Report Industry Investment Ratings No relevant information provided. Core Views of the Report - The overall market shows a complex trend with different performances in various sectors. In the stock index futures market, the major financial sector leads the upward movement, and the stock index rebounds comprehensively. In the bond market, the short - term uncertainty of treasury bond futures weakens, and the trend is relatively strong. In the precious metals market, gold rises due to factors such as lower - than - expected US inflation and Middle - East geopolitical tensions. In the commodity futures market, different metals and agricultural products have their own supply - demand and price trends [2][5][8]. Summary by Directory Financial Derivatives - Financial Futures Stock Index Futures - **Market Situation**: On Wednesday, major indices opened higher and closed higher. The Shanghai Composite Index rose 0.52% to 3402.32 points. The four major stock index futures contracts also rose, with IF2506 and IH2506 rising 0.89% and 0.79% respectively, and IC2506 and IM2506 rising 0.75% and 0.83% respectively. The large - financial sector strengthened, and the basic metals, insurance, and automobile sectors led the gains, while the daily chemical, port, and pharmaceutical sectors declined [2][3]. - **News**: In domestic news, the Sino - US economic and trade consultation mechanism's first meeting made progress. Overseas, the latest US inflation data remained moderate, with the May CPI rising 2.4% year - on - year and 0.1% month - on - month [3]. - **Operation Suggestion**: The index has stable support below but faces pressure to break through above. It is recommended to sell put options on the CSI 1000 index with an exercise price around 5800 in July to collect option premiums [4]. Treasury Bond Futures - **Market Performance**: Treasury bond futures closed up across the board. The 30 - year, 10 - year, 5 - year, and 2 - year main contracts rose 0.23%, 0.06%, 0.07%, and 0.02% respectively. The yields of major interest - rate bonds in the inter - bank market declined [5]. - **Funding**: The central bank conducted 1640 billion yuan of 7 - day reverse repurchase operations on June 11, with an operating rate of 1.40%. The net withdrawal on the day was 509 billion yuan. The short - term inter - bank market interest rate was slightly affected, and the long - term capital interest rate was slightly higher [5][6]. - **Policy**: The Sino - US economic and trade consultation mechanism's first meeting reached a framework consensus. - **Operation Suggestion**: The short - term uncertainty of treasury bond futures weakens. If there are no sudden changes in trade negotiations this week, the treasury bond futures may continue to fluctuate strongly. In the medium - to - long - term, pay attention to the capital situation in mid - to - late June. Unilateral strategy: appropriately allocate long positions on dips. For the spot - futures strategy, pay attention to the TS2509 contract's positive arbitrage strategy. For the curve strategy, there is more room to steepen the curve in the medium - term [6][7]. Financial Derivatives - Precious Metals - **Market Review**: US inflation growth was lower than expected, and Trump continued to call on the Fed to cut interest rates. The Middle - East situation heated up, driving up the price of gold. The international gold price rose 0.97% to $3355.005 per ounce, while the international silver price showed a different trend, closing at $36.215 per ounce with a 0.85% increase [9][11]. - **Outlook**: In the context of de - dollarization, the long - term upward trend of gold remains unchanged. Currently, trade negotiations and geopolitical conflicts disturb the market. Gold is expected to fluctuate within the range of $3200 - $3400 per ounce in the short - term. It is recommended to continuously sell out - of - the - money gold option straddles to earn time value. For silver, pay attention to the flow of speculative funds [11]. Financial Derivatives - Container Shipping Index (European Line) - **Spot Quotes**: As of June 11, the spot quotes of major shipping companies showed different ranges. The SCFIS European line index