| 粕类产业期现日报 | 投资咨询业务资格:证监许可 【2011】1292号 | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 朱迪 | Z0015979 | 2025年4月22日 | | | | | | | | | | | 豆粕 | 现值 | 涨跌幅 | 前值 | 涨跌 | | | | | | | | | 3220 | 230 | 现价 | 3450 | 7.14% | 江苏豆粕 | 期价 | M2509 | 3045 | 3021 | 24 | 0.79% | | 墓差 | M2509 | 199 | 206 | 103.52% | 405 | 现货基差报价 | 广东现货墓差 | m2505+420 | m2505+250 | - | - | | 盘面进口榨利 | 美湾5月船期 | - | - | - | - | 223 | 盘面讲口榨利 | 巴西6月船期 | 205 | 8.8% | 18 | | 仓单 | 10600 | 10600 | 0 | 0.0% | ...

原木期货日报 证监许可 【2011】1292号 2025年4月22日 曹剑兰 Z0019556 | 期货和现货价格 | | | | | | | --- | --- | --- | --- | --- | --- | | 品种 | 4月21日 | 4月20日 | 张跌 | 涨跌幅 | 单位 | | 原木2507 | 811.5 | 822.0 | -10.5 | -1.28% | | | 原木2509 | 825.5 | 836.5 | -11.0 | -1.32% | | | 原木2511 | 832.5 | 840.0 | -7.5 | -0.89% | | | 7-9价差 | -14.0 | -14.5 | 0.5 | | | | 9-11价差 | -7.0 | -3.5 | -3.5 | | | | 7-11价差 | -21.0 | -18.0 | -3.0 | | | | 07合约基差 | -21.5 | -32.0 | 10.5 | | | | 09合约基差 | -35.5 | -46.5 | 11.0 | | | | 11合约基差 | -42.5 | -50.0 | 7.5 | | 元/立方米 | ...

广发早知道-汇总版 投资咨询业务资格： 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 4 月 22 日星期二 证监许可【2011】1292 号 组长联系信息： 【市场情况】 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 ...

