Report Summary 1. Industry Investment Rating No industry investment rating is provided in the report. 2. Core View The report anticipates that coal prices will remain stable in the short - term. Although the supply is tightening with low production in major coal - producing areas, the demand growth is limited due to the overall economic situation. The port inventory is stable, and the power plants' inventory is in different states. The coastal power plants are increasing procurement, but the daily coal consumption is low [4]. 3. Summary by Directory Market Review - On November 21, the port market showed a sideways shock pattern. Affected by gale - induced navigation closures, the inventory in Bohai Rim ports increased significantly, and some ports restricted unloading. The prices of different calorific value coal in ports, Inner Mongolia, Yulin, Shanxi, and Jiangnei ports are provided [2]. Important Information - According to the National Bureau of Statistics on November 14, the power production of industrial enterprises above designated size in China accelerated. In October, the power generation was 800.2 billion kWh, a year - on - year increase of 7.9%, 6.4 percentage points faster than in September. From January to October, the power generation was 8062.5 billion kWh, a year - on - year increase of 2.3% [3]. Logical Analysis - **Supply**: The impact of production restrictions still exists. The coal mine operating rates in major coal - producing areas of Shanxi, Shaanxi, and Inner Mongolia are generally stable. As of November 20, the coal mine operating rate in Ordos was 78%, and in Yulin was 46%. The daily coal output in Ordos and Yulin was over 3.9 million tons, and the domestic supply tightened overall. - **Import**: China's demand weakened, but international coal prices still rose. - **Demand**: This week, the demand was average. China's procurement demand weakened, Japan and South Korea's procurement was average, and India's procurement demand showed no improvement. The precipitation in Indonesia affected the supply, and the overseas cargo volume was small, with miners having a strong willingness to hold prices. The demand for heating coal increased significantly with the arrival of winter, but the coal - consumption demand in the industrial sector was lackluster due to the overall economic situation. Power plants were cautious in procurement, mainly locking in coal sources through long - term contracts and adjusting market coal purchases according to market dynamics. - **Inventory**: Railway transportation returned to normal. The average daily transportation volume of the Datong - Qinhuangdao line was 1.3 million tons, and the number of approved trains by the Hohhot Railway Bureau was around 30. The port inventory was generally stable. As of November 21, the inventory in Bohai Rim ports was 24.48 million tons, at a neutral level over the years. The daily consumption of coastal power plants was low, but the inventory was continuously decreasing, while the inventory of inland power plants was at a neutral level. - **Overall Situation**: In late November, the coal production in major producing areas was low. The coal mine operating rates in Ordos and Yulin were stable, with a daily output of around 3.8 million tons, and the supply tightened. The power plant inventory was continuously decreasing, and the import profit was available. Coastal power plants increased procurement. The port inventory fluctuated within a range. The daily coal consumption of power plants was low, but the coastal power plant inventory was lower than the same period, with continuous rigid - demand procurement. The port FOB price rose continuously. The coal mine operating rate was low due to strengthened safety supervision at the mine mouth, and the chemical coal demand was okay, with the increase of the mine - mouth price narrowing. It is expected that coal prices will remain stable in the short - term [4].

双焦：下跌风险得到释放 关注交易逻辑的切换 研究员：郭超 期货从业证号：F03119918 投资咨询证号：Z0022905 2025年11月21日 目录 第一章 综合分析与交易策略 第二章 核心逻辑分析 第三章 周度数据追踪 单边：当前焦煤的下跌已经一定程度上计价了现有的利空因素，预计近期盘面震荡运行，建议空单止盈。中期看后期焦钢 企业对于原料还有冬储的需求，叠加年底部分煤矿完成生产任务会有减产检修，可等待盘面出现企稳迹象后逢低轻仓试多 远月合约，同时对于上涨空间持谨慎态度。 套利：焦煤1/5反套可继续持有。 期权：观望 (观点仅供参考，不作为买卖依据） 数据来源：Mysteel 银河期货 目录 第一章 综合分析与交易策略 第二章 核心逻辑分析 GALAXY FUTURES 1 投资逻辑与交易策略 逻辑分析 交易策略 GALAXY FUTURES 2 近期整体商品情绪偏弱，焦煤本身波动较大，跌幅也靠前。焦煤的下跌，主要是市场预期发生了改变，发改委供暖季能源 保供会议后，前期煤矿减产逻辑弱化，保供逻辑增强。同时基本面上也边际转弱，在阶段性补库后，市场恐高情绪出现， 下游采购积极性减弱，观望情绪强。山西煤竞拍流拍 ...

