [2]. - As of August 17, 2025, the total inventory of natural rubber in bonded and general trade in Qingdao was 616,700 tons, a decrease of 3,100 tons from the previous period, a decline of 0.50%. The bonded area inventory was 76,900 tons, an increase of 2.12%; the general trade inventory was 539,800 tons, a decrease of 0.87%. The inbound rate of bonded warehouses in Qingdao increased by 2.46 percentage points, and the outbound rate increased by 0.64 percentage points; the inbound rate of general trade warehouses increased by 1.12 percentage points, and the outbound rate decreased by 0.11 percentage points [2]. - As of August 14, the capacity utilization rate of Chinese semi - steel tire sample enterprises was 69.11%, a decrease of 0.60 percentage points from the previous period and a decrease of 10.55 percentage points year - on - year; the capacity utilization rate of Chinese all - steel tire sample enterprises was 62.62%, an increase of 2.56 percentage points from the previous period and an increase of 3.69 percentage points year - on - year [2].

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 603033 | 三维股份 | 12.42 | -1.51% | 10.67万 | 1.33 乙 | | 001207 | 联科科技 | 26.15 | -0.57% | 4.86万 | 1.27亿 | | 002442 | 龙星科技 | 6.38 | -0.47% | 12.52万 | 8015.43万 | | 002753 | 永东股份 | 7.18 | -0.28% | 7.51万 | 5403.42万 | | 603650 | 彤程新材 | 35.08 | -0.11% | 16.57万 | 5.83亿 | | 002381 | 双箭股份 | 7.07 | 0.14% | 6.05万 | 4275.57万 | | 002068 | 黑猫股份 | 11.83 | 0.60% | 32.11万 | 3.75亿 | | 301300 | 远翔新材 | 42.19 | 0.60% | 2.09万 | 8768.90万 | | 301459 | 丰茂 ...