Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Core View - The fundamentals of Shanghai copper may be in a situation of increasing supply and demand. Industrial inventories are accumulating but still at a low level, and consumption expectations are positive. It is recommended to conduct short - term long - position trading at low prices with a light position, while paying attention to controlling the rhythm and trading risks [2]. 3. Summary by Directory Futures Market - The closing price of the main futures contract of Shanghai copper was 78,400 yuan/ton, down 30 yuan; the price of LME 3 - month copper was 9,639.50 dollars/ton, down 21 dollars. The spread between different months of the main contract was 110 yuan/ton, up 20 yuan. The trading volume of the main contract of Shanghai copper decreased by 6,478 lots to 172,204 lots. The net long position of the top 20 futures holders of Shanghai copper increased by 6,397 lots to - 1,607 lots [2]. - LME copper inventory increased by 625 tons to 108,725 tons, and the cancelled warrants increased by 25 tons to 40,975 tons. The inventory of cathode copper in the Shanghai Futures Exchange decreased by 3,127 tons to 81,462 tons, and the warehouse receipts decreased by 2,856 tons to 34,379 tons [2]. Spot Market - The price of SMM 1 copper spot was 78,455 yuan/ton, down 265 yuan; the price of Yangtze River Non - ferrous Metal Market 1 copper spot was 78,520 yuan/ton, down 210 yuan. The CIF price of Shanghai electrolytic copper (bill of lading) was 62 dollars/ton, unchanged; the average premium of Yangshan copper increased by 2.5 dollars to 45.5 dollars/ton [2]. - The basis of the CU main contract was 55 yuan/ton, down 235 yuan; the LME copper premium (0 - 3) was - 21.57 dollars/ton, down 20.62 dollars [2]. Upstream Situation - The import volume of copper ore and concentrates was 239.52 million tons, down 50.98 million tons. The TC of domestic copper smelters increased by 0.46 dollars to - 43.79 dollars/thousand tons. The price of copper concentrates in Jiangxi was 68,800 yuan/metal ton, down 210 yuan; the price in Yunnan was 69,500 yuan/metal ton, down 210 yuan [2]. - The processing fee for blister copper in the south was 800 yuan/ton, unchanged; the processing fee in the north was 750 yuan/ton, unchanged. The production of refined copper was 1.254 billion tons, unchanged. The import volume of unwrought copper and copper products increased by 34,000 tons to 464,000 tons [2]. Industry Situation - The social inventory of copper increased by 0.43 million tons to 41.82 million tons. The price of 1 bright copper wire in Shanghai increased by 100 yuan to 55,290 yuan/ton; the price of 2 copper (94 - 96%) in Shanghai was 67,350 yuan/ton, unchanged [2]. - The ex - factory price of 98% sulfuric acid of Jiangxi Copper was 600 yuan/ton, unchanged [2]. Downstream and Application - The production of copper products increased by 1.5 million tons to 209.6 million tons. The cumulative completed investment in power grid infrastructure increased by 63.169 billion yuan to 203.986 billion yuan. The cumulative completed investment in real estate development increased by 85.0427 billion yuan to 362.3384 billion yuan [2]. - The monthly production of integrated circuits increased by 68,000 pieces to 4,235,000,000 pieces [2]. Option Situation - The 20 - day historical volatility of Shanghai copper decreased by 0.29% to 10.25%, and the 40 - day historical volatility decreased by 0.04% to 9.33%. The implied volatility of the at - the - money option in the current month increased by 0.0011% to 11.93%, and the put - call ratio of the at - the - money option decreased by 0.0213 to 1.66 [2]. Industry News - Chicago Fed President Goolsbee said that the latest tariff measures announced by US President Trump have confused the inflation outlook, making it more difficult for him to support Trump's proposed interest rate cuts [2]. - Data from the National Information Center showed that in the second quarter, high - frequency data in multiple fields such as consumption, investment, industrial production, and business operations in China continued to improve. The offline consumption heat index increased by 25.5% year - on - year, the online retail sales of major household appliances increased by 28.0%, the national project winning bid amount increased by 23.4% month - on - month, and the business vitality indexes of start - up enterprises and technology - innovative enterprises increased by 38.3% and 28.2% year - on - year respectively [2]. - The central bank stated that the transmission of monetary policy takes time, and the effects of the implemented monetary policy will further emerge. In the next stage, it will continue to implement a moderately loose monetary policy, closely monitor and evaluate the transmission and actual effects of the previously implemented policies, and adjust the intensity and rhythm of policy implementation according to the domestic and international economic and financial situations and financial market operations [2]. - Yuyuantan Tian published an article pointing out that in 2025, the global trade pattern is at a critical turning point. The unpredictability of US tariff policies has created uncertainty but also promoted the global trade system to develop towards true diversification. Although the US is still an important participant in global trade, its influence is gradually weakening, and developing countries and emerging economies, especially those in Asia, Latin America, and the Middle East, are becoming new growth points in global trade [2]. - Fu Bingfeng, the executive vice - president and secretary - general of the China Association of Automobile Manufacturers, said that as of now, the proportion of new energy vehicles in China has reached 10%. It is expected that the sales volume of new energy vehicles will reach 16 million this year, and the proportion of new vehicle sales is expected to exceed 50% [2].

