期 货 研 究 2026 年 01 月 21 日 所 铝、氧化铝、铸造铝合金基本面数据更新 | | | | | | | T | T-1 | T-5 | T-22 | T-66 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 沪铝主力合约收盘价 | | | | | 23950 | -140 | -425 | 2015 | 3185 | | | 沪铝主力合约夜盘收盘价 | | | | | 23775 | l | । | l | l | | | LME铝3M收盘价 | | | | | 3119 | -47 | -78 | 256 | 455 | | | 沪铝主力合约成交量 | | | | | 447533 | 22846 | -378020 | 287670 | 301460 | | | 沪铝主力合约持仓量 | | | | | 332750 | -4347 | -38231 | 146944 | 112110 | | | 电解铝 LME铝3M成交量 | | | | | 24715 | ୧୪୧୧ | -5944 | 8 ...

Report Industry Investment Rating - No information regarding the report industry investment rating is provided in the given content. Core Viewpoint - The sentiment of the egg market has weakened [1] - The trend strength is 0, indicating a neutral outlook [2] Summary by Related Catalog Fundamental Tracking - **Futures Data**: The closing price of egg2602 is 3,002 yuan/500 kilograms with a daily increase of 0.03%, and the trading volume decreased by 4,107 while the open interest decreased by 1,094. The closing price of egg2603 is 3,027 yuan/500 kilograms with a daily decrease of 0.13%, and the trading volume decreased by 82,684 while the open interest increased by 2,233 [1] - **Spread Data**: The egg2 - 3 spread is -25, unchanged from the previous day, and the egg3 - 9 spread is -894, up from -925 the previous day [1] - **Spot Price Data**: The spot prices in Liaoning, Hebei, and Shanxi remained unchanged at 3.60 yuan/jin, 3.40 yuan/jin, and 3.70 yuan/jin respectively. The Hubei spot price dropped from 3.76 yuan/jin to 3.67 yuan/jin [1] - **Industrial Chain Data**: The corn spot price increased from 2,365 yuan/ton to 2,369 yuan/ton, the soybean meal spot price remained at 3,100 yuan/ton, and the Henan live - hog price dropped from 13.43 yuan/kg to 13.38 yuan/kg [1]

2026 年 1 月 21 日 铁矿石：价格走弱，关注下游补库节奏 张广硕 投资咨询从业资格号：Z0020198 zhangguangshuo@gtht.com 【基本面跟踪】 铁矿石基本面数据 | | | | 昨日收盘价(元/吨) | 涨跌(元/吨) | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | 期货 | I 2605 | | 789.5 | -4.5 | -0.57% | | | | | | 昨日持仓(手) | 持仓变动(手) | | | | | | 586. 412 | -29,929 | | | | | 昨日价格(元/吨) | 前日价格(元/吨) | 涨跌(元/吨) | | | 进口矿 | 卡粉 (65%) | 878. 0 | 883. 0 | -5.0 | | | | PB (61.5%) | 799.0 | 804. 0 | -5.0 | | 现货价格 | | 金布巴 (61%) | 752. 0 | 757. 0 | -5. 0 | | | | 超特 (56.5%) | 677.0 | 680. 0 | -3.0 | | | 国产矿 | 郎那 ...

2026 年 01 月 21 日 工业硅：商品情绪回落，逢高布空思路 多晶硅：关注现货成交价 张 航 投资咨询从业资格号：Z0018008 zhanghang2@gtht.com 【基本面跟踪】 工业硅、多晶硅基本面数据 | | | 指标名称 | T | T-1 | T-5 | T-22 | | --- | --- | --- | --- | --- | --- | --- | | | | Si2605收盘价（元/吨） | 8,745 | -100 | 110 | 275 | | | | Si2605成交量（手） | 338,306 | -52,808 | 68,230 | -7,978 | | | | Si2605持仓量（手） | 224,552 | -10,615 | -17,917 | 13,742 | | | 工业硅、多晶硅期货市场 | PS2605收盘价（元/吨） | 50,700 | 195 | 1,695 | - | | | | PS2605成交量（手） | 10,115 | -2,120 | -18,264 | - | | | | PS2605持仓量（手） | 43,632 | -939 | ...

2026 年 01 月 21 日 | | | 【基本面跟踪】 尿素基本面数据 | | 项 目 | 项目名称 | | 昨日数据 | 前日数据 | 变动幅度 | | --- | --- | --- | --- | --- | --- | --- | | 期货市场 | 尿素主力 | 收盘价 | （元/吨） | 1,775 | 1,772 | 3 | | | | 结算价 | （元/吨） | 1,768 | 1,781 | -13 | | | | 成交量 | （手） | 175,891 | 115,182 | 60709 | | | （05合约） | 持仓量 | （手） | 233,074 | 235,887 | -2813 | | | | 仓单数量 | （吨） | 13,355 | 13,355 | 0 | | | | 成交额 | （万元） | 621,930 | 410,186 | 211744 | | | 基 差 | 山东地区基差 | | -25 | -22 | - 3 | | | | 丰喜-盘面 | （运费约100元/吨） | -145 | -142 | - 3 | | | | 东光-盘面 | （最便宜可交割品 ...

