墨西哥经济部日前发布公告称，应墨西哥生产商申请，对原产于德国、中国和法国的热轧钢板启动反倾 销第二次日落复审调查。本案倾销调查期为2024年10月1日至2025年9月30日，损害调查期为2020年10月 1日至2025年9月30日。涉案产品为不限厚度，宽度大于等于600毫米，未经酸洗、镀层或包覆处理的热 轧碳钢或合金板卷。 ...

2026 年度中国期货市场投资报告 穿越生柴、气候、贸易三重扰动，聚焦结构性机遇 油脂油料 内容提要： 风险点：中美、中加贸易关系，生柴政策，天气风险 王 晨 农产品分析师 从业资格证：F3039376 投资咨询证：Z0014902 TEL：0516-83831160 E-MAIL： wangchen@neweraqh.com.cn 油粕：天气、政策、经贸关 系共振：三大油脂的分化与 机遇 2025-9-24 投资有风险 理财请匹配 1 ◆ 豆系方面，2025/26 年度全球大豆供需维持宽松格局，本年度全球大豆总产量 4.22 亿吨，库存消费比维持在 20%以上。分国别来看，美国大豆种植面积下滑，供应端 面临结构性收缩；巴西大豆供应充足，产量或再创新高，2025/26 年度巴西大豆产 量或将创历史最高记录，达到 1.75 亿吨，较上一年度增加 450 万吨，增幅 2.6%； 阿根廷大豆供应面临拉尼娜天气影响，对单产构成下行风险。由于贸易关系的不 确定性，预计 2025/26 年度美国大豆价格高度依赖于中国的采购情况。 ◆ 菜系方面，2025/26 年度全球菜籽产量同比增加，总产量达 9227.3 万吨，较上一 ...

交易咨询业务资格：证监许可【2012】1091号 菜粕早报 2025-12-22 大越期货投资咨询部：王明伟 从业资格证号：F0283029 投资咨询资格证号：Z0010442 联系方式：0575-85226759 重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投资建议。 我司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投资需谨慎。 CONTENTS 目 录 1 每日提示 2 近期要闻 3 多空关注 1.国内水产养殖进入长假后淡季，现货市场供应短期进入偏紧预期，需 求端逐渐减少压制盘面预期，加拿大油菜籽进入收割阶段，但中加贸易问题 影响短期出口减少国内供应预期。 2.中国对加拿大油菜籽进口反倾销调查初步裁定成立，并开始征收进口 保证金75.8%，一旦最终裁定成立，保证金将作为加征关税不予退还，但是 未来裁定结果尚有变数，等待中加贸易关系进一步发展情况明朗再行决定。 4 基本面数据 5 持仓数据 ✸菜粕观点和策略 菜粕RM2605：2300至2360区间震荡 1.基本面：菜粕震荡回落，豆粕走势带动和技术性震荡整理，市场回归震荡等待加拿大油菜 籽进 ...

期货交易咨询业务资格：证监许可【2011】1285号 华联期货油脂年报 产地棕榈油减产周期即将到来 国内油脂一季度或震荡偏强 20251215 邓丹 从业资格号：F0300922 0769-22111252 交易咨询号：Z0011401 审核：姜世东 从业资格号：F03126164 交易咨询号：Z0020059 请务必阅读正文后的免责声明。本报告的信息均来自已公开信息，关于信息的准确性与完整性，建议投资者谨慎判断，据此入市，风险自担。 请务必阅读正文后的免责声明。本报告的信息均来自已公开信息，关于信息的准确性与完整性，建议投资者谨慎判断，据此入市，风险自担。 年度观点及策略 请务必阅读正文后的免责声明。本报告的信息均来自已公开信息，关于信息的准确性与完整性，建议投资者谨慎判断，据此入市，风险自担。 基本面观点 请务必阅读正文后的免责声明。本报告的信息均来自已公开信息，关于信息的准确性与完整性，建议投资者谨慎判断，据此入市，风险自担。 ◆ 棕榈油方面，马棕9-11月超预期累库打压棕榈油价格大幅下跌，但库存大增的利空在盘面已基本反应。而东 南亚近期迎来洪涝灾害，这表明雨季的到来，加之拉尼娜的影响，同时今年5-8月 ...

人民财讯12月2日电，据中国贸易救济信息网消息，2025年12月1日，巴西发展、工业、贸易和服务部外 贸秘书处发布2025年第93号公告，应巴西国内企业BASF S.A于2025年7月31日提交的申请，对原产于中 国的丙烯酸丁酯发起反倾销调查。本案涉及南共市税号2916.12.30项下的产品。本案倾销调查期为2024 年4月1日至2025年3月31日，损害调查期为2020年4月至2025年3月。 ...

