jis 加安期货 合成橡胶早报 研究中心能化团队 2026/1/8 | 品种 | 类别 | 指标 | 12/8 | 12/31 | 1/5 | 1/6 | 1/7 | 日度变化 | 周度変化 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | BR主力合约收盘价 | 10515 | 11520 | 11645 | 11830 | 12155 | 325 | 635 | | | | 持仓量 | 27454 | 41261 | 40237 | 37293 | 33982 | -3311 | -7279 | | | 需可 | 成交量 | 62819 | 97681 | 87354 | 125869 | 138247 | 12378 | 40566 | | | | 仓単数量 | 17320 | 23490 | 23160 | 23160 | 24360 | 1200 | 870 | | | | 虚实比 | 7.93 | 8.78 | 8.69 | 8.05 | 6.97 | -1 | -2 | | | | 顺丁基差 | -15 | ...

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2500 200 600 2000 400 1500 200 AAV 1000 11/1 2/1 -200 500 -400 0 -600 7/1 8/1 9/1 10/1 11/1 12/1 5/1 -500 -800 -1000 -1000 -1500 -1200 2024 2023 2024 2025 2025 顺丁出口利润(东南亚 BR现货加工利润 6000 5000 5000 4000 4000 3000 3000 2000 2000 1000 1000 0 0 11/1 10/1 r 12/ 9VV V12/ 11/1 5/1 - 6/1 8/1 10/1 4/1 7/1 3/1 2/1 -1000 -1000 -2000 -2000 2020 2023 2020 2024 -2021 2024 ·2025 2021 2022 2025 -2022 2023 RU-BR NR-BR 6000 4000 3000 5000 2000 4000 1000 3000 0 2000 7/1 9/1 8/1 3/1 4/1 5/1 10/1 12/1 6/ AMA -1000 MAF 1000 -2000 ...

l 衣 合成橡胶早报 研究中心能化团队 2025/12/22 | 品种 | 类别 | 指标 | 11/19 | 12/15 | 12/17 | 12/18 | 12/19 | 日度变化 | 周度変化 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | BR主力合约(12) | 10705 | 10845 | 11160 | 11040 | 11020 | -20 | 175 | | | | 持つ量 | 71378 | 98043 | 105416 | 101376 | 101995 | 619 | 3952 | | | 需可 | 成交量 | 120480 | 210063 | 181436 | 127434 | 127276 | -158 | -82787 | | | | 仓単数量 | 12030 | 19180 | 19680 | 20180 | 20810 | 630 | 1630 | | | | 虚实比 | 29.67 | 25.56 | 26.78 | 25.12 | 24.51 | -1 | -1 | | | | ...

jis 合成橡胶早报 2500 200 600 2000 400 1500 200 AAV 1000 11/1 2/1 -200 500 -400 0 -600 7/1 8/1 9/1 10/1 11/1 12/1 5/1 -500 -800 -1000 -1000 -1500 -1200 2024 2023 2024 2025 2025 顺丁出口利润(东南亚 BR现货加工利润 6000 5000 5000 4000 4000 3000 3000 2000 2000 1000 1000 0 0 11/1 10/1 r 12/ 9VV V12/ 11/1 5/1 - 6/1 8/1 10/1 4/1 7/1 3/1 2/1 -1000 -1000 -2000 -2000 2020 2023 2020 2024 -2021 2024 ·2025 2021 2022 2025 -2022 2023 RU-BR NR-BR 6000 4000 3000 5000 2000 4000 1000 3000 0 2000 7/1 9/1 8/1 3/1 4/1 5/1 10/1 12/1 6/ RPORAL / / / - ...

