Core Viewpoint - The diversified financial sector experienced a slight increase of 0.59% on November 24, with *ST Xiongmao leading the gains. The Shanghai Composite Index closed at 3836.77, up 0.05%, while the Shenzhen Component Index closed at 12585.08, up 0.37% [1]. Group 1: Stock Performance - The top-performing stocks in the diversified financial sector included *ST Nengmao, which rose by 5.02% to a closing price of 10.04, and Sichuan Shuangma, which increased by 4.27% to 22.20 [1]. - Other notable gainers included Yalian Youzhan (+3.99%), Lakala (+2.95%), and Jiuding Investment (+1.70%) [1]. Group 2: Trading Volume and Value - The trading volume and value for the top stocks were significant, with Sichuan Shuangma achieving a trading volume of 234,700 shares and a transaction value of 518 million yuan [1]. - Lakala had a transaction value of 353 million yuan with a trading volume of 162,200 shares, indicating strong market interest [1]. Group 3: Capital Flow - The diversified financial sector saw a net outflow of 194 million yuan from major funds, while retail investors contributed a net inflow of 281 million yuan [2]. - The data indicates that while institutional investors were withdrawing, retail investors were actively buying into the sector [2]. Group 4: Individual Stock Capital Flow - Sichuan Shuangma experienced a net outflow of 50.79 million yuan from major funds, while it had a net inflow of 1.10 million yuan from speculative funds [3]. - Conversely, *ST Nengmao saw a net inflow of 5.20 million yuan from major funds, indicating strong institutional interest despite overall sector outflows [3].

1. Report Industry Investment Rating - No relevant information is provided in the text. 2. Core Viewpoints of the Report - The report presents the latest data, daily, weekly, monthly, and year - on - year changes of various indicators in the coke industry on November 24, 2025, including coke prices, production, inventory, and related market indicators [2]. 3. Summary by Related Catalogs 3.1 Coke Price - The latest price of Shanxi quasi - first wet quenching coke is 1649.42, with no daily change, a weekly increase of 57.81, a monthly increase of 167.03, and a year - on - year decrease of 7.17% [2]. - The latest price of Hebei quasi - first dry quenching coke is 1900.00, with no daily change, a weekly increase of 55.00, a monthly increase of 165.00, and a year - on - year increase of 11.11% [2]. - The latest price of Shandong quasi - first dry quenching coke is 1825.00, with no daily change, a weekly increase of 55.00, a monthly increase of 165.00, and a year - on - year decrease of 6.65% [2]. - The latest price of Jiangsu quasi - first dry quenching coke is 1865.00, with no daily change, a weekly increase of 55.00, a monthly increase of 165.00, and a year - on - year decrease of 6.52% [2]. - The latest price of Inner Mongolia second - grade coke is 1330.00, with no daily change, a weekly increase of 50.00, a monthly increase of 150.00, and a year - on - year decrease of 8.28% [2]. 3.2 Production and Utilization Rate - The blast furnace operating rate is 88.58, with a weekly decrease of 0.22, a monthly decrease of 1.36, and no year - on - year change [2]. - The daily average iron water output is 236.28, with a weekly decrease of 0.60, a monthly decrease of 3.62, and a year - on - year increase of 0.20% [2]. - The coking capacity utilization rate is 71.10, with a weekly decrease of 0.74, a monthly decrease of 2.89, and a year - on - year decrease of 1.92% [2]. - The daily average coke output is 52.89, with a weekly decrease of 0.23, a monthly increase of 1.68, and a year - on - year increase of 2.74% [2]. 3.3 Inventory - The coking plant inventory is 43.44, with a weekly increase of 7.29, a monthly increase of 5.95, and a year - on - year increase of 7.87% [2]. - The port inventory is 193.00, with a weekly decrease of 5.80, a monthly decrease of 7.09, and a year - on - year increase of 8.93% [2]. - The steel mill inventory is 622.34, with a weekly decrease of 0.06, a monthly decrease of 10.82, and a year - on - year increase of 4.48% [2]. - The steel mill inventory days are 11.05, with a weekly decrease of 0.01, a monthly decrease of 0.02, and a year - on - year decrease of 3.75% [2]. 3.4 Futures Market - The latest price of futures contract 05 is 1789, with a daily increase of 3.00, a weekly decrease of 53.00, a monthly decrease of 81.00, and a year - on - year decrease of 11.00% [2]. - The latest price of futures contract 09 is 1852, with a daily increase of 4.50, a weekly decrease of 64.50, a monthly decrease of 105.00, and a year - on - year decrease of 10.19% [2]. - The latest price of futures contract 01 is 1632, with a daily decrease of 4.00, a weekly decrease of 66.00, a monthly decrease of 99.00, and a year - on - year decrease of 15.72% [2]. - The 05 basis is 175.97, with a daily decrease of 3.00, a weekly increase of 50.85, a monthly increase of 274.58, and a year - on - year increase of 105.53 [2]. - The 09 basis is 109.97, with a daily decrease of 4.50, a weekly increase of 62.35, a monthly increase of 298.58, and a year - on - year increase of 95.03 [2]. - The 01 basis is 332.97, with a daily increase of 4.00, a weekly increase of 63.85, a monthly increase of 292.58, and a year - on - year increase of 189.03 [2]. - The 5 - 9 spread is - 157.00, with a daily decrease of 7.00, a weekly decrease of 13.00, a monthly decrease of 18.00, and a year - on - year decrease of 83.50 [2]. - The 9 - 1 spread is - 66.00, with a daily decrease of 1.50, a weekly increase of 11.50, a monthly increase of 24.00, and a year - on - year decrease of 10.50 [2]. - The 1 - 5 spread is 223.00, with a daily increase of 8.50, a weekly increase of 1.50, a monthly decrease of 6.00, and a year - on - year increase of 94.00 [2].

