瑞达期货研究院 「2026.02.13」 棉花（纱）市场周报 研究员：王翠冰 期货从业资格号F03139616 期货投资咨询从业证Z0021556 关 注 微信客 服 号 业务咨询 添加客服 目录 1、周度要点小结 2、期现市场 3、产业情况 4、期权及股市关联市场 行情展望：据美国农业部(USDA)报告显示，2月5日止当周，2025/26年度美国陆地 棉出口销售净增23.1万包，较前周减少8%，较前四周均值减少23%。2025/26年度 美国陆地棉出口装运量18.86万包，较前周减少20%，较前四周平均水平减少10%。 当周美国棉花出口签约量、装运量双双减少。国内市场：当前国产棉、进口棉等供 应充足，外棉入库明显增加，临近春节放假，下游备货减少。据Mysteel调研显示， 截至2月12日，进口棉主要港口库存周环比增加3.16%，总库存53.22万吨。内地纺 企普遍停机放假，发运基本暂停，疆内开机基本稳定，库存增加明显。不过市场普 遍存在植棉面积调减预期，对棉价形成有力支撑。考虑到当前长假在即，短期暂且 观望为主。 未来交易提示： 1、关注外棉价格变化2、需求3、库存情况 3 「 期现市场情况」 美棉市场 图 ...

瑞达期货研究院 「2026.02.13」 菜籽类市场周报 美豆上涨提振 菜粕价格有所上涨 研究员：许方莉 期货从业资格号F3073708 期货投资咨询从业证书号 Z0017638 联系电话：0595-86778969 关 注 我 们 获 取 更 多 资 讯 业 务 咨 询 添 加 客 服 目录 1、周度要点小结 2、期现市场 3、产业情况 4、期权市场分析 「 周度要点小结」 总结及策略建议 Ø 菜油： 3 Ø 行情回顾：本周菜油期货震荡收跌，05合约收盘价9038元/吨，较前一周-106元/吨。 Ø 行情展望：加拿大统计局发布的库存报告显示，截至2025年12月31日，油菜籽库存为1560万吨， 同比增长18.8%，牵制其市场价格。不过，中加贸易关系缓和预期较高，提振加菜籽出口预期， 且欧盟计划2030年前逐步淘汰豆棕油生物燃料，仅菜油计入配额，支撑菜籽市场。其它方面，美 国最新生物燃料税收抵免政策，边际利好美豆油消费，不过，马棕降库预期兑现后，本月出口数 据下滑，拖累棕榈油市场。国内方面，现阶段菜油维持去库模式，对其价格形成支撑，菜油基差 维持高位。不过，澳菜籽已投入压榨，供应端压力逐步增加，且当下市场预 ...

瑞达期货研究院 「2026.02.13」 贵金属市场周报 非农数据强劲增长，金银价格延续震荡 作者： 研究员 廖宏斌 期货投资咨询证号：Z0020723 联系电话：0595-86778969 取 更 多 资 讯 业务咨询 添加客服 关 注 我 们 获 目录 1、周度要点小结 2、期现市场 3、产业供需情况 4、宏观及期权 来源：瑞达期货研究院 3 「 期现市场」 非农数据意外录得大幅增长，贵金属市场本周震荡加剧 「 周度要点小结」 ◆ 行情回顾：本周，美国就业数据韧性削弱市场降息押注，地缘局势出现缓和迹象，全球贵金属市场震荡 加剧。宏观数据方面，市场围绕非农数据解读的分歧加剧，美国1月非农就业新增人数创去年4月以来最 大增幅，失业率意外下降，劳动参与率与薪资增速亦有提升，显示劳动力市场在经历疲弱一年后展现短 期韧性，但年度基准修正大幅下修2025年全年就业规模，大幅暴露去年统计失真与就业基础实则疲软的 态势。美国上周初请失业金人数回落5000人至22.7万人，前一周续请失业金人数增加2.1万人至186.2万， 市场预期185万人。美联储官员近期就降息的表态，核心仍锚定于通胀反弹风险与就业市场降温趋势之间 的权 ...

