Hong Yuan Qi Huo
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尿素早评:尿素偏强震荡-20250514
Hong Yuan Qi Huo· 2025-05-14 11:54
| | | | | 尿素早评20250514: 尿素偏强震荡 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 日慶 | | (绝对值) | 单位 | 5月13日 | 5月12日 | 变化值 | 英化值 (相对值) -0.17% | | UR01 UR05 山东 山西 | 民素期货价格 (收盘价) | | 元/吨 元/吨 元/吨 元/吨 | 1798.00 1930.00 1980.00 1890.00 | 1801.00 1925.00 1970.00 1890.00 | -3.00 5.00 10.00 0.00 | | | | | | | | | | 0.26% | | UR09 | | | 元/吨 | 1897.00 | 1897.00 | 0.00 | 0.00% | | 期现价格 | | | | | | | 0.51% | | 国内现货价格 | | | | | | | 0.00% | | 河南 | | | 元/吨 | 1930.00 | 1930.00 | 0.00 | 0.00% | | 河北 | (小顆粒) | | 元/吨 ...
有色金属周报(工业硅、多晶硅):工业硅疲态未改,多晶硅波动放大-20250514
Hong Yuan Qi Huo· 2025-05-14 08:59
1. Report Industry Investment Rating No information provided in the content. 2. Core Viewpoints of the Report - The industrial silicon market remains weak with an imbalance between supply and demand, lacking positive price drivers in the short - term. It is expected to maintain a volatile and weak consolidation, with a trading range of 8,000 - 10,000 yuan/ton, and a strategy of shorting on rallies is recommended. The polysilicon market shows both supply and demand weakness, and it will take time to relieve inventory pressure. The price is expected to have wide - range fluctuations, and cautious operation is advised [2]. 3. Summary According to the Directory 3.1 Industrial Silicon 3.1.1 Cost and Profit - As the southwest production area enters the flat - rate period, the power cost will decline. After high - cost northern enterprises shut down, the overall in - production cost of the industry will decrease, but the cost side provides insufficient support for silicon prices [2]. - In April, the average profit of national industrial silicon 553 was - 2,001 yuan/ton, a month - on - month decrease of 290 yuan/ton; the average profit of 421 was - 2,085 yuan/ton, a month - on - month decrease of 83 yuan/ton [37]. 3.1.2 Supply - Northern supply continues to decline, while the southwest production area is gradually starting furnaces. In Sichuan, the power price in the flat - rate period has decreased, leading to an increase in operation. The power price in the wet season is expected to decline compared to last year, and there are plans to add more silicon furnaces. In Yunnan, the negotiation of preferential power prices for the wet season is ongoing. Some enterprises have low willingness to start production due to unprofitable power costs, and the mainstream start - up time is expected to be around the end of June [2]. - In the week of May 8th, the overall start - up of silicon enterprises decreased slightly, with the number of operating furnaces decreasing by 1. The overall start - up of industrial silicon was stable, showing a pattern of increase in the south and decrease in the north [38][39]. 3.1.3 Demand - Downstream demand is weak, market transactions are low, and most are low - price transactions. Polysilicon plants maintain large - scale production cuts; the organic silicon industry maintains reduced production; the demand for silicon - aluminum alloy has weakened, and it purchases industrial silicon based on rigid demand [2]. 3.1.4 Inventory - Social inventory remains at a high level, and there is significant short - term inventory reduction pressure. As of May 8th, the social inventory of industrial silicon (warehouse inventory + delivery warehouse) was 59.6 tons, a month - on - month decrease of 0.70 tons; the total factory inventory of Xinjiang, Yunnan, and Sichuan was 26.49 tons, a month - on - month increase of 0.38 tons [2][114]. 