Report Summary 1) Reported Industry Investment Rating - Not provided 2) Core Viewpoint of the Report - The crude oil market is expected to run weakly in the short - term and the intraday period, while remaining volatile in the medium - term [1][5] 3) Summary by Relevant Catalog Price and Market Outlook - The short - term view of crude oil 2602 is volatile, the medium - term view is volatile, the intraday view is weak, and the reference view is weak operation [1] - It is expected that domestic crude oil futures may maintain a weak pattern on Tuesday [5] Core Logic - Recently, there have been signs of compromise in Ukraine, the Russia - Ukraine conflict is expected to cool down, and the US is mediating to end the war, weakening the geopolitical premium and the upward momentum of international oil prices [5] - Saudi Arabia has lowered the price of its main crude oil varieties for Asia to the lowest level in five years, and global crude oil inventories are continuously accumulating, increasing supply pressure in the crude oil market [5] - The weakening of the monthly spread in the crude oil market and the crack spread of refined oil products shows a weak supply - demand structure in the oil market [5]

Group 1: Report Investment Ratings - There is no information about the report industry investment rating in the provided content Group 2: Core Viewpoints - Gold is expected to be strong in the short - term, with a core logic of a weakening macro atmosphere and rising risk - aversion demand [1][3] - Copper is expected to be strong in the long - term, due to a macro - easing environment, mine - end production cuts, and the implementation of interest rate cuts [1][4] Group 3: Summary by Variety Gold (AU) - Short - term view: Strong; Medium - term view: Oscillating; Intraday view: Oscillating and tending to be strong; Overall reference view: Strong in the short - line. The price has been rising since last week, reaching near the $4400 mark on Monday night. After a dovish Fed meeting, the short - term market risk preference and liquidity increased, but on Friday night, the macro atmosphere worsened. The short - term impact of the meeting has been digested, and risk - aversion demand has risen rapidly, so the price may remain strong. Tonight's US non - farm data may affect short - term trends, and the $4400 mark is a technical resistance in the medium - to - long - term [1][3] Copper (CU) - Short - term view: Oscillating; Medium - term view: Strong; Intraday view: Oscillating and tending to be strong; Overall reference view: Strong in the long - line. After the Asian session yesterday, LME copper soared close to $11,900, and SHFE copper opened higher at night, approaching the 94,000 yuan mark. Then the price fell back, and the long - position closing intention was strong. The non - ferrous sector declined, but copper was resilient due to its strong financial properties. The sharp drop last Friday stimulated downstream replenishment demand, and the spot premium in Guangdong increased, indicating actual demand resilience. The short - term price volatility is large, and both sides tend to close positions. Tonight's US non - farm employment data may affect short - term trends, and the 5 - day moving average can be monitored [1][4]

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - China's economic data in November shows a mixed picture. The production side maintains stable growth, while the investment side faces some pressure, and the consumption side shows a slowdown in growth. The overall economy continues to develop steadily with progress [2]. - The metal market has seen significant price fluctuations, with platinum hitting the daily limit, and silver reaching a record high. The supply - demand situation in the aluminum and copper markets is also changing [4][6]. - In the bond market, the overall performance is weak, with bond prices falling and yields rising in some cases. The stock market also shows a downward trend, with A - shares and Hong Kong stocks both experiencing declines [26][34]. 3. Summary by Directory 3.1 Macro Data Quick View - GDP growth in Q3 2025 was 4.8% year - on - year, slightly lower than the previous quarter. The manufacturing PMI in November was 49.2%, and the non - manufacturing PMI was 49.5%, both showing some weakness. Social financing scale increased in November, and M0, M1, and M2 had different year - on - year growth rates. Financial institution RMB loans increased by 390 billion yuan in November. CPI and PPI had different trends, and fixed - asset investment (excluding rural households) decreased by 2.6% year - to - date in November [1]. 