合成橡胶早报-20250929

Report Overview - The report is titled "Synthetic Rubber Morning Report" and is from the Energy and Chemicals Team of the Research Center, dated September 29, 2025 [2] Key Data Summary 1. BR Main Contract - Closing price: 11,445 on September 19, decreased by 115 from September 26 and 15 from the previous week [3] - Open interest: 75,259 on September 19, decreased by 11,063 from September 26 and 35,168 from the previous week [3] - Trading volume: 94,561 on September 19, increased by 108,069 from September 26 and 97,193 from the previous week [3] - Warehouse receipts: 10,230 on September 19, unchanged from September 26 and decreased by 980 from the previous week [3] - Reality-to-virtual ratio: 36.78 on September 19, decreased by 6 from September 26 and 15 from the previous week [3] 2. Basis and Spread - Butadiene basis: 690 on September 19, decreased by 35 from September 26 and 85 from the previous week [3] - 10 - 11 month spread: 70 on September 19, increased by 20 from September 26 and decreased by 35 from the previous week [3] - 11 - 12 month spread: 5 on September 19, increased by 10 from September 26 [3] 3. Market Prices - Shandong market price: 11,600 on September 19, decreased by 30 from September 26 and 50 from the previous week [3] - Chuanhua market price: 11,450 on September 19, decreased by 50 from September 26 [3] - Qilu ex - factory price: 11,700 on September 19, unchanged from September 26 and the previous week [3] - CFR Northeast Asia: 1,525 on September 19, unchanged from September 26 and decreased by 25 from the previous week [3] - CFR Southeast Asia: 1,700 on September 19, unchanged from September 26 and the previous week [3] 4. Processing and Profit - Spot processing profit: - 290 on September 19, increased by 138 from September 26 and 307 from the previous week [3] - Futures processing profit: - 445 on September 19, increased by 53 from September 26 and 342 from the previous week [3] - Import profit: - 82,977 on September 19, decreased by 49 from September 26 and 309 from the previous week [3] - Export profit: 111 on September 19, increased by 29 from September 26 and decreased by 106 from the previous week [3] 5. Downstream and Inter - variety Spreads - Butadiene styrene production profit: 963 on September 19, unchanged from September 26 and increased by 100 from the previous week [3] - ABS production profit: 106 on September 19 [3] - SBS production profit (791 - H): 885 on September 19 [3] - RU - BR spread: - 59,724 on September 19, increased by 10,963 from September 26 and 35,103 from the previous week [3] - NR - BR spread: - 62,959 on September 19, increased by 11,068 from September 26 and 35,303 from the previous week [3] - Thai mixed - cis - butadiene spread: 3,130 on September 19, increased by 30 from September 26 and 170 from the previous week [3] - 3L - butadiene styrene spread: 3,050 on September 19, increased by 100 from September 26 and 150 from the previous week [3] - Cis - butadiene standard - non - standard spread: 200 on September 19, increased by 70 from September 26 and 50 from the previous week [3] - Butadiene styrene 1502 - 1712 spread: 1,000 on September 19, unchanged from September 26 and the previous week [3]