Report Industry Investment Rating - No information provided in the reports. Core Views - The reports present daily data on various futures, including stock index futures, treasury bond futures, precious metal futures, and container shipping industry futures, covering aspects such as price differences, price changes, and related market indicators [1][2][3][5]. Summary by Related Catalogs Stock Index Futures - **Price Differences**: The latest values, changes from the previous day, and historical quantiles of price differences (including spot - futures and inter - period price differences) for IF, IH, IC, and IM are provided. For example, the IC spot - futures price difference is - 161.25, with a change of - 15.31 from the previous day, and a 1 - year historical quantile of 80.00% [1]. Treasury Bond Futures - **IRR and Basis**: The IRR and basis data of TS, TF, T, and TL are presented, along with their changes from the previous trading day and historical quantiles. For instance, the TF basis on 2025 - 10 - 21 is 1.5006, with a change of - 0.0220, and a historical quantile of 38.40% [2]. - **Inter - period and Cross - variety Price Differences**: The inter - period price differences (such as current quarter - next quarter) and cross - variety price differences (such as TS - TF) are given, including their latest values, changes, and historical quantiles [2]. Precious Metal Futures - **Prices**: The closing prices of domestic and foreign precious metal futures (AU2512, COMEX gold, etc.), spot prices (London gold, etc.), and their changes and price - to - price ratios are reported. For example, the closing price of the AU2512 contract on October 21 is 994.06 yuan/gram, with a price increase of 23.74 and a growth rate of 2.45% [3]. - **Basis and Ratios**: The basis between different precious metal products (such as gold TD - Shanghai gold futures) and price - to - price ratios (such as COMEX gold/silver) are provided, along with their historical quantiles [3]. - **Interest Rates, Exchange Rates, Inventory, and Positions**: Data on interest rates (10 - year US Treasury bond yield), exchange rates (US dollar index), inventory (Shanghai Futures Exchange gold inventory), and positions (SPRD gold ETF position) are presented [3]. Container Shipping Industry Futures - **Spot Quotes**: Spot quotes for shipping routes from Shanghai to Europe by different shipping companies (MAERSK, CMA, etc.) and their price changes are given. For example, the MAERSK shipping price on October 22 is 2211 US dollars/FEU, with an increase of 367 and a growth rate of 19.90% [5]. - **Shipping Indexes**: The settlement price indexes of shipping routes (SCFIS European route, SCFIS US West route) and Shanghai export container freight rates (SCFI comprehensive index) and their changes are reported [5]. - **Futures Prices and Basis**: The futures prices of different contracts (EC2602, EC2512) and the basis of the main contract are provided, along with their changes [5]. - **Fundamental Data**: Data on shipping capacity supply, foreign trade - related indicators (Shanghai port on - time rate), overseas economic indicators (eurozone comprehensive PMI), and OECD comprehensive leading indicators are presented [5].

免费声明 生猪产业期现日报 投资咨询业务资格:证监许可 【2011】1292号 2025年10月22日 朱迪 Z0015979 | 159 14 | | --- | | 10007 | | T 1000 | | 期货指标 | | | | | | | --- | --- | --- | --- | --- | --- | | 品种 | 现值 | 前值 | 涨跌 | 张跌幅 | 单位 | | 主力合约基在 生猪2511 | -785 11525 | -805 11410 | 20 115 | 2.48% 1.01% | | | | | | | | 元/吨 | | 生猪2601 | 12235 | 12155 | 80 | 0.66% | | | 生猪11-1价差 | -710 | -745 | 35 | 4.70% | | | 主力合约持仓 | 103162 | 102555 | 607 | 0.59% | ま | | 仓单 | 111 | 111 | 1 | - | | | 现货价格 | | | | | | | 品种 | 现值 | 前值 | 涨跌 | 当地升贴水 | 单位 | | 河南 | 11450 | 11 ...

