1. Report Industry Investment Rating No relevant content provided. 2. Report's Core View - The U.S. government may end the shutdown, and U.S. stocks rebounded overnight, but the risk of U.S. dollar liquidity still needs attention [3]. - In the domestic market, the rotation of the market has accelerated, with an obvious high - low switch. The large - consumption sector rose significantly on the day, but its sustainability remains to be seen. The semiconductor and new energy sectors declined, and the overall market still supports the index at key levels [3]. 3. Summary by Related Catalogs 3.1 Market Analysis - **International Relations**: The U.S. officially announced a one - year suspension of the 301 investigation measures against China's shipbuilding and other industries. China announced a one - year suspension of the special port dues for U.S. ships and a one - year suspension of countermeasures against five U.S. subsidiaries of Hanwha Ocean Co., Ltd. China also added the U.S., Mexico, and Canada to the export control list of precursor chemicals for specific countries (regions) and separately listed 13 precursor chemicals for these three countries [1]. - **U.S. Government Shutdown**: After a 40 - day government shutdown, the U.S. Senate passed a procedural vote on a temporary appropriation bill to end the shutdown, but the final vote time has not been arranged, and the bill still needs to be voted on by the House of Representatives. It is possible that the U.S. government shutdown will end before this weekend [1]. - **Stock Market**: In the A - share spot market, the three major indexes opened higher and moved higher. The Shanghai Composite Index rose 0.53% to close at 4018.6 points, and the ChiNext Index fell 0.92%. Most industry sectors rose, with the large - consumption sector leading the gains, including beauty care, food and beverage, commerce and retail, and social services. The power equipment, machinery, and electronics sectors led the losses. The trading volume of the two markets in Shanghai and Shenzhen was about 2 trillion yuan. Overseas, the three major U.S. stock indexes all closed higher, with the Nasdaq rising 2.27% to 23527.17 points [1]. - **Futures Market**: In the futures market, the basis of IF, IC, and IM contracts declined. The trading volume of stock index futures increased, and the positions of IH, IF, and IC contracts rose simultaneously [2]. 3.2 Strategy - Overseas, although the U.S. government may end the shutdown and U.S. stocks rebounded overnight, attention should still be paid to the risk of U.S. dollar liquidity [3]. - Domestically, the rotation of the market has accelerated, with an obvious high - low switch. The large - consumption sector rose significantly on the day, but its sustainability remains to be seen. The semiconductor and new energy sectors declined, and the overall market still supports the index at key levels [3]. 3.3 Macroeconomic Charts - Include charts showing the relationship between the U.S. dollar index and A - share trends, U.S. Treasury yields and A - share trends, RMB exchange rate and A - share trends, and U.S. Treasury yields and A - share style trends [7][9]. 3.4 Spot Market Tracking Charts - **Domestic Main Stock Index Daily Performance**: On November 10, 2025, the Shanghai Composite Index closed at 4018.60, up 0.53%; the Shenzhen Component Index closed at 13691.38, up 1.95%; the ChiNext Index closed at 3178.83, down 0.92%; the CSI 300 Index closed at 4695.05, up 0.35%; the SSE 50 Index closed at 3053.86, up 0.51%; the CSI 500 Index closed at 7343.80, up 0.22%; the CSI 1000 Index closed at 7563.25, up 0.28% [13]. - Also include charts of the trading volume of the two markets in Shanghai and Shenzhen and the margin trading balance [14]. 3.5 Stock Index Futures Tracking Charts - **Trading Volume and Position**: The trading volume of IF, IH, IC, and IM contracts increased, and the positions of IH, IF, and IC contracts rose, while the position of the IM contract decreased [16]. - **Basis**: The basis of IF, IC, and IM contracts declined, and specific basis data for different contracts and different periods are provided [38][41]. - **Inter - period Spread**: Data on the inter - period spreads of different contracts and different periods are provided [47][49]. - Also include charts of contract positions, position ratios, and foreign capital net positions of different contracts [17][21][32].