3.1.5 Price - The spot transaction price continues to decline. As of May 9th, compared with April 30th, the prices of various types of industrial silicon in different regions have decreased to varying degrees [8]. 3.2 Polysilicon 3.2.1 Supply - The industry's self - disciplined production cuts continue. In April, the polysilicon output was 9.54 tons, a month - on - month decrease of 0.07 tons and a year - on - year decrease of 8.58 tons. In May, some silicon material plants will have new production capacity, but many enterprises also have production cut arrangements. It is expected that the production in May will decline to around 9 tons [63][64]. 3.2.2 Demand - Downstream purchasing willingness is low, and the mentality of bargaining is obvious. The long - term component orders have significantly decreased, the price of photovoltaic components has continued to decline, and the demand for battery cells from the component side has decreased [2]. 3.2.3 Inventory - As of May 8th, the polysilicon inventory was 25.7 tons, a decrease of 0.4 tons [64]. 3.2.4 Price - As of May 9th, compared with April 30th, the prices of N - type materials, re - feeding materials, dense materials, and cauliflower materials remained unchanged [8]. 3.3 Organic Silicon 3.3.1 Supply - In April, the operating rate of China's DMC was 58.58%, a month - on - month decrease of 5.11 percentage points, and the output was 17.28 tons, a month - on - month decline. Although the operating rate rebounded slightly last week, it is expected to continue to decline in May, and the subsequent operating load may be further reduced to around 55% [85]. 3.3.2 Price - Organic silicon prices have continued to decline. As of May 9th, the average price of DMC was 11,550 yuan/ton, a month - on - month decrease of 0.43%; the average price of 107 glue was 12,400 yuan/ton, a month - on - month increase of 0.81%; the average price of silicone oil was 14,250 yuan/ton, a month - on - month decrease of 1.04% [91]. 3.4 Silicon - Aluminum Alloy 3.4.1 Supply - In the week of May 8th, the operating rate of primary aluminum alloy was 55.2%, a month - on - month increase of 0.2 percentage points; the operating rate of recycled aluminum alloy was 55%, a month - on - month increase of 2.5 percentage points [100]. 3.4.2 Price - Aluminum alloy prices have decreased. As of May 8th, the average price of ADC12 was 20,300 yuan/ton, a month - on - month decrease of 0.98%; the average price of A356 was 20,050 yuan/ton, a month - on - month decrease of 2.20% [103].
甲醇周报:等待反弹后的沽空机会-20250514
Hong Yuan Qi Huo· 2025-05-14 08:59
Report Industry Investment Rating No relevant content provided. Core View of the Report The report suggests waiting for short - selling opportunities after the rebound of methanol contract 09. The reasons are that the macro - sentiment - driven rally is unsustainable, the supply of domestic coal - based methanol is recovering rapidly despite the uncertainty of Iranian imports, and the relative valuation of methanol is not low. Therefore, methanol lacks the potential for long - positions [4][42]. Summary According to the Directory 1. Market Review From May 6th to May 13th, methanol prices oscillated upwards after the holiday. This was due to better - than - expected Sino - US tariff negotiations improving market risk appetite and the potential import shortfall from Iran in May as some Iranian plants were under - loaded or under maintenance [4][9][42]. 