南华商品指数：有色板块领涨，能化板块下跌 王怡琳 2026-02-27 17:05:58 摘要：依照相邻交易日的收盘价计算，今日南华综合指数上涨0.46%。板块指数中，只有南华能化指数，下 跌-0.1%，其余板块均是上涨，涨幅最大的板块是南华有色金属指数，涨幅为0.97%，涨幅最小的板块是南华黑色指 数，涨幅为0.2%。 主题指数中，涨幅最大的主题指数是迷你综合指数，上涨0.48%，涨幅最小的主题指数是经济作 物指数，涨幅为0.1%，跌幅最大的主题指数是煤制化工指数，跌幅为-0.83%，跌幅最小的主题指数是建材指数，跌 幅为-0.09%。 商品期货单品种指数中，涨幅最大的单品种指数是锡，上涨9.07%，跌幅 > 南华期货 igger mind, Bigger fortur 智慧创造财富 南华商品指数日报 南华商品指数日报 2026年2月27日 综铜油 0.76% 0.13% 菜籽油 0.00% 】 0.34% → 油菜籽 1.66% 菜籽柏 −0.39% 玉米 0.77% - - 定粉 注: (1) 文中的涨跌幅为(今日收盘价)与昨日收盘价)与昨日收盘价的比值: 文中的贡献度为深跌幅和权重的乘积; (2) 南 ...

摘要：本周，南华综合指数上涨72.31点，涨幅为2.6%；其中影响力最大的品种为原油和白银，原油品种指数涨跌 幅为6.62%，贡献度为1.09%；白银品种指数涨跌幅为11.92%，贡献度为0.72%。南华工业品指数上涨49.5点，涨 幅为1.35%；其中影响力最大的品种为原油和铜，原油品种指数贡献度为1.16%；铜品种指数贡献度为0.19%。南华 金属指数上涨59.45点，涨幅为-0.81%；其中影响力最大的品种为碳酸锂，碳酸锂贡献度为-0.64%。南华能化指数 上涨36.54点，涨幅为2.32%；其中影响力最大的品种 南华商品指数周报 2026年1月30日 指数发展部 曹扬慧 (Z0000505) 赵 搏 (F03103098) 王怡琳 (F03118352) 投资咨询业务资格:证监许可【2011】1290号 摘要 本周,南华综合指数上涨72.31点，涨幅为2.6%；其中影响力最大的品种为原油和白银，原油品种指数涨跌幅为 6.62%，贡献度为1.09%；白银品种指数涨跌幅为11.92%，贡献度为0.72%。南华工业品指数上涨49.5点，涨幅为 1.35%；其中影响力最大的品种为原油和铜，原油品种指数贡献度为 ...

Group 1: Report Summary - The South China Composite Index fell by -0.73% today based on the closing prices of adjacent trading days [1]. - Among the sector indices, only the South China Agricultural Products Index rose by 0.17%, while the rest declined. The South China Non - Ferrous Metals Index had the largest decline of -2.98%, and the South China Black Index had the smallest decline of -0.44% [1]. - Among the theme indices, the Oilseeds and Oils Index had the largest increase of 0.65%, and the Building Materials Index had the smallest increase of 0.09%. The Energy Index had the largest decline of -1.85%, and the Mini Composite Index had the smallest decline of -0.38% [1]. - Among the single - variety indices of commodity futures, the Rapeseed Oil Index had the largest increase of 2.66%, and the Lithium Carbonate Index had the largest decline of -10.43% [1][3]. Group 2: Index Market Data - **South China Composite Index (NHCI)**: Today's close is 2723.27, down 2.43 points (-0.09%) from yesterday. The annualized return rate is 9.90%, the annualized volatility is 12.00%, and the Sharpe ratio is 0.82 [3]. - **Precious Metals Index (NHPMI)**: Today's close is 2180.86, up 5.64 points (0.26%) from yesterday. The annualized return rate is 110.22%, the annualized volatility is 21.49%, and the Sharpe ratio is 5.13 [3]. - **Industrial Products Index (NHII)**: Today's close is 3586.63, down 18.17 points (-0.50%) from yesterday. The annualized return rate is -3.89%, the annualized volatility is 14.16%, and the Sharpe ratio is -0.28 [3]. - **Full - house Index (NHMI)**: Today's close is 7170.98, down 8.59 points (-0.12%) from yesterday. The annualized return rate is 15.85%, the annualized volatility is 12.79%, and the Sharpe ratio is 1.24 [3]. - **Energy and Chemical Index (NHECI)**: Today's close is 1528.77, down 8.60 points (-0.56%) from yesterday. The annualized return rate is -15.12%, the annualized volatility is 16.84%, and the Sharpe ratio is -0.90 [3]. - **Non - Ferrous Metals