Laid out across SNSUC 13 tracked categories, today tape splits into two curves that ignore each other. On the heavy-oil side, bitumen reads 5,304 yuan, up 1.92% on the day, while fuel oil holds at 5,434 yuan, essentially flat at -0.02%; crack margins track the feedstock end. On the rubber side, natural rubber is 19,260 yuan (+0.42%) and butadiene rubber 17,155 yuan (+1.15%); the upside is capped by upstream butadiene and arrival timing, so elasticity is far below heavy oil.

Traders read this split as more than noise: the heavy-oil chain is pulled by OPEC+ quotas and Middle East load timing, while the rubber chain is driven by Southeast Asian weather and tyre-maker inventory days; the two systems anchor to different benchmarks. SNSUC runs these as separate pricing windows, so a client watching bitumen is not whipsawed by rubber volatility, and orders land on the right anchor.

Today read is heavy-oil strong, rubber mild. Lean the arbitrage book toward heavy oil and keep rubber to just-in-time restocking rather than chasing gains on a low-elasticity grade.