Core Viewpoint - Domestic commodity futures saw most main contracts rise, with coking coal and coke experiencing a significant late-session surge, indicating a mixed market sentiment influenced by supply and demand dynamics [1] Group 1: Market Performance - As of the close at 15:00, coking coal, polysilicon, and liquefied petroleum gas rose over 3%, while lithium carbonate, red dates, and coke increased over 2%. Gold, methanol, and glass saw gains exceeding 1%, and other commodities like caustic soda, styrene, and wire rod experienced slight increases [1] - On the downside, the shipping index (European line) and live pigs fell over 3%, with apples, peanuts, and eggs dropping over 1%. Minor declines were noted in corn starch, alumina, and soybean meal [1] Group 2: Future Outlook - According to Zijin Tianfeng Futures research, the overall supply and demand for coking coal is weaker compared to pre-holiday levels, but upstream inventory is low. The strength in thermal coal spot prices is boosting market sentiment, suggesting limited downside for coking coal prices. Future attention will be on potential policy changes and coal mine resumption [1] - Industrial Futures research indicates that the recent full-load trial of Mongolian coal imports may weaken expectations for supply limits under "industrial regulation," potentially creating price pressure. Additionally, increasing anti-dumping pressures from the EU on steel may weaken future demand for coal and coke, leading to a deterioration in short-term market sentiment. Overall, the short-term trend for coking coal and coke is expected to be weak and volatile [1]

投资咨询业务资格：证监许可【2011】1778 号 宝城期货煤焦早报（2025 年 10 月 16 日） ◼ 品种观点参考 时间周期说明：短期为一周以内、中期为两周至一月 | 品种 | | 短期 | 中期 | 日内 | 观点参考 | 核心逻辑概要 | | --- | --- | --- | --- | --- | --- | --- | | 焦煤 | 2601 | 震荡 | 震荡 | 震荡 偏强 | 震荡思路 | 多空僵持，焦煤震荡运行 | | 焦炭 | 2601 | 震荡 | 震荡 | 震荡 偏弱 | 震荡思路 | 利多驱动不足，焦炭震荡调整 | 备注： 1.有夜盘的品种以夜盘收盘价为起始价格，无夜盘的品种以昨日收盘价为起始价格，当日日盘收盘 价为终点价格，计算涨跌幅度。 2.跌幅大于 1%为下跌，跌幅 0~1%为震荡偏弱，涨幅 0~1%为震荡偏强，涨幅大于 1%为上涨。 3.震荡偏强/偏弱只针对日内观点，短期和中期不做区分。 ◼ 主要品种价格行情驱动逻辑—商品期货黑色板块 品种：焦煤（JM） 日内观点：震荡偏强 中期观点：震荡 参考观点：震荡思路 核心逻辑：现货市场方面，甘其毛都口岸蒙煤最新报价为 126 ...

Group 1 - The core point of the article highlights the performance of various commodity futures, with the European shipping index rising by 5.13% and polysilicon increasing by 2.98% [1] - Shanghai crude oil futures experienced a decline of 1.97%, while low-sulfur fuel oil and glass also saw decreases of 1.93% and 1.91% respectively [1]

Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Core Views - **Sugar**: Despite potential domestic sugar production cuts due to typhoon - affected cane in Guangdong and Guangxi, sugar prices are unlikely to improve under the backdrop of global supply surplus [3]. - **Cotton**: Xinjiang's machine - picked cotton is entering the concentrated acquisition phase with a slight recovery in acquisition prices and a minor repair of the production increase expectation. However, the downstream peak season is weakening, and new cotton supply pressure will emerge. With a bumper harvest, cotton prices face significant hedging pressure. Additionally, the US's new tariff policy adds policy uncertainties [18]. - **Apple**: Continuous rainy weather in apple - producing areas has delayed the large - scale supply of high - quality apples and reduced overall quality. Good - quality apple prices are rising, which will boost apple futures prices. Near - month contracts are stronger, and long - term prices are more volatile [22]. - **Jujube**: New - season jujubes are about to be harvested. Although some inland merchants have gone to the producing areas to contract orchards, the contract volume is small. With high inventories of old jujubes, jujube prices may still face downward pressure [30]. 3. Summary by Commodity Sugar - **Futures Prices and Spreads**: On October 13, 2025, SR01 closed at 5470 yuan/ton with a daily decline of 0.47% and a weekly decline of 0.15%. Different contract spreads also showed various changes, such as SR01 - 05 being 27 yuan/ton, with a weekly decline of 9 yuan/ton [4]. - **Base Difference**: On October 10, 2025, the base difference between Nanning and SR01 was 304 yuan/ton, with a daily increase of 32 yuan/ton and a weekly increase of 9 yuan/ton [13]. - **Import Price Changes**: On October 13, 2025, the in - quota price of Brazilian sugar imports was 4426 yuan/ton, with a daily decline of 37 yuan/ton and a weekly increase of 1 yuan/ton. The out - of - quota price was 5621 yuan/ton, with a daily decline of 49 yuan/ton and a weekly increase of 1 yuan/ton [16]. Cotton - **Futures Prices**: On October 13, 2025, cotton 01 closed at 13300 yuan/ton, down 25 yuan/ton or 0.19%. Cotton 05 closed at 13360 yuan/ton, down 15 yuan/ton or 0.11%. Cotton 09 closed at 13530 yuan/ton, down 20 yuan/ton or 0.15% [19]. - **Spreads**: The cotton base difference was 1450 yuan/ton, with a daily increase of 18 yuan/ton. The spread between cotton 01 - 05 was - 50 yuan/ton, unchanged [20]. Apple - **Futures and Spot Prices**: On October 13, 2025, AP01 closed at 8638 yuan/ton, down 1.21% daily but up 2.82% weekly. The price of Qixia first - and second - grade 80 apples was 3.8 yuan/jin, unchanged [23]. - **Spreads and Other Indicators**: The spread between AP01 - 05 was 69 yuan/ton, with a weekly decline of 42.98%. The main contract base difference was - 121 yuan/ton, with a daily increase of 32.97% and a weekly decline of 156.28% [24]. Jujube - **Futures Spreads**: The report shows the historical trends of jujube futures spreads such as 01 - 05, 05 - 09, and 09 - 01 from 2021 - 2025 [31][33]. - **Price Trends**: The report presents the price trends of Xinjiang's main jujube - producing areas (Aksu, Alar, Kashgar) and main sales areas (Hebei, Henan) from 2022 - 2025 [34].

Group 1 - The domestic commodity futures market closed with more declines than increases, indicating a bearish trend overall [1] - Glass and LU fuel prices fell over 3%, while live pigs and NR dropped more than 2%, and coking coal and Shanghai nickel decreased over 1% [1] - On the other hand, Shanghai silver and methanol saw increases of over 2%, with peanuts and Shanghai gold rising more than 1%, and urea and soybean meal experiencing slight gains [1]

| 玻璃纯碱期现日报 | | | | | | | --- | --- | --- | --- | --- | --- | | 投资咨询业务资格:证监许可 【2011】1292号 2025年10月13日 | | | | 将诗语 | Z0017002 | | 玻璃相关价格及价差 | | | | | | | 品种 | 现值 | 前值 | 张跃 | 涨跌幅 | 单位 | | 华北报价 | 1230 | 1240 | -10 | -0.81% | | | 华东报价 | 1340 | 1340 | 0 | 0.00% | | | 华中报价 | 1220 | 1220 | 0 | 0.00% | | | 华南报价 | 1310 | 1310 | 0 | 0.00% | TC/HP | | 玻璃2505 | 1334 | 1338 | -4 | -0.30% | | | 玻璃2509 | 1407 | 1407 | 0 | 0.00% | | | 05 # 7 | -104 | -d8 | -6 | -6.12% | | | 纯碱相关价格及价差 | | | | | | | 品和 | 现值 | 前值 | 涨跌 | 涨跌幅 | ...

