1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Core Viewpoints - The global political - economic system is accelerating its restructuring, and the abundant monetary liquidity environment supports the continued strong performance of precious metal prices in 2026, but the optimization of Trump 2.0 policies and the decline in the intensity of Sino - US game also restrain the upward momentum [23][26]. - The US dollar index is expected to continue to be weak in 2026, while the RMB exchange rate against the US dollar is expected to continue to be strong [16][17]. - The US Treasury yield curve is expected to continue to steepen in 2026, with short - term interest rates continuing to decline and medium - and long - term Treasury yields showing more range - bound characteristics [19]. 3. Summary by Relevant Catalogs 3.1 Macro Environment Review 3.1.1 Economy - In December 2025, China's manufacturing PMI rebounded to 50.1%, returning to the expansion range for the first time since April 2025. The service industry, construction, and comprehensive PMIs also showed an upward trend, indicating an overall economic recovery [4]. - In December 2025, the US ISM manufacturing PMI fell to 47.9%, the lowest since November 2024, but the non - manufacturing PMI rose to 54.4%, the highest since November 2024, showing a good situation of improved economic momentum, falling prices, and stable employment [6]. - In October 2025, US import volume shrank, and the trade deficit was the smallest since March 2021. It is expected that the import shrinkage will continue until the end of 2025, and net exports may offset the negative impact of the federal government shutdown [7]. - In December 2025, China's CPI increased by 0.8% year - on - year, with the growth rate accelerating. The PPI shrank by 2.1% year - on - year, with the degree of shrinkage narrowing [9][10]. 3.1.2 Policy - In 2026, China's "two new" policies (large - scale equipment update and consumer goods trade - in) will be optimized in structure, with appropriate increase in subsidy thresholds and contraction in total scale. The first batch of ultra - long - term special treasury bonds for consumer goods trade - in has been advanced [12]. - In January 2026, relevant departments issued the "Implementation Opinions on the Special Action of 'Artificial Intelligence + Manufacturing'", and the Ministry of Commerce announced a ban on the export of dual - use items to Japan and an anti - dumping investigation into imported dichlorodihydrosilicon from Japan [13]. 3.1.3 Geopolitics - In early January 2026, the US launched a large - scale air strike on Venezuela, and there have also been events such as the US seizing oil tankers and discussing the acquisition of Greenland. In Iran, there have been large - scale protests and a nationwide Internet shutdown [14][15]. 3.2 Precious Metals Market Analysis 3.2.1 US Treasury Yields and Dollar Exchange Rate - The US dollar index is expected to continue to be weak in 2026, with support levels at 95 and 90. The RMB exchange rate against the US dollar is expected to be strong, with resistance levels at 6.97 and 6.85 [16][17]. - The US Treasury yield curve is expected to continue to steepen in 2026, with the 10 - year US Treasury yield fluctuating in the range of 3.8% - 4.5% [19]. 3.2.2 Market Investment Sentiment - As of January 8, 2026, the SPDR Gold ETF holdings increased by 24.5% compared with the low point in May 2024, and the SLV Silver ETF holdings increased by 20.8% [20]. - As of December 30, 2025, the net long ratios of gold and silver funds decreased slightly, and institutional investors were more optimistic about gold [22]. 3.2.3 Precious Metals Review and Outlook - In the long - term, the precious metals market is in a bull market. In the medium - term, the price of precious metals is strong. In the short - term, after a sharp rise in late November 2025, there was a significant correction at the end of December, and the market has stabilized since then [23][24]. - In 2026, the price of London gold is expected to rise to the range of $4800 - 5000 per ounce, silver to $90 - 100 per ounce, platinum to $3000 - 3150 per ounce, and palladium to $2180 - 2300 per ounce [26]. - It is recommended that investors maintain a long - biased trading strategy, and conservative investors can pay attention to arbitrage opportunities [27]. 3.2.4 Precious Metals - Related Charts - The gold - silver ratio in London and Shanghai has shown a downward trend since late April 2025. The correlation between gold and the US dollar index has changed from positive to negative, the positive correlation between gold and the real US Treasury yield has strengthened, the negative correlation between gold and crude oil has further strengthened, and the positive correlation between gold and silver has weakened [28].

