永安合成橡胶早报-20250905

Report Information - Report Title: Yongan Synthetic Rubber Morning Report [2][12][22] - Report Date: September 5, 2025 [2][12][22] - Research Team: Research Center Energy and Chemicals Team [2][12][22] Core Viewpoints - The report presents a comprehensive overview of the synthetic rubber market, including BR and BD, by analyzing various indicators such as prices, production and processing profits, and import/export profits [3][13][23]. Summary by Category BR (Butadiene Rubber) - Contract and Position Data: On September 4, the closing price of the main contract was 11,810, down 75 from the previous day and 170 from August 5; the position volume was 26,614, a daily decrease of 2,330 and a decrease of 14,464 from August 5; the trading volume was 130,504, a daily increase of 25,435 and a decrease of 1,793 from August 5 [3][13][23]. - Warehouse Receipts and Virtual - Real Ratio: The number of warehouse receipts remained at 12,540 on September 4, with an increase of 280 compared to August 5; the virtual - real ratio was 10.61, a daily decrease of 1 and a decrease of 6 from August 5 [3][13][23]. - Basis and Spread: The butadiene basis was 90, a daily increase of 75 and an increase of 120 from August 5; the 8 - 9 month spread was 305, an increase of 290 from August 5; the 9 - 10 month spread was 20, an increase of 35 from August 5 [3][13][23]. - Spot Prices: The Shandong market price remained at 11,900 on September 4, a decrease of 50 from August 5; the Chuanhua market price was 11,750, a decrease of 50 from the previous day and 150 from August 5; the Qilu ex - factory price was 12,100, unchanged [3][13][23]. - Processing and Import/Export Profits: The spot processing profit was - 67, a daily increase of 26 and a decrease of 35 from August 5; the on - screen processing profit was - 157, a daily decrease of 50 and a decrease of 155 from August 5; the import profit was - 86,106, unchanged from the previous day and a decrease of 60 from August 5; the export profit was - 306, unchanged from the previous day and an increase of 223 from August 5 [3][13][23]. BD (Butadiene) - Prices: On September 4, the Shandong market price was 9,575, a decrease of 25 from the previous day and 15 from August 5; the Jiangsu market price was 9,350, a decrease of 50 from the previous day and 50 from August 5; the Yangzi ex - factory price was 9,500, unchanged; the CFR China price was 1,095, unchanged [3][13][23]. - Processing and Import/Export Profits: The carbon tetrachloride extraction profit data was incomplete; the butene oxidative dehydrogenation profit was 186, a daily decrease of 50 and a decrease of 120 from August 5; the import profit was 377, a daily decrease of 50 and a decrease of 51 from August 5; the export profit was - 975, a daily increase of 44 and an increase of 222 from August 5 [3][13][23]. Downstream Products - Production Profits: The butadiene - styrene production profit was 1,125, unchanged from the previous day and an increase of 50 from August 5; the ABS production profit was - 12, a daily increase of 3 and a decrease of 45 from August 5; the SBS 791 - H production profit was 20, unchanged from the previous day and a decrease of 140 from August 5 [3][13][23]. Inter - and Intra - Product Spreads - Inter - Product Spreads: On September 4, the Thai mixed - butadiene spread was 3,080, an increase of 80 from the previous day and 180 from August 5; the RU - BR spread was - 10,654, an increase of 2,405 from the previous day and 14,479 from August 5; the NR - BR spread was - 13,879, an increase of 2,350 from the previous day and 14,419 from August 5 [3][13][23]. - Intra - Product Spreads: The butadiene standard - non - standard price spread was 300, an increase of 50 from the previous day and 100 from August 5; the butadiene styrene 1502 - 1712 spread was 1,000, unchanged from the previous day and an increase of 100 from August 5 [3][13][23].