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股指期权日报-20251114
Hua Tai Qi Huo· 2025-11-14 05:24
Report Industry Investment Rating - Not provided Core Viewpoints - Not provided Summary by Directory Option Trading Volume - On November 13, 2025, the trading volume of SSE 50 ETF options was 915,600 contracts; the trading volume of CSI 300 ETF options (Shanghai market) was 1,125,500 contracts; the trading volume of CSI 500 ETF options (Shanghai market) was 1,777,500 contracts; the trading volume of Shenzhen 100 ETF options was 49,900 contracts; the trading volume of ChiNext ETF options was 2,130,800 contracts; the trading volume of SSE 50 index options was 41,000 contracts; the trading volume of CSI 300 index options was 121,100 contracts; the total trading volume of CSI 1000 options was 308,500 contracts [1] - The table shows the call, put, and total trading volumes of various index ETF options on the previous day, such as 425,200 call contracts and 415,300 put contracts for SSE 50 ETF options, with a total of 840,500 contracts [20] Option PCR - The turnover PCR of SSE 50 ETF options was reported at 0.57, with a month - on - month change of - 0.10; the position PCR was reported at 1.04, with a month - on - month change of + 0.06. Similar data are provided for other types of options [2] - The table presents the turnover PCR, month - on - month change, position PCR, and month - on - month change of various index ETF options [31] Option VIX - The VIX of SSE 50 ETF options was reported at 16.90%, with a month - on - month change of - 0.34%. Similar data are given for other types of options [3] - The table shows the VIX and month - on - month change values of various index ETF options [47]
原油日报:尼日利亚丹格特炼厂RFCC将于12月停产检修-20251114
Hua Tai Qi Huo· 2025-11-14 05:21
Report Summary 1. Core Viewpoints - The shutdown of the RFCC unit at Nigeria's Dangote refinery in December will intensify the global gasoline shortage and reduce WTI crude oil procurement, negatively impacting crude oil demand [2]. - The recent divergence between the crude oil and refined oil markets is due to the limited upward flexibility of refinery operations under refinery capacity elimination and the continuous tightness of refining capacity caused by Ukraine's attacks on Russian refineries [2]. 2. Market Data - On the New York Mercantile Exchange, the December - delivery light - sweet crude oil futures rose 20 cents to $58.69 a barrel, a 0.34% increase; the January - delivery Brent crude oil futures in London rose 30 cents to $63.01 a barrel, a 0.48% increase. The SC crude oil main contract closed down 0.62% at 452 yuan per barrel [1]. - For the week ending November 7 in the US, EIA Cushing crude oil inventory decreased by 346,000 barrels (previous value: 300,000 barrels), EIA crude oil inventory was 6.413 million barrels (expected: 1.96 million barrels, previous value: 5.202 million barrels), and EIA strategic petroleum reserve inventory was 798,000 barrels (previous value: 498,000 barrels) [1]. - The IEA monthly report forecasts the global crude oil demand growth rate in 2025 to be 788,000 barrels per day (previously expected: 710,000 barrels per day), with the total demand in 2026 expected to average 104.7 million barrels per day. OPEC + supply is expected to increase by 1.4 million barrels per day by 2025 and 1.3 million barrels per day by 2026. It also expects the growth of oil demand to slow down in the fourth quarter while supply will further increase [1]. 