预计有望继续调整，但整体回调力度并不会过大，重点关注现货价格幅度。 免责声明 本报告中的信息均来源于公开可获得资料，瑞达期货股份有限公司力求准确可靠，但对这些信息的准确性及完整性不做任 多晶硅产业日报 2025-07-14 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 主力收盘价:多晶硅(日,元/吨) | 41765 | 435 8-9月多晶硅价差 | 330 | 30 | | | 主力持仓量:多晶硅(日,手) | 78328 | -7597 多晶硅-工业硅价差(日,元/吨) | 33070 | 155 | | 现货市场 | 品种现货价:多晶硅(日,元/吨) | 45500 | -500 多晶硅(菜花料)平均价(日,元/千克) | 30 | 0 | | | 基差:多晶硅(日,元/吨) | 4670 | 15 多晶硅(致密料)平均价(日,元/千克) | 36 | 0 | | | 光伏级多晶硅周平均价(周,美元/千克) | 4.94 | 0.72 多晶硅(复投料)平均价(日,元/千克) ...

塑料产业日报 2025-07-14 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 期货主力合约收盘价:聚乙烯(日,元/吨) | 7284 | -7 1月合约收盘价:聚乙烯(日,元/吨) | 7288 | 10 | | | 5月合约收盘价:聚乙烯(日,元/吨) | 7258 | 16 9月合约收盘价:聚乙烯(日,元/吨) | 7284 | -7 | | | 成交量(日,手) | 307887 | 33828 持仓量(日,手) | 421336 | -11185 | | | 1月-5月合约价差 | 30 | -6 期货前20名持仓:买单量:聚乙烯(日,手) | 352132 | 639 | | | 期货前20名持仓:卖单量:聚乙烯(日,手) | 390464 | -1586 期货前20名持仓:净买单量:聚乙烯(日,手) | -38332 | 2225 | | 现货市场 | LLDPE(7042)均价:华北(日,元/吨) | 7260 | -9.57 LLDPE(7042)均价:华东(日 ...