瑞达期货研究院 「2026.02.13」 铝类市场周报 假期临近需求回落，铝类或将震荡运行 研究员:陈思嘉 期货从业资格号 F03118799 期货投资咨询 从业证书号 Z0022803 关 注 我 们 获 取 更 多 资 讯 业务咨询 添加客服 目录 1、周度要点小结 2、期现市场 3、产业情况 4、期权市场分析 「 周度要点小结」 行情回顾：沪铝周线震荡回落，周涨跌幅-0.51%，报23195元/吨。氧化铝震荡走势，周涨跌+0.6%，报2841元/吨。 行情展望： 氧化铝：基本面原料端，几内亚雨季影响逐渐降低发运回升，国内土矿供给逐渐充足，土矿价格持稳运行。供给端，氧化铝 冶炼厂整体开工情况暂稳，因假期临近或有小幅下降，国内供给量总体持稳，库存偏高位，供应格局仍显偏多。需求端，电 解铝产新投产产能逐渐推升氧化铝需求，但由于行业产能上限原因，其增量有限，对原料消费大体持稳。整体来看，氧化铝 基本面或处于供给充足、需求持稳的阶段。 观点总结：氧化铝主力合约轻仓震荡交易，注意操作节奏及风险控制。 电解铝：基本面供给端，原料氧化铝报价低位运行，电解铝厂理论利润情况仍较好，加之其冶炼厂启停成本较高，生产开工 情况仍 ...

瑞达期货研究院 「2026.02.13」 鸡蛋市场周报 资金避险情绪升温 期价低位有所反弹 3 来源：瑞达期货研究院 关 注 我 们 获 业 务 咨 询 添 加 客 服 目录 1、周度要点小结 2、期现市场 3、产业情况 「 周度要点小结」 总结及策略建议 研究员：许方莉 期货从业资格号F3073708 期货投资咨询从业证书号 Z0017638 取 更 多 资 讯 联系电话：0595-86778969 Ø 鸡蛋： Ø 行情回顾：本周鸡蛋明显走强，2604合约收盘价为3251元/500千克，较前一周+86元/500千克。 Ø Ø 行情展望：前期补栏相对偏低，现阶段新增开产压力不大，蛋鸡存栏仍将处于下滑趋势中。不过， 当前蛋鸡在产存栏仍然处于高位，且节前备货进入尾声，走货平稳，供需相对平衡，养殖端盈利 尚可、挺价意愿较强。在利润向好支撑下，雏鸡补栏积极性提升而老鸡淘汰积极性略有放缓，弱 化存栏下滑预期。盘面来看，节前资金避险情绪升温，本周期价明显回弹，空仓过节。 「 期现市场情况」 期价走势及前二十名持仓 图1、大商所鸡蛋主力合约期货价格走势 图2、大商所鸡蛋指数期货前二十名持仓变化 来源：大商所 瑞达期货研究院 ...

1. Report Industry Investment Rating - No relevant information provided 2. Core View of the Report - It is expected that nickel prices will fluctuate and adjust, and stainless steel futures prices will also fluctuate and adjust [9] 3. Summary of Each Section 3.1 Week - to - Week Summary Nickel - **Weekly Review**: This week, the main contract of Shanghai nickel rose first and then fell, with a weekly gain of +2.54% and an amplitude of 7.33%. As of the end of this week, the closing price of the main contract was 135,190 yuan/ton [9] - **Market Outlook**: The US existing - home sales in January were lower than expected. The import of nickel ore in the Philippines is expected to decline due to the rainy season. Indonesia plans to cut the RKAB quota significantly next year, and the raw material supply is expected to shrink in the second quarter. The production quota of the world's largest nickel mine, Weda Bay Nickel Mine, will be significantly lower than that in 2025. The production of nickel iron in Indonesia remains high, and the amount flowing back to China is expected to increase. The domestic refined nickel production capacity is large, and the production profit has room for improvement, so the output of refined nickel is expected to rise again. The demand from stainless steel mills and the new - energy vehicle industry is increasing. Both domestic and overseas nickel inventories are increasing. Technically, the position is stable, and the market sentiment is flat [9] Stainless Steel - **Weekly Review**: This week, stainless steel rose first and then fell, with a weekly gain of +1.39% and an amplitude of 4.17%. As of the end of this week, the closing price of the main contract was 13,860 yuan/ton [9] - **Market Outlook**: The raw material supply of domestic nickel - iron plants is tightening, and nickel - iron production will face pressure to cut production. The production profit of stainless steel mills has improved, but the increase in nickel - iron prices has raised the cost. The end - of - year maintenance of steel mills increases, and the output growth is limited. The downstream demand is turning to the off - season, but the export volume remains high. As the Spring Festival approaches, the trading atmosphere calms down, and the social inventory of stainless steel begins to accumulate seasonally. Technically, the position decreases, and both long and short positions are cautious [9] 3.2 Futures and Spot Market Conditions Price Movement - As of February 13, the closing price of Shanghai nickel was 135,190 yuan/ton, up 3,350 yuan/ton from last week; the closing price of stainless steel was 13,860 yuan/ton, up 190 yuan/ton from last week [15] - As of February 13, the average price of nickel