Report Industry Investment Rating - Not provided in the given content Core Viewpoints - The CBOT soybean futures are under pressure due to good weather in the US crop area and demand concerns caused by trade tariffs. The domestic continuous meal M09 is expected to maintain a volatile trend, and the spot basis is likely to continue to decline. For the hog market, the short - term supply and demand are slightly increased, in a slightly loose balance state, and the price may be under pressure [16][17] Summary by Directory 1. Market Overview - DCE soybean meal main contract 2509 rose 0.54% to 2966 yuan/ton, with coastal oil mills' quotes up 20 - 50 yuan/ton in some areas but down 10 yuan/ton in Tianjin, Jiangsu, and Guangdong. DCE hog main contract 2509 fell 0.29% to 13560 yuan/ton. The national average ex - factory price of outer ternary hogs was 14.34 yuan/kg, up 0.08 yuan/kg. The overnight CBOT US soybean main contract fell 0.66% to 1061 cents/bushel [2] 2. Main Producing Area Weather - There were showers in the western and southern parts of the US Midwest main producing area last weekend, which was beneficial for crop growth. The cold weather will last until most of this week, and the temperature will rise until June. Some sowing work may be delayed [4] 3. Macro and Industry News - In the 21st week of 2025, the soybean inventory of major domestic oil mills decreased by 4.46% week - on - week, the soybean meal inventory increased by 70.01% week - on - week, and the unexecuted contracts decreased by 17.23% week - on - week. The US soybean import cost on May 27 was 4569 yuan, down 2 yuan from the previous day, and the Argentine soybean import cost was 3590 yuan, up 2 yuan. On May 26, the soybean meal transaction volume of major domestic oil mills decreased by 7.68 tons. The national dynamic full - sample oil mill startup rate was 66.73%, up 2.86%. On May 27, the daily hog slaughter volume of key slaughter enterprises increased by 1.95%, and the daily hog出栏 volume of key breeding enterprises decreased by 0.43%. As of May 24, the 2024/25 Brazilian soybean harvest rate was 99.5%. In the 4th week of May 2025, Brazil's cumulative soybean shipment was 1115.43 tons. As of May 26, the national imported soybean port inventory was 567.068 tons. From January to April, the national large - scale industrial enterprises' total profit increased by 1.4% year - on - year. The probability of the Fed keeping interest rates unchanged in June is 94.4% [5][6][7] 4. Data Charts - The report provides charts of soybean meal, rapeseed meal, hog prices, and their basis, as well as charts of Chinese soybean and soybean meal inventories [10][12][14] 5. Analysis and Strategy - **Soybean Meal**: The CBOT soybean futures are under pressure. The domestic continuous meal M09 is expected to oscillate. The national oil mills maintain a high startup level, and the soybean meal demand increases. The inventory is expected to accumulate faster in June. The spot basis is under pressure to decline [16] - **Hogs**: The supply slightly increases with general pressure, and the mid - term supply pressure tends to increase. The terminal demand decreases, but the demand may increase briefly during the Dragon Boat Festival. The short - term supply and demand are slightly increased, in a slightly loose balance state, and the price may be under pressure [17]

1. Report Industry Investment Rating - No information provided 2. Core View of the Report - The overall black - series commodity futures declined on May 27. The steel price continued to move down, and the market sentiment was pessimistic due to the second - round proposed price cut of coke. The supply of raw coal was strong while the demand was weak, and the market participants were in a wait - and - see state. The coking coal futures were expected to fluctuate weakly in the short term [1] 3. Summary by Relevant Contents Market Overview - On May 27, the black - series commodity futures declined. The rebar closed at 2980 yuan/ton, down 1.23%; the hot - rolled coil closed at 3111 yuan/ton, down 1.33%; the iron ore closed at 698.5 yuan/ton; and the coking coal and coke continued to fall [1] Market Analysis - The steel price continued to decline, and the steel mills proposed a second - round price cut of coke by 50 - 55 yuan/ton. The