研究所 沥青研发报告 沥青日报 2026 年 02 月 24 日 沥青日报 第一部分 相关数据 | | | 名称 | 2026/02/24 | 2026/02/13 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | --- | | | | 期货价格与持仓 | | | | | | 研究员： | | BU2603（主力） | 3334 | 3264 | 70 | 2.14% | | 吴晓蓉 | | BU2604 | 3348 | 3280 | 68 | 2.07% | | 期货从业证号： | | BU2605 | 3364 | 3284 | 80 | 2.44% | | F03108405 | | SC2603 | 493.3 | 460.7 | 32.6 | 7.08% | | 投资咨询从业证号： | | Brent首行 | 71.65 | 67.33 | 4.3 | 6.42% | | Z0021537 | | 主力合约持仓/万手 | 14.6 | 14.3 | 0.3 | 1.76% | | ： | 021-65789108 | 主力合约成交/万手 | ...

粕类日报 2026 年 2 月 24 日 【粕类日报】利多反应充分 盘面整体下行 研究员：陈界正 期货从业证号： F3045719 投资咨询证号： 研究所 农产品研发报告 Z0015458 联系方式： chenjiezheng_qh@chinastock.c om.cn | 粕类价格日报 | | | | | | 2026/2/24 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 期 货 | | | | | | 现货基差 | | | 品 种 | 合 约 | 收盘价 | 涨 跌 | 地 区 | 今 日 | 昨 日 | 涨 跌 | | 豆粕 | 0 1 | 2950 | -14 | 天津 | 360 | 370 | -10 | | 东莞 | 0 5 | 2781 | -19 | | 260 | 270 | -10 | | 张家港 | 0 9 | 2890 | -16 | | 260 | 270 | -10 | | 日照 | | | | | 280 | 280 | 0 | | 菜粕 | 0 1 | 2263 | - 1 | 南通 | 240 | 221 ...

研究所 燃料油研发报告 燃料油日报 2026 年 2 月 24 日 燃料油日报 第一部分 相关数据 1 / 4 研究所 燃料油研发报告 第二部分 市场研判 市场概况 新加坡纸货市场，高硫 Mar/Apr 月差跌 2.7 至 1.50 美金/吨，低硫 Mar/Apr 月差跌 0.4 至 2.75 美金/吨。 重要资讯 F03108405 Z0021537 ： 021-65789108 @chinastock.com.cn | 研究员： | | | 2026/2/24 | 2026/2/13 | 2026/2/6 | 2026/1/27 | Δ日 | | --- | --- | --- | --- | --- | --- | --- | --- | | 吴晓蓉 | | FU主力 | 2942 | 2840 | 2831 | 2692 | 102 | | 期货从业证号： | | FU主力持仓(万手) | 30.3 | 26.6 | 28.3 | 20.9 | 3.8 | | | | FU仓单(吨) | 1300 | 1300 | 9930 | 51550 | 0 | | F03108405 | | LU主力 | 3 ...

天然气日报 2026 年 2 月 24 日 研究所 天然气研发报告 天然气市场日报 | | | | 国际天然气价格 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 美元/MMBTU | 2026/2/23 | 2026/2/20 | 2026/2/17 | | 2026/1/23 日度涨跌幅 7日涨跌幅 | | 30日涨跌幅 | | HH 2603 | 2.985 | 3.047 | 3.031 | 3.609 | -2.03% | -1.52% | -17.29% | | HH 2604 | 2.921 | 2.984 | 2.938 | 3.501 | -2.11% | -0.58% | -16.57% | | JKM 2604 | 10.725 | 10.66 | 9.96 | 11.07 | 0.61% | 7.68% | -3.12% | | JKM 2605 | 10.53 | 10.395 | 9.86 | 10.48 | 1.30% | 6.80% | 0.48% | | TTF 2603 | 31.834 | 32. ...