pig iron (1.5 - 1.7%) was 3,600 yuan/ton, unchanged from last week; the average price of nickel iron (7 - 10%) in the country was 1,045 yuan/nickel, up 5 yuan/nickel from last week [15] Basis - As of February 13, the spot price of electrolytic nickel was 140,100 yuan/ton, with a basis of 4,910 yuan/ton; the closing price of stainless steel was 14,650 yuan/ton, with a basis of 790 yuan/ton [20] Price Ratio - As of February 13, the price ratio of Shanghai nickel to stainless steel on the Shanghai Futures Exchange was 9.75, up 0.11 from last week; the price ratio of Shanghai tin to Shanghai nickel was 2.7 yuan/ton, down 0 from last week [27] Net Long Positions - As of February 12, 2026, the net long position of the top 20 in Shanghai nickel was - 52,531 lots, an increase of 6,355 lots from February 6, 2026. The net long position of the top 20 in stainless steel was - 3,583 lots, an increase of 956 lots from February 6, 2026 [31] 3.3 Industrial Chain Conditions Supply Side - **Nickel Ore Inventory and Production Profit**: As of February 6, the nickel ore inventory in major domestic ports was 1,108.53 million tons, a decrease of 63.81 million tons from last week. As of February 13, the production profit of electrowon nickel was - 7,000 yuan/ton, an increase of 4,600 yuan/ton from last week [39][40] - **Domestic Electrolytic Nickel Production and Import**: In December 2025, the electrolytic nickel production was 29,058 tons, a year - on - year decrease of 0.16%. In December 2025, the import volume of refined nickel and alloys was 23,861.23 tons, a year - on - year increase of 85.83%. From January to December, the cumulative import volume of refined nickel and alloys was 233,105.581 tons, a year - on - year increase of 133.4% [43] - **Exchange Inventories**: As of February 13, the Shanghai Futures Exchange nickel inventory was 58,775 tons, an increase of 1,318 tons from last week. As of February 13, the LME nickel inventory was 286,386 tons, an increase of 2,238 tons from last week [51] Demand Side - **Stainless Steel Production and Export**: In January 2026, the total output of stainless crude steel was 3.5364 million tons, a month - on - month increase of 8.46%. Among them, the output of 400 - series stainless steel was 645,200 tons, a month - on - month increase of 12.64%; the output of 300 - series stainless steel was 1.8581 million tons, a month - on - month increase of 6.35%; the output of 200 - series stainless steel was 1.0331 million tons, a month - on - month increase of 9.85%. In December 2025, the stainless steel import volume was 141,400 tons, a month - on - month increase of 32,300 tons; the export volume was 404,300 tons, a month - on - month increase of 71,300 tons. From January to February, the cumulative net import volume was - 2.7324 million tons, a year - on - year decrease of 262,900 tons [55] - **Regional Stainless Steel Inventory**: As of February 13, the stainless steel inventory in Foshan was 304,983 tons, an increase of 19,938 tons from last week; the stainless steel inventory in Wuxi was 531,769 tons, an increase of 15,626 tons from last week [60] - **Stainless Steel Production Profit**: As of February 13, the stainless steel production profit was 89 yuan/ton, a decrease of 8 yuan/ton from last week [64] - **Related Industries**: In 2025, the real estate industry showed a weak downward trend, with the new - construction area, completion area, and development investment all decreasing year - on - year. In December 2025, the output of air conditioners decreased year - on - year, while the output of household refrigerators and freezers increased year - on - year, and the output of washing machines decreased year - on - year. In January 2026, the production of new - energy vehicles was flat year - on - year, and the sales decreased year - on - year. In December 2025, the output of excavators and large - and medium - sized tractors increased year - on - year, while the output of small tractors decreased year - on - year [68][72]