Industry - The industry under research is agriculture products [1] Core Viewpoints - For soymeal, the domestic market is expected to face a potential supply shortage in Q1 2026, with the 03 contract stronger than the 05 contract. The price of soymeal will be affected by factors such as US soybean exports, Brazilian soybean production, and domestic soybean imports and crushing [9][10] - For eggs, the spot price is expected to enter a seasonal peak, with the 02 and 03 contracts likely to strengthen in basis. The far - month contracts may have potential due to the expected inflection point in inventory, and attention should be paid to the replenishment situation [48] - For sugar, the raw sugar index is expected to maintain a sideways shock, and Zhengzhou sugar is expected to have a shock market. Attention should be paid to the 60 - day moving average resistance level [71][72] - For cotton, the short - term cotton price faces callback pressure at the integer - level resistance, and the medium - to - long - term trend of going long at low levels remains unchanged. Attention should be paid to the actual reduction in the cotton planting area in Xinjiang in the 2026/27 season and the pre - Spring Festival restocking by downstream enterprises [92] Breakdown by Directory Soymeal Weekly Review and Operation Suggestions - Spot prices of coastal soymeal rose as of January 9, with Dalian at 3240 yuan/ton (+80), Rizhao at 3160 yuan/ton (+80), Zhangjiagang at 3150 yuan/ton (+50), and Dongguan at 3140 yuan/ton (+60) [8] - The US soybean futures rebounded after a previous decline, mainly due to the digestion of the bearish factors of Brazilian bumper harvest and weak US soybean exports. The domestic soymeal followed the external market and was relatively strong, especially the 03 contract. The 05 contract's rebound space is limited [9][10] Core Points - **Soybean Planting**: The USDA December report showed that the new - season US soybean planting area decreased, but the yield per unit increased. The South American soybean production is expected to be high, with Brazil's production estimated to reach 1.75 billion tons and Argentina's at 48.5 million tons. The planting progress in Brazil is almost complete, and the growth situation is good. Argentina's planting rate is 88.3% as of January 7 [11][12][13] - **US Soybean Exports**: As of January 1, the weekly shipment volume, net sales volume, and cumulative sales volume of US soybeans in the 2025/26 season decreased year - on - year. The US and China reached a trade agreement, but the commercial procurement is restricted by the 13% tariff [19] - **Domestic Soybean Import and Crushing**: As of January 8, the crushing profit of imported soybeans varied. The soybean crushing volume and operating rate decreased, and the import volume and inventory situation showed seasonal changes [27][28][30] - **Soymeal Transaction and Inventory**: As of January 2, the domestic main oil mills' soymeal inventory increased. The trading volume was affected by factors such as Sino - US trade frictions and the suspension of imported soybean auctions [34][37] - **Basis and Inter - month Spread**: As of January 9, the 05 contract basis of soymeal was about 438.86, and the 3 - 5 spread was 309. The basis is expected to be strong in shock, and the 3 - 5 spread may continue to be strong [40] - **Domestic Registered Warehouse Receipts**: As of January 8, the number of domestic soymeal registered warehouse receipts was 25,410, at a relatively high level in the same period of history [45] Eggs Weekly Review and Operation Suggestions - The spot price of eggs rose this week, and the futures near - month contracts were slightly stronger, while the far - month contracts declined. The 02 and 03 contracts are expected to strengthen in basis, and attention should be paid to the far - month contracts' potential due to inventory changes [48] Data Summary - **Inventory and Replenishment**: As of December 2025, the national laying - hen inventory was at a high level in the same period of history, with a slight decline. The replenishment momentum was weak, and the proportion of different - age - group laying hens changed [49][50][53] - **Cost, Income, and Breeding Profit**: As of January 8, the egg spot price rose, the feed cost was at a medium level, the egg - chick price was at a medium - low level, and the breeding profit was at a very low level [58] - **Culled Hens**: The culling volume was relatively high but