农产品日报 | 2025-11-11 需求仍显疲软，猪价维持震荡 生猪观点 市场要闻与重要数据 市场分析 10月份入场的二次育肥预计出栏时间会在冬至前后，如果价格下降或将有一定提前出栏的风险。从目前的生猪存 栏体重来看未来生猪供应仍处于过剩状态，未来叠加二次育肥的出栏会进一步增加供应压力，整体供强需弱格局 难改。 策略 谨慎偏空 期货方面，昨日收盘生猪 2601合约11955元/吨，较前交易日变动+90.00元/吨，幅度+0.76%。现货方面，河南地区 外三元生猪价格12.14元/公斤，较前交易日变动-0.05元/公斤，现货基差 LH01+185，较前交易日变动+10；江苏地 区外三元生猪价格 12.24元/公斤，较前交易日变动+0.09元/公斤，现货基差LH01+285，较前交易日变动+90；四川 地区外三元生猪价格11.53元/公斤，较前交易日变动+0.00元/公斤，现货基差LH01-425，较前交易日变动-20。 据农业农村部监测，11月10日"农产品批发价格200指数"为125.58，比上周五上升0.34个点，"菜篮子"产品批发价格 指数为127.66，比上周五上升0.39个点。全国农产品批发市场猪肉 ...

Group 1: Report Industry Investment Ratings - The investment rating for both soybeans and peanuts is neutral [4][6] Group 2: Core Views of the Report - For soybeans, the futures market closed slightly lower, and the spot market was stable. The restart of domestic soybean auctions by Cofco may impact prices, and the subsequent temperature drop is expected to boost market demand [1][3] - For peanuts, the futures market oscillated higher. The supply pressure continued to be released, but the demand side had poor承接力. Market attention is on the actions of major oil mills [4][5] Group 3: Summary by Related Catalogs (Soybeans) Market Analysis - Futures: The closing price of the Douyi 2601 contract was 4116.00 yuan/ton, a change of -2.00 yuan/ton (-0.05%) from the previous day [1] - Spot: The edible soybean spot basis was A01 - 36, a change of +2 (+32.14%) from the previous day. The new - season soybean market in Northeast China was stable, with farmers having more remaining grain and some holding a wait - and - see attitude. Downstream traders adopted a demand - based procurement strategy [1][2] Market News - Cofco plans to restart domestic soybean auctions this week, with a total auction volume of 30969 tons. High temperatures in the southern sales area may affect soybean sales, and a temperature drop is expected to increase demand [3] Strategy - The strategy is neutral [4] Group 4: Summary by Related Catalogs (Peanuts) Market Analysis - Futures: The closing price of the Peanut 2601 contract was 7814.00 yuan/ton, a change of +60.00 yuan/ton (+0.77%) from the previous day [4] - Spot: The average peanut spot price was 7840.00 yuan/ton, a change of +10.00 yuan/ton (+0.13%) from the previous day. The spot basis was PK01 - 414.00, a change of -60.00 (+16.95%) from the previous day. The national average price of general peanuts decreased, and oil mills' procurement was limited [4] Market News - The peanut futures market oscillated higher. The supply pressure was released, but most oil mills were on the sidelines, and the demand from food factories was average. There were concerns about a concentrated supply in Henan after rain [5] Strategy - The strategy is neutral, with the risk of weakening demand [6]

1. Report Industry Investment Ratings - Glass: Oscillating weakly [2] - Soda Ash: Oscillating [2] - Ferromanganese: Oscillating strongly [4] - Ferrosilicon: Oscillating strongly [4] 2. Core Views - Glass has large supply - demand contradictions, high inventory, and weak long - term demand due to the approaching end of the consumption peak season and the downturn in the real estate industry [1] - Soda ash has supply - demand contradictions, with downstream rigid demand having resilience, but high inventory suppresses prices and de - stocking pressure persists throughout the year [1] - Ferromanganese enterprises are in continuous losses, with high production and inventory. Its price is expected to resonate with the black series and maintain a wide - range low - level oscillation [3] - Ferrosilicon has high production and inventory, weakening demand, and large inventory pressure. Although costs are rising, prices are still suppressed [3] 3. Summaries by Related Catalogs Glass - Market Analysis: The glass futures market oscillated downward yesterday, with a significant increase in trading volume and open interest. Spot prices were stable with a slight increase, and downstream buyers mainly made purchases as needed [1] - Supply - Demand and Logic: Supply - demand contradictions are large, inventory is high, and long - term demand is not optimistic. Attention should be paid to changes in glass production lines [1] - Strategy: Oscillating weakly [2] Soda Ash - Market Analysis: The soda ash futures market oscillated upward yesterday. Downstream buyers showed strong wait - and - see sentiment and mainly made low - price rigid - demand purchases [1] - Supply - Demand and Logic: Supply - demand contradictions remain. Downstream rigid demand has resilience, but high inventory suppresses prices. Attention should be paid to supply and cost changes [1] - Strategy: Oscillating [2] Ferromanganese - Market Analysis: The ferromanganese futures main