jis 合成橡胶早报 研究中心能化团队 2026/3/5 | 品种 | 类别 | 指标 | 2/3 | 2/25 | 3/2 | 3/3 | 3/4 | 日度变化 | 周度変化 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | BR主力合约收盘价 | 13185 | 13045 | 13465 | 13530 | 13825 | ટકર | 780 | | | | 持仓量 | 37321 | 10540 | 39382 | 35513 | 32970 | -2543 | 22430 | | | 播 11 | 成交量 | 278095 | 98487 | 286143 | 285417 | 276462 | -8952 | 177975 | | | | 仓単数量 | 27890 | 39870 | 40870 | 41140 | 41240 | 100 | 1370 | | | | 虚实比 | 6.69 | 1.32 | 4.82 | 4.32 | 4.00 | 0 | 3 | | | | 顺丁基差 | -382 | -2 ...

7200 ono 500 2000 400 1500 300 AM 1000 200 500 100 0 -100 8/1 7/1 10/1 \ 111 12/1-h 5/1 9/1 -500 -200 -1000 -300 -1500 -400 2023 -2025 -2023 -2024 2024 - 2025 -2026 2026 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 11/1 12/1 10/1 9/1 9/1/V 11/1 V 12/1 10/1 2/1 5/1 6/1 7/1 8/1 3/1 4/1 -1000 -1000 -2000 -2000 -2021 -2022 2025 =2023 -2024 ·2026 -2021 -2022 ·2026 -2023 2024 2025 RU-BR NR-BR 6000 4000 3000 5000 2000 4000 1000 3000 0 2000 7/1 9/1 5/1 10/1 3/1 4/1 8/1 12/1 6/1 AN / ...

l js 合成橡胶早报 研究中心能化团队 2026/2/26 | 品种 | 类别 | 指标 | 1/27 | 2/13 | 2/24 | 2/25 | 2/25 | 日度变化 | 周度変化 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | BR主力合约收盘价 | 13045 | 12505 | 13140 | 13045 | 13045 | 0 | 540 | | | | 持つ量 | 79495 | 14990 | 14886 | 10540 | 10540 | 0 | -4450 | | | 需可 | 成交量 | 749819 | 152173 | 106030 | 98487 | 98487 | 0 | -53686 | | | | 仓単数量 | 28120 | 39310 | 39870 | 39870 | 39870 | 0 | 560 | | | | 虚实比 | 14.13 | 1.91 | 1.87 | 1.32 | 1.32 | 0 | -1 | | | | 顺丁基差 | -245 | -22 | -340 ...

l js 合成橡胶早报 研究中心能化团队 2026/2/12 | 品种 | 类别 | 指标 | 1/13 | 2/5 | 2/9 | 2/10 | 2/11 | 日度变化 | 周度変化 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | BR主力合约收盘价 | 12000 | 12855 | 12810 | 12860 | 13020 | 160 | 165 | | | | 持つ量 | 95318 | 33340 | 27608 | 25458 | 24037 | -1421 | -9303 | | | 需可 | 成交量 | 130171 | 311702 | 174314 | 195331 | 198743 | 3412 | -112959 | | | | 仓単数量 | 26330 | 29170 | 32270 | 34640 | 36910 | 2270 | 7740 | | | | 虚实比 | 18.10 | 5.71 | 4.28 | 3.67 | 3.26 | 0 | -2 | | | | 顺丁基差 | -10 ...

