【尿素、纯碱、玻璃期货行情及市场信息分析】周四，尿素期货价格上涨受阻，主力合约全天偏弱震 荡，收盘价1780元/吨，微跌0.22%。现货市场走势分化，山东、河南涨至1840元/吨、1830元/吨，江苏 回落10元/吨。基本面看，尿素供应回落，昨日行业日产量20万吨，环比降0.13万吨。需求跟进放缓， 主流地区产销率降至5% - 70%，国际扰动减弱，市场回归理性。考虑追肥及出口支撑，短线盘面下跌空 间有限，建议震荡思路，关注全球局势等。6月19日，尿素期货仓单3881张，较上一减484张，有效预报 0张。同日，尿素行业日产20.00万吨，较上一日减少0.13万吨，开工86.39%。截至6月18日，国内尿素 企业库存113.60万吨，较上周降4.11万吨。周四，纯碱期货价格坚挺震荡，主力09合约收盘价1176元/ 吨，微涨0.68%。现货报价基本稳定，沙河及周边重碱贸易自提价1213元/吨，环比涨1元/吨。基本面 看，本周纯碱行业开工率提升1.68个百分点，产量提升1.97%。但下游玻璃产能下降，企业累库，本周 库存增幅2.4%。整体本周基本面稍显利空，预计短期期货底部震荡，可考虑布局长线空单。6月19日， 纯 ...

大越期货投资咨询部 祝森林 从业资格证号：F3023048 投资咨询证号： Z0013626 联系方式：0575-85225791 重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投 资建议。 我司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投资需谨慎。 指标体系 沪锌: 交易咨询业务资格：证监许可【2012】1091号 沪锌期货早报-2025年6月16日 | 交割月份 | 前结算 | 今开盘 | 慶高价 | 腰低价 | 收盘价 | 结算参考价 | 涨跌1 | 涨跌2 | 成交手 | 成交領 | 持合手/变化 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 商品名称:锌 | | | | | | | | | | | | | | 2506 | 22360 | 22305 | 22310 | 22010 | 22010 | 22230 | -350 | -130 | 625 | 6948.28 | 1930 | -185 | | ...

2025.06.16-06.20 豆粕、豆油 期货品种周报 01 P A R T 豆粕期货 Contents 01 中线行情分析 02 品种交易策略 03 相关数据情况 目录 中线趋势来看，豆粕主力处于宽幅震荡的阶段。 中线趋势判断 1 趋势判断逻辑 据Mysteel数据：第23周油厂大豆实际压榨量224.46万吨，开机率为 63.1%；大豆库存610.29万吨，较上周增加27.41万吨，增幅4.70%。豆粕 库存38.25万吨，较上周增加8.45万吨，增幅28.36%。近期国内大豆集中 到港，推动油厂维持高开机率，大豆压榨量显著提升，供应格局趋于宽 松。然而，豆粕需求表现较好，使得库存累积速度缓慢，同比仍处于较 低水平。同时，巴西大豆的出口节奏对其贴水报价形成支撑，叠加中美 贸易不确定性。综合来看豆粕期价处于宽幅震荡整理阶段。 2 建议观望。 3 中线策略建议 品种交易策略 中线行情分析 品种诊断情况 n 上周策略回顾 豆粕期价整体趋势横盘阶段,资金方面强烈偏多。M2509短期 内或维持震荡偏强，预计运行区间：2880-3100，可考虑区 间操作。 n 本周策略建议 豆粕期价整体趋势横盘阶段,资金方面强烈偏 ...