1. Glass and Soda Ash Report Industry Investment Rating Not provided. Core View - Soda ash continues to weaken, with inventory piling up in factories and mid - stream delivery warehouses. The supply is in excess compared to current demand, and without actual capacity exit or load reduction, the supply - demand situation will be further pressured. Adopt a short - selling strategy on rebounds [1]. - Glass manufacturers' sales have improved, but the deep - processing orders are still weak. In the long - term, the industry needs capacity clearance to solve the over - supply problem. Pay attention to spot purchasing rhythm, high - frequency data changes, and macro - level drivers [1]. Summary by Directory - **Prices and Spreads**: Glass prices in North China, East China, Central China, and South China decreased, with drops ranging from 0.85% to 3.28%. Soda ash prices in most regions remained stable. Glass futures prices were mostly flat or slightly down, while soda ash futures prices rose slightly [1]. - **Supply**: Soda ash production rate increased by 3.37% to 88.41%, and weekly output increased by 3.37% to 77.08 million tons. Float glass daily melting volume increased by 1.16% to 16.13 million tons, and PV daily melting volume remained unchanged [1]. - **Inventory**: Glass factory inventory increased by 5.84% to 6282.40 ten - thousand heavy boxes, and soda ash factory inventory increased by 3.74% to 165.98 million tons [1]. 2. Industrial Silicon Report Industry Investment Rating Not provided. Core View - Industrial silicon spot prices are stable, and futures prices first rose on news of a company's production cut and then fell back. In October, supply increased significantly, with a risk of inventory accumulation and price pressure. However, considering cost factors and the approaching dry season, prices may move up. The price is expected to fluctuate at a low level, mainly in the range of 8000 - 9500 yuan/ton. Consider buying at low prices if the 11 - contract price drops to 8000 - 8300 yuan/ton [2]. Summary by Directory - **Prices and Spreads**: Spot prices of most industrial silicon varieties remained unchanged, and basis differences decreased. Some monthly spreads changed significantly, such as the 2510 - 2511 spread dropping by 97.30% [2]. - **Fundamentals**: National industrial silicon production increased by 9.10% to 42.08 million tons, and Xinjiang's production increased by 19.78% to 20.32 million tons. Organic silicon DMC production decreased by 5.78%, and polysilicon production decreased by 1.29%. Recycled aluminum alloy production increased by 7.48%, and industrial silicon exports decreased by 8.36% [2]. - **Inventory**: Social inventory increased by 3.12% to 56.20 million tons, and non - warehouse receipt inventory increased by 7.15% to 31.55 million tons [2]. 3. Polysilicon Report Industry Investment Rating Not provided. Core View - Polysilicon futures prices fell after opening on Monday, possibly due to some funds taking profits. The continuous increase in polysilicon warehouse receipts pressured the November contract price. There is a risk of inventory accumulation due to increased supply. Whether the increased production can be digested by demand in the fourth - quarter peak - installation season will significantly affect prices. The price is mainly in a high - level oscillation. Pay attention to policy implementation, production control, and demand - side orders. The supply in Southwest China will decrease during the dry season, which will support prices. Guard against the risk of inventory accumulation if demand is lower than expected [4]. Summary by Directory - **Prices and Spreads**: The average price of most polysilicon and related products remained stable. The main contract price of futures decreased by 3.82% [4]. - **Fundamentals**: Weekly silicon wafer production increased by 11.85% to 14.35 GM, and monthly polysilicon production decreased by 1.29% to 13.00 million tons. Polysilicon imports increased by 28.46%, and exports decreased by 28.16% [4]. - **Inventory**: Polysilicon inventory increased by 5.42% to 25.30 million tons, and silicon wafer inventory increased by 3.16% to 17.31 GM [4]. 4. Logs Report Industry Investment Rating Not provided. Core View - The log futures market fluctuated. The 01 contract is relatively strong. With the increase in foreign quotes and port fees, there is strong cost support. During the seasonal peak season, the futures price has certain support at the bottom. The 01 contract may be treated as bullish [5]. Summary by Directory - **Prices and Spreads**: Log futures prices of different contracts decreased slightly. Spot prices of most log varieties remained unchanged [5]. - **Supply**: Monthly port shipments increased by 6.00% to 176.6 million cubic meters, and the number of ships from New Zealand to China, Japan, and South Korea increased by 4.55% [5]. - **Inventory**: National log inventory decreased by 2.34% to 292.00 million cubic meters, and the average daily log出库 volume increased by 10% to 6.32 million cubic meters [5]. 5. Natural Rubber Report Industry Investment Rating Not provided. Core View - In the short - term, the rebound in raw material prices supports rubber prices, but the expected improvement in weather in northeastern Thailand may lead to a decline in raw material prices. Demand has not improved significantly, and some enterprises are still adjusting production flexibly to control inventory. In the short - term, rubber prices may follow the macro - led market. If raw material supply is smooth, prices may decline further; if not, prices are expected to be around 15000 - 15500 yuan/ton [7]. Summary by Directory - **Prices and Spreads**: The price of Yunnan state - owned whole - latex increased by 0.35%, and the price of Thai standard mixed rubber increased by 0.69%. Some month - to - month spreads changed significantly [7]. - **Fundamentals**: Production in Thailand, Indonesia, and India in August showed different trends. Tire production and import of natural rubber increased, while tire exports decreased [7]. - **Inventory**: Bonded area inventory decreased by 4.07% to 43483 tons, and natural rubber factory - warehouse futures inventory on the SHFE decreased by 2.93% to 40119 tons [7].

