期 货 研 究 2025 年 08 月 08 日 短纤：下方空间有限，短期震荡市，多 PF 空 PR 瓶片：下方空间有限，短期震荡市，多 PF 空 PR 贺晓勤 投资咨询从业资格号：Z0017709 hexiaoqin024367@gtjas.com 钱嘉寅（联系人） 从业资格号：F03124480 Qianjiayin028310@gtjas.com 【基本面跟踪】 | | | 昨日 | 前日 | 变化 | | 昨日 | 前日 | 变化 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 短纤2508 | 6298 | 6298 | 0 | PF08-09 | -18 | -52 | 34 | | PF | 短纤2509 | 6316 | 6350 | -34 | PF09-10 | -76 | -32 | -44 | | | 短纤2510 | 6392 | 6382 | 10 | PF基差 | 174 | 150 | 24 | | | 短纤持仓量 | 328224 | 324371 | 3853 | 短纤华东现货价格 | 6. 490 ...

投资咨询业务资格:证监会许可【2012】31号 --- 2019 --- 2020 ----- 2021 - 19/20 ------- 20/21 ------- 21/22 ------- 22/23 - 23/24 24/25 800 2400 2023 -- 2022 2024 1600 600 800 400 -800 200 -1600 -2400 0 12月 2月 5月 10月 11月 1月 3月 4月 6月 7月 8月 9月 郑糖9-1月差 柳州-09基差 SR1809-SR1901 - SR1909-SR2001 ---- SR2009-SR2101 -- SR1909 - SR1809 ==== SR2109 ------ SR2009 SR2109-SR2201 -- SR2209-SR2301 ---- SR2309-SR2401 600 1200 -- SR2309 SR2409 SR2509 SR2209 SR2509-SR2601 SR2409-SR2501 400 800 200 400 0 0 -200 -400 -400 -800 -600 01/21 02/21 03/2 ...

每经AI快讯，8月7日，红枣期货主力合约日内涨幅扩大至3%，报11225元/吨。 （文章来源：每日经济新闻） ...

聚烯烃日报 | 2025-08-07 新增产能持续放量，供应压力增大 价格与基差方面，L主力合约收盘价为7321元/吨（-2），PP主力合约收盘价为7078元/吨（-17），LL华北现货为7230 元/吨（+30），LL华东现货为7280元/吨（+0），PP华东现货为7050元/吨（+10），LL华北基差为-91元/吨（+32）， LL华东基差为-41元/吨（+2）， PP华东基差为-28元/吨（+27）。 市场要闻与重要数据 上游供应方面，PE开工率为81.1%（+2.1%），PP开工率为76.9%（+0.0%）。 生产利润方面，PE油制生产利润为292.5元/吨（+88.1），PP油制生产利润为-187.5元/吨（+88.1），PDH制PP生产利 润为302.7元/吨（-27.7）。 进出口方面，LL进口利润为-71.8元/吨（+2.4），PP进口利润为-506.2元/吨（-17.5），PP出口利润为30.3美元/吨（+2.2）。 下游需求方面，PE下游农膜开工率为12.6%（+0.0%），PE下游包装膜开工率为48.7%（+0.6%），PP下游塑编开工 率为41.1%（-0.1%），PP下游BOPP膜开 ...

商品研究 | 走势评级: | 自糖 | 震荡 | | --- | --- | --- | | | 棉花- | 震荡 | 张秀峰—分析师 从业资格证号：F0289189 投资咨询证号：Z0011152 联系电话：0571-28132619 邮箱：zhangxiufeng@cindasc.com 期货研究报告 市场等待美农数据，棉花震荡运行 [T报ab告le日_R期ep：ortDate] 2025-08-07 报告内容摘要: [Table_Summary] 白糖：受秋冬春连旱影响，广西甘蔗出苗和前期生长不利，甘蔗长势和株 数较去年同期偏矮偏少。甜菜长势总体良好，但内蒙古产区近期降水偏多， 易发生病虫害，需提前防治。国际方面，后期需继续关注巴西产糖进度和北 半球糖料生长情况。 软商品日报 走势评级： 白糖——震荡 棉花——震荡 棉花：全国大部分棉花产区已进入现蕾至开花阶段，生长进度比往年提前 了 4 到 7 天。根据中国气象局的气候预测，7 月份新疆地区的气温将持续偏 高，高温天数也将超过往年同期，这使得棉花面临较高的热害风险。目前， 棉花库存总量持续减少，但下游市场表现出明显的淡季特征，纺织企业在原 料采购上显得 ...

