| | | | | 2025年6月3日30年期国债期货全合约持仓数据 | | | | | 览 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 名次 会员名称 成交量(双边) | | 增减 | 会员 | 持买单 | 增减 | 会员 | 持卖单 | 增减 | | J | 中信期货 | 21,414 | -803 | 中信期货 | 21,810 | 264 | 东证期货 | 12,920 | 644 | | 2 | 东证期货 | 16,131 | -1,610 | 国泰君安 | 12,761 | -30 | 中信期货 | 12,096 | -988 | | 3 | 国泰君安 | 13,942 | -1,710 | 东证期货 | 9,578 | -1,203 | 银河期货 | 10,583 | -35 | | 4 | 海通期货 | 8,476 | -852 | 走拳期货 | 6,348 | 745 | 国等朗总 | 8,664 | 304 | | 5 | 未闻期货 | 5.474 | -128 | 平安期货 | 5,909 | 1 ...

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - Shanghai Futures Exchange plans to launch cast aluminum alloy futures and options on June 10, 2025, which will bring new development opportunities to the aluminum alloy industry. The report aims to help investors understand the aluminum alloy industry chain and potential trading strategies by writing a series of aluminum alloy special topics [7]. 3. Summary According to the Table of Contents 3.1 Aluminum Alloy Definition and Classification - Aluminum alloy is an alloy with aluminum as the base and a certain amount of other alloying elements added. It has properties such as low density, high strength, good casting and plastic processing performance, and is widely used in various fields. It can be divided into wrought aluminum alloy and cast aluminum alloy according to composition and processing method [8]. - **Wrought Aluminum Alloy**: It is made into semi - finished products such as tubes, rods, wires, and profiles through various pressure processing methods. It can be further divided into five categories: anti - corrosion aluminum alloy, duralumin, super - duralumin, forged aluminum, and special aluminum, each with different properties and uses [9]. - **Cast Aluminum Alloy**: It is used to directly cast various mechanical parts. According to the main added elements, it can be divided into aluminum - silicon alloy, aluminum - copper alloy, aluminum - magnesium alloy, aluminum - zinc alloy, and aluminum - rare earth alloy. Different types have different characteristics and applications, such as in the marine industry [14]. - Aluminum alloy can also be classified according to use, production material source, and alloying element type and quantity, with each classification having specific characteristics and common models [20][21][23]. 3.2 Definition and Properties of Aluminum - Silicon - Copper Alloy ADC12 - ADC12 is a Japanese brand, equivalent to A383 in the US and YL113 in China, belonging to the Al - Si - Cu series alloy. It is a representative brand of recycled cast aluminum alloy, accounting for about 75% of China's recycled cast aluminum alloy production in 2023 [34][36]. - Its main properties include a melting point of 580°C, a boiling point of 2519°C, a density of 2.74g/cm³, good fluidity, light weight, good thermal conductivity, corrosion resistance, and mechanical workability, making it suitable for die - casting and various applications [39]. 3.3 Production Process of Cast Aluminum Alloy ADC12 - The production of recycled aluminum mainly includes pre - treatment of waste aluminum, melting, refining, and casting. The production process of ADC12 mainly includes pressure casting and gravity casting [41][50]. - **Pressure Casting**: It is divided into high - pressure casting and low - pressure casting. High - pressure casting can produce parts with high density and good surface quality, but has high requirements for molds. Low - pressure casting can reduce the formation of pores and inclusions, with better dimensional stability and surface quality [44]. - **Gravity Casting**: It uses gravity to inject molten metal into a permanent mold, which can produce parts with complex shapes and smooth surfaces. It has strong versatility and flexibility in the manufacturing of precision parts [48]. - With the improvement of environmental protection requirements and technological progress, the production process of recycled aluminum has undergone significant changes in pre - treatment, melting, refining, casting, and other aspects [54]. 