Core Viewpoint - The Ministry of Commerce of China announced a final review investigation of anti-dumping measures on imported ethylene propylene diene monomer (EPDM) rubber originating from the United States, South Korea, and the European Union, effective from December 20, 2025 [1] Group 1 - The Ministry of Commerce will conduct a final review investigation on anti-dumping measures for EPDM rubber imports from the U.S., South Korea, and the EU [1] - During the investigation period, anti-dumping duties will continue to be levied according to the scope and rates specified in the Ministry of Commerce's announcement No. 60 of 2020 [1]

行业 生猪日报 日期 2025 年 12 月 19 日 021-60635740 期货从业资格号：F3055047 ＃summary＃ 021-60635732 yulanlan@ccb.ccbfutures.com 期货从业资格号：F0301101 021-60635727 wanghaifeng@ccb.ccbfutures.com 期货从业资格号：F0230741 研究员：洪辰亮 021-60635572 hongchenliang@ccb.ccbfutures.co m 期货从业资格号：F3076808 021-60635570 liuyouran@ccb.ccbfutures.com 期货从业资格号：F03094925 农业产品研究团队 研究员：林贞磊 linzhenlei@ccb.ccbfutures.com 研究员：余兰兰 研究员：王海峰 研究员：刘悠然 请阅读正文后的声明 每日报告 一、行情回顾与操作建议 数据来源：涌益，建信期货研究中心 生猪行情： 期货方面，18 日生猪主力 2603 合约平开后震荡走跌，尾盘收阴，最高 11470 元/吨，最低 11320 元/吨，收盘报 11325 元/ ...

PresentationGood [ morning ] everyone. Thank you for joining Borregaard's pre-close call. My name is Veronica Skevik Frey and I am Vice President Finance in Borregaard. I'm joined today by our CFO, Per Bjarne Lyngstad, and we are live from the biorefinery in Norway. And here is the agenda for today's call. First, we'll look at the outlook from the latest quarterly report from the Q3 report reiterated for that. Secondly, currency and commodities inputs and then last, we'll have a Q&A session. And regarding t ...

Group 1 - The Ministry of Commerce announced the imposition of anti-dumping duties on imported pork and pork products from the EU, effective from December 17, 2025, for a period of five years, with rates ranging from 4.9% to 19.8% [2][12][13] - The anti-dumping investigation began on June 17, 2024, with preliminary findings released on September 5, 2025, indicating dumping practices by EU exporters, leading to the requirement for importers to pay a deposit [13][15] - Following the announcement of the final ruling, the market showed limited bullish expectations, and pork prices remained stable, with a noted increase in import costs prior to the ruling [2][6] Group 2 - Domestic pork prices began to rise in late June 2024, influenced by the anti-dumping investigation, with significant price increases observed in various pork products [4][15] - By September 2025, despite rising import costs, domestic pork prices declined, leading to cautious purchasing behavior among downstream customers, with only certain EU pork products experiencing price increases [4][15] - As of December 17, 2025, average prices for imported pork products showed a slight decline, indicating a stable market despite the new duties [5][16] Group 3 - The imposition of anti-dumping duties is expected to significantly reduce EU pork imports in 2026, while domestic pork supply is anticipated to increase, leading to lower prices for domestic products [6][17] - The EU is projected to remain the largest source of pork imports for China, despite a significant decline in import volumes, with estimates suggesting a drop to 780,000 to 850,000 tons for pork and 1.1 to 1.2 million tons for pork by-products in 2026 [8][19] - The market is likely to shift towards sourcing from lower-cost regions such as North and South America, as domestic prices remain competitive [19][20]

【环球时报记者 白云怡 环球时报驻法国特派记者 于超凡】中国商务部16日宣布，自2025年12月17日 起，对原产于欧盟的进口相关猪肉及猪副产品征收反倾销税，实施期限5年。此举迅速引发欧洲舆论关 注。对于中方这一决定，欧盟内部反应不一。欧盟委员会称，将审查中方决定是否符合世贸组织规则； 作为主要对华出口猪肉的国家，西班牙和法国表示这一结果"好于预期"，认为中国没有完全关闭市场大 门，给业界留有余地。 应中国畜牧业协会申请，2024年6月17日，中国商务部对原产于欧盟的进口猪肉及猪副产品发起反倾销 调查。本月16日，商务部发布了对原产于欧盟的进口猪肉及猪副产品反倾销调查终裁公告，裁定自17日 起对欧盟上述产品征收为4.9%至19.8%的反倾销税，实施期限5年。公告称，调查机关最终认定，上述 产品存在倾销，给中国国内产业造成了实质性损害。 另据欧洲新闻电视台报道，中国的反倾销调查涉及西班牙、荷兰、丹麦等主要欧盟内部猪肉出口国。 2024年，中国进口的48亿美元猪肉中，逾半来自欧盟。此前，欧盟认为北京过度补贴企业、使中企有不 公平优势，并削弱欧洲竞争力，推动对中国电动车加征高额关税。随后，中国否认相关指控，并对欧洲 ...

