、误导或造成资料传输或储存上的错误、或遭第三人侵入系统篡改或伪造变造资料等，我司均不承担任何责任。 最新 日变化 周变化 月变化 年变化 最新 日变化 周变化 月变化 年变化 秦皇岛5500 815.0 5.0 46.0 104.0 -40.0 25省终端可用天数 25.6 -0.5 5.6 4.7 8.0 秦皇岛5000 723.0 5.0 46.0 103.0 -32.0 25省终端供煤 514.7 1.3 -93.8 -125.3 -108.1 广州港5500 855.0 15.0 50.0 90.0 -55.0 北方港库存 2205.0 16.0 36.0 -168.0 -258.0 鄂尔多斯5500 585.0 10.0 45.0 100.0 -45.0 北方锚地船舶 110.0 16.0 37.0 22.0 74.0 大同5500 635.0 10.0 45.0 95.0 -75.0 北方港调入量 174.8 7.5 2.8 36.7 21.9 榆林6000 712.0 0.0 30.0 70.0 -108.0 北方港吞吐量 176.0 6.5 10.0 55.8 9.2 榆林6200 740.0 ...

波动率数据日报 永安期货期权总部 更新时间: 2025/11/7 、隐含波动率指数、历史波动率及其价差走势图 0. 90 494 0.67 300 级 指 orea 45 0.64 PTA 0.54 PTA 0 55 五米 0.58 300股指 0.32 50ETE 0.51 50ETF 0.30 天峻 0.41 五米 0.18 上指 0.35 天峻 0.17 PVC 038 7 14 0.12 日時 0.27 8.4 6 0.10 45 PVC 0.30 0.02 铁右右 0.21 炸花 0.00 白练 神花 0.18 0 03 0.6 0.7 0.9 0.1 0.2 0.4 05 0.8 1 0.6 0.7 0.8 0 01 0.2 0.3 0.4 0.5 0 a 1 免费声明:本文所有内得均不符成改造仪、对文中信息的准确推料免费性不作任何保证，使用学习交流。技资录像此作出的任何投资决策与产企司无关、授权仪为我 公司所有、未来书面许可。任何扎格和个人不得以世同形式相談、提到发布。如引用、代度、规控班出处为水安和货公司、且不得进行存择原置的引用、量市和谐政。 0.82 1、金融期权隐含波动率指数反映截止上一 ...

Report Industry Investment Rating - Not provided in the content Core Viewpoints - Driven by positive factors such as long - term contract signing from November to December, but the valuation is not low. The market will follow the spot market, and it is recommended to adopt a dip - buying strategy overall [3] - The 12 - contract has multiple price increase announcements in the future [3] - The valuation of the 02 - contract is difficult to determine, with high uncertainty. It is expected to follow the 12 - contract in the next month, and a dip - buying strategy is also recommended [3] - The 04 - contract is a off - season contract. It maintains a narrow - range oscillation in the current peak - season logic. Given greater supply pressure next year, the off - season in April, and potential resumption of navigation, a short - selling strategy on rallies is recommended [3] Summary by Related Content Futures Market - EC2512 closed at 1848.2 yesterday, down 5.03%, with a trading volume of 35,518 and an open interest of 28,412, a decrease of 5,660 [2] - EC2602 closed at 1601.0, down 3.09%; EC2604 closed at 1178.0, down 1.80%; EC2606 closed at 1414.2, down 0.83%; EC2608 closed at 1484.0, down 0.88%; EC2610 closed at 1140.0, down 0.25% [2] - For the month - spread, EC2512 - 2504 was 670.2, a day - on - day decrease of 76.2 and a week - on - week decrease of 6.4; EC2512 - 2602 was 247.2, a day - on - day decrease of 46.8 and a week - on - week decrease of 17.8; EC2502 - 2604 was 423.0, a day - on - day decrease of 29.4 and a week - on - week increase of 11.4 [2] Spot Market (European Line) - As of November 3, 2025, the SCEIS was 1208.71 points, down 7.92% from the previous period [2] - As of October 31, 2025, the SCFI was 1344 dollars/TEU, up 7.87% from the previous period; the CCFI was 1323.81 points, up 2.37% from the previous period; the NCFI was 965.62 points, up 17.43% from the previous period [2] Recent European Line Quotations - Downstream is booking space for early November (week 45 - 46). The cargo - booking for week 45 is completed, and each shipping company can fill up; the situation in week 46 in the PA route has slightly improved [3] - In the first half of November, the PA route had the largest price cut, to 1700 - 1900 dollars, GEMINI dropped to 2100 - 2200 dollars, and OA dropped to 2250 dollars, with an average of about 2050 dollars (equivalent to 1430 points on the disk) [3] - In the second half of November, shipping companies mostly announced price increases to 2500 - 3100 dollars. MSK quoted 2250 dollars [3] - On Tuesday, MSC and HPL announced price increases for the second half of November to 3000 and 3100 dollars/FEU respectively [3] - On Wednesday, MSK opened the booking for the second half of November at 2250 (+50) dollars/FEU, lower than the previous market rumor/expectation of 2400 - 2500 dollars; MSK announced a price increase for December, with the European line rising to 3200 dollars; MSC dropped to 2365 dollars [3] - On Thursday, ONE opened the booking at 2600 dollars, and YML at 2550 dollars [4] Related News - On November 5, the Israeli Defense Minister said that the Israeli army would unrestrictedly destroy Hamas tunnels and armed personnel in the Gaza - controlled area [5] - On November 6, the Israeli army said it carried out an air strike in southern Lebanon, killing a Hezbollah member [5]