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints - Cost factors support the current price of cis - butadiene rubber, but downstream procurement remains cautiously followed - up, and shipment resistance may increase. It is expected that the short - term inventory level may increase slightly. - Last week, the capacity utilization rates of domestic tire enterprises varied. The production schedules of semi - steel tire enterprises under maintenance at the beginning of the month gradually recovered, which boosted the overall capacity utilization rate of tire enterprises. The maintenance of individual all - steel tire enterprises dragged down the capacity utilization rate of all - steel tires slightly. This week, the production schedules of maintenance enterprises will return to normal levels, and there is still room for the capacity utilization rate to recover, which will boost the overall capacity utilization rate of tire enterprises. - The BR2509 contract is expected to fluctuate in the range of 11,300 - 11,700 in the short term. [2] 3. Summary by Relevant Catalogs 3.1 Futures Market - The closing price of the main contract of synthetic rubber is 11,625 yuan/ton, and the main contract position is 24,429, a decrease of 1,865. - The synthetic rubber 8 - 9 spread is 20 yuan/ton, a decrease of 10. The total warehouse receipt quantity of butadiene rubber in warehouses is 1,900 tons, an increase of 300 tons. [2] 3.2 Spot Market - The mainstream price of cis - butadiene rubber (BR9000) from different petrochemical companies in different regions has different changes. For example, the mainstream price of BR9000 from Qilu Petrochemical in Shandong is 11,500 yuan/ton, a decrease of 50 yuan/ton; the mainstream price of BR9000 from Daqing Petrochemical in Shandong is 11,550 yuan/ton, an increase of 150 yuan/ton. - The basis of synthetic rubber is 25 yuan/ton. The price of Brent crude oil is 70.36 US dollars/barrel, an increase of 1.72 US dollars/barrel; the price of WTI crude oil is 68.45 US dollars/barrel, an increase of 1.88 US dollars/barrel. The price of naphtha CFR Japan is 820 US dollars/ton, the price of Northeast Asian ethylene is 1,070 US dollars/ton, the intermediate price of butadiene CFR China is 584.25 US dollars/ton, a decrease of 6.75 US dollars/ton, and the mainstream price of butadiene in the Shandong market is 9,300 yuan/ton, an increase of 100 yuan/ton. [2] 3.3 Upstream Situation - The weekly capacity of butadiene is 14.78 million tons/week, with no change; the weekly capacity utilization rate of butadiene is 68.89%, a decrease of 2.02 percentage points. - The port inventory of butadiene at the end of the week is 23,600 tons, an increase of 1,270 tons. The daily operating rate of Shandong local refinery atmospheric and vacuum distillation units is 46.14%, an increase of 1.17 percentage points. - The monthly output of cis - butadiene rubber is 122,500 tons, a decrease of 16,900 tons; the weekly capacity utilization rate of cis - butadiene rubber is 65.54%, a decrease of 1.44 percentage points. - The weekly production profit of cis - butadiene rubber is - 526 yuan/ton, a decrease of 362 yuan/ton. The social inventory of cis - butadiene rubber at the end of the week is 32,800 tons, a decrease of 400 tons; the manufacturer's inventory of cis - butadiene rubber at the end of the week is 26,500 tons, an increase of 150 tons; the trader's inventory of cis - butadiene rubber at the end of the week is 6,270 tons, a decrease of 530 tons. [2] 3.4 Downstream Situation - The monthly output of all - steel tires is 12.62 million pieces, an increase of 800,000 pieces; the monthly output of semi - steel tires is 55.23 million pieces, an increase of 1.08 million pieces. - The inventory days of all - steel tires in Shandong at the end of the week is 40.67 days, an increase of 0.22 days; the inventory days of semi - steel tires in Shandong at the end of the week is 45.76 days, a decrease of 0.72 days. - As of July 10, the inventory of high - cis cis - butadiene rubber sample enterprises in China is 32,800 tons, a decrease of 400 tons compared with the previous period, a month - on - month decrease of 1.15%. - As of July 10, the capacity utilization rate of semi - steel tire sample enterprises in China is 65.79%, a month - on - month increase of 1.66 percentage points, and a year - on - year decrease of 14.25 percentage points; the capacity utilization rate of all - steel tire sample enterprises in China is 61.11%, a month - on - month decrease of 0.42 percentage points, and a year - on - year increase of 1.55 percentage points. [2] 3.5 Industry News - In June 2025, China's heavy - truck market sold about 92,000 vehicles (wholesale