3. Industry News - The Trump administration has lifted restrictions on oil exploration in the 23 - million - acre Alaska National Petroleum Reserve, reversing a ban implemented by former President Biden. Alaska predicts that the oil field's crude oil production will rise to 139,600 barrels per day in fiscal year 2033, a significant increase from 15,800 barrels per day in fiscal year 2023 [1]. - South Sudan is asking crude oil producers to prepay a total of $2.5 billion and plans to repay through future production that originally belongs to Malaysia's national oil company. South Sudan's national treasury is depleted, and over 90% of its government revenue depends on crude oil exports, which have been almost entirely frozen due to the war in neighboring Sudan [1]. 4. Investment Strategy - In the short term, oil prices are expected to fluctuate weakly; in the medium term, a short - position allocation is recommended, with a strategy of shorting the calendar spread (buying far - dated contracts and selling near - dated contracts, for Brent or WTI) [3]
油脂日报:巴西大豆预计持续增产,油脂震荡运行-20251114
Hua Tai Qi Huo· 2025-11-14 05:21
Report Industry Investment Rating - The investment rating for the industry is neutral [3] Core Viewpoints - Brazilian soybean production is expected to continue increasing, and the oil market will fluctuate [1] - Palm oil has been under pressure recently due to inventory build - up expectations, declining exports, and rising production, but the expectation of biodiesel experiments still provides support, and it is not likely to fall sharply in the short term [2] - The passage of the bill by the US House of Representatives and the upcoming USDA report on the 14th will put some pressure on the oil market [2] Market Analysis Futures - The closing price of the palm oil 2601 contract yesterday was 8752.00 yuan/ton, a change of +8 yuan or +0.09% [1] - The closing price of the soybean oil 2601 contract yesterday was 8316.00 yuan/ton, a change of +28.00 yuan or +0.34% [1] - The closing price of the rapeseed oil 2601 contract yesterday was 9975.00 yuan/ton, a change of +135.00 yuan or +1.37% [1] Spot - The spot price of palm oil in Guangdong was 8650.00 yuan/ton, a change of -30.00 yuan or -0.35%, and the spot basis was P01 - 102.00, a change of -38.00 yuan [1] - The spot price of first - grade soybean oil in Tianjin was 8460.00 yuan/ton, a change of +10.00 yuan/ton or +0.12%, and the spot basis was Y01 + 144.00, a change of -18.00 yuan [1] - The spot price of fourth - grade rapeseed oil in Jiangsu was 10330.00 yuan/ton, a change of +140.00 yuan or +1.37%, and the spot basis was OI01 + 355.00, a change of +5.00 yuan [1] Market Information Summary Brazilian Soybean Forecast - The estimated soybean production in Brazil for the 2025/26 season is 177.6016 million tons, an increase of 6.1199 million tons or 3.6% year - on - year [2] - The estimated soybean planting area in Brazil for the 2025/26 season is 49.0634 million hectares, an increase of 1.7169 million hectares or 3.6% year - on - year [2] - The estimated soybean yield in Brazil for the 2025/26 season is 3.62 tons per hectare, a decrease of 2.0 kg per hectare or 0.1% year - on - year [2] International News - The US House of Representatives has enough votes to pass the temporary appropriation bill, which will be submitted to Trump for signature today [2] - Indian palm oil imports in October were 602,381 tons, compared with 833,017 tons in September [2]
化工日报:EG高供应,本周主港延续累库-20251114
Hua Tai Qi Huo· 2025-11-14 05:19
化工日报 | 2025-11-14 EG高供应,本周主港延续累库 核心观点 市场分析 期现货方面:昨日EG主力合约收盘价3892元/吨(较前一交易日变动+1元/吨,幅度+0.03%),EG华东市场现货价 3943元/吨(较前一交易日变动-22元/吨,幅度-0.55%),EG华东现货基差59元/吨(环比-3元/吨)。 生产利润方面:据隆众数据,乙烯制EG生产利润为-62美元/吨(环比-1美元/吨),煤制合成气制EG生产利润为-987 元/吨(环比-38元/吨)。 库存方面:根据 CCF 每周一发布的数据,MEG 华东主港库存为66.1万吨(环比+9.9万吨);根据隆众每周四发布 的数据, MEG 华东主港库存为61.8万吨(环比+5.4万吨)。据CCF数据,上周华东主港计划到港总数14.6万吨,副 港到港量6.1万吨;本周华东主港计划到港总数18.1万吨,副港到港量4.7万吨,本周到港计划较多,预计将再度累 库。隆众口径周四较周一累库1.3万吨。 整体基本面供需逻辑:供应端,国内乙二醇负荷高位运行,国内供应表现宽裕;海外乙二醇海外装置变化有限, 11月中旬附近乙二醇到港计划依旧呈现中性偏多,港口库存预计逐步回升 ...