Report Industry Investment Rating - No relevant content found. Core Viewpoints of the Report - The 12 - contract has multiple price increase announcements in the follow - up, driven by positive factors such as long - term agreement signing from November to December, but the valuation is not low. It is recommended to adopt a "buy on dips" strategy, following the spot market [3][16]. - The valuation of the 02 - contract is difficult to determine with high uncertainty. It is expected to mainly follow the 12 - contract in the next month, and also adopt a "buy on dips" strategy [3][16]. - The 04 - contract is a off - season contract. It maintains a wide - range oscillation in the current peak - season logic. Considering greater supply pressure next year, the off - season in April, and potential resumption of flights, a "short - selling on highs" strategy is recommended [3][16]. Summary by Related Catalogs Futures Contract Information - **Closing Prices and Changes**: EC2512 closed at 1848.2 with a - 5.03% change; EC2602 at 1601.0 with - 3.09% and - 1.80% changes; EC2604 at 1178.0; EC2606 at 1414.2 with a - 0.83% change; EC2608 at 1484.0 with a - 0.88% change; EC2610 at 1140.0 with a - 0.25% change [2][15]. - **Volume and Open Interest**: EC2512 had a volume of 35518 and an open interest of 28412 with a change of - 5560; EC2602 had a volume of 9591 and an open interest of 22625 with a change of 273 - 3749; EC2604 had a volume of 2051 and an open interest of 14208; EC2606 had a volume of 132 and an open interest of 1455 with a change of - 9; EC2608 had a volume of 120 and an open interest of 1306 with a change of - 31; EC2610 had a volume of 269 and an open interest of 1432 with a change of 156 [2][15]. - **Monthly Spreads**: EC2512 - 2504 spread was 670.2 with a day - on - day change of - 76.2 and a week - on - week change of - 6.4; EC2512 - 2602 spread was 247.2 with a day - on - day change of - 46.8 and a week - on - week change of - 17.8; EC2502 - 2604 spread was 423.0 with a day - on - day change of - 29.4 and a week - on - week change of 11.4 [2][15]. Index Information - **SCFI (European Line)**: Updated weekly on Mondays and the ninth day of the week. On 2025/11/3, it was 1208.71 points with a - 7.92% change from the previous period; on 2025/10/31, it was 1344 dollars/TEU with a 7.87% change [2][15]. - **CCFI**: Updated weekly on the ninth day of the week. On 2025/10/31, it was 1323.81 points with a 2.37% change [2][15]. - **NCFI**: Updated weekly on the ninth day of the week. On 2025/10/31, it was 965.62 points with a 17.43% change [2][15]. Recent European Line Quotation - Downstream is booking cabins for early November (week 45 - 46). In week 46, PA slightly improved, and shipping companies could fill all cabins, but the capacity was very low. After week 45's cargo - booking ended, the pressure increased in the second half of November. The average price was about 2050 dollars (equivalent to 1430 points on the futures). In the first half of November, PA had the largest price cut. Shipping companies mostly announced price increases to 2500 - 3100 dollars in the second half of November, and MSK quoted 2250 dollars [4][17]. Shipping Company Price Announcements - On Monday, the freight rate remained unchanged. MSC and HPL announced price increases for the second half of November to 3000 and 3100 dollars/FEU respectively. MSK's opening price for the second half of November was 2250 (+50) dollars/FEU, lower than the previous market expectation of 2400 - 2500 dollars. MSK also announced a price increase to 3200 dollars for December on the European line, while MSC's price dropped to 2365 dollars [5][18]. - On Thursday, ONE opened at 2600 dollars, and YML opened at 2550 dollars [6][19].