caliber, including exports and new energy), a month - on - month increase of 4% compared with May this year, and an increase of about 29% compared with 71,400 vehicles in the same period last year. From January to June this year, the cumulative sales of China's heavy - truck market are about 533,300 vehicles, a year - on - year increase of about 6%. - Recently, the low - price transactions at the raw material butadiene end have gradually improved. Affected by the news of a fault in an upstream device in East China, some rigid - demand procurement has followed up with price pressure. The overall inventory of cis - butadiene rubber production enterprises has increased slightly, and the inventory of trading enterprises has decreased slightly. [2]

1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints - This week, the inventory of pure benzene in East China ports decreased by 5.75% week-on-week to 164,000 tons. The number of domestic petroleum benzene and hydrobenzene maintenance devices increased this week, and the capacity utilization rate is expected to continue to decline. Due to the restart of large domestic devices and the high volume of ships arriving at ports, pure benzene is still in a state of loose supply. Downstream demand is limited, mainly supported by styrene and caprolactam. There are plans to put new downstream devices into production this month, which may improve the supply - demand contradiction in the future market. In terms of cost, the overall global crude oil supply - demand is weak, but geopolitical uncertainties still disturb short - term oil prices. In the short term, the situation of low spot valuation caused by weak supply - demand may continue. The spot price of pure benzene is expected to fluctuate at a low level this week. Pay attention to the implementation of new downstream production capacity in the future market. BZ2603 is expected to show a volatile trend, with the daily operating range expected to be around 6,100 - 6,300 yuan/ton [2] 3. Summary by Relevant Catalogs Futures Market - The closing price of the main pure benzene contract was 6,189 yuan/ton, up 6 yuan/ton; the settlement price was 6,209 yuan/ton, down 29 yuan/ton. The trading volume was 37,605 lots, down 26,870 lots; the open interest was 14,760 lots, down 1,278 lots [2] Spot Market - The mainstream price of pure benzene in the East China market was 5,960 yuan/ton, down 25 yuan/ton; in the South China market, it was 5,950 yuan/ton; in the North China market, it was 5,860 yuan/ton, up 100 yuan/ton; in the Northeast region, it was 5,850 yuan/ton, down 20 yuan/ton. The mainstream price of hydrobenzene in Jiangsu was 6,000 yuan/ton. The FOB intermediate price of pure benzene in South Korea was 722 US dollars/ton, down 6 US dollars/ton; the CFR intermediate price of pure benzene in China was 738.5 US dollars/ton, down 6 US dollars/ton [2] Upstream Situation - The spot price of Brent DTD crude oil was 72.64 US dollars/barrel, up 2.06 US dollars/barrel. The CFR intermediate price of naphtha in the Japanese region was 584.25 US dollars/ton, down 6.75 US dollars/ton [2] Industry Situation - The capacity utilization rate of pure benzene was 78.14%, up 0.13%; the weekly output was 431,700 tons, down 1,600 tons. The port inventory of pure benzene was 174,000 tons, down 3,000 tons. The production cost was 5,327.8 yuan/ton, down 118.2 yuan/ton; the production profit was 737 yuan/ton, up 76 yuan/ton [2] Downstream Situation - The total开工率 of styrene was 79.21%, down 0.82%; the capacity utilization rate of caprolactam was 95.72%, up 6.41%; the capacity utilization rate of phenol was 78.54%, down 0.46%; the capacity utilization rate of aniline was 69.24%, down 0.1%; the capacity utilization rate of adipic acid was 64.3%, up 2% [2] Industry News - From July 4th to 10th, the weekly profit of pure benzene was 584 yuan/ton, down 153 yuan/ton compared with the previous period. As of July 14th, the total commercial inventory of pure benzene in Jiangsu port samples was 164,000 tons, down 5.75% compared with the previous period. BZ2603 fluctuated widely and closed at 6,189 yuan/ton. On the supply side, the impact of the shutdown of petroleum benzene devices expanded last week, and the capacity utilization rate decreased by 0.29% week - on - week to 77.85%; three hydrobenzene devices were shut down, and the capacity utilization rate decreased by 9.32% week - on - week to 61.95%. On the demand side, the downstream开工率 of pure benzene rose and fell last week [2]