rose 0.5% as of June 2, and the SCFI composite index rose 30.68% as of May 30 [13]. - **Fundamentals**: As of June 10, the global container shipping capacity increased by 8.4% year - on - year. The demand in the eurozone and the US showed certain trends in the manufacturing and service sectors [14]. - **Logic**: The futures market fluctuated. The 90 - day tariff freeze period will be extended, which is beneficial to the 08 contract. If shipping companies raise spot prices, the 08 contract may rise. - **Operation Suggestion**: Consider buying the main contract on dips, with the price expected to fluctuate between 1900 - 2200 [14]. Commodity Futures - Non - Ferrous Metals Copper - **Spot**: As of June 11, the average price of SMM electrolytic copper and SMM Guangdong electrolytic copper increased, but the spot trading weakened due to high prices [15]. - **Macro**: The spread between COMEX and LME widened again, and the US continued to replenish copper stocks, which boosted copper prices [15]. - **Supply**: The supply of copper concentrate is expected to be restricted, and the production of refined copper in May increased. It is expected to decrease slightly in June [16]. - **Demand**: The processing and terminal demand of copper showed different trends. The short - term domestic demand has resilience, but the "rush - to - export" demand may lead to pressure on the demand side in Q3 [17]. - **Inventory**: COMEX inventory continued to increase, while domestic inventory decreased slightly [17]. - **Logic**: The combination of "strong reality + weak expectation" makes the copper price fluctuate in the short - term. - **Operation Suggestion**: The main contract is expected to fluctuate between 77000 - 80000 [18]. Zinc - **Spot**: On June 11, the average price of SMM 0 zinc ingots increased, but the spot trading was mediocre [18]. - **Supply**: The supply of zinc ore is expected to be loose, and the production of refined zinc in May decreased slightly and is expected to increase in June [19][20]. - **Demand**: The initial consumption of zinc showed a slight recovery, but the terminal demand was expected to be weak after the peak season [21]. - **Inventory**: Domestic social inventory increased, while LME inventory decreased slightly [22]. - **Logic**: In the medium - to - long - term, zinc is in a supply - loose cycle. The zinc price may maintain a high - level shock or decline. - **Operation Suggestion**: The main contract is expected to fluctuate between 21000 - 23000 [22]. Tin - **Spot**: On June 11, the price of SMM 1 tin increased, and the spot premium remained unchanged. The actual trading was light [23]. - **Supply**: The supply recovery progress was slow, and the supply of tin ore was tight. The ban on tin ore transportation in Thailand may affect the domestic supply [23][25]. - **Demand and Inventory**: The solder开工 rate increased slightly in April, but the demand is expected to be weak in the future. The inventory decreased [24]. - **Logic**: The slow supply recovery and improved macro - sentiment drive up the tin price, but the demand is expected to be weak. - **Operation Suggestion**: Adopt a short - selling strategy after the sentiment stabilizes [25]. Nickel - **Spot**: As of June 11, the average price of SMM1 electrolytic nickel decreased slightly, while the average price of imported nickel increased slightly [26]. - **Supply**: The production of refined nickel is at a relatively high level, and the monthly production is expected to decline slightly [26]. - **Demand**: The demand for electroplating and alloys is relatively stable, but the demand for stainless steel and nickel sulfate is weak [26]. - **Inventory**: Overseas inventory remained high, while domestic social inventory decreased slightly [27]. - **Logic**: The macro - situation is temporarily stable, and the cost support of refined nickel is slightly loose. The medium - term supply is loose, and the short - term market lacks driving force. - **Operation Suggestion**: The main contract is expected to fluctuate between 118000 - 126000 [28]. Stainless Steel - **Spot**: As of June 11, the price of 304 cold - rolled stainless steel increased slightly, and the basis