合成橡胶早报-20251126
Yong An Qi Huo·2025-11-26 02:07

Report Title - Synthetic Rubber Morning Report [2] Report Date - November 26, 2025 [3] Report Team - Research Center's Energy and Chemicals Team [3] Key Points from Data Table BR (Butadiene Rubber) - Futures Information: On November 25, the BR12 main contract price was 10,270, down 125 from the previous day and 435 from the previous week. The open interest was 68,735, down 1,588 daily and 2,643 weekly. The trading volume was 114,069, down 17,086 daily and 6,411 weekly. The warrant quantity was 12,500, unchanged daily and up 470 weekly. The long - short ratio was 27.49, down 1 daily and 2 weekly [4]. - Basis/Spread Information: The butadiene rubber basis was 230, up 125 daily and 335 weekly. The styrene - butadiene basis was 680, up 25 daily and 285 weekly. The 12 - 01 spread was - 30, down 30 daily and up 10 weekly. The 01 - 02 spread was 15, down 5 daily and unchanged weekly. The RU - BR spread was 4,855, down 70 daily and up 120 weekly. The NR - BR spread was 1,880, unchanged daily and up 105 weekly [4]. - Spot and Price Information: The Shandong market price was 10,500, unchanged daily and down 100 weekly. The Transfar market price was 10,300, down 50 daily and 150 weekly. The Qilu ex - factory price was 10,700, unchanged daily and weekly. The CFR Northeast Asia price was 1,325, down 25 daily and weekly. The CFR Southeast Asia price was 1,600, down 40 daily and weekly [4]. - Profit Information: The spot processing profit was 1,007, up 26 daily and 257 weekly. The import profit was - 640, up 205 daily and 112 weekly. The export profit was 1,582, down 289 daily and 209 weekly [4]. BD (Butadiene) - Spot and Price Information: The Shandong market price was 7,150, down 25 daily and 350 weekly. The Jiangsu market price was 6,950, down 50 daily and 275 weekly. The Yangzi ex - factory price was 7,200, unchanged daily and weekly. The CFR China price was 800, up 30 daily and weekly [4]. - Profit Information: The ethylene cracking profit was N/A. The carbon - four extraction profit was N/A. The butene oxidative dehydrogenation profit was - 1,864, down 50 daily and 275 weekly. The import profit was 379, down 288 daily and 509 weekly. The export profit was - 1,224, up 42 daily and down 1,117 weekly. The styrene - butadiene production profit was N/A. The ABS production profit was N/A. The SBS production profit was - 345, unchanged daily and up 15 weekly [4] Data Sources - Mysteel, Wind [8]