| | | 沪锡产业日报 2025-12-08 | 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:沪锡(日,元/吨) | 319200 | 1700 1月-2月合约收盘价:沪锡(日,元/吨) | -610 | 40 | | | LME3个月锡(日,美元/吨) | 40175 | -365 主力合约持仓量:沪锡(日,手) | 48471 | -2317 | | | 期货前20名净持仓:沪锡(日,手) | -420 | -86 LME锡:总库存(日,吨) | 3085 | -90 | | | 上期所库存:锡(周,吨) | 6865 | 506 LME锡:注销仓单(日,吨) | 295 | -65 | | | 上期所仓单:锡(日,吨) | 7266 | 583 | | | | 现货市场 | SMM1#锡现货价格(日,元/吨) | 314000 | -800 长江有色市场1#锡现货价(日,元/吨) | 313290 | -1120 | | | 沪锡主力合约基差(日,元/吨) ...

1. Report Industry Investment Rating - No relevant information provided 2. Core Viewpoints of the Report - The report predicts that Shanghai nickel will experience short - term shock adjustments, and investors should pay attention to the resistance level at 119,000 [3] - On the macro - front, the US September core PCE index increase is in line with expectations, actual personal spending is stagnant, and consumer short - term inflation expectations have dropped to the lowest point at the beginning of the year. On the fundamental side, nickel ore imports are on a downward trend due to the rainy season in the Philippines. The RKAB approval and possible export policy changes in Indonesia have limited actual impact on supply recently. The smelting end has a large supply pressure in the pure nickel market, while the demand end shows an upward trend [3] 3. Summary by Relevant Catalogs 3.1 Futures Market - The closing price of the main futures contract of Shanghai nickel is 118,030 yuan/ton, with a daily increase of 240; the price difference between the 01 - 02 contracts of Shanghai nickel is - 170 yuan/ton, with a daily decrease of 10 [3] - The price of LME 3 - month nickel is 14,970 US dollars/ton, with a daily increase of 85; the position of the main contract of Shanghai nickel is 111,585 lots, with a daily decrease of 6,051 [3] - The net buy volume of the top 20 futures positions of Shanghai nickel is - 26,832 lots, with a daily increase of 797; the LME nickel inventory is 253,116 tons, with no change [3] - The inventory of nickel in the Shanghai Futures Exchange is 42,508 tons (weekly), with an increase of 1,726 tons; the total cancelled warrants of LME nickel is 8,622 tons, with an increase of 6 tons [3] - The warehouse receipt quantity of Shanghai nickel is 34,500 tons, with a daily decrease of 264 tons [3] 3.2 Spot Market - The SMM 1 nickel spot price is 120,200 yuan/ton, with a daily increase of 150; the average spot price of 1 nickel plates in the Yangtze River is 120,200 yuan/ton, with a daily increase of 50 [3] - The CIF (bill of lading) price of Shanghai electrolytic nickel is 85 US dollars/ton, with no change; the bonded warehouse (warehouse receipt) price of Shanghai electrolytic nickel is 85 US dollars/ton, with no change [3] - The average price of battery - grade nickel sulfate is 27,500 yuan/ton, with no change; the basis of the NI main contract is 2,170 yuan/ton, with a daily decrease of 90 [3] - The LME nickel (spot/three - month) premium is - 190.98 US dollars/ton, with an increase of 0.28 US dollars/ton [3] 3.3 Upstream Situation - The monthly import volume of nickel ore is 468.28 million tons, with a decrease of 143.17 million tons; the total port inventory of nickel ore is 1,469.71 million tons (weekly), with a decrease of 17.62 million tons [3] - The average monthly import unit price of nickel ore is 57.33 US dollars/ton, with an increase of 0.61 US dollars/ton; the含税 price of Indonesian laterite nickel ore with 1.8% Ni is 41.71 US dollars/wet ton, with no change [3] 3.4 Industry Situation - The monthly output of electrolytic nickel is 29,430 tons, with an increase of 1,120 tons; the total monthly output of ferronickel is 2.29 million metal tons, with an increase of 0.12 million metal tons [3] - The monthly import volume of refined nickel and alloys is 9,939.65 tons, with a decrease of 18,631.22 tons; the monthly import volume of ferronickel is 90.51 million tons, with a decrease of 18.02 million tons [3] 3.5 Downstream Situation - The monthly output of 300 - series stainless steel is 180 million tons, with an increase of 3.73 million tons; the total weekly inventory of 300 - series stainless steel is 58.53 million tons, with a decrease of 1.23 million tons [3] 3.6 Industry News - The US September core PCE price index increased by 2.8% year - on - year and 0.2% month - on - month, in line with market expectations. The actual personal consumption expenditure in September was unexpectedly flat month - on - month. The one - year inflation expectation of the University of Michigan in December dropped to 4.1%, and the five - year inflation expectation dropped to 3.2% [3] - Minister of Commerce Wang Wentao stated that during the 15th Five - Year Plan period, China will implement a special action to boost consumption, expand and upgrade commodity consumption, and increase inclusive policies for consumers. It will also expand service consumption and promote trade innovation and two - way investment cooperation [3] - Minister of Industry and Information Technology Li Lecheng emphasized promoting the stable growth of the industrial economy, comprehensively deepening reforms, and ensuring the security of key industrial chains and supply chains [3] - US Treasury Secretary Janet Yellen said that the US GDP growth rate will reach 3% this year, and the inflation rate is expected to drop significantly next year [3]

