Group 1: Report Information - Report Name: Log Futures Daily Report [1] - Date: May 19, 2025 [1] Group 2: Investment Rating - No investment rating information provided Group 3: Core View - After May, log demand will enter the traditional off - season, with expected reduced shipments in the coming weeks. New Zealand's shipments will seasonally decrease, and the current FOB price continues to decline. The fundamental weak - balance pattern persists. With a significant expected reduction in arrivals this week, the market is expected to fluctuate weakly [3][4] Group 4: Futures and Spot Prices - Futures prices of log contracts 2507, 2509, and 2511 decreased on May 16 compared to May 15, with declines of - 0.63%, - 0.44%, and - 0.50% respectively. The 7 - 9, 7 - 11 spreads decreased, while the 9 - 11 spread increased. The basis of 07, 09, and 11 contracts increased [2] - Spot prices of most radiation pine at ports remained unchanged on May 16, except for the price of spruce 11.8 at Rizhao Port, which increased by 4.72%. The FOB price of radiation pine 4 - meter medium A decreased by - 3.51%, while that of spruce 11.8 meters remained unchanged [2] - The RMB - US dollar exchange rate decreased slightly, and the import theoretical cost decreased by - 4% [2] Group 5: Supply - Monthly port shipments in April increased by 24.17% compared to March, reaching 200.3 million cubic meters. The number of ships at the port increased by 13.79% [2] - Weekly major port inventories decreased. As of April 25, the national inventory decreased by 2.28% to 351 million cubic meters, with decreases in Shandong and Jiangsu [3] Group 6: Demand - Weekly average daily log out - bound volume decreased. As of April 25, the national average daily out - bound volume decreased by 10% to 6.15 million cubic meters, with decreases in Shandong and Jiangsu [3]

2025 年 5 月 18 日 二 〇 二 五 年 度 锰硅：矿端报价提振，锰硅震荡偏强 硅铁：主产地供应收紧，硅铁震荡偏强 | 李亚飞 | 投资咨询从业资格号：Z0021184 | liyafei2@gtht.com | | --- | --- | --- | | 金园园（联系人） | 期货从业资格号：F03134630 | jinyuanyuan2@gtht.com | 报告导读： 【走势回顾】本周硅铁 2506 合约走势震荡偏强，收于 5,598 元/吨，周环比变化 116 元/吨，成交 199,314 手，持仓 36,431 手，持仓环比变化-45,598 手。本周锰硅 2509 合约价格走势偏强，收于 5,858 元/吨，周环比变化 100 元/吨，成交 9698 手，持仓 35698 手，持仓环比变化-19,483 手。 【供应】硅铁本周产量为 9.35 万吨，产量较上周环比变化-0.94 万吨，环比变化率为-9.1%，周开工 率为 31.22%，较上周变动-1.31 个百分点。锰硅本周产量 16.28 万吨，产量较上周环比变化-0.93 万吨，环比变化率为-5.4%，周开工率为 33.6%，较上 ...

纽约可可期货价格触及每吨11000美元，创三个月新高。 ...

原木期货日报 证监许可 【2011】1292号 2025年5月16日 曹剑兰 Z00J9556 | 期货和现货价格 | | | | | | | --- | --- | --- | --- | --- | --- | | 品种 | 5月15日 | 5 14日 | 张跌 | 涨跌幅 | 单位 | | 原木2507 | 788.0 | 794.0 | -6.0 | -0.76% | | | 原木2509 | 798.0 | 804.5 | -6.5 | -0.81% | | | 原木2511 | 801.5 | 809.5 | -8.0 | -0.99% | | | 7-9价差 | -10.0 | -10.5 | 0.5 | | | | 9-11价差 | -3.5 | -5.0 | 1.5 | | | | 7-11价差 | -13.5 | -15.5 | 2.0 | | | | 07合约基差 | -28.0 | -34.0 | 6.0 | | | | 09合约基差 | -38.0 | -44.5 | 6.5 | | | | 11合约基差 | -41.5 | -49.5 | 8.0 | | 元/立方米 | | 日照港 ...