slightly declined, the culling age was stable, and the culled - hen price was at a low level in the same period of history [59] - **Demand, Inventory, and Pig Price**: As of January 8, the egg sales volume was at a low level in the same period of history, the inventory was relatively high, and the pig price was at a low level in the same period of history [65] Sugar - The raw sugar index slightly rebounded, and the Zhengzhou sugar index strengthened in shock. The spot prices in Guangxi and Yunnan increased, and the basis narrowed. The 5 - 9 spread strengthened, and the number of warehouse receipts increased. The production in Brazil and India will affect the sugar price [71][72][74] Cotton Weekly Review and Operation Suggestions - The external cotton market slightly recovered, and the Zhengzhou cotton reached the resistance level and then fell back. The domestic spot market trading was slightly weak, and the pure - cotton yarn market maintained rigid demand. The overseas market was affected by tariffs, and the domestic market should pay attention to the planting area change and the pre - Spring Festival restocking [90][91][92] Core Points - **Cotton - Producing Countries**: The USDA December report adjusted the global cotton supply - demand situation in the 2025/26 season, with the opening inventory increasing, production and trade volume decreasing, and the closing inventory increasing [93] - **US Cotton Exports**: As of November 30, the net signing and shipment volume of US cotton showed different trends, and the cumulative signing and shipment volume also changed compared with the previous year [100] - **Textile Enterprises**: As of December 26, the cotton and yarn inventories of textile enterprises changed, and the load indexes of yarn and grey - cloth production decreased [102] - **Basis and Inter - month Spread**: As of January 8, the spot basis of cotton increased, and the 1 - 5 spread also increased [115] - **CFTC Position and Domestic Registered Warehouse Receipts**: As of December 30, the non - commercial net position of US cotton increased, and as of January 8, the domestic cotton registered warehouse receipts increased [119]

Report Information - **Report Title**: Energy and Chemical Weekly - **Date**: January 9, 2026 - **Research Team**: Energy and Chemical Research Team of Jianxin Futures Industry Investment Ratings No specific industry investment ratings are provided in the report. Core Views - The oil market is affected by geopolitical events such as the US takeover of Venezuela's oil industry and the turmoil in Iran. Crude oil supply has an increasing expectation, and the market faces a large inventory accumulation pressure in Q1 2026. Oil prices still have a risk of decline [7][10]. - The asphalt market has relatively balanced supply and demand, and the raw material end has certain support. It is expected that asphalt prices may run strongly. It is recommended to consider going long on asphalt and short on crude oil [30][31]. - The polyester market is in a demand - off season. PTA is expected to transition from de - stocking to inventory accumulation, and its price may decline slightly. Ethylene glycol is expected to maintain a concentrated inventory accumulation before and after the Spring Festival, and its price may have a small - scale callback [57][58]. - The price of polyester staple fiber is expected to decline due to weakening cost and poor supply - demand structure [66]. - The polyolefin market is expected to rise first and then fall under the drive of supply recovery and demand entering the off - season inventory digestion cycle [84]. - The polysilicon market has an upward price but no improvement in fundamentals. The downstream is in a cycle of production reduction, and the terminal demand is in an off - season [118]. - The industrial silicon market has a neutral performance. The supply is at a seasonal low, the demand is weak, and the inventory is high. The futures price is expected to fluctuate within a range [138]. - The pulp market has limited fundamental changes and is expected to operate in a volatile adjustment [154]. Summary by Directory Crude Oil 1. Market Review and Operation Suggestions - WTI crude oil closed at $58.28/barrel, up 1.66%; Brent crude oil closed at $62.79/barrel, up 3.27%; SC crude oil closed at 432.7 yuan/barrel, up 0.12%. The US takeover of Venezuela's oil industry and the turmoil in Iran have affected the oil price. The market faces inventory accumulation pressure in Q1 2026, and oil prices have a risk of decline [7]. 