20251110-国泰期货-橡胶_震荡运行_3页_680kb

Rubber Futures Research Summary

The report dated November 10, 2025, authored by Gao Linlin, analyzes the rubber market. Rubber is described as being in an oscillating phase with a trend strength of 0, classified as neutral.

Key basic trends include:

• As of November 6, semi-light truck tire inventory turnover days increased to 45.05 days (up 0.23 days from last month), and full-truck tire theory profit values rose to 0.29 yuan per kilogram (up 0.17 yuan per kilogram from the previous cycle).
• Raw material inventory for natural rubber increased to 24.5 days, with a slight rise due to cautious but limited restocking by tire companies.

Market dynamics show downstream caution after price declines, leading to slower market circulation and potential seasonal inventory accumulation starting with the latest data. Supply from the overseas producing region is expected to impact prices, while domestic supply reduction supports price resilience.

Overall, the market balance and outlook indicate stability with minor fluctuations, influenced by inventory changes and demand responsiveness.