Report Summary 1) Report Industry Investment Rating No information provided. 2) Core Viewpoints - International supply is expected to be loose, suppressing raw sugar prices, but short - term support exists due to Pakistan's import plan and reduced sugar production in Brazil's central - southern region in late June [2]. - In China, there is a divergence in price trends between domestic and foreign markets. The opening of the profit window for out - of - quota imports will release import pressure and suppress sugar prices. However, the summer consumption peak and the demand for food and beverage inventory replenishment provide some support for sugar prices [2]. - Recently, the domestic white sugar price fluctuates repeatedly following raw sugar, but shows stronger performance than the foreign market due to rising domestic demand. In the later period, with both supply and demand being strong, price fluctuations will intensify. Attention should be paid to the arrival of imported sugar and summer consumption [2]. 3) Summary by Related Catalogs Futures Market - The closing price of the main sugar futures contract is 5817 yuan/ton, with a daily increase of 7 yuan; the main contract's open interest is 327,581 hands, with a change of 17,613 hands [2]. - The number of sugar warehouse receipts is 22,716, and the effective warehouse receipt forecast is 0, a decrease of 106 [2]. - The net long position of the top 20 futures holders is - 22,354 hands [2]. 现货市场 - The estimated import price of Brazilian sugar within the quota is 4410 yuan/ton, a decrease of 70 yuan; the estimated import price of Thai sugar within the quota is 4539 yuan/ton, a decrease of 90 yuan [2]. - The estimated import price of Brazilian sugar outside the quota (50% tariff) is 5600 yuan/ton, a decrease of 90 yuan; the estimated import price of Thai sugar outside the quota (50% tariff) is 5769 yuan/ton [2]. - The spot prices of white sugar in Kunming, Nanning, and Liuzhou are 5905 yuan/ton, 6060 yuan/ton, and 6140 yuan/ton respectively, with no daily change [2]. Upstream Situation - The national sugar - crop sown area is 1480 thousand hectares, an increase of 60 thousand hectares. The sown area of sugarcane in Guangxi is 835.09 thousand hectares, a decrease of 12.86 thousand hectares [2]. - The national cumulative sugar production is 11.1621 million tons, an increase of 54,900 tons; the cumulative sugar sales volume is 8.1138 million tons, an increase of 869,200 tons [2]. - The national industrial sugar inventory is 3.0483 million tons, a decrease of 814,300 tons; the national sugar sales rate is 72.69%, an increase of 7.47 percentage points [2]. - The monthly import volume of sugar is 350,000 tons, an increase of 220,000 tons; Brazil's monthly sugar export volume is 3.359 million tons, an increase of 1.1024 million tons [2]. Industry Situation - The price difference between imported Brazilian sugar and the current price of Liuzhou sugar within the quota is 1543 yuan/ton, an increase of 84 yuan; the price difference between imported Thai sugar and Liuzhou sugar within the quota is 1414 yuan/ton, an increase of 85 yuan [2]. - The price difference between imported Brazilian sugar and the current price of Liuzhou sugar outside the quota (50% tariff) is 353 yuan/ton, an increase of 105 yuan; the price difference between imported Thai sugar and Liuzhou sugar outside the quota (50% tariff) is 184 yuan/ton, an increase of 105 yuan [2]. Downstream Situation - The cumulative year - on - year growth rate of refined sugar production is 16.7%, an increase of 2.6 percentage points; the cumulative year - on - year growth rate of soft drink production is 3%, a decrease of 0.9 percentage points [2]. Option Market - The implied volatility of at - the - money call and put options for sugar is 7.55%, a decrease of 3.45 percentage points [2]. - The 20 - day historical volatility of sugar is 6.58%, a decrease of 0.03 percentage points; the 60 - day historical volatility is 7.55%, a decrease of 0.04 percentage points [2]. Industry News - The US Department of Agriculture's latest supply - demand report shows that the US sugar production in the 2025/26 sugar - making season starting in October is 9.19 million short tons, a decrease of 59,000 short tons from last month's estimate due to the decline in beet sugar production. Sugar consumption is expected to be reduced by 165,000 short tons to 12.16 million short tons [2].

碳酸锂产业日报 2025/7/14 免责声明 本报告中的信息均来源于公开可获得资料，瑞达期货股份有限公司力求准确可靠，但对这些信息的准确性及完整性不做任何保证，据此投资，责任自负。本报告不构成个人投资建 议，客户应考虑本报告中的任何意见或建议是否符合其特定状况。本报告版权仅为我公司所有，未经书面许可，任何机构和个人不得以任何形式翻版、复制和发布。如引用、刊发， 需注明出处为瑞 达研究瑞达期货股份有限公司研究院，且不得对本报告进行有悖原意的引用、删节和修改。 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | | 主力合约收盘价（日，元/吨） | 66,480.00 | +2200.00↑ 前20名净持仓（日，手） | -84,897.00 | +10188.00↑ | | 期货市场 | 主力合约持仓量（日，手） | 356,161.00 | +33301.00↑ 近远月合约价差（日，元/吨） | -60.00 | +1080.00↑ | | | 广期所仓单（日，手/吨） | 11,603.00 | - ...