1. Report Information - Report Title: Synthetic Rubber Morning Report [2] - Research Team: Energy and Chemicals Team of the Research Center [3] - Report Date: February 10, 2026 [3] 2. BR (Butadiene Rubber) Data Summary Futures Data - On February 9, the closing price of the BR main contract was 12,810, up 20 from the previous day and down 375 week - on - week [4] - The position was 27,608, up 331 from the previous day and down 9,713 week - on - week [4] - The trading volume was 174,314, down 30,875 from the previous day and down 103,781 week - on - week [4] - The number of warehouse receipts was 32,270, up 100 from the previous day and up 4,380 week - on - week [4] - The long - short ratio was 4.28, unchanged from the previous day and down 2 week - on - week [4] Basis and Spread Data - The butadiene - styrene basis was 190, down 70 from the previous day and up 175 week - on - week [4] - The 02 - 03 spread was - 255, down 270 from the previous day and down 60 week - on - week [4] - The 03 - 04 spread was - 15, up 40 from the previous day and up 45 week - on - week [4] - The RU - BR spread was 3435, up 145 from the previous day and up 440 week - on - week [4] - The NR - BR spread was 340, up 80 from the previous day and up 430 week - on - week [4] Spot and Price Data - The Shandong market price was 12,500, down 200 from the previous day and down 300 week - on - week [4] - The Chuanhua market price was 12,600, down 100 from the previous day and down 100 week - on - week [4] - The Qilu ex - factory price was 12,800, unchanged from the previous day and down 200 week - on - week [4] - CFR Northeast Asia was 1700, up 75 from the previous day and up 75 week - on - week [4] - CFR Southeast Asia was 1850, up 25 from the previous day and up 25 week - on - week [4] Profit Data - The spot processing profit was - 382, down 328 from the previous day and down 224 week - on - week [4] - The import profit was - 1294, down 756 from the previous day and down 842 week - on - week [4] - The export profit was 1297, up 318 from the previous day and up 392 week - on - week [4] 3. BD (Butadiene) Data Summary Spot and Price Data - The Shandong market price was 10,475, up 125 from the previous day and down 75 week - on - week [4] - The Jiangsu market price was 10,300, up 50 from the previous day and down 200 week - on - week [4] - The Yangzi ex - factory price was 10,300, unchanged from the previous day and down 200 week - on - week [4] - CFR China was 1270, unchanged from the previous day and unchanged week - on - week [4] Profit Data - The ethylene cracking profit data on February 9 was N/A [4] - The C4 extraction profit data on February 9 was N/A [4] - The butene oxidative dehydrogenation profit was 1780, up 100 from the previous day and down 130 week - on - week [4] - The import profit was 215, up 74 from the previous day and down 166 week - on - week [4] - The export profit was - 804, down 63 from the previous day and up 2090 week - on - week [4] Production Profit Data - The styrene - butadiene production profit was 900, up 38 from the previous day and up 188 week - on - week [4] - The ABS production profit data after February 5 was N/A [4] - The SBS production profit was - 860, up 45 from the previous day and up 185 week - on - week [4]

研究中心能化团队 2026/2/9 80000 60000 10000 40000 8000 20000 6000 合约收费 BD | 尔 | 尔 | BR价格结构 丁-BR基差 IIII 14000 1200 1000 13500 800 13000 600 12500 400 12000 200 0 11500 7/1 5/1 6/1 -200 11000 -400 10500 -600 现货 01号约 03台约 04台约 05台约 02台约 -800 -- 2/6 -- 2/5 -- 2/4 -- 1/30 --- 1/30 --- 1/7 2023 -2024 · 2026 2025 苯-BR基差 BR03-04 合成橡胶早报 jis | 品种 | 类别 | 指标 | 1/8 | 2/2 | 2/4 | 2/5 | 2/6 | 日度变化 | 周度变化 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | BR主力合约收盘价 | 12195 | 12900 | 13315 | 12855 | 12790 | -65 | ...

7200 ono 500 2000 400 1500 300 . IAN 1000 200 500 100 0 -100 8/1 7/1 10/1 \ 111 12/1-h 5/1 9/1 -500 -200 -1000 -300 -1500 -400 2023 -2025 -2023 -2024 2024 - 2025 -2026 2026 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 11/1 12/1 10/1 9/1 9/1/V 11/1 V 12/1 10/1 2/1 4/1 5/1 6/1 7/1 8/1 3/1 -1000 -1000 -2000 -2000 -2021 -2022 2025 =2023 -2024 ·2026 2021 -2022 -2023 2024 ·2026 2025 RU-BR NR-BR 6000 4000 3000 5000 2000 4000 1000 3000 An 0 2000 7/1 9/1 5/1 10/1 3/1 4/1 8/1 12/1 6/1 ...