Index (NHNF)**: Today's close is 2053.38, up 5.00 points (0.24%) from yesterday. The annualized return rate is 26.48%, the annualized volatility is 14.64%, and the Sharpe ratio is 1.81 [3]. - **Black Index (NHFI)**: Today's close is 2530.10, down 26.38 points (-1.03%) from yesterday. The annualized return rate is -0.47%, the annualized volatility is 16.37%, and the Sharpe ratio is -0.03 [3]. - **Agricultural Products Index (NHAI)**: Today's close is 1052.92, up 0.57 points (0.05%) from yesterday. The annualized return rate is 2.61%, the annualized volatility is 7.89%, and the Sharpe ratio is 0.33 [3]. - **Mini Composite Index (NHCIMi)**: Today's close is 1181.00, down 0.80 points (-0.07%) from yesterday. The annualized return rate is -0.32%, the annualized volatility is 9.13%, and the Sharpe ratio is -0.04 [3]. - **Energy Index (NHEI)**: Today's close is 968.59, down 7.44 points (-0.76%) from yesterday. The annualized return rate is -2.68%, the annualized volatility is 17.50%, and the Sharpe ratio is -0.15 [3]. - **Petrochemical Index (NHPCI)**: Today's close is 907.89, up 1.53 points (0.17%) from yesterday. The annualized return rate is 1.21%, the annualized volatility is 10.55%, and the Sharpe ratio is 0.12 [3]. - **Coal - Chemical Index (NHCCI)**: Today's close is 923.88, down 4.92 points (-0.53%) from yesterday. The annualized return rate is -0.01%, the annualized volatility is 12.24%, and the Sharpe ratio is 0.00 [3]. - **Colored Raw Materials Index (NHFM)**: Today's close is 1054.74, down 13.31 points (-1.25%) from yesterday. The annualized return rate is -0.02%, the annualized volatility is 16.82%, and the Sharpe ratio is 0.00 [3]. - **Building Materials Index (NHBMI)**: Today's close is 687.09, down 5.51 points (-0.79%) from yesterday. The annualized return rate is -0.51%, the annualized volatility is 12.88%, and the Sharpe ratio is -0.04 [3]. - **Oilseeds and Oils Index (NHOOl)**: Today's close is 1216.05, up 6.84 points (0.57%) from yesterday. The annualized return rate is -1.09%, the annualized volatility is 8.42%, and the Sharpe ratio is -0.13 [3]. - **Economic Crops Index (NHAECI)**: Today's close is 921.65, down 3.47 points (-0.37%) from yesterday. The annualized return rate is 0.54%, the annualized volatility is 9.10%, and the Sharpe ratio is 0.06 [3]. Group 3: Other Information - The calculation method of the rise - fall ratio in the text is the ratio of today's closing price to yesterday's closing price, and the contribution degree is the product of the rise - fall ratio and the weight. The South China Commodity Index eliminates the price difference when the commodity contract is rolled over, reflecting the real return of investing in commodity futures [10]. - The contribution degree calculation method used in the text is: the rise - fall ratio of a certain variety on the day / ∑|the rise - fall ratio of each variety on the day|. The colored data bar represents that the variety rose on the day, and the blue data bar represents that the variety fell on the day [10].

