Group 1 - Domestic commodity futures night trading opened with mixed results, with Shanghai gold rising by 0.88% [1] - Shanghai silver increased by 0.65% [1] - Shanghai copper fell by 0.22% [1] Group 2 - Rebar declined by 0.38% [1] - Coking coal dropped nearly 1% [1] - Glass decreased by 0.61% [1] - Crude oil fell by 0.98% [1]

国内商品期货夜盘开盘涨跌不一，沪金涨0.88%，沪银涨0.65%，沪铜跌0.22%，螺纹钢跌0.38%，焦煤 跌近1%，玻璃跌0.61%，原油跌0.98%。 ...

Group 1: Commodity Market Overview - The domestic commodity futures market on September 3 saw more declines than increases, with the main contract for eggs rising over 2% and the main contracts for gold and styrene rising over 1% [1] - The China Securities Commodity Futures Price Index closed at 1440.74 points, up 2.81 points or 0.20% from the previous trading day, while the China Securities Commodity Futures Index closed at 1990.16 points, up 3.88 points or 0.20% [1] Group 2: Egg Market Analysis - The main contract for eggs led the market with a 2.62% increase, closing above the 3000 yuan/500 kg mark, driven by increased demand due to the back-to-school season and Mid-Autumn Festival preparations [2] - Despite the recent rebound, analysts caution that the pressure on egg prices may persist due to limited culling of hens and high inventory levels of laying hens [2] Group 3: Precious Metals Performance - Gold has emerged as a star in the commodity market, with New York futures prices reaching historic highs above $3600 per ounce, and domestic gold prices also rising [3] - The main contract for gold in Shanghai reached a high of 816.78 yuan/kg before closing with a 1.31% increase, influenced by expectations of interest rate cuts by the Federal Reserve and geopolitical tensions [3] Group 4: Lithium Carbonate Market Trends - Lithium carbonate has seen a continuous decline for seven trading days, with a drop of 3.10% on September 3, attributed to a weak overall supply-demand structure [4] - The price of battery-grade lithium carbonate was reported at 75,755 yuan/ton, down 1,631 yuan/ton from the previous working day, as market sentiment turns cautious amid high production levels of spodumene [4] Group 5: Shipping Market Dynamics - The shipping market for European routes is experiencing downward pressure, with the main contract declining by 3.04% due to weak spot market conditions [5] - The Maersk 38-week opening price was quoted at $1700/FEU, reflecting a decrease of $200 from the previous week, indicating ongoing pressure in the spot market [5]

Group 1 - Domestic commodity futures closed mixed, with polysilicon rising nearly 4% and shipping rates on the European route increasing over 3% [1] - LU fuel oil and Shanghai silver both rose over 2%, while fuel oil, crude oil, liquefied gas, Shanghai gold, asphalt, and industrial silicon all increased by more than 1% [1] - On the downside, lithium carbonate fell over 4%, and ethylene glycol dropped more than 2%, with glass, pure benzene, and styrene also declining by more than 1% [1]

Core Viewpoint - Domestic commodity futures night trading opened with mixed results, indicating varied market sentiment and performance across different commodities [1] Group 1: Commodity Performance - Shanghai gold increased by 0.61%, reflecting a positive trend in precious metals [1] - Shanghai silver rose by 1.82%, indicating strong demand in the silver market [1] - Shanghai copper experienced a slight decline of 0.09%, suggesting potential concerns in the industrial metal sector [1] - Rebar prices fell by 0.22%, which may reflect weakening demand in the construction industry [1] - Iron ore dropped by 0.32%, indicating potential oversupply or reduced demand in the steelmaking sector [1] - Coking coal decreased by 0.22%, which could signal challenges in the coal market [1] - Glass prices fell by 0.7%, possibly reflecting reduced demand in the construction and manufacturing sectors [1] - Crude oil prices increased by 0.7%, suggesting a tightening supply or increased demand in the energy market [1]

