Report Summary 1. Report Industry Investment Rating - Not mentioned in the provided content 2. Report's Core View - Both Shanghai rubber (RU) and synthetic rubber (BR) are expected to run weakly in the short - term, with intraday and reference views of "weakly running" and medium - term views of "sideways" [1][5][7] 3. Summary According to Related Catalogs Shanghai Rubber (RU) - **Price Performance**: On Thursday night, the domestic Shanghai rubber futures 2509 contract slightly closed down 0.67% to 14,785 yuan/ton [5] - **Core Logic**: Although macro factors have improved and boosted confidence in the rubber market, the new rubber supply is expected to increase as domestic and foreign natural rubber producing areas enter the new tapping season and new rubber output gradually recovers. At the same time, the tire industry's procurement demand is expected to increase. Under the divergence of long and short factors, the Shanghai rubber futures may maintain a weakly sideways trend on Friday [5] Synthetic Rubber (BR) - **Price Performance**: On Wednesday night, the domestic synthetic rubber futures 2507 contract slightly closed down 0.87% to 12,010 yuan/ton [7] - **Core Logic**: Although Sino - US economic and trade relations have made substantial progress, the approaching US debt crisis in June may trigger a new round of negative macro impacts. Additionally, OPEC+ is increasing production, and the synthetic rubber supply is expected to rise. Under the suppression of bearish industrial factors, the synthetic rubber futures 2507 contract may maintain a weakly sideways trend on Friday [7]

Report Summary 1. Report Industry Investment Rating - No relevant content provided. 2. Core Viewpoints - Both Shanghai rubber futures contract 2509 and synthetic rubber futures contract 2507 are expected to run strongly on May 14, 2025, with an intraday view of being strongly volatile and a medium - term view of being weakly volatile [1][5][7]. 3. Summary by Related Catalogs Shanghai Rubber (RU) - **Market Situation**: On the night of Tuesday, the domestic Shanghai rubber futures 2509 contract closed up 1.63% to 15,240 yuan/ton [5]. - **Core Logic**: Domestic and foreign natural rubber producing areas will enter a new round of tapping seasons, and new rubber supply will gradually increase. After the May Day holiday, the tire industry's start - up rate has rebounded, and procurement demand is expected to strengthen. However, due to the lack of continuous improvement in the supply - demand structure and a slight increase in rubber inventory in Qingdao Free Trade Zone, it is difficult to support the continuous strengthening of post - holiday rubber prices. The progress of China - US economic and trade negotiations has boosted market risk appetite [5]. Synthetic Rubber (BR) - **Market Situation**: On the night of Tuesday, the domestic synthetic rubber futures 2507 contract rebounded 3.17% to 12,515 yuan/ton [7]. - **Core Logic**: During the May Day holiday, OPEC+ agreed to continue the accelerated production increase in June, bringing new supply pressure to the crude oil market. After the digestion of bearish sentiment, oil prices stabilized. Supported by cost factors and the progress of China - US economic and trade negotiations, market risk appetite has been boosted [7].

Report Summary 1. Report Industry Investment Rating No information is provided regarding the industry investment rating. 2. Report Core View - The Shanghai Rubber Futures 2509 contract and the Synthetic Rubber Futures 2507 contract are expected to maintain a slightly stronger oscillating trend on Tuesday, May 14, 2025 [1][5][7]. 3. Summary by Related Catalogs Shanghai Rubber (RU) - **Short - term, Medium - term, and Intraday Views**: Short - term: oscillating; Medium - term: oscillating and slightly weaker; Intraday: oscillating and slightly stronger; Overall view: stronger operation [1][5]. - **Core Logic**: The natural rubber producing areas at home and abroad will enter a new round of tapping season, with raw material output steadily increasing and new rubber supply gradually rising. After the May Day holiday, the tire industry's operating rate has entered a stage of recovery, and procurement demand is expected to increase. However, due to the lack of continuous improvement in the supply - demand structure and a slight increase in rubber inventories in Qingdao Free Trade Zone, it is difficult to support the continuous strengthening of rubber prices after the holiday. With the real - time progress in Sino - US economic and trade negotiations, market risk appetite has been boosted. The 2509 contract of domestic Shanghai rubber futures rose 1.69% to 15,000 yuan/ton in the night session on Monday [5]. Synthetic Rubber (BR) - **Short - term, Medium - term, and Intraday Views**: Short - term: oscillating; Medium - term: oscillating and slightly weaker; Intraday: oscillating and slightly stronger; Overall view: stronger operation [1][7]. - **Core Logic**: During the May Day holiday, OPEC+ oil - producing countries agreed to continue the accelerated production - increasing rhythm in June, bringing new supply pressure to the crude oil market. After the bearish sentiment in the crude oil market was digested, oil prices showed an oscillating and stabilizing trend. Supported by cost factors and the real - time progress in Sino - US economic and trade negotiations, market risk appetite has been boosted. The 2507 contract of domestic synthetic rubber futures continued to rebound 2.61% to 11,995 yuan/ton in the night session on Monday [7].