decreased [29]. - **Raw Materials**: The supply of nickel ore was still tight, the price of nickel iron was weak and stable, and the price of chrome iron was weak [29][30]. - **Supply**: The production of stainless steel in June is expected to be slightly higher than that in May, and the overall supply is in an oversupply pattern [30]. - **Inventory**: Social inventory decreased, and the futures inventory decreased [30]. - **Logic**: The stainless steel market is affected by the cost and demand. The short - term supply - demand contradiction still exists, and the market is expected to fluctuate weakly. - **Operation Suggestion**: The main contract is expected to fluctuate between 12400 - 13000 [31]. Lithium Carbonate - **Spot**: As of June 11, the price of battery - grade lithium carbonate increased slightly, while the price of lithium hydroxide decreased slightly [31]. - **Supply**: The supply of lithium carbonate is still at a relatively high level, and the supply pressure is still obvious [32]. - **Demand**: The demand for lithium carbonate is relatively stable, but the downstream is entering the off - season, and the demand may face pressure [32]. - **Inventory**: The overall inventory of lithium carbonate increased last week, with the upstream and trading inventory increasing and the downstream inventory decreasing [33]. - **Logic**: The futures price of lithium carbonate rose due to market sentiment, but the fundamentals have not changed significantly. The short - term market still has pressure. - **Operation Suggestion**: Observe the performance around 62,000 yuan first [34][35]. Commodity Futures - Black Metals Steel - **Spot**: The spot price of steel was stable with a slight increase, and the basis weakened [36]. - **Supply**: The steel production decreased slightly from the high level, and the production of hot - rolled coils increased [36]. - **Demand**: The apparent demand for steel decreased, affected by the off - season and tariffs [37]. - **Inventory**: The steel inventory was approaching the inflection point of accumulation, and the hot - rolled coil inventory increased [38]. - **Cost and Profit**: The cost support of steel was weak, and the profit of different steel products varied [39]. - **View**: The steel price rebounded recently, but the overall demand is expected to be weak. Consider short - selling on rebounds [40]. Iron Ore - **Spot**: The price of mainstream iron ore powder decreased slightly [41]. - **Futures**: The iron ore futures price decreased slightly [41]. - **Basis**: The basis of PB powder was 57 yuan per ton [41]. - **Demand**: The daily average pig iron production decreased slightly, and the blast furnace operating rate decreased [41]. - **Supply**: The global iron ore shipment increased, and the arrival volume at Chinese ports increased [41][42]. - **Inventory**: The port inventory of iron ore decreased, and the steel mill inventory decreased [42]. - **View**: The short - term iron ore price is expected to fluctuate weakly, and the medium - to - long - term is bearish [42]. Coking Coal - **Futures and Spot**: The coking coal futures price fluctuated strongly, while the spot price was weak [43][45]. - **Supply**: The domestic coal mine production decreased slightly, and the Mongolian coal price decline slowed down [45]. - **Demand**: The coking plant operating rate decreased slightly, and the downstream demand still had some resilience [44][46]. - **Inventory**: The coal mine inventory increased, and the downstream inventory was at a medium level [44][46]. - **View**: The coking coal futures price is expected to rebound, but the spot fundamentals are lagging. Adopt an interval operation strategy [45][46]. Coke - **Futures and Spot**: The coke futures price fluctuated strongly, while the spot price was weak [47][48]. - **Supply**: The production of coke decreased slightly, affected by environmental protection [48]. - **Demand**: The demand for coke decreased slightly, and the blast furnace operating rate continued to decline [48]. - **Inventory**: The coking plant inventory increased, the port inventory decreased, and the steel mill inventory decreased [48]. - **View**: The coke futures price is