商 品 研 究 2026 年 01 月 21 日 纸浆：震荡偏弱 20260121 | | | 表 1：基本面数据 | 项目 | | 项目名称 | 昨日数据 | 前日数据 | 变动幅度 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 纸浆主力 | 日盘收盘价(元/吨) | 5.376 | 5. 362 | +14 | | | | 夜盘收盘价(元/吨) | 5. 352 | 5. 340 | +12 | | | | 成交量(手) | 190. 404 | 186. 669 | +3.735 | | | (05合约) | 持仓量(手) | 253. 759 | 249. 298 | +4. 461 | | | | 仓单数量(吨) | 139.554 | 139.584 | -30 | | | | 前20名会员净持仓(手) | -18.534 | -17.075 | -1.459 | | 价差数据 | 基差 | 银星-期货主力 | 74 | 88 | -14 | | | | 金鱼-期货主力(非标) | -726 | -712 | -14 | | | 月差 | SP0 ...

2026 年 1 月 21 日 碳酸锂：供给扰动，偏强震荡 | 邵婉嫕 | 投资咨询从业资格号：Z0015722 | shaowanyi@gtht.com | | --- | --- | --- | | 刘鸿儒 | 投资咨询从业资格号：Z0023466 | liuhongru@gtht.com | 【基本面跟踪】 碳酸锂基本面数据 | | | | T | T-1 | T-5 | T-10 | T-22 | T-66 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 2605合约（收盘价） | 160,500 | 13,240 | -6,480 | 22,560 | 51,880 | 85,380 | | | | 2605合约（成交量） | 451,074 | 121,948 | -157,103 | 146,837 | -707,537 | 436,195 | | | | 2605合约（持仓量） | 415,351 | 4,020 | -44,930 | -119,648 | -253,238 | 353,382 | | | 盘面 ...

2026 年 01 月 21 日 短纤：短期震荡市，加工费低位运行 20260121 瓶片：短期震荡市 20260121 钱嘉寅 投资咨询从业资格号：Z0023476 qianjiayin@gtht.com 【基本面跟踪】 | | | 昨日 | 前日 | 变化 | | 昨日 | 前日 | 变化 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 短纤2602 | 6490 | 6376 | 114 | PF02-03 | -4 | -22 | 18 | | PF | 短纤2603 | 6494 | 6398 | 96 | PF03-04 | -42 | -46 | ব | | | 短纤2604 | ୧୧3୧ | 6444 | 92 | PF主力基差 | -54 | 37 | -91 | | | 短纤主力持仓量 | 179671 | 193804 | -14133 | 短纤华东现货价格 | 6.440 | 6. 435 | 5 | | | 短纤主力成交量 | 190619 | 189910 | 709 | 短纤产销率 | 102% | 76 ...

胶版印刷纸：空单离场 2026 年 1 月 21 日 石忆宁 投资咨询从业资格号：Z0022533 shiyining@gtht.com 【基本面跟踪】 表 1：基本面数据(元/吨) 国 泰 君 安 期 货 研 究 所 请务必阅读正文之后的免责条款部分 1 【趋势强度】 双胶纸趋势强度：0 注 ：趋势强度取值范围为【-2,2】区间整数。强弱程度分类如下：弱、偏弱、中性、偏强、强，-2 表示最看空，2 表示最看多。 【行业新闻】 山东市场：高白双胶纸山东市场主流意向成交价格在 4650-4750 元/吨，部分本白双胶纸价格在 4400- 4500 元/吨区间，价格较上一工作日稳定，另有部分小厂货源价格偏低。规模纸厂维持正常开工，部分中 小厂排产意愿一般；市场新签订单有限，经销商去库节奏偏慢。 期货研究 | 市场 | 区域 | 纸种 | 2026/1/20 | 2026/1/19 | 环比 | | --- | --- | --- | --- | --- | --- | | | | 70g天阳 | 4475 4675 | 4475 4675 | 0 0 | | | 山东市场 | 70g晨鸣云镜 | | | | | ...

Group 1: Report Industry Investment Rating - The investment rating for the styrene industry is "stronger oscillation" [1] Group 2: Core View of the Report - Short - term styrene exports continue to exceed expectations, the downstream replenishment cycle begins, leading to a rapid market rebound. It will mainly be in a high - level oscillation in the short term. Overseas styrene plant maintenance in the first quarter drives marginal market benefits. New domestic supply is limited, and the downstream 3s shows stronger - than - expected resilience, triggering a short - term positive feedback in the market. This round of styrene rebound drives pure benzene up. Pure benzene currently has large physical pressure, but the long - term expectation is gradually improving [2] Group 3: Summary by Relevant Catalogs 1. Fundamental Tracking - Styrene futures prices: Styrene 2601 was 6,994 (unchanged from the previous day), Styrene 2602 was 7,203 (-92 from the previous day), Styrene 2603 was 7,248 (-100 from the previous day) [1] - Spreads and profits: EB - BZ was 1,655 (-90 from the previous day), non - integrated profit was 386 (-78 from the previous day), integrated profit was 1,055 (+109 from the previous day) [1] - Contract spreads: EB01 - 02 was -209 (+92 from the previous day), EB02 - 03 was -45 (+8 from the previous day) [1] - N + 1 contract was 7,310 (-40 from the previous day), N + 2 contract was 7,345 (-45 from the previous day) [1] 2. Trend Intensity - The trend intensity of styrene is 0, with a range of [-2, 2]. -2 means most bearish and 2 means most bullish [1] 3. Spot News - There is a situation of weak pure benzene and strong styrene, with a high - level spread. Overseas styrene plant maintenance in the first quarter leads to continuous export negotiations. Domestic new supply is limited, and the downstream 3s has stronger - than - expected resilience [2]