集运日报：市场暂无明确交易方向盘面震荡运行投资者需注意或将反转信号已建议落袋后短期建议观望为主-20251229

1. Report Industry Investment Rating - No information provided 2. Core Viewpoints - The market has no clear trading direction, the price fluctuates, and investors should pay attention to potential reversal signals. It is recommended to take profits and wait and see in the short - term [1] - The tariff issue has a marginal effect, and the current core is the trend of spot freight rates. The main contract has a seasonal rebound, and it is recommended to participate with a light position or wait and see [1] - In the context of international situation turmoil, contracts follow seasonal logic with large fluctuations. It is recommended to wait and see or try with a light position for the arbitrage strategy [1] - For the long - term strategy, it is recommended to take profits when the contracts reach a high, wait for a pullback to stabilize, and then judge the subsequent direction [1] 3. Summary by Related Catalogs 3.1 SCFIS and NCFI Freight Rate Index - On December 26, the NCFI (composite index) was 1094.77 points, up 7.24% from the previous period; the SCFIS (European route) was 1589.20 points, up 5.2%; the NCFI (European route) was 1144.37 points, up 7.22%; the SCFIS (US West route) was 962.10 points, up 4.1%; the NCFI (US West route) was 1254.91 points, up 2.16% [1] - On December 26, the SCFI was 1656.32 points, up 103.4 points from the previous period; the CCFI (composite index) was 1124.73 points, up 0.6%; the SCFI European line price was 11690 USD/TEU, up 10.24%; the CCFI (European route) was 1473.90 points, up 0.2%; the SCFI US West route was 2188 USD/FEU, up 9.84%; the CCFI (US West route) was 792.06 points, down 0.9% [1] 3.2 Economic Data - The eurozone's November composite PMI preliminary value was 52.4, slightly lower than October's 52.5, staying above the boom - bust line of 50. The service industry PMI preliminary value was 53.1, better than expected [1] - The eurozone's December Sentix investor confidence index was - 6.2, expected - 7, previous value - 7.4 [1] - In November, China's manufacturing PMI was 49.2%, up 0.2 percentage points from the previous month. In October, the composite PMI output index was 49.7, down 0.3 percentage points from the previous month [1] - The US November S&P Global services PMI preliminary value was 55, expected 54.6, previous value 54.8. The US November S&P Global composite PMI preliminary value was 54.8, rising for the second consecutive month [1] 3.3 Market and Contract Information - On December 26, the main contract 2602 closed at 1824.5, up 0.161%, with a trading volume of 2.66 million lots and an open interest of 31,800 lots, down 2401 lots from the previous day [1] - The daily trading limit for contracts 2508 - 2606 was adjusted to 18% [1] - The margin for contracts 2508 - 2606 was adjusted to 28% [1] - The daily opening limit for all contracts 2508 - 2606 was set at 100 lots [1]