contract rose slightly yesterday. At the beginning of the week, the ferromanganese market had strong wait - and - see sentiment, waiting for new steel procurement guidelines. The price in the northern market was 5550 - 5600 yuan/ton, and in the southern market was 5580 - 5620 yuan/ton [3] - Supply - Demand and Logic: Ferromanganese enterprises are in continuous losses, but production remains at a medium - high level, and enterprise inventory has reached a five - year high. The price is expected to resonate with the black series and maintain a wide - range low - level oscillation. Attention should be paid to manganese ore cost support and regional policies [3] - Strategy: Oscillating strongly [4] Ferrosilicon - Market Analysis: The ferrosilicon futures main contract rose slightly yesterday. The ferrosilicon market had little fluctuation, and the market mainly focused on order fulfillment. The price of 72 - grade ferrosilicon natural lumps in the main production areas was 5150 - 5250 yuan/ton, and 75 - grade ferrosilicon was priced at 5700 yuan/ton [3] - Supply - Demand and Logic: Ferrosilicon has high production and inventory, weakening demand, and large inventory pressure. Although costs are rising, prices are still suppressed. Attention should be paid to cost changes in coal and electricity prices and regional policies [3] - Strategy: Oscillating strongly [4]

Report Industry Investment Rating - Unilateral: Cautiously bearish, mainly on the sidelines in the short term; No suggestions for inter - period, inter - variety, spot - futures, and options [2] Core View - The asphalt market's weakness has not yet turned around, but the spot and futures prices have dropped significantly. Attention should be paid to the release of winter storage demand to provide some downside support, and caution is advised [1] Summary by Related Catalogs Market Analysis - On November 10, the closing price of the main BU2601 contract of asphalt futures in the afternoon session was 3036 yuan/ton, down 36 yuan/ton or 1.17% from the previous settlement price. The open interest was 208,668 lots, a decrease of 5,598 lots from the previous day, and the trading volume was 259,174 lots, a decrease of 50,273 lots [1] - The spot settlement prices of heavy - traffic asphalt from Zhuochuang Information are: 3,156 - 3,750 yuan/ton in the Northeast, 2,950 - 3,620 yuan/ton in Shandong, 3,200 - 3,400 yuan/ton in South China, and 3,400 - 3,500 yuan/ton in East China. The asphalt spot price in the Northwest market was relatively stable yesterday, while prices in other regions declined to varying degrees [1] - The current terminal demand for asphalt is weak, and demand in the North will further decline in winter. Refineries with quotas have relatively good profit margins, and recently, low - price forward contract prices have been intensively released in North China and Shandong, suppressing the spot market. The downstream's willingness to buy at the bottom is still poor [1] Strategy - Unilateral: Cautiously bearish, mainly on the sidelines in the short term; No suggestions for inter - period, inter - variety, spot - futures, and options [2] Figures - The report includes figures on asphalt spot prices in various regions (Shandong, East China, South China, North China, Southwest, Northwest), asphalt futures prices (index, main contract, near - month contract, near - month spread), trading volume and open interest of asphalt futures (unilateral, main contract), domestic asphalt weekly production, asphalt production of independent refineries and in different regions (Shandong, East China, South China, North China), domestic asphalt consumption in different fields (road, waterproofing, coking, ship fuel), and asphalt inventories (refinery, social) [3]

Report Industry Investment Rating - The rating for PX/PTA/PF/PR is neutral [3] Core Viewpoints - Under the expectation of anti-involution, PTA fluctuates strongly. The oil price fluctuates, and the market trades around the geopolitical situation between Russia and Ukraine and the news of OPEC+ production increase in December. In November, there are many maintenance plans for PTA, so the pressure of inventory accumulation is not great. However, after December, as demand weakens, the pressure of inventory accumulation will gradually emerge. In the long term, as the cycle of concentrated capacity release ends, the PTA processing fee is expected to gradually improve, but the spot supply in the market is relatively abundant, and the upside space of the 01 contract is limited. The polyester start-up rate is 91.3% (down 0.4% month-on-month). The domestic sales orders have improved significantly since late October. The inventory of