2. Basis and Spread The basis in East China weakened slightly. The basis in East China decreased from 181 yuan/ton on May 6th to 139 yuan/ton on May 13th. The 09 - 01 spread remained stable, changing from - 69 yuan/ton on May 6th to - 63 yuan/ton on May 13th [10]. 3. Supply - side Analysis 3.1 Cost and Operation High profits have accelerated the return of domestic coal - based methanol production. As of May 13th, the prices of Qinhuangdao and Datong thermal coal decreased. By May 8th, the weekly operating rate of coal - based methanol enterprises reached 81.46%, up 1.66 percentage points week - on - week and 4.95 percentage points year - on - year, while the weekly operating rate of gas - based methanol enterprises was 49.57%, flat week - on - week and up 6.78 percentage points year - on - year [15]. 3.2 Inventory Both port and domestic inventories of methanol are low. Iranian imports may decline in late May, potentially causing a temporary shortage of port supplies. As of May 8th, the inventory in East China ports was 23.86 million tons, up 0.94 million tons week - on - week and down 8.74 million tons year - on - year; the inventory in South China ports was 17.65 million tons, up 5.71 million tons week - on - week and up 5.43 million tons year - on - year; the inventory in the Northwest region was 19.2 million tons, up 2.1 million tons week - on - week and down 6.8 million tons year - on - year [21]. 4. Demand - side Analysis 4.1 MTO Demand The profit of coastal MTO plants is relatively high, while that of domestic plants is poor. The MTO plant of Jiangsu Sierbang is expected to restart in late May, and most other coastal external - procurement plants have room for capacity improvement. As of May 8th, the weekly operating rate of downstream methanol - to - olefins was 75.99%, down 2.08 percentage points week - on - week and down 6.84 percentage points year - on - year; the weekly operating rate of external - procurement methanol - to - olefins enterprises was 67.17%, up 2.66 percentage points week - on - week and down 16.66 percentage points year - on - year [26]. 4.2 Traditional Demand The traditional downstream sectors of methanol, such as acetic acid, MTBE, formaldehyde, and dimethyl ether, have poor profits, and the traditional demand is generally weak, providing little positive support [33]. 5. Summary and Outlook The market situation is the same as in the market review. The view is to wait for short - selling opportunities after the rebound, and the reasons are consistent with the core view of the report. The strategy is to wait for short - selling opportunities after the rebound [42][43].
甲醇日评:宏观利多继续提振,进口预期或有变化-20250514
Hong Yuan Qi Huo· 2025-05-14 06:56
| | [重要资讯】 | | --- | --- | | 资讯 | 国内期价: 甲醇圭力MA2509延续涨势, 开2290元/吨, 收2291元/吨, 涨46元/吨, 成交766445手, 持仓764050, 放量 增仓。交易日内合约均有成交; | | | 国外资讯:中东某国家3套总体560万吨甲醇装置降负运行,5月中下旬中东仍有其它甲醇装置计划停车检修。 | | | 【交易策略】 | | | 前一交易日, MA震荡走高, 09收于2329。昨日晚间美国CPl数据低于预期, 提振美联储降息预期, 多数商品继续上涨, 原 | | 小结 | 油反弹力度较大,甲醇继续跟随。不过从甲醇自身基本面来看,5月份甲醇利多有限,目前容易存在预期差的地方是伊朗进 口, 此前市场对于5月伊朗进口的预期是延续回升, 不过近期有部分装置因原料问题降负及检修, 关注后续变动。策略建 | | | 议:短期观望。(观点评分:0) | | | 本报告分析及建议所依据的信息均来源于公开资料,本公司对这些信息的准确性和完整性不作任何保证,也不保证所依据的 信息和建议不会发生任何变化。我们已力求报告内容的客观、公正,但文中的观点、结论和建议仅供参 ...
