焦炭基差(右轴) 近期双硅价格跟随整个黑色板块震荡,总体看来驱动仍不足。基本面上,钢材价格承压格局不变,钢厂利润收缩，铁水向下 调整,直接需求走弱预期较强。随着终端需求谈李来临，负反馈压力逐步累积。整体合金厂利润不佳,但产量依旧偏高。 青岛港:出库价(含税):准一级治金焦(A13. S0 金厂自身减产或控产的驱动不足,中期供给过剩压力仍不减。由于供需过剩,合金厂库存累积较快,仓单数量趋于累积。 = 期货收益价(活跃合约 期双硅供给偏高而需求偏弱,虽然成本支撑走强,但供需过剩格局延续,价格将承压偏弱。 1500 【焦煤焦炭】期货大幅下跌,本周重大会议暂无增量利好 现货端:传焦炭第二轮提降将于周三登场,焦煤竞拍表现依然较弱,流拍较多,不过也有部分焦企适当补充原料库存,少 高性价比资源小幅上涨,港日贸易准一焦炭报价1450(-),炼焦煤价格指数1317.1(-4.6);蒙煤方面;口岸贸易企业 报价有所下调,下游企业询盘间价偏低,市场悲观情绪较浓,现甘其毛都口岸:蒙5原煤970(-18),蒙5精煤110(-) 河北唐山:蒙5精煤1390(-)。期货端:煤焦破位后,不断下跌创新低,市场情绪悲观, [M01跌破1000。 ...

the first 投资咨询业务资格:证监许可【2012】31号 IIVENNA 者需自行判断本报告中的任江意见或是议是否符合其标定状况。据比投资，责任含负、本报告仅向标定客户增进、未经国贸联授授灭评汇，任何引用、转载以及向第三方传播时行为您的成定图贸影货的专员 我司将视情况追究法律责任。 期市有风险,入市需谨慎。 II C E : s 流的衍生品综合服务商 DATE 入 期 市 市 服 热线 官 方 网 站 需 有 客 译 风 www.itf.com.cn 400-8888-598 慎 险 4月15日 贵金属数据日报 | | | | | 国贸期货研究院 | | 投资咨询号: Z0013700 | | | 2025/12/10 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 贵金属与新能源研究中心 白素娜 | | 人业资格号:F3023916 | | | | | | 日期 | 伦敦金现 | 伦敦银现 | COMEX黄金 | COMEX白银 | AU2512 | AG2512 | AU (T+D) | AG (T ...

ITG 国贸期货 投资咨询业务资格:证监许可【2012】31号 ITG国贸期货 | | | | | 聚酯数据日报 | | | --- | --- | --- | --- | --- | --- | | | | 国贸期货研究院 | | 投资咨询号:Z0017251 | 2025/12/10 | | | | 能源化工研究中心 | 陈胜 | | 从业资格号:F3066728 | | | 指标 | 2025/12/8 | 2025/12/9 | 变动值 | 行情综述 | | | INE原油(元/桶) | 457.6 | 446. 1 | -11.50 | 成交情况: PTA: 原油行情偏弱,对PTA成本支撑减弱,PTA行情小 | | SC | PTA-SC(元/陣) | 1368. 6 | 1402. 1 | 33. 57 | 跌。PTA仍然去库存,现货基差上涨。 | | | PTA/SC(比价) | 1. 4115 | 1. 4325 | 0. 0210 | | | | CFR中国PX | 841 | 832 | -9 | | | PX | PX-石脑油价差 | 278 | 261 | -17 | | | | PT ...

投资咨询业务资格:证监许可【2012】31号 【一国贸易报 ITG国贸期货 世界500强投资企业 国贸期货有限公司 成为一流的衍生品综合服务商 入 用 市 市 lle 41 客 官 方 网 站 服 热线 la 风 400-8888-598 www.itf.com.cn 口增量,为需求提供额外支撑。瓶片、短纤成本 直纺短纤负荷(周) 88. 37% 89. 32% 0. 95% 跟随。以上数据来自力得贫讯。 涤纶短纤产销 50.00% 66. 00% 16. 00% 涤纱开机率(周) 66. 00% 66. 00% 0. 00% 再生棉型负荷指数(周) 51. 10% 51. 10% 0. 00% 涤纶短纤与纯涤纱价格 涤纶短纤现金流 14000 10000 10000 1800 (器块) 照日后S2EL 年与命德出52EL (探偵) 太原始術 条短现金流 ·1.4D自幻杀想 9000 9000 13000 1400 8000 8000 12000 1000 7000 7000 6000 11000 600 6000 5000 200 T0000 5000 4000 4000 -200 9000 T 3000 ...

