Report Industry Investment Rating - No information provided Core Viewpoints - The short - term, medium - term, and intraday views of both Shanghai rubber (RU) and synthetic rubber (BR) 2605 contracts are bullish, with an overall view of being bullish in a volatile manner [1][5][7] Summary by Related Catalogs Shanghai Rubber (RU) - **Short - term view**: Bullish in a volatile manner [1] - **Medium - term view**: Volatile [1][5] - **Intraday view**: Bullish in a volatile manner [1][5] - **Core logic**: The US is trying to ease financial market tensions and boost risk appetite. There are ongoing military conflicts between the US and Iran, and the Shanghai rubber futures 2605 contract maintained a bullish - in - volatile trend on Tuesday night, and is expected to continue this trend on Wednesday [5] Synthetic Rubber (BR) - **Short - term view**: Bullish in a volatile manner [1] - **Medium - term view**: Bullish in a volatile manner [1][7] - **Intraday view**: Bullish in a volatile manner [1][7] - **Core logic**: The sharp rise of synthetic rubber futures is driven by the continuous increase in the price of upstream raw material butadiene. Geopolitical disturbances in Northeast Asia and the concentrated reduction of cracking units in Japan and South Korea have tightened the supply of butadiene, and the inventory at East China ports has been decreasing. The strong rise in the raw material end has been directly transmitted to the synthetic rubber futures market. The synthetic rubber futures maintained a bullish - in - volatile trend on Tuesday night and are expected to continue this trend on Wednesday [7]

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Report's Core View - The report predicts that both Shanghai rubber (RU) and synthetic rubber (BR) will show a tendency of oscillating on the stronger side. For Shanghai rubber, it will be in an oscillating state in the medium - term and oscillating on the stronger side in the short - term and intraday. For synthetic rubber, it will be oscillating on the stronger side both in the short - term, medium - term, and intraday [1][5][7]. 3. Summary by Related Catalogs Shanghai Rubber (RU) - **Short - term**: Oscillating on the stronger side [1] - **Medium - term**: Oscillating [1][5] - **Intraday**: Oscillating on the stronger side [1][5] - **Core Logic**: The US is trying to ease the financial market tension and boost risk preference. The military conflicts between the US and Iran over the weekend led to a significant rebound in international crude oil futures. Under the bullish atmosphere, Shanghai rubber futures contract 2605 maintained an oscillating and consolidating trend on the night of last Friday. It is expected to maintain an oscillating and stronger trend on Monday [5]. Synthetic Rubber (BR) - **Short - term**: Oscillating on the stronger side [1][7] - **Medium - term**: Oscillating on the stronger side [1][7] - **Intraday**: Oscillating on the stronger side [1][7] - **Core Logic**: The significant increase in synthetic rubber futures is driven by the continuous rise in the price of upstream raw material butadiene. Geopolitical disturbances in Northeast Asia and the concentrated load reduction of cracking units in Japan and South Korea have tightened the supply of butadiene, and the inventory at East China ports has been continuously decreasing. The strong rise in the raw material end is directly transmitted to the synthetic rubber futures market. After the military conflicts between the US and Iran over the weekend and the rebound of international crude oil futures, the domestic synthetic rubber futures maintained an oscillating and weaker trend on the night of last Friday, and it is expected to maintain an oscillating and stronger trend on Monday [7].