2. Fundamental Changes - The US takeover of Venezuela's oil industry and the turmoil in Iran have affected the supply and demand of the oil market. The US crude oil inventory decreased, but the refined oil inventory increased. The inventory accumulation speed in Q1 2026 slowed down slightly [10]. Asphalt 1. Market Review and Operation Suggestions - The BU2603 contract closed at 3171 yuan/ton, down 4.45%. The spot prices in Shandong, East China, and South China all increased. The supply of asphalt may decrease, and the demand is divided between the north and the south. It is recommended to go long on asphalt and short on crude oil [30][31]. 2. Fundamental Changes - The cost is affected by the oil market. The domestic asphalt device maintenance loss increased, and the average operating load rate decreased. The production profit increased. The demand is divided between the north and the south, and the inventory increased [33][34][35]. Polyester 1. Market Review and Operation Suggestions - The cost support for PTA is weakening, and the demand is decreasing. It is expected to transition from de - stocking to inventory accumulation, and the price may decline slightly. Ethylene glycol is expected to maintain inventory accumulation, and the price may have a small - scale callback [57][58]. 2. Main Driving Forces - The downstream consumption demand is decreasing. The supply of PTA is expected to decrease, and the price may decline. The ethylene glycol industry's operating load rate decreased, the inventory increased, and the profit increased slightly [59][60][62]. Polyester Staple Fiber 1. Market Review and Operation Suggestions - The price of polyester staple fiber in the East China market declined last week. This week, the cost support is weak, the supply is loose, and the demand is in an off - season. It is expected that the price will decline [66]. 2. Main Driving Forces - The downstream consumption demand is weakening. The operating load rate of the polyester staple fiber industry is stable, and the supply is loose. The cost and supply - demand factors drag down the price [67][68]. Polyolefin 1. Market Review and Operation Suggestions - The futures and spot prices of polyolefin increased last week. The supply pressure of polypropylene decreased, and the supply pressure of plastics increased slightly. The demand is in an off - season, and it is expected to rise first and then fall [76][84]. 2. Fundamental Changes - Polypropylene has more temporary maintenance, and the production decreases. The production of polyethylene increases slightly. The production profit of different raw materials has different changes. The inventory of two - oil companies decreased, and the downstream operating rate is divided [85][90][99]. Polysilicon 1. Market Review and Outlook - The price of polysilicon increased, but the fundamentals have no improvement expectation. The downstream is in a cycle of production reduction, and the terminal demand is in an off - season [118]. 2. Overview of the Photovoltaic Industry's Fundamentals - The market supervision department has taken regulatory measures. The prices of the photovoltaic industry chain are running strongly, but the supply exceeds demand, and the inventory removal resistance is large [119][121]. Industrial Silicon 1. Futures Review and Outlook - The price of industrial silicon futures declined, and the trading volume and open interest increased. The supply is at a seasonal low, the demand is weak, and the inventory is high. The futures price is expected to fluctuate within a range [138]. 2. Overview of the Industrial Silicon's Fundamentals - The prices of the industrial silicon industry chain are running strongly. The production of industrial silicon is at a seasonal low, the demand is weak, the export is stable, and the inventory is slowly accumulating [139][140][141]. Pulp 1. Pulp Market Review and Outlook - The price of pulp futures declined slightly. The spot prices of imported pulp mostly increased. The fundamentals of pulp changed little, and it is expected to operate in a volatile adjustment [153][154]. 2. Fundamental Changes - The pulp shipment volume of major producing countries decreased in November. China's pulp import volume increased in November. The global pulp inventory days increased, and the domestic and European port inventories decreased. The downstream market is stable [155][161][168].