| | | | 钢材早报 | | | | | --- | --- | --- | --- | --- | --- | --- | | | | | | | 研究中心黑色团队 2025/11/24 | | | 现 货 价 格 | | | | | | | | 日期 | 北京螺纹 | 上海螺纹 | 成都螺纹 | 西安螺纹 | 广州螺纹 | 武汉螺纹 | | 2025/11/17 | 3230 | 3240 | 3220 | 3270 | 3400 | 3300 | | 2025/11/18 | 3230 | 3250 | 3240 | 3290 | 3420 | 3310 | | 2025/11/19 | 3230 | 3210 | 3240 | 3290 | 3420 | 3310 | | 2025/11/20 | 3230 | 3190 | 3190 | 3240 | 3420 | 3280 | | 2025/11/21 | 3230 | 3230 | 3190 | 3240 | 3420 | 3280 | | 变化 | 0 | 40 | 0 | 0 | 0 | 0 | | 日期 | 天津热卷 | 上海热卷 | ...

期货日报网讯（记者 刘威魁）为贯彻落实《关于加强监管防范风险促进期货市场高质量发展的意见》，精准借鉴浙江期货市场服务实体经济 的先进经验，助力辖区期货经营机构提升产业服务能力与核心竞争力，11月12—13日，广东证券期货业协会（以下简称"协会"）组织辖区期 货经营机构负责人及产业服务骨干一行26人赴杭州开展浙江期货行业调研活动。活动由协会会长廖卓带队，先后深入永安期货股份有限公司 （以下简称"永安期货"）和浙商中拓集团股份有限公司（以下简称"浙商中拓"）、杭州热联集团股份有限公司（以下简称"杭州热联"）两家 实体产业龙头企业进行调研，通过深度座谈与实地考察，有效搭建了粤浙两地期货行业与实体产业协同发展的交流桥梁，为辖区期货行业更 好服务实体经济积累了宝贵经验。 11月12日上午，永安期货总经理马志伟、副总经理杨敏、首席风险官史品和相关子公司、部门的负责人接待了调研团。作为国内期货行业的 标杆机构，永安期货在战略规划、核心竞争力构建及打造特色化服务模式等方面积累了丰富的实践经验。永安期货详细介绍了公司发展情 况、浙江期货行业发展生态和特点，并结合其在服务产业链上下游企业过程中的实践经验，重点阐明了"以合规为本" ...

| | 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 | 0.00 | 70.00 | 3.46% Peak Downs | 214.00 | 7.00 | 2.50 | 9.50 | -3.00 | | 原煤口岸库提价 | 997.00 | -43.00 | -103.00 | -130.00 | -6.82% Goonyella | 213.00 | 8.00 | 2.50 | 8.50 | -4.00 | | 沙河驿蒙5# | 1550.00 | 0.00 | 0.00 | 80.00 | -1.90% 盘面05 | 1183.50 | -41.50 | -69.00 | -119.50 | -11.15% | | 安泽主焦 | 1660.00 | 0.00 | -40.00 | 60.00 | 3.75% 盘面09 | 1244.50 | -48.00 ...

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，分析结论合理，但公司对信息来源的准确性和完整性不作任何保证，也不保证所依据的信息和建议不会 发生任何变化。且全部分析及建议内容仅供参考，不构成对您的任何投资建议及入市依据，客户应当自主做出期货交易决策，独立承担期货交 易后果，凡据此入市者，我公司不承担任何责任。未经公司授权，不得随意转载、复制、传播本网站中所有研究分析报告、行情分析视频等全 部或部分材料、内容。对可能因互联网软硬件设备故障或失灵、或因不可抗力造成的全部或部分信息中断、延迟、遗漏、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，我们均不承担任何责任。 贵金属早报 研究中心宏观团队 2025/11/21 价 格 表 现 品种 伦敦金 伦敦银 伦敦铂 伦敦钯 WTI原油 LME铜 最新 4090.60 50.85 1557.00 1408.00 59.44 10759.00 变化 -36.35 -1.35 23.00 -3.00 0.00 17.00 ...

