1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - In the polyolefin industry, oil price surges suppress the cost - end, profits are compressed to the lowest level of the year, and inventories are differentiated. PE is recommended for positive spreads, while PP is recommended for short - positions in the medium - term [21]. - In the methanol industry, due to geopolitical conflicts, the market has a strong long - position sentiment. Short - term strategies are recommended for positive spreads, and it is necessary to track the situation in Iran and MTO dynamics [30]. - In the PVC and caustic soda industry, caustic soda supply still exerts pressure, demand is weak, and there are inventory risks. PVC has short - term price increases but long - term supply - demand contradictions. It is recommended to wait and see in the short - term and take short - positions in the medium - term [32][35]. - In the urea industry, the short - term futures market is affected by rising Middle - East FOB prices and domestic factory export orders. The market is expected to be in high - level oscillations, with a bullish bias [38]. - In the styrene industry, short - term geopolitical factors drive prices up, but there is a possibility of supply - demand weakening. It is recommended to wait and see in the short - term and look for short - position opportunities in the medium - term [43]. - In the polyester industry, PX, PTA, ethylene glycol, short - fiber, and bottle - chip have different supply - demand situations. Strategies vary from short - term strength to long - term supply - demand balance adjustments [47]. - In the crude oil industry, geopolitical premiums have declined, and the market is likely to continue high - level oscillations in the short - term. It is recommended to wait and see on the spot side and capture volatility - narrowing opportunities on the options side [52]. 3. Summaries According to Relevant Catalogs Polyolefin Industry - **Prices**: L2601, L2509, PP2601, and PP2509 closing prices all increased on June 18 compared to June 17, with increases ranging from 1.25% to 1.38% [21]. - **Inventory**: PE enterprise inventory decreased by 1.83%, and social inventory decreased by 4.56%. PP enterprise inventory increased by 4.52%, and trader inventory increased by 5.31% [21]. - **Operation Rate**: PE device operation rate increased by 2.27%, and downstream weighted operation rate decreased by 1.00%. PP device operation rate increased by 2.1%, and powder operation rate decreased by 1.3% [21]. Methanol Industry - **Prices**: MA2601 and MA2509 closing prices increased on June 18 compared to June 17, with increases of 1.83% and 2.53% respectively. Port prices increased significantly [30]. - **Inventory**: Methanol enterprise inventory decreased by 3.10%, port inventory decreased by 10.09%, and social inventory decreased by 7.52% [30]. - **Operation Rate**: Upstream domestic enterprise operation rate increased by 0.83%, and downstream external - procurement MTO device operation rate increased by 0.85% [30]. PVC and Caustic Soda Industry - **Prices**: PVC and caustic soda futures and spot prices had different changes on June 18 compared to June 17. Caustic soda export profit increased significantly, while PVC export profit decreased [32]. - **Supply**: Caustic soda industry operation rate decreased by 2.6%, and PVC total operation rate data was unavailable. PVC external - procurement calcium carbide method profit increased by 5.5% [33]. - **Demand**: Alumina industry operation rate increased by 2.0%, and PVC downstream product operation rates generally decreased [34][35]. - **Inventory**: Caustic soda had inventory differentiation, with East China de - stocking and Shandong stocking. PVC upstream factory inventory decreased by 0.4%, and total social inventory decreased by 1.8% [35]. Urea Industry - **Prices**: Urea futures prices had different changes on June 18 compared to June 17. Spot prices in different regions also had slight fluctuations [38]. - **Supply**: Domestic urea daily output increased by 1.00%, and production factory operation rate increased by 1.00% [38]. - **Inventory**: Domestic urea factory inventory decreased by 3.49%, and port inventory remained unchanged [38]. Styrene Industry - **Raw Material Prices**: Prices of Brent crude oil, CFR Japan naphtha, CFR Northeast Asia ethylene, and CFR China pure benzene all increased on June 18 compared to June 17 [40]. - **Styrene Prices**: Styrene East China spot price and futures prices increased on June 18 compared to June 17 [41]. - **Operation Rate and Inventory**: Domestic pure benzene comprehensive operation rate increased by 2.9%, styrene operation rate increased by 2.1%. Port inventories of pure benzene and styrene decreased [43]. Polyester Industry - **Prices**: Prices of polyester products such as POY, FDY, DTY, and polyester chips increased on June 18 compared to June 17. PX, PTA, and MEG prices also had different changes [47]. - **Operation Rate**: Asian and Chinese PX operation rates, PTA operation rate, and MEG comprehensive operation rate had different changes [47]. - **Inventory**: MEG port inventory decreased, and PTA and MEG inventories had different trends [47]. Crude Oil Industry - **Prices**: Brent, WTI, and SC crude oil prices had different changes on June 19 compared to June 18. Product oil prices and cracking spreads also had fluctuations [52]. - **Inventory**: EIA data showed that last week's US crude oil inventory unexpectedly decreased, far exceeding market expectations [52]. - **Market Outlook**: Geopolitical premiums have declined, and the market is expected to continue high - level oscillations in the short - term [52].