3.2 Commodity Investment Reference 3.2.1 Comprehensive - China's economic data in November shows that industrial added value, service production index, and exports increased, while fixed - asset investment and real - estate development investment decreased. The unemployment rate remained stable at 5.1% [2]. - ICBC will strengthen the management of its agency business for individual precious metal trading on the Shanghai Gold Exchange. Multiple futures company branches were punished for violations. The Fed's Williams made predictions about the US economy and inflation [3]. 3.2.2 Metals - Platinum futures hit the daily limit, and some platinum jewelry prices exceeded 700 yuan/gram. The price of lithium iron phosphate cathode materials is expected to rise. The inventory of various metals showed different trends. Silver reached a record high, and its long - term prospects are optimistic. Aluminum supply is expected to increase in 2026, and copper price forecasts were adjusted [4][6][7]. 3.2.3 Coal, Coke, Steel, and Minerals - In November, the output of industrial coal decreased slightly, while the output of crude oil, processed crude oil, and natural gas increased. India allows power plants with excess coal inventory to export coal, and Rio Tinto plans to start a project in Western Australia [8]. 3.2.4 Energy and Chemicals - The National Energy Work Conference plans to increase the installed capacity of wind and solar power in 2026 and layout future energy industries. Russia may extend the diesel export ban, and the trading hours of European natural gas and electricity may be extended [9][11]. 3.2.5 Agricultural Products - The prices of some agricultural products such as soybean meal and corn increased, while the price of peanuts decreased. The US has new pork export sales, and Mexico launched an anti - dumping investigation on some US pork products. Brazil's soybean planting progress is fast, and Egypt has sufficient wheat reserves [12][14][15]. 3.3 Financial News Compilation 3.3.1 Open Market - On December 15, the central bank conducted 130.9 billion yuan of 7 - day reverse repurchase operations, with a net investment of 8.6 billion yuan [16]. 3.3.2 Important News - President Xi Jinping's article emphasizes the importance of expanding domestic demand. China's economic data in November shows that the economy is stable with progress but also faces challenges. The prices of new commercial housing in 70 large and medium - sized cities have different trends. Multiple departments issued policies to promote the development of service outsourcing, and the capital market will implement a series of reform measures [17][18][21]. 3.3.3 Bond Market Summary - The bond market is generally weak, with treasury bond futures falling, bond yields rising, and some corporate bonds such as Vanke's bonds declining. The currency market interest rates show different trends, and the yields of European and US bonds also change [26][29]. 3.3.4 Foreign Exchange Market Express - The on - shore RMB against the US dollar rose, and the US dollar index fell. Non - US currencies mostly rose [30]. 3.3.5 Research Report Highlights - Huatai Fixed Income believes that convertible bonds are not likely to have a deep adjustment for the time being but are difficult to have overall opportunities. Investors should trade with a short - term view. In the bond market, the mainstream view is that it will be volatile and bearish, and the yield curve is expected to steepen [31]. 3.3.6 Today's Reminders - On December 16, a large number of bonds will be listed, issued, paid, and have principal and interest repaid [32]. 3.4 Stock Market Important News - The CSRC clarified the key reform directions of the capital market during the 15th Five - Year Plan. A - shares and Hong Kong stocks both declined, and the trading volume of securities brokerage business has increased significantly this year [33][34].

期货研究报告 宝城期货豆类油脂早报（2025 年 12 月 16 日） 品种观点参考 投资咨询业务资格：证监许可【2011】1778 号 ◼ 主要品种价格行情驱动逻辑—商品期货农产品板块 品种：豆粕（M） 日内观点：震荡偏弱 中期观点：震荡 参考观点：震荡偏弱 核心逻辑：近期豆类市场延续近强远弱格局，豆粕近月 2601 合约驱动来自现货支撑，日照邦基报价 持稳 3060 元/吨，华东基差仍处-150 元高位，国储拍卖溢价成交加剧近月缺货焦虑；远月 2605 增仓 后陷入震荡，美豆成本坍塌，南美大豆到岸成本下降，国内宽松预期强化。后市关注政策调控强度， 若大豆抛储溢价持续，近月仓单问题或延至交割月；基差回归路径，当前 01 合约升水现货 380 元， 短期豆粕期价震荡偏弱，近强远弱难逆转。 备注： 1.有夜盘的品种以夜盘收盘价为起始价格，无夜盘的品种以昨日收盘价为起始价格，当日日盘收盘 价为终点价格，计算涨跌幅度。 2.跌幅大于 1%为弱势，跌幅 0~1%为震荡偏弱，涨幅 0~1%为震荡偏强，涨幅大于 1%为强势。 3.震荡偏强/偏弱只针对日内观点，短期和中期不做区分。 专业研究·创造价值 1 / 3 请务必阅 ...

