中期协：2025年11月全国期货市场交易情况 成交量同比增长13.54%

Core Insights - The Chinese futures market experienced significant growth in trading volume and value in November, with a total trading volume of 769,588,116 contracts and a trading value of 666,113.54 billion yuan, representing year-on-year increases of 13.54% and 7.11% respectively [1] Group 1: National Futures Market - The cumulative trading volume from January to November reached 8,116,707,628 contracts, with a cumulative trading value of 6,754,470.23 billion yuan, showing year-on-year growth of 14.74% and 20.19% respectively [1] - The Shanghai Futures Exchange accounted for 23.59% of the national market's trading volume and 35.14% of its trading value in November, although it saw a year-on-year decline in trading volume by 14.31% [1] - The total open interest at the Shanghai Futures Exchange at the end of November was 11,121,259 contracts, reflecting a month-on-month increase of 0.51% [1] Group 2: Shanghai International Energy Exchange - The Shanghai International Energy Exchange reported a trading volume of 9,918,434 contracts and a trading value of 15,966.37 billion yuan in November, which accounted for 1.29% and 2.4% of the national market respectively, with both metrics showing year-on-year declines of 14.96% and 35.94% [2] - The cumulative trading volume from January to November was 145,175,968 contracts, with a cumulative trading value of 271,805.09 billion yuan, indicating a year-on-year increase in volume of 12.37% but a decline in value of 6.52% [2] Group 3: Zhengzhou Commodity Exchange - The Zhengzhou Commodity Exchange had a trading volume of 281,687,536 contracts and a trading value of 73,546.35 billion yuan in November, representing 36.6% and 11.04% of the national market respectively, with year-on-year increases of 36.46% and 18.09% [2] - The total open interest at the Zhengzhou Commodity Exchange at the end of November was 18,386,863 contracts, up 9.43% from the previous month [2] - Cumulative trading volume from January to November reached 2,829,759,014 contracts, with a cumulative trading value of 805,741.31 billion yuan, reflecting year-on-year growth of 17.42% in volume and 2.17% in value [2] Group 4: Dalian Commodity Exchange - The Dalian Commodity Exchange reported a trading volume of 204,792,089 contracts and a trading value of 79,685.78 billion yuan in November, accounting for 26.61% and 11.96% of the national market, with year-on-year increases of 3.92% in volume but a decline of 13% in value [3] - The total open interest at the Dalian Commodity Exchange at the end of November was 19,220,549 contracts, reflecting an increase of 8.92% from the previous month [3] - Cumulative trading volume from January to November was 2,357,884,318 contracts, with a cumulative trading value of 936,962.25 billion yuan, showing year-on-year growth of 14.75% in volume and 5.08% in value [3] Group 5: China Financial Futures Exchange - The China Financial Futures Exchange had a trading volume of 25,765,238 contracts and a trading value of 222,444.69 billion yuan in November, representing 3.35% and 33.39% of the national market, with year-on-year declines of 7.89% in volume and 5.31% in value [3] - The total open interest at the China Financial Futures Exchange at the end of November was 2,103,111 contracts, down 7.38% from the previous month [3] - Cumulative trading volume from January to November reached 276,517,181 contracts, with a cumulative trading value of 2,313,189.93 billion yuan, indicating year-on-year growth of 21.39% in volume and 36.88% in value [3] Group 6: Guangzhou Futures Exchange - The Guangzhou Futures Exchange reported a trading volume of 65,916,866 contracts and a trading value of 40,389.77 billion yuan in November, accounting for 8.57% and 6.06% of the national market, with year-on-year increases of 188.46% in volume and 221.78% in value [4] - The total open interest at the Guangzhou Futures Exchange at the end of November was 2,747,092 contracts, reflecting a month-on-month increase of 24.52% [4] - Cumulative trading volume from January to November was 472,393,563 contracts, with a cumulative trading value of 260,334.74 billion yuan, showing year-on-year growth of 161.99% in volume and 159.36% in value [4]