合成橡胶早报-20260225

Report Information - Report Title: Synthetic Rubber Morning Report [2] - Report Date: February 25, 2026 [3] - Research Team: Energy and Chemicals Team of the Research Center [3] Key Data Summary BR (Butadiene Rubber) - Price and Volume: The closing price of the BR main contract on February 24 was 13,140, with a daily change of 635 and a weekly change of 120. The holding volume was 14,886, a daily decrease of 104 and a weekly decrease of 9,151. The trading volume was 106,030, a daily decrease of 46,143 and a weekly decrease of 92,713 [4]. - Warehouse Receipts and Ratios: The warehouse receipt quantity was 39,870, a daily increase of 560 and a weekly increase of 2,960. The long - short ratio was 1.87, with no daily change and a weekly decrease of 1 [4]. - Basis and Spreads: The butadiene rubber basis was -190, a daily decrease of 135 and a weekly increase of 230. The styrene - butadiene basis was 60, a daily decrease of 285 and a weekly increase of 30. The 02 - 03 spread was -665, a daily decrease of 610 and a weekly decrease of 520. The 03 - 04 spread was -20, a daily increase of 65 and a weekly increase of 30 [4]. - Price Differences with Other Rubbers: The RU - BR price difference was 3,890, a daily increase of 80 and a weekly increase of 335. The NR - BR price difference was 111, a daily decrease of 20 and a weekly increase of 230 [4]. - Market Prices: The Shandong market price was 12,950, a daily increase of 500 and a weekly increase of 350. The Transfar market price was 12,900, a daily increase of 300 and a weekly increase of 250. The Qilu ex - factory price was 12,800, with no daily or weekly change [4]. - Profits: The spot processing profit was -164, a daily increase of 347 and a weekly increase of 299. The import profit was -817, a daily increase of 500. The export profit was 881, a daily decrease of 435 and a weekly decrease of 313 [4]. Other Rubbers and Related Products - Styrene - Butadiene Rubber: The Shandong market price was 10,700, a daily increase of 150 and a weekly increase of 50. The Jiangsu market price was 10,350, a daily increase of 50. The Yangzi ex - factory price was 10,400, a daily increase of 100 and a weekly increase of 100. The import profit was 285, a daily increase of 50 and a weekly increase of 6. The export profit was -864, a 133 - unit increase compared to the previous relevant data point. The styrene - butadiene production profit was 888, a daily decrease of 25 and a weekly decrease of 13 [4]. - ABS and SBS: The ABS production profit was -169 (data for some days are not available). The SBS production profit was -875, a 12 - unit increase compared to the previous relevant data point [4]. - Butadiene - related Profits: The butylene oxidative dehydrogenation profit was 1,830, a daily decrease of 90 and a weekly decrease of 70. The carbon - four extraction profit was -30 (data for some days are not available) [4].