Group 1: Report Overview - The report is an early morning report on crude oil and refined oil, released by the Energy and Chemicals Team of the Research Center on November 7, 2025 [2] Group 2: Daily News - India's Reliance Industries, the largest private refiner, is seeking to sell some Middle - Eastern oil cargoes to domestic and international buyers, which is unusual as it's usually a major buyer. It's trying to sell oil grades like Murban and Upper Zakum on the spot market. After US sanctions on Russia, it bought millions of barrels of crude from the Middle East last month [3] - Kazakhstan's crude oil production in October decreased by 10% month - on - month to 169 million barrels per day [3] - Russia's Tuapse refinery stopped fuel exports after a drone attack on November 2 [3] - Global commodity trader Mercuria said that a supply glut is slowly forming and may hit the market in the next few months [3] Group 3: Inventory US Inventory - In the week ending October 31, US crude oil exports increased by 0.6 million barrels per day to 436.7 million barrels per day, domestic crude oil production increased by 0.7 million barrels to 1365.1 million barrels per day, commercial crude oil inventory (excluding strategic reserves) increased by 5.202 million barrels to 421 million barrels (a 1.25% increase), and strategic petroleum reserve (SPR) inventory increased by 498,000 barrels to 409.6 million barrels (a 0.12% increase). The average four - week supply of US crude oil products was 2034.4 million barrels per day, a 1.15% decrease from the same period last year. US crude oil imports (excluding strategic reserves) were 592.4 million barrels per day, an increase of 87.3 million barrels per day from the previous week [4] - US EIA crude oil inventory in Cushing, Oklahoma in the week ending October 31 was 30,000 barrels, compared with 133,400 barrels in the previous week [4] - US EIA gasoline inventory in the week ending October 31 was - 4.729 million barrels (expected - 1.14 million barrels, previous value - 5.941 million barrels), and refined oil inventory was - 643,000 barrels (expected - 1.969 million barrels, previous value - 3.362 million barrels) [5] UAE Inventory - As of the week ending November 5, the total refined oil inventory in Fujairah, UAE increased by 851,000 barrels to 18.607 million barrels. Light distillate inventory decreased by 1.236 million barrels to 6.713 million barrels, medium distillate inventory decreased by 79,000 barrels to 3.234 million barrels, and heavy residual fuel oil inventory increased by 2.166 million barrels to 8.66 million barrels [5] Domestic Inventory - From October 23 - 30, domestic major refinery operations decreased, independent refinery operations increased slightly, gasoline and diesel inventories accumulated, independent refinery gasoline inventory increased while diesel inventory decreased, and the profits of major and independent refineries both decreased [5] Group 4: Weekly Viewpoint - This week, crude oil prices fluctuated. On Friday, US media reported that the US was about to launch a military attack on Venezuela, causing oil prices to rise. On Sunday, OPEC + members confirmed an increase of 137,000 barrels per day in December. According to data provided by Vortexa and organized by institutions, Russia's average daily seaborne oil product exports in the first 26 days of October were 1.89 million barrels, and Kpler's preliminary data showed that Russia's average daily seaborne crude oil exports in October were 5.198 million barrels