Group 1: Report Summary - The Nanhua Composite Index rose 0.43% based on the closing prices of adjacent trading days [1][5][6] - Among the sector indices, only the Nanhua Precious Metals Index declined by -1.53%, while the rest increased. The Nanhua Energy and Chemical Index had the largest increase of 1.07%, and the Nanhua Black Index had the smallest increase of 0.36% [1][5][6] - All the theme indices increased. The Coal Chemical Index had the largest increase of 1.19%, and the Mini Composite Index had the smallest increase of 0.11% [1][5][6] - In the single - variety indices of commodity futures, the nickel index had the largest increase of 5.28%, and the tin index had the largest decline of -2.43% [1][5] Group 2: Index Data Details Nanhua Commodity Index | Index Name | Today Close | Pre. Close | Points | Daily Return | Annualized Return | Annualized Volatility | Sharpe Ratio | | --- | --- | --- | --- | --- | --- | --- | --- | | Composite Index NHCI | 2648.57 | 2637.12 | 11.45 | 0.43% | 7.16% | 11.55% | 0.62 | | Precious Metals Index NHPMI | 1892.13 | 1921.55 | -29.42 | -1.53% | 87.24% | 19.46% | 4.48 | | Industrial Goods Index NHII | 3561.07 | 3534.24 | 26.82 | 0.76% | -4.85% | 13.80% | -0.35 | | National Index NHMI | 6894.27 | 6866.03 | 28.24 | 0.41% | 10.31% | 11.91% | 0.87 | | Energy and Chemical Index NHECI | 1538.61 | 1522.34 | 16.27 | 1.07% | -14.74% | 16.66% | -0.88 | | Non - ferrous Metals Index NHNF | 1922.50 | 1908.43 | 14.08 | 0.74% | 19.02% | 12.85% | 1.48 | | Black Index NHFI | 2536.94 | 2527.86 | 9.07 | 0.36% | -3.87% | 16.12% | -0.24 | | Agricultural Products Index NHAI | 1055.07 | 1049.30 | 5.78 | 0.55% | 3.31% | 7.92% | 0.42 | | Mini Composite Index NHCIMi | 1168.35 | 1167.06 | 1.29 | 0.11% | -0.56% | 8.78% | -0.06 | | Energy Index NHEI | 969.13 | 961.05 | 8.09 | 0.84% | -2.90% | 15.90% | -0.18 | | Petrochemical Index NHPCI | 896.72 | 892.09 | 4.63 | 0.52% | -0.07% | 10.12% | -0.01 | | Coal Chemical Index NHCCI | 917.95 | 907.15 | 10.80 | 1.19% | -1.88% | 11.17% | -0.17 | | Black Raw Materials Index NHFM | 1066.98 | 1063.40 | 3.58 | 0.34% | 0.01% | 15.01% | 0.00 | | Building Materials Index NHBMI | 693.67 | 688.02 | 5.65 | 0.82% | -0.69% | 11.69% | -0.06 | | Oilseeds and Oils Index NHOOI | 1220.58 | 1210.70 | 9.88 | 0.82% | -0.47% | 7.94% | -0.06 | | Economic Crops Index NHAECI | 923.72 | 919.25 | 4.48 | 0.49% | 0.82% | 7.54% | 0.11 | [6] Single - Variety Index Daily Changes in Some Sectors Energy and Chemical Sector | Variety | Daily Change | | --- | --- | | Synthetic Ammonia | 2.77% | | Coal | 0.48% | | Methanol | 2.68% | | Polypropylene | 