化工日报:印度BIS认证取消,乙苯带动调油预期-20251114
Hua Tai Qi Huo· 2025-11-14 05:12
1. Report Industry Investment Rating No industry investment rating is provided in the report. 2. Core Viewpoints of the Report - The cancellation of India's BIS certification is beneficial for the export of PTA and filaments, but the new production capacity in India and Indonesia in 2026 may reduce their import volume. The export of filaments may increase by 2 - 30,000 tons per month in 2026 [2]. - The low price of ethylbenzene drives the expectation of blending oil, and the aromatics arbitrage between Asia and America has started, leading to the rise of PX and PTA prices [2]. - The supply of oil from the Middle East, Latin America, and Russia has increased significantly since Q3, with a bearish impact on oil prices. However, market differentiation due to sanctions still exists, and geopolitical and macro - events may affect market sentiment [2]. - For PX, the domestic PX plant load has reached a high level in recent years, and PXN has support but limited rebound space. For TA, there is limited inventory accumulation pressure in November, but it will increase after December. In the long - term, PTA processing fees are expected to improve [2][3][5][6]. - The polyester开工率 is 91.3% (down 0.4% month - on - month), with improved domestic sales orders since late October. The polyester load in November is expected to remain around 91% [3]. - For PF, the spot production profit is 156 yuan/ton (down 26 yuan/ton month - on - month), with high load and low inventory. The processing fee is expected to remain stable. For PR, the bottle - chip processing fee is expected to fluctuate within a range, and attention should be paid to raw material price fluctuations [3][6]. - The strategy is to be cautiously bullish on PX/PTA/PF/PR. The 01 contract has limited upside space due to inventory accumulation pressure, and attention should be paid to the 05 contract in the long - term. There are no cross - variety and cross - period strategies [5][6]. 3. Summary by Relevant Catalogs 3.1 Price and Basis - Figures include 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 basis [10][13][15] 3.2 Upstream Profits and Spreads - Figures cover PX processing fee PXN, PTA spot processing fee, South Korean xylene isomerization profit, and South Korean STDP selective disproportionation profit [18][21] 3.3 International Spreads and Import - Export Profits - Figures involve toluene Asia - America spread, toluene South Korean FOB - Japanese naphtha CFR, and PTA export profit [26][28] 3.4 Upstream PX and PTA Start - up - Figures show the operating rates of Chinese, South Korean, and Taiwanese PTA plants, as well as Chinese and Asian PX plants [29][32][33] 3.5 Social Inventory and Warehouse Receipts - Figures display PTA weekly social inventory, PX monthly social inventory, PTA total warehouse receipts + forecast volume, PTA warehouse receipt inventory, PX warehouse receipt inventory, and PF warehouse receipt inventory [38][41][42] 3.6 Downstream Polyester Load - Figures include filament sales volume, short - fiber sales volume, polyester load, direct - spinning filament load, polyester staple fiber load, polyester bottle - chip load, filament factory inventory days, Jiangsu and Zhejiang loom start - up rate, Jiangsu and Zhejiang texturing machine start - up rate, Jiangsu and Zhejiang dyeing start - up rate, and filament profit [49][51][60] 3.7 PF Detailed Data - Figures cover polyester staple fiber load, polyester staple fiber factory equity inventory days, 1.4D physical inventory, 1.4D equity inventory, recycled cotton - type staple fiber load, original - recycled price difference, pure polyester yarn start - up rate, pure polyester yarn production profit, polyester - cotton yarn start - up rate, and polyester - cotton yarn processing fee [70][80][84] 3.8 PR Fundamental Detailed Data - Figures include polyester bottle - chip load, bottle - chip factory inventory days, bottle - chip spot processing fee, bottle - chip export processing fee, bottle - chip export profit, price difference between East China water bottle chips and recycled 3A - grade white bottle chips, bottle - chip next - month spread, and bottle - chip next - next - month spread [88][90][98]