Report Summary 1. Report Industry Investment Rating No information provided in the report. 2. Report's Core View - Both Shanghai rubber futures 2509 contract and synthetic rubber futures 2507 contract are expected to run strongly on May 9, 2025, with an intraday view of oscillating strongly and a medium - term view of oscillating weakly [1][5][7]. 3. Summary by Related Catalogs Shanghai Rubber (RU) - **Market Situation**: On the night of Thursday, the 2509 contract of Shanghai rubber futures showed an oscillating and stabilizing trend, with the futures price slightly rising 0.07% to 14,705 yuan/ton. It is expected to maintain an oscillating and strong trend on Friday [5]. - **Core Logic**: Domestic and foreign natural rubber producing areas will enter a new round of tapping seasons, and new rubber supply will gradually increase. After the May Day holiday, the downstream tire industry's operating rate has rebounded, and procurement demand is expected to increase. However, due to the lack of continuous improvement in the supply - demand structure and a slight increase in rubber inventories in Qingdao Free Trade Zone, it is difficult to support the continuous strengthening of post - holiday rubber prices. After the bearish sentiment is digested, the futures price shows a stabilizing trend [5]. Synthetic Rubber (BR) - **Market Situation**: On the night of Thursday, the 2507 contract of domestic synthetic rubber futures showed an oscillating and strong trend, with the futures price rising 1.41% to 11,510 yuan/ton. It is expected to maintain an oscillating and strong trend on Friday [7]. - **Core Logic**: During the May Day holiday, OPEC + oil - producing countries agreed to continue to accelerate production in June, bringing new supply pressure to the crude oil market. After the bearish sentiment in the crude oil market is digested, the oil price shows an oscillating and stabilizing trend, driving the synthetic rubber futures price to rise [7].

Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 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 being oscillating and strong, and a medium - term view of being oscillating and weak [1][5][7]. 3. Summary by Related Catalogs Shanghai Rubber (RU) - **Short - term, Medium - term, and Intraday Views**: Short - term is oscillating, medium - term is oscillating and weak, and intraday is oscillating and strong, with a reference view of running strongly [1][5]. - **Core Logic**: Domestic and foreign natural rubber producing areas will enter a new round of tapping seasons, increasing raw material output and new rubber supply. After the May Day holiday, the downstream tire industry's operating rate is in a stage of recovery, and procurement demand is expected to increase. During the holiday, the Japanese rubber futures rose 1.27%, but international oil prices tumbled. With the recovery of domestic tire enterprises' operating rates after the holiday, demand factors strengthened, boosting the rubber price to stabilize and rebound. On Tuesday night, the Shanghai rubber futures 2509 contract closed slightly up 0.68% to 14,910 yuan/ton, and it is expected to maintain an oscillating and strong trend on Wednesday [5]. Synthetic Rubber (BR) - **Short - term, Medium - term, and Intraday Views**: Short - term is oscillating, medium - term is oscillating and weak, and intraday is oscillating and strong, with a reference view of running strongly [1][7]. - **Core Logic**: During the May Day holiday, OPEC+ oil - producing countries agreed to continue to accelerate production increase in June, bringing new supply pressure to the crude oil market. After the release of bearish sentiment on the first day after the holiday, international crude oil futures prices rebounded on Tuesday night, driving the synthetic rubber futures 2507 contract to rise slightly. The futures price rose 1.11% to 11,435 yuan/ton, and it is expected to maintain an oscillating and stable trend on Wednesday [7].