碳酸锂日评:国内碳酸锂5月供给预期偏松,国内碳酸锂社会库存量初现下降-20250514
Hong Yuan Qi Huo· 2025-05-14 06:07
Report Industry Investment Rating - Not provided Core View of the Report - The supply of domestic lithium carbonate in May is expected to be loose, and the price of lithium carbonate is likely to fall rather than rise. It is recommended that investors mainly lay out short positions when the price rebounds. Pay attention to the support level around 30,000 - 63,000 and the resistance level around 68,000 - 73,000/75,000 [5] Summary of Relevant Catalogs 1. Lithium Carbonate Futures Market - **Price and Volume Data**: On May 13, 2025, the closing prices of the near - month, consecutive - one, consecutive - two, and consecutive - three contracts of lithium carbonate futures decreased compared to the previous day. The trading volume of the active contract decreased by 96,901 hands, while the open interest increased by 9,895 hands. The inventory increased by 93 tons [1] - **Spread and Basis Data**: The spreads between different contracts and the basis also changed. For example, the spread between the near - month and consecutive - one contracts decreased by 200 yuan, and the basis (SMM battery - grade lithium carbonate average price - lithium carbonate active contract closing price) increased by 820 yuan [1] 2. Lithium Spot Market - **Lithium Ore and Lithium Compound Prices**: The prices of lithium spodumene concentrate, lithium mica, and various lithium compounds such as lithium carbonate, lithium hydroxide, and hexafluorophosphate showed different degrees of decline or stability on May 13, 2025, compared to the previous day [1] - **Price Difference Data**: The price differences between different grades of lithium compounds also changed. For example, the price difference between battery - grade lithium hydroxide and battery - grade lithium carbonate decreased by 100 yuan [1] 3. Industry News - **Project Construction**: On May 10, 2020, the 2GWh lithium iron phosphate energy - storage battery manufacturing project of Zhejiang Jiaxing Aolifu Photovoltaic Technology Co., Ltd. in Wudalianchi Economic Development Zone, Heilongjiang Province, with an investment of 780 million yuan, is targeted to be put into production by the end of October this year. Tianci Materials is actively promoting local production capacity construction in the United States and Morocco to expand overseas markets for electrolytes and hexafluorophosphate [2] - **Tariff Policy**: On May 10, the China - US joint statement on the economic and trade meeting indicated a general reduction in tariffs on China. The import tariffs on Chinese automotive and non - automotive lithium batteries in the US decreased to 8.1% and about 11% respectively, which is a significant positive for the lithium - battery industry's exports to the US [3] 4. Supply and Demand Analysis - **Supply Side**: The 30,000 - ton wet - process project of Tianqi Lithium's Greenbushes plant may be put into production in October 2025, which may lead to a decline in the price of domestic lithium ore and an increase in production or imports in May. The production of domestic lithium carbonate in May is expected to increase, and the supply is expected to be loose. Some production lines will undergo inspections, and new production capacities are planned to be built [4] - **Demand Side**: The monthly average production cost of lithium iron phosphate with different production processes in China is 11,000 - 13,000 yuan/ton, and the production and inventory in May may increase. The production of some lithium - battery materials such as cobalt - containing compounds may also change due to various factors [4][5]
沪铜日评:国内铜冶炼厂5月检修产能或环增,国内电解铜社会库存量环比增加-20250514
Hong Yuan Qi Huo· 2025-05-14 06:07
Report Summary 1. Industry Investment Rating No industry investment rating is provided in the report. 2. Core View The report indicates that although the US tariff increase on China has decreased, due to the approaching traditional consumption off - season and the increase in China's electrolytic copper social inventory compared to last week, the price of Shanghai copper may be strong first and then weak. It is recommended that investors wait and see, and pay attention to the support and pressure levels of Shanghai copper, London copper, and US copper [4]. 