FICC日报:板块轮动推动指数上涨-20251114
Hua Tai Qi Huo· 2025-11-14 05:11
Report Industry Investment Rating - No relevant content provided Core Viewpoints - Despite the end of the US government shutdown, multiple key economic data releases were confirmed unavailable, and several Federal Reserve officials made hawkish remarks, leading to a decline in major US stock indices. In China, the structured market is evident, and the recent core operating logic focuses on the price - increase concept, with sector rotation supporting the rise of the Shanghai Composite Index [3] Summary by Related Catalogs Macro - economic Charts - The macro - economic charts include the relationship between the US dollar index and A - share trends, the relationship between US Treasury yields and A - share trends, the relationship between the RMB exchange rate and A - share trends, and the relationship between US Treasury yields and A - share style trends. All data sources are from Flush and Huatai Futures Research Institute [6][9][11] Spot Market Tracking Charts - The daily performance of major domestic stock indices on November 13, 2025 shows that the Shanghai Composite Index rose 0.73% to 4029.50 points, the Shenzhen Component Index rose 1.95% to 13691.38 points, the ChiNext Index rose 2.55% to 3201.75 points, the CSI 300 Index rose 1.21% to 4702.07 points, the SSE 50 Index rose 0.96% to 3073.67 points, the CSI 500 Index rose 1.55% to 7355.29 points, and the CSI 1000 Index rose 1.39% to 7590.58 points. The data source is from Flush and Huatai Futures Research Institute [13] Futures Market Tracking Charts - In the futures market, the trading volume and open interest of stock index futures decreased simultaneously. The basis of IM futures rebounded. The data on the open interest, trading volume, basis (futures - spot), and inter - delivery spread of stock index futures are presented in relevant tables and figures, and the data sources are from Flush and Huatai Futures Research Institute [2][18][41]
化工日报:全钢胎开工率环比下降-20251114
Hua Tai Qi Huo· 2025-11-14 05:08
1. Report Industry Investment Rating - The investment ratings for RU and NR are neutral, and the rating for BR is also neutral [10] 2. Core Viewpoints of the Report - The cost of natural rubber is strongly supported, but there is potential for inventory accumulation in the domestic market. It is recommended to focus on the reverse spread between RU01 and RU05. The supply pressure of RU may be less than that of NR in the later period, which is beneficial for the expansion of the price difference between RU and NR. The supply of BR is expected to remain stable in the short - term due to maintenance, and it mainly follows the price fluctuations of upstream butadiene. The inventory accumulation pattern may continue, but the loss of butadiene production profit may limit future output [10] 3. Summary by Related Catalogs Market News and Data - Futures: The closing price of the RU main contract was 15,390 yuan/ton, up 170 yuan/ton from the previous day; the NR main contract was 12,400 yuan/ton, up 220 yuan/ton; the BR main contract was 10,480 yuan/ton, up 50 yuan/ton [1] - Spot: The price of Yunnan - produced whole latex in the Shanghai market was 14,850 yuan/ton, up 100 yuan/ton; Qingdao Free Trade Zone Thai mixed rubber was 14,780 yuan/ton, up 80 yuan/ton; Thai 20 - standard rubber in Qingdao Free Trade Zone was 1,860 US dollars/ton, up 10 US dollars/ton; Indonesian 20 - standard rubber in Qingdao Free Trade Zone was 1,750 US dollars/ton, up 35 US dollars/ton; the ex - factory price of BR9000 from PetroChina Qilu Petrochemical was 10,300 yuan/ton, unchanged; the market price of BR9000 from Zhejiang Chuanhua was 10,420 yuan/ton, up 20 yuan/ton [1] Market Information - Heavy - truck