0.75% | | Naphtha | 0.50% | | Crude Oil | 0.87% | | Low - Sulfur Fuel Oil | 0.57% | [2] Black Sector | Variety | Daily Change | | --- | --- | | Some varieties | -0.5% - 0.00% (approximate range) | [2] Agricultural Products Sector | Variety | Daily Change | | --- | --- | | Palm Oil | 1.72% | | Rapeseed Oil | 1.64% | | Rapeseed Meal | 0.51% | | Soybean Meal | 0.77% | | Rapeseed | 0.26% | | Rapeseed Cake | 0.67% | | Live Pigs | 0.64% | | Some other variety | -0.84% | [11] Group 3: Calculation Rules - The rise and fall in the text is the ratio of (today's closing price) to (yesterday's closing price). The contribution is the product of the rise and fall and the weight [7] - The Nanhua Commodity Index eliminates the price difference when commodity contracts are rolled over, reflecting the real return of investing in commodity futures [7] - The contribution calculation method used in the text: A variety's daily rise and fall / ∑|All varieties' daily rise and fall|. Red data bars represent rising varieties on the day, and blue data bars represent falling varieties on the day [7]

Group 1: Stock Indices - The Shanghai Composite Index closed at 3965.12 points on December 30, with a slight decrease of 0.16 points, representing a 0% change [4] - The Shenzhen Component Index increased by 66.97 points, closing at 13604.07 points, reflecting a 0.49% rise [4] - The CSI 300 Index rose by 11.91 points to close at 4651.28 points, marking a 0.26% increase [4] - The ChiNext Index saw an increase of 20.29 points, closing at 3242.90 points, which is a 0.63% gain [4] - The STAR Market 50 Index closed at 1359.87 points, up by 13.55 points, indicating a 1.01% increase [4] Group 2: Commodity Indices - The document includes various commodity indices such as live pigs, lithium carbonate, PTA, cotton, rebar, white sugar, rubber, PVC, crude oil, coking coal, palm oil, soda ash, soybean meal, glass, and red dates, but specific data for these commodities is not provided in the excerpts [5][9][11][13][15][16][18][20][22][23][25][26][28][30][31][39][42][44][46][48][49][51][53][55][56][58][59][61]

2025 年 12 月 30 日 合成橡胶：跟随商品指数回落 杨鈜汉 投资咨询从业资格号：Z0021541 yanghonghan025588@gtjas.com 【基本面跟踪】 合成橡胶基本面数据 | 项目 | | 项目名称 | | 昨日数据 | 前日数据 | 变动幅度 | | --- | --- | --- | --- | --- | --- | --- | | 期货市场 | 顺丁橡胶主力 （02合约） | 日盘收盘价 | （元/吨） | 11,600 | 11,635 | -35 | | | | 成交量 | （手） | 152,140 | 196,070 | -43930 | | | | 持仓量 | （手） | 59,203 | 64,505 | -5302 | | | | 成交额 | （万元） | 884,041 | 1,126,455 | -242413 | | 价差数据 | 基差 | 山东顺丁-期货主力 | | -100 | -285 | 185 | | | 月差 | BR02-BR05 | | -30 | -5 | -25 | | | 顺丁价格 | 华北顺丁 | （民营） | 11,000 | ...

