中国经济网北京12月23日讯 今日，上海期货交易所日间盘黄金期货主力合约震荡收高，成交下降，持 仓减少。主力2602合约收报1014.24元，涨2.73%或26.92元;成交量为276379手;持仓为199734手，持仓减 少2556手。 隔夜，COMEX黄金期货涨2.16%，报4482.30美元/盎司。 (责任编辑：张海蛟) ...

Report Overview - Research Variety: Apple - Report Cycle: Daily Report - Date: December 18, 2025 [1] 1. Futures Market 1.1 Contract Quotes - On December 18, 2025, the Apple AP2605 futures contract oscillated downward, closing at 9068 points, a 0.95% decrease from the previous day. The trading volume was 200,113 lots, and the open interest was 162,157 lots, an increase of 19,889 lots from the previous trading day [2]. 1.2 Variety Prices - All Apple futures contracts declined on the day. The total trading volume was 214,210 lots, and the open interest was 187,560 lots, an increase of 19,146 lots from the previous day [4]. 1.3 Related Quotes - The trading volume of Apple options was 20,328 lots, and the total open interest was 30,213 lots, an increase of 2,803 lots. There were 0 exercised options on the day [6]. 2. Spot Market 2.1 Basis Data - The current spot price of apples is 8200 yuan/ton, and the futures settlement price is 9034 yuan/ton, resulting in a basis of -834 yuan/ton [7]. 2.2 Registered Warehouse Receipts - According to the warehouse receipt daily report of the Zhengzhou Commodity Exchange, there are 0 registered warehouse receipts today [8]. 3. Influencing Factors 3.1 Industry News - The mainstream price of late Fuji apples in storage remains stable. There is no obvious improvement in the stocking atmosphere, and the enthusiasm of merchants to purchase from fruit farmers is average. They are gradually shipping their own inventory [9]. 3.2 Technical Analysis - The daily K - line of the AP2605 contract on the day is a medium - sized阴线 with a long lower shadow. The trading volume increased, the open interest slightly increased, and the price rebounded slightly after hitting the bottom [10]. 4. Market Outlook - Fundamentally, it is the off - season for consumption. High prices are suppressing purchases, and the sales in the distribution areas are slower compared to the same period. The impact of citrus fruits such as tangerines and the weak festival stocking indicate insufficient demand resilience. Technically, the AP2605 contract rebounded after hitting the bottom during the day and consolidated with shrinking volume at the end of the session. In the short term, the price of the Apple AP2605 contract may fluctuate [12].

每经AI快讯，12月23日，钯金期货日内涨5%，现报1922.50美元/盎司。 （责任编辑：王治强 HF013） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 每日经济新闻 ...

工业硅日报 工业硅&多晶硅日报（2025 年 12 月 23 日） 一、研究观点 点评 22 日工业硅震荡偏弱，主力 2605 收于 8595 元/吨，日内跌幅 0.52%，持仓 增仓 11733 手至 22.2 万手。百川工业硅现货参考价 9593 元/吨，较上一交 易日持稳。最低交割品#421 价格跌至 8850 元/吨，现货升水扩至 255 元/ 吨。多晶硅震荡偏弱，主力 2605 收于 58845 元/吨，日内跌幅 2.1%，持仓 减仓 4238 手至 13.5 万手；百川多晶硅 N 型复投硅料价格小幅上调至 52400 元/吨，最低交割品硅料价格小幅上调至 52400 元/吨，现货对主力贴 水收至 6445 元/吨。西北厂家新增检修动态，因新产出品被前期套保单锁 定，厂家整体压力不大。年末西北存在进一步环保减产预期，工业硅受减 产和多晶硅提振，短期延续偏强态势。当前多晶硅库存积压和收储消息并 存，期现延续分歧表现。周内厂家大幅提升现货报价，因成交寥寥，部分 咨询网站坚持稳价发布。交易所再度进行限仓，提高最小开仓，限制过热 投机，盘面窄幅回调；但因由于仍无新注册仓单，盘面高升水压力难解。 请务必阅读正 ...

每经AI快讯，12月23日，钯金期货日内涨5%，现报1922.50美元/盎司。 每经AI快讯，12月23日，钯金期货日内涨5%，现报1922.50美元/盎司。 ...

