甲醇日报 | 2025-06-04 关注港口累库兑现速率 甲醇观点 市场要闻与重要数据 内地方面：Q5500鄂尔多斯动力煤410元/吨（+0），内蒙煤制甲醇生产利润568元/吨（-28）；内地甲醇价格方面，内 蒙北线1863元/吨（-28），内蒙北线基差238元/吨（-45），内蒙南线1840元/吨（-10）；山东临沂2170元/吨（-5），鲁 南基差145元/吨（-22）；河南2065元/吨（+0），河南基差40元/吨（-17）；河北2040元/吨（+0），河北基差75元/吨（-17）。 隆众内地工厂库存354950吨（+18940），西北工厂库存216000吨（+9000）；隆众内地工厂待发订单249892吨（+14686）， 西北工厂待发订单128500吨（+12500）。 港口方面：太仓甲醇2275元/吨（+28），太仓基差50元/吨（+11），CFR中国257美元/吨（+1），华东进口价差-20元/ 吨（+3），常州甲醇2290元/吨；广东甲醇2275元/吨（+5），广东基差50元/吨（-12）。隆众港口总库存522960吨（+32581）， 江苏港口库存230000吨（+15000），浙江港口库存 ...

苯乙烯日报 | 2025-06-04 苯乙烯港口库存再度回升 苯乙烯观点 市场要闻与重要数据 纯苯方面：纯苯港口库存14.50万吨（+0.20万吨）；纯苯CFR中国加工费162美元/吨（-2美元/吨），纯苯FOB韩国加 工费146美元/吨（-1美元/吨），纯苯美韩价差60.6美元/吨（-2.0美元/吨）。华东纯苯现货-M2价差-40元/吨（+10元/ 吨）。 苯乙烯方面：苯乙烯主力基差532元/吨（-53元/吨）；苯乙烯非一体化生产利润231元/吨（-184元/吨），预期逐步压 缩。苯乙烯华东港口库存89100吨（+14500吨），苯乙烯华东商业库存70500吨（+18900吨），处于库存回建阶段。 苯乙烯开工率72.0%（+2.7%）。 下游硬胶方面：EPS生产利润376元/吨（+173元/吨），PS生产利润-325元/吨（+173元/吨），ABS生产利润254元/吨 （+131元/吨）。EPS开工率58.67%（-0.85%），PS开工率61.80%（+2.10%），ABS开工率62.32%（+1.45%），下游开 工季节性低位。 市场分析 苯乙烯检修峰值已过，开工逐步回升，前期苯乙烯港口纸货集中补空，带 ...

新能源及有色金属日报 | 2025-06-04 消费环比增长放缓，碳酸锂过剩压力仍在 市场分析 2025年6月3日，碳酸锂主力合约2507开于59800元/吨，收于59940元/吨，当日收盘价较昨日结算价收涨0.33%。当 日成交量为305161手，持仓量为259658手，较前一交易日减少1351手，根据SMM现货报价，目前期货贴水电碳360 元/吨。所有合约总持仓585875手，较前一交易日增加12174手。当日合约总成交量较前一交易日减少151836手，成 交量减少，整体投机度为0.76 。当日碳酸锂仓单33397手，较上个交易日减少60手。 碳酸锂现货：根据SMM数据，2025年6月3日电池级碳酸锂报价5.92-6.14万元/吨，较前一交易日下跌0.04万元/吨， 工业级碳酸锂报价5.82-5.92万元/吨，较前一交易日下跌0.04万元/吨。 库存方面：根据SMM最新统计数据，现货库存为13.16 万吨，其中冶炼厂库存为5.62 万吨，下游库存为4.16 万吨， 其他库存为3.37 万吨。 碳酸锂现货成交价格重心持续下移。根据SMM调研数据，从需求端来看，6月排产增幅极为有限，下游材料厂普遍 处于长协加 ...

