铂钯金期货日报 2025/12/18 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。 | 项目类别 | 数据指标 环比 数据指标 最新 | 最新 | | | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 铂金主力合约收盘价（日，元/克） 27.40↑ 钯金主力合约收盘价（日，元/克） 476.60 | 542.60 | | | +31.15↑ | | | 主力合约持仓量:铂金(日,手) 3179.00 | 10387.00 | -277.00↓ 主力合约持仓量:钯金(日,手) | | +90.00↑ | | 现货市场 | 上金所铂金现货价（Pt9995） 13.76↑ 长江钯金现货价 390.00 ...

| 数据指标 项目类别 | | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 沪铝主力合约收盘价(日,元/吨) | | 21,955.00 | +40.00↑ 氧化铝期货主力合约收盘价(日,元/吨) | 2,553.00 | -5.00↓ | | | 主力-连二合约价差:沪铝(日,元/吨) 主力合约持仓量:沪铝(日,手) | -105.00 294,165.00 | -10.00↓ 主力-连二合约价差:氧化铝(日,元/吨) +175.00↑ 主力合约持仓量:氧化铝(日,手) | -128.00 170,112.00 | -10.00↓ -10314.00↓ | | | LME铝注销仓单(日,吨) | 73,675.00 | 0.00 库存:氧化铝:合计(周,万吨) | 258,836.00 | -1119.00↓ | | 期货市场 | LME电解铝三个月报价（日，美元/吨） 沪铝前20名净持仓（日，手） | 2,905.50 -99.00 | +23.00↑ LME铝库存（日，吨） +467.00↑ 沪伦比值 | 519,60 ...

| 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | | 期货主力合约收盘价:沪铜(日,元/吨) | 92,600.00 | -220.00↓ LME3个月铜(日,美元/吨) | 11,735.00 | -2.00↓ | | 期货市场 | 主力合约隔月价差(日,元/吨) | -60.00 | +10.00↑ 主力合约持仓量:沪铜(日,手) | 231,253.00 | +7279.00↑ | | | 期货前20名持仓:沪铜(日,手) | -33,302.00 | -996.00↓ LME铜:库存(日,吨) | 166,925.00 | +325.00↑ | | | 上期所库存:阴极铜(周,吨) | 89,389.00 | +484.00↑ LME铜:注销仓单(日,吨) | 64,450.00 | +50.00↑ | | | 上期所仓单:阴极铜(日,吨) | 44,650.00 | -2856.00↓ | | | | | SMM1#铜现货(日,元/吨) | 92,240.00 | +95.00↑ 长江有色 ...

少2.9万吨。云南开榨糖厂已达29家，同比增加10家，糖厂开榨数量过半。总体上，新榨季压榨渐入高峰， 研究员: 王翠冰 期货从业资格号F03139616 期货投资咨询从业证书号Z0021556 供应持续增加，现货价格走弱，缺乏利多驱动，预计后市糖价低位震荡运行为主。 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。 白糖产业日报 2025-12-18 | 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:白糖(日,元/吨) | 5102 | -37 主力合约持仓量:白糖(日,手) | 518010 | 300 ...

研究员: 张昕 期货从业资格号F03109641 期货投资咨询从业证书号Z0018457 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。 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货盘面 | 期货主力合约收盘价:生猪(日,元/吨) | 11325 | -110 主力合约持仓量:生猪(日,手) | 165734 | -1647 | | | 仓单数量:生猪(日,手) | 823 | 0 期货前20名持仓:净买单量:生猪(日,手) | -46138 | -91 | | 现货价格 | 生猪价 河南 驻马店(日,元/吨) | 12000 ...