Report Summary 1) Report Industry Investment Rating No information provided in the given content. 2) Core View of the Report The egg price has been at a relatively low level compared to the same period, and the breeding end has been in a state of continuous loss. However, after the price reaches a relatively low level, the process of old - hen culling has accelerated, reducing the inventory expectation. The egg - laying rate of laying hens in some areas has declined due to high - temperature weather, alleviating the short - term market supply pressure. Coupled with the gradual recovery of terminal demand, the egg price has rebounded. The decline of the futures market has also slowed down, and it is recommended to try to go long on the far - month contracts with a light position [2]. 3) Summary by Relevant Catalogs Futures Market - The closing price of the active egg futures contract is 3461 yuan/500 kilograms, with a week - on - week increase of 19; the net long position of the top 20 futures holders is - 27512 hands, with a week - on - week increase of 1339 [2]. - The monthly spread of egg futures (9 - 1) is - 10 yuan/500 kilograms, with a week - on - week increase of 22; the trading volume of the active futures contract is 99503 hands, with a week - on - week decrease of 11564 [2]. - The registered warehouse receipt volume of eggs is 24 hands, with no week - on - week change [2]. Spot Market - The spot price of eggs is 2.78 yuan/jin, with a week - on - week increase of 0.19; the basis (spot - futures) is - 676 yuan/500 kilograms, with a week - on - week increase of 170 [2]. Upstream Situation - The national laying - hen inventory index is 110.89 (2015 = 100), with a month - on - month decrease of 1.46; the national culled laying - hen index is 108.68 (2015 = 100), with a month - on - month increase of 11.92 [2]. - The average price of laying - hen chicks in the main production areas is 3.9 yuan/chick, with no week - on - week change; the national new - chick index is 106.78 (2015 = 100), with a month - on - month decrease of 31.9 [2]. - The average price of laying - hen compound feed is 2.72 yuan/kg, with no week - on - week change; the breeding profit of laying hens is - 0.69 yuan/hen, with a week - on - week decrease of 0.11 [2]. - The average price of culled hens in the main production areas is 9.2 yuan/kg, with a week - on - week decrease of 0.2; the average age of culled hens in the country is 506 days, with a month - on - month decrease of 4 [2]. Industry Situation - The average wholesale price of pork is 20.6 yuan/kg; the average wholesale price of 28 key - monitored vegetables is 4.41 yuan/kg, with a week - on - week decrease of 0.01 [2]. - The average wholesale price of white - striped chickens is 17.21 yuan/kg; the weekly inventory in the circulation link is 1.17 days, with a week - on - week decrease of 0.1 [2]. - The weekly inventory in the production link is 1.05 days, with a week - on - week decrease of 0.09; the monthly export volume of fresh eggs is 12792.51 tons, with a month - on - month decrease of 110.81 [2]. Downstream Situation The weekly consumption of eggs in the sales areas is 7606 tons, with a week - on - week decrease of 331 [2]. Industry News - The average price of eggs in Shandong, the main production area, is 5.52 yuan/kg, with an increase of 0.49 compared to yesterday; the average price of eggs in Hebei is 5.19 yuan/kg, with an increase of 0.60 compared to yesterday [2]. - The average price of eggs in Guangdong is 6.40 yuan/kg, with an increase of 0.60 compared to yesterday; the average price of eggs in Beijing is 5.60 yuan/kg, with an increase of 0.40 compared to yesterday [2].