1. Report Industry Investment Rating - The investment rating for zinc is "Oscillating upward" [1] 2. Core View of the Report - The report presents a detailed analysis of the zinc market's fundamentals, including price, trading volume, open interest, premium/discount, inventory, and related product prices, as well as relevant news and trend strength [1][2] 3. Summary According to Related Catalogs 3.1 Fundamentals Tracking - **Prices**: The closing price of SHFE zinc main contract was 22,380 yuan/ton with 0.00% change, and LME zinc 3M electronic trading closed at 2,750 dollars/ton with -0.15% change [1] - **Trading Volume**: SHFE zinc main contract volume was 89,569 lots, an increase of 4,120 lots, while LME zinc volume was 7,339 lots, a decrease of 826 lots [1] - **Open Interest**: SHFE zinc main contract open interest was 94,254 lots, a decrease of 4,218 lots, and LME zinc open interest was 190,784 lots, an increase of 162 lots [1] - **Premium/Discount**: Shanghai 0 zinc premium/discount was -20 yuan/ton with no change, and LME CASH - 3M premium/discount was -13.16 dollars/ton, a decrease of 2.29 dollars/ton [1] - **Inventory**: SHFE zinc futures inventory was 14,375 tons, a decrease of 432 tons, and LME zinc inventory was 89,225 tons, a decrease of 3,050 tons [1] - **Related Product Prices**: The price of 1.0mm hot - dipped galvanized coil (tax - included) was 4,395 yuan/ton, an increase of 10 yuan/ton; Shanghai Zamak - 5 zinc alloy was 23,505 yuan/ton, an increase of 30 yuan/ton; Shanghai Zamak - 3 zinc alloy was 22,955 yuan/ton, an increase of 30 yuan/ton; zinc oxide ≥99.7% was 21,400 yuan/ton, an increase of 100 yuan/ton [1] 3.2 News - There are ongoing differences in the US - Japan trade agreement, and the US plans to impose an additional 15% tariff on the existing tariff base. Japan requests the US to correct the tariff implementation [2] 3.3 Trend Strength - The trend strength of zinc is 0, indicating a neutral outlook [2][3]

Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Core View The report provides a fundamental tracking of eggs, including futures prices, price spreads, spot prices in different regions, and relevant industrial chain data, as well as the trend strength, but does not explicitly state a core view. 3. Summary by Relevant Catalog [Fundamental Tracking] - **Futures Data**: The closing price of egg2509 is 3,378, with a daily increase of 0.99 and a trading volume decrease of 21,588 and an open - interest decrease of 19,320; the closing price of egg2601 is 3,624, with a daily decrease of 0.11, a trading volume decrease of 2,794, and an open - interest decrease of 1,128 [1]. - **Price Spread Data**: The egg 9 - 10 spread is 93 on the latest day, compared to 78 the previous day; the egg 9 - 1 spread is - 246 on the latest day, compared to - 300 the previous day [1]. - **Spot Price Data**: In different regions, the latest day's spot prices of eggs in Liaoning and Shanxi are 2.90 yuan/jin, the price in Hebei is 2.62 yuan/jin, and the price in Hubei is 3.09 yuan/jin. The latest day's corn spot price is 2,329 yuan/ton, the soybean meal spot price is 2,920 yuan/ton, and the Henan live - pig price is 14.08 yuan/kg [1]. [Trend Strength] The trend strength is 0, with a value range of [-2, 2] for integer values, and the strength classification includes weak, moderately weak, neutral, moderately strong, and strong, where - 2 represents the most bearish and 2 represents the most bullish [1].

商 品 研 究 2025 年 8 月 7 日 LPG：成本支撑偏弱 丙烯：短期弱势震荡 陈鑫超 投资咨询从业资格号：Z0020238 chenxinchao@gtht.com LPG 基本面数据 | | | 昨日收盘价 | 日涨幅 | 夜盘收盘价 | 夜盘涨幅 | | --- | --- | --- | --- | --- | --- | | | PG2509 | 3,855 | 0.26% | 3,833 | -0.57% | | 期货价格 | PG2510 | 4,316 | 0.82% | 4,307 | -0.21% | | | PL2601 | 6,494 | -0.28% | 6,506 | 0.18% | | | PL2602 | 6,551 | -0.30% | 6,548 | -0.05% | | | | 昨日成交 | 较前日变动 | 昨日持仓 | 较前日变动 | | | PG2509 | 83,729 | -10528 | 102,924 | 983 | | 持仓&成交 | PG2510 | 35,153 | 1567 | 85,403 | 6504 | | | PL2601 | 1,92 ...

风险提示：期市有风险，投资需谨慎！ 祁玉蓉（F03100031, Z0021060），联系电话：010-8229 5006 | 铅锌日评20250807：区间整理 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 2025/8/7 指标 | | | 单位 | 今值 | | 变动 近期趋势 | | SMM1#铅锭平均价格 | | | 元/吨 | 16,725.00 | | 0.75% | | 沪铅期现价格 | | 期货主力合约收盘价 | 元/吨 | 16,855.00 | | 0.48% | | 元/吨 | | 沪铅基差 | | -130.00 | | 45.00 | | 元/吨 | | 升贴水-上海 | 美元/吨 | -40.00 -35.88 | | 10.00 6.04 | | 升贴水-LME 0-3 | | 升贴水-LME 3-15 | 美元/吨 | -64.00 | | 1.20 | | 价差 | | 沪铅近月-沪铅连一 | 元/吨 | -60.00 | | - | | 铅 | | 沪铅连一-沪铅连二 | 元/吨 | | - 5.0 ...