market: In October 2025, the sales volume of the domestic heavy - truck market was about 93,000 units, a month - on - month decrease of about 12% and a year - on - year increase of about 40%. From January to October, the cumulative sales volume exceeded 916,000 units, a year - on - year increase of about 22%, and it is expected to exceed 1 million units after November [2] - Global natural rubber: In September 2025, global natural rubber production was expected to increase by 5% to 1.433 million tons, a 1% decrease from the previous month; consumption was expected to decrease by 3.3% to 1.274 million tons, a 1.2% increase from the previous month. In the first three quarters, cumulative production was expected to increase by 2.3% to 10.374 million tons, and cumulative consumption was expected to decrease by 1.5% to 11.422 million tons [2] - Rubber imports: In October 2025, China imported 667,000 tons of natural and synthetic rubber (including latex), a 1.2% increase from the same period in 2024 [2] - Thailand's natural rubber exports: In the first three quarters of 2025, Thailand's natural rubber exports (excluding compound rubber) totaled 1.993 million tons, a year - on - year decrease of 8%. Exports to China totaled 759,000 tons, a year - on - year increase of 6% [3] - Passenger - car market: In October, the retail volume of the domestic passenger - car market was 2.242 million units, a year - on - year decrease of 0.8% and a month - on - month decrease of 0.1%. From January to October, the cumulative retail volume was 19.25 million units, a year - on - year increase of 7.9%. In September 2025, the EU passenger - car market sales increased by 10% to 888,672 units, and the cumulative sales in the first three quarters increased by 0.9% year - on - year to 8.06 million units [3] Market Analysis Natural Rubber - Spot and spreads: On November 13, 2025, the RU basis was - 540 yuan/ton (- 70), the spread between the RU main contract and mixed rubber was 610 yuan/ton (+ 90), etc. [4] - Raw materials: The price of Thai smoked sheets was 60.33 Thai baht/kg (+ 0.13), Thai glue was 56.30 Thai baht/kg (unchanged), Thai cup lump was 52.10 Thai baht/kg (+ 0.20), and the difference between Thai glue and cup lump was 4.20 Thai baht/kg (+ 0.10) [5] -开工率: The all - steel tire production rate was 64.29% (- 1.08%), and the semi - steel tire production rate was 72.99% (+ 0.10%) [6] - Inventory: The social inventory of natural rubber was 449,455 tons (+ 1,787), the inventory at Qingdao Port was 1,056,357 tons (+ 345), the RU futures inventory was 118,970 tons (- 1,930), and the NR futures inventory was 48,586 tons (+ 3,931) [6] Butadiene Rubber - Spot and spreads: On November 13, 2025, the BR basis was - 130 yuan/ton (- 50), the ex - factory price of butadiene from Sinopec was 7,000 yuan/ton (+ 100), etc. [7] -开工率: The production rate of high - cis butadiene rubber was 69.92% (+ 3.91%) [8] - Inventory: The inventory of butadiene rubber traders was 4,970 tons (+ 1,450), and the inventory of butadiene rubber enterprises was 25,850 tons (+ 80) [9]
FICC日报:贵金属延续涨势,关注中国10月经济数据-20251114
Hua Tai Qi Huo· 2025-11-14 03:13
Report Industry Investment Rating - Not provided Core Viewpoints - In the current inflation expectation game stage, focus on the more certain non-ferrous metals and precious metals. Consider buying precious metals and non-ferrous metals on dips [3][4] Summary by Relevant Catalogs Market Analysis - In the domestic market, positive news keeps emerging, but the economic foundation still needs to be consolidated. The "15th Five-Year Plan" proposal was released, boosting market sentiment and economic expectations. The average GDP growth rate during the 15th Five-Year Plan period is expected to be around 5%. China and the US reached a three - point consensus on economic and trade, and China officially postponed tariffs. In October, the national manufacturing PMI was 49, a month - on - month decrease of 0.8; exports decreased by 1.1% year - on - year. CPI