3.4 Production Cost of Cast Aluminum Alloy ADC12 - Cast aluminum alloy accounts for about 60% of all aluminum alloys, and ADC12 is mainly composed of aluminum from waste aluminum and primary aluminum. The cost of recycled cast aluminum alloy mainly includes aluminum element cost, alloy element cost, energy cost, and other costs [56]. - **Aluminum Element Cost**: Usually, a mixture of primary aluminum and recycled aluminum is used, with a consumption of about 1.1 tons of waste aluminum to produce one ton of ADC12 due to a 90% water - output rate of waste aluminum melting [58][59]. - **Alloy Element Cost**: Additional silicon (about 5%) and copper (about 1.2%) need to be added. Other alloy elements have a relatively low proportion [60]. - **Energy Cost**: Mainly natural gas, with 60 - 80 cubic meters of natural gas required to produce one ton of aluminum alloy, and electricity is also consumed. The overall energy cost accounts for about 1% [62]. - According to Steel Union's calculation, in April 2025, the weighted average full cost of ADC12 was 19,817 yuan/ton, with a theoretical profit of 209 yuan/ton [63]. 3.5 Application Fields of Cast Aluminum Alloy ADC12 - ADC12 is widely used in transportation, mechanical manufacturing, architectural decoration, and other fields due to its excellent casting performance, mechanical properties, and lightweight characteristics [64]. - **Transportation Field**: It plays a key role in the lightweight process of the automotive industry, accounting for more than 70% of the total aluminum used in automobiles. It is also widely used in motorcycles and electric vehicles [65][66]. - **Architectural Decoration Field**: Aluminum alloy has many advantages in the construction industry, such as light weight, easy extrusion, corrosion resistance, and high recycling value, making it an ideal green building material [67]. - **Mechanical Manufacturing Field**: Recycled aluminum alloy can reduce production costs and is widely used in automotive parts, machinery equipment shells, mold manufacturing, and precision tools, promoting the green development of the industry [68]. 3.6 Spot Pricing Model of Cast Aluminum Alloy ADC12 - The spot price of aluminum alloy is mainly affected by market supply and demand and futures market prices. Currently, the pricing is mainly based on the spot market because the aluminum alloy futures market is not yet mature [72]. - **Pricing Based on Market Supply - and - Demand Relationship**: The price of ADC12 fluctuates with market supply and demand. Production cost, inventory level, environmental protection policies, and other factors affect market supply and demand [73]. - **Pricing Based on Spot Market Price**: The base price can be divided into spot price and futures price. The spot price mainly refers to quotes from Shanghai Non - ferrous Metals Network and Changjiang Market. The futures price can refer to contracts from London Metal Exchange, New York Mercantile Exchange, and Shanghai Futures Exchange [79][80]. 3.7 Relevant Policies of China's Recycled Aluminum Industry - Since 2006, the Chinese government has introduced a series of policies to support and regulate the recycled aluminum industry, covering waste aluminum recycling, recycled aluminum production, and import - export [81]. - **Waste Aluminum Recycling Policies**: Focus on efficient resource recycling and environmental protection, promoting the standardization, greening, and technological progress of the waste aluminum recycling industry through economic incentives and regulations [81]. - **Recycled Aluminum Production Policies**: Encourage resource recycling and utilization, promote the transformation and upgrading of the industry, and reduce dependence on primary aluminum [84]. - **Recycled Aluminum and Waste Aluminum Import - Export Policies**: Aims to promote the standardized recycling and reuse of waste aluminum resources, optimize the import - export structure, and achieve the green and low - carbon transformation of the industry [85]. 3.8 Cast Aluminum Alloy Futures and Option Contracts - **Listing Time**: Cast aluminum alloy futures will be listed for trading on June 10, 2025 [88]. - **Trading Time**: From Monday to Friday, 09:00 - 10:15, 10:30 - 11:30, 13:30 - 15:00, and 21:00 - 01:00 (continuous trading), with exceptions on the day before legal holidays [89]. - **Listed Contracts**: AD2511, AD2512, AD2601, AD2602, AD2603, AD2604, AD2605 [90]. - **Other Terms**: Include trading margin, price limit, position disclosure, trading commission, and declaration fee charging rules, as well as detailed regulations on delivery units, quality requirements, recognized production enterprises and registered brands, and delivery warehouses [92][93][94]. - The option contract also has specific terms such as contract subject matter, type, trading unit, price limit, and exercise method [105].