1. Report Industry Investment Ratings - No industry investment ratings are provided in the reports. 2. Core Views Polyester Industry - PX: Short - term drive is limited, with weak oscillations. Supply is expected to contract, but overall remains weak. Suggest to wait and see, focus on Brent crude oil support at $60/barrel, and conduct month - spread reverse arbitrage [1]. - PTA: Short - term drive is limited, with weak oscillations. Spot basis has weakened, but the downward space is limited. Suggest to wait and see, focus on Brent crude oil support at $60/barrel, and treat TA1 - 5 with rolling reverse arbitrage [1]. - Ethylene Glycol (MEG): Supply is abundant, with expected inventory accumulation in October and high accumulation in November - December. Suggest to short EG01 at high prices, hold the seller of call option EG2601 - C - 4250, and conduct EG1 - 5 reverse arbitrage at high prices [1]. - Short - fiber: Supply is at a high level, and terminal demand in Q4 is expected to be weak. Prices are supported in the short - term due to low inventory. Suggest the same strategy as PTA for single - side trading, and shrink the processing margin when it is above 1000 in the range of 800 - 1100 [1]. - Bottle - chip: Entering the seasonal inventory accumulation period, prices fluctuate with the cost side. Suggest the same strategy as PTA for PR single - side trading, and expect the main - contract processing margin to fluctuate between 350 - 500 yuan/ton [1]. Pure Benzene - Styrene Industry - Pure Benzene: Overall supply and demand in October are expected to be loose, with weak price drive. Suggest BZ2603 to oscillate following styrene and oil prices [2]. - Styrene: Supply will remain high, and demand support is limited. Prices are still under pressure in the short - term. Suggest to short EB12 on price rebounds [2]. Chlor - Alkali Industry - Caustic Soda: Short - term supply is increasing, and demand support is weak, with prices tending to be weak. In the medium - to - long - term, there is demand support. Suggest to short in the short - term and track downstream restocking [3]. - PVC: Supply and demand pressure is high, and the contradiction is difficult to resolve. Cost provides bottom support. Suggest to stop short - selling and wait for changes in demand [3]. Methanol Industry - Methanol: Prices may continue to oscillate. Focus on overseas device stability, customs clearance efficiency of sanctioned vessels, and actual arrival. Pay attention to port inventory reduction and overseas gas - limiting expectations [4]. Polyolefin Industry - LLDPE and PP: Supply pressure is prominent in the medium - to - long - term, and demand lacks bright spots. The 01 - contract upside is limited. Prices are under pressure due to macro - environment, cost, and supply - demand factors [6]. 