数据来源第三方，观点仅供参考。市场有风险，投资需谨慎！ 研究员: 徐玉花 期货从业资格号F03132080 期货投资咨询从业证书号 Z0021386 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。 锰硅硅铁产业日报 2025/12/18 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | SM主力合约收盘价（日，元/吨） | 5,780.00 | +22.00↑ SF主力合约收盘价（日，元/吨） | 5,592.00 | +46.00↑ | | | SM期货合约持仓量（日，手） | 573,238.00 | - ...

| 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | | JM主力合约收盘价（日，元/吨） | 1126.50 | +64.50↑ J主力合约收盘价（日，元/吨） | 1603.50 | +73.00↑ | | 期货市场 | JM期货合约持仓量（日，手） | 703005.00 | -5489.00↓ J期货合约持仓量（日，手） | 38997.00 | -2591.00↓ | | | 焦煤前20名合约净持仓（日，手） | -39347.00 | +10104.00↑ 焦炭前20名合约净持仓（日，手） | 48.00 | -701.00↓ | | | JM5-1月合约价差（日，元/吨） | 110.50 | +19.00↑ J5-1月合约价差（日，元/吨） | 139.50 | +6.50↑ | | | 焦煤仓单（日，张） | 0.00 | -200.00↓ 焦炭仓单（日，张） | 2070.00 | 0.00 | | | 干其毛都蒙5原煤（日，元/吨） | 919.00 | -51.00↓ 唐山一级冶 ...

碳酸锂产业日报 2025/12/18 | 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） | 106,160.00 | -2460.00↓ 前20名净持仓（日，手） | -155,228.00 | +22622.00↑ | | | 主力合约持仓量（日，手） | 672,711.00 | +4122.00↑ 近远月合约价差（日，元/吨） | -1,680.00 | -280.00↓ | | | 广期所仓单（日，手/吨） | 15,636.00 | 0.00 | | | | 现货市场 | 电池级碳酸锂平均价（日，元/吨） | 97,550.00 | +500.00↑ 工业级碳酸锂平均价（日，万元/吨） | 94,950.00 | +500.00↑ | | | Li₂CO₃主力合约基差（日，元/吨） | -8,610.00 | +2960.00↑ | | | | 上游情况 | 锂辉石精矿(6%CIF中国)平均价（日，美元/吨） | 1,300.00 | +70.0 ...

| 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | | IF主力合约（2512） | 4578.2 | +83.6↑ IF次主力合约（2603） | 4532.0 | +84.2↑ | | | IH主力合约（2512） IC主力合约（2512） | 2987.2 7146.8 | +42.2↑ IH次主力合约（2603） +141.4↑ IC次主力合约（2603） | 2980.6 6996.0 | +43.2↑ +161.8↑ | | | IM主力合约（2512） | 7295.0 | +110.8↑ IM次主力合约（2603） | 7074.0 | +120.4↑ | | 期货盘面 | IF-IH当月合约价差 | 1591.0 | +43.0↑ IC-IF当月合约价差 | 2568.6 | +57.8↑ | | | IM-IC当月合约价差 | 148.2 | -30.6↓ IC-IH当月合约价差 | 4159.6 | +100.8↑ | | | IM-IF当月合约价差 | 2716.8 | +27 ...