| 股指期货价差日报 | 投资咨询业务资格:证监许可【2011】1292号 | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Z0016628 | 叶倩宁 | 2025年6月18日 | 品种 | 最新值 | 历史1年分位数 | 全历史分位数 | | | | | | | | | | | 机关 | 较前一日变化 | 2.22 | IF期现价差 | -1.78 | 65.90% | 55.90% | | | | | | | | | | | H期现价差 | 3.46 | 38.90% | 42.70% | -3.15 | 期现价差 | 89.30% | 81.10% | IC期现价差 | -2.51 | 9.10 | -11.47 | IM期现价差 | 8.59 | 90.00% | 62.70% | | 1.20% | 次月-崇月 | -41.00 | 0.00 | 6.70% | 11.80% | 委員-录 ...

Group 1: Stock Index Futures Spread Daily Report Core View - Presents the latest values, changes from the previous day, and historical percentiles of various stock index futures spreads and cross - variety ratios [1] Summary by Directory - **Futures - Spot Spread**: IF is - 7.78 (41.80% 1 - year, 40.00% all - time), IH is - 11.23 (- 2.16 change, 25.40% 1 - year, 19.50% all - time), IC is - 11.24 (8.69 change, 77.00% 1 - year, 67.00% all - time), IM is - 21.81 (13.61 change, 90.00% 1 - year, 48.30% all - time) [1] - **Inter - Delivery Spread**: For different contracts like next - month vs. current - month, season - month vs. current - month, far - month vs. current - month, values and changes are provided for IF, IH, IC, and IM [1] - **Cross - Variety Ratio**: Such as CSI 500/CSI 300 = 1.4855 (- 0.0046 change, 60.20% 1 - year, 41.10% all - time), IC/IF = 1.4856 (- 0.0027 change, 64.70% 1 - year, 59.30% all - time), etc. [1] Group 2: Treasury Bond Futures Spread Daily Report Core View - Shows the latest values, changes from the previous trading day, and percentiles since listing of various treasury bond futures spreads and basis [4] Summary by Directory - **Basis**: TS basis has an IRR of 1.7719 (- 0.0506 change, 33.90% percentile), TF basis has an IRR of 1.8376 (- 0.0358 change, 51.80% percentile), etc. [4] - **Inter - Delivery Spread**: For different contracts like current - season vs. next - season, values and changes are provided for TS, TF, T, and TL [4] - **Cross - Variety Spread**: Such as TS - TF = - 3.7110 (- 0.0300 change, 2.00% percentile), TF - T = - 2.8450 (0.0250 change, 1.40% percentile), etc. [4] Group 3: Precious Metals Spot - Futures Daily Report Core View - Provides information on domestic and foreign futures closing prices, spot prices, basis, price ratios, interest rates, exchange rates, inventory, and positions of precious metals [7] Summary by Directory - **Futures Closing Prices**: Domestic AU2508 contract is 794.36 yuan/g (1.17% increase), AG2508 contract is 8791 yuan/kg (- 0.32% decrease); foreign COMEX gold is 3452.60 dollars/ounce (1.36% increase), COMEX silver is 36.37 dollars/ounce (- 0.11% decrease) [7] - **Spot Prices**: London gold is 3433.35 dollars/ounce (1.40% increase), London silver is 36.29 dollars/ounce (- 0.13% decrease), etc. [7] - **Basis**: Gold TD - Shanghai gold main contract is - 3.50 (1.30 change, 12.40% 1 - year percentile), silver TD - Shanghai silver main contract is 2 (- 49 previous, 91.10% 1 - year percentile) [7] - **Price Ratios**: COMEX gold/silver is 94.93 (1.37 change, 1.47% increase), Shanghai Futures Exchange gold/silver is 90.36 (1.33 change, 1.49% increase) [7] - **Interest