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 | | ...

Report Information - Report Name: Soda Ash and Glass Daily Report [1] - Date: January 9, 2026 [2] Industry Investment Rating - Not provided. Core Views - Soda ash supply increased and inventory accumulated as of January 8, maintaining a weak pattern. The short - term is expected to be volatile and slightly stronger due to macro sentiment and other factors, but the long - term supply - demand contradiction remains unsolved [8][9]. - Glass futures' main contract FG2605 continued to rise on January 8, 2025. Short - term supply contraction may support prices, but high inventory restricts the market, and the upward trend is slow [10][11]. Summary by Directory 1. Soda Ash and Glass Market Review and Operation Suggestions Soda Ash - Supply: As of the week of January 8, the weekly output rose to 753,600 tons, a year - high, with a month - on - month increase of 8.11%. The equipment operation is stable with no maintenance plan [8]. - Demand: This week, the total shipment volume of Chinese soda ash enterprises decreased to 589,200 tons, a month - on - month decrease of 18.99%. The downstream float glass daily melting volume decreased by 300 tons to 151,500 tons, while the photovoltaic glass daily melting volume of 88,500 tons was relatively stable [8]. - Inventory: Affected by logistics during the festival, the factory inventory increased to 1.5727 million tons [8]. - Policy: The Shanxi differential electricity price policy strengthened the expectation of capacity clearance and "anti - involution" policies, accelerating the clearance of ammonia - alkali plants [8][9]. - Outlook: The short - term is expected to be volatile and slightly stronger, but the long - term supply - demand pattern remains unoptimistic without significant export expansion or backward capacity clearance [9]. Glass - Market: On January 8, 2025, the main contract FG2605 continued to rise. The market shipment was good, with obvious inventory reduction in some areas, and prices were boosted by market sentiment [10][11]. - Supply: There is an expectation of supply reduction. The overall inventory is high with obvious regional differentiation [11]. - Outlook: Short - term supply contraction may support the price, but high inventory restricts the market. The upward trend is slow, and there is an expectation of rebound and decline before substantial positive factors appear [11]. 2. Data Overview - The report provides multiple data charts, including the price trends of soda ash and glass active contracts, soda ash weekly production, soda ash enterprise inventory, central China heavy soda market price, and flat glass production, with data from Wind and iFind [13][18][20]

行业 贵金属日评 日期 2026 年 01 月 09 日 宏观金融团队 研究员：何卓乔(宏观贵金属) 021-60635739 hezhuoqiao@ccb.ccbfutures.com 期货从业资格号：F3008762 研究员：黄雯昕(国债集运) 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 请阅读正文后的声明 每日报告 一、贵金属行情及展望 日内行情： 每日报告 二、贵金属市场相关图表 2025 年 12 月美国 ADP 私人就业增加 4.1 万，这为美联储再次暂停降息进程 提供依据，美元指数持续反弹至 98.8 附近；金银价格在前高附近遇阻后连续第二 天调整，因美元指数反弹、委内瑞拉局势恶化的避险需求边际减退，且市场关注 将于周五公布的非农就业报告的方向指示。我们认为 2025 年 12 月底的回调已经 充分释放贵金属内部积累的调整风险，总体看在国际政经格局重组、美联储宽松 货币政策、全球 ...