Report Title Market Expectations Fluctuate, Iron Ore Prices Under Pressure at High Levels [1] 1. Report Industry Investment Rating No relevant content provided. 2. Core View of the Report This week, iron ore prices rose from the bottom. Supply-side disturbances resurfaced, significantly impacting market sentiment in the short term, but the room for further increase is limited. The overall supply pattern in the fourth quarter remains loose. The rapid decline in domestic steel demand is expected to dominate medium-term iron ore prices, and it is predicted that iron ore prices will mainly operate with a high-level downward trend [3]. 3. Summary by Relevant Catalogs 3.1 Comprehensive Analysis and Trading Strategy - **Logic Analysis**: Since November, the supply side has remained stable. Mainstream Australian mines are basically flat year-on-year, while Brazilian mines contribute a small increase. Non-mainstream shipments have slightly declined compared to the high in the third quarter but still contribute an increase year-on-year. From the demand side, domestic terminal steel demand has shown signs of improvement in the fourth quarter but remains low in the medium term. Overseas steel demand maintains high growth. Overall, the rapid decline in domestic steel demand is expected to dominate medium-term iron ore prices, and the iron ore supply-demand pattern in China has become looser since the fourth quarter [3]. - **Trading Strategy**: Adopt a bearish approach for unilateral trading, and adopt a wait-and-see approach for arbitrage and options trading [3]. 3.2 Iron Ore Core Logic Analysis 3.2.1 Global Iron Ore Shipment Volume - Global iron ore shipment volume has rebounded rapidly on a weekly basis. In 2025 to date, the weekly average of global iron ore shipments is 31.13 million tons, a year-on-year increase of 2% or 28 million tons. Among them, the weekly average of Australian shipments is 17.85 million tons, a year-on-year decrease of 0.3% or 2 million tons, and the weekly average of Brazilian shipments is 7.6 million tons, a year-on-year increase of 3.4% or 11.5 million tons [6][13]. - Non-Australian and non-Brazilian iron ore shipments have rebounded slightly on a weekly basis. In 2025 to date, the weekly average of non-Australian and non-Brazilian iron ore shipments is 18.7 million tons, a year-on-year increase of 7.7%. The third quarter saw an improvement in non-mainstream iron ore shipments, and although the fourth quarter shipments have slightly declined compared to the high in the third quarter, they still contribute a certain increase year-on-year [14][15]. 3.2.2 Imported Iron Ore Port Inventory - This week, the total inventory of imported iron ore ports has slightly declined. Since August, the total domestic iron element inventory has continued to increase, and the inventory accumulation has exceeded 12 million tons. Currently, the total domestic iron element inventory is at a high level in the past five years, second only to the level in 2021 [16][25]. 3.2.3 Terminal Steel Demand - Since the third quarter of 2025, domestic molten iron production has increased by 3.3% or 11.3 million tons year-on-year, and crude steel production has increased by 3% or 12 million tons year-on-year. However, domestic crude steel consumption has decreased by 3.3% or 12.3 million tons year-on-year (excluding exports). Overseas iron element consumption has increased by nearly 4% or 27.6 million tons year-on-year, and has been at a high level year-on-year since the second quarter, continuously contributing an increase [26][30]. 3.2.4 Iron Ore Supply and Demand Analysis - The overall supply of iron ore in the fourth quarter remains loose, and the rapid decline in domestic steel demand is expected to dominate medium-term iron ore prices [3]. 3.2.5 Iron Ore Price and Profit - No specific summary of price and profit trends is provided in the text, but only various price and profit data charts are presented. 3.2.6 Iron Ore Futures Basis and Spread - The basis of the iron ore main contract has room to decline, and various basis and spread data charts are presented [44]. 3.2.7 Global Four Major Mines' Shipments - Various data charts of the global shipments of the four major mines are presented, but no specific summary is provided [46]. 3.2.8 Imported Iron Ore Port Inventory Structure - Various data charts of the port inventory structure of imported iron ore are presented, but no specific summary is provided [49].

