Group 1 - The core viewpoint of the article highlights the trading performance of glass futures, with the main contract 2509 experiencing a price increase of 7.12% as of July 21, 2025, and a total trading volume of 4.83 million contracts [1][3] - The total trading volume for all glass futures contracts reached 4.83 million contracts, with an increase of 1.99 million contracts compared to the previous day [1][4] - The top 20 positions in the glass futures market show a net short position, with a difference of 199,388 contracts [1][3] Group 2 - The top three long positions are held by Guotai Junan with a total holding of 92,492 contracts, followed by Fangzheng Futures with 71,301 contracts, and CITIC Futures with 64,371 contracts [1][4] - The top three short positions are also led by Guotai Junan with 210,469 contracts, followed by Yong'an Futures with 115,224 contracts, and CITIC Futures with 113,332 contracts [1][4] - The long positions in the top 20 show a decrease of 74,200 contracts, while the short positions decreased by 14,270 contracts compared to the previous day [1][3]

主力合约前20席位中，空头增仓前三名分别是：国泰君安期货、持仓72083、增仓3455，物产中大期货、持仓4263、增仓2205，中 信期货、持仓53769、增仓2151；空头减仓前三名分别是：瑞达期货、持仓4569、减仓-1227，海通期货、持仓3249、减仓-707， 中金财富期货、持仓4897、减仓-539。 文章来源:新浪期货 新浪期货 根据交易所数据，截至7月18日收盘主力合约碳酸锂2509,涨跌+2.82%,成交量120.63万手，持仓数据显示前20席位呈现净 空，差额头寸为95120手。 碳酸锂期货全合约总计成交147.28万手，比上一日新增43.13万手。全合约前20席位多头持仓39.52万手，比上一日增加3.06万手。 全合约前20席位空头持仓53.00万手，比上一日增加2.16万手。 根据合并数据显示，多头前三席位为中信期货，总持仓64741、国泰君安期货，总持仓52122、东证期货，总持仓30494；空头前三 席位为国泰君安期货，总持仓133867、中信期货，总持仓97575、东证期货，总持仓40639； 主力合约前20席位中，多头增仓前三名分别是：永安期货、持仓15450、增仓4762 ...

Group 1 - The core viewpoint of the article highlights the trading activity and positions in lithium carbonate futures, indicating a recent increase in both trading volume and open interest [1][3][4] - As of July 17, the main contract for lithium carbonate (2509) saw a price increase of 2.47%, with a total trading volume of 1,041,500 contracts, which is an increase of 46,930 contracts from the previous day [1][3] - The top 20 positions show a net short position with a difference of 96,986 contracts, where the long positions totaled 376,900 contracts and short positions totaled 511,100 contracts [1][3] Group 2 - The top three long positions are held by CITIC Futures with a total holding of 62,897 contracts, Guotai Junan Futures with 50,803 contracts, and Dongzheng Futures with 27,753 contracts [1][3] - The top three short positions are held by Guotai Junan Futures with 127,955 contracts, CITIC Futures with 92,225 contracts, and GF Futures with 40,412 contracts [1][3] - The article provides detailed changes in positions, indicating that Guotai Junan Futures increased its long position by 3,137 contracts, while CITIC Futures reduced its long position by 1,808 contracts [1][3][4]

Core Insights - The main contract for polysilicon (2509) closed at a price increase of 7.24% as of July 17, with a trading volume of 506,000 contracts and a net long position of 17,683 contracts among the top 20 positions [1][3]. Trading Volume and Positions - Total trading volume for all polysilicon contracts reached 1,095,400 contracts, an increase of 132,600 contracts from the previous day [1][4]. - The top 20 positions showed a total long position of 286,600 contracts, up by 32,200 contracts from the previous day [1][4]. - The total short position among the top 20 positions was 247,300 contracts, which increased by 33,300 contracts compared to the previous day [1][4]. Major Players - The top three long positions were held by Guotai Junan Futures (46,504 contracts), CITIC Futures (38,778 contracts), and Zheshang Futures (36,788 contracts) [1][4]. - The top three short positions were held by CITIC Futures (29,949 contracts), Guotai Junan Futures (25,716 contracts), and CITIC Jiantou (24,825 contracts) [1][4]. Changes in Positions - Among the top 20 positions, the largest increases in long positions were from Guotai Junan Futures (5,499 contracts), Haitong Futures (2,941 contracts), and Guomao Futures (2,673 contracts) [1][4]. - The largest decreases in long positions were from Yong'an Futures (-1,516 contracts), Wukuang Futures (-229 contracts), and Baocheng Futures (-55 contracts) [1][4]. - The largest increases in short positions were from CITIC Jiantou (3,711 contracts), Dongwu Futures (2,673 contracts), and CITIC Futures (2,039 contracts) [1][4]. - The largest decreases in short positions were from Yong'an Futures (-465 contracts), Zhaoshang Futures (-360 contracts), and Shenyin Wanguo (-202 contracts) [1][4].