Report Industry Investment Rating No relevant content provided. Core Viewpoints - The short - term, medium - term, and intraday views of Shanghai rubber (RU) 2605 are all "oscillating", with an overall reference view of "oscillating and strengthening". The short - term, medium - term, and intraday views of synthetic rubber (BR) 2605 are all "oscillating and strengthening" [1]. - Due to the escalation of the US - Iran conflict and the rising geopolitical risks in the Middle East, international crude oil futures prices remain strong, which boosts domestic energy and chemical commodity futures prices. The rising crude oil prices drive the increase of synthetic rubber, indirectly boosting the stabilization and rebound of Shanghai rubber futures. It is expected that on Monday, Shanghai rubber and synthetic rubber futures will maintain an oscillating and strengthening trend [5][7]. Summary by Related Catalogs Shanghai Rubber (RU) - **Viewpoints**: Short - term: oscillating; Medium - term: oscillating; Intraday: oscillating and strengthening; Overall reference: oscillating and strengthening [1][5]. - **Core Logic**: The escalation of the US - Iran conflict and the rising geopolitical risks in the Middle East lead to the strong performance of international crude oil futures prices, which boosts domestic energy and chemical commodity futures prices. The rising crude oil prices drive the increase of synthetic rubber, indirectly boosting the stabilization and rebound of Shanghai rubber futures. The Shanghai rubber futures 2605 contract showed an oscillating and strengthening trend in the night session last Friday, and it is expected to maintain this trend on Monday [5]. Synthetic Rubber (BR) - **Viewpoints**: Short - term: oscillating and strengthening; Medium - term: oscillating and strengthening; Intraday: oscillating and strengthening; Overall reference: oscillating and strengthening [1][7]. - **Core Logic**: The escalation of the US - Iran conflict and the rising geopolitical risks in the Middle East lead to the strong performance of international crude oil futures prices, which boosts domestic energy and chemical commodity futures prices. The rising crude oil prices drive the increase of synthetic rubber. The synthetic rubber futures maintained an oscillating upward trend in the night session last Friday, and it is expected to maintain an oscillating and strengthening trend on Monday [7].

1. Report Industry Investment Rating - No information provided in the given content 2. Core Views of the Report - For the Shanghai rubber (RU) 2605 contract, the short - term, medium - term, and intraday views are all "oscillating and slightly stronger", with an overall reference view of "oscillating and slightly stronger" [1][5] - For the synthetic rubber (BR) 2605 contract, the short - term, medium - term, and intraday views are all "oscillating and slightly stronger", with an overall reference view of "oscillating and slightly stronger" [1][7] 3. Summary by Related Catalogs Shanghai Rubber (RU) - **Core Logic**: The recent escalation of the US - Iran conflict has led to a strong pattern in international crude oil futures prices, which boosts domestic energy - chemical commodity futures prices. Although the geopolitical risk is volatile, the new rubber tapping season is coming, increasing the supply expectation. Despite the weakening trend of the Shanghai rubber futures 2605 contract on Wednesday night, it is expected to maintain an oscillating and slightly stronger trend on Thursday due to the strong energy - chemical atmosphere [5] Synthetic Rubber (BR) - **Core Logic**: The escalation of the US - Iran conflict and the attacks on oil and gas facilities in the Middle East have led to a sharp rise in crude oil futures prices, which drove the sharp rise of domestic synthetic rubber futures on Wednesday night. It is expected that domestic synthetic rubber will maintain an oscillating and slightly stronger trend on Thursday [7]

1. Report Industry Investment Rating - There is no information about the report industry investment rating provided in the content. 2. Core Viewpoints of the Report - The report predicts that the Shanghai rubber futures (RU) 2605 contract will maintain a shock - and - slightly - up trend on Tuesday, and the synthetic rubber futures (BR) will also maintain a similar trend [1][5][7]. 3. Summary Based on Related Catalogs 3.1 Shanghai Rubber (RU) - **Short - term, Medium - term, and Intraday Views**: Short - term: shock; Medium - term: shock; Intraday: shock and slightly up; Overall reference view: shock and slightly up [1] - **Core Logic**: The US increased military pressure on Iran, escalating the US - Iran conflict and keeping the international crude oil futures prices strong, which boosts domestic energy - chemical commodity futures prices. With the new tapping season approaching, the supply of natural rubber is expected to increase. Although the RU 2605 contract showed a shock - and - slightly - down trend in the night session on Monday, the decline space is limited [5] 3.2 Synthetic Rubber (BR) - **Short - term, Medium - term, and Intraday Views**: Short - term: shock and slightly up; Medium - term: shock and slightly up; Intraday: shock and slightly up; Overall reference view: shock and slightly up [1] - **Core Logic**: The US - Iran conflict escalated, and the international energy agency members agreed to release 400 million barrels of strategic reserve crude oil, with the US releasing 172 million barrels to suppress the rapid rise of oil prices. The synthetic rubber futures showed a shock - and - slightly - down trend in the night session on Monday. It is expected to maintain a shock - and - slightly - up trend on Tuesday [7]

