Core Viewpoint - The domestic non-ferrous metal market on May 20 showed a mixed trend with most metals declining, particularly industrial silicon and lithium carbonate, while alumina experienced a slight increase [1] Price Movements - Industrial silicon futures fell nearly 2% to 7980.00 CNY/ton, while lithium carbonate dropped 1.24% to 60640.00 CNY/ton [1] - Alumina futures rose by 1.39% to 3133.00 CNY/ton [1] - Nickel futures decreased by 0.50% to 123280.00 CNY/ton [1] Opening and Closing Prices - The opening and closing prices for various metals on May 20 were as follows: - Alumina: Opened at 3149.00 CNY, closed at 3090.00 CNY [1] - Lithium carbonate: Opened at 61160.00 CNY, closed at 61400.00 CNY [1] - Copper: Opened at 77980.00 CNY, closed at 77740.00 CNY [1] - International copper: Opened at 68950.00 CNY, closed at 68940.00 CNY [1] - Aluminum: Opened at 20050.00 CNY, closed at 20165.00 CNY [1] - Lead: Opened at 16860.00 CNY, closed at 16900.00 CNY [1] - Nickel: Opened at 123200.00 CNY, closed at 123900.00 CNY [1] - Zinc: Opened at 22415.00 CNY, closed at 22465.00 CNY [1] - Industrial silicon: Opened at 8065.00 CNY, closed at 8130.00 CNY [1] - Tin: Opened at 265600.00 CNY, closed at 263990.00 CNY [1] Inventory Changes - As of May 19, the inventory data for non-ferrous metals showed: - Copper futures inventory decreased by 1334 tons to 61913 tons [1] - Aluminum futures inventory decreased by 323 tons to 62497 tons [1] - Zinc futures inventory decreased by 474 tons to 1701 tons [1] - Tin futures inventory decreased by 64 tons to 8119 tons [1] - Lead futures inventory increased by 126 tons to 50047 tons [1] - Nickel futures inventory decreased by 30 tons to 23471 tons [1] - International copper futures inventory remained stable at 13744 tons [1] - Alumina futures inventory decreased by 1805 tons to 202930 tons [1] - Lithium carbonate futures inventory increased by 60 hands to 36684 hands [1] - Industrial silicon futures inventory decreased by 287 hands to 66097 hands [1] Basis Data - As of May 19, the basis data indicated a "backwardation" phenomenon for several metals: - Copper: Spot price at 78113.3 CNY, futures price at 77740 CNY, basis at 373 CNY, basis rate at 0.48% [1] - Zinc: Spot price at 22590 CNY, futures price at 22280 CNY, basis at 310 CNY, basis rate at 1.37% [1] - Aluminum: Spot price at 20290 CNY, futures price at 20165 CNY, basis at 125 CNY, basis rate at 0.62% [1] - Lead: Spot price at 16825 CNY, futures price at 16920 CNY, basis at -95 CNY, basis rate at -0.56% [1] - Nickel: Spot price at 125083 CNY, futures price at 123900 CNY, basis at 1183 CNY, basis rate at 0.95% [1] - Tin: Spot price at 265188 CNY, futures price at 263990 CNY, basis at 1198 CNY, basis rate at 0.45% [1] - Industrial silicon: Spot price at 9390 CNY, futures price at 8200 CNY, basis at 1190 CNY, basis rate at 12.67% [1] - Lithium carbonate: Spot price at 63600 CNY, futures price at 61400 CNY, basis at 2200 CNY, basis rate at 3.46% [1] - Polysilicon: Spot price at 38000 CNY, futures price at 37150 CNY, basis at 850 CNY, basis rate at 2.24% [1] - International copper: Spot price at 69235 CNY, futures price at 68940 CNY, basis at 295 CNY, basis rate at 0.43% [1]