Group 1 - The domestic commodity futures market opened with mixed results on September 1, with silver rising over 2% and caustic soda increasing by more than 1% [1] - In terms of declines, coking coal and pure alkali fell by more than 2%, while glass and cotton dropped nearly 2% [1] - Other commodities such as rebar, iron ore, coking coal, Shanghai tin, and hot-rolled coil experienced declines of over 1% [1]

策略参考 投资咨询业务资格：证监许可【2011】1778 号 宝城期货豆类油脂早报（2025 年 8 月 29 日） 品种观点参考 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。 参考观点：震荡偏弱 核心逻辑：国内供应宽松的现实难以撼动，国内油厂开机率仍然维持偏高水平且近几周持续增长，豆粕库 存已近百万吨，部分油厂胀库催提现象持续。豆粕基差虽然小幅修复，仍未摆脱负基差格局。短期在资金 离场的拖累下，豆粕期价调整持续。 品种：棕榈油(P) 2.跌幅大于 1%为偏弱，跌幅 0~1%为震荡偏弱，涨幅 0~1%为震荡偏强，涨幅大于 1%为偏强。 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—商品期货农产品板块 品种：豆粕（M） 日内观点：震荡偏弱 中期观点：震荡 专业研究·创造价值 1 / 3 请务必阅读文末免责条款 时间周期说明：短期为一周以内、中期为两周至一月(以前一日夜盘收盘价为基准) 品种 短期 中期 日内 观点参考 核心逻辑概要 <点击目录链接，直达品种 策略解析> 豆粕 2601 震荡 ...

新华财经北京8月25日电（郭洲洋、吴郑思）国内商品期货市场8月25日大面积上涨，其中焦煤主力合约涨超6%；高硫燃油主力合约涨超5%；焦炭主力合约 涨超4%；BR橡胶、集运欧线、铁矿石、玻璃、NR主力合约涨超2%；沪银、纯碱、LU、橡胶、锰硅、氧化铝、国际铜、液化气、沪铜、沪锡主力合约涨超 1%。下跌品种方面，仅碳酸锂、短纤、苯乙烯、尿素、鸡蛋、玉米、纯苯、PTA、菜粕主力合约小幅收跌。 截至25日下午收盘，中证商品期货价格指数收报1443.58点，较前一交易日上涨13.84点，涨幅0.97%；中证商品期货指数收报1994.08点，较前一交易日上涨 19.12点，涨幅0.97%。 焦煤增仓大涨超6% 油价企稳基本面向好推动燃料油大涨超5% 煤炭板块25日再度活跃。因上周五福建大田一煤矿事故引发市场对煤矿安全检查升级的担忧，煤炭板块供应端扰动再次，焦煤焦炭借势大幅拉涨。截至25日 收盘时，焦煤增仓近2.2万手，收盘上涨6.48%，强势领涨商品市场，并带动焦炭也录得超过4%的涨幅。在分析机构看来，国内反内卷交易的持续，使得供 应端博弈成为双焦价格波动的主要驱动之一。虽然事故对焦煤供应的实际影响可能有限，但仍足以引发 ...

Group 1 - Domestic commodity futures closed mixed on August 22, with fuel oil and caustic soda rising over 2% [1] - Industrial silicon, crude oil, styrene, and soda ash increased by more than 1% [1] - On the downside, lithium carbonate fell over 4%, while red dates dropped more than 2% [1] - Container shipping on the European route, rapeseed meal, soybean meal, and polysilicon all declined by over 1% [1]

投资咨询业务资格：证监许可【2011】1778 号 宝城期货动力煤早报（2025 年 8 月 22 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 | | | 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 专业研究·创造价值 1 / 2 请务必阅读文末免责条款 观点参考 观点参考 品种：动力煤现货 日内观点： 中期观点： 参考观点：震荡 核心逻辑：本周，国内动力煤价格维持强势运行，截至 8 月 14 日，秦皇岛港 5500K 动力煤报价 692 元/吨，周环比上涨 18 元/吨，接近 700 元关口。本周以来，国内高温天气蔓延，第三产业和 居民用电需求良好，坑口、港口拉运积极性较高，煤价持续走强。供应方面，8 月 15 日统计局公 布 7 月原煤产量为 3.8 亿吨，同比下降 3.8%，日均产量 122 ...