每日期货全景复盘9.3：印标结果出炉后市场题材暂时欠缺，尿素市场再次承压

Market Overview - The main contracts showed a bearish sentiment with 23 contracts rising and 56 contracts falling, indicating a concentration of trading activity in declining varieties [2] - The most significant increases were seen in egg futures (+2.62%) and gold futures (+1.33%), while lithium carbonate futures experienced the largest drop (-3.07%) [5][6] Capital Flow - The highest capital inflows were observed in gold futures (1.255 billion yuan) and copper futures (1.046 billion yuan), indicating strong interest from major funds [8] - Conversely, significant capital outflows were noted in the CSI 300 index (-3.425 billion yuan) and the CSI 500 index (-3.333 billion yuan), suggesting a withdrawal of funds from these products [8] Position Changes - Notable increases in open interest were recorded for rice futures (+25.82%) and international copper futures (+12.07%), indicating new funds entering the market [11] - Significant decreases in open interest were observed in the Shanghai Composite index (-9.95%) and asphalt futures (-12.07%), suggesting a withdrawal of major funds [11] Key Events - Methanol port inventory increased by 128,400 tons to a total of 1.4277 million tons, with significant accumulation in East China [12] - Gold prices reached new highs driven by market risk aversion, with the U.S. 30-year Treasury yield approaching the psychological level of 5% [12][13] Industry Insights - The Mongolian ETT company's auction of 32,000 tons of coking coal failed to attract buyers, reflecting a tight supply situation but weak demand due to low prices [14] - Shanying Paper's six major bases will undergo maintenance from September 29 to October 6, which may impact production stability [15] Production Data - China's urea production from January to August 2025 reached 47.42 million tons, a year-on-year increase of 9.7%, with August production dropping to 5.92 million tons [16] - The average daily production of urea recently was 19.27 million tons, showing a slight decrease, while inventory levels were higher than the previous year [24][25] Future Outlook - The market is awaiting the release of the U.S. Federal Reserve's Beige Book, which may indicate economic pressures and influence interest rate expectations [17] - Upcoming reports on palm oil production and supply from Indonesia are anticipated to provide insights into market dynamics [18][19]