polyester factories is not high, and the polyester load is expected to remain around 91% in November. The fundamentals of PF are okay, and the processing difference is maintained. For PR, the spot processing fee of bottle chips is expected to fluctuate within a range, and attention should be paid to the raw material price fluctuations [1][2][3] Summary by Directory I. Price and Basis - It includes the TA main contract, basis, and inter-period spread trends; PX main contract trends, basis, and inter-period spread; PTA East China spot basis; and short fiber 1.56D*38mm semi-gloss natural white basis [7][8][10] II. Upstream Profits and Spreads - It covers the PX processing fee PXN, PTA spot processing fee, South Korean xylene isomerization profit, and South Korean STDP selective disproportionation profit [15][18] III. International Spreads and Import-Export Profits - It involves the toluene US-Asia spread, toluene South Korean FOB - Japanese naphtha CFR, and PTA export profit [23][25] IV. Upstream PX and PTA Start-up - It includes the start-up rates of PTA in China, South Korea, and Taiwan, as well as the PX start-up rates in China and Asia [26][29][30] V. Social Inventory and Warehouse Receipts - It contains the weekly social inventory of PTA, monthly social inventory of PX, PTA total warehouse receipts + forecast volume, PTA warehouse receipt inventory, PX warehouse receipt inventory, and PF warehouse receipt inventory [33][36][37] VI. Downstream Polyester Load - It includes the sales volume of filament and short fiber, polyester load, direct-spun filament load, polyester staple fiber load, polyester bottle chip load, inventory days of filament factories, and the start-up rates of weaving, texturing, and dyeing in Jiangsu and Zhejiang [44][46][56] VII. PF Detailed Data - It covers the load of polyester staple fiber, factory equity inventory days, 1.4D physical inventory, 1.4D equity inventory, load of recycled cotton-type staple fiber, spread between original and recycled fibers, start-up rates of pure polyester yarn and polyester-cotton yarn, and their production profits and processing fees [66][67][75] VIII. PR Fundamental Detailed Data - It includes the load of polyester bottle chips, bottle chip inventory days of bottle chip factories, spot processing fee of bottle chips, export processing fee of bottle chips, export profit of bottle chips, spread between East China water bottle chips and recycled 3A-grade white bottle chips, and the month-on-month spreads of bottle chips [83][85][95]

Group 1: Industry Investment Rating - No information provided Group 2: Core Views - For industrial silicon, the supply - demand pattern may improve due to the slight increase in spot prices and production cuts during the dry season in the southwest. The industrial silicon futures price is mainly affected by overall commodity sentiment and policy - related news. With the expected increase in silicon - coal prices, there is some support for industrial silicon. If there are relevant capacity - exit policies, the futures price may rise [2][4]. - For polysilicon, the supply - demand fundamentals have slightly improved, but there is still significant inventory pressure. The downstream production schedule may weaken, and consumer support is average. The futures price is affected by anti - involution policies and weak market reality, and is expected to fluctuate mainly [5][8]. Group 3: Market Analysis of Industrial Silicon - On November 10, 2025, the industrial silicon futures price showed a strong and volatile trend. The main contract 2601 opened at 9,230 yuan/ton and closed at 9,290 yuan/ton, a change of 120 yuan/ton (1.31%) from the previous settlement. The position of the main contract 2511 was 281,503 lots, and the total number of warehouse receipts was 46,255 lots, a change of 75 lots from the previous day [2]. - The spot price of industrial silicon increased slightly. The price of East China oxygen - passing 553 silicon was 9,400 - 9,600 yuan/ton (a 50 - yuan increase), and 421 silicon was 9,700 - 9,800 yuan/ton (a 50 - yuan increase). The price of Xinjiang oxygen - passing 553 silicon was 8,800 - 8,900 yuan/ton, and 99 silicon was 8,800 - 8,900 yuan/ton, with no change. Silicon prices in some regions such as Kunming, Huangpu Port, and others increased, while the price of 97 silicon remained stable [2]. - In Yunnan, the dry season has arrived. Most silicon enterprises in production stopped production at the end of October, and a few stopped in early November. Currently, there are only over 20 silicon furnaces in production in the entire Yunnan region, and the remaining enterprises are of the integrated or long - order delivery types [2]. - The