coke futures price hit a 9 - year low, and the coking coal futures price rebounded after an early - morning decline. After the first - round price cut, the profit of coking enterprises turned negative. Both coking and steel enterprises had a negative attitude towards purchasing raw coal, and the inventory of coking coal in independent coking enterprises decreased by 2.17% to 865.73 million tons. The utilization rate of the approved production capacity of 523 coking coal mines decreased by 3% to 86.3%, the raw coal inventory increased by 18 million tons to 624.8 million tons, and the clean coal inventory increased by 37.1 million tons to 447.5 million tons. The trading volume of coking coal online auctions decreased, with a flow - auction ratio of 51.9%, a 11.9 - percentage - point increase from the previous period [1] Investment Suggestions - For iron ore, pay attention to supply - demand changes and inventory, and avoid chasing high prices. For rebar, investors should take a short - term shock approach and pay attention to the spread between hot - rolled coil and rebar. For hot - rolled coil, investors should take a short - term high - level consolidation approach and pay attention to supply - demand changes. For coking coal and coke, pay attention to the shock market after the decline stabilizes or the strength - weakness relationship between the two [1] Summary - The market supply - demand relationship had no obvious change, and the market sentiment was weak under the expectation of the second - round price cut of coke. The terminal market was in a wait - and - see state, and the seasonal demand was weak. The coking coal futures were expected to fluctuate weakly in the short term [1]

Group 1: Report Industry Investment Rating - No relevant content Group 2: Core Viewpoints of the Report - This week, the high - sulfur cracking was volatile. The 380 near - end ran strongly, the monthly spread strengthened again, and the basis was volatile. The low - sulfur cracking was volatile, the near - end monthly spread declined, and the basis was volatile. This week, there was a significant inventory build - up on land in Singapore, a slight inventory build - up at ARA ports, and a drawdown of residual oil in the US. Recently, the low - sulfur valuation has been realized, and there is room for repair in cracking and inter - monthly spreads after supply recovery. The high - sulfur cracking ran strongly, with profits higher than the historical average. This year, in China, affected by consumption tax deductions and tariff adjustments, the feedstock demand of fuel oil refineries has significantly declined. In terms of marine fuel, the global high - sulfur marine fuel from January to March increased by 2% year - on - year, and Singapore was basically flat. The total marine fuel was weaker year - on - year. Subsequently, the impact of tariffs on global trade activities should be monitored. Recently, Saudi Arabia's net imports have rebounded, and Egypt's purchases have continued. The high - sulfur near - end is strong. Opportunities for the decline of high - sulfur cracking in the medium and long term should be monitored [5][6] Group 3: Summary by Related Catalogs Rotterdam Fuel Oil Swap Data - From May 20th to May 26th, 2025, for Rotterdam's 3.5% HSFO swap M1, the price changed from 407.23 to 401.31, a decrease of 4.33; for Rotterdam's 0.5% VLSFO swap M1, it changed from 446.09 to 447.03, a decrease of 2.24; for Rotterdam's HSFO - Brent M1, it changed from - 0.27 to - 0.94, a decrease of 0.50; for Rotterdam's 10ppm Gasoil swap M1, it changed from 588.04 to 585.92, a decrease of 2.40; for Rotterdam's VLSFO - GO M1, it changed from - 141.95 to - 138.89, an increase of 0.16; for LGO - Brent M1, it changed from 15.90 to 16.20, a decrease of 0.30; for Rotterdam's VLSFO - HSFO M1, it changed from 38.86 to 45.72, an increase of 2.09 [3] Singapore Fuel Oil Swap and Spot Data - Swap data: From May 20th to May 26th, 2025, for Singapore's 380cst M1, the price changed from 431.93 to 424.98, a decrease of 1.56; for Singapore's 180cst M1, it changed from 438.43 to 431.23, a decrease of 1.68; for Singapore's VLSFO M1, it changed from 485.73 to 484.07, an increase of 4.57; for Singapore's GO M1, it changed from 79.88 to 79.00, an increase of 0.77; for