1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints - The high inventory pressure on methanol remains, and the market is in a weak state. The international device operating rate has increased, with some devices in Iran restarted and daily output rising to around 35,000 tons. The port spot liquidity is sufficient, but the overall trading is light. The US dollar price has been continuously falling, and imports remain in a positive spread situation. The downstream demand is stable, but the port inventory continues to accumulate. Coal prices are stable, coal - to - methanol profits are stable, and domestic supply is abundant. The methanol market is expected to continue its weak trend [4]. 3. Summary by Relevant Catalogs Chapter 1: Comprehensive Analysis and Trading Strategies - **Raw material coal**: As of November 20, the coal mine operating rate in Ordos is 76%, and in Yulin is 46%. The coal mines have resumed production, and the daily coal output in Ordos and Yulin is around 4 million tons. The demand is fair, and the pit - mouth price is firm [4]. - **Supply**: The profit of coal - to - methanol is around 320 yuan/ton, and the methanol operating rate is stable at a high level. Domestic supply is continuously loose. The US dollar price has been falling, and imports remain in a positive spread. The operating rate of non - Iranian devices has increased slightly, and the external market operating rate has risen to a high level [4]. - **Demand**: The operating rate of MTO devices has rebounded. Some MTO devices are running stable, while some are operating at less - than - full capacity [4]. - **Inventory**: The port inventory accumulation cycle has ended, and the basis is relatively strong. The inventory of inland enterprises fluctuates slightly. However, with the increase in arrivals and a slight decline in MTO operating rate, the port inventory continues to accumulate [4]. - **Trading strategies**: For single - side trading, stop - profit on short positions; for arbitrage, adopt a wait - and - see approach; in the over - the - counter market, sell call options [4]. Chapter 2: Weekly Data Tracking 2. Core Data Weekly Changes - **Supply - Domestic**: As of November 20, the overall operating load of domestic methanol devices is 76.25%, a decrease of 0.29 percentage points from last week but an increase of 1.54 percentage points from the same period last year. The operating load in the northwest region is 85.76%, an increase of 0.12 percentage points from last week but a decrease of 0.64 percentage points from the same period last year. The average operating load of non - integrated methanol devices is 68.34%, a decrease of 0.40 percentage points from last week [5]. - **Supply - International**: From November 15 - 21, 2025, the international (excluding China) methanol output is 1,068,585 tons, and the device capacity utilization rate is 73.25%, unchanged from last week [5]. - **Supply - Import**: From November 13 - 19, 2025, the sample arrival volume of Chinese methanol is 30.94 tons, including 28.87 tons from overseas vessels and 2.07 tons from domestic vessels [5]. - **Demand - MTO**: As of November 20, 2025, the weekly average capacity utilization rate of MTO devices in the Jiangsu - Zhejiang region is 85.31%, an increase of 1.668 percentage points from last week. The national olefin device operating rate is 90.36%, with a slight increase in the weekly average operating rate [5]. - **Demand - Traditional**: The capacity utilization rate of dimethyl ether is 5.69%, a 6.75% increase from the previous period. The capacity utilization rate of acetic acid is 69.59%. The formaldehyde operating rate is 42.01%, with an increase in overall capacity utilization rate [5]. - **Demand - Direct Sales**: The weekly signing volume of methanol sample production enterprises in the northwest region is 8.69 tons, a decrease of 0.19 tons from the previous statistical date, a 2.14% decrease [5]. - **Inventory - Enterprise**: The production enterprise inventory is 35.87 tons, a decrease of 1.06 tons from the previous period. The order backlog of sample enterprises is 24.63 tons, an increase of 0.09 tons from the previous period, a 0.37% increase [5]. - **Inventory - Port**: As of November 19, 2025, the total port inventory is 147.93 tons, a decrease of 6.43 tons from the previous period. The inventory in East China decreased by 3.86 tons, and in South China by 2.57 tons [5]. - **Valuation**: The chemical coal in the northwest region is firm, and the methanol price is stable. The profit of coal - to - methanol in Inner Mongolia is around 390 yuan/ton, and in northern Shaanxi is 322 yuan/ton. The MTO loss is narrowing, and the basis is stable [5]. 8. Spot Price - The price of Taicang is 1990 yuan/ton (- 50 yuan), and the price of the northern line is 1960 yuan/ton (- 20 yuan) [8]

Group 1: Report Information - The report is an energy and chemical R & D report on urea, dated November 21, 2025 [2] Group 2: Market Review - Futures market: Urea futures fluctuated and declined, closing at 1654 (-0.7/-0.42%) [3] - Spot market: Factory prices increased slightly, with trading volume being average. Factory prices in different regions were as follows: Henan 1580 - 1600 yuan/ton, Shandong small - sized 1610 - 1620 yuan/ton, Hebei small - sized 1620 - 1630 yuan/ton, Shanxi medium and small - sized 1560 - 1570 yuan/ton, Anhui small - sized 1600 - 1610 yuan/ton, and Inner Mongolia 1460 - 1500 yuan/ton [3] Group 3: Important Information - On November 21, the daily production of the urea industry was 20.15 tons, 0.1 tons less than the previous working day and 1.34 tons more than the same period last year. The operating rate was 83.33%, 0.1% higher than 83.23% in the same period last year [4] Group 4: Logic Analysis - Short - term: Domestic demand is limited, with agricultural demand ending and compound fertilizer not starting on a large scale. The spot market sentiment is still low. The price difference between domestic and international markets is large, and the new quota issuance increases the impact of the international market on the domestic market. The mainstream delivery area factory price is around 1580 - 1600 yuan/ton, and downstream acceptance has decreased. Some compound fertilizer plants are restocking at low prices, and storage enterprises are purchasing. The urea market is expected to fluctuate strongly in the short term [5] - Medium - term: The impact of the fourth batch of export quotas will fade, domestic autumn fertilizer production will end completely, and overall demand will be weak. As the factory price rises, downstream acceptance will decrease. Recently, commodities have collectively corrected, and the urea fundamentals are still loose. In the medium term, the urea market is expected to be weak [5] Group 5: Trading Strategy - Unilateral: Short from high levels, do not chase short positions [6] - Arbitrage: Wait and see [6]

钢材：五大材持续增产，钢价区间震荡 研究员：戚纯怡 期货从业证号：F03113636 投资咨询证号：Z0018817 目录 | 第一章 | 钢材行情总结与展望 | 2 | | --- | --- | --- | | 第二章 | 价格及利润回顾 | 5 | | 第三章 | 国内外重要宏观数据 | 12 | | 第四章 | 钢材供需以及库存情况 | 19 | GALAXY FUTURES 1 钢材总结 数据总结： GALAXY FUTURES 2 供给：本周螺纹小样本产量207.96万吨（+7.96），热卷小样本产量316.01万吨（+2.35）。247家钢厂高炉铁水日 均236.28万吨（-0.6），富宝49家独立电弧炉钢厂产能利用率33.4%（+0.5）。电炉端，华东平电电炉成本在3436 （折盘面）元/吨左右，电炉平电利润-230.07元/吨左右，谷电成本3271（折理记）元左右，华东三线螺纹谷电利润- 65元/吨。近期电炉成本基本持平，但钢材价格小幅上涨，导致电炉利润有所回升，电炉产能利用率有所增长，废钢日 耗在50.78万吨，环比略降；长流程钢利润仍然亏损但继续修复，铁水产量本周小幅下滑，后续仍有下降空 ...

Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report - The peanut market is experiencing a situation where the purchase price of oil mills has been lowered, and the peanut futures price has risen and then fallen. The trading volume of peanuts has increased, with prices in different regions showing mixed trends. The import volume has significantly decreased, while the oil mill operating rate has slightly increased. The downstream consumption remains weak, and the inventory of oil mills has increased. The report recommends strategies such as selling the pk601 - P - 7600 option, short - selling 01 peanuts on rallies, and conducting reverse arbitrage on the 1 - 5 spread on rallies [5][6]. Summary According to Relevant Catalogs Chapter 1: Comprehensive Analysis and Trading Strategies - **Option Strategy**: Consider selling the pk601 - P - 7600 option strategy [5]. - **Trading Logic**: The trading volume of peanuts has increased. The price of Henan common peanuts has risen, Shandong's has fallen, and Northeast China's has continued to rise. Imported peanut prices are stable, but the import volume has decreased significantly. The oil mill operating rate has slightly increased. Peanut meal prices are stable, peanut oil prices are weak, and the oil mill's crushing profit has increased. Downstream consumption is still weak, and the oil mill's peanut and peanut oil inventories have increased [6]. - **Strategies**: Peanuts are in a bottom - oscillating pattern. Short - sell 01 peanuts on rallies and conduct reverse arbitrage on the 1 - 5 spread on rallies [6]. Chapter 2: Core Logic Analysis 1. Peanut Price - **Domestic Peanuts**: The price of peanuts in Henan and Northeast China has risen. In Shandong, the price of large peanuts in Junan has decreased by 0.1 yuan/jin to 3.5 yuan/jin. In Henan, the price of new - season peanuts in Zhengyang has increased by 0.05 yuan/jin to 3.65 yuan/jin. In Liaoning and Jilin, the price of Baisha peanuts has increased by 0.05 yuan/jin to 4.55 yuan/jin [11]. - **Oil Mill Oil Peanuts**: The purchase price of oil mills has decreased, with most mills still not purchasing. The general purchase price is between 7150 - 7400 yuan/ton, a decrease of 100 yuan/ton from last week [11]. - **Imported Peanuts**: The price of imported peanuts is stable. Sudan new rice is 8600 yuan/ton, Senegalese oil peanuts are 7600 yuan/ton, and Indian 50/60 peanuts are reported at 8000 yuan/ton [11]. 2. Domestic Demand - **Oil Mill Operating Rate**: As of November 20, the operating rate of peanut oil mills this week is 16.61%, a 0.4% increase from last week [15]. - **Oil Mill Inventory**: This week, the arrival volume at oil mills is 31,400 tons, an increase of 6200 tons from last week. The peanut inventory at oil mills is 54,200 tons, an increase of 7000 tons from last week. The peanut oil inventory is 40,500 tons, the same as last week [15]. 3. Crushing Profit - **Crushing Profit**: The purchase price of peanut oil mills has decreased, peanut meal prices are stable, and peanut oil prices are weak. As a result, the oil mill's crushing profit is 320 yuan/ton, an increase of 62 yuan/ton from last week [19]. - **Peanut Oil Price**: The average price of first - class peanut oil is 14,500 yuan/ton, stable compared to last week. The price of small - pressed concentrated sesame oil is 16,300 yuan/ton, also stable [19]. - **Peanut Meal**: Due to the strong spot price of soybean meal, the price difference between peanut meal and soybean meal is low. The price of peanut meal is stable at 3210 yuan/ton this week, the same as last week [19]. 