永安合成橡胶早报-20250917

Report Information - Report Title: Yongan Synthetic Rubber Morning Report [2] - Research Team: Energy and Chemicals Team of the Research Center [2] - Report Date: September 17, 2025 [2] Key Points 1. BR (Butadiene Rubber) - Price and Position Data: On September 16, the closing price of the main contract was 11,675, down 30 from the previous day and 15 from the previous week; the position volume was 64,216, an increase of 45,431 from the previous day and 37,366 from the previous week; the trading volume was 74,764, an increase of 38,182 from the previous day and a decrease of 43,356 from the previous week; the warehouse receipt quantity was 13,670, unchanged from the previous day and an increase of 30 from the previous week; the virtual - real ratio was 23.49, an increase of 17 from the previous day and 14 from the previous week [3]. - Basis and Spread: The butadiene rubber basis was 30 from the previous day and - 185 from the previous week; the butadiene rubber basis (two - oil) was 30 from the previous day; the styrene - butadiene basis was 130 from the previous day and - 85 from the previous week; the 8 - 9 month spread was 35 from the previous day and 145 from the previous week; the 9 - 10 month spread was 90 from the previous day and - 130 from the previous week [3]. - Market Price: The Shandong market price was 11,700, unchanged from the previous day and a decrease of 200 from the previous week; the Transfar market price was 11,550, unchanged from the previous day and a decrease of 200 from the previous week; the Qilu ex - factory price was 11,900, unchanged from the previous day and the previous week; CFR Northeast Asia was 1,525, unchanged from the previous day and an increase of 10 from the previous week; CFR Southeast Asia was 1,700, unchanged from the previous day and the previous week [3]. - Processing and Profit: The spot processing profit was - 190, a decrease of 102 from the previous day and 169 from the previous week; the disk processing profit was - 215, a decrease of 132 from the previous day and an increase of 16 from the previous week; the import profit was - 84,535, an increase of 16 from the previous day and a decrease of 166 from the previous week; the export profit was 29, a decrease of 2 from the previous day and an increase of 242 from the previous week [3]. 2. BD (Butadiene) - Market Price: The Shandong market price was 9,500, an increase of 100 from the previous day and a decrease of 30 from the previous week; the Jiangsu market price was 9,300, an increase of 50 from the previous day and unchanged from the previous week; the Yangzi ex - factory price was 9,250, unchanged from the previous day and a decrease of 100 from the previous week; CFR China was 1,090, unchanged from the previous day and a decrease of 5 from the previous week [3]. - Processing and Profit: The carbon four extraction profit was N/A; the butene oxidative dehydrogenation profit was 136, an increase of 50 from the previous day and unchanged from the previous week; the import profit was 382, an increase of 51 from the previous day and 43 from the previous week; the export profit was - 944, a decrease of 45 from the previous day and an increase of 104 from the previous week [3]. 3. Downstream Products - Production Profit: The butadiene - styrene production profit was 1,113, unchanged from the previous day and an increase of 75 from the previous week; the SBS 791 - H production profit was 825, unchanged from the previous day and a decrease of 230 from the previous week; the ABS production profit was N/A [3]. 4. Variety Spreads - Inter - Variety Spreads: RU - BR was - 48,176, a decrease of 45,386 from the previous day and 37,266 from the previous week; NR - BR was - 51,501, a decrease of 45,426 from the previous day and 37,386 from the previous week; Thai mixed - butadiene rubber was 3,450, unchanged from the previous day and an increase of 350 from the previous week; 3L - styrene - butadiene was 3,050, a decrease of 50 from the previous day and an increase of 150 from the previous week [3]. - Intra - Variety Spreads: The butadiene rubber standard - non - standard price difference was 150, a decrease of 50 from the previous day and 100 from the previous week; the styrene - butadiene 1502 - 1712 was 1,000, unchanged from the previous day and the previous week [3].