永安合成橡胶早报-20250730

1. Report Information - Report Title: Yongan Synthetic Rubber Morning Report [2] - Research Team: Research Center Energy and Chemicals Team - Report Date: July 30, 2025 [3] 2. Core Data Summary 2.1 BR (Butadiene Rubber) - Price and Volume Metrics: On July 29, the closing price of the main contract was 11,835, down 120 from the previous day and 265 from the previous week; the position volume was 41,136, a decrease of 3,967 from the previous day and 8,215 from the previous week; the trading volume was 104,614, a decrease of 46,246 from the previous day and 16,773 from the previous week; the warehouse receipt quantity was 10,190, a decrease of 50 from the previous day and an increase of 340 from the previous week; the virtual - real ratio was 20.18, down 2 from the previous day and 5 from the previous week [4]. - Basis and Spread Metrics: The butadiene basis was 15, down 30 from the previous day and up 115 from the previous week; the butadiene basis (two - oil) was 565, up 120 from the previous day and 365 from the previous week; the styrene - butadiene basis was 312, down 80 from the previous day and up 165 from the previous week; the 8 - 9 month spread was - 30, up 5 from the previous day and down 45 from the previous week; the 9 - 10 month spread was 30, up 5 from the previous day and 5 from the previous week [4]. - Market Price Metrics: The Shandong market price was 11,850, down 150 from the previous day and 150 from the previous week; the Transfar market price was 11,800, down 100 from the previous day and 100 from the previous week; the Qilu ex - factory price was 12,100, unchanged from the previous day and up 100 from the previous week; CFR Northeast Asia was 1,475, unchanged from the previous day; CFR Southeast Asia was 1,750, unchanged from the previous day and up 20 from the previous week [4]. - Profit Metrics: The spot processing profit was 113, up 3 from the previous day and 309 from the previous week; the futures processing profit was 98, up 33 from the previous day and 194 from the previous week; the import profit was - 86,802, down 290 from the previous day and 987 from the previous week; the export profit was - 375, up 145 from the previous day and 313 from the previous week [4]. 2.2 BD (Butadiene) - Market Price Metrics: The Shandong market price was 9,350, down 150 from the previous day and 450 from the previous week; the Jiangsu market price was 9,400, down 150 from the previous day and 250 from the previous week; the Yangzi ex - factory price was 9,400, down 300 from the previous day and 200 from the previous week; CFR China was 1,100, unchanged from the previous day and up 50 from the previous week [4]. - Profit Metrics: The carbon - four extraction profit was not available; the butene oxidative dehydrogenation profit was 376, down 150 from the previous day and 390 from the previous week; the import profit was 328, down 163 from the previous day and 658 from the previous week; the export profit was - 1,150, up 141 from the previous day and 291 from the previous week [4]. 2.3 Downstream Products - Profit Metrics: The butadiene rubber production profit was 98, up 33 from the previous day and 194 from the previous week; the styrene - butadiene production profit was 625, up 225 from the previous day and 350 from the previous week; the ABS production profit data was not available; the SBS production profit (791 - H) was 930, up 210 from the previous day and 340 from the previous week [4]. 2.4 Spread Metrics - Inter - variety Spreads: The RU - BR spread was - 26,126, up 3,912 from the previous day and 8,165 from the previous week; the NR - BR spread was - 28,466, up 3,827 from the previous day and 8,030 from the previous week; the Thai mixed - butadiene spread was 2,750, up 50 from the previous day and 100 from the previous week; the 3L - styrene - butadiene spread was 2,750, up 100 from the previous day and 200 from the previous week [4]. - Intra - variety Spreads: The styrene - butadiene 1502 - 1712 spread was 1,100, down 100 from the previous day and unchanged from the previous week; the standard - non - standard butadiene spread was 250, unchanged from the previous day and the previous week [4]. 3. Data Source - The data sources for this report are Mysteel and Wind [9]