Yongan Futures(SH:600927) Yong An Qi Huo·2025-12-29 03:25Report Summary 1. Report Industry Investment Rating No information provided in the given content. 2. Core Viewpoints - For contracts after 02, the focus is on spot trends. It's difficult to predict the peak height, time, and subsequent price - drop rhythm of January freight rates. At the current level, entry is not recommended [2][7]. - The 04 contract is moderately over - valued, but there is short - term upward risk (due to factors like capital position transfer, geopolitical reversal, pre - holiday position reduction, and price increase notices after reaching the bottom). The strategy is to short on rallies [2][7]. - Far - month contracts are greatly affected by geopolitics. Under the long - term logic of expected resumption of shipping and the off - season, the strategy for the 10 contract is to short on rallies [2][7]. 3. Summaries by Related Catalogs 3.1 Futures Contract Data - EC Contracts: EC2512 had a 0.31% change, with a price of 1613.0 and a decrease of 23.8. EC2602 had a 1.38% change, with a price of 1824.5 and a decrease of 235.3. Other contracts also had their respective price and change data [2][7]. - Month - to - Month Spreads: For example, EC2512 - 2504 had a spread of 458.2, with a change of - 19.8 compared to the previous period [2][7]. 3.2 Index Data - SCEIS: It had a 5.21% change this period and a 0.10% change compared to the previous period, with a value of 1509.10 as of 2025/12/22, updated weekly [2][7]. - SCFI (European Line): It had a 10.24% change this period and a - 0.33% change compared to the previous period, with a value of 1690 dollars/TEU as of 2025/12/26, updated weekly [2][7]. - CCFI: It had a 3.06% change this period and a 0.23% change compared to the previous period, with a value of 1519.06 as of 2025/12/26, updated weekly [2][7]. - NCFI: It had a 7.22% change this period and a 0.30% change compared to the previous period, with a value of 1144.37 as of 2025/12/26, updated weekly [2][7]. 3.3 European Line Spot Situation - Week 52: MSK opened at 2300 dollars, and other companies generally followed Week 51's rates. The central rate was 2500 dollars, equivalent to about 1750 points on the futures market [2][7]. - Week 1: MSK opened at 2500 dollars, OA at 2700 - 2800 dollars (EMC's partial routes at 2500+ dollars), and PA at 2800 dollars (with a volume - related rate of 2600 dollars). The central rate was 1950 dollars, equivalent to about 1950 points on the futures market [2][7]. - Week 2: MSK kept the rate at 2500 dollars, but the rate at Hamburg Port was 2600 dollars (a 100 - dollar increase from the previous period) [2][7]. 3.4 Related News - On 12/28, there were significant differences between the US and Israel on the Gaza issue. Israeli Prime Minister Netanyahu visited the US, aiming to persuade the US to accept a tougher stance on the Gaza cease - fire agreement [2][7]. - On 12/27, the rift in the Gulf region deepened as Saudi Arabia attacked a faction in Yemen supported by the UAE [2][7].