Report Summary 1. Report Industry Investment Rating - There is no information about the industry investment rating in the provided content. 2. Core View of the Report - The report presents the spot prices, historical quantiles, basis, basis rates, and futures prices of various commodities and financial instruments on April 22, 2025, including ferrous metals, non - ferrous metals, precious metals, agricultural products, energy and chemical products, and stock index futures and bond futures [1]. 3. Summary by Categories Ferrous Metals - **Silicon Iron (SF506)**: Spot price is 5978, historical quantile is 87.50%, basis is 252, basis rate is 4.40%, and futures price is 5726 [1]. - **Silicon Manganese (SM509)**: Spot price is 6000, historical quantile is 39.40%, basis is 80, basis rate is 1.35%, and futures price is 5920 [1]. - **Rebar (RB2510)**: Spot price is 3180, historical quantile is 41.70%, basis is 67, basis rate is 2.15%, and futures price is 3113 [1]. - **Hot - Rolled Coil (HC2510)**: Spot price is 3260, historical quantile is 40.90%, basis is 51, basis rate is 1.59%, and futures price is 3209 [1]. - **Iron Ore (I2509)**: Spot price is 800, historical quantile is 62.10%, basis is 84, basis rate is 11.77%, and futures price is 716 [1]. - **Coke (J2509)**: Spot price is 1574, historical quantile is 24.29%, basis is - 43, basis rate is - 2.76%, and futures price is 1531 [1]. - **Coking Coal (JM2509)**: Spot price is 1058, historical quantile is 57.20%, basis is 101, basis rate is 10.61%, and futures price is 957 [1]. Non - Ferrous Metals - **Copper (CU2506)**: Spot price is 76550, historical quantile is 5.41%, basis is - 740, basis rate is - 0.96%, and futures price is 77290 [1]. - **Aluminum (AL2506)**: Spot price is 19910, historical quantile is 62.70%, basis is 40, basis rate is 0.20%, and futures price is 19870 [1]. - **Alumina (AO2509)**: Spot price is 2880, historical quantile is 48.87%, basis is 57, basis rate is 2.01%, and futures price is 2823 [1]. - **Zinc (ZN2506)**: Spot price is 22470, historical quantile is 56.25%, basis is 75, basis rate is 0.33%, and futures price is 22395 [1]. - **Tin (SN2505)**: Spot price is 259700, historical quantile is 4.79%, basis is - 3440, basis rate is - 1.31%, and futures price is 263140 [1]. - **Stainless Steel (SS2506)**: Spot price is 13320, historical quantile is 91.64%, basis is 530, basis rate is 4.14%, and futures price is 12790 [1]. - **Industrial Silicon (SI2505)**: Spot price is 10100, historical quantile is 51.15%, basis is 645, basis rate is 6.82%, and futures price is 9455 [1]. - **Lithium Carbonate (LC2507)**: Spot price is 70850, historical quantile is 67.45%, basis is 1850, basis rate is 2.68%, and futures price is 69000 [1]. Precious Metals - **Gold (AU2506)**: Spot price is 805.1, historical quantile is 63.80%, basis is - 1.2, basis rate is - 0.15%, and futures price is 803.9 [1]. - **Silver (AG2506)**: Spot price is 8227.0, historical quantile is 35.20%, basis is - 20.0, basis rate is - 0.24%, and futures price is 8247.0 [1]. Agricultural Products - **Soybean Meal (M2509)**: Spot price is 395.0, historical quantile is 65.10%, basis is 50.5, basis rate is 12.97%, and futures price is 344.5 [1]. - **Soybean Oil (Y2509)**: Spot price is 8070, historical quantile is 42.90%, basis is 348.0, basis rate is 4.51%, and futures price is 7722.0 [1]. - **Palm Oil (P2509)**: Spot price is 8890, historical quantile is 80.70%, basis is 822.0, basis rate is 10.19%, and futures price is 8068.0 [1]. - **Rapeseed Meal (RM509)**: Spot price is 2470, historical quantile is 5.00%, basis is - 161.0, basis rate is - 6.12%, and futures price is 2631.0 [1]. - **Rapeseed Oil (OI509)**: Spot price is 9280.0, historical quantile is 26.60%, basis is 60.0, basis rate is 0.65%, and futures price is 9340 [1]. - **Corn (C2507)**: Spot price is 2220, historical quantile is 11.90%, basis is - 82.0, basis rate is - 3.56%, and futures price is 2302.0 [1]. - **Corn Starch (CS2507)**: Spot price is 2630, historical quantile is 7.20%, basis is - 22.0, basis rate is - 0.83%, and futures price is 2652.0 [1]. - **Live Hogs (LH2509)**: Spot price is 14900, historical quantile is 54.80%, basis is 345.0, basis rate is 2.37%, and futures price is 14555.0 [1]. - **Eggs (JD2506)**: Spot price is 423.0, historical quantile is 58.70%, basis is 13.88%, and futures price is 3470 [1]. - **Cotton (CF509)**: Spot price is 