Report Summary 1. Report Industry Investment Rating - No information provided 2. Core Viewpoints of the Report - In 2025, the national carbon emissions trading market operated smoothly and orderly, with the trading scale continuously expanding. The carbon emission reduction awareness of key emission units in the national carbon market continued to strengthen, and the function of promoting low - cost emission reduction in the whole society became increasingly apparent. In the first week of January 2026, the carbon market price increased, and the total trading volume was 4,688,068 tons, with a total turnover of 35,201,190 yuan [4][5] 3. Summary by Relevant Catalog I. Carbon Market Weekly Overview - As of December 31, 2025, the cumulative trading volume of national carbon market allowances was 865 million tons, with a cumulative turnover of 57.663 billion yuan. In 2025, there were 3,378 key emission units under the national carbon market allowance management, including 2,087 in the power generation industry, 232 in the steel industry, 962 in the cement industry, and 97 in the aluminum smelting industry. The annual trading volume of allowances was 235 million tons, a year - on - year increase of about 24%, and the turnover was 14.63 billion yuan [4] - In the first week of January, the highest price of the national carbon market composite was 83.00 yuan/ton, the lowest was 72.50 yuan/ton, and the closing price was 75.96 yuan/ton, a 1.78% increase from the last trading day of the previous week. The trading volume of the listed agreement transaction was 535,037 tons, with a turnover of 41.2816 million yuan; the trading volume of the bulk agreement transaction was 4,153,031 tons, with a turnover of 310.7302 million yuan; there was no one - way bidding this week. The total trading volume of national carbon emission allowances was 4,688,068 tons, and the total turnover was 35,201,190 yuan [5] II. Market News - Sichuan Province formulated the "Implementation Plan for Improving the Carbon Market Capacity of the Power Generation, Cement, Steel, and Aluminum Smelting Industries in Sichuan Province", aiming to improve the carbon market capacity of relevant industries and achieve the goals of carbon peaking and carbon neutrality by 2027 [6] - On January 7, the State Administration for Market Regulation约谈ed major photovoltaic production enterprises and the photovoltaic association, requiring them not to agree on production capacity, sales prices, etc., and to submit written rectification measures by January 20 [6] - Shaanxi Province has completed the relevant work of the fourth compliance cycle of the national carbon emissions trading market, effectively improving the compliance ability and low - carbon transformation enthusiasm of key emission enterprises [6][7]

Report Overview - Report Title: Copper Futures Daily Report [1] - Date: January 9, 2026 [2] - Researcher: Zhang Ping, Yu Feifei, Peng Jinglin [3] 1. Report Industry Investment Rating - Not provided in the content 2. Report's Core View - Copper prices continued to decline, with the main contract of Shanghai copper dropping to around 100,000. The decline was due to the margin increase of silver by the Shanghai Futures Exchange, which led to profit - taking of long - position funds in precious and base metals. Also, high copper prices suppressed downstream demand. Although the medium - term macro and fundamental aspects are still favorable, short - term prices face correction pressure. It is recommended to pay attention to the support level of 100,000 for the main Shanghai copper contract [9]. 3. Summary by Directory 3.1 Market Review and Operation Suggestions - Copper prices fell, with the main Shanghai copper contract reaching around 100,000. The price drop was caused by the margin adjustment and weak downstream demand. Domestic social inventory increased by 16,200 tons to 273,800 tons compared to Monday. The refined - scrap copper price difference narrowed to 4,834 yuan/ton, but the scrap copper substitution advantage remained obvious. The spot import loss shrank to 788 yuan/ton, and both import and export windows were closed. Short - term, it is advisable to watch the 100,000 support level of the main Shanghai copper contract [9]. 3.2 Industry News - S&P Global stated that the growth of AI and the defense industry will increase global copper demand by 50% to 42 million tons by 2040 (from 28 million tons in 2025). Without improved recycling and mining, the annual supply shortage could exceed 10 million tons [9]. - Codelco achieved a slight increase in copper production in 2025, reaching 1.333 million tons, a 0.4% year - on - year increase. Its 2026 target production is 1.344 million tons [9].