Report Industry Investment Ratings - Urea: ★☆☆ (Predicted to have a bullish trend, but the market is not very operable) [1] - Methanol: ★★★ (Predicted to have a clear bullish trend, and there are still relatively appropriate investment opportunities) [1] - Pure Benzene: ★☆☆ (Predicted to have a bullish trend, but the market is not very operable) [1] - Styrene: ★★★ (Predicted to have a clear bullish trend, and there are still relatively appropriate investment opportunities) [1] - Polypropylene: ☆☆☆ (The short - term long/short trend is in a relatively balanced state, and the market is not very operable, it is recommended to wait and see) [1] - Plastic: ★☆☆ (Predicted to have a bullish trend, but the market is not very operable) [1] - PVC: ★☆☆ (Predicted to have a bullish trend, but the market is not very operable) [1] - Caustic Soda: ★★★ (Predicted to have a clear bearish trend, and there are still relatively appropriate investment opportunities) [1] - PX: ★★★ (Predicted to have a clear bullish trend, and there are still relatively appropriate investment opportunities) [1] - PTA: ☆☆☆ (The short - term long/short trend is in a relatively balanced state, and the market is not very operable, it is recommended to wait and see) [1] - Ethylene Glycol: ★★★ (Predicted to have a clear bullish trend, and there are still relatively appropriate investment opportunities) [1] - Short Fiber: ★☆☆ (Predicted to have a bullish trend, but the market is not very operable) [1] - Glass: ★☆☆ (Predicted to have a bullish trend, but the market is not very operable) [1] - Soda Ash: ☆☆☆ (The short - term long/short trend is in a relatively balanced state, and the market is not very operable, it is recommended to wait and see) [1] - Bottle Chip: ★★★ (Predicted to have a clear bullish trend, and there are still relatively appropriate investment opportunities) [1] - Propylene: ★★★ (Predicted to have a clear bullish trend, and there are still relatively appropriate investment opportunities) [1] Core Viewpoints - The report analyzes the market conditions of various chemical products, including supply, demand, price trends, and provides corresponding investment ratings based on these factors [1][2][3][5][6][7][8] Summary by Related Catalogs Olefins - Polyolefins - Propylene futures fluctuated around the 5 - day moving average. Low prices, improved downstream product profits, and reduced supply due to unexpected shutdowns of local PDH plants supported the price [2] - Polyolefin futures had a narrow - range intraday fluctuation. Polyethylene's short - term production is expected to increase, with both supply and demand rising recently. Polypropylene's prices are stable, and some offers are tentatively raised, but downstream procurement is weak [2] Pure Benzene - Styrene - Pure benzene prices rebounded. Domestic supply increased, demand was weak, but port inventory decreased. There is an expected improvement in supply - demand in the third - quarter and pressure in the fourth - quarter [3] - Styrene futures prices declined. The expected output of a new plant may have a negative impact, and the supply - demand fundamentals are weak [3] Polyester - PTA prices rebounded. New plant production and increased output from existing plants pressured the supply, but production cuts may boost the market. PX may face demand decline if PTA production cuts increase [5] - Ethylene glycol prices rebounded. Supply is expected to continue to rise, and there is an expected increase in demand [5] - Short fiber prices followed the raw materials and sales improved. There is limited new capacity this year, and the peak - season demand is expected to boost the industry [5] - Bottle chip's low - start operation led to stable inventory, but over - capacity is a long - term pressure [5] Coal Chemical Industry - Methanol prices rose slightly. Coastal olefin plants have low operation rates, and ports are expected to accumulate inventory. In the long - term, the approaching peak - season demand should be monitored [6] - Urea market sentiment cooled. The Indian tender price boosted the spot market, but short - term supply - demand is loose, and the focus is on export policy changes [6] Chlor - Alkali - PVC prices fluctuated strongly. Cost support increased, but supply increased and demand was weak, so short - term prices are expected to fluctuate weakly [7] - Caustic soda prices fluctuated weakly. Comprehensive profit improved, but long - term supply pressure remains, and prices are expected to be under pressure [7] Soda Ash - Glass - Soda ash prices fluctuated. High - price resistance led to a downward shift. Supply is high, and the long - term market is weak, but prices are unlikely to fall below the previous low [8] - Glass prices fluctuated. Mid - stream sales led to a decline in spot prices, and the market is in a state of inventory accumulation [8]