1. Report Industry Investment Rating - No information provided 2. Core Viewpoints of the Report - The iron ore market is expected to continue its wide - range oscillatory trend, with prices under pressure due to the weakening supply - demand pattern, but supported by unresolved structural contradictions in the spot market [1][2] 3. Summary by Related Contents 3.1 Variety Viewpoint Reference - For the iron ore 2605 contract, the short - term, medium - term, and intraday trends are respectively oscillatory, oscillatory, and weakly oscillatory, with an overall view of wide - range oscillation. The core logic is that the supply - demand pattern has not improved, putting pressure on the ore price [1] 3.2 Market Driving Logic - The supply - demand pattern of iron ore continues to weaken. Terminal consumption of ore is declining, and the weak demand situation is difficult to change due to the poor profitability of steel mills. Meanwhile, port arrivals in China have rebounded significantly, and miners' shipments have reached a new weekly high this year, resulting in a high overall supply. The market fundamentals remain weak, but the unresolved structural contradictions in the spot market support the ore price. The ore price is expected to continue oscillating, and the performance of steel products should be monitored [2]

Group 1: Report Industry Investment Rating - The report does not provide an industry investment rating [1][5] Group 2: Core Viewpoint of the Report - The short - term outlook for Treasury bond futures is to fluctuate and consolidate, with risks and support factors both present. The medium - term view is that the monetary environment is moderately loose, and Treasury bond futures are expected to be well - supported [1][5] Group 3: Summary by Relevant Content Variety Viewpoint Reference - Financial Futures Stock Index Sector - For the TL2603 variety, the short - term view is "fluctuating", the medium - term view is "fluctuating", the intraday view is "weakening", and the overall view is "fluctuating and consolidating". The core logic is that the probability of a short - term interest rate cut is low, while the medium - and long - term easing expectation remains [1] Main Variety Price Market Driving Logic - Financial Futures Stock Index Sector - Yesterday, Treasury bond futures fluctuated and pulled back. The medium - and long - term monetary environment is moderately loose, providing strong support for Treasury bond futures. In the short term, the macro - economic data shows strong resilience, so the urgency for a comprehensive interest rate cut is not high, and the short - term expectation of a comprehensive interest rate cut is low, limiting the upward momentum of Treasury bond futures. Long - term bonds are restricted by the pressure of intensive supply in the first quarter of next year and the continuous improvement of the long - term economic growth outlook, performing relatively weakly. Overall, Treasury bond futures are under pressure and support, and will mainly fluctuate and consolidate in the short term [5]

1. Report Industry Investment Rating - No information provided 2. Core Viewpoints of the Report - For the IH2603 variety, short - term and medium - term trends are expected to be volatile, while the intraday trend is expected to be on the stronger side, with an overall view of volatile and bullish due to the continuous fermentation of policy - positive expectations [1]. - For IF, IH, IC, and IM varieties, the intraday view is bullish, the medium - term view is volatile, and the overall reference view is volatile and bullish. The current macro - economic data shows strong resilience, and the follow - up policy will continue to increase efforts in expanding domestic demand. With the continuous fermentation of policy - positive expectations, the stock market's risk appetite will rise again, and the stock index will be mainly volatile and bullish in the short term [5]. 3. Summary According to Relevant Catalogs 3.1 Variety Viewpoint Reference - Financial Futures Stock Index Sector - For the IH2603 variety, the short - term trend is volatile, the medium - term trend is volatile, the intraday trend is on the stronger side, with a view of volatile and bullish, and the core logic is the continuous fermentation of policy - positive expectations [1]. 3.2 Main Variety Price Market Driving Logic - Financial Futures Stock Index Sector - The varieties include IF, IH, IC, and IM. The intraday view is bullish, the medium - term view is volatile, and the reference view is volatile and bullish. Yesterday, each stock index fluctuated and consolidated. The total stock market turnover was 1.79 trillion yuan, a decrease of 324.6 billion yuan from the previous day. The current macro - economic data shows strong resilience, but the marginal slowdown of investment and consumption growth rates is still worthy of attention. The follow - up policy will continue to increase efforts in expanding domestic demand, and the expectation of macro - policy benefits is strong, which strongly supports the stock index. With the continuous fermentation of policy - positive expectations and the satisfaction of the technical demand for the stock index to fluctuate and consolidate, the stock market's risk appetite will rise again. In general, the stock index will be mainly volatile and bullish in the short term [5].