Report Information - Report Title: Synthetic Rubber Morning Report [2] - Research Team: Energy and Chemicals Team of the Research Center [3] - Report Date: December 17, 2025 [3] Report Content BR (Cis - Polybutadiene Rubber) Futures Market - On December 16, the BR main contract (12) was at 10,930, up 85 from the previous day and 355 for the week [4]. - Open interest reached 101,056, an increase of 3,013 from the previous day and 20,510 for the week [4]. - Trading volume was 140,807, a decrease of 69,256 from the previous day but an increase of 13,815 for the week [4]. - Warehouse receipt quantity remained at 19,180, with no change from the previous day and an increase of 160 for the week [4]. - The long - short ratio was 26.34, up 1 from the previous day and 5 for the week [4]. Basis/Spread/Inter - Variety - The cis - polybutadiene basis was - 180, down 85 from the previous day and 125 for the week [4]. - The butadiene basis was 270, down 85 from the previous day and 175 for the week [4]. - The 02 - 03 spread was - 25, up 5 from the previous day and down 10 for the week [4]. - The 03 - 04 spread was - 25, unchanged from the previous day and down 10 for the week [4]. - The RU - BR spread was 4,240, down 115 from the previous day and 370 for the week [4]. - The NR - BR spread was 1,455, down 60 from the previous day and 210 for the week [4]. Spot Market - The Shandong market price was 10,750, unchanged from the previous day and up 200 for the week [4]. - The Transfar market price was 10,650, unchanged from the previous day and up 150 for the week [4]. - The Qilu ex - factory price was 10,700, up 100 from the previous day and 100 for the week [4]. - CFR Northeast Asia was 1,350, up 25 from the previous day and 25 for the week [4]. - CFR Southeast Asia was 1,600, unchanged from the previous day and for the week [4]. Profit - Spot processing profit was 543, up 92 from the previous day but down 259 for the week [4]. - Import profit was - 503, down 199 from the previous day but up 26 for the week [4]. - Export profit was 1,280, unchanged from the previous day and down 199 for the week [4]. BD (Butadiene) Spot Market - The Shandong market price was 7,850, down 90 from the previous day and up 450 for the week [4]. - The Jiangsu market price was 7,625 [4]. - The Yangzi ex - factory price was 7,550, unchanged from the previous day and up 350 for the week [4]. - CFR China was 870, unchanged from the previous day and up 10 for the week [4]. Profit - Ethylene cracking profit was N/A [4]. - C4 extraction profit was N/A [4]. - Butene oxidative dehydrogenation profit was - 1,259, up 375 [4]. - Import profit was 547, up 25 from the previous day and 311 for the week [4]. - Export profit was - 1,287, down 22 from the previous day and up 226 for the week [4]. Production Profit - Styrene - butadiene production profit was 1,288, up 100 from the previous day and down 163 for the week [4]. - ABS production profit was N/A [4]. - SBS production profit was - 465, unchanged from the previous day and down 45 for the week [4]

l js 合成橡胶早报 研究中心能化团队 2025/12/15 | 品种 | 类别 | 指标 BR主力合约(12) | 11/12 10430 | 12/8 10515 | 12/10 10605 | 12/11 10710 | 12/12 10720 | 日度变化 10 | 周度变化 205 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 持つ量 | 76397 | 27454 | 80546 | 86990 | 89834 | 2844 | 62380 | | | 需面 | 成交量 | 151513 | 62819 | 126992 | 155798 | 123845 | -31953 | 61026 | | | | 仓単数量 | 12610 | 17320 | 19020 | 19320 | 19180 | -140 | 1860 | | | | 虚实比 | 30.29 | 7.93 | 21.17 | 22.51 | 23.42 | 1 | 15 | | | | 顺丁基差 | -30 | -12 | -22 | ...

rnn 2500 oun 500 2000 400 1500 300 1000 200 500 100 0 11/1 10/1 -100 - 7/1 8/1 9/1 10/1 12/1 11/1 5/1 -500 -200 -1000 -300 -1500 -400 2024 -2023 2025 2024 2025 顺丁出口利润(东南亚 BR现货加工利润 6000 5000 5000 4000 4000 3000 3000 2000 2000 1000 1000 0 0 11/1 10/1 12/ 91V V12/ 11/1 5/1 - 6/1 10/1 4/1 7/1 8/1 3/1 2/1 -1000 -1000 -2000 -2000 2020 2020 2023 -2021 2024 ·2025 2021 2022 2024 2025 -2022 2023 RU-BR NR-BR 6000 4000 3000 5000 2000 4000 1000 3000 0 2000 7/1 9/1 8/1 10/1 12/1 3/1 4/1 5/1 6/ RPORT / 1 -1000 1000 -2000 ...