Report Information - Report Name: "集运指数日报" [1] - Date: January 9, 2026 [2] - Research Team: Macro - Financial Research Team [4] - Researchers: He Zhuoqiao, Huang Wenxin, Nie Jiayi [3] Report Core View - The SCFIS index has further rebounded by 3.1% to 1795.83 points this week. The price increase in mid - to late December was well - implemented. The shipping price in early January was maintained at a median level of around $2880. The spot high may be approaching. Considering the increasing expectation of the Red Sea resuming navigation after the Spring Festival, attention should be paid to the short - selling opportunity of the April contract in the off - season and the positive spread arbitrage opportunity between the 02 and 04 contracts [8] Industry Investment Rating - Not provided in the report Summary by Directory 1. Market Review and Operation Suggestions - Spot Market: The SCFIS index rose 3.1% to 1795.83 points. The shipping price in early January was around $2880, and the late - January quotation was in the range of $2700 - $3100. The Maersk's fourth - week opening price of $2800 for European base ports was better than expected, but the reduction of non - European base port quotes dampened bullish sentiment. Attention should be paid to the short - selling opportunity of the April contract in the off - season and the 02 - 04 positive spread arbitrage opportunity [8] 2. Industry News - From December 22 to 26, 2025, the China Export Container Transport Market showed a good trend. The Shanghai Export Container Composite Freight Index rose 6.7% to 1656.32 points on December 26. European routes: The European economy was weak in 2025, facing geopolitical and energy security issues, but the spot market booking price rose during the signing season, with the Shanghai - to - European base port freight rising 10.2%. Mediterranean routes: The market price continued to rise, with a 10.9% increase in Shanghai - to - Mediterranean base port freight. North American routes: The US labor market showed some resilience, and the shipping demand was good, with the Shanghai - to - US West and East base port freight rising 9.8% and 6.6% respectively [9][10] - Many shipping companies announced price increases. MSC raised the freight rates of multiple routes from December 15 to December 31. Maersk and Hapag - Lloyd announced PSS increases. CMA CGM announced PSS and FAK rate adjustments [10] - Military operations in the Middle East continued. The Israeli army killed many Hamas members. The armed militants in the Rafah tunnels were still in contact with the Hamas military leadership [10] - The Suez Canal Authority announced that Maersk would resume Red Sea - Suez Canal navigation from early December, but Maersk later stated that the specific date had not been determined [10] 3. Data Overview 3.1 Container Shipping Spot Prices - SCFIS European route (base ports): The index on January 5, 2026, was 1795.83, up 3.1% from December 29, 2025. SCFIS US West route (base ports): The index was 1250.12, down 3.9% [12] 3.2 Container Shipping Index (European Routes) Futures Market - Provided the trading data summary of the container shipping European line futures on January 8, including the opening price, closing price, settlement price, price change, trading volume, open interest and its change of different contracts such as EC2602, EC2604, etc. [6] 3.3 Shipping - related Data Charts - Included multiple data charts such as the European container ship capacity, the global container ship order backlog, the Shanghai - European base port freight, and the Shanghai - Rotterdam spot freight [18][20]

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core View of the Report - The lithium carbonate futures closed higher. In the afternoon, due to the overall decline of risk assets and the limit - down of polysilicon, the selling sentiment spread to lithium carbonate futures, causing the main contract to briefly fall below 140,000, but it rebounded at the end of the session. The spot prices in the industrial chain continued to rise. The social inventory of lithium carbonate increased this week, interrupting the destocking process, but the increase in iron - lithium processing fees, the growing production willingness of iron - lithium plants, the increasing production of energy - storage cells, and the delayed resumption of the Jianxiaowo mine are expected to prevent the inventory build - up from reversing the price trend. It is recommended to buy on dips for lithium carbonate futures [12]. 3. Summary by Directory 3.1. Market Review and Operation Suggestions - Market situation: The lithium carbonate futures closed higher. In the afternoon, affected by the overall decline of risk assets and the limit - down of polysilicon, the selling sentiment spread, causing the main contract to briefly fall below 140,000, but it rebounded at the end. The spot price of steel - linked electric carbon rose by 200 to 139,400, Australian ore rose by 125 to 1985, lithium mica rose by 165 to 2070, ternary materials remained flat, and iron - lithium rose by 2700 - 2900 [12]. - Inventory situation: This week, the social inventory of lithium carbonate increased by 337 tons to 109,900 tons. The continuous rise in lithium prices, downstream production cuts, and holiday factors interrupted the destocking process [12]. - Operation suggestion: It is recommended to buy on dips for lithium carbonate futures, but short - term selling sentiment should be monitored [12]. 3.2. Industry News - **Xingfa Group**: Hubei Xingshun New Materials Co., Ltd., a subsidiary of Xingfa Group, has put into trial operation a lithium iron phosphate production line customized for BYD on January 5. The production line has added more than 20 magnetic separation devices to improve product performance, with an annual designed capacity of 80,000 tons. The company plans to achieve a production and sales volume of 70,000 tons in 2026, and the production line will be basically at full capacity from March. Tonnage samples have passed BYD's tests and are about to be supplied in batches. The company is also promoting the verification and introduction of leading battery cell manufacturers such as EVE Energy and has formed a complete product matrix relying on the group's phosphate ore and hydropower resources [13]. - **Premier African Minerals**: Premier African Minerals, a UK - based mining and exploration company, has reached an agreement with its major shareholder Canmax Technologies to extend the deadline of the reiteration of the off - take and prepayment agreement for the Zulu lithium - tantalum project in Zimbabwe from December 31, 2025, to June 30, 2026. This is the third adjustment after two revisions in December 2024 and April 2025, as Premier had previously failed to deliver lithium concentrate as required [13][14].

