永安合成橡胶早报-20250825

Report Information - Report Name: Yongan Synthetic Rubber Morning Report [2] - Research Team: Research Center's Energy and Chemicals Team - Report Date: August 25, 2025 [3] Core Data Summary BR (Butadiene Rubber) - Price and Volume: On August 22, the closing price of the main contract was 11,660, down 115 from the previous day and 155 from the previous week; the trading volume was 89,334, down 17,547 from the previous day but up 26,069 from the previous week; the open interest was 35,755, down 2,681 from the previous day but up 15,399 from the previous week; the warrant quantity was 12,190, unchanged from the previous day but up 1,720 from the previous week [4]. - Price Structure: The virtual - to - real ratio was 14.67, down 1 from the previous day but up 5 from the previous week; the butadiene rubber basis (Shun Ding) was 40, up 65 from the previous day and 155 from the previous week; the butadiene rubber basis (two - oil) was 240, up 115 from the previous day [4]. - Market Price: The Shandong market price was 11,700, down 50 from the previous day but unchanged from the previous week; the Chuanhua market price was 11,650, down 50 from the previous day but up 50 from the previous week; the Qilu ex - factory price was 11,900, unchanged from the previous day but up 100 from the previous week [4]. - Profit: The spot processing profit was - 1, and the margin processing profit was - 41, up 62 and down 3 from the previous day respectively; the import profit was - 82,362, up 108 from the previous day and 790 from the previous week; the export profit was - 420, up 49 from the previous day but down 2 from the previous week [4]. BD (Butadiene) - Market Price: The Shandong market price was 9,315, down 110 from the previous day and 35 from the previous week; the Jiangsu market price was 9,250, down 100 from the previous day and 50 from the previous week; the Yangzi ex - factory price was 9,400, unchanged from the previous day and the previous week; CFR China was 1,080, unchanged from the previous day but up 10 from the previous week [4]. - Profit: The carbon - four extraction profit was N/A; the butene oxidative dehydrogenation profit was 156, down 100 from the previous day and 50 from the previous week; the import profit was 337, down 105 from the previous day and 129 from the previous week; the export profit was - 945, up 91 from the previous day and 114 from the previous week [4]. Downstream Products - SBS Production Profit (791 - H): It was 1,145, unchanged from the previous day and the previous week [4]. - ABS Production Profit: It was N/A [4]. - SBR Production Profit: It was 938, unchanged from the previous day but up 100 from the previous week [4]. Variety Spreads - RU - BR: It was - 20,130, up 2,586 from the previous day and down 15,679 from the previous week [4]. - NR - BR: It was - 23,245, up 2,591 from the previous day and down 15,599 from the previous week [4]. - Thai Mixed - Shun Ding: It was 2,900, up 30 from the previous day but down 50 from the previous week [4]. - 3L - SBR: It was 2,600, unchanged from the previous day and down 50 from the previous week [4]. - Shun Ding Standard - Non - Standard Spread: It was 200, up 50 from the previous day but unchanged from the previous week [4]. - SBR 1502 - 1712: It was 1,000, unchanged from the previous day [4].