Report Information - Report Title: Synthetic Rubber Morning Report [2] - Research Team: Energy and Chemicals Team of the Research Center [3] - Report Date: February 3, 2026 [3] Key Data Summary BR (Butadiene Rubber) - **Futures Data**: On February 2, the closing price of the BR main contract was 12,900, a daily decrease of 490 and a weekly decrease of 145; the position was 39,702, a daily decrease of 13,679 and a weekly decrease of 39,793; the trading volume was 437,309, a daily decrease of 235,411 and a weekly decrease of 312,510; the warrant quantity was 28,310, a daily decrease of 10 and a weekly increase of 190; the long - short ratio was 7.01, a daily decrease of 2 and a weekly decrease of 7 [4]. - **Basis and Spread Data**: The butadiene - styrene basis was 300, a daily increase of 390 and a weekly increase of 145; the 02 - 03 spread was - 105, a daily decrease of 10 and a weekly decrease of 65; the 03 - 04 spread was - 35, a daily increase of 25 and a weekly decrease of 50; the RU - BR spread was 3080, a daily increase of 110 and a weekly decrease of 80; the NR - BR spread was 25, a daily increase of 180 and a weekly decrease of 15 [4]. - **Spot Price Data**: The Shandong market price was 12,750, a daily decrease of 200 and a weekly decrease of 50; the Transfar market price was 12,700, a daily decrease of 200 and a weekly decrease of 50; the Qilu ex - factory price was 13,000, with no daily or weekly change; CFR Northeast Asia was 1625, a daily increase of 75 and a weekly increase of 75; CFR Southeast Asia was 1825, a daily increase of 40 and a weekly increase of 75 [4]. - **Profit Data**: The spot processing profit was - 211, a daily decrease of 47 and a weekly increase of 154; the import profit was - 497, a daily decrease of 780 and a weekly decrease of 619; the export profit was 944, a daily increase of 444 and a weekly increase of 546 [4]. BD (Butadiene) - **Spot Price Data**: The Shandong market price was 10,550, a daily decrease of 150 and a weekly decrease of 200; the Jiangsu market price was 10,400, a daily decrease of 200 and a weekly decrease of 300; the Yangzi ex - factory price was 10,500, a daily decrease of 100 and a weekly decrease of 300; CFR China was 1270, with a weekly increase of 20 [4]. - **Profit Data**: The ethylene cracking profit data was incomplete, with the last available data on January 30 at - 29; the carbon four extraction profit data was incomplete; the butene oxidative dehydrogenation profit was 1740, a daily decrease of 200 and a weekly decrease of 370; the import profit was 285, a daily decrease of 193 and a weekly decrease of 442; the export profit was - 866, a daily increase of 168 [4]. Production Profit of Related Products - The butadiene - styrene production profit was 663, a daily increase of 75 and a weekly increase of 388; the ABS production profit data was incomplete; the SBS production profit was - 1105, a daily increase of 70 and a weekly increase of 165 [4].

Report Overview - Report Title: Synthetic Rubber Morning Report [2] - Research Team: Energy and Chemicals Team of the Research Center [3] - Date: January 30, 2026 [3] - Data Sources: Mysteel, Wind [9] Key Data Summary BR Futures - Closing price of BR main contract on January 29: 13,390, up 125 from the previous day and 460 from the previous week [4] - Open interest on January 29: 68,184, down 8,156 from the previous day and 59,192 from the previous week [4] - Trading volume on January 29: 468,486, down 46,446 from the previous day but up 111,808 from the previous week [4] - Warehouse receipt quantity on January 29: 28,320, up 100 from the previous day and 1,400 from the previous week [4] - Virtual - to - physical ratio on January 29: 12.04, down 1 from the previous day and 12 from the previous week [4] Basis and Spread - Butadiene rubber (BR) basis: - Cis - butadiene basis on January 29: - 440, down 125 from the previous day and 210 from the previous week [4] - Styrene - butadiene basis on January 29: - 190, down 125 from the previous day and 60 from the previous week [4] - Month - to - month spreads: - 02 - 03 spread on January 29: - 90, down 15 from the previous day and 15 from the previous week [4] - 03 - 04 spread on January 29: - 25, down 15 from the previous day and 25 from the previous week [4] - Cross - commodity spreads: - RU - BR spread on January 29: 3,300, up 205 from the previous day but down 82 from the previous week [4] - NR - BR spread on January 29: 140, up 140 from the previous day and down 100 from the previous week [4] Spot Prices - BR spot prices: - Shandong market price on January 29: 12,950, unchanged from the previous day and up 250 from the previous week [4] - Transfar market price on January 29: 12,900, unchanged from the previous day and up 200 from the previous week [4] - Qilu ex - factory price on January 29: 13,000, unchanged from the previous day and up 300 from the previous week [4] - CFR Northeast Asia on January 29: 1,520, unchanged from the previous day and the previous week [4] - CFR Southeast Asia on January 29: 1,785, unchanged from the previous day and up 35 from the previous week [4] - Butadiene spot prices: - Shandong market price on January 29: 10,650, up 125 from the previous day and down 350 from the previous week [4] - Jiangsu market price on January 29: 10,550, up 100 from the previous day and down 150 from the previous week [4] - Yangzi ex - factory price on January 29: 10,600, unchanged from the previous day and up 100 from the previous week [4] - CFR China on January 29: 1,270, unchanged from the previous day and up 90 from the previous week [4] Profit Margins - BR profit margins: - Spot processing profit on January 29: - 113, down 128 from the previous day but up 607 from the previous week [4] - Import profit on January 29: 286, up 15 from the previous day and 299 from the previous week [4] - Export profit on January 29: 497, down 14 from the previous day and 20 from the previous week [4] - Butadiene profit margins: - Carbon - four extraction profit: data for January 29 is N/A [4] - Butene oxidative dehydrogenation profit on January 29: 1,918, up 28 from the previous day and down 192 from the previous week [4] - Import profit on January 29: 431, up 112 from the previous day and down 820 from the previous week [4] - Export profit on January 29: - 993, up 459 from the previous day and 2,329 from the previous week [4] - Other product profit margins: - Styrene - butadiene production profit on January 29: 588, unchanged from the previous day and up 388 from the previous week [4] - ABS production profit on January 29: - 1,315, down 97 from the previous day and up 72 from the previous week [4] - SBS production profit on January 29: - 1,175, unchanged from the previous day and up 285 from the previous week [4]

