研究中心农产品团队 2025/09/26 | 玉米/淀粉 | | | | 玉米 | | | | | | 淀粉 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 日期 | 长春 | 锦州 | 潍坊 | 蛇口 | 基差 | 贸易利润 | 进口盈亏 | 黑龙江 | 潍坊 | 基差 | 加工利润 | | 2025/09/19 | 2230 | 2230 | 2264 | 2420 | 62 | 60 | 292 | 2750 | 2850 | 242 | -26 | | 2025/09/22 | 2230 | 2250 | 2264 | 2420 | 103 | 40 | 277 | 2750 | 2850 | 274 | -46 | | 2025/09/23 | 2230 | 2250 | 2264 | 2420 | 92 | 35 | 286 | 2750 | 2850 | 258 | -51 | | 2025/09/24 | 2230 | 2250 | 2264 | 2400 | 86 | 15 | 2 ...

Group 1: Report Information - Report Title: Synthetic Rubber Morning Report [2] - Research Team: Energy and Chemicals Team of the Research Center [2] - Report Date: September 26, 2025 [2] Group 2: BR (Butadiene Rubber) Market Data Futures Market - On September 25, the closing price of the main contract was 11,545, with a daily increase of 25 and a weekly increase of 130 [3] - The open interest of the main contract was 51,154, a daily decrease of 7,496 and a weekly decrease of 23,349 [3] - The trading volume of the main contract was 83,682, a daily decrease of 29,720 and a weekly decrease of 32,429 [3] - The warrant quantity was 9,250, a daily increase of 100 and a weekly decrease of 1,740 [3] - The virtual - to - real ratio was 27.65, a daily decrease of 4 and a weekly decrease of 6 [3] Basis and Spread - The basis of cis - butadiene was 155, a daily decrease of 25 and a weekly decrease of 130 [3] - The 8 - 9 spread was - 5, a daily decrease of 15 and a weekly decrease of 170; the 9 - 10 spread was 190, a daily decrease of 40 and a weekly increase of 45 [3] Spot Market - The Shandong market price was 11,580, unchanged daily and up 30 weekly; the Transfar market price was 11,500, unchanged daily and up 50 weekly [3] - The Qilu ex - factory price was 11,700, unchanged both daily and weekly [3] - CFR Northeast Asia was 1,500, unchanged daily and down 25 weekly; CFR Southeast Asia was 1,700, unchanged both daily and weekly [3] Processing and Import - Export - The spot processing profit was - 121, a daily increase of 87 and a weekly increase of 142; the futures processing profit was - 156, a daily increase of 112 and a weekly increase of 242 [3] - The import profit was - 83,107, a daily decrease of 151 and a weekly decrease of 128; the export profit was - 38, a daily increase of 16 and a weekly decrease of 187 [3] Group 3: BD (Butadiene) Market Data Price - The Shandong market price was 9,315, a daily decrease of 82 and a weekly decrease of 110; the Jiangsu market price was 9,175, unchanged daily and up 25 weekly [3] - The Yangzi ex - factory price was 9,150, unchanged both daily and weekly; CFR China was 1,060, unchanged daily and down 30 weekly [3] Processing and Import - Export - The carbon - four extraction profit was not available; the butylene oxidative dehydrogenation profit was 361, unchanged daily and up 305 weekly [3] - The import profit was 492, a daily decrease of 14 and a weekly increase of 252; the export profit was - 1,080, a daily decrease of 60 and a weekly decrease of 259 [3] Group 4: Downstream Profit Data - The cis - butadiene production profit was - 156, a daily increase of 112 and a weekly increase of 242; the styrene - butadiene production profit was 1,063, unchanged daily and up 125 weekly [3] - The ABS production profit was 106, a daily decrease of 19 and a weekly increase of 109; the SBS (791 - H) production profit was 985, unchanged daily and up 130 weekly [3] Group 5: Inter - variety Spread Data - RU - BR was - 35,584, a daily increase of 7,446 and a weekly increase of 23,349; NR - BR was - 38,724, a daily increase of 7,461 and a weekly increase of 23,479 [3] - The Thai mixed - cis - butadiene spread was not available; the 3L - styrene - butadiene spread was 3,100, a daily decrease of 50 and a weekly increase of 50 [3] - The cis - butadiene standard - non - standard spread was 180, a daily increase of 20 and a weekly increase of 30; the styrene - butadiene 1502 - 1712 spread was 1,000, unchanged both daily and weekly [3]