1. Report Industry Investment Rating - No information provided in the report 2. Core Viewpoint of the Report - The report predicts that Shanghai zinc will undergo wide - range adjustments and face downward pressure. This is due to factors such as the macro - economic situation where US January existing - home sales were lower than expected, the upstream zinc ore situation with high imports but year - end domestic production cuts, refinery profit contractions, and the downstream market turning to the off - season with weakening demand in some sectors and only partial bright spots in others [4]. 3. Summary by Relevant Catalogs 3.1. Weekly Highlights Summary - **Market Performance**: This week, the main Shanghai zinc contract fluctuated and declined, with a weekly change of - 1.04% and an amplitude of 2.41%. As of the end of this week, the closing price of the main contract was 24,195 yuan/ton [4]. - **Market Outlook**: Macroeconomically, US January existing - home sales were 3.91 million, lower than the expected 4.15 million and the previous value of 4.35 million. Fundamentally, upstream zinc ore imports are at a high level, but domestic zinc ore production decreases at the end of the year. Refinery profits are shrinking, and production is expected to be limited. The export window may close again. Demand - side is turning to the off - season, with the real estate sector dragging down, and the infrastructure and home appliance sectors weakening. However, there are some policy - supported bright spots in the automotive field. Downstream procurement is mainly on - demand, and domestic social inventories have slightly increased [4]. - **Technical Analysis**: Open interest is stable while prices are adjusting, and trading between long and short positions has weakened [4]. 3.2. Futures and Spot Market - **Price Movement**: As of February 13, 2026, the closing price of Shanghai zinc was 24,195 yuan/ton, a decrease of 255 yuan/ton or 1.04% from February 6, 2026. As of February 12, 2026, the closing price of LME zinc was 3,381.5 US dollars/ton, an increase of 83 US dollars/ton or 2.52% from February 6, 2026 [7]. - **Net Position of Top 20**: As of February 13, 2026, the net position of the top 20 in Shanghai zinc was 9,275 lots, an increase of 2,040 lots from February 6, 2026. The open interest of Shanghai zinc was 178,440 lots, a decrease of 12,112 lots or 6.36% from February 6, 2026 [10]. - **Price Spreads**: As of February 13, 2026, the aluminum - zinc futures spread was 1,000 yuan/ton, a decrease of 135 yuan/ton from February 6, 2026. The lead - zinc futures spread was 7,495 yuan/ton, a decrease of 445 yuan/ton from February 6, 2026 [16][17]. - **Spot Premium**: As of February 13, 2026, the spot price of 0 zinc ingot was 24,330 yuan/ton, a decrease of 190 yuan/ton or 0.77% from February 6, 2026. The spot discount was 25 yuan/ton, the same as last week. As of February 12, 2026, the LME zinc near - month and 3 - month spread was - 28.69 US dollars/ton, a decrease of 7.94 US dollars/ton from February 5, 2026 [22]. - **Inventory**: As of February 12, 2026, LME refined zinc inventory was 103,500 tons, a decrease of 4,300 tons or 3.99% from February 5, 2026. As of February 13, 2026, SHFE refined zinc inventory was 87,025 tons, an increase of 16,336 tons or 23.11% from last week. As of February 12, 2026, domestic refined zinc social inventory was 138,000 tons, an increase of 19,500 tons or 16.46% from February 5, 2026 [25]. 