Singapore's 380cst - Brent M1, it changed from 3.21 to 2.50, a decrease of 1.24; for Singapore's VLSFO - GO M1, it changed from - 105.38 to - 100.53, a decrease of 1.13 [3] - Spot data: From May 20th to May 26th, 2025, for Singapore's FOB 380cst, the price changed from 434.71 to 430.07, an increase of 1.27; for FOB VLSFO, it changed from 498.93 to 493.11, an increase of 3.07; the 380 basis changed from - 0.25 to 7.15, an increase of 5.65; the high - sulfur internal - external spread changed from 9.6 to 8.8, a decrease of 0.6; the low - sulfur internal - external spread changed from 12.2 to 13.1, a decrease of 1.2 [4] Domestic Fuel Oil Futures Data - FU data: From May 20th to May 26th, 2025, for FU 01, the price changed from 2722 to 2681, a decrease of 11; for FU 05, it changed from 2662 to 2627, a decrease of 11; for FU 09, it changed from 2874 to 2836, an increase of 3; FU 01 - 05 remained unchanged at 54; FU 05 - 09 changed from - 212 to - 209, a decrease of 14; FU 09 - 01 changed from 152 to 155, an increase of 14 [4] - LU data: From May 20th to May 26th, 2025, for LU 01, the price changed from 3390 to 3360, an increase of 2; for LU 05, it changed from 3314 to 3285, a decrease of 6; for LU 09, it changed from 3445 to 3431, an increase of 26; LU 01 - 05 changed from 76 to 75, an increase of 8; LU 05 - 09 changed from - 131 to - 146, a decrease of 32; LU 09 - 01 changed from 55 to 71, an increase of 24 [5]

Report Summary Core Views - PTA market: The maintenance of PX units has ended, and the supply of PX has increased. The basis of PTA has weakened, and the long - position spread has declined. There is selling pressure in the spot market, and polyester factories may reduce production slightly [2]. - Ethylene glycol market: The port inventory of ethylene glycol in East China remains at over 700,000 tons. The load of coal - based ethylene glycol units has increased, but the coal price has risen, and the mainstream units are about to be overhauled, leading to future inventory reduction [2]. - Polyester filament: Three major polyester filament manufacturers have decided to reduce production of loss - making products immediately and plan further production cuts in the short term due to the rapid rise in raw material prices [3]. Market Data Summary 1. Price and Spread - INE crude oil price dropped from 453.7 yuan/barrel on May 22, 2025, to 452.8 yuan/barrel on May 23, 2025, a decrease of 0.90 yuan/barrel [2]. - PTA - SC spread increased from 1404.9 yuan/ton to 1425.5 yuan/ton, an increase of 20.54 yuan/ton; PTA/SC ratio rose from 1.4261 to 1.4332, an increase of 0.0071 [2]. - CFR China PX price increased from 823 to 826, an increase of 3; PX - naphtha spread rose from 246 to 266, an increase of 19 [2]. - PTA futures price rose from 4702 yuan/ton to 4716 yuan/ton, an increase of 14 yuan/ton; PTA spot price increased from 4860 to 4875, an increase of 15 yuan/ton [2]. - PTA spot processing fee increased from 382.5 yuan/ton to 395.2 yuan/ton, an increase of 12.7 yuan/ton; PTA futures processing fee decreased from 234.5 yuan/ton to 231.2 yuan/ton, a decrease of 3.3 yuan/ton [2]. - MEG futures price dropped from 4411 yuan/ton to 4403 yuan/ton, a decrease of 8 yuan/ton; MEG domestic price increased from 4501 to 4525, an increase of 24 yuan/ton [2]. - MEG - naphtha spread increased from (79.34) yuan/ton to (78.53) yuan/ton, an increase of 0.8 yuan/ton [2]. 2. Basis - PTA basis increased from 126 to 151, an increase of 25; MEG basis increased from 88 to 100, an increase of 12 [2]. 3. Inventory - PTA warehouse receipts decreased from 57,158 to 56,566, a decrease of 592 [2]. 4. Operating Rates - PX operating rate remained at 77.29%; PTA operating rate remained at 78.25%; MEG operating rate remained at 50.00%; polyester load remained at 91.11% [2]. 5. Product Cash Flows and Sales Ratios - In polyester filament, POY, FDY, and DTY cash flows decreased by 21 yuan/ton, and the sales ratio remained at 33% [2]. - In polyester staple fiber, the cash flow decreased from 97 to 76 yuan/ton, a decrease of 21 yuan/ton, and the sales ratio increased from 48% to 60%, an increase of 12% [2]. - In polyester chips, the cash flow decreased from (98) to (129) yuan/ton, a decrease of 31 yuan/ton, and the sales ratio increased from 23% to 39%, an increase of 16% [2].