Report Summary of Futures Market Analysis 1. Report Industry Investment Ratings - PX: Do not chase highs, expect a high-level volatile market [1] - PTA: Do not chase highs, expect a high-level volatile market [1] - MEG: Trend is weakening [1] 2. Core Views - PX: Unilateral price trend is strong, squeezing downstream profits. Short-term rapid increase in PX, focus on the turning point of downstream polyester operating load. Do not chase highs in the short term [9]. - PTA: Do not chase highs in the short term, go long on PTA and short on PF/PR. Yisheng Ningbo plant restarts as planned. Fuhai's new bottle chip plant goes into production. Do not chase highs in the short term [9]. - MEG: Unilateral market is oscillating, and the medium-term trend remains weak. Although the price of 3,600 yuan/ton has reached the cost line of most production facilities, the domestic ethylene glycol facilities are still resilient, and the operating rate has rebounded to 72%. Huayi 20 restarts this week. Polyester operating rate remains at 91.2% this week, and the restart of plants such as Sanfangxiang and China Resources Zhuhai will boost the load next week. Overall, if the polyester load decreases due to profit pressure, the supply-demand pressure of MEG will continue to rise, so it is difficult for ethylene glycol to rise in the medium term [9][10]. 3. Summary by Related Contents Market Quotes - **Futures Prices**: On the previous trading day, the closing prices of PX, PTA, MEG, PF, and SC were 7,258, 5,040, 3,735, 6,432, and 437.9 respectively, with changes of 188, 158, -3, 140, and 11.3, and percentage changes of 2.66%, 3.24%, -0.08%, 2.23%, and 2.65% [2]. - **Spot Prices**: The previous day's spot prices of PX CFR China, PTA East China, MEG, naphtha MOPJ, and Dated Brent were $893/ton, 4,882 yuan/ton, 3,615 yuan/ton, $539.88/ton, and $62.45/barrel respectively, with changes of $26, 117 yuan, -10 yuan, $9, and $1.29 [2]. - **Spot Processing Fees**: The previous day's processing fees for PX - naphtha, PTA, staple fiber, bottle chips, and MOPJ naphtha - Dubai crude oil were 335.45, 150.47, 221.69, 40.59, and -4.23 respectively, with changes of 30.34, -28.15, -24.11, -61.21, and 0.11 [2]. Market Dynamics - **PX**: On December 22, the PX price rose sharply. Two February Asian spot transactions were at 893 and 891, and three March Asian spot transactions were all at 893. The PX valuation on December 22 was $892/ton, up $26 from last Friday. The Asian xylene price further rose to a multi - month high, approaching $900/ton [3]. - **PTA**: A 2.2 million - ton PTA plant in Ningbo is expected to resume operation on the 24th, which was shut down for maintenance in mid - November [6]. - **MEG**: A 200,000 - ton/year MEG plant in Taiwan is restarting, which was shut down for maintenance in late November. A 400,000 - ton/year MEG plant in South China has restarted normally, which was shut down in early December. The MEG port inventory in some main ports in East China is about 716,000 tons, an increase of 30,000 tons from the previous period [6][7]. - **Polyester**: Fuhai Packaging Materials Co., Ltd.'s new 300,000 - ton/year polyester bottle chip plant has produced high - quality products. On December 22, the sales of direct - spun polyester staple fibers were sluggish, with an average sales - to - production ratio of 35%. The sales - to - production ratio of polyester yarn in Jiangsu and Zhejiang was generally weak, with an estimated average of 40% - 50% by 3:30 pm [7][8]. Trend Intensity - The trend intensity of PX, PTA, and MEG is all 0, indicating a neutral trend. The trend intensity ranges from - 2 (most bearish) to 2 (most bullish) [9].

液化石油气日报 | 2025-12-23 市场驱动有限，现货氛围平淡 市场分析 1、\t12月22日地区价格：山东市场，4270-4390；东北市场，4240-4300；华北市场，4200-4330；华东市场，4320-4370； 沿江市场，4620-4960；西北市场，4100-4270；华南市场，4440-4530。（数据来源：卓创资讯） 2、\t2026年1月下半月中国华东冷冻货到岸价格丙烷591美元/吨，涨8美元/吨，丁烷581美元/吨，涨8美元/吨，折合 人民币价格丙烷4592元/吨，涨64元/吨，丁烷4514元/吨，涨64元/吨。（数据来源：卓创资讯） 3、\t2026年1月下半月中国华南冷冻货到岸价格丙烷584美元/吨，涨8美元/吨，丁烷574美元/吨，涨8美元/吨，折合 人民币价格丙烷4537元/吨，涨63元/吨，丁烷4460元/吨，涨64元/吨。（数据来源：卓创资讯） 原油端近日从低位反弹，昨日外盘LPG价格，但国内市场反应相对平淡，现货涨跌互现。其中，华东成交价格大 体持稳，上游维持低库存运作，下游采购积极性一般，市场心态观望为主。整体来看，当前LPG市场驱动相对有 限，醚后碳四与民用气价 ...