Report Industry Investment Rating - Not provided in the given content Core Views - For Shanghai rubber (RU) 2605, the short - term, medium - term, and intraday views are all "oscillating and slightly stronger", with a reference view of "oscillating and slightly stronger" [1][5] - For synthetic rubber (BR) 2605, the short - term, medium - term, and intraday views are all "oscillating and slightly stronger", with a reference view of "oscillating and slightly stronger" [1][7] Summary by Related Catalogs Shanghai Rubber (RU) - Core logic: The US increased military pressure on Iran, escalating the US - Iran conflict and increasing Middle East geopolitical risks. International crude oil futures prices remained strong, boosting domestic energy - chemical commodity futures prices. The cost - driven logic of synthetic rubber is still in place, and the discount spread with Shanghai rubber is narrowing, supporting the Shanghai rubber futures price. Although the Shanghai rubber futures 2605 contract showed a slightly weakening trend in the night session on Friday, the retracement space was limited. It is expected to maintain an oscillating and slightly stronger trend on Monday [5] Synthetic Rubber (BR) - Core logic: The US increased military pressure on Iran, escalating the US - Iran conflict and increasing Middle East geopolitical risks. International crude oil futures prices remained strong. The International Energy Agency member countries agreed to release 400 million barrels of strategic reserve crude oil, with the US planning to release 172 million barrels to suppress the rapidly rising oil prices. The cost - driven logic of synthetic rubber is still in place. The domestic synthetic rubber futures showed a strong trend in the night session on Friday. It is expected to maintain a strong trend on Monday [7]

1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints of the Report - The Shanghai rubber futures contract 2605 is expected to maintain a volatile and slightly stronger trend on Friday, while the synthetic rubber is expected to continue its strong performance [1][5][7] 3. Summary by Relevant Catalogs 3.1 Shanghai Rubber (RU) - **Short - term, Medium - term, and Intraday Views**: Short - term: volatile; Medium - term: volatile; Intraday: volatile and slightly stronger; Reference view: volatile and slightly stronger [1] - **Core Logic**: Despite Trump's signal of ending the war with Iran, the conflict between the US - Israel and Iran may not end, and the geopolitical risk in the Middle East remains. International crude oil futures prices are still strong, boosting domestic energy - chemical commodity futures prices. The cost - driven logic of synthetic rubber remains, and the discount spread with Shanghai rubber is narrowing, supporting the Shanghai rubber futures price. The 2605 contract showed a volatile and stable trend on Thursday night [5] 3.2 Synthetic Rubber (BR) - **Short - term, Medium - term, and Intraday Views**: Short - term: volatile and slightly stronger; Medium - term: volatile and slightly stronger; Intraday: strong; Reference view: strong operation [1] - **Core Logic**: Geopolitical risks in the Middle East remain, and international energy commodity futures prices are strong, boosting domestic energy - chemical commodity futures prices. Although the IEA member countries agreed to release 400 million barrels of strategic reserve crude oil (the US will release 172 million barrels), the cost - driven logic of synthetic rubber remains. The synthetic rubber futures showed a strong performance on Thursday night [7]