consumption side: The quotation of organic silicon DMC was 11,000 - 11,300 yuan/ton with no change. Yunneng Silicon Materials' Qujing Branch completed a key technological transformation project, which improved the tank utilization rate to 100% and laid a foundation for process optimization and cost control [3]. Group 4: Strategy for Industrial Silicon - Unilateral: Short - term range operation, buy on dips - No strategies for inter - delivery spread, cross - variety, cash - futures, and options [4] Group 5: Market Analysis of Polysilicon - On November 10, 2025, the main contract 2601 of polysilicon futures maintained a volatile trend, opening at 53,000 yuan/ton and closing at 53,720 yuan/ton, a change of 1.08% from the previous trading day. The position of the main contract was 125,974 lots (125,517 lots the previous day), and the trading volume was 218,786 lots [5]. - The spot price of polysilicon weakened slightly. The price of N - type material was 49.40 - 55.00 yuan/kg, and N - type granular silicon was 50.00 - 51.00 yuan/kg, with no change. Polysilicon manufacturers' inventory increased, while silicon wafer inventory decreased. The latest polysilicon inventory was 25.90 (a month - on - month change of - 0.77%), and silicon wafer inventory was 17.52GW (a month - on - month change of - 7.45%). The weekly polysilicon production was 27,000 tons (a month - on - month change of - 4.30%), and silicon wafer production was 13.45GW (a month - on - month change of - 5.55%) [5][6]. - In October, the polysilicon production was expected to be about 133,500 tons, an increase compared to September, exceeding market expectations. In November, production in the southwest region will be significantly reduced, and production is expected to decline [6]. - Silicon wafer prices: The price of domestic N - type 18Xmm silicon wafers was 1.32 yuan/piece, N - type 210mm was 1.69 yuan/piece, and N - type 210R silicon wafers was 1.34 yuan/piece, with no change [6]. - Battery cell prices: The price of high - efficiency PERC182 battery cells was 0.27 yuan/W, PERC210 was 0.28 yuan/W, Topcon M10 was 0.31 yuan/W, Topcon G12 was 0.30 yuan/W, Topcon 210RN was 0.28 yuan/W, and HJT210 half - piece battery was 0.37 yuan/W, with no change [6]. - Component prices: The mainstream transaction price of PERC182mm was 0.67 - 0.74 yuan/W, PERC210mm was 0.69 - 0.73 yuan/W, N - type 182mm was 0.66 - 0.68 yuan/W, and N - type 210mm was 0.68 - 0.69 yuan/W, with no change [7]. Group 6: Strategy for Polysilicon - Unilateral: Short - term range operation, the 12 - contract is expected to fluctuate in the range of 52,000 - 57,000 yuan/ton - No strategies for inter - delivery spread, cross - variety, cash - futures, and options [8][9]

1. Report Industry Investment Rating - Not provided in the content 2. Core View of the Report - The supply and demand of polyolefins remain under pressure, and the prices continue to fluctuate at the bottom. PE is facing a situation of strong supply and weak demand, with limited cost - side support and short - term price pressure. PP has supply - demand contradictions, weak cost - side support, and short - term prices will continue to fluctuate weakly [1][2][3] 3. Summary According to the Directory I. Polyolefin Basis Structure - The figures include the plastic main contract, LL East China basis, polypropylene main contract, and PP East China basis [8][9] II. Production Profit and Operating Rate - PE production profit from crude oil, PE capacity utilization rate, PP production profit from crude oil, PP production profit from PDH, polypropylene capacity utilization rate, and PP weekly output are presented in the figures [16][19][20] III. Polyolefin Non - Standard Price Difference - The figures show the price differences such as HD injection - LL East China, HD blow - molding - LL East China, etc., as well as the polypropylene maintenance loss volume and PDH capacity utilization rate [27][33] IV. Polyolefin Import and Export Profits - Figures cover LL import profit, LL export - related price differences, PP import profit, and PP export profit (to Southeast Asia) [40][52] V. Polyolefin Downstream Operating Rate and Downstream Profits - The downstream operating rates of PE (agricultural film, packaging film, etc.) and PP (plastic weaving, BOPP, etc.) and the production profits of PP downstream plastic weaving and BOPP are shown in the figures [63][71] VI. Polyolefin Inventory - The inventories of PE (oil - based enterprises, coal - chemical enterprises, traders, ports) and PP (oil - based enterprises, coal - chemical enterprises, traders, ports) are presented in the figures [72][82][84]

