Report Industry Investment Rating - No relevant information provided. Core Viewpoints - The short - term and intraday views of both Shanghai rubber 2601 and synthetic rubber 2511 are "oscillating weakly", and the medium - term view is "declining", with a reference view of "weak operation" [1]. Summary by Variety Shanghai Rubber (RU) - **Viewpoints**: Intraday view is oscillating weakly, medium - term view is declining, and the overall reference view is weak operation [5]. - **Core Logic**: The US government shutdown due to the bipartisan deadlock has weakened the macro - factor. However, Typhoon "Maidoum" on October 5 may cause production cuts in natural rubber planting areas. The positive industrial factor temporarily outweighed the negative macro - factor, leading to a rebound in the Shanghai rubber 2601 contract on the first trading day after the holiday. The contract's moving average shows a bearish trend, and it is expected to oscillate weakly on Friday [5]. Synthetic Rubber (BR) - **Viewpoints**: Intraday view is oscillating weakly, medium - term view is declining, and the overall reference view is weak operation [6]. - **Core Logic**: The US government shutdown has weakened the macro - factor. During the National Day holiday, the international crude oil futures price first declined and then rose, with a cumulative decline of about 1%. The domestic crude oil futures price opened lower after the holiday. The slight rise of Shanghai rubber futures drove the synthetic rubber 2511 contract to rise slightly. It is expected to oscillate weakly on Friday [6].

Report Summary 1. Report Industry Investment Rating - No industry investment rating information is provided in the report. 2. Core Viewpoints - Both Shanghai rubber futures 2601 and synthetic rubber futures 2511 are expected to run weakly. The short - term and medium - term trends are both volatile, while the intraday trends are volatile and weak [1][5][6]. 3. Summary by Related Catalogs 3.1 Shanghai Rubber (RU) - **Price and Trend**: On Thursday night, the domestic Shanghai rubber futures 2601 contract showed a weak downward trend, with the futures price closing slightly lower by 1.76% to 15,355 yuan/ton. It is expected to maintain a weak trend on Friday [5]. - **Core Logic**: The Fed cut interest rates by 25 basis points as expected, but the dot - plot shows a slower - than - expected future interest - rate cut schedule. Also, due to the approaching National Day holiday, the operating rate of the domestic tire industry is gradually weakening, leading to weak demand in the rubber market [5]. 3.2 Synthetic Rubber (BR) - **Price and Trend**: On Thursday night, the domestic synthetic rubber futures 2511 contract maintained a weak downward trend, with the futures price closing sharply lower by 2.42% to 11,275 yuan/ton. It is expected to maintain a volatile and weak trend on Friday [6]. - **Core Logic**: Similar to Shanghai rubber, the Fed's interest - rate cut situation and the weakening operating rate of the domestic tire industry due to the approaching National Day holiday result in weak demand in the rubber market [6].