投资咨询业务资格:证监许可【2012】31号 TG国贸期货 ,数据 国贸期货研究院 投资咨询号:Z0015194 从业资格号:F3042528 农产品研究中心 杨璐琳 | | | 2025年12月9日 | 日环比 | 周环比 | | 2025年12月9日 | | 日环比 | 周环比 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 期货价格 | SP2601 | 5386 | -0. 11% | 1. 09% | 现货价格 | 针叶浆银星 5600 | | 0. 90% | 0. 90% | | (元/吨) | SP2512 | 4704 | 0. 47% | 0. 60% | (元/吨) | 针叶浆俄针 5250 | | 0.00% | 0. 00% | | | SP2605 | 5464 | 0.52% | 1. 83% | | 阔叶浆金鱼 4500 | | 0.00% | 0. 00% | | | | 本期价格 | 上期价格 | 月环比 | | 本期价格 | | 上期价格 | 月环比 | | 外盘报价 | 智利银星 | 6 ...

ITG国贸期货 投资咨询业务资格:证监许可【2012】31号 炭酸锂数据日报 白素娜 投资咨询号:Z0013700 从业资格号: F3023916 国贸期货研究院 2025/12/10 研究助理 陈宇森 从业资格号:F03123927 贵金属与新能源研究中心 据来源: SMM. 公井新闻整 锂化合物 100000 平均价 SMM电池级碳酸锂 92750 2500 SMM工业级碳酸锂 90350 0 2000 收盘价 涨跌幅 期货合约 60000 碳酸锂2512 -0. 24% 92580 碳酸锂2601 91000 -1.02% 40000 碳酸锂2602 -1.23% 91340 碳酸锂2603 91240 -1.23% 500 碳酸锂2604 92560 -1. 3% 平均价 锂矿 锂辉石精矿(CIF中国) 1165 0 = (120.5 5%-6%) 种类 利润估算 外购锂辉石精矿现金成本 94487 H # 利 -3021 外购锂辉石精矿利润 >EE 外购锂云母精矿现金成本 93100 F 外购锂云母精矿利润 -3898 本周碳酸锂产量+74吨, 库存-2363吨 行 小 国家发展改革委：全国新型储能 ...

投资咨询号: Z0000116 国贸期货研究院 2025/12/9 金融衍生品中心 李泽便 从业资格号:F0251925 数据米源: Wind,国贸期货研 Time to Matutity 行情回顾 成交量(亿) 收盘价 涨跌幅(%) 成交额(亿元) 指数 3019. 362 0. 58 1252. 39 上证50 44. 90 4621. 7545 4967. 16 199. 62 沪深300 0. 81 7423.0462 中证1000 4184. 75 240. 92 1. 10 中金所股指期权成交情况 期权成交量 认购期权 持仓量 认洁期权 期权持企量 认购期权 日成交量 认洁期权 指数 持仓量 持仓量 (万张) 成交量 成交量 PCR (万张) PCR 上证50 2. 39 2. 79 0. 74 3. 91 1.51 0. 63 6. 58 3.79 沪深300 5. 34 13. 92 8. 58 0. 62 18. 83 8. 39 0. 80 10. 43 中证1000 32. 50 25. 49 14. 35 0. 78 16. 25 16. 26 11. 13 1. 00 中证1000P ...