Group 1: SP Main Contract Closing Price - The closing price of the SP main contract on July 15, 2025, was 5262.00 [3] - The closing prices on July 14, 11, 10, and 9, 2025, were 5244.00, 5234.00, 5196.00, and 5106.00 respectively [3] - The corresponding US dollar - converted prices were 640.52, 638.66, 637.28, 632.01, and 620.49 respectively [3] - The daily price changes were 0.34325%, 0.19106%, 0.73133%, 1.76263%, and 0.39324% respectively [3] - The Shandong Yinxing basis was 688 on July 15, 2025, and the Jiangsu - Zhejiang - Shanghai Yinxing basis was 743 [3] Group 2: Pulp Import and Pricing - With a 13% VAT calculation, for Canadian pulp, the CFR price of Golden Lion was 780 US dollars, with a Shandong RMB price of 6450 and an import profit of 110.36; the CFR price of Lion was 730 US dollars, with a Shandong RMB price of 5675 and an import loss of 309.53 [4] - For Chilean pulp, the CFR price of Yinxing (90 - day letter of credit) was 720 US dollars, with a Shandong RMB price of 5950 and an import profit of 46.49 [4] Group 3: Pulp and Paper Price Averages - From July 9 to July 15, 2025, the national average prices of softwood pulp, hardwood pulp, natural pulp, and chemimechanical pulp remained unchanged at 6073.75, 4810.75, 5415.00, and 3686.25 respectively; the Shandong average prices also remained unchanged [4] - The prices of cultural paper (double - offset index, double - copper index), packaging paper (white - card index), and living paper (living index) remained unchanged from July 10 to July 15, 2025 [4] Group 4: Paper Profit Margins - From July 10 to July 15, 2025, the estimated profit margins of double - offset paper decreased from 9.8816% to 9.4621%, double - copper paper decreased from 24.4463% to 24.0958%, white - card paper decreased from - 8.9461% to - 10.9091%, and living paper decreased from 9.2468% to 8.9604% [4] Group 5: Pulp Price Spreads - From July 9 to July 15, 2025, the price spreads between softwood and hardwood pulp, softwood and natural pulp, softwood and chemimechanical pulp, and softwood and waste paper pulp showed minor changes or remained stable [4]

2025年7月16日多晶硅主力合约2509持仓数据一览 | | 名次 会员名称 成交量(双边) | | 增减 | 会员 | 持买車 | 增减 | 会员 | 持卖单 | 增减 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | T | 中信期货 | 96,400 | -42,947 | 国泰君安期货 | 18,107 | -419 | 中信建投 | 14,195 | 031 | | 2 | 国泰君安期货 | 74,276 | -4,656 | 浙商期货 | 17,650 | 1,110 | 中信期货 | 9,329 | -157 | | 3 | 中信建投 | 45,868 | -11,819 | 永安期货 | 15,291 | 5,311 | 银河期货 | 8,213 | 1.064 | | 4 | 走闻期货 | 30,311 | 8,863 | 中信期货 | 13,969 | 1,071 | 国泰君安期货 | 7,852 | -661 | | 5 | 王矿期货 | 27,790 | -2,125 | 中信建投 | 8,892 | ...

主力合约前20席位中，多头增仓前三名分别是：华泰期货、持仓11706、增仓361，中信建投、持仓4468、增仓236，宏源期货、持 仓5842、增仓216；多头减仓前三名分别是：东证期货、持仓27125、减仓-2946，平安期货、持仓6922、减仓-772，兴证期货、持 仓2259、减仓-521； 主力合约前20席位中，空头增仓前三名分别是：格林大华、持仓3010、增仓401，中信建投、持仓3554、增仓94，华泰期货、持仓 10260、增仓69；空头减仓前三名分别是：国金期货、持仓4932、减仓-671，宏源期货、持仓4469、减仓-582，国泰君安、持仓 14313、减仓-434。 文章来源:新浪期货 | | | | | 2025年7月16日10年期国债期货主力合约2509持仓数据 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 名次 会员名称 成交量(双边) | | 增减 | | 会员 持买单 | 增减 | 会员 | 持卖单 | 增减 | | ਹ | 中信期货 | 17,548 | -4,257 ...