| | | | 集运指数（欧线）期货日报 | | 2025/12/8 | | --- | --- | --- | --- | --- | --- | | 项目类别 | 数据指标 环比 数据指标 最新 | 最新 | | | 环比 | | | EC主力收盘价 1.2↑ EC次主力收盘价 | 1615.300 | | 1077.7 | -21.10↓ | | 期货盘面 | EC2602-EC2604价差 +0.00↑ EC2602-EC2606价差 | 517.00 | | 357.40 | +0.00↑ | | | EC合约基差 | -100.80 | +25.45↑ | | | | 期货持仓头寸（手） EC主力持仓量 | -749↓ | 31466 | | | | | | SCFIS（欧线）（周） 25.45↑ SCFIS（美西线）（周） | 1509.10 | | 960.51 | 11.74↑ | | | SCFI（综合指数）（周） -5.50↓ 集装箱船运力（万标准箱） | 1397.63 | | 1,227.97 | 0.00↑ | | 现货价格 | CCFI（综合指数）（周） -6.91↓ CCFI（ ...

| 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) | 3,123.00 | -34↓ RB主力合约持仓量(手) | 1477577 | +3036↑ | | | RB合约前20名净持仓(手) | -41726 | +5599↑ RB1-5合约价差(元/吨) | -6 | +14↑ | | | RB上期所仓单日报(日，吨) | 68176 | +2135↑ HC2605-RB2605合约价差(元/吨) | 168 | +5↑ | | 现货市场 | 杭州 HRB400E 20MM(理计，元/吨) | 3,310.00 | -20↓ 杭州 HRB400E 20MM(过磅，元/吨) | 3,395 | -21↓ | | | 广州 HRB400E 20MM(理计，元/吨) | 3,540.00 | 0.00 天津 HRB400E 20MM(理计，元/吨) | 3,190.00 | -10↓ | | | RB 主力合约基差 (元/吨) | 187.00 | +14↑ ...

免责声明 数据来源第三方，观点仅供参考。市场有风险，投资需谨慎！ 备注：I：铁矿石 研究员: 蔡跃辉 期货从业资格号F0251444 期货投资咨询从业证书号Z0013101 铁矿石产业链日报 2025/12/8 | 项目类别 数据指标 | | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | I 主力合约收盘价（元/吨） | 760.50 | -8.50↓ I 主力合约持仓量(手) | 429,369 | +20646↑ | | | I 1-5合约价差（元/吨） | 18 | +1.50↑ I 合约前20名净持仓(手) | 8867 | -3297↓ | | | I 大商所仓单（手） | 1,800.00 | +500.00↑ | | | | | 新加坡铁矿石主力合约截止15：00报价(美元/吨) | 102.05 | -1.34↓ | | | | 现货市场 | 青岛港61.5%PB粉矿 (元/干吨) | 855 | -3↓ 青岛港60.8%麦克粉矿 (元/干吨) | 845 | -5↓ | | | 京唐港56.5% ...