per day, a month - on - month decrease of 460,000 barrels per day and a year - on - year increase of 321,000 barrels per day [6] - Fundamentally, global on - land oil inventories slightly increased this week, while floating storage inventories slightly decreased. Affected by a significant decline in net crude oil imports, US commercial crude oil inventories decreased by 6.858 million barrels, and gasoline and diesel inventories decreased. Refining profits in Europe and the US rebounded this week [6] - Short - term geopolitical risks have resurfaced, but the pressure on crude oil supply release is high. Brazil's P78 has been put into production, OPEC has further increased production, and the US total production remains at a high level. Crude oil will maintain a weak pattern [6] Group 5: Price Data - The report provides price data for WTI, BRENT, DUBAI, SC, OMAN, and other oil products from October 31 to November 6, 2025, as well as price differences and changes [3]

1. Report Industry Investment Rating - No relevant information provided 2. Core Viewpoints - No relevant information provided 3. Summary by Related Catalogs Price and Profit - The report presents the spot prices of various types of steel products from October 31, 2025, to November 6, 2025, including Beijing, Shanghai, Chengdu, Xi'an, Guangzhou, and Wuhan's rebar, and Tianjin, Shanghai, and Lecong's hot - rolled and cold - rolled coils. For rebar, prices in different regions showed different degrees of change, with Beijing up 60, Shanghai up 30, and Xi'an up 70, while prices of hot - rolled and cold - rolled coils remained unchanged during the period from November 5 to 6, 2025 [1]. Basis and Spread - No relevant information provided Production and Inventory - No relevant information provided

Group 1: Report Investment Ratings - No investment ratings provided in the report Group 2: Core Views - Copper: After Sino-US negotiations, the copper price dropped to test the 10-day moving average support. The downstream copper开工 rate declined further, but the inventory decreased slightly. Considering the potential medium - scale delivery of LME copper in the near future, maintain a callback - buying strategy and pay attention to the support around $10,300 for LME copper [1] - Aluminum: With good domestic apparent demand, high proportion of molten aluminum, de - stocking of aluminum ingots and various aluminum products, and supply disruptions overseas, the price is pushed up. In the long - term with low inventory, it is advisable to hold on dips [1] - Zinc: The zinc price fluctuated upward this week. The supply of domestic and imported TC is accelerating its decline. The demand is seasonally weak domestically and generally average overseas. Although the domestic fundamentals are poor, there may be a phased reduction in supply at the end of the year, so the price may not fall deeply. Pay attention to anti - arbitrage opportunities and positive arbitrage opportunities for the 12 - 02 spread [2] - Nickel: The supply of pure nickel remains at a high level, the demand is weak, and the inventory is accumulating both at home and abroad. With continuous disturbances in the Indonesian mining end and a motivation to support prices on the policy side, pay attention to short - selling opportunities [3] - Stainless Steel: The supply from steel mills increased slightly in October. The demand is mainly for rigid needs. The cost of ferronickel and ferrochrome remains stable, and the inventory is at a high level. With a motivation to support prices on the Indonesian policy side, pay attention to short - selling opportunities [7] - Lead: The lead price dropped due to downstream production cuts this week. The supply of scrap is weak, and the recovery of recycled lead production is slow. The demand is expected to weaken. It is expected that the lead price will fluctuate narrowly next week, and