021-60635736 期货从业资格号：F3033782 交易咨询证书号：Z0014484 021-60635735 niejiayi@ccb.ccbfutures.com 期货从业资格号：F03124070 交易咨询证书号： Z0023472 021-60635727 fengzeren@ccb.ccbfutures.com 期货从业资格号：F03134307 报告类型 焦炭焦煤日评 日期 2026 年 1 月 9 日 黑色金属研究团队 研究员：翟贺攀 zhaihepan@ccb.ccbfutures.com 研究员：聂嘉怡 研究员：冯泽仁 请阅读正文后的声明 ＃summary＃ 每日报告 | | | | | 表1：1月8日焦炭焦煤期货主力合约价格、成交及持仓情况（单位：元/吨、手、亿元） | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 合约 代码 | 前收 盘价 | 开盘价 | 最高价 | 最低价 | 收盘价 | 涨跌幅 | 成交量 | 持仓量 | 持仓量 变化 | 资金流 入流出 | ...

行业 国债日报 日期 2026 年 1 月 9 日 021-60635739 huangwenxin@ccb.ccbfutures.com 期货从业资格号：F3051589 研究员：聂嘉怡(股指) 021-60635735 niejiayi@ccb.ccbfutures.com 期货从业资格号：F03124070 研究员：何卓乔(宏观贵金属) 18665641296 hezhuoqiao@ccb.ccbfutures.com 期货从业资格号：F3008762 宏观金融团队 研究员：黄雯昕(国债集运) ＃summary＃ 请阅读正文后的声明 每日报告 | | 表1：国债期货1月8日交易数据汇总 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 合约 | 前结算价 | 开盘价 | 收盘价 | 结算价 | 涨跌 | 涨跌幅 （%） | 成交量 | 持仓量 | 仓差 | | TL2603 | 110.590 | 110.610 | 111.000 | 110.950 | 0.410 | 0.37 | 12 ...

行业 原油日报 日期 2026 年 1 月 9 日 021-60635738 lijie@ccb.ccbfutures.com 期货从业资格号：F3031215 021-60635737 renjunchi@ccb.ccbfutures.com 期货从业资格号：F3037892 028-8663 0631 penghaozhou@ccb.ccbfutures.com 期货从业资格号：F3065843 021-60635740 pengjinglin@ccb.ccbfutures.com 期货从业资格号：F3075681 021-60635570 liuyouran@ccb.ccbfutures.com 期货从业资格号：F03094925 021-60635727 fengzeren@ccb.ccbfutures.com 期货从业资格号：F03134307 能源化工研究团队 研究员：李捷,CFA（原油沥青） 研究员：任俊弛（PTA、MEG） 研究员：彭浩洲（工业硅碳市场） 研究员：彭婧霖（聚烯烃） 研究员：刘悠然（纸浆） 研究员：冯泽仁（玻璃纯碱） 请阅读正文后的声明 每日报告 一、行情回顾与操作建议 | | ...