Group 1: Report Information - Report title: Soda Ash and Glass Daily Report [1] - Date: May 16, 2024 [2] - Research team: Energy and Chemical Research Team [4] Group 2: Investment Rating - No investment rating provided in the report Group 3: Core Views - Soda ash futures may have a short - term small - scale rebound in May but lack continuous upward momentum. The long - term pattern is one of oversupply, and prices are expected to enter a downward channel again in mid - to - late May [8]. - The cost support of float glass futures prices may appear in the short term, and the short - term market has a certain support due to the expectation of rush - to - export. However, the continuous game of supply - demand relationship is the key factor for the subsequent trend [10]. Group 4: Summary by Directory 1. Soda Ash and Glass Market Review and Operation Suggestions - **Soda ash futures**: On May 15, the main soda ash futures SA509 maintained a volatile and slightly stronger trend, closing at 1330 yuan/ton, up 11 yuan/ton with a 0.83% increase and an increase of 82,994 lots in positions [7]. - **Soda ash spot**: Supply and demand both decreased, and inventory accumulation continued. The weekly output in the week of May 15 fell to 677,700 tons, a decrease of 8.52%; the weekly operating load rate dropped to 83%. As of May 8, the shipment volume was 711,700 tons, a 7.26% decrease from the previous period. As of May 15, the weekly enterprise inventory of heavy - soda ash remained at 880,000 tons [8]. - **Glass futures**: The FG509 contract closed at 1036 yuan/ton on May 16, down 1 yuan/ton with a 0.09% decrease [7]. - **Glass market**: The overall profit of the float glass production industry increased slightly. Production remained stable, demand was relatively flat, downstream procurement was conservative, and inventory accumulated. The futures price was approaching the production cost line [9][10]. 2. Industry News - China and the US will maintain communication on economic and trade concerns based on the consensus of the Geneva talks [11]. - The domestic float glass market prices were generally stable with minor fluctuations, and trading was average. Different regions had different price trends [11]. - The baking soda market in Henan was operating steadily with a lukewarm trading atmosphere, and the mainstream ex - factory price of food - grade baking soda was estimated at 1200 - 1260 yuan/ton [11]. 3. Data Overview - The report provides charts on the price trends of active contracts for soda ash and glass, soda ash weekly production, soda ash enterprise inventory, central China heavy - soda market prices, and flat glass production [13][19][21]

Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Core Viewpoints - The demand side is suppressed by the traditional off - season in May, the demand for real - estate building materials is lower than expected, the overseas quotation continues to decline, but the arrival of goods is expected to decrease significantly this week. The weak balance pattern of the fundamentals persists, and the market is expected to fluctuate weakly [3][4] Group 3: Summary by Relevant Catalogs Futures and Spot Prices - On May 14, compared with May 13, the prices of log futures contracts 2507, 2509, and 2511 all increased, with increases of 0.76%, 0.50%, and 0.56% respectively. The basis of each contract decreased, and the spot prices of various types of logs in ports remained unchanged. The overseas CFR price of radiata pine 4 - meter medium A decreased by 3.51%, and the import theoretical cost decreased by 3% [2] Supply - In terms of monthly supply, the port throughput in April was 200.3 million cubic meters, a 24.17% increase from March. The number of departing ships from New Zealand to China, Japan, and South Korea increased by 13.79%. In terms of weekly inventory, as of April 25, the total inventory of Chinese logs decreased by 2.28%, with a decrease of 80,000 cubic meters [2][3] Demand - As of April 25, the daily average outbound volume of logs in China decreased by 10%, with a decrease of 0.71 million cubic meters. The daily average outbound volume in Shandong decreased by 15%, and in Jiangsu decreased by 6% [3]