3.3. Industry Situation - **Upstream - Zinc Ore**: In November 2025, global zinc ore production was 1.0627 million tons, a month - on - month decrease of 1.11% and a year - on - year increase of 2.39%. In December 2025, the import volume of zinc ore concentrates was 462,599.36 tons, a month - on - month decrease of 10.44% and a year - on - year increase of 1.15% [31]. - **Supply - Global Refined Zinc**: In November 2025, global refined zinc production was 1.1612 million tons, a year - on - year increase of 56,300 tons or 5.1%. Consumption was 1.1689 million tons, a year - on - year increase of 5,500 tons or 0.47%. The global refined zinc deficit was 7,700 tons, compared with a deficit of 58,500 tons in the same period last year. The WBMS report showed that the global zinc market supply - demand balance in November 2025 was 29,000 tons [36][37]. - **Supply - Refined Zinc Production**: In December 2025, zinc production was 675,000 tons, a year - on - year increase of 11%. From January to December 2025, the cumulative zinc output was 7.528 million tons, a year - on - year increase of 9.3% [40]. - **Supply - Refined Zinc Import and Export**: In December 2025, the import volume of refined zinc was 8,760.85 tons, a year - on - year decrease of 73.4%. The export volume was 27,266.66 tons, a year - on - year increase of 524.21% [43]. - **Downstream - Galvanized Sheet**: From January to December 2025, the inventory of galvanized sheets (strips) of major domestic enterprises was 1.0667 million tons, a year - on - year increase of 30.1%. In December 2025, the import volume of galvanized sheets (strips) was 31,800 tons, a year - on - year decrease of 43.22%. The export volume was 404,000 tons, a year - on - year increase of 45.95% [46][47]. - **Downstream - Real Estate**: From January to December 2025, the new housing construction area was 587.6996 million square meters, a year - on - year decrease of 20.47%. The housing completion area was 603.4813 million square meters, a year - on - year decrease of 23.9%. The funds in place for real estate development enterprises were 9.311716 trillion yuan, a year - on - year decrease of 13.4%. Personal mortgage loans were 1.285196 trillion yuan, a year - on - year decrease of 17.8% [52][53]. - **Downstream - Infrastructure Investment**: In December 2025, the real estate development climate index was 91.45, a decrease of 0.44 from the previous month and 1.1 from the same period last year. From January to December 2025, infrastructure investment decreased by 1.48% year - on - year [58][59]. - **Downstream - Home Appliances**: In December 2025, refrigerator production was 10.0115 million units, a year - on - year increase of 5.7%. From January to December 2025, the cumulative refrigerator production was 109.2436 million units, a year - on - year increase of 1.6%. In December 2025, air - conditioner production was 21.6289 million units, a year - on - year decrease of 9.6%. From January to December 2025, the cumulative air - conditioner production was 266.9749 million units, a year - on - year increase of 0.7% [61]. - **Downstream - Automobile**: In January 2026, China's automobile sales volume was 2.346 million units, a year - on - year decrease of 3.2%. The automobile production volume was 2.45 million units, a year - on - year increase of 0.02% [65].

农业气象周报 研究员：张昕 期货从业资格号F03109641 期货投资咨询从业证Z0018451 关 注 我 们 获 取 更 多 资 讯 业 务 咨 询 添 加 客 服 联系电话：0595-86778969 目录 1、周度重点气象 2、各农作物产区气象 瑞达期货研究院 「2026.02.13」 「 周度重点关注气象」 3 u 国内方面，国内多数农作物收获结束。天气利于油菜籽、冬麦作物生长。 u 国际方面，美豆大豆收获结束。南美大豆播种结束，处于生长期，巴西早播大豆开始收获。截至2月7日， 巴西25/26年度大豆灌浆率38.8%，成熟率25.6%，收获率17.4%。未来15天，巴西中西部大豆产区西部 降雨低于常值，东部降雨高于常值；大多数地区气温正常。东部降雨较多影响作物收获。未来15天，阿 根廷大豆产区布宜诺斯艾利斯省降雨低于常值，其他主要产区大多降雨高于常值。圣地亚哥-德尔埃斯 特罗省北部气温高于常值，其他地区气温正常。降雨增加有利于土壤墒情。未来15天欧洲关键产区降雨 高于常值，气温高于常值。印尼和马来西亚降雨较多，降雨高于常值，将影响棕榈果采摘。 u ENSO预测：1月至3月拉尼娜概率69%。2月至4月 ...