1. Report's Industry Investment Rating - All the energy - chemical products covered in the report, including crude oil, fuel oil, asphalt, polyester, rubber, methanol, polyolefin, and polyvinyl chloride, are rated as "volatile" [1][2] 2. Report's Core View - On Monday, the price center of crude oil shifted upwards, with WTI February contract rising by $1.49 to $58.01 per barrel (2.64% increase), Brent February contract rising by $1.60 to $62.07 per barrel (2.65% increase), and SC2601 closing at 439.7 yuan per barrel (1.71% increase). China's crude oil imports in November 2025 were 50.891 million tons, with a month - on - month increase of 5.2% and a year - on - year increase of 4.9%. The geopolitical situation has heated up, pushing up oil prices [1]. - The fuel oil market showed an increase on Monday. The low - sulfur fuel oil market structure strengthened slightly, and the high - sulfur fuel oil market also had some support. The supply of low - sulfur fuel oil from the Western market is expected to decline in December and may rebound in January. The high - sulfur fuel oil market is supported by downstream demand [2]. - The asphalt price increased on Monday. Affected by the tense relationship between the US and Venezuela, the cost - side support is strong, but the terminal demand is weak. Considering the limited supply increase and low factory inventory, the downward price space is limited [2]. - In the polyester market, TA605 rose by 3.24% and EG2605 fell by 0.08%. Some MEG and PTA devices have restarted or are expected to restart. The demand is in the off - season, and although the upstream has good expectations for the 2026 supply - demand pattern, the terminal demand support for prices is limited [2][4]. - In the rubber market, on Monday, the main contract of natural rubber showed a mixed trend. The inventory in Qingdao increased. Domestic rubber production has entered the off - cutting period, overseas raw materials are expected to increase, and downstream demand weakens at the end of the year, so the rubber price is expected to fluctuate [4][6]. - The methanol market showed a bottom - oscillating trend. The supply of domestic overhaul devices is stable at a high level, and the Iranian supply remains low. The demand of MTO devices is expected to weaken, and the inventory may fluctuate in the future [6]. - The polyolefin market is expected to show a weak - oscillating trend. The production will remain at a high level, and the downstream orders and start - up rate are weakening [6]. - The PVC market is expected to be at the bottom and oscillate. The supply is expected to decline slightly, and domestic demand will slow down as the real estate construction slows down [8]. 3. Summary According to Relevant Catalogs 3.1 Research Views - **Crude Oil**: On Monday, oil prices rose, and China's crude oil imports increased. The geopolitical situation, including the Russia - Ukraine issue and the US - Venezuela issue, has an impact on oil prices, and the short - term rhythm needs attention [1]. - **Fuel Oil**: The prices of the main contracts of high - sulfur and low - sulfur fuel oil increased. The low - sulfur fuel oil supply may change, and the high - sulfur fuel oil is supported by demand. The absolute price may follow the oil price, and the cracking spread may remain stable and rise [2]. - **Asphalt**: The asphalt price increased. The cost - side is supported by geopolitics, but the terminal demand is weak. Considering supply and inventory, the downward space is limited, and it may follow the oil price [2]. - **Polyester**: The price of TA605 rose, and EG2605 fell slightly. Some devices have restarted, the demand is in the off - season, and the price of PX and TA may rebound in the short - term with limited space, while the upward pressure on the ethylene glycol price is high [2][4]. - **Rubber**: The prices of different rubber varieties showed a mixed trend. The inventory in Qingdao increased, and considering production and demand, the rubber price is expected to oscillate [4][6]. - **Methanol**: The methanol price is expected to oscillate at the bottom. Domestic supply is stable at a high level, Iranian supply is low, MTO demand weakens, and inventory may fluctuate [6]. - **Polyolefin**: The polyolefin market is expected to be weak and oscillating. Production remains high, and downstream demand weakens [6]. - **Polyvinyl Chloride**: The PVC price is expected to oscillate at the bottom. The supply may decline slightly, and domestic demand will slow down [8]. 3.2 Daily Data Monitoring - **Base - price Information**: The report provides the base - price data of various energy - chemical products on December 23, 2025, including the spot price, futures price, base price, base - price rate, and their changes compared with previous periods. For example, the base price of crude oil (SC) was - 8.76 yuan per barrel, and the base - price rate was - 2.02% [9]. 3.3 Market News - **Geopolitical News**: The Russia - Ukraine issue is still being watched. The tripartite meeting between Russia, the US, and Ukraine has not been seriously discussed, and Ukraine launched a drone attack on a Russian - related oil tanker. The US Coast Guard is chasing an oil tanker near Venezuela, and the US has announced a blockade of Venezuelan oil tankers [11]. 3.4 Chart Analysis - **Main Contract Price**: The report shows the closing price charts of the main contracts of various energy - chemical products from 2021 to 2025, including crude oil, fuel oil, asphalt, etc. [13][14][15] - **Main Contract Base Price**: The base - price charts of the main contracts of various products, such as crude oil, fuel oil, etc., are presented, showing the base - price changes over time [30][32][35] - **Inter - period Contract Price Difference**: The price - difference charts of inter - period contracts of various products, such as fuel oil, asphalt, etc., are provided, showing the price - difference changes between different contracts [43][44][45] - **Inter - variety Price Difference**: The price - difference and ratio charts between different varieties, such as crude oil internal - external price difference, fuel oil high - low sulfur price difference, etc., are shown [60][62][65] - **Production Profit**: The production - profit charts of LLDPE and PP are presented [68] 3.5 Team Member Introduction - **Research Team Members**: The report introduces the members of the energy - chemical research team, including their positions, educational backgrounds, honors, and professional experiences. For example, Zhong Meiyan is the assistant director and energy - chemical director, with rich experience in the futures derivatives market [73]

