国泰君安期货：原木：小幅探涨

Group 1: Investment Rating - No information about the industry investment rating is provided in the report. Group 2: Core View - The price of logs is slightly rising. The overall trend strength of logs is 1, indicating a neutral stance, with the trend strength range being integers from -2 to 2 [-2 represents the most bearish view, and 2 represents the most bullish view] [1][4] Group 3: Summary of Related Contents by Directory Fundamental Tracking - Futures Contracts: For the 2603 contract, the closing price was 795 on 2026/2/2, with a daily decline of 0.4% and a weekly increase of 2.5%; the trading volume was 11,027, with a daily decline of 28.6% and a weekly increase of 199%; the open - interest was 9,071, with a daily decline of 10.4% and a weekly decline of 12%. Similar data is provided for the 2605 and 2607 contracts. There are also data on the price differences between different contracts [1] - Spot Market: In the log spot market, prices of different types of logs in different regions showed different changes. For example, the 3.9 - meter 30+ radiata pine in the Shandong market had a price of 750 yuan/m³ on 2026/2/2, with a daily increase of 1.4% and a weekly increase of 1.4%. In the wood square spot market, prices of different types of wood squares in different regions also showed different changes. For example, the 3 - meter radiata pine wood square in Rizhao had a price of 1,270 yuan/m³ on 2026/2/2, with a daily increase of 4.1% and a weekly increase of 4.1% [1] Macro and Industry News - China's Manufacturing PMI in January was 50.3, in line with expectations and higher than the previous value of 50.1 [3] - Multiple real - estate enterprise related personnel stated that currently, their companies are no longer required by regulatory authorities to report the "Three Red Lines" indicators monthly. However, some troubled real - estate enterprises are required to regularly report financial indicators such as asset - liability ratio to the special team in the city where their headquarters are located [3] Trend Strength - The log trend strength is 1, indicating a neutral stance, with the trend strength range being integers from -2 to 2 [-2 represents the most bearish view, and 2 represents the most bullish view] [4]