合成橡胶数据日报-20251105

Report Overview - The report is a daily data report on synthetic rubber, focusing on the domestic butadiene and cis - butadiene rubber markets [2][3] Key Points Market Conditions - Domestic Butadiene Market: On November 4, the domestic butadiene market continued its downward trend. The supply was abundant, and the downstream rigid demand couldn't provide effective support. The price in Shandong Luzhong area was around 7000 - 7100 yuan/ton, and the ex - tank self - pick - up price in East China was around 6600 yuan/ton [3] - Cis - Butadiene Rubber Market: The capacity utilization rate of China's high - cis butadiene rubber was 64.50%, a decrease of 2.79 percentage points from the previous working day. The theoretical production profit of cis - butadiene rubber increased significantly to 893 yuan/ton [3] Price Changes - Butadiene: The price of Sinopec East China butadiene decreased by 300 yuan/ton to 6900 yuan/ton [3] - Cis - Butadiene Rubber: The ex - factory price of Sinopec Chemical Sales cis - butadiene rubber remained stable at 10500 yuan/ton [3] Market Expectations - Most industry players expect the cost of cis - butadiene rubber to continue to decline due to the expected increase in butadiene supply and low - price transactions of South Korean butadiene resources. The market generally expects the supply price of Sinopec and PetroChina's cis - butadiene rubber to be further reduced [3] Strategy - Single - side: The BR contract is expected to consolidate [3] - Arbitrage: After the spread widens again, consider going long on BR and short on RU or NR [3]