4. Basis and Spread - **Spread**: This week, due to the rise and then fall of 01 peanuts, the 1 - 4 spread is strong and stable at around - 40 yuan [26]. - **Spot - Futures Price Difference**: It has declined [26]. 5. Peanut Import - **Peanut Kernel Import**: In October, the import of peanut kernels was 35,000 tons. From January to October, the cumulative import was 198,000 tons, a 69% decrease compared to the same period last year [30]. - **Peanut Kernel Export**: In October, the export of peanut kernels was 14,000 tons. From January to October, the cumulative export was 129,000 tons, a 19% increase compared to the same period last year [30]. - **Peanut Oil Import**: In October, the import of peanut oil was 43,000 tons. From January to October, the cumulative import of peanut oil was 334,000 tons, a 53% increase compared to last year [30]. Chapter 3: Weekly Data Tracking - Multiple data charts are provided, including the price of peanuts in different regions, the basis and spread of peanuts, import and export data of peanuts and peanut oil, the operating rate of oil mills, inventory data, and the price difference between peanut products and other oilseeds [10][23][29]. However, specific data values have been summarized in the above - mentioned core logic analysis part.

玉米现货偏强 盘面高位震荡 银河农产品 研究员：刘大勇 期货从业证号：F03107370 投资咨询证号：Z0018389 目录 | 第一章 | 综合分析与交易策略 | 2 | | --- | --- | --- | | 第二章 | 核心逻辑分析 | 4 | | 第三章 | 周度数据追踪 | 11 | GALAXY FUTURES 1 227/82/4 228/210/172 181/181/181 87/87/87 基 础 色 辅 助 色 137/137/137 246/206/207 68/84/105 210/10/16 221/221/221 208/218/234 综合分析与交易策略 文 字 色 3.期权：可以逢高01玉米累沽策略(以上观点仅供参考，不作为入市依据) 2 GALAXY FUTURES 227/82/4 228/210/172 181/181/181 【交易策略】 美玉米丰产，但后期可能继续下调美玉米单产，短期美玉米12合约420美分/蒲支撑较强。目前东北玉米陆续上量，华北玉米上量较少，玉米现货上涨空间有 限。短期玉米可能存在回调，预计01和05玉米反弹空间有限，01玉米反弹较多，1-5 ...

Report Industry Investment Rating - Not provided in the given content Core Viewpoints - The fundamentals of the ferroalloy market continue to show a pattern of both supply and demand decline, with support from the cost side. The market is expected to oscillate at the bottom this week due to the drag of macro - sentiment, but the low valuation of the alloy itself and the production - cut trend on the supply side make the profit - loss ratio of short - selling unfavorable [5][6] Summary by Relevant Catalogs Comprehensive Analysis and Trading Strategies Comprehensive Analysis - **Fundamentals**: On the supply side, the production of ferrosilicon and silicomanganese sample enterprises has both decreased, and a production - cut trend has initially formed as prices reach low levels and enterprise losses increase. On the demand side, steel production and apparent demand have both increased this week, but steel profits remain low, and future pig iron production is expected to oscillate downward, with a weakening expectation for raw material demand. On the cost side, ferroalloy electricity prices in production areas are generally firm, port manganese ore inventories are at a low level compared to the same period, and spot manganese ore prices are stable with a slight upward trend [5] - **Macro - aspects**: Recently, the sentiment in the risk - asset market has been generally weak. Hawkish remarks from the Fed's Cook led to a sharp decline in US stocks, driving an overall adjustment in the global equity