Report Overview - Report Title: Futures Research Report - Non-ferrous Metals [1][2] - Date: December 15, 2025 [5] Industry Investment Rating - No industry investment rating information provided. Core Views Copper - Friday night, due to weak overseas macro - atmosphere, copper prices dropped sharply by over 3000 yuan/ton, and the trading volume decreased significantly. Today, copper prices stabilized and rebounded to the 92,500 yuan mark. As copper prices fell, the spot premium rose, indicating strong restocking willingness among downstream industries. Short - term copper price trends are dominated by the macro - atmosphere, and continuous attention should be paid to macro changes. Technically, copper stabilized and rebounded above the 10 - day moving average and stood above the 5 - day moving average, and the support of the 5 - day moving average can be continuously monitored [7]. Aluminum - Friday night, due to weak overseas macro - atmosphere, aluminum prices dropped to the 21,600 yuan mark, and the trading volume decreased significantly. Today, aluminum prices stabilized and rebounded to the 21,900 yuan mark, but the trading volume continued to decline, showing strong short - term profit - taking willingness among funds. Short - term aluminum price trends are dominated by the macro - atmosphere, and continuous attention should be paid to macro changes. Technically, the pressure at the 22,000 yuan mark should be monitored [8]. Nickel - Friday night, nickel prices rose and then fell. Today, nickel prices fluctuated within a narrow range, and the trading volume continued to increase. Macroscopically, the non - ferrous metals sector rebounded after reaching the bottom, but nickel prices showed little reaction. Industrially, the high inventory of port nickel ore decreased slowly, and the increase in the inventory of electrolytic nickel on the Shanghai Futures Exchange put pressure on futures prices. In the short term, the multi - empty game in the non - ferrous metals sector has intensified, and nickel is under pressure with increased positions, and is expected to maintain a weak operation [9]. Industry Dynamics Copper - As of December 15, 2025, the average price of SMM flat - copper premium was about 54 yuan/ton, and the average price of SMM1 electrolytic copper premium was about 82 yuan/ton, up 94 yuan/ton and 110 yuan/ton respectively compared with the annual average in 2024. The 2026 long - term order price of domestic trade electrolytic copper in East China increased by over 50 yuan/ton compared with 2025 [11]. Aluminum - On December 15, the social inventory of electrolytic aluminum was 577,000 tons, a decrease of 14,000 tons compared with last Monday [12]. Nickel - On December 15, the price of SMM1 electrolytic nickel was 114,500 - 120,200 yuan/ton, with an average price of 117,350 yuan/ton, a decrease of 850 yuan/ton compared with the previous trading day. The mainstream spot premium of Jinchuan 1 electrolytic nickel was in the range of 5,100 - 5,500 yuan/ton, with an average premium of 5,300 yuan/ton, an increase of 100 yuan/ton compared with the previous trading day. The spot premium of domestic mainstream brand electrowon nickel was in the range of - 100 - 400 yuan/ton [13]. Related Charts Copper - Charts include copper basis, copper monthly spread, domestic visible inventory of electrolytic copper, overseas copper exchange inventory, LME copper cancelled warrant ratio, and SHFE warrant inventory [14][15][16]. Aluminum - Charts include aluminum basis, aluminum monthly spread, domestic social inventory of electrolytic aluminum, overseas exchange inventory of electrolytic aluminum (LME + COMEX), Shanghai - London ratio, and aluminum rod inventory [26][28][30]. Nickel - Charts include nickel basis, nickel monthly spread, SHFE inventory, LME nickel trend, and nickel ore port inventory [49][38][50].