1. Report Industry Investment Rating - No relevant information provided 2. Core View of the Report - This week, the price of cis - butadiene rubber in the Shandong market continued to fluctuate weakly in a narrow range. As the Spring Festival approaches, the spot - end negotiation atmosphere becomes lighter, with the inventory of production and trading enterprises increasing. The capacity utilization rate of domestic tire enterprises has significantly declined, and it will be at the lowest point during the Spring Festival holiday [8]. - During the long holiday, attention should be paid to the external macro - situation, geopolitics, and crude oil prices [7]. 3. Summary According to the Catalog 3.1. Week - to - Week Summary - Strategy suggestion: Pay attention to the external macro - situation, geopolitics, and crude oil prices during the long holiday [7]. - Market review and outlook: The price of cis - butadiene rubber in the Shandong market fluctuated weakly. As the Spring Festival approaches, the spot - end negotiation is light, with inventory rising. The capacity utilization rate of tire enterprises has declined and will be at the lowest point during the holiday [8]. 3.2. Futures and Spot Markets 3.2.1. Futures Market - Price trend: The price of the synthetic rubber futures main contract fluctuated and closed down this week, with a weekly decline of 1.99% [12]. - Position analysis: No specific content provided. - Inter - delivery spread: As of February 13th, the 3 - 4 spread of butadiene rubber was - 85 [19]. - Warehouse receipts: As of February 12th, the cis - butadiene rubber warehouse receipts were 14,580 tons, an increase of 3,470 tons from last week [22]. 3.2.2. Spot Market - Spot price: As of February 12th, the price of Qilu Petrochemical BR9000 in the Shandong market was 12,500 yuan/ton, a decrease of 200 yuan/ton from last week [28]. - Basis: As of February 12th, the basis of butadiene rubber was - 215 yuan/ton, a decrease of 125 yuan/ton from last week [28]. 3.3. Industry Situation 3.3.1. Upstream - Naphtha and ethylene prices: As of February 12th, the CFR mid - price of naphtha in Japan was reported at $612.13/ton, an increase of $9.5/ton from last week; the CIF mid - price of Northeast Asian ethylene was reported at $690/ton, unchanged from last week [31]. - Butadiene capacity utilization rate and port inventory: As of February 13th, the weekly capacity utilization rate of butadiene was 74.55%, an increase of 1.43% from last week; the port inventory was 36,600 tons, a decrease of 1,800 tons from last week [34]. 3.3.2. Industry - Production and capacity utilization rate: In January 2026, the production of cis - butadiene rubber was 149,900 tons, an increase of 6,300 tons from the previous month, a month - on - month increase of 4.41% and a year - on - year increase of 15.45%. As of February 12th, the weekly capacity utilization rate of domestic cis - butadiene rubber was 79.63%, an increase of 0.77% from last week [37]. - Production profit: As of February 12th, the production profit of domestic cis - butadiene rubber was - 768 yuan/ton, a decrease of 286 yuan/ton from last week [40]. - Inventory: As of February 13th, the social inventory of domestic cis - butadiene rubber was 33,910 tons, an increase of 780 tons from last week; the manufacturer's inventory was 27,800 tons, an increase of 700 tons from last week; the trader's inventory was 6,110 tons, an increase of 80 tons from last week [45]. 3.3.3. Downstream - Tire capacity utilization rate: As of February 12th, the capacity utilization rate of Chinese semi - steel tire sample enterprises was 56.40%, a month - on - month decrease of 15.69 percentage points and a year - on - year decrease of 8.88 percentage points; the capacity utilization rate of all - steel tire sample enterprises was 40.55%, a month - on - month decrease of 19.90 percentage points and a year - on - year decrease of 13.74 percentage points [48]. - Tire exports: In December 2025, China's tire export volume was 698,500 tons, a month - on - month increase of 1.48% and a year - on - year increase of 1.94%. From January to December, the cumulative tire export volume was 8,430,700 tons, a cumulative year - on - year increase of 3.38% [51]. 3.4. Options Market Analysis - No relevant information provided

瑞达期货研究院 「2026.2.13」 热轧卷板市场周报 市场情绪低迷 热卷期价震荡偏弱 添加客服 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 取 更 多 资 讯 业务咨询 关 注 我 们 获 目录 1、周度要点小结 2、期现市场 3、产业情况 「周度要点小结1」 行情回顾 3 来源：瑞达期货研究院 1. 价格：截至2月13日收盘，热卷主力合约期价为3222（-29），杭州涟钢热卷现货价格为3270（-10）。（单位： 元/吨/周） 2. 产量：热卷产量下调。307.76（-1.4），（同比-21.17）。（单位：万吨） 3. 需求：表观需求下滑。本期表需296.19（-9.35），（同比-26.69）。（单位：万吨） 4. 库存：厂库+社库增加。总库存370.77（+11.57），（同比-58.88）。（单位：万吨） 5. 盈利率：钢厂盈利率38.53%，环比上周减少0.86个百分点，同比去年减少12.12个百分点。 「 周度要点小结2」 行情展望 维持在78%附近；春节假期到来，表观需求继续下滑，库存增幅扩大。同时，成本端支撑减弱。观点参考，HC2605合约考虑 ...