increased by 0.2% year - on - year, and core CPI reached the highest since March 2024. PPI increased month - on - month for the first time this year. The central bank proposed to view financial aggregate indicators scientifically. New social financing in October was 810 billion yuan, and new RMB loans were 220 billion yuan. The M2 - M1 gap widened. On November 13, the A - share market opened lower and closed higher [1] - The US liquidity risk has eased. The Fed cut interest rates by 25BP as expected and will end balance - sheet reduction on December 1. The US government shutdown ended. The six - week shutdown is estimated to reduce Q4 GDP by 1.5 percentage points, causing a net loss of about $11 billion. The US ISM manufacturing index in October dropped to 48.7%, shrinking for eight consecutive months. ADP private - sector employment decreased by 45,000, the largest decline in two and a half years. There are uncertainties about the Fed chair candidate and future tariff policies [2] Commodity Analysis - In the commodity market, focus on non - ferrous metals and precious metals. The black sector is still dragged down by downstream demand expectations. The long - term supply shortage in the non - ferrous sector has not been alleviated, and it has been boosted by the global easing expectation. The medium - term supply of the energy sector is relatively loose, with OPEC+ planning to increase production by 137,000 barrels per day in November. In the chemical sector, pay attention to the "anti - involution" space of methanol, caustic soda, and urea. In the agricultural products sector, pay attention to China's procurement plan for US goods and next year's weather forecast. After the short - term sharp adjustment risk of precious metals is cleared, consider buying on dips. On November 13, spot gold broke through $4,220 per ounce, up 0.61% on the day [3] Strategy - For commodities and stock index futures, consider buying precious metals and non - ferrous metals on dips [4] Key News - As of the end of October, the balance of local and foreign currency loans was 274.54 trillion yuan, a year - on - year increase of 6.3%. The balance of RMB loans was 270.61 trillion yuan, a year - on - year increase of 6.5%. In the first ten months, RMB loans increased by 14.97 trillion yuan. The balance of foreign currency loans was $554.6 billion, a year - on - year decrease of 3%. In the first ten months, foreign currency loans increased by $1.25 billion [5] - As of the end of October, the balance of broad money (M2) was 335.13 trillion yuan, a year - on - year increase of 8.2%. The balance of narrow money (M1) was 112 trillion yuan, a year - on - year increase of 6.2%. The balance of currency in circulation (M0) was 13.55 trillion yuan, a year - on - year increase of 10.6%. In the first ten months, net cash injection was 728.4 billion yuan. The social financing scale increment in the first ten months of 2025 was 30.9 trillion yuan, 3.83 trillion yuan more than the same period last year [5] - On November 12, US President Trump signed a federal government temporary appropriation bill, ending the government shutdown. Trump said the shutdown cost $1.5 trillion, and it will take weeks or months to calculate the overall impact. After the government re - opened, he will continue to promote measures such as reducing the cost of living, restoring public safety, and promoting economic growth, and emphasized the "big and beautiful" bill will bring the "largest - ever tax cuts" [5] - Spot gold broke through $4,220 per ounce on November 13, up 0.61% on the day [3][5]
农产品日报:苹果销区走货偏慢,红枣市场供需失衡-20251114
Hua Tai Qi Huo· 2025-11-14 03:12