3. Summaries by Catalogs Polyester Industry - **Upstream Prices**: Brent crude oil (December) decreased by 0.5%, WTI crude oil (December) decreased slightly. CFR Japan naphtha remained unchanged. Most upstream prices were stable or slightly decreased [1]. - **Downstream Polyester Product Prices and Cash Flows**: Most downstream polyester product prices decreased slightly, and cash flows showed different changes [1]. - **PX - related Prices and Spreads**: CFR China PX remained unchanged, while PX spot price in RMB decreased by 1.2% [1]. - **PTA - related Prices and Spreads**: PTA spot price decreased by 0.6%, and futures prices also decreased slightly [1]. - **MEG - related Prices and Spreads**: MEG spot price decreased by 0.4%, and futures prices had minor changes [1]. - **Industry Operating Rates**: Asian and Chinese PX operating rates decreased, while PTA and MEG operating rates increased slightly [1]. Pure Benzene - Styrene Industry - **Upstream Prices and Spreads**: Brent and WTI crude oil prices decreased slightly, and most upstream prices remained stable [2]. - **Styrene - related Prices and Spreads**: Styrene spot and futures prices decreased, and cash flows and spreads changed [2]. - **Downstream Cash Flows**: Cash flows of most downstream products improved [2]. - **Inventory**: Pure benzene and styrene inventories in Jiangsu ports increased [2]. - **Industry Operating Rates**: Operating rates of most products in the pure benzene and styrene industries decreased [2]. Chlor - Alkali Industry - **PVC and Caustic Soda Spot & Futures**: Caustic soda prices decreased, PVC prices remained stable, and futures prices had minor changes [3]. - **Caustic Soda Overseas Quotes & Export Profits**: FOB quotes and export profits decreased [3]. - **PVC Overseas Quotes & Export Profits**: CFR quotes decreased slightly, and export profits decreased significantly [3]. - **Supply: Chlor - Alkali Operating Rates & Industry Profits**: Caustic soda and PVC operating rates decreased, and some profit indicators changed [3]. - **Demand: Downstream Operating Rates**: Some downstream operating rates of caustic soda and PVC changed [3]. - **Inventory**: Liquid caustic soda and PVC inventories decreased slightly [3]. Methanol Industry - **Methanol Prices and Spreads**: Futures prices had minor changes, and spot prices in different regions showed different trends [4]. - **Inventory**: Enterprise inventory increased, while port and social inventories decreased [4]. - **Upstream and Downstream Operating Rates**: Domestic upstream operating rate decreased, and overseas upstream operating rate increased [4]. Polyolefin Industry - **Polyolefin Prices and Spreads**: Futures prices of LLDPE and PP increased slightly, and spot prices also had minor changes [6]. - **PE and PP Non - standard Prices**: Some non - standard prices of PE and PP decreased slightly [6]. - **Inventory**: PE and PP enterprise inventories increased [6]. - **Upstream and Downstream Operating Rates**: PE and PP device operating rates changed slightly, and downstream weighted operating rates increased slightly [6].

| 硅铁 (SF601) | 72.70% | 折算价:72硅铁合格块:内蒙-天津仓单 | 5558 | 122 | 2.24% | 5436 | 4.04% | 折算价:6517硅锰:内蒙-湖北仓单 | 232 | 5970 | 5738 | 65.20% | 硅锰(SM601) | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 155 | 5.09% | 螺纹钢 (RB2601) | 3200 | 64.70% | HRB40020mm:上海 | 3045 | 1.71% | રેર | 热卷(HC2601) | 3215 | Q235B: 4.75mm: 上海 | 3270 | 41.90% | | | | | | રે | 832 | 8.47% | 折算价:62.5%巴混粉(BRBF):淡水河谷:日照港 | 铁矿石 (12601) | 767 | 51.80% | -6.28% | 1603 | 1710 | ...