Group 1: Report Industry Investment Rating - No information provided Group 2: Core Viewpoints of the Report - The recent supply and demand are both weak. Downstream buyers purchase as needed, leading to a slight increase in domestic social inventory, while overseas inventory remains stable. Technically, there is a divergence between long and short positions at a low level of open interest. Attention should be paid to the pressure of MA60. It is recommended to wait and see for now [3] Group 3: Summary by Relevant Catalogs 1. Futures Market - The closing price of the main futures contract of Shanghai Nickel is 121,100 yuan/ton, down 290 yuan; the price difference between the 08 - 09 contracts of Shanghai Nickel is -120 yuan/ton, down 10 yuan. The LME 3 - month nickel price is 15,235 dollars/ton, down 50 dollars. The open interest of the main contract of Shanghai Nickel is 59,940 lots, down 1,587 lots. The net long position of the top 20 futures holders of Shanghai Nickel is -14,145 lots, down 3,937 lots. The LME nickel inventory is 206,580 tons, up 402 tons. The Shanghai Futures Exchange nickel inventory is 25,047 tons (weekly), up 125 tons. The LME nickel cancelled warrants total 9,318 tons, up 768 tons. The warehouse receipt quantity of Shanghai Nickel is 21,296 tons, up 854 tons [3] 2. Spot Market - The SMM 1 nickel spot price is 121,750 yuan/ton, down 400 yuan. The spot average price of 1 nickel plate in Yangtze River Non - ferrous is 121,850 yuan/ton, down 200 yuan. The CIF (bill of lading) price of Shanghai electrolytic nickel is 85 dollars/ton, unchanged. The bonded warehouse (warehouse receipt) price of Shanghai electrolytic nickel is 85 dollars/ton, unchanged. The average price of battery - grade nickel sulfate is 27,900 yuan/ton, unchanged. The basis of the NI main contract is 650 yuan/ton, down 110 yuan. The LME nickel (spot/three - month) premium is -202.24 dollars/ton, down 3.99 dollars [3] 3. Upstream Situation - The monthly import volume of nickel ore is 392.72 million tons, up 101.31 million tons. The total port inventory of nickel ore is 896.49 million tons (weekly), up 24.65 million tons. The average monthly import unit price of nickel ore is 73.42 dollars/ton, down 5.44 dollars. The含税 price of Indonesian laterite nickel ore with 1.8% Ni is 41.71 dollars/wet ton, unchanged [3] 4. Industry Situation - The monthly electrolytic nickel output is 29,430 tons, up 1,120 tons. The total monthly nickel - iron output is 23,900 metal tons, up 2,200 metal tons. The monthly import volume of refined nickel and alloys is 17,687.58 tons, down 1,058.97 tons. The monthly import volume of nickel - iron is 84.82 million tons, up 3.13 million tons [3] 5. Downstream Situation - The monthly output of 300 - series stainless steel is down 3.96 million tons. The total weekly inventory of 300 - series stainless steel is 62.44 million tons, up 1.85 million tons [3] 6. Industry News - Chicago Fed President Goolsbee said that the latest tariff measures announced by US President Trump have muddied the inflation outlook again, making it more difficult for him to support the interest - rate cut policy strongly advocated by Trump. The central bank stated that the transmission of monetary policy takes time, and the effects of the implemented monetary policies will further emerge. In the next stage, it will continue to implement a moderately loose monetary policy, closely monitor and evaluate the transmission and actual effects of the previously implemented policies, and adjust the intensity and rhythm of policy implementation according to domestic and international economic and financial situations and financial market operations [3]

生猪产业日报 2025-07-14 免责声明 本报告中的信息均来源于公开可获得资料，瑞达期货股份有限公司力求准确可靠，但对这些信息的准确性及完整性不做任 何保证，据此投资，责任自负。本报告不构成个人投资建议，客户应考虑本报告中的任何意见或建议是否符合其特定状况。本 报告版权仅为我公司所有，未经书面许可，任何机构和个人不得以任何形式翻版、复制和发布。如引用、刊发，需注明出处为 瑞达期货股份有限公司研究院，且不得对本报告进行有悖原意的引用、删节和修改。 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货盘面 | 期货主力合约收盘价:生猪(日,元/吨) | 14285 | -60 主力合约持仓量:生猪(日,手) | 69384 | -2852 | | | 仓单数量:生猪(日,手) | 444 | -3 期货前20名持仓:净买单量:生猪(日,手) | -16658 | 219 | | 现货价格 | 生猪价 河南 驻马店(日,元/吨) | 14600 | -100 生猪价 吉林 四平(日,元/吨) | 1 ...