Report Industry Investment Rating - No relevant content provided Core Viewpoints - The short - term high - level shock of coking coal 2601 is due to the superposition of supply - side disturbances and short - term demand support, but the subsequent upward space is limited, and there is a risk of price decline if the supply - demand pattern remains loose. For other varieties, different trading strategies are proposed according to their respective fundamentals and technical aspects [3][4][5] Summary by Related Catalogs Coking Coal 2601 - The phased rise of coking coal 2601 is due to supply - side disturbances (safety inspections, slow resumption of production, and restrictions on Mongolian coal imports) and short - term demand support (high pig iron production and steel mill replenishment demand). However, the core contradiction of loose fundamentals remains unchanged, with high domestic coal production, increasing Mongolian coal imports, and sufficient delivery resources. Terminal steel consumption has concerns, and if the finished product inventory problem intensifies, it will suppress coking coal demand. It is expected to oscillate between 1100 - 1250 yuan/ton in the short term, and attention should be paid to relevant factors such as over - production verification [3][4][5] Stock Index Futures - The market news is generally positive, and the subsequent market is expected to be mainly in high - level shock [8] Gold - Shanghai gold has reached a new high with increased volatility. It is not advisable to chase long positions in the short term, and it is recommended to buy on dips [13] Iron Ore - After the holiday, the terminal situation has not improved, and pig iron production may decline. Technically, it is in a high - level wide - range shock interval, and high - selling and low - buying operations are recommended. In the long term, supply is expected to be loose with the commissioning of the Simandou project [16][17] Glass - There is a supply - side clearance. Technically, it has declined continuously recently, and attention should be paid to the right - side trading opportunities after stabilization. The future driving force lies in policy - end stimulus policies [20][21] Eggs - The inventory of laying hens is increasing, and the supply of eggs is sufficient, suppressing the price rebound. However, based on current prices and costs, egg - chicken farming is expected to lose 16.90 yuan per chicken, and short - term long opportunities can be grasped [23] Pulp - The pulp price in Shandong is stable. China's cumulative pulp imports from January to September were 2706 tons, a year - on - year increase of 5.6%, and domestic port inventories remain high. The "Golden September" peak season was not prosperous, and pulp is expected to run weakly. Rebound shorting is recommended [27]
金信期货日刊-20251016
Jin Xin Qi Huo·2025-10-16 01:08