Rates and Exchange Rates**: 10 - year US Treasury yield is 4.41% (1.1% increase), 2 - year US Treasury yield is 3.96% (1.5% increase), etc. [7] - **Inventory and Positions**: Shanghai Futures Exchange gold inventory is 18177 kg (1.85% increase), COMEX silver inventory is 498460011 (0.05% increase), etc. [7] Group 4: Container Shipping Industry Spot - Futures Daily Report Core View - Displays spot quotes, index changes, futures prices, basis, and fundamental data of the container shipping industry [11][12] Summary by Directory - **Spot Quotes**: Shanghai - Europe future 6 - week freight rates for MAERSK is 2796 dollars/FEU (- 2.03% decrease), CMA is 3857 dollars/FEU (1.88% increase), etc. [12] - **Index Changes**: SCFIS (European route) is 1622.81 points (29.53% increase), SCFI comprehensive index is 2088.24 (- 6.79% decrease) [11] - **Futures Prices and Basis**: EC2602 is 1472.8 (2.07% increase), EC2508 (main contract) is 2068.0 (4.20% increase), basis (main contract) is - 315.1 (374.1 change, - 54.28% change) [11] - **Fundamental Data**: Global container shipping capacity supply is 3247.12 million TEU (0.00% change), Shanghai port on - time rate is 42.50 (46.45% increase), etc. [11] Group 5: Trading Calendar Core View - Lists overseas and domestic data and information sources and corresponding economic indicators or financial events [13] Summary by Directory - **Overseas Data/Info**: In the agricultural product sector, includes Brazil Secex weekly report, USDA crop growth and export inspection in the US, NOPA soybean crushing [13] - **Domestic Data/Info**: For macro data, includes 70 - city housing price report, national economic operation press conference, etc.; for different commodities like iron ore, black and non - ferrous metals, energy chemicals, etc., specific data such as shipments, inventories are provided [13]

Report Summary I. Report Industry Investment Rating No information about the report industry investment rating is provided in the given documents. II. Report Core Views The reports cover multiple futures markets, including stock index futures, treasury bond futures, precious metal futures, and container shipping futures, presenting the latest values, changes, historical quantiles of various spreads, prices, and related data, as well as some fundamental information and economic indicators. III. Summary by Related Catalogs 1. Stock Index Futures Spread Daily Report - **Price Difference Data**: The report shows the latest values, changes from the previous day, 1 - year historical quantiles, and full - historical quantiles of various price differences of IF, IH, IC, and IM, such as the spot - futures price difference, inter - period price difference, and cross - variety price ratio. For example, the IF spot - futures price difference is - 7.78, with a 1 - year historical quantile of 41.80% and a full - historical quantile of 40.00% [1]. - **Cross - Variety Ratio**: It also provides the cross - variety ratios and their changes, such as the ratio of CSI 500 to SSE 50, which is 2.1447, with a change of - 0.0104, a 1 - year historical quantile of 54.90%, and a full - historical quantile of 38.30% [1]. 