期 货 眼 ·日 迹 每日早盘观察 银河期货研究所 2026 年 2 月 24 日 0 / 49 研究所 期货眼·日迹 | 股指期货：关税再生波折 结构行情仍在 3 | | --- | | 国债期货："两会"临近，关注相关政策信息 4 | | 蛋白粕：市场扰动增加 | 盘面震荡运行 5 | | --- | --- | | 白糖：宏观不确定再增 | 国际糖价上涨 5 | | 油脂板块：地缘扰动再起，油脂波动增加 7 | | | 玉米/玉米淀粉：产区现货稳定，盘面高位震荡 8 | | | 生猪：供应压力明显 | 价格继续下行 9 | | 花生：花生现货稳定，花生盘面窄幅震荡 9 | | | 鸡蛋：节后进入淡季 | 蛋价稳中有落 10 | | 苹果：去库速度尚可，果价震荡偏强 11 | | | 棉花-棉纱：基本面变化不大 | 棉价有所支撑 12 | | 钢材：节后钢材压力仍存 14 | | --- | | 双焦：煤矿陆续复产，关注国内外煤炭市场变化 14 | | 铁矿：基本面持续弱化，矿价偏弱运行 15 | | 铁合金：成本支撑较强，逢低作为多头配置 16 | | 金银：宏观不确定性增加 延续低多思路 17 | | ...

BR 日报 【银河期货】丁二烯橡胶每日早盘观察（26-02-24） 丁二烯橡胶：节前仓库仓单大幅累库 【市场情况】 BR 丁二烯橡胶相关：BR 主力 04 合约报收 12590 点，下跌-190 点或- 1.49%。截至前日 18 时，山东地区大庆石化顺丁报收 12500-12600 元/吨，山东民 营顺丁报收 12200-12300 元/吨，华东市场扬子石化顺丁报收 12600 元/吨，华南 地区茂名石化顺丁报收 12500-12700 元/吨。山东地区抚顺石化丁苯 1502 报收 12800-12900 元/吨。山东地区丁二烯报收 10600-10700 元/吨。 RU/NR 天然橡胶相关：RU 主力 05 合约报收 16315 点，下跌-135 点或- 0.82%。日胶主连报收 354.5 点，节中累计上涨+7.4 点或+2.1%。截至前日 12 时， 销地 WF 报收 16150-16200 元/吨，越南 3L 混合报收 16700 元/吨。NR 主力 04 合约报收 1380 点，下跌-190 点或-1.42%；新加坡 TF 主力 05 合约报收 193.8 点，节中累计上涨+2.0 点或+1.0% ...

L&PP 日报 【银河期货】塑料 PP 每日早盘观察（26-02-24） 塑料 L 及 PP：L 仓单持平，PP 仓单累库 【市场情况】 【逻辑分析】 截至节前：大商所 L 合约注册仓单维持在 0.94 万吨，同比累库+43.2%；大商所 PP 合约注册仓单累库+6.6%至 1.87 万吨，同比累库+94.2%。1 月，LLDPE 月度检修 损失量增长至 13.4 万吨，同比增长+37.1%，涨幅扩大，利多 L。 【交易策略】 1.单边：L 主力 2605 合约观望，关注 6600 点前期低位处的支撑；PP 主力 2605 合约少量试空，宜在 6620 点近日低位处设置止损。 L 塑料相关：L 主力 2605 合约报收 6644 点，下跌-90 点或-1.34%。LLDPE 市场 价格横盘整理，节前业者多已离市，报盘稳定为主，市场有价无市。华北大区 LLDPE 主流成交价格在 6520-6900 元/吨，价格稳定。华东大区 LLDPE 主流成交价格在 6620-7000 元/吨，区间价格稳定。 PP 聚丙烯相关：PP 主力 2605 合约报收 6568 点，下跌-80 点或-1.20%。节前国 内 PP 市场 ...

