热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 2026年1月27日，国内期货主力合约跌多涨少，铂跌超4%，PTA跌超3%，焦煤跌3%，PX、焦炭跌近 3%，钯、瓶片跌超2%，沪镍、短纤、合成橡胶跌近2%。涨幅方面，沪银涨超7%，棕榈油涨超2%，沪 锡、菜油涨近2%。 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 2026年1月27日，国内期货主力合约跌多涨少，铂跌超4%，PTA跌超3%，焦煤跌3%，PX、焦炭跌近 3%，钯、瓶片跌超2%，沪镍、短纤、合成橡胶跌近2%。涨幅方面，沪银涨超7%，棕榈油涨超2%，沪 锡、菜油涨近2%。 | 序号 | 合约名称 | 最新 | 现手 | 25.0 | 荣价 | 大震災 | 头座 | 中国 | 成交量 | 海路 | 持仓量 | 日增仓 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 护银2604 M | 28300 | б | 28300 | 28303 | 7.25% | J d | J | 103866 ...

Group 1 - The core viewpoint indicates that the futures market for paraxylene (PX) is experiencing a weak performance, with the main contract reported at 7242.0 yuan/ton, a significant drop of 3.21% [1] - The China Securities Regulatory Commission (CSRC) has announced that certain futures, including PX, will be classified as specific varieties for domestic trading, which may impact market dynamics [2] - In early January, South Korea's PX exports to China totaled 215,000 tons, reflecting a year-on-year decrease of 68,000 tons [2] Group 2 - The operating rate for PX in China is reported at 89.0%, showing a slight decrease of 0.4% from the previous week, while the operating rate in Asia stands at 81.0%, with a marginal increase of 0.2% [3] - According to institutional views, the supply-demand outlook for PX is expected to be strong next year, with short-term PX prices anticipated to follow fluctuations in crude oil prices, focusing on resistance around 7700 and support near 7300 [5] - Short-term PX price spreads and processing profits are stable, with a decline in PX operating rates; market sentiment and crude oil costs may provide support, leading to a potential short-term adjustment phase [5]

丙烯日报 | 2026-01-27 供需支撑尚可，盘面延续走高 市场要闻与重要数据 丙烯方面：丙烯主力合约收盘价6320元/吨（+117），丙烯华东现货价6440元/吨（+90），丙烯华北现货价6350元/吨 （+175），丙烯华东基差120元/吨（-27），丙烯山东基差30元/吨（+58）。丙烯开工率71%（-4%），中国丙烯CFR- 日本石脑油CFR245美元/吨（+2），丙烯CFR-1.2丙烷CFR72美元/吨（+4），进口利润-402元/吨（+16），厂内库存38980 吨（-7290）。 丙烯下游方面：PP粉开工率31%（-0.84%），生产利润-250元/吨（-175）；环氧丙烷开工率73%（+1%），生产利润 -288元/吨（-4）；正丁醇开工率87%（+0%），生产利润751元/吨（-9）；辛醇开工率96%（+2%），生产利润856元/ 吨（+24）；丙烯酸开工率82%（-1%），生产利润178元/吨（-32）；丙烯腈开工率75%（-3%），生产利润-1175元/吨 （-6）；酚酮开工率86%（-4%），生产利润-803元/吨（+249）。 市场分析 供应端，PDH装置停车消息逐步兑现，巨正源 ...

| | 20260127申万期货品种策略日报-双焦(JI&J) | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 申银万国期货研究所 沈击奉 (从业编号F03148029 交易咨询号Z0022842) | | | | | | | | | shenyb@sywggh.com.cn 021-50582113 | | | | | | | | | 11-0 I | | | | | | | | | 9月 1月 9 H | 1月 | 5月 | | | 5月 | | | | 前1日收盘价 1237.5 1887.0 1788. 5 | 1403.0 | 1159.5 | | | 1719.0 | | | | 前2日收盘价 | 1402. 5 | 1157. 0 | 1235.5 | 1890. 0 | 1722. 0 | 1791.5 | | EF | 落蛋 | 0. 5 | 2.5 | 2. 0 | -3.0 | -3.0 | -3.0 | | सह | 张跌幅 | 0. 04% | 0. 22% | 0.16% | -0. 16% | ...

