合成橡胶早报-20251205

Report Overview - Report Title: Synthetic Rubber Morning Report [2] - Research Team: Energy and Chemicals Team of the Research Center [3] - Date: December 5, 2025 [3] 1. Report Industry Investment Rating - No information provided in the content. 2. Report Core View - No explicit core view is presented in the provided text; it mainly offers data on synthetic rubber market indicators. 3. Summary by Relevant Categories BR (Butadiene Rubber) Futures - BR主力合约(12) price on December 4 was 10,455, with a daily change of -120 and a weekly change of 40 [4]. - Open interest on December 4 was 32,069, down 6,917 daily and 19,952 weekly [4]. - Volume data is not provided. - Warehouse receipt quantity on December 4 was 13,420, a daily decrease of 2,030 and a weekly decrease of 2,120 [4]. - The virtual - real ratio on December 4 was 11.95, down 1 daily and 5 weekly [4]. - The basis and spread data show various changes, e.g., the butadiene - BR basis had a daily change of 70 and a weekly change of -40 [4]. Spot - Shandong market price on December 4 was 10,450, down 50 daily and unchanged weekly [4]. - Chuanhua market price on December 4 was 10,400, unchanged daily and up 50 weekly [4]. - Qilu ex - factory price on December 4 was 10,600, unchanged daily and up 200 weekly [4]. - CFR Northeast Asia was 1,300 on December 4, unchanged daily and down 25 weekly; CFR Southeast Asia was 1,575, unchanged daily and down 25 weekly [4]. Profit - Spot processing profit on December 4 was 906, up 180 daily and 26 weekly [4]. - Import profit on December 4 was -430, down 50 daily and up 217 weekly [4]. - Export profit on December 4 was 1,390, up 43 daily and down 194 weekly [4]. BD (Butadiene) Spot - Shandong market price on December 4 was 7,200, down 225 daily and 25 weekly [4]. - Jiangsu market price on December 4 was 7,050, down 200 daily and up 50 weekly [4]. - Yangzi ex - factory price on December 4 was 7,100, unchanged daily and weekly [4]. - CFR China was 850 on December 4, unchanged daily and up 30 weekly [4]. Profit - Ethylene cracking profit data is mostly N/A. - Carbon four extraction profit data is incomplete. - Butene oxidative dehydrogenation profit on December 4 was -1,764, down 200 daily and up 50 weekly [4]. - Import profit on December 4 was 115, down 200 daily and down 179 weekly [4]. - Export profit on December 4 was -986, up 174 daily and down 52 weekly [4]. Production Profit of Related Products - Styrene - butadiene production profit on December 4 was 1,538, unchanged daily and up 175 weekly [4]. - ABS production profit data is mostly N/A. - SBS production profit on December 4 was -335, unchanged daily and down 30 weekly [4].