Core Insights - The main focus of the article is on the trading performance and positioning of the coking coal futures market as of July 16, 2025, highlighting changes in open interest and trading volumes [1][3][4]. Trading Performance - As of July 16, 2025, the main contract for coking coal (2509) experienced a price change of -1.45%, with a trading volume of 21,900 contracts, indicating a decrease of 970 contracts from the previous day [1]. - The total trading volume for all coking coal contracts was 25,000 contracts, which is a reduction of 970 contracts compared to the previous day [1]. Open Interest Analysis - The top 20 positions in the coking coal futures market showed a net short position, with a difference of 3,839 contracts [1]. - The long positions among the top 20 were 28,100 contracts, an increase of 216 contracts from the previous day, while the short positions were 31,900 contracts, an increase of 483 contracts [1][4]. Major Players - The top three long positions were held by: - Galaxy Futures with a total holding of 5,538 contracts, a decrease of 37 contracts - CITIC Futures with a total holding of 3,935 contracts, a decrease of 83 contracts - Guotai Junan with a total holding of 3,419 contracts, an increase of 42 contracts [1][3]. - The top three short positions were held by: - CITIC Futures with a total holding of 3,805 contracts, an increase of 176 contracts - Wuchan Zhongda with a total holding of 3,124 contracts, an increase of 70 contracts - Huatai Futures with a total holding of 2,554 contracts, a decrease of 121 contracts [1][3]. Position Changes - Among the top 20 positions, the largest increases in long positions were seen in: - Dongwu Futures with an increase of 97 contracts to a total of 820 - Zhonghui Futures with an increase of 62 contracts to a total of 724 - Yong'an Futures with an increase of 59 contracts to a total of 2,543 [1][4]. - The largest increases in short positions were noted for: - Guotai Junan with an increase of 281 contracts to a total of 2,177 - Yong'an Futures with an increase of 230 contracts to a total of 1,561 - CITIC Futures with an increase of 176 contracts to a total of 3,805 [1][4].

Core Insights - As of July 16, 2025, the main contract for coking coal (2509) experienced a decline of 1.48%, with a trading volume of 975,300 contracts and a net short position of 45,396 contracts among the top 20 positions [1][3]. Trading Volume and Positions - The total trading volume for all coking coal contracts was 1,246,300 contracts, a decrease of 78,600 contracts from the previous day [1][4]. - Among the top 20 positions, long positions totaled 439,200 contracts, an increase of 10,600 contracts, while short positions totaled 516,700 contracts, an increase of 25,000 contracts [1][4]. Major Players - The top three long positions were held by: - CITIC Futures with a total position of 47,665 contracts - Guotai Junan with a total position of 42,426 contracts - Huatai Futures with a total position of 42,160 contracts [1][3]. - The top three short positions were held by: - Guotai Junan with a total position of 81,591 contracts - CITIC Futures with a total position of 66,697 contracts - Galaxy Futures with a total position of 45,111 contracts [1][3]. Changes in Positions - Among the top 20 positions, the largest increases in long positions were from: - Xingzheng Futures with an increase of 3,808 contracts - Founder Futures with an increase of 2,585 contracts - CITIC Jiantou with an increase of 2,137 contracts [1][3]. - The largest increases in short positions were from: - Guotai Junan with an increase of 7,377 contracts - Donghai Futures with an increase of 2,709 contracts - CITIC Futures with an increase of 2,682 contracts [1][3].