1. Report Industry Investment Ratings No industry investment ratings are provided in the reports. 2. Core Views of the Reports - **Polyester Industry**: In the short term, PX, PTA, and other products are mainly in a weak shock state. The supply of PX is expected to shrink, but the overall supply - demand is still weak. PTA's basis has weakened, and the supply of ethylene glycol is abundant with a high probability of inventory accumulation. Short - fiber prices are supported by low inventory, and bottle - chips may enter a seasonal inventory accumulation channel [1]. - **Pure Benzene - Styrene Industry**: The supply - demand of pure benzene in October is expected to be loose, and the price drive is weak. The supply - demand of styrene is also expected to be loose, and the price is under pressure in the short term [2]. - **PVC and Caustic Soda Industry**: The demand for caustic soda is weakly supported in the short term but may have support in the medium - long term. The supply - demand pressure of PVC is large, and the price is weak, but the cost end provides bottom support [3]. - **Methanol Industry**: The price of methanol may continue to fluctuate. Attention should be paid to the stability of overseas device operation, the clearance efficiency of sanctioned vessels, and the actual arrival performance [4]. - **Polyolefin Industry**: The supply - demand structure of polyolefins is loose, and the upside space of the 01 contract is limited. The prices of PP and PE are under pressure [6]. 3. Summaries According to Related Catalogs Polyester Industry - **Upstream Prices**: Brent crude oil (December) decreased by 0.5%, WTI crude oil (December) remained unchanged, CFR Japan naphtha remained unchanged, etc [1]. - **Downstream Polyester Product Prices and Cash Flows**: POY150/48 price decreased by 1.2%, FDY150/96 price decreased by 0.1%, etc [1]. - **PX - Related Prices and Spreads**: CFR China PX remained unchanged, PX spot price (RMB) decreased by 1.2%, etc [1]. - **PTA - Related Prices and Spreads**: PTA East China spot price decreased by 0.6%, TA futures 2601 decreased by 0.4%, etc [1]. - **MEG - Related Prices and Spreads**: MEG East China spot price decreased by 0.4%, EG futures 2601 remained unchanged, etc [1]. - **Polyester Industry Chain Operating Rates**: Asian PX operating rate decreased by 2.4%, China PX operating rate decreased by 2.5%, etc [1]. Pure Benzene - Styrene Industry - **Upstream Prices and Spreads**: Brent crude oil (December) decreased by 0.5%, WTI crude oil (November) remained unchanged, CFR Japan naphtha remained unchanged, etc [2]. - **Styrene - Related Prices and Spreads**: Styrene East China spot decreased by 1.7%, EB futures 2511 decreased by 1.8%, etc [2]. - **Pure Benzene and Styrene Downstream Cash Flows**: The cash flow of phenol increased by 20.8%, the cash flow of caprolactam (single product) increased by 4.1%, etc [2]. - **Pure Benzene and Styrene Inventories**: Pure benzene Jiangsu port inventory increased by 10.0%, styrene Jiangsu port inventory increased by 3.1% [2]. - **Pure Benzene and Styrene Industry Chain Operating Rates**: Asian pure benzene operating rate decreased by 1.1%, domestic pure benzene operating rate decreased by 4.8%, etc [2]. PVC and Caustic Soda Industry - **PVC, Caustic Soda Spot & Futures**: Shandong 32% liquid caustic soda converted to 100% price decreased by 1.2%, Shandong 50% liquid caustic soda converted to 100% price decreased by 0.8%, etc [3]. - **Caustic Soda Overseas Quotes & Export Profits**: FOB East China port decreased by 5.0%, export profit decreased by 77.6% [3]. - **PVC Overseas Quotes & Export Profits**: CFR Southeast Asia remained unchanged, CEREDIa decreased by 1.4%, etc [3]. - **Supply: Chlor - Alkali Operating Rates & Industry Profits**: Caustic soda industry operating rate decreased by 3.9%, PVC total operating rate decreased by 7.0%, etc [3]. - **Demand: Caustic Soda Downstream Operating Rates**: Viscose staple fiber industry operating rate decreased by 1.1%, printing and dyeing industry operating rate increased by 0.2% [3]. - **Demand: PVC Downstream Products Operating Rates**: Longzhong sample building materials operating rate increased by 21.8%, Longzhong sample profile operating rate increased by 109.6% [3]. - **Chlor - Alkali Inventories: Social and Factory Inventories**: Liquid caustic soda East China factory inventory decreased by 1.1%, PVC upstream factory inventory decreased by 6.1% [3]. Methanol Industry - **Methanol Prices and Spreads**: MA2601 closing price decreased by 0.26%, MA2605 closing price increased by 0.09%, etc [4]. - **Methanol Inventories**: Methanol enterprise inventory increased by 6.33%, methanol port inventory decreased by 3.36%, etc [4]. - **Methanol Upstream and Downstream Operating Rates**: Upstream - domestic enterprise operating rate decreased by 1.86%, upstream - overseas enterprise operating rate increased by 2.28%, etc [4]. Polyolefin Industry - **Polyolefin Prices and Spreads**: L2601 closing price increased by 0.07%, L2509 closing price increased by 0.30%, etc [6]. - **PE and PP Non - Standard Prices**: East China LDPE price decreased by 0.54%, East China HD film price remained unchanged, etc [6]. - **PE and PP Upstream and Downstream Operating Rates**: PE device operating rate decreased by 2.61%, PE downstream weighted operating rate increased by 1.26%, etc [6]. - **PE and PP Inventories**: PE enterprise inventory increased by 27.67%, PE social inventory increased by 4.02%, etc [6].

