永安合成橡胶早报-20250811

Report Overview - Report Title: "Yongan Synthetic Rubber Morning Report" [2] - Research Team: Research Center Energy and Chemicals Team [3] - Report Date: August 11, 2025 [3] 1. BR (Butadiene Rubber) 1.1 BR Main Contract Overview - Closing price of the main contract on August 8 was 11,515, down 20 from the previous day and up 60 week-on-week [4] - Open interest of the main contract on August 8 was 25,625, down 831 from the previous day and down 8,314 week-on-week [4] - Trading volume of the main contract on August 8 was 41,370, down 18,741 from the previous day [4] - Warehouse receipt quantity on August 8 was 10,310, unchanged from the previous day and down 30 week-on-week [4] - Virtual-to-real ratio on August 8 was 12.43, unchanged from the previous day and down 4 week-on-week [4] 1.2 BR Price Structure - Shandong market price on August 8 was 11,600, up 50 from the previous day and unchanged week-on-week [4] - Chuanhua market price on August 8 was 11,450, unchanged from the previous day and unchanged week-on-week [4] - Qilu ex-factory price on August 8 was 11,500, unchanged from the previous day and down 300 week-on-week [4] - CFR Northeast Asia on August 8 was 1,450, unchanged from the previous day and down 25 week-on-week [4] - CFR Southeast Asia on August 8 was 1,750, unchanged from the previous day and unchanged week-on-week [4] 1.3 BR Processing and Import/Export - Spot processing profit on August 8 was -163, up 50 from the previous day and down 179 week-on-week [4] - Futures processing profit on August 8 was -248, down 20 from the previous day and down 119 week-on-week [4] - Import profit on August 8 was -82,233, up 47 from the previous day and up 2,840 week-on-week [4] - Export profit on August 8 was -332, down 43 from the previous day and down 222 week-on-week [4] 2. BD (Butadiene) 2.1 BD Price - Shandong market price on August 8 was 9,375, unchanged from the previous day and up 175 week-on-week [4] - Jiangsu market price on August 8 was 9,300, unchanged from the previous day and up 100 week-on-week [4] - Yangzi ex-factory price on August 8 was 9,400, unchanged from the previous day and up 200 week-on-week [4] - CFR China on August 8 was 1,080, unchanged from the previous day and unchanged week-on-week [4] 2.2 BD Processing and Import/Export - Carbon four extraction profit data was not available on August 8 [4] - Butene oxidative dehydrogenation profit on August 8 was 206, unchanged from the previous day and up 30 week-on-week [4] - Import profit on August 8 was 386, unchanged from the previous day and up 137 week-on-week [4] - Export profit on August 8 was -1,060, unchanged from the previous day and down 45 week-on-week [4] 3. Downstream Profits - Butadiene rubber production profit on August 8 was -248, down 20 from the previous day and down 119 week-on-week [4] - Styrene-butadiene rubber production profit on August 8 was 550, unchanged from the previous day and down 350 week-on-week [4] - ABS production profit data was not available on August 8 [4] - SBS (791-H) production profit on August 8 was 960, unchanged from the previous day and down 140 week-on-week [4] 4. Price Spreads 4.1 Inter-variety Spreads - RU - BR on August 8 was -10,075, up 856 from the previous day and up 9,554 week-on-week [4] - NR - BR on August 8 was -13,220, up 886 from the previous day and up 8,544 week-on-week [4] - Thai mixed - Butadiene rubber on August 8 was 2,780, down 20 from the previous day and up 330 week-on-week [4] - 3L - Styrene-butadiene rubber on August 8 was 2,600, unchanged from the previous day and up 100 week-on-week [4] 4.2 Intra-variety Spreads - Standard - non-standard Butadiene rubber price spread on August 8 was 250, up 50 from the previous day and unchanged week-on-week [4] - Styrene-butadiene rubber 1502 - 1712 on August 8 was 1,050, down 50 from the previous day and down 100 week-on-week [4]