Morning session notice 早盘提示 Morning session notice 早盘提示 更多精彩内容请关注格林大华期货官方微信 更多精彩内容请关注格林大华期货官方微信 格林大华期货研究院 证监许可【2011】1288 号 2026 年 01 月 27 日星期二 研究员： 王子健 从业资格：F03087965 交易咨询资格：Z0019551 联系方式：17803978037 | 板块 | 品种 | 多（空） | 推荐理由 【行情复盘】 | | --- | --- | --- | --- | | | | | ICE3 月合约结算价 62.97 跌 84 点，5 月 64.68 跌 80 点，7 月 66.30 跌 67 点；成 交约 10.1 万手。 | | | | | 郑棉总成交 644470 持仓 1145743。结算价 5 月 14620，9 月 14770，1 月 15180。 | | | | | 【重要资讯】 | | | | | 1、1 月 23 日新疆巴州区域机采棉 3129B 含杂 2.5%以内对应 2605 合约疆内库销 | | | | | 售基差在 1030-1080 元 ...

Report Investment Ratings Macroeconomics and Finance - Index: Long - term bullish, buy on dips [5] - Treasury bonds: Range - bound [5] Black Building Materials - Coking coal: Short - term trading [6] - Rebar: Range trading [7] - Glass: Hold off [7] Non - ferrous Metals - Copper: Hold off or hold long positions lightly and roll [9] - Aluminum: Strengthen observation [11] - Nickel: Hold off [12] - Tin: Range trading or take profit on previous long positions [13] - Gold: Range trading [15] - Silver: Bullish [15] - Lithium carbonate: Range - bound [17] Energy and Chemicals - PVC: Range trading [17] - Caustic soda: Hold off [19] - Soda ash: Hold off [26] - Styrene: Range trading [19] - Rubber: Range trading [21] - Urea: Range trading [23] - Methanol: Range trading [25] - Polyolefins: Weakly range - bound [25] Cotton Textile Industry Chain - Cotton and cotton yarn: Range adjustment [26] - Apples: Weakly range - bound [28] - Jujubes: Weakly range - bound [28] Agricultural and Livestock - Pigs: Short on rebounds [30] - Eggs: Avoid shorting in the short term [32] - Corn: Be cautious about chasing highs, hedge on rebounds [34] - Soybean meal: Bearish on rallies [35] - Fats and oils: Bullishly range - bound [41] Core Views The report provides trading suggestions for various futures products based on their respective market fundamentals, including supply - demand relationships, cost factors, policy impacts, and international situations. It also analyzes short - term and long - term trends and risks of each product to help investors make decisions. Summary by Category Macroeconomics and Finance - Index: Affected by international trade policies, central bank policies, and market sentiment, it may range - bound in the short term but is long - term bullish [5] - Treasury bonds: Without significant negative factors, they may range - bound in a narrow range as there is limited impetus for further interest rate declines [5] Black Building Materials - Coking coal: Due to weak fundamentals, demand is sluggish, and supply disturbances may limit the downside. Short - term trading is recommended [6] - Rebar: With a slight over - valuation in price, weak short - term supply - demand contradictions, and a policy vacuum period, range trading is the main strategy [7] - Glass: With stable supply, weakening speculative demand, and limited downstream inventory digestion, it may range - bound around 1050 - 1070. Attention should be paid to the opportunity of going long on glass and short on soda ash [7] Non - ferrous Metals - Copper: Supported by macro factors but with weak fundamentals, it may range - bound at high levels. Be cautious of pre - holiday profit - taking [9] - Aluminum: With stable supply, weakening demand, and cooling of market sentiment, it may adjust at high levels [11] - Nickel: Although stimulated by policy, fundamentals are weak. It is recommended to hold off [12] - Tin: With tight supply and stable demand, it may range - bound. Attention should be paid to supply resumption and demand recovery [13] - Gold and silver: Driven by geopolitical tensions and changes in the Fed's policy expectations, they are bullish. Silver is recommended to hold long positions, and gold is recommended for range trading [15] - Lithium carbonate: With supply disturbances and strong demand, it may range - bound [17] Energy and Chemicals - PVC: With low valuation, weak domestic demand, and high inventory, it may have a bottom. Range trading is recommended, and attention should be paid to policies and cost factors [17] - Caustic soda: With high supply pressure and weak demand, it may range - bound at low levels. Attention should be paid to supply - side adjustments [19] - Styrene: With high valuation after a rebound, it is recommended to be cautious about chasing highs. Attention should be paid to cost and supply - demand changes [19] - Rubber: With supply contraction but high inventory pressure, it may range - bound. Attention should be paid to inventory and downstream demand [21] - Urea: With sufficient supply and increasing demand, it may range - bound. Attention should be paid to supply - side changes and demand trends [23] - Methanol: With weak domestic demand and strong local prices, it may range - bound. Attention should be paid to geopolitical situations and port arrivals [25] - Polyolefins: With increasing supply and weakening demand, they may range - bound weakly. Attention should be paid to cost and demand [25] - Soda ash: With supply over - capacity and cost support, it is recommended to hold off [26] Cotton Textile Industry Chain - Cotton and cotton yarn: With a decrease in global cotton output and an increase in consumption, long - term expectations are optimistic, but short - term caution is needed [26] - Apples: With slow sales in the main production areas and slightly improved sales in some secondary areas, they may range - bound weakly [28] - Jujubes: With the end of raw material acquisition in Xinjiang and stable market transactions, they may range - bound weakly [28] Agricultural and Livestock - Pigs: In the short term, prices may range - bound due to supply - demand games. In the long term, be cautious about the upside. Range - bound trading and hedging are recommended [30] - Eggs: With high valuation and supply pressure in the medium - long term, hedging of post - holiday contracts is recommended [32] - Corn: With short - term supply - demand balance and long - term loose supply - demand, be cautious about chasing highs and hedge on rebounds [34] - Soybean meal: With short - term support and long - term pressure, short - term range trading and long - term bearishness are recommended [35] - Fats and oils: Bullishly range - bound. Hold previous long positions and exit previous spread - narrowing strategies [41]

2026-01-26，碳酸锂主力合约2605开于189220元/吨，收于165680元/吨，当日收盘价较昨日结算价变 化-6.56%。当日成交量为575675手，持仓量为416719手，前一交易日持仓量438728手，根据SMM现货 报价，目前基差为-4700元/吨（电碳均价-期货）。当日碳酸锂仓单28646手，较上个交易日变化490手。 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 来源：华泰期货 作者： 师橙 市场分析 碳酸锂现货：根据SMM数据，电池级碳酸锂报价178000-185000元/吨，较前一交易日变化10500元/吨， 工业级碳酸锂报价175000-181000元/吨，较前一交易日变化10500元/吨。6%锂精矿价格2295美元/吨，较 前一日变化20美元/吨。碳酸锂价格近期持续冲高，上游锂盐厂惜售情绪逐渐增强；下游材料厂维持按 需采购节奏，并开始为二月生产备库，但昨日午后随着价格一路震荡快速下跌，散单采购意愿有所上 升，市场询价与成交活跃度有所提高。 根据SMM最新统计数据，现货库存为108896吨，环比-783吨。其中冶炼厂库存为19834吨，环比+107 吨；下游库存 ...

