Ruida Futures(SZ:002961) Rui Da Qi Huo·2025-11-26 09:20Report Summary 1. Report Industry Investment Rating - Not provided in the report 2. Core Viewpoints - On Wednesday, the freight index (European Line) futures prices dropped significantly. The main contract EC2602 fell 7.62%, and the far - month contracts fell between 4 - 8%. The poor implementation of the freight rate increase plan led to a sharp decline in the near - month futures prices [1]. - The latest SCFIS European Line settlement freight rate index was 1639.37, up 271.7 points from last week, a 20.7% week - on - week increase. However, China's manufacturing PMI in October declined more than seasonally, and the new export order index dropped 1.9 percentage points to 45.9, indicating that the recovery of terminal transportation demand is not firmly based [1]. - Spot freight rates decreased as Maersk's 50 - week booking price for large containers dropped to $2100 - 2200, down $300 from the previous week, causing other shipping alliances to follow suit [1]. - Geopolitical conflicts, such as the ongoing Russia - Ukraine conflict in a stalemate, and the improvement of the trade war situation, the potential substantial easing of geopolitical conflicts, and the arrival of the fourth - quarter shipping peak season all affect the market. The freight rate market is highly affected by news, and futures prices are expected to fluctuate more. Investors are advised to be cautious and control risks [1]. 3. Summary by Relevant Catalogs Market Data - Futures Prices: EC2602 closed at 1072.200, down 68.0; EC2604 closed at 1252, down 102.10; the spread between EC2602 and EC2604 was 315.20, down 11.90; the spread between EC2602 and EC2606 was 135.40, up 19.90; the EC contract basis was 251.97, up 66.10 [1]. - Futures Positions: The main contract's open interest was 17998, up 982 [1]. - Freight Rate Indexes: SCFIS (European Line) was 1639.37, up 281.70; SCFIS (US West Coast Line) was 1107.85, down 130.57; SCFI (Comprehensive Index) was 1393.56, down 57.82; CCFI (Comprehensive Index) was 1122.79, up 28.76; CCFI (European Line) was 1432.96, up 29.32 [1]. - Other Indexes: The Baltic Dry Index was 2309.00, down 14.00; the Panamax Freight Index was 1957.00, down 13.00; the average charter price for Panamax ships was 17564.00, up; the average charter price for Capesize ships was 29150.00, down 1095.00 [1]. - Container Ship Capacity: It was 1227.97 (in ten thousand TEUs), up 3.08 [1]. Industry News - Diplomatic news includes positive communication between Chinese and US presidents, progress in the US - drafted peace plan for the Russia - Ukraine conflict, and the expected visit of the Ukrainian president to the US [1]. - The US federal government's budget deficit in October was $284 billion due to the government shutdown [1]. Key Events to Watch - On November 27, key data releases include China's year - to - date profit growth rate of industrial enterprises above a designated size in October, Germany's Gfk consumer confidence index for December, and the eurozone's industrial and economic sentiment indexes for November [1].