Core Insights - The domestic non-ferrous metal market showed significant gains on May 15, with aluminum oxide leading the increase by over 4% [1] - The main contracts for various metals exhibited mixed performance, with lithium carbonate experiencing a decline of 0.86% [1] Market Performance - Aluminum oxide rose by 4.52%, reaching 3008.00 CNY/ton [1] - Industrial silicon increased by 0.84%, priced at 8450.00 CNY/ton [1] - Shanghai aluminum saw a rise of 0.77%, trading at 20275.00 CNY/ton [1] - Lithium carbonate fell to 64180.00 CNY/ton, down 0.86% [1] Inventory Data - Copper futures inventory increased by 20912 tons, totaling 50069 tons [1] - Aluminum futures inventory rose by 1106 tons, reaching 62446 tons [1] - Zinc futures inventory remained stable at 1600 tons [1] - Tin futures inventory decreased by 60 tons, totaling 8179 tons [1] - Lead futures inventory increased by 957 tons, totaling 48250 tons [1] - Nickel futures inventory decreased by 398 tons, totaling 23549 tons [1] - International copper futures inventory increased by 2450 tons, totaling 13744 tons [1] - Aluminum oxide futures inventory decreased by 1199 tons, totaling 217034 tons [1] Basis Data - Several metals exhibited a "backwardation" phenomenon, including copper, zinc, nickel, tin, industrial silicon, lithium carbonate, and polysilicon [1] - Copper basis was 301 with a basis rate of 0.38% [1] - Zinc basis was 330 with a basis rate of 1.44% [1] - Aluminum basis was -86 with a basis rate of -0.43% [1] - Lead basis was -70 with a basis rate of -0.42% [1] - Nickel basis was 1908 with a basis rate of 1.51% [1] - Tin basis was 508 with a basis rate of 0.19% [1] - Industrial silicon basis was 1145 with a basis rate of 11.91% [1] - Lithium carbonate basis was 226 with a basis rate of 0.35% [1] - Polysilicon basis was 580 with a basis rate of 1.49% [1] - International copper basis was -15 with a basis rate of -0.02% [1]

【5 月 14 日国内期市黑色金属板块全线飘红】截止目前，铁矿石主力上涨 1.88%，报 733.00 元/吨。螺 纹钢主力上涨 0.84%，报 3115.00 元/吨。热卷主力上涨 0.84%，报 3253.00 元/吨。不锈钢主力上涨 1.16%，报 13080.00 元/吨。5 月 13 日黑色金属仓单数据显示，螺纹钢仓库期货仓单 148997 吨，环比上 个减少 19706 吨。铁矿石期货仓单 3200 手，环比上个持平。不锈钢仓库期货仓单 159232 吨，环比上个 减少 1012 吨。热轧卷板期货仓单 281489 吨，环比上个减少 9957 吨。锰硅期货仓单 121174 张，环比上 个减少 136 张。硅铁期货仓单 19249 张，环比上个减少 28 张。截止 5 月 13 日，据商品期货基差数据显 示，螺纹钢、热卷、不锈钢品种合约出现"期现倒挂"现象。螺纹钢现货价格 3164.78 元，期货价格 3089 元，基差 75 元，基差率 2.37%。线材现货价格 3370 元，期货价格 3433 元，基差-63 元，基差 率-1.87%。热轧卷板现货价格 3296.67 元，期货价格 3226 ...

【5 月 13 日国内期市原油系板块表现各异】5 月 13 日，国内期市原油系板块中，液化石油气主力跌逾 2%，其余品种有涨。截至目前，液化石油气主力下跌 2.18%，报 4267.00 元/吨；原油主力上涨 0.74%，报 477.90 元/桶；燃料油主力上涨 1.08%，报 2993.00 元/吨；低硫燃料油主力上涨 1.18%，报 3520.00 元/吨。5 月 12 日商品仓单数据显示，中质含硫原油期货仓单 4029000 桶，环比减少 615000 桶；燃料油期货仓单 44390 吨，环比减少 6730 吨；石油沥青厂库期货仓单 30960 吨，环比持平；液化 石油气期货仓单 6762 手，环比增加 415 手；低硫燃料油仓库期货仓单 26270 吨，环比减少 15980 吨。 截止 5 月 12 日，据基差数据，燃料油、沥青、液化石油气、低硫燃料油品种合约出现"期现倒挂"现 象。其中，燃料油现货价格 5470 元，期货价格2961 元，基差 2509 元，基差率 45.87%；沥青现货价格 3585 元，期货价格 3447 元，基差 138 元，基差率 3.85%；液化石油气现货价格 4905 元 ...