| | 指标 | 8/27 | 9/17 | 9/23 | 9/24 | 9/25 | 日度变化 | 周度变化 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | BU主力合约 | 3471 | 3445 | 3373 | 3392 | 3440 | 48 | -5 | | | BU10 | 3471 | 3451 | 3400 | 3408 | 3460 | 52 | 9 | | | BU11 | 3443 | 3445 | 3373 | 3392 | 3440 | 48 | -5 | | | BU12 | 3399 | 3404 | 3320 | 3337 | 3382 | 48 | -19 | | 程南 | BU01 | 3364 | 3386 | 3284 | 3302 | 3360 | 58 | -26 | | | BU03 | 3372 | 3378 | 3297 | 3325 | 3372 | 47 | -6 | | | 成交量 | 300106 | 209430 | 280475 | 242519 | 275998 | 3 ...

不可好用 永安镇日度数据 研究中心有色团队 2025/9/25 | 现货/期货价格 | 2025/9/25 | 变化量 | 库存/持仓 | 2025/9/25 | 变化量 | 基差/比价 | 2025/9/25 | 变化量 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | LME镍现货结算价 | 15100 | | LME镍总库存 | 230586 | 132 | 1#进口镍沪镍合约升贴水 | 325 | 25 | | LME镍3收盘价 | 15435 | 95 | LME镍豆库存 | 27708 | -24 | 1#金川镇沪镍合约升贴水 | 2300 | -50 | | SHFE镍主力结算价 | 121680 | 670 | LME镍板库存 | 198282 | 480 | 镍豆现货升贴水 | 2450 | | | SOURCE | POINT | | SHFE电解镍库存总计 | 29834 | 2334 | LME镍0-3升贴水 | -178.85 | -5.5 | | | | | SMM不锈钢总库存 | 897200 | -5400 ...

70 -300股指 IV -- 300股指 HV IV-HV美 - 50ETF IV IV-HV美 - 50ETF HV 20 BO IV-HV差 -- 1000股指 IV -- 1000股指 HV - 500ETF HV - 500ETF IV -HV手 20 10 20 0 10 20 白银 IV 日报 HV IV-HV美 沪金 IV HA HA 244 3586 075PF 2005/14 一豆粕 IV 空期 HV IV-HV差 玉米 IV 玉米 HV IV-HV差 50 20 20 30 10 10 10 40 0 40 017 CLS e 75 . (2) 145 27 NE . 30 10-5 BT 8 40 10 30 30 白糖 IV 白糖 HV IV-HV差 | IV-HV差 -- 棉花 IV -- 棉花 HV 25 20 25 20 10 20 0 15 10 10 -20 TO 30 15 5 40 0 o 20 01 00 a/16 70 40 - 申醇 IV - 用酮 HV IV-HV套 橡胶 Ⅳ 橡胶 HV IIV-HV l 30 30 eg 50 20 20 50 40 10 1 ...

Group 1: General Information - Report title: Yongan Town Daily Data [2] - Report date: September 25, 2025 [2] - Research team: Nonferrous Metals Team of the Research Center [2] Group 2: Price Data - LME nickel spot settlement price: 15,100 [3] - LME nickel 3 - month closing price: 15,435, up 95 [3] - SHFE nickel main contract settlement price: 121,680, up 670 [3] Group 3: Inventory Data - LME nickel total inventory: 230,586, up 132 [3] - LME nickel bean inventory: 27,708, down 24 [3] - LME nickel plate inventory: 198,282, up 480 [3] - SHFE electrolytic nickel total inventory: 29,834, up 2,334 [3] - SMM stainless steel total inventory: 897,200, down 5,400 [3] Group 4: Basis and Ratio Data - 1 imported nickel premium to SHFE nickel contract: 325, up 25 [3] - 1 Jinchuan nickel premium to SHFE nickel contract: 2,300, down 50 [3] - Nickel bean spot premium: 2,450 [3] - LME nickel 0 - 3 premium: - 178.85, down 5.5 [3] Group 5: Month - Spread and Price - Spread Data - Spread between consecutive first and third contracts: - 340, up 30 [3] - Spread between consecutive second and third contracts: - 210, up 30 [3] - SMM bonded area electrolytic nickel US dollar premium: 50 [3] Group 6: Import and Export Data - Electrolytic nickel import profit and loss: - 1,581.9, down 186.17 [3]