01 P A R T 螺纹钢期货 2025.06.16-06.20 螺纹钢、铁矿石 期货品种周报 Contents 01 中线行情分析 02 品种交易策略 03 相关数据情况 目录 中线行情分析 趋势判断逻辑 螺纹钢周度产量207万吨，表观消费量219万吨，主要钢厂库存182万 吨，社会库存570万吨。长城期货AI智能投询品种诊断报告显示螺纹钢 期货价格日线级别处于横盘阶段。 2 建议观望等待调整阶段完成。 中线策略建议 3 品种交易策略 耐心观望等待调整阶段完成。 n 上周策略回顾 n 本周策略建议 根据长城期货AI智能大数据量化策略模型综合分析，螺纹钢期货主 力合约本周预计运行区间为2930至3050，建议关注2930一线的支 撑力度。 中线趋势判断 1 建议耐心等待新一轮趋势明朗。 n 现货企业套期保值建议 建议观望等待调整阶段完成。 相关数据情况 本报告数据来源为Wind、Mysteel、长城期货交易咨询部 相关数据情况 相关数据情况 本报告数据来源为Wind、Mysteel、长城期货交易咨询部 本报告数据来源为Wind、Mysteel、长城期货交易咨询部 相关数据情况 本报告数据来源为Wind、My ...

豆粕生猪：进口成本下降 连粕高位回落 朱皓天 zhuhaotian@jsfco.com 期货从业资格号：F03090081 投资咨询从业证书号：Z0016204 表 1：豆粕生猪期货日度数据监测 | | 金口期货 | | | 粕 类 生 猪 每 日 数 据 追 踪 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | JIDGHI EILLINER | | | | | | | | | 指标 | 截至 | 单位 | マ日 | 昨日 | 涨跌 | 涨跌幅 | | 期货 | DCE豆粕: 01 | 6月13日 | 元/吨 | 3051 | 3062 | -11.00 | -0.36% | | | DCE豆粕: 05 | 6月13日 | 元/吨 | 2727 | 2730 | -3.00 | -0.11% | | | DCE豆粕: 09 | 6月13日 | 元/吨 | 3041 | 3049 | -8.00 | -0.26% | | | CZCE菜籽粕: 01 | 6月13日 | 元/吨 | 2363 | 2363 | 0.00 | 0.00% | ...