| | | | | 2025年5月28日红枣全合约持仓数据 | | | | 一览 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 名次 会员名称 成交量(双边) | | 增减 | 会员 | 持买单 | 增减 | 会员 | 持卖单 | | | J | 中信期货 | 24,061 | 9,906 | 国泰君安 | 6.791 | -306 | 国泰君安 | 11,953 | 577 | | 2 | 东证期货 | 11,937 | 5,651 | 银河期货 | 4,940 | 293 | 中信期货 | 5,776 | 218 | | 3 | 国泰君安 | 11,401 | 3.948 | 永安期货 | 4,329 | 492 | 浙商期货 | 5,713 | 387 | | 4 | 银河期货 | 9,465 | 3,520 | 中粮期货 | 3,884 | 380 | 中粮期货 | 3,981 | -160 | | 5 | 中泰期货 | 7,313 | 3,109 | 中信期货 | 3,282 | -571 | 东证期货 | ...

主力合约前20席位中，多头增仓前三名分别是：国泰君安、持仓16782、增仓2199，国信期货、持仓3791、增仓1138，东方财富、 持仓2245、增仓899；多头减仓前三名分别是：中信期货、持仓14726、减仓-1390，东证期货、持仓5667、减仓-1282，海通期 货、持仓3428、减仓-1160； 主力合约前20席位中，空头增仓前三名分别是：中银期货、持仓7483、增仓1964，国投期货、持仓3077、增仓798，海通期货、持 仓3373、增仓318；空头减仓前三名分别是：国泰君安、持仓13234、减仓-2123，五矿期货、持仓3125、减仓-2013，方正中期、 持仓2366、减仓-1198。 文章来源:新浪期货 新浪期货 根据交易所数据，截至5月22日收盘主力合约燃料油2507,涨跌-2.22%,成交量59.32万手，持仓数据显示前20席位呈现净 空，差额头寸为2033手。 燃料油期货全合约总计成交81.50万手，比上一日减少4.08万手。全合约前20席位多头持仓30.02万手，比上一日增加212手。全合 约前20席位空头持仓32.07万手，比上一日减少632手。 根据合并数据显示，多头前三席位为 ...

(*文中全合约指交易所公布持仓成交数据的所有合约) 主力合约前20席位中，多头增仓前三名分别是：东证期货、持仓9311、增仓2555，中信期货、持仓17275、增仓589，国泰君安、 持仓7862、增仓479；多头减仓前三名分别是：华泰期货、持仓3903、减仓-268，宏源期货、持仓2105、减仓-165，浙商期货、持 仓1110、减仓-44； 主力合约前20席位中，空头增仓前三名分别是：宝城期货、持仓2890、增仓1232，银河期货、持仓7256、增仓658，东证期货、持 仓9480、增仓550；空头减仓前三名分别是：广发期货、持仓2739、减仓-126，国元期货、持仓1037、减仓-79，民生期货、持仓 1029、减仓-46。 文章来源:新浪期货 | | | | | 2025年5月21日30年期国债期货主力合约2509持仓数据 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 名次 会员名称 成交量(双边) | | 增减 | | 会员 - 持买单 | 增减 | 会员 | 持卖单 | | | ਹ | 中 ...

主力合约前20席位中，多头增仓前三名分别是：中泰期货、持仓6111、增仓3042，国泰君安、持仓47430、增仓2463，中信期货、 持仓16924、增仓1172；多头减仓前三名分别是：东证期货、持仓11618、减仓-1216，中金财富、持仓3371、减仓-950，海通期 货、持仓5063、减仓-915； 新浪期货 根据交易所数据，截至5月20日收盘主力合约苯乙烯2507,涨跌-1.92%,成交量34.29万手，持仓数据显示前20席位呈现净 空，差额头寸为8725手。 苯乙烯期货全合约总计成交109.49万手，比上一日新增20.59万手。全合约前20席位多头持仓39.71万手，比上一日减少4671手。全 合约前20席位空头持仓43.00万手，比上一日增加1.22万手。 主力合约前20席位中，空头增仓前三名分别是：永安期货、持仓14735、增仓7545，东证期货、持仓9733、增仓2772，宏源期货、 持仓4019、增仓1507；空头减仓前三名分别是：中泰期货、持仓2806、减仓-2430，申银万国、持仓5704、减仓-637，中信建投、 持仓7802、减仓-341。 根据合并数据显示，多头前三席位为国泰君安， ...