化工日报 | 2025-12-23 单边：中性。当前EG价格筑底阶段，但投产压力较大，随着港口库存的回升，场内货源流动性增加，1~2月累库 压力仍偏大，需要进一步减产平衡 跨期：无 跨品种：无 风险 EG主港延续累库，供应回升下仍承压 核心观点 市场分析 期现货方面：昨日EG主力合约收盘价3735元/吨（较前一交易日变动-3元/吨，幅度-0.08%），EG华东市场现货价3615 元/吨（较前一交易日变动-10元/吨，幅度-0.28%），EG华东现货基差-4元/吨（环比+12元/吨）。 生产利润方面：据隆众数据，乙烯制EG生产毛利为-98美元/吨（环比-6美元/吨），煤基合成气制EG生产毛利为-987 元/吨（环比-8元/吨）。 库存方面：根据 CCF 每周一发布的数据，MEG 华东主港库存为84.4万吨（环比+2.5万吨）；根据隆众每周四发布 的数据， MEG 华东主港库存为61.7万吨（环比-13.8万吨）。据CCF数据，上周华东主港计划到港总数11.1万吨， 副港到港量3万吨；本周华东主港计划到港总数11.8万吨，副港到港量2.7万吨，整体中性略偏高，预计主港将平衡 略累。 整体基本面供需逻辑：供应端，随 ...

1. Report Industry Investment Rating - Unilateral: Neutral, wait for a clear bottom signal and consider left - side dip - buying [2] - Cross - variety: None [2] - Cross - period: None [2] - Spot - futures: None [2] - Options: None [2] 2. Core View of the Report - Oil prices rebounded, providing stronger cost - side support. The increase in oil prices drove up downstream energy and chemical products including BU. However, the asphalt market still faces significant upward resistance. The northern market has stronger bottom support due to the continuous release of winter storage demand, while the southern market is under pressure. The contradiction of oversupply in the southern region needs time to be resolved, and the risk of raw material tightening is a potential upward driver. The market has a mix of long and short factors, and a bottom - up rebound requires a clearer signal [1] 3. Summary by Relevant Catalogs Market Analysis - On December 22, the closing price of the main BU2602 asphalt futures contract in the afternoon session was 2995 yuan/ton, up 75 yuan/ton or 2.57% from the previous settlement price. The open interest was 217,171 lots, down 777 lots from the previous day, and the trading volume was 366,642 lots, up 37,421 lots from the previous day [1] - The spot settlement prices of heavy - traffic asphalt from Zhuochuang Information are: 3,156 - 3,500 yuan/ton in the Northeast, 2,850 - 3,270 yuan/ton in Shandong, 2,750 - 2,950 yuan/ton in South China, and 3,100 - 3,220 yuan/ton in East China [1] - The spot prices of asphalt in North China and Sichuan - Chongqing regions decreased slightly, while those in other regions remained generally stable. With the escalating geopolitical situation in South America and the US seizure of Venezuelan oil tankers, concerns about raw material tightening have increased, and the discount of diluted asphalt has rebounded [1] - The northern market has a warmer atmosphere due to the continuous release of winter storage demand, but the southern spot market is under pressure as major refineries have released more low - priced resources recently, increasing competitive pressure and suppressing the futures market [1] Strategy - Unilateral: Adopt a neutral stance, wait for a clear bottom signal and consider left - side dip - buying [2] - Cross - variety: No strategy provided [2] - Cross - period: No strategy provided [2] - Spot - futures: No strategy provided [2] - Options: No strategy provided [2] Figures - The report includes figures on asphalt spot prices in various regions (Shandong, East China, South China, North China, Southwest, Northwest), asphalt futures prices (index, main contract, near - month contract, near - month spread), trading volume and open interest of asphalt futures (unilateral, main contract), domestic asphalt weekly output (total, independent refineries, Shandong, East China, South China, North China), domestic asphalt consumption in different fields (road, waterproofing, coking, ship fuel), and asphalt inventories (refinery, social) [3]