瑞达期货研究院 「2025.05.16」 天然橡胶市场周报 4 研究员：林静宜 期货从业资格号F03139610 期货投资咨询证书号Z0021558 关 注 我 们 获 取 更 多 资 讯 业务咨询 添加客服 目录 1、周度要点小结 2、期现市场 3、产业情况 4、期权市场分析 「周度要点小结」 3 行情回顾：本周天然橡胶期货利好情绪集中释放。进口胶市场报盘重心上移，贸易商交投氛围一 般，国产天然橡胶市场价格重心上调，期货盘面震荡走高，现货价格跟随盘面上调，持货商挺价 报盘，下游谨慎刚需采购，场内实单交投一般。 行情展望：全球天然橡胶产区逐步开割，近期云南产区多阴雨天气，原料产出较少，收购价格坚 挺；海南产区降水天气扰动持续，割胶工作开展不佳，新鲜胶水产出偏少，市场原料流通量表现 紧张，为保证正常生产所需，部分加工厂抢夺胶水情绪升温。上周青岛现货总库存延续小幅累库， 海外前期混合转标胶货源集中到港入库，保税库存累库较为明显，而下游企业基本消耗库存为主， 采购较为谨慎，进而使得青岛仓库整体出库率环比下降。需求方面，本周国内轮胎企业产能利用 率环比大幅提升，多数半钢胎企业已恢复至常规水平但整体出货偏慢，库存延续增 ...

Core Viewpoint - The ongoing Russia-Ukraine negotiations have not diminished the bullish sentiment in the gold market, indicating continued interest and potential opportunities in commodity trading [1] Group 1 - The live analysis by senior futures researcher Leo focuses on the current market trends for gold and other popular futures commodities [1] - Insights will be provided on the fundamental aspects of these commodities and their future price movements [1]

Market Overview - The A-share market is experiencing fluctuations with a general upward trend in individual stocks, while banks and liquor stocks are undergoing adjustments [1][3] - The trading volume has significantly decreased, indicating potential signs of a market peak [1] Investor Sentiment - There is a prevailing pessimism among investors, with many believing the market is in a continuous decline [1][7] - The current market sentiment suggests that a cautious approach is advisable, as trading with negative emotions can lead to further losses [1][7] Market Predictions - The expectation is for the market to rebound after a period of decline, with a potential rise to above 3500 points, which could improve investor sentiment [3] - The current market environment is characterized by a lack of significant upward movement, with large funds likely waiting for a more opportune moment to act [3][5] Sector Analysis - Key sectors such as real estate, securities, and liquor are highlighted as critical areas to watch, especially in light of recent favorable news that did not lead to expected price increases [5] - The market is currently seeing a significant divergence in performance among small and mid-cap stocks, particularly in technology-related sectors [3][5] Trading Dynamics - The market is expected to continue its oscillation, with a focus on patience and waiting for the right opportunities rather than engaging in short-term trading [5][7] - The current trading environment is not conducive to short-term speculative opportunities, as many stocks are experiencing temporary price increases without sustained momentum [5][7]

商 品 研 究 2025 年 5 月 16 日 PP：价格小涨，成交较弱 张驰 投资咨询从业资格号：Z0011243 zhangchi4@gtht.com 【基本面跟踪】 PP 基本面数据 | 期 货 | | 昨日收盘价 | 日涨跌 | 昨日成交 | 持仓变动 | | --- | --- | --- | --- | --- | --- | | | PP2509 | 7161 | 0.18% | 379,584 | -5927 | | 价 差 | | 昨日价差 | | | 前日价差 | | | 09合约基差 | 3 9 | | -13 | | | | 09-01合约价差 | 6 7 | | 5 7 | | | 重要现货价格 | | 昨日价格 | （元/吨） | 前日价格 | （元/吨） | | | 华北 | 7150 - | 7300 | 7110 - | 7320 | | | 华东 | 7200 - | 7350 | 7180 - | 7350 | | | 华南 | 7220 - | 7380 | 7220 - | 7400 | 资料来源：卓创资讯，隆众资讯、国泰君安期货 【现货消息】 注：趋势强度取值范围为 ...