新浪期货 根据交易所数据，截至5月19日收盘主力合约沥青2507,涨跌+0.69%,成交量12.44万手，持仓数据显示前20席位呈现净 空，差额头寸为5356手。 | | | | | 2025年5月19日沥青主力合约2507持仓数据一览 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 名次 会员名称 成交量(双边) | | 壇減 | 会员 | 持买单 | 壇減 | 会员 | 持卖单 | 增减 | | ਹ | 东证期货 | 40,808 | 4,375 | 中信期货 | 11,532 | 427 | 中信期货 | 13,588 | 713 | | 2 | 中泰期货 | 27,544 | 9,820 | 国泰君安 | 11,195 | 3,472 | 中粮期货 | 10,426 | -341 | | 3 | 中信期货 | 23,172 | 2,875 | 银河期货 | 9,385 | 784 | 东证期货 | 8,211 | 1,318 | | ব | 国泰君安 | 19,562 | 6,439 | 永安期 ...

主力合约前20席位中，多头增仓前三名分别是：银河期货、持仓7995、增仓4558，申银万国、持仓1932、增仓840，国泰君安期 货、持仓4282、增仓541；多头减仓前三名分别是：东证期货、持仓1387、减仓-359，华泰期货、持仓1423、减仓-342，海证期 货、持仓865、减仓-232； 主力合约前20席位中，空头增仓前三名分别是：中信期货、持仓5102、增仓1143，永安期货、持仓1597、增仓494，方正中期、持 仓2109、增仓249；空头减仓前三名分别是：东证期货、持仓2213、减仓-549，五矿期货、持仓2042、减仓-306，国泰君安期货、 持仓5340、减仓-274。 文章来源:新浪期货 | | | | | 2025年5月16日多晶硅主力合约2507持仓数据一览 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 名次 会员名称 成交量(双边) | | 増減 | 会员 | 持买单 | 増減 | 会员 | 持卖单 | 增减 | | ਹ | 中信期货 | 40,148 | 12,410 | ...

新浪期货 根据交易所数据，截至5月16日收盘主力合约30年期国债期货2509,涨跌-0.11%,成交量4.78万手，持仓数据显示前20席位 呈现净多，差额头寸为329手。 30年期国债期货期货全合约总计成交11.91万手，比上一日新增1.21万手。全合约前20席位多头持仓9.66万手，比上一日减少1739 手。全合约前20席位空头持仓9.82万手，比上一日减少1233手。 根据合并数据显示，多头前三席位为中信期货，总持仓22950、国泰君安，总持仓12922、东证期货，总持仓10137；空头前三席位 为中信期货，总持仓13789、银河期货，总持仓12435、东证期货，总持仓11844； 主力合约前20席位中，多头增仓前三名分别是：宏源期货、持仓2246、增仓383，中泰期货、持仓1509、增仓380，中信期货、持 仓15672、增仓352；多头减仓前三名分别是：申银万国、持仓1172、减仓-415，国泰君安、持仓7134、减仓-267，银河期货、持 仓2186、减仓-94； | | | | | 2025年5月16日30年期国债期货主力合约2509持仓数据 | | | | | | | --- | --- | - ...

主力合约前20席位中，空头增仓前三名分别是：永安期货、持仓8077、增仓1806，国联期货、持仓3768、增仓679，广发期货、持 仓5338、增仓463；空头减仓前三名分别是：东证期货、持仓10614、减仓-3321，中信期货、持仓14308、减仓-2244，中泰期货、 持仓7083、减仓-2084。 文章来源:新浪期货 | | | | | 2025年5月15日尿素全合约持仓数据一览 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 名次 会员名称 成交量(双边) | | 壇減 | | 会员 | 增减 | 会员 | 持卖单 | 增减 | | ਹ | 国泰君安 | 105,456 | 5,707 | 东证期货 | 20,951 | 1.663 | 国泰君安 | 23,804 | -542 | | 2 | 东证期货 | 90.753 | -3.073 | 国泰君女 | 20,876 | -2,934 | 一德期货 | 17,109 | 44 | | 3 | 中信期货 | 83,283 | 1,470 | 中 ...