1. Report Industry and Date - Report industry is the pig industry, and it is a daily report [1] - Report date is January 9, 2026 [2] 2. Key Points of Each Section 2.1 Market Review and Operation Suggestions - Futures: On the 8th, the main 2603 contract of live pigs opened flat, then rose and fell in shock, closing with a negative line. The highest was 11,880 yuan/ton, the lowest was 11,685 yuan/ton, and the closing price was 11,720 yuan/ton, down 0.80% from the previous day. The total index position increased by 1,216 lots to 364,327 lots [6] - Spot: On the 8th, the national average price of ternary pigs was 12.54 yuan/kg, down 0.01 yuan/kg from the previous day [6] - Supply: In the long - term, pig slaughter is expected to maintain a slight increase until the first half of next year. The enthusiasm for secondary fattening before the festival has increased, and the utilization rate of secondary fattening pens has slightly increased. The slaughter of breeding enterprises in January may continue to increase slightly, and currently, the breeding side is slaughtering normally [7] - Demand: After the price increase, secondary fattening has decreased, with rolling replenishment demand. Post - festival consumption is slowly recovering, and there is still room for demand for curing and sausage - making. Terminal consumer consumption remains high, but the orders of slaughtering enterprises are average after the festival. The operating rate and slaughter volume of slaughtering enterprises are slowly increasing. On January 8th, the slaughter volume of sample slaughtering enterprises was 189,600 heads, 1,500 heads less than the previous day, 11,000 heads less than the previous week, and 7,000 heads more than the previous month [7] - Overall: Spot prices are mainly fluctuating due to slow - recovering post - festival consumption and relatively loose supply. Futures prices are under pressure due to the expected slight increase in pig supply, strong pre - Spring Festival demand elasticity, and relatively high secondary fattening pressure. However, the previous more severe northern epidemic in the same period continues to boost the 03 contract. Currently, the epidemic shows no signs of continued spread and only occurs sporadically seasonally [7] 2.2 Industry News - From January 4th, the proportion of small - weight pigs (below 90 kg) in the overall slaughter was 5.44%, down 0.07% from the previous week. Due to the seasonal sporadic occurrence of the epidemic, the slaughter volume of small - weight pigs in many places has decreased, and there is no sign of the epidemic spreading [8][10] 2.3 Data Overview - On January 4th, the average market sales price of 15 - kg piglets was 319 yuan/head, up 12 yuan/head from the previous week [17] - As of January 4th, the average profit per self - breeding and self - raising pig was - 28.3 yuan, an increase of 96 yuan per week; the average profit per pig raised by purchasing piglets was - 160.8 yuan, an increase of 95 yuan per week [17] - As of the week of January 4th, the average slaughter weight of live pigs was 128.66 kg, down 1.04 kg from the previous week (a week - on - week decrease of 0.80%), down 1.16 kg from the previous month (a month - on - month decrease of 0.89%), and up 2.6 kg from the same period last year (a year - on - year increase of 2.06%) [17]

多晶硅日报 油） 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 硅）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 研究员：冯泽仁（玻璃纯碱） 021-60635727 fengzeren@ccb.ccbfutures.com 行业 日期 2026 年 01 月 09 日 能源化工研究团队 研究员：李捷,CFA（原油燃料 研究员：任俊弛（PTA/MEG） 研究员：彭浩洲（工业硅/多晶 研究员：彭婧霖（聚烯烃） 研究员：刘悠然（纸浆） 期货从业资格号：F03134307 请阅读正文后的声明 每日报告 一、行情回顾与展望 ...

1. Report Industry Investment Rating No relevant information provided. 2. Core Viewpoints of the Report - Newly released data shows that the sugar production and sugar yield in Guangxi and Guangdong in December declined, which is beneficial for the rebound of sugar prices [8] - The A-share market is showing signs of high-level stagnation, increasing the likelihood of a correction. Commodities have followed suit and declined significantly, and Zhengzhou sugar has followed this trend [8] 3. Summary by Relevant Catalogs 3.1行情回顾与操作建议 - On Wednesday, New York raw sugar futures fluctuated and rebounded. The main March contract closed up 1.42% at 14.97 cents per pound. The main March contract of London ICE white sugar futures closed up 0.95% at $423.60 per ton. The raw sugar fundamentals have not changed much, and the recent continuous appreciation of the Brazilian real exchange rate has put some pressure on raw sugar, with the market in a sideways consolidation [7] - Yesterday, the main contract of Zhengzhou sugar rose first and then fell. The 05 contract closed at 5,279 yuan per ton, up 4 yuan or 0.08%, with a reduction of 10,268 contracts. The new domestic sugar quotes increased, with Nanning at 5,375 yuan per ton and Kunming at 5,220 yuan per ton [8] 3.2行业要闻 No relevant information provided. 3.3数据概览 - As of the end of December, Inner Mongolia had cumulatively produced 580,000 tons of sugar in the 2025/26 sugar - making season, with a beet sugar production rate of 11.68%. It is estimated that the final sugar production in Inner Mongolia in the 2025/26 sugar - making season will be around 710,000 tons, an increase of 50,000 tons year - on - year [10] - The Indian government will review the export performance of sugar mills after March 31, 2026, and may redistribute unused quotas to sugar mills with better export performance or willing sugar mills. A total of 1.5 million tons of sugar export quota was allocated for the 2025 - 26 sugar - crushing season [10] - Brazil exported about 2.913 million tons of sugar in December, a year - on - year increase of 2.9%. From April 2025 to December 2025, Brazil had cumulatively exported 28.1722 million tons of sugar in the 2025/26 sugar - crushing season, a year - on - year decrease of 4.16% [10] - As of January 1, Ukrainian sugar mills had cumulatively processed 10.43 million tons of beets and produced 1.574 million tons of sugar since the start of this sugar - crushing season [10]

行业 沥青日报 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 期货从业资格号：F3015157 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（碳市场工业硅） 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 ...