行业 锌期货日报 日期 2025 年 5 月 16 日 021-60635740 期货从业资格号：F3075681 研究员：张平 021-60635734 zhangping@ccb.ccbfutures.com 期货从业资格号：F3015713 021-60635729 yufeifei@ccb.ccbfutures.com 期货从业资格号：F3025190 有色金属研究团队 研究员：彭婧霖 pengjinglin@ccb.ccbfutures.com 研究员：余菲菲 请阅读正文后的声明 ＃summary＃ 每日报告 一、 行情回顾 | 表1：期货市场行情 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 单位：元/吨 | | 开盘 | 收盘 | 最高 | 最低 | 涨跌 | 涨跌幅 | 持仓量 | 持仓量变化 | | 沪锌 | 2505 | 22905 | 22910 | 23100 | 22840 | 160 | 0.70 | 315 | -55 | | 沪锌 | 2506 | 2288 ...

，市场需求状况也是决定N220碳黑市场行情价格的重要因素。随着现代工业的迅速发展，对N220碳黑的需求量不断增加。特别是在橡胶和塑料制品的生产 中，N220碳黑被广泛应用于增加产品的强度和耐磨性。因此，当市场需求火爆时，供给不足会导致N220碳黑价格上涨。相反，如果市场需求不旺或供给充 足，价格可能会下降。 ，政策因素也会对N220碳黑市场行情价格产生一定的影响。政府对于环境保护和安全生产的要求不断提高，对碳黑行业的监管也越来越严格。如果政府加 大了对碳黑行业的环保要求，企业需要增加环保设施投入，导致生产成本上升，从而推高市场价格。因此，政策的变化对市场价格的走势具有一定的不确定 性。 根据目前市场情况和经济预测分析，我们可以对未来N220碳黑市场行情价格进行一些预测。，随着全球经济的恢复和发展，对N220碳黑的需求将会逐渐增 加。尤其是在亚洲地区，由于工业化进程加速，对N220碳黑的需求将会保持较高水平。因此，在未来一段时间内，N220碳黑的市场行情价格有望保持稳定 增长。 ，环保政策的不断加强也将对N220碳黑市场行情价格产生积极影响。由于碳黑行业的高污染性，政府对其整顿力度已经不断加大。未来，随着环境保 ...

金十图示：2025年05月15日（周四）美盘市场行情一览 | | 美国5年期国债收益率 | 4.089 | -0.073 | | --- | --- | --- | --- | | | | | -1.75% | | | 美国10年期国债收益率 | 4.478 | -0.050 | | | | | -1.10% | | | 美国30年期国债收益率 | 4.938 | -0.029 | | | | | -0.58% | | 하 | 英国10年期国债收益率 | 4.723 | +0.005 | | | | | +0.12% | | | 德国10年期国债收益率 | 2.637 | -0.055 | | | | | -2.04% | | | 法国10年期国债收益率 | 3.311 | -0.062 | | | | | -1.84% | | | 意大利10年期国债收益率 | 3.644 | -0.072 | | | | | -1.94% | | | 日本10年期国债收益率 | 1.470 | -0.010 | | | | | -0.68% | FOREIGN EXCHANGE | | 欧元/美元 EURUSD | 1.1 ...

