Market Overview - The diversified financial sector increased by 0.13% on November 6, with State Grid Yingda leading the gains [1] - The Shanghai Composite Index closed at 4007.76, up 0.97%, while the Shenzhen Component Index closed at 13452.42, up 1.73% [1] Stock Performance - State Grid Yingda (600517) closed at 7.04, up 3.68% with a trading volume of 1.4731 million shares and a transaction value of 1.038 billion [1] - Jiuding Investment (600053) closed at 20.48, up 3.49% with a trading volume of 143,100 shares and a transaction value of 29.062 million [1] - Other notable performers include ST Nengmao (665009) up 2.00%, Ruida Futures (002961) up 1.18%, and Yuexiu Capital (000987) up 1.00% [1] Capital Flow - The diversified financial sector experienced a net outflow of 286 million from institutional investors, while retail investors saw a net inflow of 370 million [2] - The overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors are increasing their positions [2] Individual Stock Capital Flow - State Grid Yingda had a net inflow of 90.6264 million from institutional investors, but a net outflow of 78.9733 million from retail investors [3] - Jiuding Investment saw a net inflow of 28.4576 million from institutional investors, with retail investors experiencing a net outflow of 2.4573 million [3] - Ruida Futures had a net inflow of 28.3838 million from institutional investors, while retail investors faced a net outflow of 28.8201 million [3]

证券日报网讯 11月5日晚间，瑞达期货（002961）发布公告称，公司及下属子公司不存在其他对外提供 担保的情况，也不存在逾期担保情形。 ...

| 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | | 期货收盘价(活跃合约):菜籽油(日,元/吨) | 9407 | -36 期货收盘价(活跃合约):菜籽粕(日,元/吨) | 2537 | 40 | | | 菜油月间差(1-5):(日,元/吨) | 345 | -18 菜粕月间价差(1-5)(日,元/吨) | 132 | 13 | | 期货市场 | 主力合约持仓量:菜油(日,手) | 214565 | 1525 主力合约持仓量:菜粕(日,手) | 408102 | 32792 | | | 期货前20名持仓:净买单量:菜油(日,手) | -8535 | -5155 期货前20名持仓:净买单量:菜粕(日,手) | -2963 | 22004 | | | 仓单数量:菜油(日,张) | 6838 | -702 仓单数量:菜粕(日,张) | 2955 | 0 | | | 期货收盘价(活跃):ICE油菜籽(日,加元/吨) | 639.2 | -8.4 期货收盘价(活跃合约):油菜籽(日,元/吨) | 5126 ...

| 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | | 沪铝主力合约收盘价(日,元/吨) | 21,395.00 | -70.00↓ 氧化铝期货主力合约收盘价(日,元/吨) | 2,772.00 | +2.00↑ | | | 主力-连二合约价差:沪铝(日,元/吨) | -55.00 | +20.00↑ 主力-连二合约价差:氧化铝(日,元/吨) | -41.00 | -9.00↓ | | | 主力合约持仓量:沪铝(日,手) | 225,136.00 | -31025.00↓ 主力合约持仓量:氧化铝(日,手) | 421,899.00 | +1617.00↑ | | | LME铝注销仓单(日,吨) | 45,625.00 | 0.00 库存:氧化铝:合计(周,万吨) | 248,311.00 | +8704.00↑ | | 期货市场 | LME电解铝三个月报价（日，美元/吨） | 2,865.50 | -43.00↓ LME铝库存（日，吨） | 552,575.00 | -2000.00↓ | | | 沪 ...