Core Viewpoint - The chemical futures market in China showed a mixed performance on May 12, with most products experiencing price fluctuations, particularly PTA which saw a significant increase of nearly 3% [1]. Price Movements - PTA futures rose by 2.76% to 4694.00 CNY/ton - Pure soda futures decreased by 0.91% to 1304.00 CNY/ton - Paraxylene futures increased by 2.54% to 6610.00 CNY/ton - Styrene futures rose by 2.41% to 7147.00 CNY/ton [1][2]. Warehouse Data - As of May 9, PTA warehouse receipts decreased by 6246 to 91568 [3]. - The total warehouse receipts for rubber decreased by 160 to 200500 [3]. - The warehouse receipts for pure soda decreased by 159 to 5832 [3]. Basis Data - As of May 9, several commodities including PTA, paper pulp, and methanol exhibited a phenomenon of "backwardation," where spot prices exceeded futures prices [4]. - The basis for PTA was reported at 182 with a basis rate of 3.83% [5]. Current Prices and Basis - The current spot price for PTA is 4750.84 CNY, with a futures price of 4568 CNY, resulting in a basis of 182 CNY [5]. - The basis for pure soda is 146 CNY with a basis rate of 9.98% [5].

4月29日，商品市场仓单数据显示： 4月30日，国内期市化工板块多数走低，尿素主力涨逾6%。截止目前，尿素主力上涨6.29%，报1858.00 元/吨；纯碱主力下跌1.31%，报1353.00元/吨；玻璃主力下跌2.69%，报1085.00元/吨；纸浆主力下跌 2.67%，报5112.00元/吨。 4月30日化工期货价格行情 | 合约名称 | 开盘价 | 昨收价 | 昨结价 | | --- | --- | --- | --- | | 橡胶 | 14650.00 | 14635.00 | 14700.00 | | 20号胶 | 12225.00 | 12235.00 | 12280.00 | | 合成橡胶 | 11215.00 | 11225.00 | 11260.00 | | PTA | 4426.00 | 4440.00 | 4446.00 | | 短纤 | 6168.00 | 6184.00 | 6176.00 | | PVC | 4949.00 | 4949.00 | 4958.00 | | 甲醇 | 2279.00 | 2278.00 | 2286.00 | | 乙二醇 | 4190.00 | 418 ...

螺纹钢仓库期货仓单199647吨，环比上个交易日持平； 铁矿石期货仓单3200手，环比上个交易日持平； 不锈钢仓库期货仓单163143吨，环比上个交易日减少1799吨； 热轧卷板期货仓单347020吨，环比上个交易日减少2653吨； 4月30日，国内期市黑色金属板块全线飘绿，锰硅主力跌逾1%。截止目前，锰硅主力下跌1.28%，报 5714.00元/吨；铁矿石主力下跌0.85%，报703.00元/吨；热卷主力下跌0.65%，报3197.00元/吨；硅铁主 力下跌0.71%，报5592.00元/吨。 4月30日黑色金属期货价格行情 | 合约名称 | 开盘价 | 昨收价 | 昨结价 | | --- | --- | --- | --- | | 螺纹钢 | 3100.00 | 3100.00 | 3109.00 | | 铁矿石 | 709.00 | 709.00 | 709.00 | | 不锈钢 | 12715.00 | 12720.00 | 12700.00 | | 热卷 | 3207.00 | 3210.00 | 3218.00 | | 线材 | 3348.00 | 3300.00 | 3286.00 | | 硅铁 ...