焦炭日报 研究中心黑色团队 2025/9/25 | | 最新 | 日变化 | 周变化 | 月变化 同比 | | 最新 | 日变化 | 周变化 | 月变化 同比 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 山西准一湿熄 | 1427.78 | 0.00 | 0.00 | -108.16 | -14.41% 高炉开工率 | 90.35 | | 0.17 | 0.10 | 7.70% | | 河北准一干熄 | 1680.00 | 0.00 | 0.00 | -110.00 | 4.35% 铁水日均产量 | 241.02 | | 0.47 | 0.27 | 7.68% | | 山东准一干熄 | 1605.00 | 0.00 | 0.00 | -110.00 | -13.01% 盘面05 | 1869.5 | 22.50 | 16.00 | 63.00 | -6.27% | | 江苏准一干熄 | 1645.00 | 0.00 | 0.00 | -110.00 | -12.73% 盘面09 | 1943 | 9.50 ...

| Un m 22 III | 11 11 22 111 | | --- | --- | | SOURCE POINT | SOURCE POINT | | ーーココロの化 11 12 11 11 | | | 乖 亦安期货 | | --- | | 研究中心宏观团队 2025/09/25 | | --- | 注：沪深300、上证50、中证500的10年利率用10年期AAA企业债利率，标普500用美国10年期国债利率，德国DAX用德国10年期国债利率 国 债 期 货 交 易 数 据 国债期货 T00 TF00 T01 TF01 收盘价 107.650 105.565 107.305 105.445 涨跌（%） -0.24% -0.14% -0.22% -0.13% 资金利率 R001 R007 SHIBOR-3M 1.4973% 1.7066% 1.5660% 日度变化(BP) -2.00 19.00 1.00 货 币 市 场 国内货币市场 免责声明: 以上内容所依据的信息均来源于交易所、媒体及资讯公司等发布的公开资料或通过合法授权渠道向发布人取得的资讯，我们力求分析及建议内 容的客观、公正，研究方法专业审慎，分 ...

塑 料 日期 东北亚乙 烯 华北LL 华东LL 华东LD 华东HD LL美金 LL美湾 进口利润 主力期货 基差 两油库存 仓单 2025/09/1 8 850 7120 7285 9540 7400 840 796 -97 7188 -90 64 12736 2025/09/1 9 845 7100 7250 9530 7400 840 796 -66 7169 -70 63 12736 2025/09/2 2 845 7070 7215 9530 7350 840 796 -97 7130 -60 63 12736 2025/09/2 3 845 7050 7190 9515 7350 840 796 -97 7105 -60 63 12736 2025/09/2 4 845 7070 7200 9515 7350 840 796 -97 7142 -60 63 12736 日度变化 0 20 10 0 0 0 0 0 37 0 0 0 观点 聚乙烯，两油库存同比中性，上游两油去库，煤化工去库，社会库存持平，下游库存原料中性，成品库存中性。整体库存中性，09 基差华北-110左右，华东-50，外盘欧美稳， ...

20 2025 2019 2024 SCFI（欧线）运价季节性趋势 (剔除20-24年) ગઢ 载安卓版 研究中心能化团队 2025/9/25 总裁 昨日收盘价 (%) 昨日成交量 昨日持仓暨 持仓变动 群 1.31 40940 22606 -568 EC2510 1114.4 325.8 46816 EC2512 4.50 26219 488 1696.5 256.3 EC2602 1588.1 3.42 147.9 4582 8043 442 EC2604 1261.0 2.14 179.2 1655 8931 77 期货 EC2606 1.69 -6 1445.3 105 მરဥ -5.1 图形比 日差 日 HMH 8 日 FC2510-2512 -582.1 -523.4 -560.2 -58.7 -42.7 20.6 29.2 EC2512-2602 108.4 87.8 80.3 指柯 更新频率 必#日期 kill -期 前两期 本期涨跌 下期涨跌 क्वर 1566.46 SCFIS 每周 2025/9/15 1440.24 1773.60 -8.06% -11.68% t 视 -8.84% - ...