Report Summary 1. Report Industry Investment Rating There is no mention of the industry investment rating in the report. 2. Core View of the Report The precious metals market may continue to experience wide - range fluctuations. The tariff policy narrative has uncertainties, the ongoing US government shutdown and central bank gold - buying expectations provide bottom support for gold prices, but the strengthening of the US dollar and long - term yields pose potential suppression. The weakening of the short - term interest - rate cut expectation and the strengthening of the US dollar may resist the upward movement of gold prices. If the narrative about the end of the US government shutdown heats up, it may also suppress the upward expectation of gold prices. It is recommended to adopt an interval - band trading strategy. The Shanghai Gold 2512 contract should focus on the range of 890 - 950 yuan/gram, and the Shanghai Silver 2512 contract should focus on the range of 11,000 - 11,600 yuan/kilogram [2]. 3. Summary by Relevant Catalogs a. Market Data - **Futures Market**: The closing price of the Shanghai Gold main contract was 912.26 yuan/gram, down 3.32 yuan; the closing price of the Shanghai Silver main contract was 11,276 yuan/kilogram, up 38 yuan. The positions of the Shanghai Gold and Shanghai Silver main contracts decreased by 3,174 hands and 12,816 hands respectively. The net positions of the top 20 in the Shanghai Gold and Shanghai Silver main contracts increased by 117 hands and 2,931 hands respectively. The warehouse receipts of gold remained unchanged at 87,816 kilograms, while those of silver decreased by 9,440 kilograms to 656,170 kilograms [2]. - **Spot Market**: The Shanghai Non - ferrous Metals Network's gold spot price was 907.49 yuan/gram, down 8.51 yuan; the silver spot price was 11,159 yuan/kilogram, down 184 yuan. The basis of the Shanghai Gold main contract was - 4.77 yuan/gram, down 5.19 yuan; the basis of the Shanghai Silver main contract was - 117 yuan/kilogram, down 222 yuan [2]. - **Supply and Demand**: Gold ETF holdings decreased by 3.15 tons to 1,038.63 tons; silver ETF holdings decreased by 22.18 tons to 15,167.64 tons. The non - commercial net positions of gold and silver in CFTC increased by 339 and 738 respectively. The quarterly total supply of gold was 1,313.01 tons, up 54.84 tons; the annual total supply of silver was 987.8 million troy ounces, down 21.4 million troy ounces. The quarterly total demand for gold was 1,313.01 tons, up 54.83 tons; the annual global total demand for silver was 1,195 million ounces, down 47.4 million ounces [2]. - **Options Market**: The 20 - day historical volatility of gold was 36.03%, up 0.07%; the 40 - day historical volatility was 26.84%, down 0.12%. The implied volatility of the at - the - money call option for gold was 25.03%, up 0.07%; the implied volatility of the at - the - money put option was 25.02%, down 0.81% [2]. b. Industry News - The US Congress Senate failed to pass the federal government's temporary appropriation bill again, and the US federal government's "shutdown" has entered the 35th day, tying the longest record in US history. The two parties in Congress have been deadlocked, and the temporary appropriation bill proposed by the Republicans failed to pass in 13 votes in the Senate [2]. - There are signs that investor buying remains strong. In the third quarter, the holdings of gold exchange - traded funds (ETF) increased by about 222 tons, and the demand for gold bars and coins exceeded 300 tons for the fourth consecutive quarter, reaching 316 tons. Jewelry demand also exceeded expectations [2]. - According to CME's "FedWatch", the probability of the Fed cutting interest rates by 25 basis points in December is 70.1%, and the probability of keeping interest rates unchanged is 29.9%. By January next year, the probability of a cumulative 25 - basis - point interest - rate cut is 55.8%, the probability of keeping interest rates unchanged is 19.3%, and the probability of a cumulative 50 - basis - point cut is 24.8% [2]. c. Impact on the Market - The recent statements of Fed officials have shaken the expectation of a December interest - rate cut. The ISM manufacturing index in the US in October continued to decline, and tariff policies still suppress the manufacturing outlook. FOMC officials have different views on future interest - rate cuts. The weakening of the interest - rate cut expectation and the strengthening of the US dollar may resist the upward movement of gold prices. However, the ongoing US government shutdown and central bank gold - buying expectations provide bottom support for gold prices [2].

| | | 免责声明 本报告中的信息均来源于公开可获得资料，瑞达期货股份有限公司力求准确可靠，但对这些信息的准确性及完整性不做任 何保证，据此投资，责任自负。本报告不构成个人投资建议，客户应考虑本报告中的任何意见或建议是否符合其特定状况。本 报告版权仅为我公司所有，未经书面许可，任何机构和个人不得以任何形式翻版、复制和发布。如引用、刊发，需注明出处为 瑞达期货股份有限公司研究院，且不得对本报告进行有悖原意的引用、删节和修改。 烧碱产业日报 2025-11-05 | | 项目类别 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | | 主力收盘价:烧碱(日,元/吨) 期货市场 | 2303 | -33 烧碱主力合约持仓量(日,手) | 138392 | 10328 | | | 期货前20名净持仓:烧碱(日,手) | -14339 | 25 烧碱主力合约成交量(日,手) | 451353 | 197250 | | | 合约收盘价:烧碱:1月(日,元/吨) | 2303 | -33 合约收盘价:烧碱:5月(日,元/吨) | ...

