合成橡胶早报-20251016
Yong An Qi Huo·2025-10-16 00:43

Report Overview - Report Title: Synthetic Rubber Morning Report - Research Team: Energy and Chemicals Team of the Research Center - Report Date: October 16, 2025 [2] 1. Market Data Summary 1.1 BR (Butadiene Rubber) Market - Price and Volume: The closing price of the main contract was 10,895 on October 15, with a weekly change of -205. The main contract's open interest decreased by 8,746 to 24,468, and the trading volume was 113,246, with a weekly increase of 65,011. The warehouse receipt quantity was 8,550, with a change of -3 [3]. - Basis and Spread: The basis of BR was 195, with a weekly change of -115. The 10 - 11 month spread was -475, and the 11 - 12 month spread was 35 [3]. - Market Prices: The Shandong market price of BR was 10,950, down 350 from the previous period. The Chuanhua market price was 10,800, and the Qilu ex - factory price was 11,200, down 300 [3]. - Profit Analysis: The spot processing profit was 135, and the on - screen processing profit was 141. The import profit was -79,908, and the export profit was 445 [3]. 1.2 Butadiene (BD) Market - Market Prices: The CFR Northeast Asia price was 1,500, and the CFR Southeast Asia price was 1,700, both remaining unchanged. The Shandong market price was 8,550, down 475, and the Jiangsu market price was 8,450, down 400. The Yangzi ex - factory price was 8,600, down 300 [3]. - Profit Analysis: The carbon - four extraction profit was N/A, and the butene oxidative dehydrogenation profit was 80. The import profit was -141, and the export profit was -541 [3]. 1.3 Downstream Product Markets - Production Profits: The ABS production profit was N/A, the SBS (791 - H) production profit was 730, and the butadiene styrene rubber (SBR) production profit was N/A [3]. 1.4 Inter - and Intra - Product Spreads - Inter - Product Spreads: The RU - BR spread was -17,073, the NR - BR spread was -12,233, the Thai mixed - BR spread was 3,450, and the 3L - SBR spread was 3,500 [3]. - Intra - Product Spreads: The SBR 1502 - 1712 spread was 950, and the standard - non - standard spread of BR was 450 [3]