Group 1: Report Information - Report Name: Synthetic Rubber Morning Report [2] - Research Team: Energy and Chemicals Team of the Research Center [3] - Report Date: December 2, 2025 [3] Group 2: BR (Butadiene Rubber) Data Futures - BR主力合约(12) price on December 1 was 10310, with a daily change of -105 and a weekly change of 40 [4] - Open interest on December 1 was 48804, with a daily change of -3217 and a weekly change of -19931 [4] - Trading volume on December 1 was 123816, with a daily change of 26675 and a weekly change of 9747 [4] - Warehouse receipt quantity on December 1 was 15840, with a daily change of 300 and a weekly change of 3340 [4] - Long - short ratio on December 1 was 15.41, with a daily change of -1 and a weekly change of -12 [4] Basis/Spread - Butadiene rubber basis on December 1 was 90, with a daily change of 55 and a weekly change of -140 [4] - Styrene - butadiene basis on December 1 was 590, with a daily change of 105 and a weekly change of -90 [4] - 12 - 01 spread on December 1 was -40 [4] - 01 - 02 spread on December 1 was 0, with a daily change of 5 and a weekly change of -15 [4] - RU - BR spread on December 1 was 4940, with a weekly change of 85 [4] - NR - BR spread on December 1 was 1860, with a daily change of 0 and a weekly change of -20 [4] Spot - Shandong market price on December 1 was 10400, with a daily change of -50 and a weekly change of -100 [4] - Transfar market price on December 1 was 10250, with a daily change of -100 and a weekly change of -50 [4] - Qilu ex - factory price on December 1 was 10400, with no daily or weekly change [4] - CFR Northeast Asia price on December 1 was 1325, with no daily or weekly change [4] - CFR Southeast Asia price on December 1 was 1600, with no daily or weekly change [4] Profit - Spot processing profit on December 1 was 805, with a daily change of -76 and a weekly change of -202 [4] - Import profit on December 1 was -698, with a daily change of -51 and a weekly change of -86 [4] - Export profit on December 1 was 1628, with a daily change of 45 and a weekly change of 73 [4] Group 3: BD (Butadiene) Data Spot - Shandong market price on December 1 was 7250, with a weekly change of 100 [4] - Yangzi ex - factory price on December 1 was 7100, with no daily change [4] - CFR China price on December 1 was 820, with no daily change and a weekly change of 50 [4] Profit - Ethylene cracking profit data after November 27 was N/A [4] - Carbon four extraction profit data after November 28 was N/A [4] - Butene oxidative dehydrogenation profit on December 1 was -1789, with a daily change of 25 and a weekly change of 75 [4] - Import profit on December 1 was 319, with a daily change of 24 and a weekly change of -317 [4] - Export profit on December 1 was -d22, with a daily change of 120 [4] Group 4: Production Profit Data - Styrene - butadiene production profit on December 1 was 1363, with no daily change and a weekly change of 50 [4] - ABS production profit data after November 28 was N/A [4] - SBS production profit on December 1 was -302, with no daily change and a weekly change of 40 [4]

Report Overview - Report Name: Synthetic Rubber Morning Report [2] - Research Team: Energy and Chemicals Team of the Research Center [3] - Report Date: December 1, 2025 [3] 1. Report Industry Investment Rating - Not provided in the content 2. Report's Core View - Not provided in the content 3. Summary According to Related Catalogs BR (Butadiene Rubber) Futures Information - BR主力合约(12)价格11月28日为10415，日度变化15，周度变化20；持仓量52021，日度变化 -6808，周度变化 -18302；成交量97141，日度变化14659，周度变化 -34014；仓单数量15540，日度变化90，周度变化3040；虚实比16.74，日度变化 -2，周度变化 -11 [4] - 顺丁基差35，日度变化35，周度变化 -70；丁本县差485，日度变化 -15，周度变化 -170；12 - 01为 -30，日度变化 -30；01 - 02为 -5，日度变化 -10，周度变化 -25；RU - BR为4995，日度变化115，周度变化70；NR - BR为1860，周度变化 -20 [4] Spot Information - 山东市场价10450，日度变化50，周度变化 -50；传化市场价10350，日度变化20，周度变化0；齐鲁出厂价10400，日度变化0，周度变化 -300；CFR东北亚1325，日度变化0，周度变化 -25；CFR东南亚1600，日度变化0，周度变化 -40 [4] Profit Information - 现货加工利润881，日度变化25，周度变化 -101；进口利润 -648，周度变化197；出口利润1584，日度变化 -52，周度变化 -286 [4] BD (Butadiene) Spot Information - 山东市场价7225，日度变化25，周度变化50；江苏市场价7000，日度变化0，周度变化0；扬子出厂价7100，日度变化0，周度变化 -100；CFR中国820，日度变化0，周度变化50 [4] Profit Information - 乙烯裂解利润 -63到 N/A；碳四抽提利润911到 N/A；丁烯氧化脱氢利润 -1814，日度变化0，周度变化0；进口利润294，日度变化5，周度变化 -374；出口利润 -933，日度变化350，周度变化 -804 [4] Production Profit - 丁苯生产利润1363，日度变化0，周度变化 -50；ABS生产利润 -369，日度变化 -20，周度变化 -67；SBS生产利润 -302，日度变化0，周度变化40 [4]