14072, historical quantile is 81.10%, basis is 9.00%, and futures price is 12910.0 [1]. - **Sugar (SR509)**: Spot price is 6240, historical quantile is 57.90%, basis is 235.0, basis rate is 3.91%, and futures price is 6005.0 [1]. - **Apples (AP510)**: Spot price is 7922.0, historical quantile is 6.80%, basis is - 322.0, basis rate is - 4.06%, and futures price is 7600 [1]. - **Red Dates (CJ509)**: Spot price is 8300, historical quantile is 55.30%, basis is - 1140.0, basis rate is - 12.08%, and futures price is 9440.0 [1]. Energy and Chemical Products - **Para - Xylene (PX509)**: Spot price is 6110.0, historical quantile is 64.00%, basis is 106.1, basis rate is 1.74%, and futures price is 6216.1 [1]. - **PTA (TA509)**: Spot price is 4350.0, historical quantile is 51.10%, basis is 0.0, basis rate is 0.00%, and futures price is 4350.0 [1]. - **Ethylene Glycol (EG2505)**: Spot price is 4205.0, historical quantile is 53.30%, basis is - 25.0, basis rate is - 0.59%, and futures price is 4180.0 [1]. - **Polyester Staple Fiber (PF506)**: Spot price is 6010.0, historical quantile is 89.40%, basis is 270.0, basis rate is 4.49%, and futures price is 6280.0 [1]. - **Styrene (EB2506)**: Spot price is 7525.0, historical quantile is 67.10%, basis is 210.0, basis rate is 2.87%, and futures price is 7315.0 [1]. - **Methanol (MA509)**: Spot price is 2275.0, historical quantile is 88.70%, basis is 135.0, basis rate is 5.93%, and futures price is 2410.0 [1]. - **Urea (UR509)**: Spot price is 1760.0, historical quantile is 38.30%, basis is 90.0, basis rate is 5.11%, and futures price is 1850.0 [1]. - **LLDPE (L2509)**: Spot price is 7500.0, historical quantile is 88.50%, basis is 317.0, basis rate is 4.41%, and futures price is 7183.0 [1]. - **PP (PP2509)**: Spot price is 7315.0, historical quantile is 71.50%, basis is 203.0, basis rate is 2.85%, and futures price is 7112.0 [1]. - **PVC (V2509)**: Spot price is 5045.0, historical quantile is 24.00%, basis is - 225.0, basis rate is - 4.46%, and futures price is 4820.0 [1]. - **Caustic Soda (SH202)**: Spot price is 2593.8, historical quantile is 75.70%, basis is 163.8, basis rate is 6.74%, and futures price is 2430.0 [1]. - **LPG (PG2506)**: Spot price is 4375.0, historical quantile is 87.30%, basis is 773.0, basis rate is 17.67%, and futures price is 5148.0 [1]. - **Asphalt (BU2506)**: Spot price is 3450.0, historical quantile is 74.60%, basis is 101.0, basis rate is 3.02%, and futures price is 3349.0 [1]. - **Butadiene Rubber (BR2505)**: Spot price is 11700.0, historical quantile is 80.20%, basis is 505.0, basis rate is 4.51%, and futures price is 11195.0 [1]. - **Glass (FG509)**: Spot price is 1130.0, historical quantile is 63.44%, basis is - 2.0, basis rate is - 0.18%, and futures price is 1128.0 [1]. - **Soda Ash (SA509)**: Spot price is 1340.0, historical quantile is 12.60%, basis is - 41.0, basis rate is - 3.16%, and futures price is 1299.0 [1]. - **Natural Rubber (RU2509)**: Spot price is 14500.0, historical quantile is 81.66%, basis is - 295.0, basis rate is - 2.03%, and futures price is 14795.0 [1]. Financial Futures - **Stock Index Futures** - **CSI 300 (IF2506)**: Spot price is 3912.8, historical quantile is 75.60%, basis is - 5.4, basis rate is - 0.14%, and futures price is 3918.2 [1]. - **SSE 50 (IH2506)**: Spot price is 2652.8, historical quantile is 7.30%, basis is 21.4, basis rate is 0.81%, and futures price is 2631.4 [1]. - **CSI 500 (IC2506)**: Spot price is 5840.7, historical quantile is 56.70%, basis is - 18.1, basis rate is - 0.31%, and futures price is 5822.6 [1]. - **CSI 1000 (IM2506)**: Spot price is 5952.6, historical quantile is 2.70%, basis is - 182.6, basis rate is - 3.17%, and futures price is 5770.0 [1]. - **Bond Futures** - **2 - Year Bond (TS2506)**: Spot price is 102.39, historical quantile is 4.00%, basis is - 0.19, basis rate is - 0.18%, and futures price is 102.58 (converted) [1]. - **5 - Year Bond (TF2506)**: Spot price is 106.09, historical quantile is 21.70%, basis is - 0.04, basis rate is - 0.04%, and futures price is 106.13 (converted) [1]. - **10 - Year Bond (T2506)**: Spot price is 108.79, historical quantile is 10.10%, basis is - 0.07, basis rate is - 0.06%, and futures price is 108.86 (converted) [1]. - **30 - Year Bond (TL2506)**: Spot price is 136.50, historical quantile is 21.30%, basis is 0.15, basis rate is 0.13%, and futures price is 136.35 (converted) [1].