2. Treasury Bond Futures Spread Daily Report - **Basis and Spread Data**: The report presents the IRR, latest values, changes from the previous trading day, and listing - since percentiles of various basis and spreads of TS, TF, T, and TL. For example, the TS basis on 2025 - 06 - 13 is 1.7719, with a change of - 0.0506 and a listing - since percentile of 33.90%. It also includes inter - period spreads and cross - variety spreads [4]. 3. Precious Metal Spot - Futures Daily Report - **Price Data**: It shows the domestic and foreign futures closing prices, spot prices, basis, price ratios, interest rates, exchange rates, inventory, and positions of precious metals. For example, the AU2508 contract closed at 794.36 yuan/g on June 13, up 9.20 yuan or 1.17% from the previous day. The basis of gold TD - Shanghai gold main contract is - 3.50, with a change of 1.30 and a 1 - year historical quantile of 12.40% [7]. 4. Container Shipping Industry Spot - Futures Daily Report - **Spot and Futures Price**: The report provides the spot quotes of Shanghai - Europe shipping rates, the settlement price index of container shipping, futures prices, and basis. For example, the SCFIS (European route) settlement price index on June 9 is 1622.81 points, up 370.0 points or 29.53% from June 2. The EC2508 (main contract) futures price on June 13 is 2068.0, up 83.3 or 4.20% from the previous day [11][12]. - **Fundamental Data**: It also includes the supply of container shipping capacity, foreign trade - related indicators, and overseas economic indicators. For example, the global container shipping capacity supply on June 16 is 3247.12 million TEU, with a 0.00% change from the previous day. The port on - time rate in Shanghai in May is 42.50%, up 46.45% from April [11]. 5. Trading Calendar - **Data and Events**: The report lists overseas and domestic data sources and economic indicators or financial events, including agricultural products, macro - data, iron ore, black and non - ferrous metals, energy chemicals, and other sectors [13].

| 股指期货价差日报 | | | | | | | --- | --- | --- | --- | --- | --- | | 投资咨询业务资格:证监许可【2011】1292号 | | | | | | | 2025年6月12日 | | | | 叶倩宁 | Z0016628 | | 价差 | 品种 | 最新值 | 较前一日变化 | 历史1年分位数 | 全历史分位数 | | | F期现价差 | -15.83 | 8.64 | 29.90% | 26.60% | | 期现价差 | H期现价差 | -9.74 | 6.66 | 26.60% | 23.10% | | | IC期现价差 | -31.75 | 8.05 | 38.10% | 39.20% | | | IM期现价差 | -42.51 | 5.38 | 90.00% | 29.00% | | | 次月-当月 | -39.40 | -2.60 | 2.80% | 7.40% | | | 季月-当月 | -66.60 | 0.60 | 13.10% | 16.30% | | | 远月-当月 | -93.00 | 2.80 | 16.80% | 20.50% | | ...

| 股指期货价差日报 | | --- | | 投资咨询业务资格:证监许可【2011】1292号 Z0016628 2025年6月10日 叶倩宁 | | 价号 品种 匿新值 历史1年分位数 全历史分位数 较前一日变化 | | IE潮ூ役装 -17.45 1.14 28.60% 24.40% | | 期现价差 IC開现价差 -39.25 -2.58 27.00% 30.70% | | 次月-当月 -35.60 1.80 7.30% 9 30% | | 零月-当月 -65.40 6.60 13.1096 16.60% 元月-景月 -97.80 11.60 15,50% 19.40% | | F跨期价差 李月-次月 -29.80 4.80 14.70% 21.80% | | 远月-次月 -62.20 9.80 27.00% 24.80% | | 远月-李月 -32.40 5,00 32.30% 26.20% | | 次月-当月 -30.60 0.20 6.10% 6.10% -35.20 2.00 13.90% 17.00% 李目-景月 | | 远月-崇月 -34.00 4.20 30.30% 34.30% H跨期价 ...