market. In the domestic commodity market, coking coal has led the overall ferrous metals to operate weakly, which also impacts the sentiment in the ferroalloy market. However, due to the low valuation of the alloy itself and the emerging production - cut trend on the supply side, the profit - loss ratio of short - selling is not high, so the market is expected to continue to oscillate at the bottom this week [5] Strategies - **Unilateral**: Affected by macro - sentiment, but with a low valuation of the alloy itself and a production - cut trend on the supply side, the market is expected to oscillate at the bottom this week [6] - **Arbitrage**: Wait and see [6] - **Options**: Sell out - of - the - money straddle combinations on rallies [6] Weekly Data Tracking Supply and Demand Data Tracking - **Demand**: According to Mysteel data, the average daily pig iron output of 247 sample steel mills is 2.3628 million tons, a week - on - week decrease of 0.6 million tons. The weekly demand for ferrosilicon in five major steel grades (the sample accounts for about 70% of the total demand for ferrosilicon in five major steel grades) is 19,500 tons, a week - on - week increase of 500 tons; the weekly demand for silicomanganese in five major steel grades (70%) is 121,400 tons, a week - on - week increase of 2,800 tons [11] - **Supply**: The operating rate of 136 independent ferrosilicon enterprises in the country is 33.81%, a week - on - week decrease of 1.03%; the national ferrosilicon production (weekly supply) is 108,300 tons, a week - on - week decrease of 800 tons. The operating rate of 187 independent silicomanganese enterprises in the country is 39.13%, a week - on - week decrease of 0.46%; the national silicomanganese production (99% of weekly supply) is 196,900 tons, a week - on - week decrease of 2,700 tons [12] - **Inventory**: In the week of November 21, the inventory of 60 independent ferrosilicon enterprises in the country is 73,100 tons, a week - on - week decrease of 8,300 tons; the inventory of 63 independent silicomanganese enterprises in the country (accounting for 79.77% of the national production capacity) is 363,000 tons, a week - on - week increase of 10,500 tons [13] Cost - Profit Analysis - **Silicomanganese**: The production costs in Inner Mongolia, Ningxia, Guangxi, and Guizhou are 5,778 yuan/ton, 5,877 yuan/ton, 6,376 yuan/ton, and 6,195 yuan/ton respectively, with corresponding losses of 178 yuan/ton, 397 yuan/ton, 806 yuan/ton, and 645 yuan/ton. The production costs in the north and south are 5,809 yuan/ton and 6,268 yuan/ton respectively, with losses of 302 yuan/ton and 713 yuan/ton [32] - **Ferrosilicon**: The production costs in Inner Mongolia, Ningxia, Shaanxi, Qinghai, and Gansu are 5,441 yuan/ton, 5,622 yuan/ton, 5,726 yuan/ton, 5,780 yuan/ton, and 5,828 yuan/ton respectively, with corresponding losses of 241 yuan/ton, 472 yuan/ton, 596 yuan/ton, 580 yuan/ton, and 628 yuan/ton [42]

目录 第一部分逻辑分析及交易策略 第二部分周度数据追踪 GALAXYFUTURES 鸡蛋周报：蛋价稳中有落 淘汰有所增加 银河大宗农产品 研究员：刘倩楠 期货从业证号：F3013727 咨询从业证号：Z0014425 1 227/82/4 228/210/172 181/181/181 87/87/87 文 字 色 基 础 色 辅 助 色 137/137/137 246/206/207 68/84/105 210/10/16 221/221/221 208/218/234 第一部分逻辑分析及交易策略 内容摘要 2 GALAXYFUTURES 227/82/4 228/210/172 181/181/181 87/87/87 文 字 色 基 础 色 辅 助 色 137/137/137 246/206/207 68/84/105 210/10/16 221/221/221 208/218/234 ◼ 现货分析 ◼ 供给分析 ◼ 成本分析 ◼ 需求分析 ◼ 交易策略 鸡蛋现货分析 本周鸡蛋主产区均价2.8元/斤，较上周五下跌0.12元/斤，主销区均价3.13元/斤，较上周五下跌0.08元/斤。本周主产区价格持续下 ...