股指期货全景日报 2025/12/8 | 项目类别 | 数据指标 IF主力合约（2512） | 最新 4613.2 | 环比 数据指标 +35.0↑ IF次主力合约（2603） | 最新 4576.0 | 环比 +36.4↑ | | --- | --- | --- | --- | --- | --- | | | IH主力合约（2512） | 3015.0 | +11.6↑ IH次主力合约（2603） | 3006.0 | +12.2↑ | | | IC主力合约（2512） | 7144.0 | +67.4↑ IC次主力合约（2603） | 6972.8 | +71.0↑ | | | IM主力合约（2512） | 7380.4 | +69.0↑ IM次主力合约（2603） | 7145.8 | +68.6↑ | | | IF-IH当月合约价差 | 1598.2 | +21.2↑ IC-IF当月合约价差 | 2530.8 | +22.0↑ | | 期货盘面 | IM-IC当月合约价差 | 236.4 | -0.2↓ IC-IH当月合约价差 | 4129.0 | +43.2↑ | | | IM-IF当月合约价差 | ...

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， ，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 达研究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。 铝类产业日报 2025/12/8 | 数据指标 | 最新 | 环比 | 数据指标 | 最新 | 环比 | 项目类别 | 沪铝主力合约收盘价(日,元/吨) | 22,275.00 | -70.00↓ 氧化铝期货主力合约收盘价(日,元/吨) | 2,585.00 | +30.00↑ | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 主力-连二合约价差:沪铝(日,元/吨) | -100.00 | -30.00↓ 主力-连二合约价差:氧化铝(日,元/吨) | -63.00 | -20.00↓ | 主力合约 ...

贵金属期货日报 2025/12/8 研究员： 廖宏斌 期货从业资格号F30825507 期货投资咨询从业证书号Z0020723 | 项目类别 | 数据指标 最新 | 最新 | 环比 数据指标 | | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 沪金主力合约收盘价（日，元/克） 13706 | 958.700 | -2.3↓ 沪银主力合约收盘价（日，元/千克） | | +19.00↑ | | | 主力合约持仓量:沪金(日,手) | 197,193.00 | +240.00↑ 主力合约持仓量:沪银(日,手) | 20,186.00 | -5376.00↓ | | | 主力合约成交量:沪金 | 298,231.00 | +60534.00↑ 主力合约成交量:沪银 | 2,033,731.00 | +329517.00↑ | | | 仓单数量:沪金(日,千克) | 91299 | 0↑ 仓单数量:沪银(日,千克) | 699,291 | 11335↑ | | 现货市场 | 上金所黄金现货价 | 954.10 | -2.40↓ 华通一号白银现货价 | 13,5 ...

Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Report's Core View - On December 8, the manganese - silicon 2603 contract was reported at 5736, down 0.42%. Fundamentally, inventory is rising rapidly, production continues to decline slightly at a high level, and inventory has increased for 10 consecutive weeks. Technically, the daily K - line is between the 20 and 60 - day moving averages, and the short - term trend is expected to be volatile. [2] - On December 8, the ferrosilicon 2603 contract was reported at 5444, down 0.69%. In terms of supply and demand, market transactions are mainly for terminal rigid - demand restocking, and inventory is at a neutral level. Technically, the daily K - line is below the 20 and 60 - day moving averages, and the short - term trend is expected to be weakly volatile. [2] Group 3: Summary According to Related Catalogs Futures Market - The closing price of the SM main contract was 5,736.00 yuan/ton, down 22.00; the closing price of the SF main contract was 5,444.00 yuan/ton, down 30.00. [2] - The SM futures contract holdings were 630,635.00 hands, down 2347.00; the SF futures contract holdings were 470,877.00 hands, up 9618.00. [2] - The net holdings of the top 20 in manganese - silicon were - 26,105.00 hands, up 9574.00; the net holdings of the top 20 in ferrosilicon were - 24,866.00 hands, up 4937.00. [2] - The SM 5 - 1 month contract spread was 48.00 yuan/ton, down 2.00; the SF 5 - 1 month contract spread was 24.00 yuan/ton, down 10.00. [2] - The SM warehouse receipts were 24,528.00, up 3321.00; the SF warehouse receipts were 13,368.00, down 220.00. [2] Spot Market - The price of Inner Mongolia manganese - silicon FeMn68Si18 was 5,500.00 yuan/ton, down 20.00; the price of Guizhou manganese - silicon FeMn68Si18 was 5520.00 yuan/ton, down 20.00. The price of Inner Mongolia ferrosilicon FeSi75 - B was 5,260.00 yuan/ton, down 20.00; the price of Qinghai ferrosilicon FeSi75 - B was 5,160.00 yuan/ton, down 20.00. The price of Yunnan manganese - silicon FeMn68Si18 was 5550.00 yuan/ton, unchanged. The price of Ningxia ferrosilicon FeSi75 - B was 5,200.00 yuan/ton, down 30.00. [2] - The weekly average of the manganese - silicon index was 5531.00 yuan/ton, up 32.00; the SF main contract basis was - 244.00 yuan/ton, unchanged. The SM main contract basis was - 236.00 yuan/ton, up 2.00. [2] Upstream Situation - The price of South African Mn38 lump ore at Tianjin Port was 32.00 yuan/ton degree, unchanged; the price of silica (98% in the northwest) was 210.00 yuan/ton, unchanged. [2] - The price of Inner Mongolia Wuhai secondary metallurgical coke was 1250.00 yuan/ton, unchanged; the price of semi - coke (medium grade in Shenmu) was 870.00 yuan/ton, unchanged. [2] - The manganese ore port inventory was 451.30 million tons, up 13.00 million tons. [2] Industry Situation - The weekly start - up rate of manganese - silicon enterprises was 36.71%, down 1.38; the weekly start - up rate of ferrosilicon enterprises was 33.80%, up 0.39. [2] - The weekly supply of manganese - silicon was 187,950.00 tons, down 6825.00 tons; the weekly supply of ferrosilicon was 108,800.00 tons, up 1600.00 tons. [2] - The semi - monthly inventory of manganese - silicon manufacturers was 375,500.00 tons, up 7500.00 tons; the semi - monthly inventory of ferrosilicon manufacturers was 72,640.00 tons, up 810.00 tons. [2] - The monthly inventory days of manganese - silicon in national steel mills was 15.84, up 0.14; the monthly inventory days of ferrosilicon in national steel mills was 15.80, up 0.13. [2] - The weekly demand for manganese - silicon in the five major steel types was 116,591.00 tons, down 5136.00 tons; the weekly demand for ferrosilicon in the five major steel types was 18,766.10 tons, down 893.90 tons. [2] Downstream Situation - The weekly start - up rate of blast furnaces in 247 steel mills was 80.14%, down 0.93; the weekly capacity utilization rate of blast furnaces in 247 steel mills was 87.06%, down 0.90. [2] - The monthly crude steel output was 7199.70 million tons, down 149.31 million tons. [2] Industry News - The real - estate market is in the transition from building houses to filling houses with people, industries, and business forms. The "price anchor" of real estate is returning from the financial yield under the investment attribute to the use value of property space under the residential attribute. [2] - In November, the railway department transported 184 million tons of coal, a year - on - year increase of 0.3%, including 128 million tons of thermal coal. [2] - In November, China imported 4405.3 million tons of coal and lignite, a month - on - month increase of 5.5%. From January to November, the cumulative import was 43167.6 million tons, a year - on - year decrease of 12.0%. [2] - In November 2025, China exported 998.0 million tons of steel, a month - on - month increase of 2.0%. From January to November, the cumulative export was 10771.7 million tons, a year - on - year increase of 6.7%. [2] Viewpoint Summary - Manganese - silicon: The Inner Mongolia spot profit was - 285 yuan/ton; the Ningxia spot profit was 370 yuan/ton. The final price of silicon - manganese in Hebei Iron and Steel Group in November was 5820 yuan/ton, unchanged from the previous month. [2] - Ferrosilicon: The Inner Mongolia spot profit was - 270 yuan/ton; the Ningxia spot profit was 565 yuan/ton. The tender price of 75B ferrosilicon in Hebei Iron and Steel in November was 5680 yuan/ton, up 20 yuan/ton from the previous round. [2]

碳酸锂产业日报 2025/12/8 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 达研究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。 | 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） | 94,840.00 | +2680.00↑ 前20名净持仓（日，手） | -167,807.00 | -7199.00↓ | | | 主力合约持仓量（日，手） | 593,129.00 | +32453.00↑ 近远月合约价差（日，元/吨） | -540.00 | -200.00↓ | | | 广期所仓单（日，手/吨） | 13,120.00 | + ...