| 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 | 2025年4月21日 | 品种 | 最新值 | 历史1年分位数 | 全历史分位数 | | | | | | | | | | | 价差 | 较前一日变化 | F期现价差 | -63.72 | -2.10 | 3.20% | 3.50%6 | | | | | | | | | | | H期现价差 | -24.24 | 8.60% | 2.06 | 4.80% | 期现价差 | -160.72 | IC期现价差 | -154.91 | 0.40% | 0.20% | -3.92 | IM期现价去 | -189.69 | 60.00% | 2.10% | | 次月-当月 | -27.40 | 0.20 | 11.00% | 14.40% | 李月-崇月 | ...

| 油脂产业期现日报 | | --- | | 投资咨询业务资格:证监许可 【2011】1292号 Z0019938 王涛辉 2025年4月21日 | | 原田 | | 4月18日 4月17日 涨跌 涨跌幅 | | 现价 江苏一级 8140 8110 30 0.37% | | 期价 Y2509 7726 7768 -42 -0.54% | | 墓差 Y2509 414 342 72 21.05% | | 现货墓差报价 江苏4月 05+380 05+380 0 - | | 仓单 735 735 0 0.00% | | 棕榈油 | | 4月18日 4月17日 涨跌 涨跌幅 | | 现价 广东24度 9100 9150 -20 -0.55% | | 期价 P2509 8582 8720 -138 -1.58% | | 墓差 P2509 518 430 88 20.47% | | 现货墓差报价 广东4月 05 + 500 05+530 -30 - | | 盘面进口成本 广州港5月 9186.3 9324.7 -138.4 -1.48% | | -604 盘面进口利润 广州港5月 -605 0 0.07% | | 仓单 ...

| 业硅产业期现日报 | | | | | | | --- | --- | --- | --- | --- | --- | | 投资咨询业务资格:证监许可 [2011] 1292号 | | | | | | | 2025年4月21日 | | | | 纪元菲 | Z0013180 | | 现货价格及主力合约基差 | | | | | | | 市和 | 4月18日 | 4月17日 | 涨跌 | 涨跌幅 | 单位 | | 华东通氧S15530工业硅 | 9850 | 0066 | -50 | -0.51% | | | 基美(通氢SI5530基准) | 1130 | 882 | 245 | 27.68% | | | 华东SI4210工业硅 | 10650 | 10700 | -50 | -0.47% | 元/肥 | | 基差(SI4210基准) | 1130 | 882 | 245 | 27.68% | | | 新疆99硅 | 9100 | 9200 | -100 | -1.09% | | | 基差(新疆) | 1180 | 885 | Jac | 19.80% | | | 月间价差 | | | | | | | 合约 | ...

| 期货和现货价格 | | | | | | | --- | --- | --- | --- | --- | --- | | 品种 | 4月18日 | 4月17日 | 张跌 | 涨跌幅 | 单位 | | 原木2507 | 822.0 | 826.5 | -4.5 | -0.54% | | | 原木2509 | 836.5 | 841.0 | -4.5 | -0.54% | | | 原木2511 | 840.0 | 845.0 | -5.0 | -0.59% | | | 7-9价差 | -14.5 | -14.5 | 0.0 | | | | 9-11价差 | -3.5 | -4.0 | 0.5 | | | | 7-11价差 | -18.0 | -18.5 | 0.5 | | | | 07合约基差 | -32.0 | -36.5 | 4.5 | | | | 09合约基差 | -46.5 | -51.0 | 4.5 | | | | 11合约基差 | -50.0 | -55.0 | 5.0 | | 元/立方米 | | 日照港3.9A小辐射松 | 740.0 | 740.0 | 0 | 0.00% | | | 日照港3. ...

| 钢材产业期现日报 | | | | | | | --- | --- | --- | --- | --- | --- | | 投资咨询业务资格:证监许可 [2011] 1292号 2025年4月21日 | | | 問敏波 | Z0010559 | | | 钢材价格及价差 | | | | | | | 品种 | 现值 | 即值 | 涨跌 | 其差 | 单位 | | 螺纹钢现货(华东) | 3140 | 3160 | -20 | 29 | | | 螺纹钢现货(华北) | 3160 | 3180 | -20 | 49 | | | 螺纹钢现货(华南) | 3220 | 3220 | O | 109 | | | 螺纹钢05合约 | 3003 | 3022 | -19 | 137 | | | 螺纹钢10合约 | 3076 | 3092 | -16 | 64 | | | 螺纹钢01合约 | 3111 | 3131 | -20 | 29 | 元/吨 | | 热卷现货(华东) | 3210 | 3220 | -10 | 3 | | | 热卷现货(华北) | 3190 | 3200 | -10 | -17 | | | 热卷现货(华 ...