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints No clear core viewpoints were presented in the given reports. The documents mainly contain various data and statistics about different financial markets, including stock index futures, bonds, precious metals, shipping, and more. 3. Summary by Related Catalogs Stock Index Futures - **IF期现价差**: Latest value -36.07, changed -1.81 from the previous day, 10.60% in the past 1 - year and 8.50% in the full - history percentile [1]. - **IH期现价差**: Latest value -18.85, changed -0.62, 15.10% in the past 1 - year and 9.70% in the full - history percentile [1]. - **IC期现价差**: Latest value -91.24, changed -2.76, 9.00% in the past 1 - year and 4.10% in the full - history percentile [1]. - **IM期现价差**: Latest value -117.68, changed -1.57, 75.00% in the past 1 - year and 6.70% in the full - history percentile [1]. Bond Futures - **TS基差**: On 2025 - 05 - 23, IRR 1.9009, latest value -0.1019, changed -0.0307, 45.60% of the percentile since listing [4]. - **TF基差**: On 2025 - 05 - 23, IRR 2.0022, latest value 0.2085, changed -0.0838, 57.00% of the percentile since listing [4]. - **T基差**: On 2025 - 05 - 23, IRR 1.8206, latest value 0.2388, changed -0.0137, 62.40% of the percentile since listing [4]. - **TL基差**: On 2025 - 05 - 23, IRR 1.6735, latest value 0.4568, changed 0.0019, 57.40% of the percentile since listing [4]. Precious Metals - **London Silver**: Price 33.48, up 0.44 (1.34%) [11]. - **Shanghai Gold Exchange Gold T + D**: Price 775.72, down 2.05 (-0.26%) [11]. - **Shanghai Gold Exchange Silver T + D**: Price 8244, down 24 (-0.29%) [11]. Shipping Industry - **Port - related Indicators (Shanghai)**: Port on - time rate in April was 29.02, down 4.41 (-13.19%) from March; port calls were 317, down 15 (-4.52%); monthly export value was 3156.92 billion US dollars, up 20.33 (0.65%) [14][16]. - **Overseas Economic Indicators**: Eurozone manufacturing PMI in April was 49.50, down 0.90 (-1.79%) from March; EU consumer confidence index was - 14.50, up 1.50 (9.38%); US manufacturing PMI was 48.70, down 0.30 (-0.61%) [14][16]. Data and Information - **Overseas**: US exchanges were closed for one day; Brazil released secex weekly report [18]. - **Domestic**: Information on global manganese ore shipments, arrivals, port manganese ore inventories, iron ore shipments and arrivals, SMM electrolytic copper social inventory, etc. were reported [18].

2025 年 5 月 26 日 品 研 究 焦炭：累库延续，震荡偏弱 焦煤：累库延续，震荡偏弱 | | | | 昨日收盘价(元/吨) | 涨跌(元/吨) | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | | | JM2509 | 801.5 | -26 | -3.14% | | 期货价格 | | J2509 | 1383 | -23.5 | -1.67% | | | | | 昨日成交(手) | 昨日持仓(手) | 持仓变动(手) | | | | JM2509 | 491253 | 521877 | 27491 | | | | J2509 | 25439 | 55648 | 940 | | | | 临汾低硫主焦 | 昨日价格(元/吨) 1230 | 前日价格(元/吨) 1230 | 涨跌(元/吨) | | | 焦蝶 | | | | | | | | 金泉蒙5精煤自提价 | 970 | 970 | 0 0 | | | | 吕梁低硫主焦 | 1200 | 1200 | 0 | | | | 峰景折人民币 | 1651 | 1659 | -8 | | 现货价格 | 焦煤仓单 ...