1. Report Industry Investment Rating - Not provided in the content 2. Core Viewpoints of the Report - For the Shanghai rubber (RU) 2605 contract, the short - term view is "oscillation", the medium - term view is "oscillation", the intraday view is "oscillation and weakening", and the reference view is "oscillation and weakening" [1][5] - For the synthetic rubber (BR) 2605 contract, the short - term view is "oscillation", the medium - term view is "oscillation and strengthening", the intraday view is "oscillation and weakening", and the reference view is "oscillation and weakening" [1][7] 3. Summary by Related Catalogs Shanghai Rubber (RU) - Core logic: After US President Trump signaled that the war against Iran might end soon, the geopolitical risk in the Middle East quickly cooled down, and international crude oil futures prices sharply corrected from high levels, weakening the bullish sentiment in energy - chemical commodities. Rising oil prices led to an increase in inflation expectations, and the global central bank's interest - rate cut cycle might end early and be replaced by an interest - rate hike cycle, strengthening the expectation of tight liquidity. Additionally, a new rubber - tapping period is approaching. Although the Shanghai rubber futures 2605 contract showed a stable oscillation trend during the night session on Tuesday, with a slight increase in the futures price, the rebound momentum was lacking. It is expected that the Shanghai rubber futures may maintain an oscillating and weakening trend on Wednesday [5] Synthetic Rubber (BR) - Core logic: After US President Trump signaled that the war against Iran might end soon, the geopolitical risk in the Middle East quickly cooled down, and international crude oil futures prices sharply corrected from high levels, weakening the bullish sentiment in energy - chemical commodities. Rising oil prices led to an increase in inflation expectations, and the global central bank's interest - rate cut cycle might end early and be replaced by an interest - rate hike cycle, strengthening the expectation of tight liquidity. In the context of the collective weakening of energy - chemical commodities, the domestic synthetic rubber futures 2605 contract showed an oscillating decline during the night session on Tuesday, with a slight decrease in the futures price. It is expected that the domestic synthetic rubber may maintain an oscillating and weakening trend on Wednesday [7]

Report Summary 1. Report Industry Investment Rating - No information provided in the given content 2. Core Views of the Report - The Shanghai rubber futures contract 2605 is expected to run with a bullish bias in the short - term and intraday, and maintain a sideways trend in the medium - term [1][5] - The synthetic rubber futures contract 2605 is expected to run strongly in the short - term, intraday, and medium - term [1][7] 3. Summary by Related Catalogs Shanghai Rubber (RU) - **Short - term**: The short - term view is sideways, and the intraday view is sideways with a bullish bias, with a reference view of bullish operation. The core logic is that due to the geopolitical risks in the Middle East, the prices of crude oil futures at home and abroad have risen significantly, inflation expectations have recovered, the expected liquidity has tightened, and a new rubber - tapping period is approaching. Supported by the bullish atmosphere, the Shanghai rubber futures contract 2605 showed a sideways - bullish trend on the night session of last Friday and is expected to maintain this trend on Monday [1][5] Synthetic Rubber (BR) - **Short - term**: The short - term and intraday views are strong, and the medium - term view is sideways with a bullish bias, with a reference view of strong operation. The core logic is that due to the geopolitical risks in the Middle East, the prices of crude oil futures at home and abroad have risen significantly, the production cost of synthetic rubber has increased. Driven by the transmission logic, the domestic synthetic rubber futures contract 2605 showed a strong operation trend on the night session of last Friday and is expected to maintain a strong operation pattern on Monday [1][7]

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints - Both Shanghai rubber (RU) and synthetic rubber (BR) are expected to maintain a strong stance on February 27, 2026, with a short - term trend of being oscillatory and slightly strong, and a medium - term trend of oscillation [1][5][7]. 3. Summary by Related Catalogs Shanghai Rubber (RU) - **Short - term**: Oscillatory and slightly strong [1] - **Medium - term**: Oscillatory [1] - **Intraday**: Strong [1] - **Reference View**: Strong operation [1] - **Core Logic**: The military conflict between the US and Iran in the Middle East over the weekend led to a sharp rise in geopolitical risks. Iran's blockade of the Strait of Hormuz caused a significant gap - up in crude oil futures prices. The cost factor boosted downstream chemical commodity futures, indirectly driving up the Shanghai rubber futures. The Shanghai rubber futures maintained an oscillatory and slightly strong trend on the night session of Monday, and are expected to run strongly on Tuesday [5]. Synthetic Rubber (BR) - **Short - term**: Oscillatory and slightly strong [1] - **Medium - term**: Oscillatory [1] - **Intraday**: Strong [1] - **Reference View**: Strong operation [1] - **Core Logic**: Due to the same military conflict in the Middle East, the blockade of the Strait of Hormuz and the sharp rise in crude oil futures prices, downstream butadiene and synthetic rubber will be strongly driven upward. The synthetic rubber futures maintained an oscillatory and slightly strong trend on the night session of Monday, and are expected to run strongly on Tuesday [7].