塑料产业日报 2025-11-05 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 期货主力合约收盘价:聚乙烯(日,元/吨) | 6814 | -65 1月合约收盘价:聚乙烯(日,元/吨) | 6814 | -65 | | | 5月合约收盘价:聚乙烯(日,元/吨) | 6901 | -58 9月合约收盘价:聚乙烯(日,元/吨) | 6959 | -46 | | | 成交量(日,手) | 290462 | 60286 持仓量(日,手) | 553147 | 20008 | | | 1-5价差 | -87 | -7 期货前20名持仓:买单量:聚乙烯(日,手) | 463195 | 35493 | | | 期货前20名持仓:卖单量:聚乙烯(日,手) | 543722 | 38605 期货前20名持仓:净买单量:聚乙烯(日,手) | -80527 | -3112 | | 现货市场 | LLDPE(7042)均价:华北(日,元/吨) | 6921.3 | -30.43 LLDPE(7042)均 ...

工业硅产业日报 2025-11-05 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 主力合约收盘价(日,元/吨) | 9020 | 135 主力合约持仓量(日,手) | 232849 | -9304 | | | 前20名净持仓(日,手) | -42010 | 7199 广期所仓单(日,手) | 46195 | 372 | | | 12月合约收盘价:工业硅(日,元/吨) | -400 | 40 11-12月合约工业硅 | -400 | 40 | | 现货市场 | 通氧553#硅平均价(日,元/吨) | 9450 | 0 421#硅平均价(日,元/吨) | 9700 | 0 | | | Si主力合约基差(日,元/吨) | 430 | -135 DMC现货价(日,元/吨) | 11800 | 0 | | 上游情况 | 硅石平均价(日,元/吨) | 410 | 0 石油焦平均价(日,元/吨) | 2310 | 0 | | | 精煤平均价(日,元/吨) | 1850 | 0 木片平均价(日, ...

热轧卷板产业链日报 2025/11/5 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | HC 主力合约收盘价(元/吨) | 3,253 | -12↓ HC 主力合约持仓量(手) | 1373091 | -23039↓ | | | HC 合约前20名净持仓(手) | -77,490 | +7802↑ HC1-5合约价差(元/吨) | -7 | 0.00 | | | HC 上期所仓单日报(日，吨) | 130301 | 0.00 HC2601-RB2601合约价差(元/吨) | 229 | +8↑ | | 现货市场 | 杭州 4.75热轧板卷(元/吨) | 3,310.00 | -40.00↓ 广州 4.75热轧板卷(元/吨) | 3,270.00 | -10.00↓ | | | 武汉 4.75热轧板卷(元/吨) | 3,360.00 | -10.00↓ 天津 4.75热轧板卷(元/吨) | 3,200.00 | -10.00↓ | | | HC主力合约基差(元/吨) | 57.00 | ...

| 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | RB主力合约收盘价(元/吨) | 3,024.00 | -20↓ RB主力合约持仓量(手) | 2031781 | +65237↑ | | | RB合约前20名净持仓(手) | -137448 | -24396↓ RB1-5合约价差(元/吨) | -70 | -6↓ | | | RB上期所仓单日报(日，吨) | 140134 | -2708↓ HC2601-RB2601合约价差(元/吨) | 229 | +8↑ | | 现货市场 | 杭州 HRB400E 20MM(理计，元/吨) | 3,220.00 | -30↓ 杭州 HRB400E 20MM(过磅，元/吨) | 3,303 | -31↓ | | | 广州 HRB400E 20MM(理计，元/吨) | 3,290.00 | -20↓ 天津 HRB400E 20MM(理计，元/吨) | 3,180.00 | -10↓ | | | RB 主力合约基差 (元/吨) | 196.00 | - ...