Report Industry Investment Rating - Short - term cautious bullish on the unilateral strategy, no suggestions for inter - period and inter - variety strategies [3] Core View - EG prices are oscillating weakly due to polyester production cuts and coal price drops, with significant destocking at EG ports and the possibility of further decline in polyester load. In June, the recovery of the domestic supply side is limited, and the polyester load has declined but remains at a high level overall. Before early June, there will be few foreign vessel arrivals, and the ethylene glycol ports are expected to continue destocking. Attention should be paid to the implementation of polyester production cuts and macro - news changes [1][2] Summary by Directory Price and Basis - Yesterday, the closing price of the EG main contract was 4306 yuan/ton (a change of - 43 yuan/ton or - 0.99% compared to the previous trading day), the EG spot price in the East China market was 4478 yuan/ton (a change of - 10 yuan/ton or - 0.22% compared to the previous trading day), and the EG spot basis in East China (based on the 2509 contract) was 147 yuan/ton (a month - on - month decrease of 7 yuan/ton) [1] Production Profit and Operating Rate - The production profit of ethylene - based EG was - 25 US dollars/ton (a month - on - month decrease of 1 US dollar/ton), and the production profit of coal - based syngas - to - EG was 159 yuan/ton (a month - on - month decrease of 8 yuan/ton) [1] International Price Difference - No specific data provided in the text Downstream Sales and Production and Operating Rate - Polyester production cuts have led to a decline in load, but it remains at a high level overall. Attention should be paid to the implementation of polyester production cuts [1][2] Inventory Data - According to CCF data released every Monday, the inventory of MEG in the main ports of East China was 62.1 tons (a month - on - month decrease of 6.6 tons); according to Longzhong data released every Thursday, the inventory was 57.7 tons (a month - on - month decrease of 3.5 tons). The actual arrival volume at the main ports last week was 6.2 tons, and the planned arrival volume at the main ports in East China this week is 10.8 tons, which is moderately low [1]

化工日报 | 2025-06-04 青岛港口库存小幅下降 市场要闻与数据 期货方面，昨日收盘RU主力合约13450元/吨，较前一日变动+45元/吨。NR主力合约11810元/吨，较前一日变动-55 元/吨。现货方面，云南产全乳胶上海市场价格13400元/吨，较前一日变动+50元/吨。青岛保税区泰混13500元/吨， 较前一日变动+50元/吨。青岛保税区泰国20号标胶1670美元/吨，较前一日变动+0美元/吨。青岛保税区印尼20号标 胶1610美元/吨，较前一日变动+0美元/吨。中石油齐鲁石化BR9000出厂价格11400元/吨，较前一日变动-300元/吨。 浙江传化BR9000市场价11200元/吨，较前一日变动-200元/吨。 近期市场资讯：QinRex最新数据显示，1-4月，越南出口混合橡胶合计28.2万吨，较去年的27万吨同比增加4.4%。 其中，SVR3L混合出口6.1万吨，同比增33%；SVR10混合出口21.8万吨，同比降2%；RSS3混合出口0.33万吨，同 比降6%。 针对于2025年"端午节"假期轮胎企业检修计划情况，隆众资讯对部分样本企业进行了调研，由于5月初部分企业已 经在"劳动节"假期 ...

| | | 指标名称 | T | T-1 | T-5 | T-22 | | --- | --- | --- | --- | --- | --- | --- | | | | Si2507收盘价（元/吨） | 7,070 | -90 | -540 | -1,730 | | | | Si2507成交量（手） | 385,555 | -70,684 | 109,544 | 208,261 | | | | Si2507持仓量（手） | 200,193 | -8,304 | -6,019 | 12,100 | | 工业硅、多晶硅期货市场 | | PS2507收盘价（元/吨） | 34,360 | -1,240 | -525 | - | | | | PS2507成交量（手） | 144,680 | -5,895 | -13,770 | - | | | | PS2507持仓量（手） | 71,600 | -5,800 | -6,751 | - | | | | 工业硅：近月合约对连一价差（元/吨） | 10 | 30 | 25 | 10 | | | | 工业硅：买近月抛连一跨期成本（元/吨） | 42.8 | 0.0 | -6 ...