Report Industry Investment Rating No relevant content provided. Core Viewpoints The report provides a forward - looking analysis of various futures contracts on June 9, 2025, including their expected trends (such as strong or weak oscillations) and corresponding support and resistance levels. It also presents macro - economic information and recent trends in international and domestic financial markets, which influence the futures market [2][9]. Summary by Directory 1. Futures Market Outlook - **Stock Index Futures**: Expected to be strongly oscillating on June 9. For example, IF2506 has resistance at 3863 and 3879 points, support at 3848 and 3835 points; IH2506 has resistance at 2689 and 2699 points, support at 2664 and 2653 points; IC2506 has resistance at 5749 and 5790 points, support at 5700 and 5671 points; IM2506 has resistance at 6168 and 6200 points, support at 6060 and 6030 points [2]. - **Treasury Bond Futures**: The ten - year T2509 and thirty - year TL2509 are likely to be strongly oscillating on June 9. T2509 has resistance at 109.00 and 109.12 yuan, support at 108.90 and 108.79 yuan; TL2509 has resistance at 120.0 and 120.3 yuan, support at 119.6 and 119.5 yuan [2]. - **Precious Metals Futures**: Gold futures AU2508 is likely to be weakly oscillating on June 9, with support at 772.6 and 766.7 yuan/gram, resistance at 783.4 and 788.0 yuan/gram. Silver futures AG2508 is likely to have a wide - range oscillation and may reach new highs, with support at 8750 and 8700 yuan/kg, resistance at 8880 and 8950 yuan/kg [2][3]. - **Base Metals Futures**: Most base metals futures (such as copper, aluminum, zinc, etc.) are expected to be weakly oscillating on June 9, while nickel futures NI2507 is expected to be strongly oscillating [3][4]. - **Building Materials and Chemicals Futures**: Glass, soda ash, PTA, PVC, and methanol futures are likely to be strongly oscillating on June 9, while steel - related futures (such as rebar and hot - rolled coil) are expected to be weakly oscillating [6][7]. - **Energy Futures**: Crude oil futures SC2507 is expected to be strongly oscillating on June 9, with resistance at 477 and 489 yuan/barrel, support at 466 and 463 yuan/barrel [6]. - **Agricultural Futures**: Soybean meal futures M2509 is expected to be consolidating, while soybean oil, palm oil futures are likely to be strongly oscillating on June 9, and natural rubber futures RU2509 is expected to be weakly oscillating [7]. - **Shipping Futures**: The container shipping index (European line) futures EC2508 is expected to be weakly oscillating on June 9, with support at 1988 and 1928 points, resistance at 2100 and 2199 points [8]. 2. Macro - economic Information - **International Relations**: China - Canada and China - UK have cooperation and exchange plans. China is promoting cooperation in various fields with other countries and strengthening communication on export control issues [9]. - **Economic Data**: China's foreign exchange reserves increased in May, and gold reserves have been increasing for 7 consecutive months. The global manufacturing PMI in May was 49.2%, up 0.1 percentage points from the previous month, with different regional performances [10][18]. - **Policy and Regulation**: The State Council SASAC issued a management method for central enterprise development plans, and the Ministry of Finance announced its 2025 legislative work plan [11][12]. - **Stock Market**: On June 6, A - shares were narrowly sorted, and overseas giants are bullish on Chinese stocks. The US and European stock markets had different performances, affected by factors such as employment data [23][24][25]. 3. Commodity Futures - related Information - **Precious Metals**: On June 6, COMEX gold futures fell 1.31%, and COMEX silver futures rose 0.91%. The prices were affected by factors such as the US labor market and geopolitical risks [18]. - **Crude Oil**: On June 6, international oil prices rose, with WTI crude oil rising 2.21% and Brent crude oil rising 2%. The increase was driven by multiple factors such as Sino - US trade relations and geopolitical tensions [19]. - **Base Metals**: On June 6, London base metals closed lower, affected by global macro - economic conditions and Fed policy adjustments [19]. - **Exchange Rates**: On June 6, the on - shore RMB against the US dollar closed down 9 basis points, and the US dollar index rose 0.47% [19][20].

2025.06.09-06.13 工业硅、碳酸锂 期货品种周报 01 P A R T 工业硅期货 Contents 01 中线行情分析 02 品种交易策略 03 相关数据情况 目录 中线行情分析 工业硅期货价格维持偏弱走势。 中线趋势判断 1 趋势判断逻辑 2 工业硅现货价格持续下跌，西南地区进入丰水期，电价略有下调，生产成 本降低，目前只有大厂和国企稳定运行，整体开工略有下调，但整体供应 仍处于宽松阶段。下游多晶硅有机硅开工持续缩减，采购窄幅下降。供需 面支撑表现偏弱。长城期货AI智能投询品种诊断报告显示工业硅价格日线 处于下行通道中。 品种交易策略 n 上周策略回顾 维持偏弱走势，建议观望。 n 本周策略建议 维持偏弱走势，建议观望。 工业硅市场供需矛盾依然存在，库存压力大，产量预期增多，建议观望。 中线策略建议 3 相关数据情况 截止至2024年04月19日，上海期货交易所阴极铜库存为300,045吨，较上一周增加322吨。从季节性角度分析，当前库存较近五年相比维持在较高水平。 SHF阴极铜库存走势 SHF阴极铜库存季节性分析 本报告数据来源为Wind、Mysteel、长城期货交易咨询部 相关数据情况 ...