知识图强, 求实奉献, 客户至上, 合作共赢 关注载信公众号 产业期现日报 | 材产业期现日报 | | | | | | | 投资咨询业务资格:证监许可 【2011】1292号 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | | 2025年10月21日 | | 周敦波 | Z0010559 | | | | | | | | | | 钢材价格及价差 | | | | | | 现值 | | | | | | | 品种 | 前目 | 狱跌 | 基差 | 单位 | | 3200 | | | | | | | 螺纹钢现货(华东) | 3200 | O | 155 | | | 3110 | | | | | | | 螺纹钢现货(华北) | 3110 | O | રિ | | | 3240 | | | | | | | 螺纹钢现货(华南) | 3220 | 20 | 105 | | | 3101 | | | | | | | 螺纹钢05合约 | 3093 | 8 | ਰੇਰੇ | | | 31 ...

Report 1: Stock Index Futures Spread Daily Report Core Data Summary - **Spot-Futures Spread**: IF spot-futures spread was -31.42, up 11.90% from the previous day; IH was -4.46, up 0.31; IC was -160.44, up 4.00%; IM was -179.98, up 65.00% [1]. - **Inter - Delivery Spread**: For example, in IF, the spread between the next - month and current - month contracts was -13.00, up 30.80 [1]. - **Cross - Variety Ratio**: IC/IF was 1.5331, up 0.0029; IC/IH was 2.3260, up 0.0097 [1]. Report 2: Treasury Bond Futures Spread Daily Report Core Data Summary - **IRR and Basis**: TS basis was 1.4666, down 0.0144 from the previous day; TF was 1.5917, down 0.0201; T was 1.6344, up 0.2524; TL was 1.6128, up 0.0001 [2]. - **Inter - Delivery Spread**: In TS, the spread between the current - quarter and next - quarter contracts was -0.0100, up 37.20% [2]. - **Cross - Variety Spread**: TS - TF was -3.3210, up 0.0810; TS - T was -5.7760, up 0.1410 [2]. Report 3: Precious Metals Spot - Futures Daily Report Core Data Summary - **Domestic Futures Closing Prices**: AU2512 contract closed at 970.32 yuan/g on October 20, down 29.48 yuan (-2.95%) from October 17; AG2512 contract closed at 11742 yuan/kg, down 507 yuan (-4.14%) [3]. - **Foreign Futures Closing Prices**: COMEX gold主力合约 closed at 4374.30 US dollars/ounce on October 20, up 106.40 US dollars (2.49%) from October 17; COMEX silver主力合约 closed at 51.40, up 0.77 (1.53%) [3]. - **Spot Prices**: London gold was 4355.69 US dollars/ounce on October 20, up 104.24 US dollars (2.45%) from October 17; London silver was 51.86, up 0.53 (1.01%) [3]. - **Basis**: Gold TD - Shanghai gold主力 was 3.38, up 7.28 from the previous value; Silver TD - Shanghai silver主力 was 37, up 58 [3]. - **Ratio and Other Data**: COMEX gold/silver ratio was 85.10, up 0.80 (0.95%); Shanghai Futures Exchange gold/silver ratio was 82.64, up 1.01 (1.24%) [3]. Report 4: Container Shipping Industry Spot - Futures Daily Report Core Data Summary - **Spot Quotes**: MAERSK's Shanghai - Europe 6 - week future freight rate was 1844 US dollars/FEU on October 21, down 2.95% from October 20; CMA CGM was 2717 US dollars/FEU, up 2.57% [5]. - **Container Shipping Index**: SCFIS (European route) was 1140.38 points on October 20, up 10.52% from October 13; SCFIS (US West route) was 863.46 points, up 0.11% [5]. - **Futures Prices and Basis**: EC2602 contract closed at 1522.0 on October 20, up 3.40% from October 17; the basis of the main contract was -299.9, down 24.1 (8.74%) [5]. - **Fundamental Data**: Global container shipping capacity supply was 3323.62 million TEU on October 21, unchanged from October 20; Shanghai port on - time rate in September was 42.77%, up 133.59% from August [5].

