Report Summary 1. Report Industry Investment Rating - No information provided on the industry investment rating [1][5][7] 2. Report's Core View - Both Shanghai rubber (RU) and synthetic rubber (BR) are expected to run strongly in the short - term, with an intraday view of oscillating strongly and a medium - term view of oscillation [1][5][7] 3. Summary by Related Catalog Shanghai Rubber (RU) - **Price and Performance**: On Thursday night, the domestic Shanghai rubber futures 2509 contract maintained an oscillating and strongly - trending pattern, with the futures price slightly rising 0.39% to 14,110 yuan/ton. It is expected to maintain this pattern on Friday [5] - **Core Logic**: Domestic high - level meetings have set the tone for a new round of supply - side reform, which boosts domestic commodity futures. The supply side is in the peak tapping season with strong incremental expectations and high monthly output pressure. The downstream demand is weak, with the tire production and sales growth slowing down and the terminal demand entering the off - season [5] Synthetic Rubber (BR) - **Price and Performance**: On Thursday night, the domestic synthetic rubber futures 2508 contract showed an oscillating and strongly - trending pattern, with the futures price slightly rising 0.18% to 11,290 yuan/ton. It is expected to maintain this pattern on Friday [7] - **Core Logic**: Domestic high - level meetings have set the tone for a new round of supply - side reform, which boosts domestic commodity futures. The operating loads of some private cis - butadiene rubber plants in East and South China have increased slightly, driving up the production and capacity utilization rate of high - cis cis - butadiene rubber last week. The downstream demand is weak, with the tire production and sales growth slowing down and the terminal demand entering the off - season [7]

Report Industry Investment Rating - No relevant content provided Core View of the Report - Both Shanghai rubber and synthetic rubber are expected to run weakly in the short - term, mid - term, and intraday, with a focus on their weak supply - demand structures [1][5][7] Summary by Related Catalogs Shanghai Rubber (RU) - **Short - term, Mid - term, and Intraday Views**: Short - term:震荡; Mid - term:震荡; Intraday:震荡偏弱; Overall reference view:偏弱运行 [1][5] - **Core Logic**: As geopolitical factors weaken, the marginal positive effect of common factors for energy and chemical commodity futures decreases, and the negative factors of the weak supply - demand structure in the rubber market re - dominate. Supply is in the peak tapping season with strong incremental expectations and high monthly output pressure. Downstream demand is weak, tire production and sales growth has slowed, and terminal demand has entered the off - season. Although the 2509 contract of domestic Shanghai rubber futures maintained a stable oscillating trend on Tuesday night, rising 0.36% to 14025 yuan/ton, it lacks upward space. It is expected to maintain a weakly oscillating trend on Wednesday [5] Synthetic Rubber (BR) - **Short - term, Mid - term, and Intraday Views**: Short - term:震荡; Mid - term:震荡; Intraday:震荡偏弱; Overall reference view:偏弱运行 [1][7] - **Core Logic**: As geopolitical factors weaken, the marginal positive effect of common factors for energy and chemical commodity futures decreases, and the negative factors of the weak supply - demand structure in the synthetic rubber market re - dominate. The operating loads of some private cis - 1,4 - polybutadiene rubber plants in East and South China have slightly increased, driving up last week's production and capacity utilization rate. Downstream demand is weak, tire production and sales growth has slowed, and terminal demand has entered the off - season. In the context of a weak supply - demand structure, the 2508 contract of domestic synthetic rubber futures showed a weakly oscillating trend on Tuesday night, falling 0.89% to 11120 yuan/ton. It is expected to maintain a weakly oscillating trend on Wednesday [7]

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - 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 weakly oscillatory [1][5][7] 3. Summary by Related Catalogs Shanghai Rubber (RU) - **Market Trends**: The 2509 contract of Shanghai rubber futures showed a weakly oscillatory trend in the night session on Tuesday, with the futures price slightly down 0.07% to 13765 yuan/ton, and is expected to maintain this trend on Wednesday [5] - **Core Logic**: As geopolitical factors weaken, the common positive effects on energy and chemical commodity futures decline, and the negative factors of the weak supply - demand structure in the rubber market re - dominate. Currently, the supply side is in the peak tapping season with strong incremental expectations and high monthly output pressure. Meanwhile, downstream demand is weak, tire production and sales growth has slowed down, and terminal demand has entered the off - season [5] Synthetic Rubber (BR) - **Market Trends**: The 2508 contract of synthetic rubber futures showed a weakly oscillatory trend in the night session on Tuesday, with the futures price down 1.12% to 11065 yuan/ton, and is expected to maintain this trend on Wednesday [7] - **Core Logic**: Due to comments from former US President Trump indicating the end of the conflict between Iran and Israel, and subsequent news of an official cease - fire, the trading of geopolitical logic in the market weakened. The sharp correction of domestic and international crude oil futures prices dragged down the synthetic rubber futures [7]

Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Report's Core View - Both Shanghai rubber and synthetic rubber are expected to run weakly in the short - term, mid - term, and intraday, with a weakening bullish atmosphere leading to an overall weakening trend [1][5][7] 3. Summary by Related Categories Shanghai Rubber (RU) - **View**: Short - term: volatile; Mid - term: volatile; Intraday: weakly volatile; Overall: weakly run [1][5] - **Core Logic**: As geopolitical factors weaken, the common bullish marginal effect of energy and chemical commodity futures decreases, and the negative factors of the weak supply - demand structure in the rubber market re - dominate. Supply is in the peak tapping season with strong incremental expectations and high monthly output pressure. Downstream demand is weak, tire production and sales growth has slowed, and terminal demand has entered the off - season. On Monday night, the 2509 contract of domestic Shanghai rubber futures showed a weakly volatile trend, with the futures price slightly down 0.36% to 13,835 yuan/ton. It is expected to maintain a weakly volatile trend on Tuesday [5] Synthetic Rubber (BR) - **View**: Short - term: volatile; Mid - term: volatile; Intraday: weakly volatile; Overall: weakly run [1][7] - **Core Logic**: Due to the weakening of geopolitical factors, the prices of energy futures such as crude oil have fallen, dragging down the 2508 contract of synthetic rubber futures, which showed a weakly volatile trend on Monday night, with the futures price slightly down 0.22% to 11,440 yuan/ton. It is expected to maintain a weakly volatile trend on Tuesday [7]

Report Overview - Report Industry Investment Rating: Not provided - Core View: Both Shanghai rubber and synthetic rubber are expected to run in a relatively strong pattern, with short - term and intraday trends being oscillating and strong, and medium - term trends being oscillating [1][5][7] Shanghai Rubber (RU) - Short - term View: Oscillating and strong [1] - Medium - term View: Oscillating [1][5] - Intraday View: Oscillating and strong [1][5] - Reference View: Running in a strong pattern [1][5] - Core Logic: Since this week, the conflict between Iran and Israel has continued to escalate, with missile attacks on energy facilities, increasing the premium of energy - chemical products. The resonance factor supports the Shanghai rubber futures to maintain a strong pattern. The weak supply - demand structure of the rubber market is covered by the bullish atmosphere. On Wednesday night, the 2509 contract of domestic Shanghai rubber futures showed an oscillating and consolidating trend, with the price slightly down 0.11% to 13,985 yuan/ton. It is expected to maintain an oscillating and strong trend on Thursday [5] Synthetic Rubber (BR) - Short - term View: Oscillating and strong [1] - Medium - term View: Oscillating [1][7] - Intraday View: Oscillating and strong [1][7] - Reference View: Running in a strong pattern [1][7] - Core Logic: Since this week, the conflict between Iran and Israel has continued to escalate, with missile attacks on energy facilities, increasing the premium of energy - chemical products. The cost factor and resonance factor support the synthetic rubber futures to maintain a strong pattern. The weak supply - demand structure of synthetic rubber is covered by the bullish atmosphere. On Wednesday night, the 2508 contract of synthetic rubber futures showed an oscillating and strong trend, with the price slightly up 0.35% to 11,555 yuan/ton. It is expected that the 2509 contract of domestic Shanghai rubber futures will maintain an oscillating and strong trend on Thursday [7]