1. Report Industry Investment Ratings - Apple: Neutral to bullish [4] - Red dates: Neutral [8] 2. Core Views of the Report - Apple: The price of apples futures continued to rise. The出库 of late - Fuji apples in the western region has started, with active transactions in Gansu and Shaanxi. The price of high - quality apples is expected to remain stable and firm in the short term, while the price of ordinary goods will remain stable. The stocking volume is lower than the same period last year, and attention should be paid to the stocking progress and出库 situation [3][4]. - Red dates: The price of red dates futures declined. The acquisition progress in Aksu and Alar has accelerated, and the price of new goods in the Hebei market is weakening. The inventory pressure is large, and the supply - demand contradiction has not been substantially alleviated. The actual consumption situation during the peak season will be the focus [7]. 3. Summary by Relevant Catalogs Apple Market News and Important Data - Futures: The closing price of the Apple 2601 contract was 9,504 yuan/ton, up 297 yuan/ton or 3.23% from the previous day [1]. - Spot: The price of 80 first - and second - grade late - Fuji in Shandong Qixia was 3.75 yuan/jin, unchanged from the previous day; the price of over 70 semi - commercial late - Fuji in Shaanxi Luochuan was 4.15 yuan/jin, unchanged from the previous day [1]. Recent Market Information - The出库 work of late - Fuji in the western region has started. In Gansu, merchants purchase goods as needed; in Shaanxi Xianyang, some merchants are actively purchasing farmers' goods. The quality of ground - traded goods in Shandong has slightly declined, and the price is slightly weak. The stocking work is entering the later stage, and the price of high - quality goods is expected to remain stable and firm, while ordinary goods will remain stable [2]. Market Analysis - The price of apple futures continued to rise. The出库 of late - Fuji in the west has started, and the price of high - quality goods is expected to be stable and firm, while ordinary goods will remain stable. The stocking work is in the later stage, and the stocking volume is lower than last year. The trading atmosphere in the sales area is still weak, and attention should be paid to the stocking and出库 progress [3]. Strategy - Neutral to bullish. Although the supply of late - Fuji has increased, the commercial rate this year is low, and merchants are cautious about ordering ordinary goods. The stocking volume is lower than last year [4]. Red Dates Market News and Important Data - Futures: The closing price of the Red Dates 2601 contract was 9,195 yuan/ton, down 170 yuan/ton or 1.82% from the previous day [5]. - Spot: The price of first - grade grey jujubes in Hebei was 8.90 yuan/kg, down 0.10 yuan/kg from the previous day [5]. Recent Market Information - The acquisition progress in Aksu and Alar has accelerated, and the price has slightly decreased. Merchants select suitable goods. The price in the Hebei market is weakening, and the price in the Guangdong market is stable. The price of spot goods is expected to be stable in the short term [6]. Market Analysis - The price of red dates futures declined. The acquisition progress in the production area has accelerated, and the price in the Hebei market is weakening. The inventory pressure is large, and the supply - demand contradiction has not been alleviated. The actual consumption during the peak season will be the focus [7]. Strategy - Neutral. The decline of red dates futures is obvious, and market gaming has increased. The new - season red dates in the main production areas have not been fully harvested. Attention should be paid to the acquisition price, fruit quality, and consumption during the peak season [8].
华泰期货流动性日报-20251114
Hua Tai Qi Huo· 2025-11-14 03:12
流动性日报 | 2025-11-14 市场流动性概况 2025-11-13,股指板块成交7132.44亿元,较上一交易日变动-8.63%;持仓金额13276.36亿元,较上一交易日变动 -4.46%;成交持仓比为53.55%。 国债板块成交3538.94亿元,较上一交易日变动+13.89%;持仓金额8598.81亿元,较上一交易日变动-2.44%;成交 持仓比为42.07%。 基本金属板块成交4968.41亿元,较上一交易日变动+10.54%;持仓金额6405.93亿元,较上一交易日变动+3.38%; 成交持仓比为85.64%。 贵金属板块成交9731.72亿元,较上一交易日变动+46.88%;持仓金额4841.29亿元,较上一交易日变动+2.61%;成 交持仓比为267.54%。 能源化工板块成交4798.72亿元,较上一交易日变动+39.28%;持仓金额4654.27亿元,较上一交易日变动-0.34%; 成交持仓比为84.93%。 农产品板块成交3241.11亿元,较上一交易日变动+20.50%;持仓金额5983.03亿元,较上一交易日变动+1.19%;成 交持仓比为48.51%。 黑色建材板块成交193 ...