甲醇聚烯烃早报 研究中心能化团队 2025/12/09 | 日期 | 西北电石 | 山东烧碱 | 电石法-华 | 乙烯法-华 | 电石法-华南 | 电石法-西 | 进口美金价 （CFR中 | 出口利润 | 西北综合利 | 华北综合利 | 基差(高端 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 东 | 东 | | 北 | 国） | | 润 | 润 | 交割品) | | 2025/12/02 | 2500 | 742 | 4560 | - | - | 4180 | 640 | 339 | - | - | -70 | | 2025/12/03 | 2550 | 742 | 4550 | - | - | 4180 | 640 | 177 | - | - | -50 | 甲 醇 日期 动力煤期 货 江苏现货 华南现货 鲁南折盘 面 西南折盘面 河北折盘 面 西北折盘 面 CFR中国 CFR东南 亚 进口利润 主力基差 盘面MTO 利润 2025/12/0 2 801 2125 2100 2435 ...

| | 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 | 1505.00 | 0.00 | 0.00 | -140.00 | 0.60% Peak Downs | 222.00 | 0.00 | 7.00 | 10.50 | 5.00 | | 原煤口岸库提价 | 970.00 | -18.00 | -30.00 | -175.00 | -1.02% Goonyella | 221.00 | 0.00 | 7.00 | 9.50 | 4.00 | | 沙河驿蒙5# | 1420.00 | 0.00 | 0.00 | -130.00 | -7.79% 盘面05 | 1107.00 | -58.00 | -72.00 | -191.50 | -10.80% | | 安泽主焦 | 1500.00 | 0.00 | -80.00 | -160.00 | -3.85% 盘面09 | 1173.00 | - ...

s 加安期货 沥青早报 | | 指标 | 11/6 | 12/2 | 12/4 | 12/5 | 12/8 | 日度变化 | 間 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 基差&月差 | 山东基差(+80)(弘润) | 11 | 114 | 48 | 42 | 51 | g | | | | 华东县差(镇江库) | 181 | 134 | 88 | 92 | 81 | -11 | | | | 华南基差(佛山库) | 181 | 64 | -2 | -18 | | 19 | | | | 12-01 | 9 | -25 | -19 | -26 | -22 | 4 | | | | 12-03 | -23 | -53 | -47 | -51 | -62 | -11 | | | | 01-02 | -11 | -5 | -11 | -11 | -18 | -7 | | | | BU主力合约(01) | 3109 | 2916 | 2952 | 2948 | 2959 | 11 | | | | 成交量 | 295033 | 443345 | 29 ...

4500 5500 6500 7500 8500 9500 01/01 02/01 03/01 04/01 05/01 06/01 07/01 08/01 09/01 10/01 11/01 12/01 72%FeSi：市场价：内蒙古（日） 2021 2022 2023 2024 2025 4000 5000 6000 7000 8000 9000 10000 01/01 02/01 03/01 04/01 05/01 06/01 07/01 08/01 09/01 10/01 11/01 12/01 72%FeSi：市场价：青海 2021 2022 2023 2024 2025 4000 5000 6000 7000 8000 9000 10000 01/01 02/01 03/01 04/01 05/01 06/01 07/01 08/01 09/01 10/01 11/01 12/01 72%FeSi：市场价：宁夏 2021 2022 2023 2024 2025 4500 5500 6500 7500 8500 9500 01/01 02/01 03/01 04/01 05/01 06/01 07/0 ...

