市场资讯： 本周二（1月13日），国内期市谷物板块大面积飘红，其中，早籼稻期货主力合约保持不变，截止发 稿，早籼稻主力合约报2500.00元/吨。 美国玉米主产州未来6-10日66.67%地区有较高的把握认为气温将低于正常水平，67%地区有较高的把握 认为降水量将接近正常水平。 美国农业部数据显示，本月2025/26年度美国玉米前景显示，产量增加，饲料及损耗用量上升，食品、 种子和工业用量减少，期末库存增加。 截至2025年12月1日，美国玉米库存总量为133亿蒲式耳，同比增加10%。其中农场库存量为87亿蒲式 耳，同比增加14%；非农场库存量为45.8亿蒲式耳，同比增加4%。玉米消费量为52.9亿蒲式耳，去年同 期为45.8亿蒲式耳。 据巴西农业部下属的国家商品供应公司CONAB，截至1月10日，巴西一茬玉米播种率为89.9%，上周为 88.3%，去年同期为87.1%，五年均值为85.7%；巴西玉米收割率为2.4%，上周为0.7%，去年同期为 2.3%，五年均值为4.2%。 ...

【供应】据Mysteel统计，12月国内43家不锈钢厂粗钢预估产量326.71万吨，月环比减少22.6万吨，减幅 6.47%，同比减少5.09%；300系176.33万吨，月环比增加0.16万吨，增幅0.09%，同比减少5%。1月不锈 钢粗钢预计排产332.7万吨，月环比增加1.83%，同比增加16.27%；300系171.93万吨，月环比减少 2.5%，同比增加9.78%。目前钢厂整体减产力度有限，年末钢厂检修增加，亏损压力可能迫使更多钢厂 主动减产。 【现货】据Mysteel，截至1月12日，无锡宏旺304冷轧价格13900元/吨，日环比上涨100元/吨；佛山宏旺 304冷轧价格13800元/吨，日环比上涨50元/吨；基差215元/吨，日环比上涨105元/吨。 【原料】镍矿方面，菲律宾Benguet矿山1.25镍矿招标落地至32.5美元，环比上涨；印尼下调镍矿配额预 期，印尼1月(一期)内贸基准价上涨0.05-0.08美元/湿吨，内贸升水方面，当前主流升水维持+25。在镍的 带动下，镍铁价格涨幅明显，镍铁市场主流报价抬高至980-1000元/镍(舱底含税)，主流成交价格集中在 950元/镍附近；铬铁现货资 ...

北京时间周二(1月13日)亚盘时段，美元指数交投于98.918附近，现货白银今日开盘于85.16美元/盎司， 目前交投于84.28美元/盎司附近，白银t+d交投于21046元/千克附近，沪银主力交投于21046元/千克附 近。今日基本面关注美国将公布12月未季调CPI年率。 周一(1月12日)美元指数下跌0.24%，收报98.896，现货白银收报85.16美元/盎司，上涨6.51%，由于特朗 普政府对美联储主席鲍威尔展开刑事调查的不确定性加深，现货黄金一度突破4600美元关口，创下历史 新高，现货白银价格一度站上创纪录的86美元大关：现货黄金上涨1.97%，报4597.94美元/盎司，现货 铂金收涨3.03%，报2337.30美元/盎司；现货钯金收涨1.80%，至1851.00元/盎司。 【最新数据一览】 1月12日白银ETF持仓16347.95吨，较前一交易日上涨39.47吨。 1月12日延期补偿费支付方向：Ag(T+D)—空付多。 【要闻速递】 1、白宫称特朗普未指示司法部调查鲍威尔。美媒曝检察官在发起调查时未知会白宫和司法部本部，贝 森特"很不高兴"。 2、美媒：特朗普本周将就美联储主席一职面试贝莱德高 ...

Group 1: Raw Materials and Spot Prices - As of January 12, cup rubber is priced at 52.23 THB/kg (down 0.53), latex at 57.00 THB/kg (up 1.00), Hainan private rubber at 15,500 CNY/ton (up 500), Qingdao bonded zone Thai standard at 1,920 USD/ton (up 10), and Thai mixed rubber at 15,100 CNY/ton (up 50) [1] Group 2: Tire Production Rates and Inventory - As of January 8, the capacity utilization rate for Chinese semi-steel tire sample enterprises is 63.78%, down 2.75 percentage points month-on-month and down 13.97 percentage points year-on-year. The full-steel tire capacity utilization rate is 55.50%, down 2.43 percentage points month-on-month and down 3.37 percentage points year-on-year [1] - The average inventory turnover days for semi-steel tire sample enterprises is 47.36 days, up 0.31 days month-on-month and up 6.04 days year-on-year. For full-steel tire sample enterprises, the average inventory turnover days is 44.62 days, up 0.34 days month-on-month and down 1.52 days year-on-year [1] Group 3: Export Data and Market Trends - In the first eleven months of 2025, Indonesia's natural rubber exports (excluding compound rubber) totaled 1.458 million tons, a year-on-year decrease of 1%. Exports to China amounted to 284,000 tons, a year-on-year increase of 88% [2] - Overall, Indonesia's total natural rubber and mixed rubber exports reached 1.551 million tons, a year-on-year increase of 4%, with exports to China increasing by 119% [2] Group 4: Supply and Demand Dynamics - Supply from Southeast Asia is expected to increase due to the high production period, but cooler temperatures in northeastern Thailand and international market restocking demand may keep overseas raw material prices high. Demand remains cautious post-holiday, with tire production expected to improve as companies resume operations [3] - The market is primarily focused on inventory digestion and replenishment, with short-term sales unlikely to see significant improvement. Overall social inventory remains sufficient, and replenishment remains cautious [3] Group 5: Price Expectations - It is anticipated that rubber prices will maintain a range-bound fluctuation between 15,500 and 16,500 CNY, supported by lower raw material prices but pressured by weak demand. Future attention will be on the production situation in Thailand [3]