it is advisable to observe the resumption of recycled production and the increase of warehouse receipts [8] - Tin: The tin price fluctuated this week. The supply is marginally recovering, and the demand is mainly rigid. In the short - term, it follows the macro - sentiment. In the long - term, it is advisable to hold on dips near the cost line [8][10] - Industrial Silicon: The supply of industrial silicon will decline in the fourth quarter, but considering the maintenance of polysilicon enterprises, the supply and demand are in a balanced and slightly loose state. In the short - term, the price is expected to fluctuate, and in the long - term, it will fluctuate at the cycle bottom [11] - Lithium Carbonate: Affected by the rumor of mine resumption in Jiangxi, the lithium carbonate price dropped rapidly on Friday. The supply side has strong price - support motivation, and the demand side is mainly in a wait - and - see state. If the energy storage demand remains high and the power demand is stable, the long - term pattern may change in the next 1 - 2 years [11] Group 3: Summary by Metal Copper - Market: The market is dominated by tariff negotiation progress. After Sino - US negotiations, the copper price dropped [1] - Fundamentals: Downstream copper开工 rate declined, but inventory decreased slightly. Pay attention to the impact of stricter scrap copper policies on the substitution of refined copper [1] - Strategy: Maintain a callback - buying strategy, pay attention to the support around $10,300 for LME copper, and consider selling put options below $10,300 or gradually building virtual inventory [1] Aluminum - Market: Domestic apparent demand is good, and overseas supply is disrupted [1] - Fundamentals: High proportion of molten aluminum, de - stocking of aluminum ingots and various aluminum products [1] - Strategy: Hold on dips in the long - term with low inventory [1] Zinc - Market: The zinc price fluctuated upward this week [2] - Fundamentals: Supply of domestic and imported TC is declining. Demand is seasonally weak domestically and average overseas. Social inventory is fluctuating domestically, and LME inventory is decreasing overseas [2] - Strategy: Although the domestic fundamentals are poor, the price may not fall deeply at the end of the year. Pay attention to anti - arbitrage opportunities and positive arbitrage opportunities for the 12 - 02 spread [2] Nickel - Market: Short - term fundamentals are weak [3] - Fundamentals: Supply of pure nickel is high, demand is weak, and inventory is accumulating both at home and abroad [3] - Strategy: Pay attention to short - selling opportunities with disturbances in the Indonesian mining end and policy support motivation [3] Stainless Steel - Market: Fundamentals are weak [7] - Fundamentals: Supply from steel mills increased slightly in October, demand is mainly rigid, cost is stable, and inventory is high [7] - Strategy: Pay attention to short - selling opportunities with policy support motivation in Indonesia [7] Lead - Market: The lead price dropped due to downstream production cuts [8] - Fundamentals: Supply of scrap is weak, recycled lead production recovery is slow, demand is expected to weaken, and the spot is still in short supply [8] - Strategy: Observe the resumption of recycled production and the increase of warehouse receipts, and the price is expected to fluctuate narrowly between 17,200 - 17,500 [8] Tin - Market: The tin price fluctuated this week [8] - Fundamentals: Supply is marginally recovering, and demand is mainly rigid [8][10] - Strategy: Follow the macro - sentiment in the short - term, and hold on dips near the cost line in the long - term [8][10] Industrial Silicon - Market: Supply will decline in the fourth quarter, and supply - demand is balanced and slightly loose [11] - Fundamentals: Xinjiang enterprises' production is stable, and Sichuan and Yunnan's production will decrease in the dry season [11] - Strategy: The price is expected to fluctuate in the short - term and at the cycle bottom in the long - term [11] Lithium Carbonate - Market: The price dropped on Friday due to the rumor of mine resumption [11] - Fundamentals: Supply side has strong price - support motivation, and demand side is in a wait - and - see state [11] - Strategy: The long - term pattern may change in the next 1 - 2 years if demand conditions are met [11]