数据来源：MYSTEEL 免责 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，分析结论合理，但我司对信息来源的准确性和完整性不作任何保证，也不保证所依据的信 息和建议不会发生任何变化。我们提供的全部分析及建议内容仅供参考，不构成对您的任何投资建议及入市依据，您应当自主做出期货 交易决策，独立承担期货交易后果，凡据此入市者，我司不承担任何责任。我司在为您提供服务时已最大程度避免与您产生利益冲突。 未经我司授权，不得随意转载、复制、传播本网站中所有研究分析报告、行情分析视频等全部或部分材料、内容。对可能因互联网软硬 件设备故障或失灵、或因不可抗力造成的全部或部分信息中断、延迟、遗漏、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。 声明 15 20 25 30 35 40 1/1 2/1 3/1 4/1 5/1 6/1 7/1 8/1 9/1 10/1 11/1 12/1 - 2022 2023 2024 2025 / 5 7 9 11 13 15 1 ...

Group 1 - The Shanghai Gold Exchange has issued a notice urging member units to enhance market risk control due to increasing volatility in international gold prices, with gold jewelry prices in China surpassing 1300 RMB per gram [1] - As of November 19, the international spot gold price briefly exceeded 4100 USD per ounce, with a year-to-date increase of over 55%, making gold one of the best-performing asset classes this year [1] - Major Chinese gold jewelry brands have reported prices for 24K gold jewelry exceeding 1300 RMB per gram, with specific brands like Chow Sang Sang and Chow Tai Fook pricing at 1307 RMB and 1305 RMB per gram respectively [1] Group 2 - Global central banks have shown increased enthusiasm for gold purchases, with a net purchase of 220 tons in Q3 2025, a 28% increase from Q2 and a 10% year-on-year rise [2] - As of the end of October, China's gold reserves reached approximately 2304.457 tons, marking a continuous increase for 12 months, although the recent increment was slightly lower than previous months [2] - Morgan Stanley suggests that many central banks, especially in emerging markets, will continue to increase their gold holdings despite potential reductions in buying intensity due to rising prices [3]

Core Insights - The integration of futures and spot markets is essential for the high-quality development of the new energy industry, transitioning from an optional strategy to a necessary one [3][12] - The futures market has become an indispensable risk management platform for new energy companies, helping them stabilize operations amid price volatility [2][8] Group 1: Industry Overview - Sichuan is a key clean energy base in China, with nearly 200 new energy companies and 11 local listed firms, generating approximately 207.9 billion yuan in revenue [2] - The province has established a strong industrial framework supported by solar, wind, and hydrogen energy, with significant contributions from leading companies like Tongwei Group and others [2] Group 2: Challenges and Solutions - The new energy sector faces challenges such as rapid technological changes, price fluctuations of raw materials, and complex global trade environments [3] - Futures integration provides innovative financial tools to stabilize production and optimize resource allocation, essential for the industry's healthy development [3][12] Group 3: Economic Insights - The macroeconomic landscape is characterized by K-shaped differentiation, with growth in technology and energy transition sectors, while traditional industries face adjustment pressures [4] - By 2026, the replacement of traditional fuels by new energy sources is expected to accelerate significantly, indicating a shift in market dynamics [4] Group 4: Financial Strategies - The practice of hedging through futures is increasingly recognized, with a 60% year-on-year increase in commodity hedging amounts among A-share listed companies [8] - Companies are encouraged to adopt comprehensive risk management strategies that align with their core business operations to effectively mitigate risks [8] Group 5: Future Directions - The integration of futures markets into the energy sector is seen as a critical opportunity for companies to enhance their competitive advantage [12] - There is a consensus among industry experts that deep integration and ecological co-construction will be the mainstream direction for future development [13]

证券代码：600927 证券简称：永安期货 公告编号：2025-065 永安期货股份有限公司 关于承租永安国富新大楼办公场地暨关联交易的 进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假 记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性 和完整性承担法律责任。 重要内容提示： 永安期货股份有限公司（以下简称"公司"或"永安期货"）、 子公司浙江永安资本管理有限公司（以下简称"永安资本"）近 日已与永富置业有限公司（以下简称"永富置业"）签署房屋租 赁协议。 一、关联交易概述 公司第三届董事会第二十五次会议及第三届监事会第十八 次会议分别审议通过了《关于承租永安国富新大楼办公场地的议 案》，同意公司向永安国富资产管理有限公司（以下简称"永安 国富"）之全资子公司永富置业承租永安国富大厦 A 座 1-11 层 作为办公场地。公司第四届董事会第四次会议及第四届监事会第 四次会议审议通过了《关于增租永安国富新大楼办公场地的议 案》，同意公司增租永安国富大厦 A 座 12 层房屋作为办公场地。 公司第四届董事会第五次会议及第四届监事会第五次会议分别 审议通过了《关于永安资本承租永安国富新大楼办公场地 ...