Core Viewpoint - The performance of the non-ferrous metals sector in the domestic futures market on April 30 showed mixed results, with significant fluctuations in various metal prices and changes in warehouse receipts [1] Price Movements - The main contract for alumina fell over 3%, down 3.10% to 2721.00 CNY/ton - The main contract for industrial silicon decreased by 1.10%, priced at 8550.00 CNY/ton - The main contract for aluminum rose by 0.23%, reaching 19965.00 CNY/ton - The main contract for nickel declined by 0.59%, priced at 123750.00 CNY/ton [1] Warehouse Receipts Data - As of April 29, copper futures warehouse receipts totaled 34042 tons, a decrease of 2842 tons - Aluminum futures warehouse receipts were at 70211 tons, down 2379 tons - Zinc futures warehouse receipts stood at 2429 tons, a reduction of 427 tons - Tin futures warehouse receipts were 8606 tons, down 116 tons - Lead futures warehouse receipts increased by 427 tons to 38398 tons - Nickel futures warehouse receipts decreased by 264 tons to 24368 tons - International copper futures warehouse receipts were at 9863 tons, down 100 tons - Alumina futures warehouse receipts increased by 6008 tons to 285530 tons - Lithium carbonate futures warehouse receipts were at 33477 lots, up 630 lots - Industrial silicon futures warehouse receipts totaled 69367 lots, down 50 lots [1] Basis Data - As of April 29, various commodities showed a "backwardation" phenomenon in basis data, including copper, zinc, aluminum, nickel, tin, industrial silicon, lithium carbonate, polysilicon, and international copper contracts - Copper basis was 511 with a basis rate of 0.65% - Zinc basis was 435 with a basis rate of 1.89% - Aluminum basis was 46 with a basis rate of 0.23% - Lead basis was -52 with a basis rate of -0.31% - Nickel basis was 1137 with a basis rate of 0.91% - Tin basis was 965 with a basis rate of 0.37% - Industrial silicon basis was 1315 with a basis rate of 13.20% - Lithium carbonate basis was 2486 with a basis rate of 3.60% - Polysilicon basis was 2680 with a basis rate of 6.70% - International copper basis was 143 with a basis rate of 0.21% [1]

Core Viewpoint - The agricultural futures market in China experienced a significant decline on April 29, with major products such as live pigs and red dates dropping over 1% in price [1] Price Movements - Live pig futures fell by 1.59%, settling at 13,935.00 CNY/ton [1] - Red date futures decreased by 1.37%, closing at 8,980.00 CNY/ton [1] - Apple futures saw a minor decline of 0.21%, ending at 7,947.00 CNY/ton [1] - Egg futures dropped by 0.17%, closing at 2,983.00 CNY/500 kg [1] Opening and Closing Prices - Egg opening price was 2,981.00 CNY, with a previous closing price of 2,988.00 CNY [1] - Live pig opened at 14,075.00 CNY, with a previous close of 14,160.00 CNY [1] - Red date opened at 9,035.00 CNY, with a previous close of 9,105.00 CNY [1] - Apple opened at 7,936.00 CNY, with a previous close of 7,964.00 CNY [1] Basis Data - The basis data as of April 28 indicates a "backwardation" phenomenon for apple, red date, egg, and live pig contracts [1] - Current spot prices for apples are 8,600 CNY, with futures at 7,910 CNY, resulting in a basis of 690 CNY and a basis rate of 8.02% [1] - Current spot prices for red dates are 9,200 CNY, with futures at 9,070 CNY, resulting in a basis of 130 CNY and a basis rate of 1.41% [1] - Current spot prices for eggs are 3,400 CNY, with futures at 2,988 CNY, resulting in a basis of 412 CNY and a basis rate of 12.12% [1] - Current spot prices for live pigs are 14,869 CNY, with futures at 14,160 CNY, resulting in a basis of 709 CNY and a basis rate of 4.77% [1]

4月24日，商品市场仓单数据显示： | 品种 | 仓单数量 | 增减变化 | | --- | --- | --- | | 橡胶 | 201080 | 0 | | 20号胶 | 72173 | -2420 | | 丁二烯橡胶 | 14340 | 160 | | PTA | 122028 | -2516 | | 短纤 | 2817 | -161 | | 甲醇 | 7305 | -40 | | 乙二醇 | 1450 | 0 | | 聚丙烯 | 4876 | -118 | | 苯乙烯 | 920 | 920 | | 尿素 | 4138 | -25 | | 纯碱 | 6576 | -237 | | 烧碱 | 43 | -6 | | 聚乙烯 | 1514 | 0 | | 玻璃 | 2541 | 0 | | 纸浆 | 301217 | -2280 | 4月25日，国内期市化工板块多数飘红，合成橡胶主力涨幅达3%。截止目前，合成橡胶主力上涨 3.00%，报11495.00元/吨；橡胶主力上涨2.47%，报14960.00元/吨；对二甲苯主力上涨2.31%，报 6286.00元/吨；玻璃主力下跌0.18%，报1139.00元/ ...