原木期货日报 证监许可 【2011】1292号 2025年5月9日 曹剑兰 Z0019556 | 期货和现货价格 | | | | | | | --- | --- | --- | --- | --- | --- | | 品种 | 2月8日 | 5月7日 | 张跌 | 涨跌幅 | 单位 | | 原木2507 | 780.0 | 792.5 | -12.5 | -1.58% | | | 原木2509 | 794.5 | 803.0 | -8.5 | -1.06% | | | 原木2511 | 800.5 | 808.0 | -7.5 | -0.93% | | | 7-9价差 | -14.5 | -10.5 | -4.0 | | | | 9-11价差 | -6.0 | -5.0 | -1.0 | | | | 7-11价差 | -20.5 | -15.5 | -5.0 | | | | 07合约基差 | -20.0 | -32.5 | 12.5 | | | | 09合约基差 | -34.5 | -43.0 | 8.5 | | 元/立方米 | | 11合约基差 | -40.5 | -48.0 | 7.5 | | | | 日 ...

红枣属于季产年销品种，需求跟随价格变动弹性较大。2024/2025年度红枣大幅丰产，供应充足，为红 枣价格的持续下行奠定基础。 新季红枣上市初始，枣农挺价惜售，但受限于下游承接力较弱，销量及利润不佳，买卖双方互相博弈。 叠加红枣下树时间较晚，销售期缩短使得枣农挺价心态被削弱，开秤价高开低走，期货价格也随之不断 下行。 直到春节旺季，红枣消费增加，使得价格出现反弹。然而，今年的旺季较去年缩短20天，因此对价格的 提振幅度有限。春节后红枣消费逐步进入淡季，且随着天气转暖，红枣进入冷库的时间逼近，一般货价 格开始松动，期货价格继续震荡寻底。4月，中美贸易摩擦升级，但我国红枣出口极少，价格走势主要 取决于自身供需面，因此受宏观扰动影响小。当前，红枣市场供应压力持续加大，销区消费较弱，且随 着温度升高，时令鲜果供应不断增加，进一步抑制红枣需求。供强需弱下，期货价格继续探底。 从供给端来看，2024/2025年度新疆灰枣产量达70万吨，与去年相比增加37万吨。观察历年数据可知， 当灰枣产量处于60万～65万吨时已属于丰产季，而2024/2025年度高达70万吨的产量无疑进一步加剧市 场的供应压力。 此外，天气因素对新季红 ...

原木期货日报 证监许可 【2011】1292号 2025年5月7日 曹剑兰 Z0019556 | 期货和现货价格 | | | | | | | --- | --- | --- | --- | --- | --- | | 品种 | 2月2日 | 2555 | 张跌 | 涨跌幅 | 单位 | | 原木2507 | 789.5 | 788.5 | 1.0 | 0.13% | | | 原木2509 | 801.0 | 804.0 | -3.0 | -0.37% | | | 原木2511 | 806.0 | 807.5 | -1.5 | -0.19% | | | 7-9价差 | -11.5 | -15.5 | 4.0 | | | | 9-11价差 | -5.0 | -3.5 | -1.5 | | | | 7-11价差 | -16.5 | -19.0 | 2.5 | | | | 07合约基差 | -19.5 | -18.5 | -1.0 | | | | 09合约基差 | -31.0 | -34.0 | 3.0 | | | | 11合约基差 | -36.0 | -37.5 | 1.5 | | 元/立方米 | | 日照港3.9 ...