1. Report Industry Investment Rating - No information provided 2. Core View of the Report - The report provides a daily tracking of stock index futures positions, including the overall position changes and key changes in the top 20 seats of IF, IH, IC, and IM contracts on October 20, 2025 [1][5][12] 3. Summary by Related Catalogs IF (CSI 300) - **Overall Position Change**: On October 20, the total position of the IF variety decreased by 8,343 lots, and the position of the main contract 2512 decreased by 6,835 lots [5] - **Top 20 Long Seats**: Among the top 20 long seats, Guotai Junan Futures ranked first with a total position of 38,965 lots. Guotou Futures had the largest increase in long positions, adding 806 lots, while Guotai Junan Futures had the largest decrease, reducing 2,219 lots [6] - **Top 20 Short Seats**: Among the top 20 short seats, CITIC Futures ranked first with a total position of 43,168 lots. Guotou Futures had the largest increase in short positions, adding 1,012 lots, while Guotai Junan Futures had the largest decrease, reducing 2,412 lots [8] IH (SSE 50) - **Overall Position Change**: On October 20, the total position of the IH variety decreased by 8,030 lots, and the position of the main contract 2512 decreased by 7,038 lots [12] - **Top 20 Long Seats**: Among the top 20 long seats, Guotai Junan Futures ranked first with a total position of 11,167 lots. Nanhua Futures had the largest increase in long positions, adding 98 lots, while Guotai Junan Futures had the largest decrease, reducing 1,599 lots [13] - **Top 20 Short Seats**: Among the top 20 short seats, CITIC Futures ranked first with a total position of 14,778 lots. Everbright Futures had the largest increase in short positions, adding 104 lots, while Guotai Junan Futures had the largest decrease, reducing 2,561 lots [14] IC (CSI 500) - **Overall Position Change**: On October 20, the total position of the IC variety decreased by 3,371 lots, and the position of the main contract 2512 decreased by 4,998 lots [18] - **Top 20 Long Seats**: Among the top 20 long seats, Guotai Junan Futures ranked first with a total position of 37,773 lots. Shenyin Wanguo Futures had the largest increase in long positions, adding 210 lots, while CITIC Futures had the largest decrease, reducing 2,972 lots [19] - **Top 20 Short Seats**: Among the top 20 short seats, CITIC Futures ranked first with a total position of 40,092 lots. Shenyin Wanguo Futures had the largest increase in short positions, adding 135 lots, while CITIC Futures had the largest decrease, reducing 2,814 lots [21] IM (CSI 1000) - **Overall Position Change**: On October 20, the total position of the IM variety decreased by 9,885 lots, and the position of the main contract 2509 decreased by 9,694 lots [25] - **Top 20 Long Seats**: Among the top 20 long seats, Guotai Junan Futures ranked first with a total position of 52,643 lots. Dadi Futures had the largest increase in long positions, adding 256 lots, while CITIC Futures had the largest decrease, reducing 1,821 lots [26] - **Top 20 Short Seats**: Among the top 20 short seats, CITIC Futures ranked first with a total position of 73,321 lots. Guotou Futures had the largest increase in short positions, adding 477 lots, while CITIC Futures had the largest decrease, reducing 1,696 lots [28]

| 玻璃纯碱期现日报 | | | | | | | --- | --- | --- | --- | --- | --- | | 投资咨询业务资格:证监许可 [2011] 1292号 2025年10月21日 | | | | 蒋诗语 | Z0017002 | | 玻璃相关价格及价差 | | | | | | | 品种 现值 | | 前值 | 张庆 | 张庆号 | 单位 | | 华北报价 1170 | | 1180 | -10 | -0.85% | | | 华东报价 1280 | | 1320 | -40 | -3.03% | | | 华中报价 1180 | | 1220 | -40 | -3.28% | | | 华南报价 | 1250 | 1270 | -20 | -1.57% | 元/中 | | 玻璃2505 | 1231 | 1231 | 0 | 0.00% | | | 玻璃2509 | 1319 | 1322 | -3 | -0.23% | | | 05基差 | -61 | -51 | -10 | -19.61% | | | 纯碱相关价格及价差 | | | | | | | 品种 | 现值 | 前值 | 张跃 | ...