苹果日报-20260303

Group 1: Report Industry Investment Rating - No relevant content Group 2: Core View of the Report - The current cold storage inventory of apples is at a relatively low level in the same period over the years. As of February 27, 2026, the cold storage inventory of apples in the main producing areas across the country was 5.5292 million tons, a decrease of 190,800 tons from the previous week and a year - on - year decrease of 181,100 tons, a decrease of 3.2%. The fundamentals of the May contract of apples are relatively strong, but the price of the May contract has increased significantly today. There may be some profit - taking orders for closing positions, so be cautious when chasing high. It is recommended to build long positions after a pullback [5]. Group 3: Summary by Directory First Part: Market Information - Spot Price: The Fuji apple price index was 107.22, down 0.30 from the next working day. The prices of various grades of apples in different regions remained stable. The average wholesale price of 6 kinds of fruits was 7.97, up 0.14 from the next working day [2]. - Futures Price: AP01 was 8528, up 58 from the previous close; AP05 was 10283, up 387 from the previous close; AP10 was 8644, up 26 from the previous close. The spreads between different contracts also changed [2]. - Basis: The basis of Qixia first - and second - grade 80 - AP01 was - 528, down 58 from the previous trading day; the basis of Qixia first - and second - grade 80 - AP05 was - 2283, down 387 from the previous trading day; the basis of Qixia first - and second - grade 80 - AP10 was - 644.0, down 26 from the previous trading day [2]. Second Part: Market News and Views - Transaction Logic: The cold storage inventory of apples is at a relatively low level. Although the apple price is high this fruit season, the pre - Spring Festival shipment and warehousing situation is okay. After the Spring Festival, from March to April is a relatively off - season for other fruits to be on the market, and the recent apple shipment situation has improved, and the de - stocking speed has accelerated compared with last week. As March enters the delivery month, the market has once again focused on whether the cold - storage apples can meet the delivery requirements and the cost of making warehouse receipts [5]. - Transaction Strategy: For the May contract, go long on dips; for arbitrage, go long on the May contract and short on the October contract; for options, it is recommended to wait and see [8]. Third Part: Related Attachments - The report provides multiple charts, including the price charts of Qixia first - and second - grade paper - bag 80 apples, Luochuan semi - commercial paper - bag 70 apples, AP contract main basis, spreads between different AP contracts, the total apple arrival volume in Chalong, Jiangmen, and Xiaqiao, the price of 6 kinds of fruits, the national cold - storage apple inventory, and the national cold - storage apple outbound volume [10][11][12]