expected to rebound, but the spot fundamentals are still loose. Adopt an interval operation strategy [48]. Ferrosilicon - **Spot**: The price of ferrosilicon in the main production areas was stable [49]. - **Futures**: The ferrosilicon futures price was stable [49]. - **Cost and Profit**: The cost of ferrosilicon was difficult to stabilize, and the profit was negative [49][50]. - **Supply**: The production of ferrosilicon increased, mainly due to the resumption of production in Ningxia [50]. - **Demand**: The demand for ferrosilicon in steelmaking was expected to decline slightly in June, and the non - steel demand was weak [50]. - **View**: The supply - demand contradiction of ferrosilicon increased, and the price is expected to follow the coal price [50]. Manganese Silicon - **Spot**: The price of manganese silicon in the main production areas was stable [51]. - **Futures**: The manganese silicon futures price decreased slightly [51]. - **Cost**: The cost of manganese silicon was relatively high, and the profit was negative [51]. - **Supply**: The production of manganese silicon increased slightly, and the supply pressure still existed [52]. - **Demand**: The demand for manganese silicon in steelmaking decreased slightly, and the overall demand was relatively stable [53][54]. - **View**: The supply pressure of manganese silicon still exists, and the price is expected to follow the coal price [55]. Commodity Futures - Agricultural Products Meal - **Spot Market**: The price of domestic soybean meal increased slightly, and the trading volume increased significantly. The price of rapeseed meal increased slightly, and the trading volume was 4200 tons [56]. - **Fundamentals**: The US may have heavy rainfall, which may affect soybean production. Brazil's soybean production and export are expected to be high [56][57]. - **Market Outlook**: The Sino - US trade negotiation may ease the market sentiment, and the domestic soybean meal price is expected to fluctuate strongly, but be cautious about chasing the rise [57]. Live Pigs - **Spot Situation**: The spot price of live pigs fluctuated slightly, with different trends in different regions [58][59]. - **Market Data**: The profit of live pig breeding varied by scale, and the secondary fattening sales ratio decreased [59]. - **Market Outlook**: The live pig market supply - demand situation improved slightly, but the demand was weak due to hot weather. The market is expected to fluctuate [59]. Corn - **Spot Price**: The price of corn in the northeast and north - central regions increased slightly, and the port price also increased [60]. - **Fundamentals**: The inventory of corn in Guangdong Port decreased, and the inventory in the northern four ports decreased [60][61]. - **Market Outlook**: The price of corn is expected to fluctuate at a high level, affected by the supply - demand situation and the wheat price [61]. Sugar - **Market Analysis**: The global sugar supply is expected to be loose, and the international sugar price is expected to fluctuate weakly. The domestic sugar price is supported by high sales and low inventory, and is expected to fluctuate at a low level [62].

然橡胶产业期现目报 中的信息均来源于被广发期货有限公司认为可靠的已公开资料，但广发明货对这些信息的准确性及完整性不作任何保证。本报告反映研究人员的不同消 分析方法，并不代表广发期货或晨附属机构的立场。在任何情况下，报告内容仅供参考，报告中的信息或所表达的意见并不构成所述品种买卖的出价或润 者据此得资,风险自相,本报告宣布发送给广发期货特定客户及其他专业人士,版权归广发期货所有,未经广发期货书面授 任何形式的发布、复制。如引用、刊发,需注明出处为"广发期货" 知识图强,求实奉献,客户至上,合作共矿 投资咨询业务资格:证监许可【2011】1292号 2025年6月12日 Z0021810 寇帝斯 | 现货价格及基差 | | | | | | | --- | --- | --- | --- | --- | --- | | 品种 | 6月11日 | 6月10日 | 涨跌 | 涨跌幅 | 单位 | | 云南国营全乳胶(SCRWF):上海 | 13750 | 13850 | -100 | -0.72% | | | 全乳基差(切换至2509合约) | -140 | વર્ત | -185 | -411.11% | 元/吨 | ...

曹剑兰 Z0019556 | | | | 期货和现货价格 | | | | | | | --- | --- | --- | --- | --- | --- | | 品种 | 6月10日 | 666B | 张跌 | 涨跌幅 | 单位 | | 原木2507 | 771.0 | 772.0 | -1.0 | -0.13% | | | 原木2509 | 785.5 | 786.5 | -1.0 | -0.13% | | | 原木2511 | 790.5 | 790.5 | 0.0 | 0.00% | | | 7-9价差 | -14.5 | -14.5 | 0.0 | | | | 9-11价差 | -5.0 | -4.0 | -1.0 | | | | 7-11价差 | -19.5 | -18.5 | -1.0 | | | | 07合约基差 | -21.0 | -22.0 | 1.0 | | | | 09合约基差 | -35.5 | -36.5 | 1.0 | | | | 11合约基差 | -40.5 | -40.5 | 0.0 | | 元/立方米 | | 日照港3.9A小辐射松 | 720.0 | 720.0 | 0 | ...

