Report Title - Synthetic Rubber Data Daily Report [3] Report Date - October 15, 2025 [4] Industry Investment Rating - Not provided Core Viewpoints - On October 14, the domestic butadiene market fluctuated slightly. The previous low prices attracted better trading, prompting some suppliers to raise prices. However, due to the weak performance of major downstream products, the market buying sentiment remained cautious, and the slightly higher price quotes had poor trading, which limited the upward range of the market [4]. - The capacity utilization rate of China's high - cis butadiene rubber was 78.99%, a 1.41 - percentage - point increase from the previous working day. The theoretical production profit of butadiene rubber was a small loss of 157 yuan/ton [4]. - Although the short - term shutdown of an upstream device in Shandong affected the market in the morning, the impact was considered limited in the afternoon. The butadiene end had a large amount of external resources and good trading performance. The downstream remained on the sidelines due to trade frictions and the slightly weak natural rubber market [4]. - Considering that the trading center of private resources was significantly lower than the current ex - factory prices of Sinopec and PetroChina, some industry players were cautiously waiting for the price policy adjustment of Sinopec and PetroChina [4]. Summary by Related Catalogs Market Conditions - Futures Market: The closing price of BR2511.SHF was 10,920 yuan/ton, down 1.28%; the settlement price was 10,825 yuan/ton, down 1.01%. The trading volume was 65,011, down 42.59%; the open interest was 29,075, down 9.18% [4]. - Spot Market: The delivered price in the central Shandong region was around 8,550 - 8,650 yuan/ton, and the ex - tank self - pick - up price in East China was around 8,200 - 8,300 yuan/ton. The market prices in Hangzhou, Jiangsu, and Shandong all decreased [4]. - Crude Oil Market: WTI was at 57.84 US dollars/barrel, down 5.24%; Brent was at 62.09 US dollars/barrel, down 4.81% [4]. Production and Profit - Capacity Utilization: The capacity utilization rate of high - cis butadiene rubber was 78.99% [4]. - Production Profit: The theoretical production profit of butadiene rubber was - 157 yuan/ton [4]. Market Sentiment and Strategy - Market Sentiment: Trade frictions and the weak natural rubber market made downstream players cautious. Some players were waiting for the price policy adjustment of Sinopec and PetroChina [4]. - Strategy: Unilateral: BR was in a consolidation operation; Arbitrage: After the spread widened again, pay attention to going long on BR and short on RU or NR [4].
合成橡胶数据日报-20251015
Guo Mao Qi Huo·2025-10-15 08:47