合成橡胶早报-20251013

Report Information - Report Name: Synthetic Rubber Morning Report [2] - Research Team: Energy and Chemicals Team of the Research Center [2] - Report Date: October 13, 2025 [2] Key Figures BR (Butadiene Rubber) - Price and Volume: On October 10, the closing price of the main contract was 11,220, down 102 from the previous day and 325 from the previous week; the trading volume was 71,527, down 3,340 from the previous day and 12,158 from the previous week; the open interest of the main contract was 28,858, down 2,555 from the previous day and 22,296 from the previous week; the warrant quantity was 8,120, up 420 from the previous day and down 1,130 from the previous week [3]. - Price Difference: The spot - futures basis of cis - butadiene rubber was 130, up 105 from the previous day; the 10 - 11 month spread was 155, up 120 from the previous day; the 11 - 12 month spread was 45, up 5 from the previous day [3]. - Market Price: The Shandong market price was 11,350, unchanged from the previous day and down 230 from the previous week; the Transfar market price was 11,250, unchanged from the previous day and down 250 from the previous week; the Qilu ex - factory price was 11,500, unchanged from the previous day and down 200 from the previous week [3]. - Profit: The spot processing profit was 174, up 102 from the previous day and 295 from the previous week; the on - disk processing profit was 44, down 3 from the previous day and up 200 from the previous week; the import profit was - 81,738, down 64 from the previous day and up 1,493 from the previous week; the export profit was 163, up 7 from the previous day and 188 from the previous week [3]. BD (Butadiene) - Market Price: On October 10, the Shandong market price was 8,800, down 100 from the previous day and 515 from the previous week; the Jiangsu market price was 8,750, down 50 from the previous day and 425 from the previous week; the Yangzi ex - factory price was 8,800, down 100 from the previous day and 350 from the previous week [3]. - Profit: The carbon four extraction profit was N/A; the butene oxidative dehydrogenation profit was 6, down 50 from the previous day and 352 from the previous week; the import profit was 187, down 56 from the previous day and 415 from the previous week; the export profit was - 816, up 48 from the previous day [3]. Downstream Products - Profit: The cis - butadiene production profit was 44, down 3 from the previous day and up 200 from the previous week; the styrene - butadiene production profit was 1,025, up 75 from the previous day and down 38 from the previous week; the ABS production profit was N/A; the SBS (791 - H) production profit was 930, up 70 from the previous day and down 55 from the previous week [3]. Variety Spreads - Spreads: The RU - BR spread was - 13,543, up 2,455 from the previous day and 22,041 from the previous week; the NR - BR spread was - 16,508, up 2,440 from the previous day and 22,216 from the previous week; the Thai mixed - cis - butadiene spread was 3,400, down 100 from the previous day and up 130 from the previous week; the 3L - styrene - butadiene spread was 3,400, unchanged from the previous day and up 300 from the previous week; the cis - butadiene standard - non - standard price spread was 350, up 100 from the previous day and 170 from the previous week; the styrene - butadiene 1502 - 1712 spread was 1,000, unchanged from the previous day [3].