请务必阅读正文之后的免责条款部分 EVERBRIGHT FUTURES 1 | | 虽然期货盘面价格上涨，但大豆盘面榨利差，油厂进口积极性低。期货的强势与 进口成本走高，远期供应担忧有关。操作上，豆粕 91、15 正套持有，单边多头 | | | --- | --- | --- | | | 思路。 | | | | 周一，BMD 棕榈油震荡运行，市场等待 MPOB 报告指引。之前一项调查显示， 尽管出口需求旺盛，但受到产量温和复苏推动，马来西亚 5 月棕榈油库存预计攀 升至 201 万吨，环比上涨 7.74%。其中产量环比增长 3%至 174 万吨。原油价格偏 | | | 油脂 | 强运行，因地缘紧张加剧和美国经济数据好于预期。国内方面，油脂期价偏强运 | 震荡 | | | 行。棕榈油和豆油的涨幅超过菜籽油，蛋白粕走势强于油脂。库存方面，油脂库 | | | | 存稳中增加，大豆压榨量增加是主要原因，其次是油脂需求平淡，国内供应宽松 | | | | 预期持续。操作上，短线参与，豆油和棕榈油买 9 卖 1。 | | | | 周一，鸡蛋期货下跌，主力 2507 合约下跌后低位震荡，尾盘小幅回收，日收跌 | | | | ...

Report Summary 1. Investment Ratings - No investment ratings for the industries are provided in the reports. 2. Core Views - The reports present a comprehensive analysis of various financial products including stock index futures, treasury bond futures, precious metals futures, container shipping index futures, and provide relevant market data, such as price changes, spreads, ratios, and inventory information. 3. Summary by Category Stock Index Futures - **IF, IH, IC, IM期现价差**: The current - spot price spreads of IF, IH, IC, and IM are -26.34, -17.22, -50.21, and -69.17 respectively, with changes of 0.87, 1.47, 6.23, and 2.86 compared to the previous day [1]. - **跨期价差**: Different contracts' inter - period spreads show various changes, such as the IF's "次月 - 当月" spread being -39.20 with a change of -2.00 [1]. - **跨品种比值**: Ratios like "中证500/沪深300" are 1.4834 with a change of 0.0050 [1]. Treasury Bond Futures - **基差**: The basis of TS, TF, T, and TL are -0.0786, -0.0235, -0.0580, and 0.5351 respectively, with changes of -0.0045, -0.0060, -0.0811, and 0.1237 compared to the previous day [4]. - **跨期价差**: For example, the "当季 - 下季" spread of TS is -0.1480 with a change of -0.0200 [4]. - **跨品种价差**: The "TS - TF" spread is -3.6390 with a change of -0.0310 [4]. Precious Metals Futures - **期货收盘价**: The domestic AU2508 contract closed at 782.42 yuan/gram, down 0.09% from the previous day, and the AG2508 contract closed at 8463 yuan/kg, up 0.08% [8]. - **外盘期货收盘价**: COMEX gold closed at 3397.40 dollars/ounce, up 0.61%, and COMEX silver closed at 34.66, down 0.06% [8]. - **现货价格**: London gold was at 3371.89 dollars/ounce, up 0.57%, and London silver was at 34.46, down 0.12% [8]. - **基差 and 比价**: The "黄金TD - 沪金主力" basis is -2.74, and the "COMEX金/银" ratio is 98.03, up 0.67% [8]. Container Shipping Index Futures - **结算价指数**: SCFIS (European route) was 1252.82 points, up 0.46%, and SCFIS (US West route) was 1718.11, down 0.10% [12]. - **期货价格及基差**: The EC2508 (主力) contract closed at 2199.1, up 4.71%, and the basis (主力) was -717.5, down 10.88% [12]. - **基本面数据**: Global container shipping capacity supply remained unchanged at 3242.11 million TEU, and Shanghai's port punctuality rate decreased by 13.19% [12]. Data and Information - **海外数据/资讯**: It includes economic indicators such as the US initial jobless claims, trade balance, and European Central Bank's interest rates [15]. - **国内数据/资讯**: It covers China's Caixin Services PMI, steel production and inventory data, and energy and chemical industry indicators [15].

