永安合成橡胶早报-20250722

Report Information - Report Title: Yong'an Synthetic Rubber Morning Report [2] - Research Team: Research Center's Energy and Chemicals Team [3] - Report Date: July 22, 2025 [3] Core Data Summary BR (Butadiene Rubber) - Price and Volume: The closing price of the main contract was 11,995, up 275 from the previous day and 370 from the previous week; the trading volume was 87,016, down 3,349 from the previous day but up 12,030 from the previous week; the open interest was 14,993, down 2,221 from the previous day and 9,436 from the previous week; the warehouse receipt quantity was 9,700, unchanged from the previous day and up 500 from the previous week [4]. - Basis and Spread: The butadiene rubber basis (Shun - Ding) was -145, down 125 from the previous day and 170 from the previous week; the 8 - 9 spread was 25, unchanged from the previous day and up 5 from the previous week; the 9 - 10 spread was 25, down 5 from the previous day and unchanged from the previous week [4]. - Market Price: The Shandong market price was 11,850, up 150 from the previous day and 200 from the previous week; the Chuanhua market price was 11,800, up 200 from the previous day and 250 from the previous week; the Qilu ex - factory price was 12,000, up 300 from the previous day and 300 from the previous week [4]. - Profit: The spot processing profit was -372, down 233 from the previous day and 269 from the previous week; the futures processing profit was -227, down 108 from the previous day and 99 from the previous week; the import profit was -85,993, down 2,208 from the previous day and 2,358 from the previous week; the export profit was -733, down 138 from the previous day and 161 from the previous week [4]. BD (Butadiene) - Market Price: The Shandong market price was 9,825, up 375 from the previous day and 460 from the previous week; the Jiangsu market price was 9,600, up 150 from the previous day and 300 from the previous week; the Yangzi ex - factory price was 9,600, up 200 from the previous day and 300 from the previous week; the CFR China price was 1,050, unchanged from the previous day and down 20 from the previous week [4]. - Profit: The carbon four extraction profit was not available; the butene oxidative dehydrogenation profit was 646, up 150 from the previous day and 510 from the previous week; the import profit was 933, up 157 from the previous day and 451 from the previous week; the export profit was -1,468, down 136 from the previous day and 395 from the previous week [4]. Downstream Products - Profit: The butadiene rubber production profit was -227, down 108 from the previous day and 99 from the previous week; the styrene - butadiene rubber production profit was 525, down 50 from the previous day and 100 from the previous week; the ABS production profit was not available; the SBS production profit (791 - H) was 530, down 140 from the previous day and 180 from the previous week [4]. Variety Spreads - Inter - Variety Spreads: The RU - BR spread was -98, up 2,306 from the previous day and 9,971 from the previous week; the NR - BR spread was -2,243, up 2,296 from the previous day and 9,861 from the previous week; the Thai mixed - butadiene rubber spread was 2,720, down 80 from the previous day and up 220 from the previous week; the 3L - styrene - butadiene rubber spread was 2,500, down 150 from the previous day and unchanged from the previous week; the butadiene rubber standard - non - standard spread was 100, down 100 from the previous day and 100 from the previous week [4]. - Intra - Variety Spreads: The styrene - butadiene 1502 - 1712 spread was 1,100, down 100 from the previous day and 50 from the previous week [4].