Global Asset Market Performance - The latest yields of 10 - year government bonds in major economies are as follows: US 4.165%, UK 4.527%, France 3.582%, Germany 2.861%, Italy 3.561%, Spain 3.332%, Switzerland 0.230%, Greece 3.464%, Japan 1.968%, Brazil 6.220%, China 1.833%, South Korea (not available), Australia 4.705%, New Zealand 4.437% [3] - The latest yields of 2 - year government bonds in major economies are: US 3.576%, UK 3.806%, Germany 2.156%, Japan 1.059%, Italy 2.297%, China (1Y yield) 1.401%, South Korea (not available), Australia 3.971% [3] - The latest exchange rates of the US dollar against major emerging - economy currencies are: Brazil 5.432, Russia (not available), South Africa zar 17.042, Korean won 1469.400, Thai baht 31.850, Malaysian ringgit 4.113. The on - shore RMB is 7.072, the off - shore RMB is 7.072, the RMB central parity is 7.076, and the RMB 12 - month NDF is 6.936 [3] - The latest values of major economies' stock indices are: S&P 500 6846.510, Dow Jones Industrial Index 47739.320, Nasdaq 23545.900, Mexican stock index 63528.000, UK stock index 9645.090, France CAC 8108.430, Germany DAX 24046.010, Spanish stock index 16712.200, Russian stock index (not available), Nikkei 50581.940, Hang Seng Index 25765.360, Shanghai Composite Index 3924.078, Taiwan stock index 28303.780, South Korean stock index 4154.850, Indian stock index 8710.695, Thai stock index 1261.390, Malaysian stock index 1612.780, Australian economy index 8914.962, emerging - economy stock index 1386.620 [3] - The latest values of credit - bond indices are: US investment - grade credit - bond index 3532.090, euro - zone investment - grade credit - bond index 265.008, emerging - economy investment - grade credit - bond index 289.370, US high - yield credit - bond index 2898.070, euro - zone high - yield credit - bond index 409.350, emerging - economy high - yield credit - bond index 1803.856 [3] Stock Index Futures Trading Data - For A - share index performance, the closing prices are: A - shares 3924.08, CSI 300 4621.75, SSE 50 3019.36, ChiNext 3190.27, CSI 500 7172.37. The percentage changes are: A - shares 0.54%, CSI 300 0.81%, SSE 50 0.58%, ChiNext 2.60%, CSI 500 1.05% [4] - In terms of valuation, the PE(TTM) values are: CSI 300 14.08, SSE 50 11.89, CSI 500 32.67, S&P 500 27.21, Germany DAX 18.63. The环比 changes are: CSI 300 0.06, SSE 50 0.03, CSI 500 0.32, S&P 500 - 0.12, Germany DAX 0.02 [4] - Regarding risk premium, 1/PE - 10 - year interest rate values are: S&P 500 - 0.49, Germany DAX 2.51. The环比 changes are: S&P 500 - 0.01, Germany DAX - 0.07 [4] - For fund flows, the latest values are: A - shares - 31.13, main board - 259.96, small - and - medium - sized enterprise board (not available), ChiNext 139.88, CSI 300 33.95. The 5 - day average values are: A - shares - 360.23, main board - 326.76, small - and - medium - sized enterprise board (not available), ChiNext - 38.69, CSI 300 - 4.65 [4] - The latest trading volumes are: Shanghai and Shenzhen stock markets 20366.46, CSI 300 4967.16, SSE 50 1252.39, small - and - medium - sized board 3786.43, ChiNext 5818.21. The环比 changes are: Shanghai and Shenzhen stock markets 3108.75, CSI 300 845.69, SSE 50 147.92, small - and - medium - sized board 516.77, ChiNext 1100.81 [5] - The主力升贴水 data shows: IF basis - 8.55, amplitude - 0.19%; IH basis - 4.36, amplitude - 0.14%; IC basis - 28.37, amplitude - 0.40% [5] Treasury Bond Futures Trading Data - The closing prices of treasury bond futures are: T2303 108.11, TF2303 105.73, T2306 107.91, TF2306 105.75. The percentage changes are: T2303 0.05%, TF2303 0.01%, T2306 0.04%, TF2306 - 0.01% [5] - The money market shows: R001 1.3718%, R007 1.4940%, SHIBOR - 3M 1.5800%. The daily changes (BP) are: R001 - 13.00, R007 - 1.00, SHIBOR - 3M 0.00 [5]

1. Report Industry Investment Rating - No relevant information provided 2. Core Viewpoints of the Report - No clear core viewpoints are presented in the provided content 3. Summary by Related Categories 3.1 Spot Market - **Australian Mainstream Iron Ore**: Newman powder is priced at 780, down 4 daily and 14 weekly; PB powder at 783, down 4 daily and 14 weekly; Mac powder at 773, down 2 daily and 14 weekly; Jinbuba at 736, down 4 daily and 14 weekly; mainstream mixed powder at 727, down 5 daily and 11 weekly; super special powder at 668, down 7 daily and 22 weekly; Roy Hill powder at 770, down 4 daily and 14 weekly; KUMBA powder at 842, down 4 daily and 14 weekly [1] - **Brazilian Mainstream Iron Ore**: Brazilian mixed ore at 814, down 6 daily and 14 weekly; Brazilian coarse IOC6 at 753, down 4 daily and 21 weekly; Brazilian coarse SSFG at 758, down 4 daily and 21 weekly [1] - **Other Iron Ore**: Ukrainian concentrate powder at 865, down 10 daily and 20 weekly; 61% Indian powder at 725, down 4 daily and 14 weekly; Karara concentrate powder at 865, down 10 daily and 20 weekly; 57% Indian powder at 603, down 7 daily and 22 weekly; Atlas powder at 722, down 5 daily and 11 weekly; domestic Tangshan iron concentrate powder at 996, down 6 daily and 17 weekly [1] 3.2 Futures Market - **Dalian Commodity Exchange Contracts**: i2601 is at 778.5, down 7.0 daily and 22.5 weekly, with an inter - monthly spread of - 41.5; i2605 at 760.5, down 8.5 daily and 17.0 weekly, with an inter - monthly spread of 18.0; i2609 at 737.0, down 7.0 daily and 15.5 weekly, with an inter - monthly spread of 23.5 [1] - **Singapore Exchange Contracts**: FE01 is at 103.39, down 0.87 daily and up 1.19 weekly, with an inter - monthly spread of - 4.89; FE05 at 100.73, down 0.81 daily and up 1.17 weekly, with an inter - monthly spread of 2.66; FE09 at 98.50, down 0.74 daily and up 1.10 weekly, with an inter - monthly spread of 2.23 [1] 3.3 Other Information - **Platts 62 Index**: The latest value is 107.10, down 0.90 daily and up 1.10 weekly [1] - **Import Profits**: Newman powder's import profit is - 11.41; PB powder is - 18.73; Mac powder is 11.79; Jinbuba is 13.16; mainstream mixed powder is - 1.78; super special powder is - 19.95; Brazilian mixed ore is - 13.87; Roy Hill powder is 13.52 [1]