上海期货交易所指定交割仓库期货周三（12月17日）仓单日报显示，黄金期货总计91722千克，今日仓 单较上一日增加420千克。 美国劳工统计局公布数据显示，美国11月非农就业人口增加6.4万人，高于市场预期的5万人；但失业率 却意外升至4.6%，创下2021年9月以来的新高。另外，10月非农就业大幅减少10.5万人，远超预期的下 降2.5万人；8月和9月也合计下修3.3万人。11月平均时薪同比增长3.5%，为2021年5月以来最低增速。 国务院关税税则委员会根据商务部的建议作出决定，自2025年12月17日起，对原产于欧盟的进口相关猪 肉及猪副产品征收反倾销税。 沪金主力盘内高位回落，周三（12月17日）黄金期货开盘价972.50元/克，截至目前最高982.78元/克， 最低971.72元/克。截止发稿报979.72元/克，涨幅0.42%，成交量为275889手，持仓为197105手，日持仓 增加899手。 上海期货交易所黄金期货仓单日报(单位：千克) | | 期货 | 增减 | | --- | --- | --- | | 上期所指定交割金库 | 91722 | 420 | ...

Core Viewpoint - The Ministry of Commerce of China has announced the final ruling on anti-dumping duties on imported pork and pork products from the EU, effective December 17, 2025, in response to significant damage to the domestic industry caused by dumping practices [1] Group 1: Anti-Dumping Measures - The Ministry of Commerce will impose anti-dumping duties ranging from 4.9% to 19.8% on EU companies starting December 17, 2025, for a duration of five years [1] - The decision was made following a request from the China Animal Husbandry Association, highlighting the strong demand for protection within the domestic industry [1] Group 2: Impact on Domestic Industry - The ruling is expected to reduce imports of pork and related products from the EU, which may alleviate supply pressure in the domestic pork market, contributing to the stability of the swine industry [1] - Current data indicates that the domestic pork supply is in surplus, with a decrease in imported pork and related products over the past two years [2] Group 3: Import Trends - From January to October, pork imports amounted to approximately 860,000 tons, a year-on-year decrease of 3.3%, while the total imports of pork and pork offal reached about 1.86 million tons, down 2.4% year-on-year [2] - Overall, the import volume of pork and related products is expected to remain low in 2025, suggesting that the impact of the anti-dumping duties on domestic supply may be limited [2]

| 项目类别 | 数据指标 环比 项目 | 最新 | | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货盘面 | T主力收盘价 | 107.905 | 0.05% T主力成交量 | 77265 | -24631↓ | | | TF主力收盘价 | 105.795 | 0.03% TF主力成交量 | 67776 | -10826↓ | | | TS主力收盘价 | 102.426 | -0.02% TS主力成交量 | 34784 | -2027↓ | | | TL主力收盘价 | 111.390 | -0.19% TL主力成交量 | 148857 | -11561↓ | | 期货价差 | TL2603-2606价差 | -0.16 | +0.06↑ T03-TL03价差 | -3.49 | 0.17↑ | | | T2603-2606价差 | -0.02 | +0.02↑ TF03-T03价差 | -2.11 | -0.02↓ | | | TF2603-2606价差 | 0.00 | +0.00↑ TS03-T03价差 | -5.48 | -0.06↓ | | ...

商务部今日发布公告，根据《中华人民共和国反倾销条例》（以下称《反倾销条例》）的规 定，2024年6月17日，商务部（以下称调查机关）发布2024年第23号公告，决定对原产于欧盟 的进口相关猪肉及猪副产品（以下称被调查产品）进行反倾销立案调查。 调查机关对被调查产品是否存在倾销和倾销幅度、被调查产品是否对国内产业造成损害及损害 程度以及倾销与损害之间的因果关系进行了调查。根据调查结果和《反倾销条例》第二十四条 的规定，2025年9月5日，调查机关发布初裁公告，初步认定原产于欧盟的进口相关猪肉及猪副 产品存在倾销，国内相关猪肉及猪副产品产业受到实质损害，并且倾销与实质损害之间存在因 果关系。 初步裁定后，调查机关对倾销和倾销幅度、损害和损害程度以及倾销与损害之间的因果关系进 行了继续调查。现本案调查结束，根据《反倾销条例》第二十五条规定，调查机关作出最终裁 定。现将有关事项公告如下： 一、最终裁定 调查机关最终认定，原产于欧盟的进口相关猪肉及猪副产品存在倾销，国内产业受到实质损 害，而且倾销与实质损害之间存在因果关系。 二、征收反倾销税 根据《反倾销条例》第三十八条的规定，商务部向国务院关税税则委员会提出征收反倾 ...

商务部今日发布公告，根据《中华人民共和国反倾销条例》（以下称《反倾销条例》）的规定，2024年 6月17日，商务部（以下称调查机关）发布2024年第23号公告，决定对原产于欧盟的进口相关猪肉及猪 副产品（以下称被调查产品）进行反倾销立案调查。 调查机关对被调查产品是否存在倾销和倾销幅度、被调查产品是否对国内产业造成损害及损害程度以及 倾销与损害之间的因果关系进行了调查。根据调查结果和《反倾销条例》第二十四条的规定，2025年9 月5日，调查机关发布初裁公告，初步认定原产于欧盟的进口相关猪肉及猪副产品存在倾销，国内相关 猪肉及猪副产品产业受到实质损害，并且倾销与实质损害之间存在因果关系。 初步裁定后，调查机关对倾销和倾销幅度、损害和损害程度以及倾销与损害之间的因果关系进行了继续 调查。现本案调查结束，根据《反倾销条例》第二十五条规定，调查机关作出最终裁定。现将有关事项 公告如下： 一、最终裁定 调查机关最终认定，原产于欧盟的进口相关猪肉及猪副产品存在倾销，国内产业受到实质损害，而且倾 销与实质损害之间存在因果关系。 三、征收反倾销税的方法 自2025年12月17日起，进口经营者在进口原产于欧盟的相关猪肉及猪副产 ...