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core View The methanol market shows a short - term low - level rebound. The spot market has mixed price trends, with some regions falling and others rising. The market trading atmosphere has improved due to macro - level benefits and futures rebounds, but downstream demand remains mainly for essential needs at lower prices. Port inventories have different trends, with overall port inventory rising last week [1][3]. 3. Summary by Relevant Catalogs 3.1 Fundamentals Tracking - **Futures Market**: The closing price of the methanol main contract (09 contract) was 2,225 yuan/ton, up 17 yuan from the previous day; the settlement price was 2,217 yuan/ton, up 8 yuan. Trading volume was 737,761 lots, an increase of 36,302 lots; open interest was 841,450 lots, an increase of 17,111 lots. The basis was 50, up 11, and the monthly spread (MA09 - MA01) was - 64, up 3 [1]. - **Spot Market**: The Jiangsu ex - tank price was 2,330 yuan/ton, up 10 yuan; the Inner Mongolia price was 1,840 yuan/ton, down 10 yuan; the northern Shaanxi price was 1,840 yuan/ton, down 10 yuan; the Shandong price remained unchanged at 2,120 yuan/ton [1]. 3.2 Spot News - The methanol spot price index was 2008.89, down 14.42. The Taicang spot price was 2275, up 28, and the Inner Mongolia northern line price was 1862.5, down 32.5. Six out of 20 monitored cities saw price drops ranging from 5 - 32.5 yuan/ton. The northwest methanol market continued to be weak, but market trading improved due to macro - level benefits and futures rebounds. However, downstream enterprises in major sales areas still mainly purchased based on essential needs at lower prices [3]. - Last week, methanol port inventory stopped falling and rebounded, with 24.56 million tons of visible unloading from foreign vessels. Jiangsu's inventory increased slightly due to increased shipments; Zhejiang's inventory increased due to more foreign vessel unloading. The South China port inventory decreased slightly. Guangdong's inventory decreased due to good consumption and increased social warehouse pick - up; Fujian's inventory also decreased due to limited imports and essential consumption [3]. 3.3 Trend Intensity The methanol trend intensity was 1, indicating a relatively neutral to slightly positive view within the [- 2, 2] range [4].

期货热点追踪 市场多重因素推动下，马棕油期货上涨态势能否持续？ 相关链接 ...

Group 1: Iron Ore and Coal Market - Global iron ore shipments totaled 34.31 million tons from May 27 to June 2, an increase of 2.42 million tons month-on-month. Shipments from Australia and Brazil accounted for 28.69 million tons, with Australia alone contributing 19.21 million tons, a decrease of 0.93 million tons [1] - Mongolia's ER company held an online auction for coking coal on June 3, with a starting price of 750 CNY/ton for Mongolian 3 premium coal. The auction for 12,800 tons ended with no bids, marking the 18th consecutive failed auction since April 22 [1] Group 2: Soybean and Palm Oil Market - As of late May, commercial soybean inventories in major oil mills in China rose to nearly 7 million tons due to concentrated imports. It is expected that 12 million tons of imported soybeans will arrive in June, followed by 9.5 million tons in July and 8.5 million tons in August, indicating sufficient domestic supply [1] - Malaysia's palm oil exports in May reached 1,230,787 tons, a 13.21% increase from the previous month [1] - India's edible oil imports in May surged by 37% to 1.18 million tons, the highest level in five months, with palm oil imports skyrocketing by 87% to 600,000 tons, the highest in six months [2] Group 3: Oil Prices and Wood Inventory - Domestic gasoline and diesel prices were adjusted upward by 65 CNY and 60 CNY per ton, respectively, effective from June 3. The average increase for 92-octane gasoline, 95-octane gasoline, and 0-octane diesel is 0.05 CNY per liter [2] - As of May 30, the total inventory of coniferous logs in China decreased by 20,000 cubic meters to 341,000 cubic meters, a reduction of 0.58% week-on-week, reaching a three-and-a-half-month low [2] Group 4: Aluminum and Lead Production - In May 2025, China's metallurgical-grade alumina production increased by 2.66% month-on-month and 4.06% year-on-year. The built production capacity was approximately 11.08 million tons, with actual operating capacity declining by 0.46% and an operating rate of 77.3%. The average profit in the alumina industry exceeded 400 CNY/ton as of May 30 [2] - A medium-sized lead smelting plant in Yunnan is expected to undergo routine maintenance in mid-June for 30-40 days, which will reduce lead production by nearly 2,000 tons in June, while silver production is expected to remain normal [2]

Group 1: Grain Market Overview - Bloomberg Grain Index increased by 0.13%, closing at 30.6194 points [1] - CBOT corn futures remained flat at $4.3825 per bushel [2] - CBOT wheat futures decreased by 0.56%, settling at $5.3575 per bushel [3] - CBOT soybean futures rose by 0.70%, reaching $10.41 per bushel, with soybean meal futures up by 0.10% and soybean oil futures up by 1.15% [4] Group 2: Sugar and Coffee Markets - ICE raw sugar futures increased by 0.41%, while ICE white sugar futures rose by 0.98% [5] - ICE Arabica coffee futures fell by 1.28%, with coffee "C" futures down by 1.26% and Robusta coffee futures decreasing by 1.27% [6] Group 3: Cocoa and Cotton Markets - New York cocoa futures surged by 3.11%, closing at $9,769 per ton, while London cocoa futures increased by 0.95% [7] - ICE cotton futures declined by 0.23% [8]