Report Overview - Report Title: Synthetic Rubber Morning Report [2] - Research Team: Energy and Chemicals Team of the Research Center [3] - Report Date: December 4, 2025 [3] 1. BR (Butadiene Rubber) Futures Information - On December 3, the BR12 main contract price was 10,575, down 110 from the previous day and up 175 from the previous week [4]. - Open interest was 38,986, down 6,617 from the previous day and down 19,843 from the previous week [4]. - Trading volume was 122,663, down 48,624 from the previous day and up 40,181 from the previous week [4]. - Warehouse receipt quantity was 15,450, down 40 from the previous day and unchanged from the previous week [4]. - The virtual - real ratio was 12.62, down 2 from the previous day and down 6 from the previous week [4]. Basis/Spread Information - The butadiene rubber basis was -75, up 110 from the previous day and down 75 from the previous week [4]. - The 12 - 01 spread was -65, down 10 from the previous day and down 40 from the previous week [4]. - The 01 - 02 spread was 5, up 20 from the previous day and unchanged from the previous week [4]. - The RU - BR spread was 4,635, down 40 from the previous day and down 245 from the previous week [4]. - The NR - BR spread was 1,510, down 35 from the previous day and down 295 from the previous week [4]. Spot and Price Information - The Shandong market price was 10,500, unchanged from the previous day and up 100 from the previous week [4]. - The Transfar market price was 10,400, unchanged from the previous day and up 70 from the previous week [4]. - The Qilu ex - factory price was 10,600, unchanged from the previous day and up 200 from the previous week [4]. - CFR Northeast Asia was 1,300, down 25 from the previous day and down 25 from the previous week [4]. - CFR Southeast Asia was 1,575, down 25 from the previous day and down 25 from the previous week [4]. Profit Information - Spot processing profit was 727, up 77 from the previous day and down 130 from the previous week [4]. - Import profit was -390, up 199 from the previous day and up 317 from the previous week [4]. - Export profit was 1,356, down 176 from the previous day and down 281 from the previous week [4]. 2. BD (Butadiene) Spot and Price Information - The Shandong market price was 7,425, down 75 from the previous day and up 225 from the previous week [4]. - The Jiangsu market price was 7,250, unchanged from the previous day and up 250 from the previous week [4]. - The Yangzi ex - factory price was 7,100, unchanged from the previous day and unchanged from the previous week [4]. - CFR China was 850, up 30 from the previous day and up 30 from the previous week [4]. Profit Information - The ethylene cracking profit data was unavailable [4]. - The carbon four extraction profit data was partially unavailable [4]. - The import profit was 309, down 240 from the previous day and up 21 from the previous week [4]. - The export profit was -1,155, unchanged from the previous day and down 438 from the previous week [4]. - The styrene - butadiene production profit was 1,563, unchanged from the previous day and up 200 from the previous week [4]. - The ABS production profit data was unavailable [4]. - The SBS production profit was -335, down 30 from the previous day and down 30 from the previous week [4].
合成橡胶早报-20251204
Yong An Qi Huo·2025-12-04 01:31