Report Summary Core View The report presents the basis, spot prices, futures prices, basis rates, and historical quantiles of various commodities and financial futures on June 11, 2025, covering multiple sectors such as ferrous metals, non - ferrous metals, precious metals, agricultural products, energy and chemicals, and stock index futures [1]. Summary by Category Ferrous Metals - **Silicon Iron (SF509)**: Spot price is 5528, futures price is 5174, basis is 354, basis rate is 6.84%, and historical quantile is 92.20% [1]. - **Silicon Manganese (SM509)**: Spot price is 5700, futures price is 5542, basis is 158, basis rate is 2.85%, and historical quantile is 51.70% [1]. - **Rebar (RB2510)**: Spot price is 3190, futures price is 3110, basis is 80, basis rate is 2.57%, and historical quantile is 59.60% [1]. - **Hot - Rolled Coil (HC2510)**: Spot price is 3089, futures price is 3033, basis is 56, basis rate is 1.85%, and historical quantile is 56.70% [1]. - **Iron Ore (I2509)**: Spot price (converted price of 62.5% Brazilian mixed powder) is 753, futures price is 745, basis is 8, basis rate is 1.07%, and historical quantile is 45.30% [1]. - **Coke (J2509)**: Spot price (converted price of quasi - first - grade metallurgical coke) is 1357, futures price is 1349, basis is 8, basis rate is 0.60%, and historical quantile is 50.63% [1]. - **Coking Coal (JM2509)**: Spot price (converted price of S1.3 G75 main coking coal) is 838, futures price is 785, basis is 53, basis rate is 6.75%, and historical quantile is 34.50% [1]. Non - Ferrous Metals - **Copper (CU2507)**: Spot price is 79275, futures price is 78880, basis is 395, basis rate is 0.50%, and historical quantile is 77.70% [1]. - **Aluminum (AL2507)**: Spot price is 20160, futures price is 19980, basis is 180, basis rate is 0.90%, and historical quantile is 86.66% [1]. - **Alumina (AO2509)**: Spot price is 3262, futures price is 2886, basis is 376, basis rate is 13.04%, and historical quantile is 90.74% [1]. - **Zinc (ZN2507)**: Spot price is 22090, futures price is 21845, basis is 245, basis rate is 1.12%, and historical quantile is 80.62% [1]. - **Tin (SN2507)**: Spot price is 264800, futures price is 263420, basis is 1380, basis rate is 0.52%, and historical quantile is 82.29% [1]. - **Nickel (NISE07)**: Spot price is 121600, futures price is 121390, basis is 210, basis rate is 0.17%, and historical quantile is 63.54% [1]. - **Stainless Steel (SS2508)**: Spot price is 12870, futures price is 12460, basis is 410, basis rate is 3.29%, and historical quantile is 80.90% [1]. Precious Metals - **Gold (AU2508)**: Spot price is 775.1, futures price is 772.8, basis is - 2.2, basis rate is - 0.29%, and historical quantile is 36.20% [1]. - **Silver (AG2508)**: Spot price is 8887.0, futures price is 8882.0, basis is 5.0, basis rate is 0.06%, and historical quantile is 74.30% [1]. Agricultural Products - **Soybean Meal (M2509)**: Spot price is 3031.0, futures price is 2830, basis is 201.0, basis rate is 7.10%, and historical quantile is 79.60% [1]. - **Soybean Oil (Y2509)**: Spot price is 7960, futures price is 7758.0, basis is 202.0, basis rate is 2.60%, and historical quantile is 26.70% [1]. - **Palm Oil (P2509)**: Spot price is 