Report Summary 1. Report Industry Investment Rating - Not provided in the content 2. Core Viewpoints - Supply is abundant and production profits are high, but downstream price - pressing is firm, resulting in high pressure on spot market sales. It is expected that the inventories of both production enterprises and trading enterprises will increase slightly in the short term [2]. - The resumption of production by previously - shut - down enterprises drove the week - on - week increase in the capacity utilization rate of domestic tire enterprises last week. Entering the seasonal off - season, the overall shipment rhythm of enterprises is slow, and most enterprises are in a state of flexible production control, limiting the increase in the overall capacity utilization rate. As the finished product inventory continues to rise, some enterprises may conduct maintenance or reduce production in the later stage [2]. - The short - term forecast for the br2602 contract is to fluctuate in the range of 10,600 - 11,300 [2]. 3. Summary by Relevant Catalogs 3.1 Futures Market - The closing price of the main contract of synthetic rubber is 11,160 yuan/ton, with a week - on - week increase of 230 yuan/ton; the position of the main contract is 105,416, with a week - on - week increase of 4,360 [2]. - The synthetic rubber 2 - 3 spread is - 10 yuan/ton, with a week - on - week increase of 15 yuan/ton; the total warehouse receipt quantity of butadiene rubber is 4,560 tons, with no change [2]. 3.2 Spot Market - The mainstream price of BR9000 cis - butadiene rubber from Qilu Petrochemical in Shandong is 10,750 yuan/ton, unchanged; that from Daqing Petrochemical in Shandong is 10,700 yuan/ton, unchanged; that from Daqing Petrochemical in Shanghai is 10,750 yuan/ton, unchanged; and that from Maoming Petrochemical in Guangdong is 10,950 yuan/ton, unchanged [2]. - The basis of synthetic rubber is - 130 yuan/ton, with a week - on - week decrease of 35 yuan/ton [2]. 3.3 Upstream Situation - Brent crude oil is at 58.92 US dollars/barrel, down 1.64 US dollars; WTI crude oil is at 55.27 US dollars/barrel, down 1.55 US dollars [2]. - Naphtha CFR Japan is at 535.63 US dollars/ton, down 10.12 US dollars/ton; the Northeast Asian ethylene price is 745 US dollars/ton, unchanged; the CFR China butadiene price is 870 US dollars/ton, unchanged; the mainstream price of butadiene in the Shandong market is 7,850 yuan/ton, down 90 yuan/ton [2]. - The weekly capacity of butadiene is 15.93 tons, unchanged; the weekly capacity utilization rate is 71.17%, up 0.77 percentage points [2]. - The port inventory of butadiene is 35,900 tons, down 5,200 tons; the operating rate of Shandong local refinery atmospheric and vacuum distillation units is 55.9%, down 0.21 percentage points [2]. - The monthly output of cis - butadiene rubber is 13.01 tons, down 0.75 tons; the weekly capacity utilization rate is 70.69%, down 2.84 percentage points; the weekly production profit is 349 yuan/ton, down 135 yuan/ton [2]. - The weekly social inventory of cis - butadiene rubber is 3.2 tons, down 0.03 tons; the weekly manufacturer inventory is 26,500 tons, down 600 tons; the weekly trader inventory is 5,450 tons, up 220 tons [2]. - The weekly operating rate of domestic semi - steel tires is 71.57%, up 0.65 percentage points; the weekly operating rate of domestic all - steel tires is 64.07%, up 0.57 percentage points [2]. 3.4 Downstream Situation - The monthly output of all - steel tires is 1.301 million pieces, up 59,000 pieces; the monthly output of semi - steel tires is 5.831 million pieces, up 663,000 pieces [2]. - The inventory days of all - steel tires in Shandong are 40.58 days, up 1.07 days; the inventory days of semi - steel tires in Shandong are 45.51 days, up 0.56 days [2]. 3.5 Industry News - As of December 11, the capacity utilization rate of Chinese semi - steel tire sample enterprises was 70.14%, up 1.81 percentage points week - on - week and down 8.49 percentage points year - on - year; the capacity utilization rate of Chinese all - steel tire sample enterprises was 64.55%, up 0.55 percentage points week - on - week and up 6.07 percentage points year - on - year. The resumption of production by previously - shut - down enterprises drove the capacity utilization rate [2]. - In November, the domestic cis - butadiene rubber output was 13.01 tons, a month - on - month decrease of 0.75 tons (- 5.44%) and a year - on - year increase of 8.43%. The capacity utilization rate was 68.13%, a month - on - month decrease of 3.27 percentage points and a year - on - year increase of 0.53 percentage points [2]. - As of December 11, the domestic cis - butadiene rubber inventory was 3.20 tons, a decrease of 0.03 tons (- 1.18%) from the previous period. The inventory of some previously - shut - down production enterprises decreased significantly last week, but most production enterprises still faced high shipment pressure, and the overall inventory of production enterprises decreased slightly. Due to the continued price - pressing by downstream terminals, the shipment of traders was slow, and the inventory of trading enterprises increased slightly [2].