Group 1: Precious Metals - Spot platinum (XPTUSD) is priced at 985.160, with an increase of 0.590 or 0.06% [2] - Spot palladium (XPDUSD) is priced at 956.181, with an increase of 3.968 or 0.42% [2] - Gold (COMEX GC) is priced at 3181.400, with a slight increase of 0.700 or 0.02% [2] - Silver (COMEX SI) is priced at 32.225, showing a decrease of 0.165 or -0.51% [2] Group 2: Foreign Exchange Rates - Euro to USD (EURUSD) is at 1.120, increasing by 0.26% [3] - GBP to USD (GBPUSD) is at 1.329, increasing by 0.23% [3] - USD to JPY (USDJPY) is at 145.971, decreasing by -0.52% [3] - AUD to USD (AUDUSD) is at 0.641, decreasing by -0.31% [3] - USD to CHF (USDCHF) is at 0.838, decreasing by -0.50% [3] Group 3: Cryptocurrency Market - Bitcoin (BTC) is priced at 101804.740, with a decrease of 1703.080 or -1.65% [4] - Litecoin (LTC) is priced at 97.670, with a decrease of 3.270 or -3.24% [4] - Ethereum (ETH) is priced at 2543.570, with a decrease of 65.980 or -2.53% [4] - Ripple (XRP) is priced at 2.462, with a decrease of 0.088 or -3.46% [4] Group 4: Treasury Bonds - The yield on the 2-year U.S. Treasury bond is at 4.030 [6] - The yield on the 5-year U.S. Treasury bond is at 4.142, decreasing by -0.020 or -0.48% [7] - The yield on the 10-year U.S. Treasury bond is at 4.511, decreasing by -0.017 or -0.38% [7] - The yield on the 30-year U.S. Treasury bond is at 4.955, decreasing by -0.012 or -0.24% [7] - The yield on the 10-year UK Treasury bond is at 4.734, increasing by 0.018 or 0.37% [7] - The yield on the 10-year German Treasury bond is at 2.667, decreasing by -0.025 or -0.93% [7] - The yield on the 10-year French Treasury bond is at 3.349, decreasing by -0.024 or -0.71% [7] - The yield on the 10-year Italian Treasury bond is at 3.690, decreasing by -0.026 or -0.70% [7] - The yield on the 10-year Japanese Treasury bond is at 1.473, decreasing by -0.007 or -0.47% [7]

金十图示：2025年05月14日（周三）美盘市场行情一览 | 现货铂金 XPTUSD | 988.790 | -2.340 | -0.24% | | --- | --- | --- | --- | | 现货铝金 XPDUSD | 966.036 | +13.404 | +1.41% | | 黄金(COMEX) GC | 3194.200 | -60.300 | -1.85% | | 白银(COMEX) SI | 32.475 | -0.615 | -1.86% | FOREIGN EXCHANGE 欧元/美元 1.123 +0.44% EURUSD 英镑/美元 +0.15% 1.332 GBPUSD 美元/日元 -1.08% 145.871 USDJPY 澳元/美元 -0.09% 0.646 美元/瑞郎 USDCHF In AUDUSD | | 纽元/美元 NZDUSD | 0.594 | +0.08% | | --- | --- | --- | --- | | . | 英镑/日元 GBPJPY | 194.362 | -0.93% | | | | 虚拟货币 | | | | | VIRTUAL CURRENC ...

从结构上看，大金融是市场上涨的主力，航运物流则因经贸利好继续上涨。那么，大金融上涨究竟是何 缘故？与公募新规可能存在一定关联。国金证券认为，公募基金新规也有望驱动资金流向券商板块。 沪指站上3400点 | 综合看盘 | 数据看盘 | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 名称 | 最新 | 涨跌 | 涨幅 | 总手 | 金额 | 开盘 | | 上证指数 | 3403.95 | +29.08 | 40.86% | 4.65 Z | 5349 Z | 3374.24 | | 深证成指 | 10354.22 | +66.14 | +0.64% | 6.23 乙 | 7819 Z | 10278.91 | | 北证50 | 1420.93 | +15.13 | +1.08% | 15447 | 333.2 Z | 1402.73 | | 创业板指 | 2083.14 | +20.88 | +1.01% | 1.94 乙 | 3695 Z | 2062.27 | | 科创50 | 1013.77 | +4.09 | +0.41% | 486.87 ...