RU、NR 日报 【银河期货】天然橡胶及 20 号胶每日早盘观察（26-02-24） 天然橡胶及 20 号胶：外盘走强 【市场情况】 RU 天然橡胶相关：RU 主力 05 合约报收 16315 点，下跌-135 点或-0.82%。 日胶主连报收 354.5 点，节中累计上涨+7.4 点或+2.1%。截至前日 12 时，销地 WF 报收 16150-16200 元/吨，越南 3L 混合报收 16700 元/吨，泰国烟片报收 18400-18500 元/吨，产地标二报收 14200-14300 元/吨。 NR 20 号胶相关：NR 主力 04 合约报收 1380 点，下跌-190 点或-1.42%；新 加坡 TF 主力 05 合约报收 193.8 点，节中累计上涨+2.0 点或+1.0%。截至前日 18 时，烟片胶船货报收 2280-2300 美元/吨，泰标近港船货报收 1960-1980 美元/ 吨，泰混近港船货报收 1960-1980 美元/吨，马标近港船货报收 1950-1970 美元/ 吨，人民币混合胶现货报收 15250-15300 元/吨。 BR 丁二烯橡胶相关：BR 主力 04 合约报收 12590 ...

Report Date - The report is dated February 13, 2026 [2] Bond Futures Transaction Summary Overall Transaction - The total trading volume of all bond futures was 208,389,000, a 64% increase; the total turnover was 226.1 billion, a 64% increase; the total open interest was 333,516,000, a decrease of 16,937,000; and the total margin for open positions was 72.4 billion [3] Different Contracts - **T Contracts**: The closing prices of T2603, T2606, and T2609 decreased by 0.10%, 0.06%, and 0.03% respectively; the trading volumes increased by 58%, 69%, and 280% respectively; the turnovers increased by 58%, 69%, and 280% respectively; the open interests of T2603 decreased by 40,918, while T2606 increased by 23,718, and T2609 had 7,646 open positions; the margin for open positions was 31.1 billion, 39.7 billion, and 1.7 billion respectively [3] - **TF Contracts**: The closing prices of TF2603, TF2606, and TF2609 decreased by 0.09%, 0.04%, and 0.02% respectively; the trading volumes increased by 26%, 116%, and 6% respectively; the turnovers increased by 26%, 116%, and 6% respectively; the open interests of TF2603 decreased by 22,141, while TF2606 increased by 21,660, and TF2609 had 9,030 open positions; the margin for open positions was 6.7 billion, 16.3 billion, and 1.1 billion respectively [3] - **TL Contracts**: The closing prices of TL2603, TL2606, and TL2609 increased by 0.04%, 0.06%, and 0.08% respectively; the trading volumes increased by 55%, 96%, and 79% respectively; the turnovers increased by 55%, 96%, and 78% respectively; the open interests of TL2603 decreased by 15,702, while TL2606 increased by 8,103, and TL2609 had 8,194 open positions; the margin for open positions was 28.3 billion, 40.2 billion, and 3.2 billion respectively [3] - **TS Contracts**: The closing prices of TS2603, TS2606, and TS2609 decreased by 0.03%, 0.02%, and 0.01% respectively; the trading volumes of TS2603 decreased by 25%, TS2606 increased by 31%, and TS2609 decreased by 13%; the turnovers decreased by 25%, increased by 31%, and decreased by 13% respectively; the open interests of TS2603 decreased by 7,354, while TS2606 increased by 6,904, and TS2609 had 1,310 open positions; the margin for open positions was 2.8 billion, 4.4 billion, and 0.1 billion respectively; the total trading volume decreased by 8%, the turnover decreased by 8%, the open interest decreased by 426, and the margin for open positions was 7.4 billion [3] Bond Futures Net Open Interest - The report presents the net open interest trends of two - year, five - year, ten - year, and thirty - year bond futures, including the net open interest changes of the top five, top ten, and top twenty positions over time, but specific data mainly shows the percentage range and time points [5][7][8] Bond Futures Open Interest Positions Two - Year Bond Futures - **2603 Contract**: In terms of trading volume, Dongzheng Futures (on behalf of clients) had 12,054 contracts with a decrease of 2,364; in terms of long positions, Ping'an Futures (on behalf of clients) had 4,275 contracts with an increase of 2,105; in terms of short positions, CITIC Futures (on behalf of clients) had 6,643 contracts with a decrease of 1,326 [10] - **2606 Contract**: CITIC Futures (on behalf of clients) had the highest trading volume of 12,428 contracts with an increase of 7,024; CITIC Futures (on behalf of clients) had the highest long positions of 7,372 contracts with an increase of 901; Guotai Jun'an (on behalf of clients) had the highest short positions of 11,516 contracts with an increase of 1,457 [12] Five - Year Bond Futures - **2603 Contract**: CITIC Futures (on behalf of clients) had the highest trading volume of 32,446 contracts with an increase of 6,174; CITIC Futures (on behalf of clients) had the highest long positions of 9,118 contracts with a decrease of 2,336; Guotai Jun'an (on behalf of clients) had the highest short positions of 11,904 contracts with a decrease of 3,088 [13] - **2606 Contract**: CITIC Futures (on behalf of clients) had a trading volume of 31,735 contracts with an increase of 16,320; Dongzheng Futures (on behalf of clients) had the highest long positions (in the table's ranking logic) of 27,608 contracts with an increase of 1,231; CITIC Futures (on behalf of clients) had the highest short positions of 22,797 contracts with an increase of 2,144 [16] Ten - Year Bond Futures - **2603 Contract**: CITIC Futures (on behalf of clients) had the highest trading volume of 62,002 contracts with an increase of 22,265; CITIC Futures (on behalf of clients) had long positions of 24,772 contracts with a decrease of 7,533; Dongzheng Futures (on behalf of clients) had the highest short positions of 19,215 contracts with a decrease of 6,417 [17] - **2606 Contract**: CITIC Futures (on behalf of clients) had a trading volume of 38,484 contracts with an increase of 11,527; CITIC Futures (on behalf of clients) had the highest long positions of 40,782 contracts with an increase of 6,077; CITIC Futures (on behalf of clients) also had relatively high short positions of 27,944 contracts with an increase of 3,071 [20] Thirty - Year Bond Futures - **2603 Contract**: CITIC Futures (on behalf of clients) had the highest trading volume of 43,495 contracts with an increase of 19,652; Guotai Jun'an (on behalf of clients) had the highest long positions of 13,808 contracts with a decrease of 2,622; Guotai Jun'an (on behalf of clients) also had the highest short positions of 13,662 contracts with a decrease of 1,636 [22] - **2606 Contract**: CITIC Futures (on behalf of clients) had a trading volume of 27,528 contracts with an increase of 13,548; CITIC Futures (on behalf of clients) had the highest long positions of 18,524 contracts; Dongzheng Futures (on behalf of clients) had the highest short positions of 16,346 contracts with an increase of 710 [24]