Report Industry Investment Rating - Not provided in the report Core Viewpoints - The report presents the daily arbitrage data of various futures products on May 26, 2025, including power coal, energy chemicals, black metals, non - ferrous metals, agricultural products, and stock index futures, aiming to provide data support for investors' trading decisions [1][5][15][24][40][47] Summary by Directory 1. Power Coal - **Base Difference Data**: From May 19 to May 23, 2025, the base difference of power coal was - 189.4 yuan/ton on May 19 and - 190.4 yuan/ton from May 20 to May 23; the differences between May - January, September - January, and September - May were all 0 [2] 2. Energy Chemicals Energy Commodities - **Base Difference and Ratio Data**: From May 19 to May 23, 2025, the base difference of INE crude oil ranged from - 11.31 to - 5.39 yuan/ton; the base difference of fuel oil was 101.32 yuan/ton on May 22, and other data were not provided; the ratio of crude oil to asphalt ranged from 0.1290 to 0.1329 [6] Chemical Commodities - **Base Difference Data**: For various chemical products such as natural rubber, methanol, PTA, etc., the base differences showed different values from May 19 to May 23, 2025. For example, the base difference of natural rubber was - 5 yuan/ton on May 19 and 165 yuan/ton on May 23 [11] - **Inter - period Data**: The inter - period differences of various chemical products, such as the differences between May - January, September - January, and September - May, also had different values. For example, the difference between May - January of natural rubber was 90 yuan/ton [11] - **Inter - variety Data**: The inter - variety differences of various chemical products, such as LLDPE - PVC, LLDPE - PP, etc., also showed different values from May 19 to May 23, 2025 [11] 3. Black Metals - **Base Difference Data**: From May 19 to May 23, 2025, the base differences of rebar, iron ore, coke, and coking coal showed different values. For example, the base difference of rebar was 111.0 yuan/ton on May 19 and 114.0 yuan/ton on May 23 [16] - **Inter - period Data**: The inter - period differences of rebar, iron ore, coke, and coking coal, such as the differences between May - January, September - January, and September - May, also had different values [16] - **Inter - variety Data**: The inter - variety data such as the ratio of rebar to iron ore, rebar to coke, etc., also showed different values from May 19 to May 23, 2025 [16] 4. Non - ferrous Metals Domestic Market - **Base Difference Data**: From May 19 to May 23, 2025, the base differences of copper, aluminum, zinc, lead, nickel, and tin in the domestic market showed different values. For example, the base difference of copper was 310 yuan/ton on May 19 and 350 yuan/ton on May 23 [25] - **LME Data**: On May 23, 2025, the LME premium or discount, Shanghai - London ratio, CIF price, domestic spot price, and import profit and loss of various non - ferrous metals were provided [31] London Market - **LME Base Difference, Shanghai - London Ratio, and Import Profit and Loss Data**: Data on LME base difference, Shanghai - London ratio, and import profit and loss of various non - ferrous metals were presented [31] 5. Agricultural Products - **Base Difference Data**: From May 19 to May 23, 2025, the base differences of various agricultural products such as soybeans, soybean meal, and corn showed different values [40] - **Inter - period Data**: The inter - period differences of various agricultural products, such as the differences between May - January, September - January, and September - May, also had different values [40] - **Inter - variety Data**: The inter - variety data such as the ratio of soybeans to corn, soybean oil to soybean meal, etc., also showed different values from May 19 to May 23, 2025 [40] 6. Stock Index Futures - **Base Difference Data**: From May 19 to May 23, 2025, the base differences of CSI 300, SSE 50, CSI 500, and CSI 1000 showed different values. For example, the base difference of CSI 300 was 33.95 on May 19 and 36.07 on May 23 [48] - **Inter - period Data**: The inter - period differences of CSI 300, SSE 50, CSI 500, and CSI 1000, such as the differences between the next - month and the current - month, the current - quarter and the current - month, etc., also had different values [48]