Report Information - Report Title: Coke Daily Report - Report Date: July 16, 2025 - Research Team: Black Team of the Research Center [1] Key Data Summary Coke Prices - **Shanxi Quasi - First Wet - Quenched Coke**: The latest price is 1153.65, with no daily or weekly change, a monthly decrease of 54.61, and a year - on - year decrease of 40.84% [2] - **Hebei Quasi - First Wet - Quenched Coke**: The latest price is 1375.00, with no daily or weekly change, a monthly decrease of 75.00, and a year - on - year decrease of 37.21% [2] - **Shandong Quasi - First Dry - Quenched Coke**: The latest price is 1330.00, with no daily or weekly change, a monthly decrease of 55.00, and a year - on - year decrease of 40.36% [2] - **Jiangsu Quasi - First Dry - Quenched Coke**: The latest price is 1370.00, with no daily or weekly change, a monthly decrease of 55.00, and a year - on - year decrease of 39.65% [2] - **Inner Mongolia Second - Grade Coke**: The latest price is 880.00, with no daily or weekly change, a monthly decrease of 50.00, and a year - on - year decrease of 45.00% [2] Production and Utilization - **Blast Furnace Operating Rate**: The latest rate is 89.90, with a weekly decrease of 0.39, a monthly decrease of 0.68, and a year - on - year increase of 0.92% [2] - **Daily Average Pig Iron Output**: The latest output is 239.81, with a weekly decrease of 1.04, a monthly decrease of 1.80, and a year - on - year increase of 0.64% [2] - **Coking Capacity Utilization Rate**: The latest rate is 73.20, with a weekly decrease of 0.06, a monthly decrease of 1.73, and a year - on - year decrease of 1.33% [2] - **Daily Average Coke Output**: The latest output is 53.59, with a weekly decrease of 0.04, a monthly decrease of 0.07, and a year - on - year increase of 0.45% [2] Inventory - **Coking Plant Inventory**: The latest inventory is 59.58, with a weekly decrease of 2.02, a monthly decrease of 27.73, and a year - on - year increase of 67.88% [2] - **Port Inventory**: The latest inventory is 200.08, with a weekly increase of 8.96, a monthly decrease of 3.01, and a year - on - year decrease of 0.10% [2] - **Steel Mill Inventory**: The latest inventory is 637.80, with a weekly increase of 0.31, a monthly decrease of 5.04, and a year - on - year increase of 18.44% [2] - **Steel Mill Inventory Days**: The latest number of days is 11.64, with a weekly increase of 0.12, a monthly increase of 0.02, and a year - on - year increase of 13.01% [2] Futures Market - **Futures Price (Contract 05)**: The latest price is 1600, with a daily increase of 9.50, a weekly increase of 73.50, a monthly increase of 221.50, and a year - on - year decrease of 31.48% [2] - **Futures Price (Contract 09)**: The latest price is 1516.5, with a daily decrease of 10.50, a weekly increase of 71.00, a monthly increase of 164.50, and a year - on - year decrease of 32.25% [2] - **Futures Price (Contract 01)**: The latest price is 1561, with a daily increase of 1.50, a weekly increase of 74.50, a monthly increase of 186.50, and a year - on - year decrease of 32.89% [2] - **Basis (Contract 05)**: The latest basis is - 182.10, with a daily decrease of 9.50, a weekly decrease of 73.50, a monthly decrease of 258.72, and a significant change compared to the previous year [2] - **Basis (Contract 09)**: The latest basis is - 98.60, with a daily increase of 10.50, a weekly decrease of 71.00, a monthly decrease of 201.72, and a significant change compared to the previous year [2] - **Basis (Contract 01)**: The latest basis is - 143.10, with a daily decrease of 1.50, a weekly decrease of 74.50, a monthly decrease of 223.72, and a significant change compared to the previous year [2] - **Spread (5 - 9)**: The latest spread is - 39.00, with a daily decrease of 8.00, a weekly increase of 1.00, a monthly decrease of 35.00, and a year - on - year decrease of 30.00% [2] - **Spread (9 - 1)**: The latest spread is 83.50, with a daily increase of 20.00, a weekly increase of 2.50, a monthly increase of 57.00, and a year - on - year decrease of 13.00 [2] - **Spread (1 - 5)**: The latest spread is - 44.50, with a daily decrease of 12.00, a weekly decrease of 3.50, a monthly decrease of 22.00, and a year - on - year increase of 43.00 [2] Historical Price Charts - The report also includes historical price charts of coke in different regions such as Linfen, Lvliang, Rizhao Port, Changzhi, Qingdao Port, Tianjin Port from 2021 to 2025, as well as charts related to coking capacity utilization, coke production, inventory, blast furnace capacity utilization, pig iron output, and coking profit [3][4][5]