1. Report Industry Investment Rating - No relevant content provided 2. Core View of the Report - No clear core view presented in the given content 3. Summary According to Related Catalogs Futures Market Data - DCE01 remained unchanged at 733.5, DCE05 decreased by 0.5 to 762.0, and DCE09 remained at 745.0 [2] - The spread I01 - I05 increased by 0.5 to -28.5, I05 - I09 decreased by 0.5 to 17.0, and I09 - I01 remained at 11.5 [2] Spot Market Data - Prices of most iron ore spot varieties remained stable, with some minor changes like FMG increasing by 1, SP10 increasing by 4, and Ukrainian concentrate increasing by 8 [2] - The optimal deliverable was BRBF(63%) with a price of 803, 01 - contract basis of 62, 05 - contract basis of 33, and 09 - contract basis of 50 [2] Spot Variety Spread and Import Profit - Some spreads remained stable (e.g., Carajás - PB powder at 97), while others changed slightly (e.g., Newman lump - Newman powder increased by 2) [2] - Import profits also had minor changes: Carajás increased by 1 to 0, Newman powder decreased by 1 to 48, etc. [2] Index Data - The Platts 61% iron ore price decreased by 0.3 to 100.0, 65% remained at 116.5, and 58% decreased by 0.3 to 92.0 [2] - The SGX - DCE spreads remained mostly unchanged (e.g., SGX main - DCE01 at 4.1) [2]