Report Date - The report is dated May 7, 2025 [1] Industry Investment Ratings - Not provided Core Views - The report provides an analysis of the soybean oil and palm oil markets, stating that soybean oil is in a process of bottom - seeking with oscillations and is relatively strong among varieties, while palm oil is short - term weak with support below [2][3] Summary by Relevant Catalogs 1. Fundamental Tracking Futures Data - Palm oil主力: Closing price (day session) is 7,974 yuan/ton with a decline of 2.14%, closing price (night session) is 7,912 yuan/ton with a decline of 0.78%. Trading volume is 549,475 lots, an increase of 45,312 lots, and open interest is 367,565 lots, an increase of 20,597 lots [2] - Soybean oil主力: Closing price (day session) is 7,760 yuan/ton with a decline of 0.92%, closing price (night session) is 7,746 yuan/ton with a decline of 0.18%. Trading volume is 299,059 lots, an increase of 12,309 lots, and open interest is 583,917 lots, an increase of 1,935 lots [2] - Rapeseed oil主力: Closing price (day session) is 9,216 yuan/ton with a decline of 0.87%, closing price (night session) is 9,236 yuan/ton with an increase of 0.22%. Trading volume is 299,742 lots, an increase of 9,457 lots, and open interest is 280,976 lots, an increase of 4,397 lots [2] Spot Data - Palm oil (24 - degree, Guangdong): Spot price is 8,620 yuan/ton, a decrease of 130 yuan/ton [2] - First - grade soybean oil (Guangdong): Spot price is 8,140 yuan/ton, a decrease of 60 yuan/ton [2] - Fourth - grade imported rapeseed oil (Guangxi): Spot price is 9,270 yuan/ton, a decrease of 50 yuan/ton [2] Basis Data - Palm oil (Guangdong): Spot basis is 646 yuan/ton [2] - Soybean oil (Guangdong): Spot basis is 380 yuan/ton [2] - Rapeseed oil (Guangxi): Spot basis is 54 yuan/ton [2] Spread Data - Rapeseed - palm oil futures main contract spread: 1,242 yuan/ton, compared to 1,149 yuan/ton two trading days ago [2] - Soybean - palm oil futures main contract spread: - 214 yuan/ton, compared to - 316 yuan/ton two trading days ago [2] - Palm oil 5 - 9 spread: 456 yuan/ton, compared to 468 yuan/ton two trading days ago [2] - Soybean oil 5 - 9 spread: 140 yuan/ton, compared to 150 yuan/ton two trading days ago [2] - Rapeseed oil 5 - 9 spread: 24 yuan/ton, compared to 9 yuan/ton two trading days ago [2] 2. Macro and Industry News - In Myanmar, the wholesale reference price of palm oil in the Yangon market dropped from 6,735 kyats per viss (about 1.5 kg) last week (April 28 - May 4) to 6,700 kyats per viss as of the week ending May 11. The Ministry of Commerce is taking measures to control prices. Myanmar's annual palm oil consumption is about 1 million tons, local production is about 400,000 tons, and it imports about 700,000 tons from Malaysia and Indonesia [3][4] - As of the week ending May 2, 2025, the U.S. soybean crushing profit was $2.16 per bushel, a 5.3% decline from the previous week. The average crushing profit in 2024 was $2.44 per bushel, lower than $3.29 per bushel in 2023 [4] - Brazilian farmers plan to expand the soybean planting area in the main planting areas by about 500,000 hectares in the 2025/26 season starting in September. The current - season soybean planting area reached a record 47.8 million hectares, and the harvest was 172.1 million tons [4] - From April 28 to May 2, the soybean crushing profit in Mato Grosso state, Brazil, was 623.09 reais/ton, down from 643.31 reais/ton the previous week [5] - As of May 4, the EU's 2024/25 palm oil imports were 2.43 million tons (compared to 2.96 million tons in the same period last year), soybean imports were 11.73 million tons (compared to 10.92 million tons last year), and rapeseed imports were 5.68 million tons (higher than 5 million tons last year) [5] - In 2024, Germany produced about 3.6 million tons of biodiesel, an increase of 100,000 tons year - on - year. Over half of the raw materials came from rapeseed, and about 1.45 million tons of rapeseed oil was processed into biodiesel, approximately equivalent to the 2024 rapeseed harvest [6] 3. Trend Intensity - Palm oil trend intensity: 0; Soybean oil trend intensity: 0. The trend intensity ranges from - 2 to 2, with - 2 being the most bearish and 2 being the most bullish [7]