8490, futures price is 8116.0, basis is 374.0, basis rate is 4.61%, and historical quantile is 65.50% [1]. - **Rapeseed Meal (RM509)**: Spot price is 2629.0, futures price is 2500, basis is 129.0, basis rate is 5.16%, and historical quantile is 11.90% [1]. - **Rapeseed Oil (O1509)**: Spot price is 9380, futures price is 9188.0, basis is 192.0, basis rate is 2.09%, and historical quantile is 59.80% [1]. - **Corn (C2507)**: Spot price is 2380, futures price is 2379.0, basis is 1.0, basis rate is 0.04%, and historical quantile is 48.20% [1]. - **Corn Starch (CS2507)**: Spot price is 2711.0, futures price is 2700, basis is - 11.0, basis rate is - 0.41%, and historical quantile is 9.20% [1]. - **Live Hogs (LH2509)**: Spot price is 14050, futures price is 13595.0, basis is 455.0, basis rate is 3.35%, and historical quantile is 52.30% [1]. - **Eggs (JD2507)**: Spot price is 2833.0, futures price is 2650, basis is 183.0, basis rate is 6.46%, and historical quantile is 15.90% [1]. - **Cotton (CF509)**: Spot price is 14644, futures price is 13520.0, basis is 1124.0, basis rate is 8.31%, and historical quantile is 78.50% [1]. - **Sugar (SR509)**: Spot price is 6170, futures price is 5717.0, basis is 453.0, basis rate is 7.92%, and historical quantile is 82.60% [1]. - **Apples (AP510)**: Spot price is 8600, futures price is 7523.0, basis is 1077.0, basis rate is 14.32%, and historical quantile is 74.80% [1]. - **Red Dates (CJ509)**: Spot price is 8995.0, futures price is 8300, basis is - 695.0, basis rate is - 7.73%, and historical quantile is 65.50% [1]. Energy and Chemicals - **Para - Xylene (PX509)**: Spot price is 6777.2, futures price is 6502.0, basis is 275.2, basis rate is 4.23%, and historical quantile is 93.30% [1]. - **PTA (TA509)**: Spot price is 4865.0, futures price is 4612.0, basis is 253.0, basis rate is 5.49%, and historical quantile is 84.30% [1]. - **Ethylene Glycol (EG2509)**: Spot price is 4365.0, futures price is 4269.0, basis is 96.0, basis rate is 2.25%, and historical quantile is 89.90% [1]. - **Polyester Staple Fiber (PF507)**: Spot price is 6500.0, futures price is 6358.0, basis is 142.0, basis rate is 2.23%, and historical quantile is 77.40% [1]. - **Styrene (EB2507)**: Spot price is 7505.0, futures price is 7346.0, basis is 159.0, basis rate is 2.16%, and historical quantile is 58.90% [1]. - **Methanol (MA509)**: Spot price is 2380.0, futures price is 2276.0, basis is 104.0, basis rate is 4.57%, and historical quantile is 79.30% [1]. - **Urea (UR509)**: Spot price is 1760.0, futures price is 1678.0, basis is 82.0, basis rate is 4.89%, and historical quantile is 37.00% [1]. - **LLDPE (L2509)**: Spot price is 7175.0, futures price is 7106.0, basis is 69.0, basis rate is 0.97%, and historical quantile is 38.20% [1]. - **PP (PP2509)**: Spot price is 7130.0, futures price is 6941.0, basis is 189.0, basis rate is 2.72%, and historical quantile is 67.80% [1]. - **PVC (V2509)**: Spot price is 4810.0, futures price is 4700.0, basis is 110.0, basis rate is 2.29%, and historical quantile is 49.90% [1]. - **Caustic Soda (SH509)**: Spot price is 2750.0, futures price is 2324.0, basis is 426.0, basis rate is 18.33%, and historical quantile is 88.20% [1]. - **LPG (PG2507)**: Spot price is 4548.0, futures price is 4119.0, basis is 429.0, basis rate is 10.42%, and historical quantile is 61.10% [1]. - **Asphalt (BU2509)**: Spot price is 3710.0, futures price is 3483.0, basis is 227.0, basis rate is 6.52%, and historical quantile is 85.40% [1]. - **Butadiene Rubber (BR2507)**: Spot price is 11600.0, futures price is 11230.0, basis is 370.0, basis rate is 3.29%, and historical quantile is 68.30% [1]. - **Glass (FG509)**: Spot price is 1032.0, futures price is 995.0, basis is 37.0, basis rate is 3.59%, and historical quantile is 76.00% [1]. - **Soda Ash (SA509)**: Spot price is 1254.0, futures price is 1208.0, basis is 46.0, basis rate is 3.67%, and historical quantile is 44.84% [1]. - **Natural Rubber (RU2509)**: Spot price is 13850.0, futures price is 13805.0, basis is 45.0, basis rate is 0.32%, and historical quantile is 97.95% [1]. Stock Index Futures - **IF2506.CFE**: Spot price (implied) is 3865.5, futures price is 3841.0, basis is - 24.5, basis rate is - 0.64%, and historical quantile is 11.90% [1]. - **IH2506.CFE**: Spot price (implied) is 2676.4, futures price is 2660.0, basis is - 16.4, basis rate is - 0.62%, and historical quantile is 30.20% [1]. - **IC2506.CFE**: Spot price (implied) is 5758.0, futures price is 5718.2, basis is - 39.8, basis rate is - 0.70%, and historical quantile is 10.00% [1]. - **IM2506.CFE**: Spot price (implied) is 6161.7, futures price is 6113.8, basis is - 47.9, basis rate is - 0.78%, and historical quantile is 26.00% [1]. - **TS2509**: Spot price (implied) is 102.44, futures price is 100.28, basis is - 0.07, basis rate is - 0.07%, and historical quantile is 24.30% [1]. - **TF2509**: Spot price (implied) is 106.12, futures price is 101.02, basis is - 0.02, basis rate is - 0.02%, and historical quantile is 40.70% [1]. - **T2509**: Spot price (implied) is 108.98, futures price is 107.61, basis is 0.20, basis rate is 0.19%, and historical quantile is 55.20% [1]. - **TL2509**: Spot price (implied) is 135.91, futures price is 120.16, basis is 0.39, basis rate is 0.32%, and historical quantile is 55.20% [1]. Industry Investment Rating No industry investment rating is provided in the report.

| *业期现日报 | | | | | | | --- | --- | --- | --- | --- | --- | | 投资咨询业务资格:证监许可 【2011】1292号 2025年6月11日 | | | | 林嘉施 | Z0020770 | | 价格及基差 | | | | | | | | 现值 | 前值 | 日 涨跌 | 日 | 单位 | | SMM 1#电解销 | 122800 | 123900 | -1100 | -0.89% | 7C/HT | | 1#金川镇 | 123900 | 125000 | -1100 | -0.88% | 元/吨 | | 1#金川镍升贴水 | 2400 | 2400 | 0 | 0.00% | 元/吨 | | 1#进口镇 | 121600 | 122700 | -1100 | -0.90% | 元/吨 | | 1#进口镍升贴水 | 100 | 100 | 0 | - | 元/肥 | | LME 0-3 | -189 | -180 | -a | 4.96% | 美元/吨 | | 期货进口盈亏 | -3024 | -3476 | 452 | -13.00% | 元/吨 | | ...

欢迎关注微信公众号 主力合约 品种 点评 操作建议 板块 指数下方支撑较稳定,上方突破压力犹存,关税谈 II-2506 判仍在继续博弈,指数短期受消息面影响波动,可 IH2506 TMT集体受挫,A股低走回调 股指 IC2506 卖出中证1000指数7月执行价5800附近看跌期权 IM2506 收取权利金。 单边策略上,当10年和30年利率波动至1.7%、 1.9%以上时可以适当配置国债期货多单。期现策 目前来看债市仍未脱离区间震荡,但近期由于央行阿护资金面 12509 略上建议适当关注TS2509合约正套策略。曲线策 TF2509 利多因素相对增加,期债上行的概率有一定提升,目前预计波 国债 略上,鉴于当前曲线平坦,中期来看做陡的空间更 TS2509 动区间10年期国债利率可能在1.60%-1.75%,30年国债利率 大,边际驱动上,如果央行重启买债或资金利率突 金融 可能在1.80%-1.95%。关注中美关税谈判。 TL2509 破下行短债利率下方空间打开,或有波段做陡机会 出现。 黄金短期维持区间震荡期间仍有脉冲式波动可能, 美官员表示中美贸易磋商进展顺利 市场等待新驱动贵金属波动 建议参考波动率逢高做 ...