Report Industry Investment Rating No relevant information provided. Core Viewpoints - Urea: High inventory pressure on the supply side persists, compound fertilizer production weakens during the off - season, and raw coal prices decline, limiting upward price movement. There may be local trading recoveries after price drops, but the price center still faces downward pressure. Attention should be paid to the marginal changes in domestic summer fertilizer preparation [1]. - PVC and caustic soda: For caustic soda, there is a marginal improvement in supply - demand with inventory reduction, and 5 - 9 positive spread opportunities are worth noting. For PVC, the supply - demand contradiction is not prominent during the maintenance period, but the long - term oversupply problem is difficult to improve, and short - term cautious operation is recommended [24][25]. - Polyester industry chain: Under the background of US tariff policies, terminal demand is significantly negative. PX has a regression expectation in supply, but there may be unplanned maintenance. Each product in the industry chain has different supply - demand situations and corresponding trading strategies [29]. - Crude oil: The international oil price is affected by demand concerns and geopolitical factors. The short - term signal is unclear, and it is recommended to wait and see. Given the price fluctuation ranges for WTI, Brent, and SC [33]. - Polyolefins: For LLDPE, the supply - demand pressure is high in April, and the impact of China's tariff countermeasures is limited. For PP, the short - term supply is impacted by the propane tariff, and the long - term downstream demand is negative [40]. - Styrene: Crude oil is under pressure in the medium - term, and the pure benzene market is weak. Styrene is in a seasonal de - stocking stage, but the demand may face negative feedback in the medium - term. It is recommended to short at high levels [45]. Summary by Directory Urea - **Futures prices**: On April 18, compared with April 17, the prices of 01, 05, 09 contracts and the methanol main contract all increased, with the methanol main contract rising by 1.25% [1]. - **Futures contract spreads**: The spreads of 01 - 05, 05 - 09, 09 - 01 contracts and UR - MA main contract changed, with the 01 - 05 contract spread rising by 12.00% [1]. - **Main positions**: The long and short positions of the top 20 increased, with the long positions rising by 8.20% and the short positions rising by 8.50%. The single - sided trading volume increased by 46.62% [1]. - **Upstream raw materials**: Most upstream raw material prices remained stable, with the price of动力煤港口(秦皇岛) dropping by 0.74% [1]. - **Spot market prices**: Some spot market prices declined, such as the price of山东(小颗粒) dropping by 1.07% [1]. - **Supply - demand situation**: The daily and weekly production of domestic urea decreased, the plant - level inventory increased, and the port inventory decreased [1]. PVC and Caustic Soda - **Spot and futures prices**: The prices of some caustic soda and PVC products changed. For example, the price of山东32%液碱折百价 increased by 62.5, and the price of华东电石法PVC市场价 remained unchanged [24]. - **Overseas quotes and export profits**: The overseas quotes of caustic soda and PVC and their export profits changed. For example, the FOB East China port price of caustic soda decreased by 10.0 [24]. - **Supply and demand**: The caustic soda industry's operating rate decreased slightly, and the PVC total operating rate remained stable. The downstream operating rates of both decreased [24][25]. - **Inventory**: The inventories of caustic soda and PVC decreased to varying degrees [25]. Polyester Industry Chain - **Product prices**: The prices of downstream polyester products and upstream raw materials changed. For example, the POY150/48 price decreased by 0.2%, and the Brent crude oil (June) price remained unchanged [29]. - **PX - related**: The prices and spreads of PX changed. The domestic PX device maintenance is concentrated in April, and the supply has a regression expectation [29]. - **PTA - related**: The PTA price, processing fee, and operating rate changed. The PTA supply - demand pattern is tight in April [29]. - **MEG - related**: The MEG price, inventory, and operating rate changed. The MEG inventory de - stocking amplitude narrowed in April [29]. Crude Oil - **Prices and spreads**: On April 21, compared with April 17, Brent and WTI prices decreased, while SC prices increased. The spreads between different contracts and varieties also changed [33]. - **Product prices and spreads**: The prices of refined oil products such as NYM RBOB, NYM ULSD, and ICE Gasoil decreased, and their spreads changed [33]. - **Cracking spreads**: The cracking spreads of refined oil products in different regions changed, with the US diesel cracking spread rising by 9.52% [33]. Polyolefins - **Prices and spreads**: The prices of L2505, L2509, PP2505, PP2509 contracts and spot prices of some products changed. For example, the L2505 closing price increased by 0.11% [36]. - **Operating rates and inventories**: The operating rates of PE and PP devices and their downstream industries changed, and the inventories of PE and PP also changed [38][39][40]. Styrene - **Upstream prices**: The prices of upstream raw materials such as Brent crude oil, CFR Japan naphtha, etc. remained stable, and the pure benzene import profit decreased [42]. - **Spot and futures prices**: The styrene spot price decreased by 0.4%, and the EB2505 and EB2506 futures prices increased [43]. - **Overseas quotes and import profits**: The overseas quotes of styrene remained unchanged, and the import profit increased [44]. - **Industry chain operating rates and profits**: The operating rates of some products in the styrene industry chain changed, and the profits of styrene and related products also changed [45].