Group 1: Price Performance - London Gold latest price is 3986.50 with a change of 18.30 [1] - London Silver latest price is 48.69 with a change of 1.08 [1] - London Platinum latest price is 1556.00 with a change of 11.00 [1] - London Palladium latest price is 1417.00 with a change of 12.00 [1] - LME Copper latest price is 10767.00 with a change of 99.00 [1] - US Dollar Index latest is 99.70 with a change of -0.46 [1] - Euro to US Dollar latest is 1.15 with a change of 0.01 [1] - British Pound to US Dollar latest is 1.31 with a change of 0.01 [1] - US Dollar to Japanese Yen latest is 153.06 with a change of -1.06 [1] Group 2: Trading Data - COMEX Silver inventory latest is 14975.33 with a change of 0.31 [1] - SHFE Silver inventory latest is 639.94 with a change of -16.23 [1] - Gold ETF holdings latest is 1040.35 with a change of 1.72 [1] - Silver ETF holdings latest is 15114.03 with a change of -36.68 [1] - SGE Silver deferred fee payment direction change is 1.00 [1] - SGE Gold deferred fee payment direction change is 0.00 [1]

Report Summary 1. Report Industry Investment Rating - No relevant information provided 2. Core View - No clear core view presented in the provided content 3. Summary by Related Catalogs SP Main Contract Closing Price - On November 6, 2025, the SP main contract closing price was 5368.00 [3] - The price fluctuations from October 31 to November 6 were -0.22971%, 1.80353%, -0.33924%, 1.36157%, and 0.14925% respectively [3] - The corresponding discount US dollar prices were 639.69, 650.56, 648.25, 657.08, and 657.08 [3] - The Shandong Yinxing basis was 263, 194, 212, 140, and 132; the Jiangsu, Zhejiang, and Shanghai Yinxing basis was 298, 219, 227, 155, and 157 respectively [3] Pulp Price and Profit - With a 13% VAT calculation, the import profits of Canadian Golden Lion, Canadian Lion, and Chilean Yinxing were -145.57, -533.29, and -41.01 respectively [4] - From October 31 to November 6, 2025, the national average prices of softwood pulp, hardwood pulp, natural pulp, and chemimechanical pulp remained unchanged; the same was true for the Shandong region [4] - During the same period, the prices of cultural paper (double - offset index, double - copper index), packaging paper (white card index), and living paper (living index) remained unchanged [4] - The profit margins of double - offset paper, double - copper paper, white card paper, and living paper changed, with the white card paper profit margin increasing by 1.9313 and the living paper profit margin decreasing by 0.2101 from November 3 to November 6 [4] Pulp Price Spreads - From October 31 to November 6, 2025, the softwood - hardwood spread was 1225, 1250, 1250, 1250, and 1240; the softwood - natural spread was 75, 100, 100, 100, and 100; the softwood - chemimechanical spread was 1675, 1700, 1700, 1700, and 1700; the softwood - waste paper spread was 3899, 3924, 3924, 3924, and 3924 respectively [4]

2025/11/7 | | 最新 | 日变化 | 周变化 | 月变化 | 年变化 | | 最新 | 日变化 | 周变化 | 月变化 年变化 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 柳林主焦 | 1645.00 | 0.00 | 70.00 | 95.00 | 3.46% | Peak Downs | 211.50 | 0.00 | 0.00 | 6.50 | -8.50 | | 原煤口岸库提价 | 1165.00 | 0.00 | -5.00 | 131.00 | 2.19% | Goonyella | 211.50 | 0.00 | 0.00 | 6.50 | -8.50 | | 沙河驿蒙5# | 1550.00 | 0.00 | 80.00 | 100.00 | -6.63% | 盘面05 | 1342.00 | 19.00 | -19.50 | 100.50 | -5.23% | | 安泽主焦 | 1660.00 | 0.00 | 60.00 | 130.00 | 0.61% | 盘面 ...