Report Industry Investment Rating - Not provided in the content Core Viewpoints - Not provided in the content Summary by Relevant Catalogs BR (Butadiene Rubber) - **Futures**: The closing price of the BR main contract on January 28th was 13,265, with a daily change of 220 and a weekly change not fully legible; the holding volume was 76,340, a daily decrease of 3,155 and a weekly decrease of 20,342; the trading volume was 514,932, a daily decrease of 234,887 and a weekly increase of 332,175; the warrant quantity was 28,220, a daily increase of 100 and a weekly increase of 1,300; the virtual - real ratio was 13.53, a daily decrease of 1 and a weekly decrease of 4; the butadiene rubber basis was -315, a daily decrease of 70 and a weekly increase of 105; the styrene - butadiene basis was -72 (illegible in original data), a daily decrease of 220 and a weekly increase of 5; the 02 - 03 spread was -75, a daily decrease of 35 and a weekly increase of 5; the 03 - 04 spread was 10, a daily decrease of 5 and a weekly increase of 30; the RU - BR spread was 3,095, a daily decrease of 65 and a weekly decrease of 485; the NR - BR spread was -75, a daily decrease of 115 and a weekly decrease of 540 [4] - **Spot**: The Shandong market price was 12,950, a daily increase of 150 and a weekly increase of 1,100; the Transfar market price was 12,900, a daily increase of 150 and a weekly increase of 1,050; the Qilu ex - factory price was 13,000, with no daily change and a weekly increase of 1,000; the CFR Northeast Asia price was 1,520, with no daily change and no weekly change; the CFR Southeast Asia price was 1,785, a daily increase of 35 and a weekly increase of 35 [4] - **Profit**: The spot processing profit was 15, a daily increase of 380 and a weekly increase of 616; the import profit was 271, a daily increase of 149 and a weekly increase of 1,117; the export profit was 511, a daily increase of 113 and a weekly decrease of 729 [4] BD (Butadiene) - **Spot**: The Shandong market price was 10,525, a daily decrease of 225 and a weekly increase of 475; the Jiangsu market price was 10,450, a daily decrease of 250 and a weekly increase of 600; the Yangzi ex - factory price was 10,600, a daily decrease of 200 and a weekly increase of 700; the CFR China price was 1,270, with no daily change and a weekly increase of 90 [4] - **Profit**: The carbon four extraction profit was not fully available in the data; the import profit was 319, a daily decrease of 250 and a weekly decrease of 95; the export profit was -1,035, a daily increase of 774 and a weekly change not fully legible; the styrene - butadiene production profit was 180 (illegible in original data), a daily increase of 350 and a weekly increase of 438; the ABS production profit data was not fully available; the SBS production profit was -1,130, a daily increase of 140 and a weekly decrease of 135 [4]