【现货】 截止1月12日收盘，铁矿主力合约0.92%(+7.5)，收于822.5元/吨。 【基差】 最优交割品为PB粉。PB粉和卡粉仓单成本分别为887元和884元。主力合约PB粉基差66元/吨。 本期全球发运环比小幅回落，但仍处于历史同期高位水平。全球发运-32.8万吨至3213.7万吨。澳洲巴西 铁矿发运总量2606.4万吨，环比减少136.4万吨。澳洲发运量1931.6万吨，环比减少8.0万吨，其中澳洲发 往中国的量1652.0万吨，环比增加36.7万吨。巴西发运量674.8万吨，环比减少128.3万吨。45港口到港量 2920万吨，环比增加164万吨。 主流矿粉现货价格：日照港（600017）PB粉+6至828元/湿吨，巴混+2至859元/湿吨，卡粉+6至920元/湿 吨。 【库存】 【期货】 【需求】 日均铁水产量229.5万吨，环比+2.07万吨；高炉开工率79.31%，环比+0.37%；高炉炼铁产能利用率 86.04%，环比+0.78个百分点；钢厂盈利率37.66%，环比-0.44个百分点。 【供给】 【观点】 昨日铁矿主力合约高位震荡，盘面小幅增仓。现货市场偏强运行，但下游钢厂仍按需采购。消息 ...

对餐饮经营者来说，环保检查的重点越来越明确：看的不是后厨有多忙，而是最终排出去的有没有"问 题"。油烟净化，功夫往往就在这最后一米。 您的排烟系统，可能风机有力、管道通畅，但如果在排放末端缺少关键净化，不仅面临合规风险，更会 让整条管道成为油垢的温床，带来安全和成本的长期隐患。 真正的解决方法，在于厨房末端的高效拦截。 浩盾通风设备(上海)有限公司公司开发的ESP静电除油净化器，相当于为您的整个排烟系统装上了一个 可靠的"智能过滤器"。作为末端关键设备，它直达三个核心结果： 作为油烟进入大气前的最后一道关卡，它高效捕集油雾颗粒，确保目测无烟，让您的排放数据始终符合 环保要求，避免投诉与罚单。 简单讲，安装厨房末端ESP静电除油净化器，不是增加负担，而是为整个排烟系统"上保险"。 它保护的 是您的合规经营，是昂贵的风机与管道资产，更是后厨长期的安全与清洁。 浩盾公司专注于为商用厨房提供定制化的油烟净化解决方案。我们提供的不仅是一台设备，更是一套量 身定制的后厨空气质量管理方案。从专业现场勘察、风量匹配测算，到高效产品配置与安装指导，浩盾 全程护航，确保净化效果最大化。 立即咨询，获取针对您厨房的末端净化解决方案 ...

Core Viewpoint - The ICE US Dollar Index has entered a downward trend, breaking key support levels and ending a previous streak of gains, indicating short-term pressure on the dollar [1] Group 1: Federal Reserve and Monetary Policy - The recent Federal Reserve meeting saw a significant number of dissenting votes, highlighting deep internal divisions among committee members regarding interest rate policy [1] - There are two opposing factions within the dissenting group: one advocating for maintaining rates to prevent sticky inflation, while the other supports larger rate cuts to address weak employment [1] - The divergence in opinions among committee members has led to decreased predictability in policy, undermining market confidence in the dollar [1] Group 2: Global Central Bank Policies - Central bank policies among major economies are increasingly diverging, exerting continuous pressure on the dollar [1] - The Federal Reserve has initiated a rate-cutting cycle, but the pace of future cuts remains uncertain; the European Central Bank has paused cuts, while the Bank of Japan is gradually increasing rates [1] - This lack of coordinated policy among central banks disrupts the previous supportive environment for the dollar, making it difficult for the currency to rely on a single easing cycle for sustained support [1] Group 3: Economic Indicators and Market Reactions - The U.S. economy is experiencing a "growth and employment temperature gap," with GDP growth expectations being raised while non-farm employment data remains weak [1] - The Federal Reserve is adopting a "wait-and-see" approach, planning to pause rate cuts in the short term, which further amplifies market volatility due to policy uncertainty [1] - Following the dollar's decline, non-U.S. currencies have strengthened, gold prices have surged, and U.S. Treasury yields have slightly decreased, indicating a shift towards safe-haven assets [2] Group 4: Future Outlook and Risks - In the short term, the dollar index needs to be monitored closely for key moving average support levels, with potential for further declines if these are breached [2] - The long-term outlook for the dollar index will hinge on the pace of Federal Reserve rate cuts and the policy direction of the new chairperson, with predictions suggesting a "steady then weak" trend for the year [2] - There are three major risk variables to watch: potential inflation resurgence, geopolitical conflicts, and financial market turbulence, which could alter the rate-cutting path and lead to significant adjustments in the dollar index and global market volatility [2]