投资咨询业务资格：证监许可【2011】1778 号 宝城期货煤焦早报（2025 年 10 月 10 日） ◼ 品种观点参考 时间周期说明：短期为一周以内、中期为两周至一月 | 品种 | | 短期 | 中期 | 日内 | 观点参考 | 核心逻辑概要 | | --- | --- | --- | --- | --- | --- | --- | | 焦煤 | 2601 | 震荡 | 震荡 | 上涨 | 震荡 | 煤矿事故扰动，焦煤区间震荡 | | 焦炭 | 2601 | 震荡 | 震荡 | 震荡 偏强 | 震荡 | 多空交织，焦炭震荡运行 | 备注： 1.有夜盘的品种以夜盘收盘价为起始价格，无夜盘的品种以昨日收盘价为起始价格，当日日盘收盘 价为终点价格，计算涨跌幅度。 2.跌幅大于 1%为下跌，跌幅 0~1%为震荡偏弱，涨幅 0~1%为震荡偏强，涨幅大于 1%为上涨。 3.震荡偏强/偏弱只针对日内观点，短期和中期不做区分。 ◼ 主要品种价格行情驱动逻辑—商品期货黑色板块 品种：焦煤（JM） 参考观点：震荡 核心逻辑：下游补库需求兑现后，国庆期间焦煤现货市场氛围转淡。供需方面，根据钢联统计， 截至 10 月 3 日当周 ...

Core Viewpoint - Domestic commodity futures closed with significant movements, particularly in the gold market, which saw a rise of over 4% [1] Group 1: Price Movements - Live pigs and liquefied petroleum gas fell by over 5% [1] - Eggs decreased by over 4% [1] - Urea dropped by over 3% [1] - Soda ash and methanol declined by over 2% [1] - Shanghai gold, international copper, Shanghai copper, and palm oil increased by over 4% [1] - Shanghai tin, Shanghai nickel, and Shanghai silver rose by over 2% [1]

投资咨询业务资格：证监许可【2011】1778 号 宝城期货煤焦早报（2025 年 10 月 9 日） ◼ 品种观点参考 时间周期说明：短期为一周以内、中期为两周至一月 | 品种 | | 短期 | 中期 | 日内 | 观点参考 | 核心逻辑概要 | | --- | --- | --- | --- | --- | --- | --- | | 焦煤 | 2601 | 震荡 | 震荡 | 下跌 | 震荡 | 基本面边际走弱，焦煤期货震荡 | | | | | | | | 调整 | | 焦炭 | 2601 | 震荡 | 震荡 | 下跌 | 震荡 | 成本支撑走弱，焦炭区间震荡运 | | | | | | | | 行 | 备注： 1.有夜盘的品种以夜盘收盘价为起始价格，无夜盘的品种以昨日收盘价为起始价格，当日日盘收盘 价为终点价格，计算涨跌幅度。 2.跌幅大于 1%为下跌，跌幅 0~1%为震荡偏弱，涨幅 0~1%为震荡偏强，涨幅大于 1%为上涨。 3.震荡偏强/偏弱只针对日内观点，短期和中期不做区分。 专业研究·创造价值 1 / 3 请务必阅读文末免责条款 观点参考 ◼ 主要品种价格行情驱动逻辑—商品期货黑色板块 品种：焦 ...

Group 1 - Domestic commodity futures closed mixed on September 26, with red dates and silver rising over 2% [1] - LU fuel and rapeseed oil increased by more than 1%, while corn and peanuts saw slight gains [1] - Coke and coking coal dropped over 2%, with iron ore and rebar falling more than 1%, and cotton and live pigs experienced slight declines [1]