3. Summary by Related Content Macro - economic Situation - The US Senate and House of Representatives reached an agreement on the budget resolution on April 10, including a reduction of $5.8 trillion in spending over the next decade, a $5 - trillion increase in the debt ceiling, and a $4 - billion reduction in government spending. The Trump administration proposed to cut the federal fiscal budget by $163 billion in 2027. The manufacturing and service PMI and employment data in April were better than expected, and the consumer - end inflation annual rate in April was 2.3%, lower than expected, which postponed the Fed's interest - rate cut expectation to October/December [4]. Copper Supply and Production - **Mine Production**: The Escondida mine's copper production in March increased by 18.9% year - on - year to 120,600 tons. The state - owned miner Codelco's copper production in August increased by 14.8% year - on - year to 123,200 tons. The copper production of COMEX copper futures active contract showed an upward trend, and the total inventory also increased [2]. - **Project Investment**: Jincheng plans to acquire 80% of the equity of ZIEL company in Colombia for $10 million and invest $2.3 billion in the Lacceaf gold - silver mine project. The Alacran mine project has an investment budget of $4.204 billion, with a 2 - year construction period [2]. - **Production Changes**: Peru's Antamina copper mine is gradually resuming production. Poland's KGHM's Sierra Corda copper mine in Chile and Kazakhstan's copper mine in the Ural region suspended production. Some copper smelters in China and abroad have production changes, such as the suspension of production for maintenance, new production capacity, etc., which may affect the production and import of copper concentrates, blister copper, and electrolytic copper [4]. Copper Market Data - **Shanghai Copper Futures**: On May 13, 2025, the closing price of the Shanghai copper futures active contract was 78,090 yuan, down 170 yuan from the previous day. The trading volume was 90,876 lots, a decrease of 34,221 lots. The open interest was 181,940 lots, a decrease of 5,790 lots. The inventory was 29,157 tons, an increase of 9,073 tons [2]. - **Spot Price**: The average price of SMW 1 electrolytic copper was 78,155 yuan, down 120 yuan from the previous day. The Shanghai copper basis was 65 yuan, an increase of 50 yuan [2]. - **International Copper Market**: The closing price of LME 3 - month copper futures (electronic trading) was $9,599.5, up $79 from the previous day. The closing price of COMEX copper futures active contract was $4.7085, up $0.05 from the previous day [2]. Downstream Market - The new orders and long - term order executions of refined copper rod enterprises have significantly decreased, resulting in a decrease in the capacity utilization rate of refined copper rods compared to last week, while the capacity utilization rate of recycled copper rods has increased. The raw material and finished - product inventories of refined copper rod enterprises have decreased, and those of recycled copper rod enterprises have increased [4]. - Due to the expected suspension of reciprocal tariffs by the Trump administration and domestic economic stimulus measures, the capacity utilization rate, production, import, and export of downstream copper enterprises may decline [4].
宏源期货日刊-20250514
Hong Yuan Qi Huo· 2025-05-14 02:54
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工业硅、多晶硅日评:工业硅上方压力较强,多晶硅波动加剧-20250514
Hong Yuan Qi Huo· 2025-05-14 02:48
Report Industry Investment Rating - Not provided in the content Core Viewpoints of the Report - The industrial silicon market shows a pattern of strong supply and weak demand, with high inventory pressure. It is expected to maintain a weak trend in the short - term, trading between 8,000 - 10,000 yuan/ton [1]. - Due to factors such as delivery and supply - side reform news, the polysilicon price has rebounded from a low level. In the short - term, the weak fundamentals conflict with delivery issues, leading to increased price fluctuations and a stable - to - rising price trend [1]. Summary by Related Catalogs Price Changes - **Industrial Silicon**: The average price of industrial silicon grade 553 (East China) remained flat at 9,000 yuan/ton, and the average price of 421 (East China) remained flat at 10,000 yuan/ton. The closing price of the futures main contract decreased by 1.08% to 8,230 yuan/ton. The price of grade 553 in Sichuan decreased by 1.11% to 8,900 yuan/ton, while other regions remained unchanged [1]. - **Polysilicon**: The prices of N - type dense material, polysilicon re - feed material, polysilicon dense material, and polysilicon cauliflower material remained flat. The closing price of the futures main contract decreased by 0.47% to 38,270 yuan/ton [1]. - **Silicon Wafer**: The prices of various types of