1. Report Industry Investment Rating - No relevant content provided 2. Core Views of the Report - On Monday, the domestic Shanghai rubber futures contract 2605 showed a trend of increasing volume and open interest, fluctuating weakly, and slightly closing lower. The price center of the contract during the session slightly moved down to around 15,200 yuan/ton, and the closing price slightly decreased by 0.20% to 15,200 yuan/ton. The premium of the 1 - 5 month spread widened to 25 yuan/ton. Currently, the domestic rubber market is dominated by supply - demand fundamentals, and rubber prices remain volatile within a range [6]. - On Monday, the domestic methanol futures contract 2605 showed a trend of decreasing volume and increasing open interest, fluctuating stably, and slightly rebounding. The futures price rose to a maximum of 2,138 yuan/ton and dropped to a minimum of 2,084 yuan/ton, and the closing price slightly increased by 1.14% to 2,124 yuan/ton. The discount of the 1 - 5 month spread widened to 50 yuan/ton. Driven by a slight rebound in domestic coal futures prices, methanol futures started to fluctuate and stabilize [7]. - On Monday, the domestic crude oil futures contract 2602 showed a trend of decreasing volume and increasing open interest, fluctuating weakly, and slightly closing lower. The futures price rose to a maximum of 438.5 yuan/barrel and dropped to a minimum of 435.0 yuan/barrel, and the closing price slightly decreased by 0.27% to 437.3 yuan/barrel. The expectation of oversupply once again dominated the market. Saudi Arabia lowered its selling prices in Asia, and a bearish atmosphere prevailed, causing crude oil futures to operate weakly [7]. 3. Summary by Relevant Catalogs 3.1 Industry Dynamics 3.1.1 Rubber - As of December 7, 2025, the total inventory of natural rubber in bonded and general trade in Qingdao was 488,700 tons, a week - on - week increase of 7,200 tons or 1.49%. The bonded area inventory was 73,900 tons, with a growth rate of 2.08%; the general trade inventory was 414,800 tons, with a growth rate of 1.38%. The inbound rate of the bonded warehouses for natural rubber samples in Qingdao increased by 0.79 percentage points, and the outbound rate decreased by 0.60 percentage points; the inbound rate of general trade warehouses decreased by 0.72 percentage points, and the outbound rate increased by 1.02 percentage points [9]. - In the week of December 5, 2025, the capacity utilization rate of China's semi - steel tire sample enterprises was 68.33%, a week - on - week increase of 2.33 percentage points and a year - on - year decrease of 10.59 percentage points; the capacity utilization rate of China's full - steel tire sample enterprises was 64%, a week - on - week increase of 1.25 percentage points and a year - on - year increase of 4.87 percentage points. The capacity utilization rate of sample enterprises recovered this week, but the overall sales pressure remained, and the increase in capacity utilization rate was limited. It is expected that the capacity utilization rate of tire sample enterprises will still have an upward trend in the next cycle, but the increase will be restricted [10]. - In November 2025, the inventory warning index of Chinese automobile dealers was 55.6%, a year - on - year increase of 3.8 percentage points and a month - on - month increase of 3.0 percentage points. The inventory warning index was above the boom - bust line, indicating a decline in the prosperity of the automobile circulation industry. In November, the logistics industry prosperity index was 50.9%, a month - on - month increase of 0.2 percentage points [10]. - In November 2025, about 100,000 heavy - duty trucks were sold in the Chinese market (wholesale basis, including exports and new energy), a month - on - month decrease of about 6% compared with October and a year - on - year increase of about 46% compared with 68,500 vehicles in the same period last year. As of now, the heavy - duty truck market has achieved eight consecutive months of growth, with an average growth rate of up to 42%. From January to November this year, the cumulative sales of the heavy - duty truck market exceeded 1 million vehicles, reaching 1.03 million, a year - on - year increase of about 26% [11]. 