Report Industry Investment Ratings - Bullish: Gold, Silver, Platinum, Palladium, Non-ferrous metals (general), Glass, Polycrystalline silicon, Lithium, Iron ore (far - month), JF, TF - Bearish: Industrial silicon, Palm oil, Rapeseed oil, Cotton, Crude oil, Fuel oil, Benzene, Styrene, TGB, PVC, Caustic soda, Container shipping (European line) - Neutral (Oscillating): Stock index, Treasury bonds, Copper, Aluminum oxide, Zinc, Nickel, Stainless steel, Tin, Rebar, Coke, Coking coal, Lime, JF, TF, Paper pulp, Logs, Natural rubber, BR rubber, PLA, Ethylene glycol, Short - fiber, LPG Core Views - The Politburo meeting released limited incremental information. Market attention may shift to the Central Economic Work Conference, and the stock index is expected to remain strong before it [1]. - Asset shortage and weak economy are beneficial to bond futures, but the central bank's short - term interest rate risk warning suppresses the upward space [1]. - LME copper's rising price may fall back after the short - term positive sentiment fades. The fundamentals of domestic alumina are weak, and its price is under pressure [1]. - The fundamentals of zinc have improved, and attention should be paid to the Fed's December interest - rate meeting. The short - term nickel price may fluctuate with the macro situation, and the long - term supply is excessive [1]. - The stainless - steel futures may rebound in the short term, and the tin price may rise in the short term but with a risk of a pull - back. The long - term view on tin is bullish [1]. - Gold and silver prices are supported, and platinum and palladium prices are expected to be supported in the short term. A long - platinum and short - palladium arbitrage strategy can be continued [1]. - The prices of many industrial products such as steel, iron ore, and non - ferrous metals are affected by factors such as production restrictions, demand, and supply, showing an oscillating trend [1]. - The prices of agricultural products are affected by factors such as production, inventory, and demand, and are in different situations such as having support but no drive, or facing supply pressure [1]. - The prices of energy and chemical products are affected by factors such as raw material costs, supply and demand, and macro policies, showing different trends of rise, fall, or oscillation [1]. Summary by Categories Macro - financial - Stock index: Expected to remain strong before the Central Economic Work Conference [1]. - Treasury bonds: Asset shortage and weak economy are beneficial, but the central bank's short - term interest rate risk warning suppresses the upward space [1]. Non - ferrous metals - Copper: LME copper's rising price may fall back after the short - term positive sentiment fades [1]. - Aluminum oxide: Domestic production and inventory are increasing, the fundamentals are weak, and the price is under pressure [1]. - Zinc: Fundamentals have improved, pay attention to the Fed's December interest - rate meeting [1]. - Nickel: Short - term price may fluctuate with the macro situation, long - term supply is excessive [1]. - Stainless steel: Futures may rebound in the short term, pay attention to the actual production of steel mills [1]. - Tin: May rise in the short term but with a risk of a pull - back, long - term view is bullish [1]. Precious metals and new energy - Gold: Supported by factors such as the central bank's continuous increase in reserves and the high probability of the Fed's December interest rate cut [1]. - Silver: Supported by factors such as the Fed's interest rate cut and supply - demand imbalance, but the inventory increase may cause volatile fluctuations [1]. - Platinum and Palladium: Expected to be supported in the short term, a long - platinum and short - palladium arbitrage strategy can be continued [1]. - Lithium: Affected by factors such as the traditional peak season of new energy vehicles and increased supply [1]. Building materials and steel - Rebar and H - beam: 12 - month macro - drive provides rebound momentum, suitable for basis trading, do not chase high unilaterally [1]. - Iron ore: Near - month is restricted by production cuts, far - month has upward potential [1]. - Coke and Coking coal: The decline may be near the end, but the driving force needs to wait, and the downstream may start restocking in mid - December [1]. - Glass and Soda ash: Glass has supply and demand support and low valuation, but short - term sentiment dominates; soda ash follows glass, with upward resistance [1]. Agricultural products - Palm oil: The impact of floods on production is limited, and the near - month inventory pressure is large [1]. - Rapeseed oil: The industry is optimistic about the supply of Australian rapeseed and imported crude rapeseed oil, considering shorting opportunities [1]. - Cotton: Supported by the purchase price, but lacks driving force in the short term, pay attention to future policies and demand [1]. Energy and chemical products - Crude oil and Fuel oil: Affected by factors such as OPEC + policies and sanctions, showing a bearish trend [1]. - Natural rubber and BR rubber: Affected by factors such as raw material costs, inventory, and production, showing different trends [1]. - Ethylene glycol and PTA: Affected by factors such as cost, supply and demand, and new device production, with different price trends [1]. - Styrene and TGB: Affected by factors such as market supply and demand, exports, and raw material costs, showing an oscillating trend [1]. - LPG: After the price correction, it maintains range - bound oscillation, pay attention to the impact of natural gas on near - month prices [1].

投资咨询号: Z0021658 从业资格号:F03110419 2025/12/9 | 指标 | | 12月8日 | 涨跌 | | | | 豆粕主力合约基差(张家港) | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 大连 | 110 | | 1600 | ここここ 18/19 ----- 22/23 | | - -- -- 19/20 - -- -- 23/24 | == - 24/25 | | ===== 21/22 - 25/26 | | | 天津 日照 | 50 -10 | | 1200 800 | | | | | | | | 43%豆粕现货基差 | | | | | | | | | | | | (对主力合约) | 张家港 | 10 | -14 | -400 | | | | | | | | | | | | 01/21 | 02/21 03/24 | 04/24 | | 05/25 06/25 07/26 08/26 09/26 10/27 11/27 12/28 | | | | | 东莞 | - ...

II GER期货 投资咨询业务资格：证监许可【2012】31号 航运衍生品数据日报 国贸期货研究院 能源化工研究中心 卢钉毅 从业资格号: F03101843 数据来源：Clarksons、Wind | C C | L 1 | τ C | | | --- | --- | --- | --- | | 2777 | | | ) | 免责 声明 【1】全球主要班轮公司 CMA CGM 宣布,其 INDAMEX 航线 在往返印度/巴基斯坦与美国东海岸的正向与回程航次 中,将全面改为通过 苏伊士运河（Suez Canal） 航行。这一决定被视为集装箱船大规模重返 红海航道 的重要进 十）将在面议为地区 办中 Lew Caleb Calter Caller 奢° 影响显著。FEWB 航线 12 月船司严控运力，空班率仅 0.9%，叠加船舶维修进一步减舱;欧洲北方及地中海主港持 续拥堵,延长船舶周转并致甩拒增加,而电商需求强劲支撑运价,船司推 GRI 带动市场上行,圣诞新年预计维持高 位。TAWB 航线北欧（鹿特丹等）与地中海港口因劳工纠纷等拥堵严重，堆场利用率超 90%，欧洲多国还面临集装箱 与拖车短缺问题。 【EC】 ...