silicon wafers, including N - type 210mm, N - type 210R, N - type 183mm, P - type 210mm, and P - type 182mm, remained unchanged [1]. - **Battery Chip**: The prices of single - crystal PERC battery chips M10 - 182mm and G12 - 210mm remained flat [1]. - **Component**: The prices of single - sided and double - sided single - crystal PERC components of different sizes remained unchanged [1]. - **Organic Silicon**: The prices of DMC, 107 glue, and silicone oil remained flat [1]. Industry News - On April 29, 2025, SEG Solar's battery chip intelligent manufacturing plant in Indonesia held a ceremony for the first chip offline. The average conversion efficiency of the N - type battery chips reached 26.4%. The initial phase plans 4 production lines with an annual capacity of 2GW, and it is expected to expand to 5GW in the future [1]. - On May 9, Hainan Power Grid and other units announced that the total open - capacity of distributed photovoltaic power grids in Hainan Province in the first quarter of 2025 was 1GW, mainly concentrated in 7 cities and counties [1]. - On May 12, the Shanxi Energy Bureau announced the list of the first batch of wind and photovoltaic power generation projects to be abolished in 2025, with a total scale of 591,947 kilowatts, including 10 photovoltaic projects with a total capacity of 487.95MW and 4 wind power projects with a total capacity of 104MW [1]. Investment Strategies - **Industrial Silicon**: In April, the production of industrial silicon decreased to about 300,000 tons due to production cuts in Xinjiang. In May, production is expected to increase steadily but with limited growth. On the demand side, polysilicon enterprises continue to cut production, organic silicon enterprises have a strong willingness to cut production to support prices but face weak demand, and silicon - aluminum alloy enterprises purchase on - demand. It is expected that the operating range will be 8,000 - 10,000 yuan/ton [1]. - **Polysilicon**: Silicon material enterprises continue to cut production, and some new production capacities may be put into operation, with an expected output of less than 100,000 tons. The photovoltaic market is weak, with rising inventories and falling prices of silicon wafers, battery chips, and components. Due to delivery and supply - side reform news, the price has rebounded. In the short - term, price fluctuations will intensify, and long positions can be considered [1].
宏源期货豆类油脂周报:豆类即将企稳,油脂区间震荡-20250513
Hong Yuan Qi Huo· 2025-05-13 09:32
Report Industry Investment Rating No relevant information provided. Core View of the Report - The bottom of the bean market has emerged, and it is expected to stabilize and rebound later. The prices of domestic soybeans and soybean meal have basically stabilized after last week's decline, and the probability of an upward trend in tandem with the external soybean market is high. The prices of oils are expected to remain weak and consolidate at relatively low levels, waiting for a rebound opportunity. In the medium term, oils will maintain a range-bound pattern [3][41][45]. Summary by Related Catalogs Soybeans and Soybean Meal - **Supply Changes** - In March 2025, China's soybean imports were 3.5 million tons, a year-on-year decrease of 36.8%, the lowest level in the same period since 2008. From January to March, the cumulative imports were 17.109 million tons, a year-on-year decrease of 7.9% [4]. - The USDA's May report shows that Brazil's 2024/25 soybean production is expected to be 175 million tons, an increase of 6 million tons from April; Argentina's 2024/25 soybean production is 48.5 million tons, a decrease of 0.5 million tons; the US soybean production is 118 million tons, a decrease of 0.7 million tons from April, and the global ending stocks have slightly decreased [4]. - In March, the US soybean crush was 6.2 million short tons (about 207 million bushels), significantly higher than the market - expected average of 205.5 million bushels, and reached the upper limit of the forecast range, a 9% increase from February and a 1.5% increase from the same period in 2024 [4]. - **Demand Side** - The soybean meal inventory is gradually decreasing, and the daily trading volume is average. After the seasonal peak demand, the demand for soybean meal has weakened [4]. - The price of live pigs is gradually rebounding, and the slaughter volume is increasing [4]. - **Weather Factors** - In the next two weeks, the temperature in South America will be normal [8]. - **South American Sales Situation** - The sales of old - crop South American soybeans are nearing the