Report Summary 1. Industry Investment Rating No industry investment rating is provided in the report. 2. Core View No clear core view is presented in the given content. The report mainly provides a comprehensive set of data on asphalt - related market indicators, including prices, volumes, spreads, and profits. 3. Summary by Categories Futures Contracts - BU主力合约 price on 5/22 was 3539, with a daily change of 20 and a weekly change of 18 [4]. - BU06 price on 5/22 was 3555, with a daily change of 15 and a weekly change of 31 [4]. - BU09 price on 5/22 was 3481, with a daily change of 6 and a weekly change of 34 [4]. - BU12 price on 5/22 was 3301, with a daily change of 11 and a weekly change of 34 [4]. - BU03 price on 5/22 was 3250, with a daily change of T and a weekly change of - 6 [4]. - Futures trading volume on 5/22 was 381836, with a daily change of 42169 and a weekly change of 93530 [4]. - Futures open interest on 5/22 was 419968, with a daily change of 18789 and a weekly change of 53795 [4]. Spot Market - Shandong market low - end price remained at 3450 on 5/22, with no daily or weekly change [4]. - East China market low - end price was 3520 on 5/22, with no daily change and a weekly change of 20 [4]. - South China market low - end price remained at 3380 on 5/22, with no daily or weekly change [4]. - North China market low - end price was 3570 on 5/22, with no daily change and a weekly change of 20 [4]. - Northeast market low - end price remained at 3700 on 5/22, with no daily or weekly change [4]. Basis and Calendar Spreads - Shandong basis on 5/22 was - 89, with a daily change of - 20 and a weekly change of - 18 [4]. - East China basis on 5/22 was - 19, with a daily change of - 20 and a weekly change of 2 [4]. - South China basis on 5/22 was - 159, with a daily change of - 20 and a weekly change of - 18 [4]. - 03 - 06 spread on 5/22 was - 302, with a daily change of - 14 and a weekly change of - 37 [4]. - 06 - 09 spread on 5/22 was 71, with a daily change of 9 and a weekly change of - 3 [4]. - 09 - 12 spread on 5/22 was 180, with a daily change of - 5 and no weekly change [4]. - 12 - 03 spread on 5/22 was 51, with a daily change of 10 and a weekly change of 40 [4]. Crack Spreads and Profits - Asphalt Brent crack spread on 5/22 was 37, with a daily change of ટર and a weekly change of - 20 [4]. - Ordinary refinery comprehensive profit on 5/22 was 457, with a daily change of 26 and a weekly change of - 2 [4]. - Ma Rui - type refinery comprehensive profit on 5/22 was 81, with a daily change of 24 and a weekly change of - 3 [4]. - Import profit (South Korea - East China) on 5/22 was - 108, with no daily change and a weekly change of 18 [4]. - Import profit (Singapore - South China) on 5/22 was - 1015, with no daily or weekly change [4]. Related Prices - Brent crude oil price on 5/22 was 64.9, with a daily change of - 0.5 and a weekly change of 0.4 [4]. - Gasoline Shandong market price on 5/22 was 7415, with a daily change of 10 and a weekly change of - 49 [4]. - Diesel Shandong market price on 5/22 was 6431, with a daily change of 12 and a weekly change of 8 [4]. - Residue oil Shandong market price on 5/22 was 3795, with no daily change and a weekly change of - 5 [4].

| | | | | 燃料油早报 | | 研究中心能化团队 2025/05/23 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 燃 料 油 | | | | | | | | | 日期 | 鹿特丹3.5% HSF | 鹿特丹0.5% VLS | 鹿特丹HSFO-Br | 鹿特丹10ppm G | 鹿特丹VLSFO-G | LGO-Brent M1 | 鹿特丹VLSFO-H | | | O掉期 M1 | FO掉期 M1 | ent M1 | asoil掉期 M1 | O M1 | | SFO M1 | | 2025/05/16 | 402.97 | 447.36 | -1.01 | 595.17 | -147.81 | 16.77 | 44.39 | | 2025/05/19 | 407.04 | 446.85 | -0.62 | 593.82 | -146.97 | 16.37 | 39.81 | | 2025/05/20 | 407.23 | 446.09 | -0.27 | 588.04 | -141.95 | 15.90 | 38.86 | | ...

2025年05月23日 国泰君安期货商品研究晨报-黑色系列 观点与策略 | 铁矿石：短期利多兑现，上涨驱动放缓 | 2 | | --- | --- | | 螺纹钢：宽幅震荡 | 3 | | 热轧卷板：宽幅震荡 | 3 | | 硅铁：黑色板块共振，硅铁宽幅震荡 | 5 | | 锰硅：短期情绪冲高，锰硅走势偏强 | 5 | | 焦炭：底部震荡 | 7 | | 焦煤：底部震荡 | 7 | | 动力煤：煤矿库存增加，震荡偏弱 | 9 | | 原木：弱势震荡 | 10 | 国 泰 君 安 期 货 研 究 所 请务必阅读正文之后的免责条款部分 1 期货研究 商 品 研 究 商 品 研 究 2025 年 5 月 23 日 铁矿石：短期利多兑现，上涨驱动放缓 张广硕 投资咨询从业资格号：Z0020198 zhangguangshuo@gtht.com 【基本面跟踪】 铁矿石趋势强度：-1 注：趋势强度取值范围为【-2,2】区间数。强弱程度分类如下：弱、偏弱、中性、偏强、强，-2 表示 最看空，2 表示最看多。 国 泰 君 安 期 货 研 究 所 请务必阅读正文之后的免责条款部分 1 铁矿石基本面数据 | | | | 昨日收盘 ...