| 投资咨询业务资格:证监许可 [2011] 1292号 | 材产业期现日报 | | | | | | --- | --- | --- | --- | --- | --- | | 2025年6月11日 | | | 問敏波 | Z0010559 | | | 钢材价格及价差 | | | | | | | 品种 | 现值 | 前值 | 涨跌 | 其差 | 单位 | | 螺纹钢现货(华东) | 3110 | 3110 | O | 140 | | | 螺纹钢现货(华北) | 3200 | 3200 | 0 | 230 | | | 螺纹钢现货(华南) | 3220 | 3220 | 0 | 250 | | | 螺纹钢05合约 | 2973 | 2980 | -7 | 137 | | | 螺纹钢10合约 | 2974 | 2981 | -7 | 136 | | | 螺纹钢01合约 | 2970 | 2979 | -d | 140 | | | 热卷现货(华东) | 3190 | 3200 | -10 | 105 | アロ/『屯 | | 热卷现货 (华北) | 3120 | 3120 | 0 | 35 | | | 热卷现货(华南) ...

广发早知道-汇总版 广发期货研究所 电 话：020-88830760 E-Mail：zhaoliang@gf.com.cn 目录： 金融衍生品： 金融期货： 股指期货、国债期货 贵金属： 黄金、白银 集运指数 商品期货： 有色金属： 铜、锌、镍、不锈钢、锡、碳酸锂 黑色金属： 钢材、铁矿石、焦煤、焦炭、铁合金 农产品： 油脂、粕类、玉米、生猪、白糖、棉花、鸡蛋、花生、红枣、苹果 能源化工： 原油、PTA、乙二醇、苯乙烯、短纤、尿素、瓶片、烧碱、PVC、LLDPE、 PP 特殊商品： 橡胶、玻璃纯碱、工业硅、多晶硅 2025 年 6 月 11 日星期三 投资咨询业务资格： 证监许可【2011】1292 号 组长联系信息： 张晓珍（投资咨询资格：Z0003135） 电话：020- 88818009 邮箱：zhangxiaozhen@gf.com.cn 刘珂（投资咨询资格：Z0016336） 电话：020-88818026 邮箱：qhliuke@gf.com.cn 叶倩宁（投资咨询资格：Z0016628） 电话：020- 88818017 邮箱：yeqianning@gf.com.cn 周敏波（投资咨询资格：Z00 ...

| | 然橡胶产业期现日报 | | | | | | --- | --- | --- | --- | --- | --- | | | | 投资咨询业务资格:证监许可【2011】1292号 | | | | | | | 2025年6月11日 | | 越常勤 | Z0021810 | | | | 现货价格及基差 | | | | | eHaH | | 命神 6月10日 | 涨跌 | 涨跌幅 | 单位 | | 13650 | | 云南国富关部 胶(SCRWF): 下海 13850 | 200 | 1.47% | | | -75 | | 全乳基差(切换至2509合约) 45 | 120 | 160.00% | 元/吨 | | 13650 | | 泰标混合胶报价 13750 | 100 | 0.73% | | | -75 | | 非标价差 -ટેર | 20 | 26.67% | | | 45.20 | | 杯胶:国际市场:FOB中间价 46.20 | 1.00 | 2.21% | 泰铢/公斤 | | 56.00 | | 胶水:国际市场:FOB中间价 56.25 | 0.25 | 0.45% | | | 12200 | | ...

o eo 2025-05-09 2025-01-09 2025-03-09 2025-04-09 2025 - TS00-TS01 — TS00-TS02 — TS01-TS02 TL跨期价差 -0. AH 2025-04-09 2025-05-09 2025-01-09 2025-02-09 2025-03-09 | 股指期货价差日报 | | --- | | 投资咨询业务资格:证监许可【2011】1292号 Z0016628 叶倩宁 | | 价差 品种 最新值 较前一日变化 历史1年分位数 | | F期现价差 -24.47 -7.02 25.00% 17.40% | | 期现价差 IC期现价差 -39.79 -0.54 30.20% | | 26.20% | | 次月-当月 -36.80 -1.20 6.50% 8.80% | | 李月-崇月 -67.20 -1.80 12.70% 16.00% 元月-当月 -95.80 2.00 15.90% 19.70% | | IF跨期价差 李月-次月 -30.40 -0.60 14.30% 21.50% | | 元月-次月 -59.00 3.20 33.10% 26 ...