end, and Brazilian soybeans are basically sold out. As of April 9, 2023/24 Argentine soybean sales reached 39.8413 million tons, with a progress of 82.64% [11]. - **US Soybean Planting Progress** - As of May 12, 2025, the US soybean planting progress reached 48%, higher than the five - year average of 37%, but 6 percentage points behind the same period in 2024 [12]. - **Arrival Quantity** - Soybean imports rebounded significantly in April, and the later supply of soybean meal will be sufficient. The estimated arrival quantities from February to June are 5 million tons, 6.5 million tons, 8.35 million tons, 11.5 million tons, and 10.8 million tons respectively [16][18]. - **Soybean Crushing Volume** - After the May Day holiday, the soybean supply became more abundant, and the crushing volume continued to increase seasonally [20]. - **Domestic Supply** - The price of soybean meal has been continuously falling, the soybean meal inventory of crushing plants has slightly increased, which is normal compared with the same period last year, and the soybean port inventory is at the highest level in the same period. Attention should be paid to the downward trend of soybean inventory [26]. - **Soybean Meal Demand** - The spot basis is high, the peak demand for procurement has passed, and the demand growth rate has significantly declined [28]. - **Brazilian Soybean Price** - The Brazilian real exchange rate has fallen to a record low, new soybeans are fully on the market, and the sales enthusiasm is high, resulting in a continuous decline in prices [31]. - **Fund Position** - In May, funds reduced their net short positions in soybeans for the first time, perhaps anticipating a tariff reduction [34]. - **Domestic Soybean Price** - The soybean price in the Northeast production area has been stable with a downward trend, affected by weak demand and the decline of the Dou - 1 futures. The purchase price of low - protein raw soybeans in some areas of Heilongjiang is between 3800 - 3900 yuan/ton [36]. - **Price Spread** - The price spread between Dou - 1 and Dou - 2 continues to widen [38]. Oils - **Overall Situation** - After the mutual reduction of Sino - US tariffs, the crude oil price has gradually stabilized, but the production of Malaysian palm oil has increased significantly, and the price is expected to remain at a relatively low level. Rapeseed oil faces the risk of policy - based tariff reduction, and soybean oil is difficult to rise significantly due to sufficient supply and the off - season of consumption. In the medium term, oils will maintain a range - bound pattern [45]. - **Malaysian Palm Oil** - In April 2025, the estimated production of Malaysian palm oil was 1.73 million tons, a month - on - month increase of 24.62%. The production in different regions has also increased to varying degrees [45][49]. - **Indonesian Palm Oil** - In January, the production and inventory of Indonesian palm oil decreased. The price of palm oil has been rising, exports have decreased, and the inventory has changed little [50][53]. - **Biodiesel Profit** - The profit of palm and soybean biodiesel has rebounded [54]. - **Soybean Oil** - The demand for soybean oil has seasonally declined, the inventory has seasonally increased, and the demand growth rate is at a low level [60]. - **Palm Oil** - Palm oil imports have increased, the inventory has decreased, and the seasonal demand has weakened [62]. - **Rapeseed Oil** - The later arrival quantity of rapeseed oil will gradually increase. The supply pressure of rapeseed oil and rapeseed remains high. The arrival quantities from March to June are 110,000 tons, 305,000 tons, 285,000 tons, and 185,000 tons respectively [64]. - **Inventory - Rapeseed** - The rapeseed oil inventory has changed little, and the rapeseed meal inventory has continuously decreased [67]. - **Rapeseed Crushing Volume** - The rapeseed crushing volume has rebounded, and attention should be paid to the result of the anti - dumping investigation on Canadian rapeseed [73].
尿素早评:尿素偏强震荡-20250513
Hong Yuan Qi Huo· 2025-05-13 06:52
| | | | | 尿素早评20250513: 尿素偏强震荡 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 日度 | | 变化值 单位 5月12日 5月9日 | | | | (绝对值) | 变化值 (相对值) | | UR01 | | | 元/吨 | 1801.00 | 1790.00 | 11.00 | 0.61% | | UR05 | 民素期货价格 | | 元/吨 | 1925.00 | 1935.00 | -10.00 | -0.52% | | UR09 | (收盘价) | | 元/吨 | 1897.00 | 1893.00 | 4.00 | 0.21% | | 山东 期现价格 山西 | | | 元/吨 元/吨 | 1970.00 1890.00 | 1920.00 1890.00 | 50.00 0.00 | 2.60% 0.00% | | 河南 | | | 元/吨 | 1930.00 | 1910.00 | 20.00 | 1.05% | | 国内现货价格 | | | | | | | | | 河北 | (小顆粒) | | 元/ ...