The 120,000-ton/year high-cis polybutadiene rubber unit at Yanshan Petrochemical is operating normally, with a planned production volume of 6,200 tons for high-cis polybutadiene rubber in January 2026. PriceSeek analysis of polybutadiene rubber shows a bearish score of -1. The normal operation of Yanshan Petrochemical's unit and the planned production of 6,200 tons in January 2026 indicate a stable increase in supply, exerting downward pressure on spot prices, as ample supply may dampen purchasing enthusiasm from demand-side buyers. Combined with butadiene rubber futures data, the settlement price of the main contract, such as 2603, is 11,975 yuan/ton, down 115 yuan, with open interest increasing by 3,223 lots, reflecting a strengthening bearish sentiment in the market. The expectation of increased supply may exacerbate the downward trend in futures prices, and it is recommended to monitor subsequent changes in demand.