6月6日，国内期市能化板块多数飘红。其中，合成橡胶期货主力合约开盘报10960.0元/吨，今日盘中高 位震荡运行；截至发稿，合成橡胶主力最高触及11395.0元，下方探低10960.0元，涨幅达2.91%附近。 后市来看，合成橡胶期货行情将如何运行，相关机构观点汇总如下： 西南期货分析称，原料端，丁二烯价格回调，合成橡胶加工亏损扩大；供应端，中国高顺顺丁橡胶行业 周度产能利用率回落至73%附近，同比处于偏高水平需求端，轮胎企业成品库存高企，出口订单受关税 压制，内需受制于基建投资放缓，购难有增量；库存端，厂家库存环比累库，同比处于偏高水平，贸易 商库存环比累库，同比处于偏高水平。总结：等待企稳参与反弹。 6月4日当周，合成橡胶社会库存录得3.4万吨，较上一周减少0.05万吨，减少幅度达1.45%；最近一个 月，合成橡胶社会库存累计增加0.04万吨，增加幅度为1.19%。 瑞达期货（002961）指出，近期顺丁橡胶生产成本小幅下降但仍存在较大亏损，生产延续大幅亏损导致 部分民营企业或存进一步降负可能，成本面弱势及宏观经济预期偏空影响下，贸易商积极倒挂出货，本 周生产企业库存小幅提升，贸易企业库存小幅下降。需求方 ...

Group 1 - The core viewpoint of the article indicates that the futures market for rebar, hot-rolled coils, iron ore, and coking coal is experiencing fluctuations, with recent support from a phone call between Chinese and U.S. leaders, while there is no expectation of large-scale domestic stimulus policies [1] - Rebar production has decreased month-on-month due to production shifts, maintenance, and a decline in electric furnace operations, which may affect future production as electric furnaces face losses [1] - Total inventory has decreased month-on-month, but the rate of decline has slowed, indicating weaker demand expectations in the future [1] Group 2 - Hot-rolled coil production has increased month-on-month and is expected to continue rising, although total inventory has seen its first accumulation, suggesting limited domestic terminal demand [1] - The price difference between hot and cold rolled coils is low, which suppresses demand [1] - Iron ore futures showed a weak trend, with the September contract closing at 701, down 0.50%, but strengthened in the night session due to positive signals from the U.S.-China dialogue [1] Group 3 - Coking coal futures rebounded, with the September contract closing at 789.5, up 4.64%, influenced by macroeconomic dialogues and production cut speculation [1] - Supply from domestic coal has decreased, while demand from downstream sectors remains stable, leading to a mixed outlook for prices [1] - Coking coal prices are expected to face significant pressure from hedging as supply remains strong while demand weakens [1] Group 4 - Coking prices showed a slight rebound, with the September contract closing at 1363.5, up 1.64%, amid low downstream inventory and just-in-time purchasing from steel mills [1] - The supply side remains stable with a slight decrease in production, while total inventory is accumulating [1] - The market for coking coal is expected to follow the fluctuations of coal prices and finished products, with a potential for a fourth round of price reductions [1] Group 5 - The article notes that coal prices are expected to stabilize in the early to mid-month, but the upward potential is limited due to various market factors [1] - The demand for non-electricity usage is stable with a slight decrease, while power plants are slowing down inventory accumulation [1] - Seasonal increases in residential demand are anticipated due to weather changes, which may affect coal prices [1]

行业 日期 2025 年 06 月 05 日 能源化工研究团队 研究员：李捷,CFA（原油燃料 研究员：任俊弛（PTA/MEG） 研究员：彭浩洲（工业硅/多晶 研究员：彭婧霖（聚烯烃） 研究员：刘悠然（纸浆） 请阅读正文后的声明 每日报告 工业硅日报 油） 021-60635738 lijie@ccb.ccbfutures.com 期货从业资格号：F3031215 021-60635737 renjunchi@ccb.ccbfutures.com 期货从业资格号：F3037892 硅）028-8663 0631 penghaozhou@ccb.ccbfutures.com 期货从业资格号：F3065843 021-60635740 pengjinglin@ccb.ccbfutures.com 期货从业资格号：F3075681 021-60635570 liuyouran@ccb.ccbfutures.com 期货从业资格号：F03094925 研究员：李金（甲醇） 021-60635730 lijin@ccb.ccbfutures.com 期货从业资格号：F3015157 研究员：冯泽仁（玻璃纯碱） 021- ...