3.1.2 Methanol - As of the week of November 28, 2025, the average domestic methanol operating rate was maintained at 84.01%, a slight week - on - week increase of 0.24%, a slight month - on - month increase of 0.13%, and a small increase of 3.53% compared with the same period last year. The average weekly methanol production in China reached 2.0236 million tons, a week - on - week increase of 9,400 tons, a month - on - month increase of 55,500 tons, and a significant increase of 178,400 tons compared with 1.8452 million tons in the same period last year [12]. - As of the week of November 28, 2025, the domestic formaldehyde operating rate was maintained at 31.24%, a slight week - on - week decrease of 0.04%. The operating rate of dimethyl ether was maintained at 5.31%, a slight week - on - week decrease of 0.01%. The acetic acid operating rate was maintained at 72.95%, a week - on - week increase of 6.42%. The MTBE operating rate was maintained at 58.91%, a week - on - week increase of 0.01%. The average operating load of domestic coal - (methanol) to olefin plants was 82.76%, a slight week - on - week increase of 0.09 percentage points and a month - on - month decrease of 1.42% [12]. - As of December 5, 2025, the futures market profit of domestic methanol to olefin was 20 yuan/ton, a week - on - week increase of 67 yuan/ton and a month - on - month decrease of 195 yuan/ton [12]. - As of the week of November 28, 2025, the methanol inventory in ports in East and South China was maintained at 1.1675 million tons, a week - on - week decrease of 76,400 tons, a month - on - month decrease of 115,400 tons, and a significant increase of 165,700 tons compared with the same period last year. As of the week of December 4, 2025, the total inland methanol inventory in China reached 361,500 tons, a week - on - week decrease of 12,200 tons, a month - on - month decrease of 25,000 tons, and a slight decrease of 13,900 tons compared with 375,400 tons in the same period last year [13]. 3.1.3 Crude Oil - As of the week of December 5, 2025, the number of active oil drilling rigs in the United States was 413, a week - on - week increase of 6 and a decrease of 69 compared with the same period last year. The average daily crude oil production in the United States was 13.853 million barrels, a week - on - week increase of 38,000 barrels per day and a significant year - on - year increase of 222,000 barrels per day, reaching a historical high [13]. - As of the week of December 5, 2025, the commercial crude oil inventory in the United States (excluding strategic petroleum reserves) reached 425.7 million barrels, a week - on - week decrease of 1.812 million barrels and a significant year - on - year increase of 3.741 million barrels. The crude oil inventory in Cushing, Oklahoma, reached 21.604 million barrels, a week - on - week increase of 308,000 barrels; the strategic petroleum reserve (SPR) inventory reached 411.9 million barrels, a week - on - week increase of 248,000 barrels. The refinery operating rate in the United States was maintained at 94.5%, a slight week - on - week increase of 0.4 percentage points, a month - on - month increase of 5.1 percentage points, and a small year - on - year increase of 2.1 percentage points [14]. - As of November 18, 2025, the average non - commercial net long positions in WTI crude oil were maintained at 69,176 contracts, a significant week - on - week increase of 8,792 contracts and a significant increase of 9,001 contracts or 14.96% compared with the average in October. As of December 9, 2025, the average net long positions of Brent crude oil futures funds were maintained at 113,859 contracts, a significant week - on - week decrease of 32,588 contracts and a significant decrease of 41,329 contracts or 26.63% compared with the average in November [14]. 3.2 Spot Price Table | Variety | Spot Price (yuan/unit) | Change from Previous Day (yuan/unit) | Futures Main Contract Price (yuan/unit) | Change from Previous Day (yuan/unit) | Basis (yuan/unit) | Change (yuan/unit) | | --- | --- | --- | --- | --- | --- | --- | | Shanghai Rubber | 14,950 | + 100 | 15,200 | - 30 | - 250 | + 30 | | Methanol | 2,107 | + 0 | 2,124 | + 25 | - 17 | - 25 | | Crude Oil | 405.8 | + 0.1 | 437.3 | - 0.3 | - 31.2 | + 0.4 | [15] 3.3 Relevant Charts - Rubber: Charts include rubber basis, 1 - 5 month spread, Shanghai Futures Exchange rubber futures inventory, Qingdao bonded area rubber inventory, full - steel tire operating rate trend, and semi - steel tire operating rate trend [16][18][20][24][26][28]. - Methanol: Charts include methanol basis, 1 - 5 month spread, domestic port inventory, inland social inventory, methanol to olefin operating rate change, and coal - to - methanol cost accounting [29][31][33][35][37][39]. - Crude Oil: Charts include crude oil basis, Shanghai Futures Exchange crude oil futures inventory, US commercial crude oil inventory, US refinery operating rate, WTI crude oil net position holding change, and Brent crude oil net position holding change [41][43][45][47][49][51].

期货研究报告 投资咨询业务资格：证监许可【2011】1778 号 铁矿石到货、发运周度数据（2025 年第 50 周） 一、简评 1、国内 47 港到货量为 2928.10 万吨，环比增 358.90 万吨，大幅回升并至年内高位；增量主要是澳 矿，环比增 289.80 万吨，低位迎来回升；而巴西矿到货增 108.70 万吨，非主流矿环比降 39.60 万吨。 2、海外矿石发运持续回升，全球矿石发运总量为 3592.50 万吨，环比增 223.94 万吨，创下年内单周 新高。增量主要源于巴西矿发运回升，环比增 225.02 万吨；澳矿发运增 85.16 万吨，维持年内高位；非澳 巴矿环比降 86.24 万吨，高位有所回落。 3、按船期推算国内港口澳巴矿到货量迎来回升，海外矿石供应表现积极。 二、矿石到货与发运数据 网址：www.bcqhgs.com 1 地址：杭州市求是路8号公元大厦东南裙楼1-5层 期货研究报告 2、全球铁矿石发运量 3、四大矿商发运量 网址：www.bcqhgs.com 2 地址：杭州市求是路8号公元大厦东南裙楼1-5层 | | | | | | 铁矿石周度到货和发运数据 | | | | | ...