Report Summary 1. Report Industry Investment Rating - No investment rating information is provided in the report. 2. Report's Core View - The report predicts that both the Shanghai rubber futures 2509 contract and the synthetic rubber futures 2508 contract will likely maintain a weak and volatile trend on Tuesday, June 18, 2025 [5][7]. 3. Summary by Related Catalogs Shanghai Rubber (RU) - **Short - term, Medium - term, and Intraday Views**: Short - term and medium - term views are "volatile", and the intraday view is "weakly volatile". The reference view is "weak operation" [1][5]. - **Core Logic**: After the missile exchanges between Iran and Israel over the weekend, Iran took the initiative to ease tensions. The market's concerns about the conflict may subside, and geopolitical factors have weakened. On the night of Monday, domestic energy and chemical commodities such as crude oil and methanol declined, and the bullish sentiment diminished. The Shanghai rubber futures 2509 contract maintained a narrow - range volatile consolidation, with the price slightly rising 0.33% to 13,875 yuan/ton [5]. Synthetic Rubber (BR) - **Short - term, Medium - term, and Intraday Views**: Short - term and medium - term views are "volatile", and the intraday view is "weakly volatile". The reference view is "weak operation" [1][7]. - **Core Logic**: Similar to Shanghai rubber, due to the weakening of geopolitical factors and the decline of domestic energy and chemical commodities on the night of Monday, the synthetic rubber futures 2508 contract maintained a narrow - range consolidation, with the price slightly rising 0.22% to 11,300 yuan/ton [7].

Report Summary 1. Report Industry Investment Rating No information provided. 2. Report's Core View - Both Shanghai rubber futures 2509 and synthetic rubber futures 2508 are expected to run strongly, with an intraday view of being strongly volatile and a medium - term view of being volatile [1][5][7] 3. Summary by Related Catalogs Shanghai Rubber (RU) - **Price Movement**: On the night of last Friday, the 2509 contract of domestic Shanghai rubber futures maintained a strongly volatile trend, with the futures price slightly rising 0.22% to 13,845 yuan/ton. It is expected to maintain a strongly volatile trend on Monday [5] - **Core Logic**: With the intensification of the Middle East geopolitical conflict and the outbreak of the Israel - Iran war, energy - chemical commodities such as crude oil have risen collectively. Against the backdrop of rising energy costs and the prominent and dominant sector resonance effect, domestic rubber futures have stopped falling and stabilized. Although the natural rubber producing areas at home and abroad are in the full - scale tapping stage, with raw material output steadily increasing and new rubber supply gradually recovering, the bullish atmosphere dominates [5] Synthetic Rubber (BR) - **Price Movement**: On the night of last Friday, the 2508 contract of domestic synthetic rubber futures showed a strongly volatile trend, with the futures price slightly rising 0.40% to 11,190 yuan/ton. It is expected to maintain a strongly volatile trend on Monday [7] - **Core Logic**: With the intensification of the Middle East geopolitical conflict and the outbreak of the Israel - Iran war, energy - chemical commodities such as crude oil have risen collectively. Against the backdrop of rising energy costs and the prominent and dominant sector resonance effect, synthetic rubber futures have maintained a volatile and stable trend, and the bullish atmosphere dominates [7]

Report Summary 1. Report Industry Investment Rating - No investment rating is provided in the report. 2. Core Viewpoints - Both Shanghai rubber (RU) and synthetic rubber (BR) are expected to run strongly, with short - term and medium - term trends being oscillatory and the intraday trend being oscillatory and strong [1][5][7]. 3. Summary by Related Catalogs Shanghai Rubber (RU) - **Price Performance**: On Wednesday night, the domestic Shanghai rubber futures 2509 contract showed an oscillatory and weak trend, with the futures price slightly down 0.14% to 13,815 yuan/ton [5]. - **Core Logic**: Recently, the leaders of China and the United States had a phone call, releasing positive signals. There is an expectation that the China - US tariff war will cool down, and the two sides reached further tariff consensus in London. Under the background of rising optimism, the macro - factor has gradually strengthened. Currently, the natural rubber producing areas at home and abroad are in the full - scale tapping stage, with raw material output steadily increasing and new rubber supply gradually rising. With the macro - factor overriding the weak industrial factor, it is expected that on Thursday, the domestic Shanghai rubber futures 2509 contract may maintain an oscillatory and strong trend [5]. Synthetic Rubber (BR) - **Price Performance**: On Wednesday night, the domestic synthetic rubber futures 2508 contract slightly rose 0.55% to 11,045 yuan/ton [7]. - **Core Logic**: Similar to Shanghai rubber, the macro - factor has gradually strengthened due to the positive signals from the China - US phone call. Currently, OPEC+ oil - producing countries are accelerating the production increase rhythm, and the crude oil demand expectation is weak. With the macro - factor overriding the weak industrial factor, it is expected that on Thursday, the domestic synthetic rubber futures 2508 contract may maintain an oscillatory and strong trend [7].