芳烃橡胶早报 研究中心能化团队 2025/12/09 M E G 日期 东北亚乙烯 MEG外盘 价格 MEG内盘 价格 MEG华东 价格 MEG远月 价格 MEG煤制 利润 MEG内盘现金 流（乙烯） MEG总负 荷 煤制MEG 负荷 MEG港口 库存 非煤制负荷 2025/12/02 740 462 3882 3882 3913 -489 -735 72.8 72.6 81.9 73 2025/12/03 740 454 3840 3840 3875 -531 -775 72.8 72.6 81.9 73 2025/12/04 740 452 3822 3822 3862 -549 -792 72.8 72.6 81.9 73 2025/12/05 745 445 3759 3759 3812 -532 -880 72.8 72.6 81.9 73 2025/12/08 745 440 3699 3699 3742 -592 -941 72.8 72.6 81.9 73 变化 0 -5 -60 -60 -70.00 -60.00 -61 0 0 0 0 MEG现货成交 基差对01（-15）附近。 MEG装置 ...

消息面 Week50: MSK开舱下跌至2200美金定调，其余船司陆续跟跌，OA2300-2400，PA1900-2100。目前中枢2200美金，折盘1550点, ，COSCO线下2400美金（+200美金）。 Week51: MSK开舱2400 (+200美金) MSK发布1月份涨价函，欧线20/40英尺集装箱运费分别提涨至2275/3500美金。 state w | | | | | A BILL A BELLER | 11 11 11 14 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | 研究中心能化团队 | | | 2025/12/9 | | | 合约 EC2512 | | 昨日收盘价 1669.8 | 涨跌 0.68% | 基差 -160.7 | 昨日成交量 330 | | 昨日持仓量 3304 | 持合变动 -106 | | | EC2602 | | 1615.3 | 0.34% | -106.2 | 19294 | | 31466 | -749 | | | EC2604 | ...

1,000 1,200 1,400 1,600 1,800 2,000 2,200 河北鑫利4.8mm（折5mm） 2022 2023 2024 2025 (600) (400) (200) 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 华北玻璃生产利润（气） 2020 2021 2022 2023 2024 2025 1006 1044 1006 1040 1012 1002 1112 1169 900 950 1000 1050 1100 1150 1200 1250 1300 1350 沙河德金 沙河安全 沙河低价 湖北低价 12合约 01合约 05合约 09合约 玻璃价格结构 今日(12/8） 昨日(12/5） 一周前(12/1） 一月前(11/10） (500) 0 500 1,000 1,500 华南玻璃利润（气） 2020 2021 2022 2023 2024 2025 0 500 1,000 1,500 2,000 2,500 3,000 3,500 玻璃：河北低价大板 2019 2020 2021 2022 2023 2024 2025 0 ...

白糖 现货价格 基差 进口利润 仓单 日期 柳州 南宁 昆明 柳州基差 泰国 巴西 郑盘 2025/12/02 5565 5470 5415 183 267 446 183 2025/12/03 5545 5460 5410 179 266 446 183 2025/12/04 5525 5430 5380 197 255 435 183 2025/12/05 5505 5410 5370 202 258 438 183 2025/12/08 5505 5410 5345 168 252 432 1671 变化 0 0 -25 -34 -6 -6 1488 【行情分析】： 白糖：国产新糖供应陆续增加，本周糖厂报价下调较快，现货弱势带动盘面下行。短期原糖供应压力减少，盘面定价仍可参考国产糖成本和现 货价格；中长期若全球糖市过剩程度加剧，盘面向下寻找配额外进口成本。关注天气风险和政策变动。 | 农产品早报 | | --- | | | | | | | | | | 研究中心农产品团队 2025/12/09 | | | | | --- | --- | --- | --- | --- | --- | --- | --- ...