Report Industry Investment Rating - All three industries (cotton, sugar, and pulp) are rated as neutral [3][6][7] Core Viewpoints of the Report - The cotton market has short - term supply pressure and weak demand, but in the long - term, the supply - demand situation is not overly loose and the price is expected to be positive after seasonal pressure [2][3] - The sugar market is in a bearish cycle in the 25/26 season with a surplus pattern. The domestic sugar price may be supported in the short - term but is not optimistic in the long - term [5][6] - The pulp market has a loose supply situation, weak demand, and although the price is currently strong due to macro - sentiment, the fundamental improvement is limited and the upside space may be restricted [6][7] Summary by Related Catalogs Cotton Market News and Key Data - Futures: The closing price of cotton 2601 contract was 13,580 yuan/ton, with no change from the previous day [1] - Spot: The Xinjiang arrival price of 3128B cotton was 14,671 yuan/ton, down 7 yuan/ton from the previous day; the national average price was 14,844 yuan/ton, down 15 yuan/ton from the previous day [1] - From October 31 to November 6, 2025/26 US cotton grading inspection was 230,400 tons, with 82.6% of lint meeting ICE cotton futures delivery requirements [1] Market Analysis - Internationally, the macro - sentiment has improved, but the supply pressure is being released and the consumption is weak, so the short - term rebound space of the outer market is limited [2] - Domestically, the expected new cotton output has declined, the seed cotton purchase price has stabilized and rebounded, but the overall new cotton is still expected to increase in production and the demand is insufficient [2] Strategy - Take a neutral stance. In the short - term, there is a possibility of a price correction, while in the long - term, the cotton price can be viewed optimistically after seasonal pressure [3] Sugar Market News and Key Data - Futures: The closing price of sugar 2601 contract was 5,475 yuan/ton, up 18 yuan/ton from the previous day [4] - Spot: The sugar spot price in Nanning, Guangxi was 5,760 yuan/ton, up 10 yuan/ton from the previous day; in Kunming, Yunnan, it was 5,650 yuan/ton, with no change from the previous day [4] - The Indian government has allowed 1.5 million tons of sugar exports in the 2025/26 season and cancelled the 50% export tariff on molasses [4] Market Analysis - The Brazilian sugar export is strong and the Indian new - season production is expected to rebound, suppressing market confidence. The global sugar market may be in a bearish cycle in the 25/26 season [5] - Domestically, the new - season sugar production is expected to increase, but the price has fallen to the cost line and the syrup control policy provides short - term support [5] Strategy - Adopt a neutral strategy. Before the Spring Festival, view the sugar price as oscillating. In the long - term, the domestic supply - demand is expected to be loose and the price may hit new lows [6] Pulp Market News and Key Data - Futures: The closing price of pulp 2601 contract was 5,468 yuan/ton, up 74 yuan/ton from the previous day [6] - Spot: The spot price of Chilean Silver Star softwood pulp in Shandong was 5,525 yuan/ton, up 25 yuan/ton from the previous day; the price of Russian softwood pulp was 5,085 yuan/ton, up 25 yuan/ton from the previous day [6] - The import wood pulp spot market price was rising, with some prices of imported softwood pulp and hardwood pulp increasing by 20 - 100 yuan/ton and 20 - 80 yuan/ton respectively [6] Market Analysis - Supply: The European pulp port inventory in September decreased month - on - month but was still at a relatively high level, and the domestic pulp import increased again in September with high port inventory [6] - Demand: The pulp consumption in Europe and the US is weak, and the domestic demand is the core factor suppressing the pulp price. The terminal demand is insufficient and the paper mills' raw material procurement is cautious [6] Strategy - Take a neutral stance. The current pulp price is strong due to macro - sentiment, but the fundamental improvement is limited, and attention should be paid to the demand in the fourth quarter [7]

新能源及有色金属日报 | 2025-11-11 铜价高位震荡抑制下游采购意愿 市场要闻与重要数据 期货行情： 2025-11-10，沪铜主力合约开于 86110元/吨，收于 86480元/吨，较前一交易日收盘0.63%，昨日夜盘沪铜主力合约 开于 86,790元/吨，收于 86,500 元/吨，较昨日午后收盘上涨0.20%。 现货情况： 据 SMM 讯，SMM 1#电解铜现货报价86360~86710元/吨，均价升水55元/吨，较前日上涨15元/吨。早间价格先扬 后抑，整体仍呈Contango结构。市场交投活跃度提升，持货商高报低走，平水以下成交增多。好铜资源持续紧俏， 金川大板升水100~130元/吨迅速成交，贵溪铜难觅。上海地区库存下降，主因前期铜价回落后下游集中补库。当前 铜价高位运行抑制采购意愿，预计本周主流成交仍将围绕平水附近展开。 重要资讯汇总： 关税方面，美国正式宣布暂停实施对华造船等行业301调查措施一年；而中方宣布暂停对美船舶收取船舶特别港务 费一年，以及暂停对韩华海洋株式会社5家美国相关子公司实施反制措施一年。美国政府方面，在经历了长达40天 的政府"停摆"后，美国国会参议院程序性投票通过 ...