ResearchIndustry Insights2026-10-19
NR-BR Spread Narrows; Import Breakeven Shifts Up
NR futures at ¥19,860/t (-0.23%), BR at ¥16,005/t (+0.19%); spread narrows. CNY exchange rate fluctuates modestly, import cost pressure remains unchanged. Tire factory operating rate stays low; rubber tapping in major producing regions enters late low-season, supply elasticity weakening.