| 股指期货价差日报 | | | | | --- | --- | --- | --- | | 投资咨询业务资格:证监许可【2011】1292号 | | 叶倩宁 | Z0016628 | | 2025年6月3日 | | | | | 价差 品种 最新值 较前一日变化 | | 历史1年分位数 | 全历史分位数 | | F期现价差 -17.83 | 8.07 | 27.00% | 24.00% | | H期现价差 -11.50 期现价差 | 5.80 | 23.70% | 19.10% | | -43.27 IC期现价差 | 8.04 | 22.10% | 26.50% | | IM期现价差 -60.56 | -1.98 | 85.00% | 18.70% | | 次月-当月 -36.80 | -1.60 | 4.90% | 8.70% | | 李月-当月 -70.40 远月-当月 -107.20 | -4.80 -7.20 | 8.10% 11.00% | 14.20% 16.70% | | IF跨期价差 李月-次月 -33.60 | -3.20 | 7.30% | 19.70% | | 元月-次月 -70.40 ...

Report Investment Ratings - There is no information about the industry investment ratings in the reports Core Views - The reports provide daily updates on various futures markets including stock index futures, treasury bond futures, precious metal futures, and shipping container futures, presenting detailed data on price differences, ratios, and related indicators Summary by Category Stock Index Futures - **IF期现价差**: The latest value is -25.90, up 5.34 from the previous day, with a 1-year historical quantile of 22.50% and an all-time quantile of 16.20% [1] - **IH期现价差**: The latest value is -17.29, up 0.37 from the previous day, with a 1-year historical quantile of 18.00% and an all-time quantile of 10.90% [1] - **IC期现价差**: The latest value is -51.31, up 17.93 from the previous day, with a 1-year historical quantile of 16.80% and an all-time quantile of 19.00% [1] - **IM期现价差**: The latest value is -58.58, up 26.88 from the previous day, with a 1-year historical quantile of 90.00% and an all-time quantile of 19.60% [1] Treasury Bond Futures - **TS基差**: The latest value is -0.0794, up 0.0326 from the previous day, with an IRR of 1.8440 and a percentile of 39.90% since listing [4] - **TF基差**: The latest value is -0.0397, up 0.0202 from the previous day, with an IRR of 1.8378 [4] - **T基差**: The latest value is 0.3511, up 0.3723 from the previous day, with an IRR of 1.4639 and a percentile of 50.80% since listing [4] - **TL基差**: The latest value is 0.6679, up 0.3838 from the previous day, with an IRR of 1.1054 and a percentile of 27.20% since listing [4] Precious Metal Futures - **AU2508合约**: The closing price on May 29 was 764.32 yuan/gram, down 7.96 yuan or -1.03% from May 28 [8] - **AG2508合约**: The closing price on May 29 was 8224 yuan/kg, down 1 yuan or -0.01% from May 28 [8] - **COMEX黄金主力合约**: The closing price on May 29 was 3342.60 dollars/ounce, up 58.20 dollars or 1.77% from May 28 [8] - **COMEX白银主力合约**: The closing price on May 29 was 33.44 dollars, up 0.34 dollars or 1.04% from May 28 [8] Shipping Container Futures - **SCFI综合指数**: On May 23, it was 1586.12 points, up 106.7 points or 7.21% from February 16 [12] - **SCFI (欧洲)**: On May 23, it was 1317 dollars/TEU, up 163.0 dollars or 14.12% from February 16 [12] - **SCFI (美西)**: On May 23, it was 3275 dollars/FEU, up 184.0 dollars or 5.95% from February 16 [12] - **SCFI (美东)**: On May 23, it was 4284 dollars, up 215.0 dollars or 5.28% from February 16 [12]