Summary of Key Points from the Conference Call Industry Overview - The data pertains to the Chinese stock market, specifically focusing on major indices such as 中证500 (CSI 500), 沪深300 (CSI 300), 上证50 (SSE 50), and 中证1000 (CSI 1000) [1] Core Insights and Arguments - 中证500 has seen a reduction in short positions by 2,074, resulting in a net short position of 13,017 [1] - 沪深300 has increased its short positions by 1,932, leading to a net short position of 12,756 [1] - 上证50 has reduced its short positions by 989, with a net short position of 4,441 [1] - 中证1000 has decreased its short positions by 1,099, resulting in a net short position of 32,976 [1] - 中信 has cumulatively reduced short positions by 2,230, with a total net short position of 63,190 [1] - Major players in the market have seen a reduction in short positions for 中证500 by 2,598, leading to a net short position of 39,436 [1] - For 沪深300, major players have increased short positions by 1,492, resulting in a net short position of 42,535 [1] - 上证50 has seen an increase in short positions by 928, with a net short position of 19,964 [1] - 中证1000 has experienced a reduction in short positions by 3,935, leading to a net short position of 51,536 [1] - Major players have cumulatively reduced short positions by 4,113, with a total net short position of 153,471 [1] Additional Important Information - The total trading volume across the three markets reached 32,810 billion, which is an increase of 1,627 billion compared to the previous trading day [1] - There was a net outflow of 1,216.26 billion from the main players [1] - The margin financing balance stands at 27,234.75 billion, which is a decrease of 14.38 billion from the previous trading day [1]

Morning session notice 早盘提示 更多精彩内容请关注格林大华期货官方微信 格林大华期货研究院 证监许可【2011】1288 号 2026 年 1 月 27 日星期二 联系方式：15000295386 | 板块 | 品种 | 多（空） | 推荐理由 【行情复盘】 周一尿素主力合约 2605 价格上涨 4 元至 1791 元/吨，华中主流地区现货价格 1740 元/吨。持仓方面，多头持仓减少 707 手至 25.2 万手，空头持仓增加 613 手至 27.19 万手。 【重要资讯】 | | --- | --- | --- | --- | | 能源与化 | | 少 震荡偏 | 1、供应方面，1 月 26 日，尿素行业日产 20.94 万吨，较上一工作日增加 0.46 万吨； 较去年同期增加 1.47 万吨；今日开工率 88.95%，较去年同期 86.94%回升 2.01%。 2、库存方面，中国尿素企业总库存量 94.60 万吨，较上周减少 4.01 万吨，环比减 4.07%。尿素港口样本库存量 13.4 万吨，环比持平。 3、需求方面，复合肥开工率 40.1%，环比+2.9%，三聚氰胺开工率 ...

热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 蛋白粕： （侯雪玲，从业资格号：F3048706；交易咨询资格号：Z0013637） 周一，CBOT大豆下跌，从四周高位回落，因获利了结。美豆粕和美豆油均下跌。美豆出口检验报告为 单周检验量为132.4万吨，符合市场预期。当周对中国检验量为89.7万吨，占检验量的67.76%。巴西 25/26年产量预计触及1.81亿吨，高于之前预估的1.804亿吨。另外，机构预计收割4.9%，略高于去年的 3.9%。市场关注收割同时关注南里奥格兰德的高温干旱天气。国内方面，蛋白粕继续走高，跟随商品 普涨。春节临近，下游备货需求支撑价格走高。部分油厂存在压车现象，下游物理库存逐步增加。期现 联动，推动价格偏强震荡。策略上，双卖策略。 油脂： （侯雪玲，从业资格号：F3048706；交易咨询资格号：Z0013637） 生猪： （孔海兰，从业资格号：F3032578；交易咨询资格号：Z0013544） 周一，生猪期货偏弱震荡，主力2603合约日收跌0.86%，报收11465元/吨。卓创数据显示，昨日中国生 猪日度均价12.82元/公斤，环比跌0.04元/公斤，基准交 ...