Group 1: Monetary Policy and Economic Outlook - The European Central Bank (ECB) maintains a steady stance on monetary policy, keeping key interest rates unchanged: deposit facility rate at 2.00%, main refinancing rate at 2.15%, and marginal lending rate at 2.40% until June 2025 [1] - The ECB's Vice President, Luis de Guindos, stated that current interest rates are at an "appropriate level," with recent economic data aligning with the bank's forecasts [1] - Eurozone inflation is projected to be 1.9% in 2026, 1.8% in 2027, and rebound to 2.0% in 2028, indicating effective control over inflation expectations [1] Group 2: Economic Growth Projections - Eurozone economic growth is expected to be 1.4% in 2025, higher than previous forecasts, followed by a slowdown to 1.2% in 2026, and a rebound to 1.4% in 2027-2028, with domestic demand as the main growth driver [1] - Consumer expectations for economic growth over the next 12 months have weakened to -1.3%, reflecting cautious market sentiment regarding short-term economic prospects [1] Group 3: Geopolitical Risks and Their Impact - Ongoing geopolitical events, such as the Ukraine conflict and the situation in Venezuela, are critical variables affecting the Eurozone economy, potentially suppressing corporate investment and increasing household savings [2] - The divergence in monetary policy between the Federal Reserve and the ECB may lead to a stronger euro, which could weaken the Eurozone's export competitiveness [2] Group 4: Consumer Expectations - Consumer expectations for nominal income growth remain stable at 1.2%, while consumption growth expectations have slightly decreased to 3.4%, with lower-income groups showing higher consumption expectations than higher-income groups [3] - The unemployment rate expectation for the next 12 months has slightly decreased to 10.9%, indicating a stable labor market that supports economic recovery [3] - Expectations for rising housing prices and mortgage rates have declined, which may dampen activity in the real estate market and become a potential drag on consumption and investment [3]

一、同意中国人寿财产保险股份有限公司蒲江县支公司将营业场所变更为：四川省成都市蒲江县鹤山街 道三湖大道54号1栋2层附201-203号。 二、中国人寿财产保险股份有限公司应按照有关规定及时办理变更及许可证换领事宜。 未尽事项按金融监管总局有关规定办理。 中国人寿 中国人寿 分时图 日K线 周K线 月K线 49.39 0.58 1.19% 2.36% 1.58% 0.78% 0.00% 0.78% 1.58% 2.36% 47.66 48.04 48.43 48.81 49.19 49.58 49.96 09:30 10:30 11:30/13:00 14:00 15:00 0 16万 32万 48万 2026年1月5日，四川金融监管局发布批复称，《关于中国人寿（601628）财产保险股份有限公司蒲江县 支公司变更营业场所的请示》(国寿财险川发〔2025〕97号)收悉。经审核，现批复如下： ...

Core Viewpoint - The introduction of polypropylene monthly average price futures with cash settlement enhances risk management tools for the industry by aligning with the common pricing practices in spot trade [1] Group 1: Cash Settlement Mechanism - Cash settlement means that upon contract expiration, the exchange completes profit and loss settlement through cash transfer rather than physical delivery of goods [1] - The settlement price for polypropylene monthly average price futures is the arithmetic average of the settlement prices of the corresponding physical delivery futures for all trading days in the month prior to the contract month [1] Group 2: Market Functionality - The monthly average price futures financialize the commonly used "monthly average" pricing benchmark in spot trade, filling a gap in the domestic futures market regarding average price management [1] - Plastic processing, modification, and trading companies can lock in or hedge against the average procurement costs of raw materials for future months, mitigating the impact of price volatility on production profits [1] - Upstream refining companies can sell the average price in advance, stabilizing their monthly sales revenue [1] Group 3: Liquidity and Participation - The cash settlement mechanism ensures contract liquidity by eliminating warehouse receipt pressure and delivery default risks, encouraging more financial institutions and quantitative funds to participate [1] - Increased participation enhances the depth and breadth of price discovery in the market [1]