合成橡胶早报-20250728

Report Overview - Report Title: "Yongan Synthetic Rubber Morning Report" [2] - Research Team: Research Center Energy and Chemicals Team [3] - Report Date: July 28, 2025 [3] 1. Report Industry Investment Rating - Not provided in the given content 2. Report Core View - Not provided in the given content 3. Summary by Relevant Catalogs 3.1 BR (Butadiene Rubber) 3.1.1 Futures Market - The closing price of the main contract on July 25 was 12,415, up 130 from the previous day [4]. - The open interest of the main contract on July 25 was 49,311, an increase of 483 from the previous day and 32,097 from the previous week [4]. - The trading volume of the main contract on July 25 was 160,791, up 12,149 from the previous day and 70,426 from the previous week [4]. - The warehouse receipt quantity remained unchanged at 9,840 on July 25 compared to the previous day, with a weekly increase of 140 [4]. - The virtual - to - physical ratio on July 25 was 25.06, up 16 from the previous week [4]. 3.1.2 Basis and Spread - The butadiene rubber basis on July 25 was - 215, down 30 from the previous day and 195 from the previous week [4]. - The 8 - 9 month spread on July 25 was - 30, down 5 from the previous day and 55 from the previous week [4]. - The 9 - 10 month spread on July 25 was 15, down 25 from the previous day and 15 from the previous week [4]. 3.1.3 Spot Market - The Shandong market price of butadiene rubber on July 25 was 12,200, up 100 from the previous day and 500 from the previous week [4]. - The Transfar market price on July 25 was 12,100, up 200 from the previous day and 500 from the previous week [4]. - The Qilu Petrochemical ex - factory price on July 25 was 12,200, unchanged from the previous day but up 500 from the previous week [4]. 3.1.4 Processing and Import - Export - The spot processing profit on July 25 was 81, up 24 from the previous day and 220 from the previous week [4]. - The on - disk processing profit on July 25 was 296, up 54 from the previous day and 415 from the previous week [4]. - The import profit on July 25 was - 87,056, down 16 from the previous day and 3,271 from the previous week [4]. - The export profit on July 25 was - 879, down 75 from the previous day and 284 from the previous week [4]. 3.2 BD (Butadiene) 3.2.1 Price - The Shandong market price of butadiene on July 25 was 9,725, up 75 from the previous day and 275 from the previous week [4]. - The Jiangsu market price on July 25 was 9,750, up 100 from the previous day and 300 from the previous week [4]. - The Yangzi Petrochemical ex - factory price on July 25 was 9,700, unchanged from the previous day but up 300 from the previous week [4]. - The CFR China price on July 25 was 1,100, unchanged from the previous day and up 50 from the previous week [4]. 3.2.2 Processing and Import - Export - The carbon - four extraction profit data for July 25 was not available [4]. - The butene oxidative dehydrogenation profit on July 25 was 866, up 100 from the previous day and 370 from the previous week [4]. - The import profit on July 25 was 697, up 90 from the previous day and down 80 from the previous week [4]. - The export profit on July 25 was - 1,470, up 64 from the previous day and down 282 from the previous week [4]. 3.3 Downstream Profits - The butadiene rubber production profit on July 25 was 296, up 54 from the previous day and 415 from the previous week [4]. - The styrene - butadiene rubber production profit on July 25 was 700, unchanged from the previous day and up 125 from the previous week [4]. - The ABS production profit data for July 25 was not available [4]. - The SBS (791 - H) production profit on July 25 was 520, unchanged from the previous day and down 150 from the previous week [4]. 3.4 Variety Spreads - The RU - BR spread on July 25 was - 33,726, down 143 from the previous day and 31,322 from the previous week [4]. - The NR - BR spread on July 25 was - 35,991, down 283 from the previous day and 31,452 from the previous week [4]. - The Thai mixed - butadiene rubber spread on July 25 was 2,900, up 100 from the previous day and 100 from the previous week [4]. - The 3L - styrene - butadiene rubber spread on July 25 was 2,750, down 100 from the previous day and up 100 from the previous week [4]. - The butadiene rubber standard - non - standard price difference on July 25 was 250, down 150 from the previous day and up 50 from the previous week [4]. - The styrene - butadiene rubber 1502 - 1712 spread on July 25 was 1,150, up 50 from the previous day and down 50 from the previous week [4].