Core Points - The Ministry of Commerce announced the initiation of a final review investigation on anti-dumping measures applicable to imported polyphenylene sulfide from Japan, the United States, South Korea, and Malaysia, effective December 1, 2025 [1] - During the review period, the anti-dumping duties will continue to be levied according to previously published announcements [1] Summary by Company - **Japanese Companies**: - Toray Industries, Inc. 26.9% - DIC Corporation 27.3% - POLYPLASTICS CO., LTD. 25.2% - Tosoh Corporation 25.6% - IDEMITSU FINE COMPOSITES CO., LTD. 33.6% - Sumitomo Bakelite Co., Ltd. 34.5% - Other Japanese companies 69.1% [2] - **American Companies**: - Solvay Specialty Polymers USA, LLC 214.1% - Fortron Industries LLC 220.9% - Other American companies 220.9% [2] - **South Korean Companies**: - Toray Advanced Materials Korea Inc. 26.4% - HDC POLYALL Co., Ltd. 32.7% - Other South Korean companies 46.8% [2] - **Malaysian Companies**: - Polyplastics Asia Pacific Sdn. Bhd. 23.3% - DIC Compounds (Malaysia) Sdn. Bhd. 40.5% - Other Malaysian companies 40.5% [2] Investigation Periods - The dumping investigation period is from July 1, 2024, to June 30, 2025, while the industry damage investigation period is from January 1, 2021, to June 30, 2025 [3]

Core Viewpoint - The European Commission has initiated an anti-dumping investigation against Chinese lawn mower manufacturers, including Daye Co., which may impact the company's operations and market access in Europe [1][2]. Group 1: Company Response and Strategy - Daye Co. plans to adjust its overseas production structure and integrate internal and external production resources to mitigate the impact of the EU's anti-dumping investigation on its lawn mower business [1]. - The company has completed the acquisition of its German subsidiary AL-KO, which will facilitate local operations for research, production, and sales of lawn mower products in Austria [1]. Group 2: Financial Performance - For the first three quarters of 2025, Daye Co. reported total revenue of 3.073 billion yuan, a year-on-year increase of 122.23%, and a net profit attributable to shareholders of 124 million yuan, up 483.56% [4]. - In the third quarter, the company experienced a revenue of 522 million yuan, an increase of 83.41%, but reported a net loss of 101 million yuan, a decline of 218.83% compared to the previous year [5][6]. - The company's net profit fluctuated significantly from 2020 to 2024, with figures of 77 million yuan, 56 million yuan, 11 million yuan, -175 million yuan, and 16 million yuan respectively [2]. Group 3: Market and Sales - Daye Co.'s products are primarily exported, with 97.86% of revenue coming from international sales, targeting over 70 countries including the US, Germany, and France [7]. - As of November 20, Daye Co.'s stock price decreased by 1.00% to 28.71 yuan per share, with a total market capitalization of approximately 5.811 billion yuan, while the stock has risen over 80% this year [7].

Core Viewpoint - The company has been informed that the European Commission has initiated an anti-dumping investigation on lawn mowers imported from China, which may impact its export activities to the EU from October 1, 2024, to September 30, 2025 [1] Group 1 - The investigation is specifically targeting Chinese companies exporting lawn mowers to the EU [1] - The company plans to adjust its overseas production structure and integrate internal and external resources to mitigate the impact of the investigation [1] - The company has completed the acquisition of its German subsidiary AL-KO, which enhances its production capabilities in Austria for direct operations related to lawn mowers [1]

Core Viewpoint - The European Commission has initiated an anti-dumping investigation into lawn mowers originating from China, following a request from Husqvarna Manufacturing CZs.r.o. [1] Group 1: Investigation Details - The investigation targets Chinese companies exporting lawn mowers to the EU from October 1, 2024, to September 30, 2025 [1] - Companies must submit a sampling questionnaire within 7 days of the announcement, and those identified as "cooperating" will benefit from separate or average tax rates [1] Group 2: Consequences for Non-compliance - Non-cooperating companies may face punitive tax rates or risk losing access to the European market [1]

交易咨询业务资格：证监许可【2012】1091号 菜粕早报 2025-11-20 大越期货投资咨询部：王明伟 从业资格证号：F0283029 投资咨询资格证号：Z0010442 联系方式：0575-85226759 重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投资建议。 我司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投资需谨慎。 CONTENTS 目 录 1 每日提示 2 近期要闻 3 多空关注 4 基本面数据 5 持仓数据 ✸菜粕观点和策略 菜粕RM2601：2400至2460区间震荡 1.基本面：菜粕震荡回落，豆粕走势带动和技术性震荡整理，市场回归震荡等待加拿大油菜 籽进口反倾销裁定尚待最终结果。菜粕现货需求旺季过去，但库存维持低位支撑盘面， 加上中加贸易磋商仍变数，盘面短期受豆粕影响维持区间震荡。中性 2.基差：现货2520，基差101，升水期货。偏多 3.库存：菜粕库存1.75万吨，上周1.8万吨，周环比减少2.78%，去年同期2.2万吨，同比减 少20.45%。偏多 4.盘面：价格在20日均线下方但方向向上。中性 5.主力持仓：主 ...