1. Report Industry Investment Ratings - No specific industry investment ratings are provided in the report. 2. Core Views of the Report - The report provides daily research and analysis on various energy and chemical futures, including PX, PTA, MEG, rubber, synthetic rubber, LLDPE, PP, caustic soda, pulp, glass, methanol, urea, styrene, soda ash, LPG, propylene, PVC, fuel oil, low - sulfur fuel oil, container shipping index (European line), staple fiber, bottle chips, offset printing paper, and pure benzene. It analyzes the market trends, fundamentals, and provides corresponding trading suggestions for each product [2]. 3. Summary by Related Catalogs 3.1 PX, PTA, MEG - **PX**: High - level oscillation. Supply is marginally loose, with some domestic and overseas device changes. Demand from PTA devices decreases. It is expected to maintain a high - level oscillation before the holiday, and attention should be paid to position management [5][8]. - **PTA**: High - level oscillation. Supply increases as some devices restart. Demand from polyester has a marginal decline but remains at a high level. PTA maintains de - stocking, which is beneficial to the performance of the monthly spread and basis [9]. - **MEG**: The port inventory accumulates again, and the trend is still weak. Although there are some supply - side reduction expectations, the current inventory accumulation pattern is difficult to change. However, considering the cost factors, the inventory accumulation expectation is marginally improved, and interval operation is recommended [10]. 3.2 Rubber - Rubber shows a wide - range oscillation. The inventory in Qingdao has increased, and some tire enterprises have short - term maintenance plans at the end of the month and early next month, which has a certain impact on the overall tire enterprise capacity utilization rate [12][13]. 3.3 Synthetic Rubber - Synthetic rubber follows the decline of the commodity index. The fundamentals have weakened marginally in the past two weeks, and the futures price is at a premium to the spot price. It is expected to be weakly oscillating in the short term [15][17]. 3.4 LLDPE - For LLDPE, the upstream inventory is transferred, and the basis is stable. The raw material price rebounds, and the profit of the monomer link is compressed. The downstream demand is weak, and the supply side has some device changes. There is still supply - demand pressure in the medium term [18][19]. 3.5 PP - PP is expected to have a stable and oscillating market. Multiple PDH devices are planned for maintenance in January. The cost side has some changes, and the demand side is weak. The overall fundamentals have limited support at the end of the year, and attention should be paid to the marginal changes of PDH devices [21][22]. 3.6 Caustic Soda - Caustic soda is in a pattern of high production and high inventory. The demand side is weak, and the supply side has high - pressure due to high - start production in winter. The rebound space may be limited if manufacturers do not reduce production, and attention should be paid to the delivery pressure in January [24][26]. 3.7 Pulp - Pulp is in a weakly oscillating state. The price of imported pulp has increased in December, but the internal driving logic is differentiated. The overall demand is rigid, but the demand for different types of pulp varies. It is expected to be weakly oscillating [30][35]. 3.8 Glass - The price of glass raw sheets is stable. The spot price has ups and downs, and the overall market trading flexibility has increased, but the shipment in most areas is still average [37]. 3.9 Methanol - Methanol oscillates with support. The port inventory has increased significantly, and there is an expectation of further inventory accumulation. It oscillates repeatedly within the valuation range under the pattern of weak fundamentals and strong macro - environment. The cost side provides support for the lower valuation [40][42]. 3.10 Urea - Urea is in short - term oscillating operation. The inventory of urea enterprises has decreased, and the demand side has a phased improvement. The driving force is neutral, and the 05 contract has support below. The upper and lower fundamental price limits are estimated [44][47]. 3.11 Styrene - Styrene is in short - term oscillation. The supply - demand structure of the styrene industry chain provides some support for its price in 2026, but there are also risks such as high inventory of downstream products. It is expected to be in a wide - range oscillation with a low - front and high - back center of gravity throughout the year [48][51]. 3.12 Soda Ash - The spot market of soda ash has little change. The price is weakly stable and oscillating, and the trading is light. The comprehensive production has decreased, and the downstream demand is not strong [52]. 3.13 LPG and Propylene - **LPG**: The short - term supply is tight, and attention should be paid to the realization of the downward driving force. - **Propylene**: The spot supply - demand is tightening, and there is an expectation of a stop - falling and rebound [54][55]. 3.14 PVC - PVC is in a weakly oscillating state. The valuation is at a low level, and although there may be phased rebounds, the high - production and high - inventory structure is difficult to change in the short term. It is recommended to wait for the substantial large - scale maintenance plan on the supply side [63][64]. 3.15 Fuel Oil and Low - Sulfur Fuel Oil - **Fuel Oil**: The night - session volatility increases, and it may maintain a strong trend in the short term. - **Low - Sulfur Fuel Oil**: It is in a strongly oscillating state, and the spot price difference between high - and low - sulfur in the overseas market is temporarily stable [67]. 3.16 Container Shipping Index (European Line) - The container shipping index (European line) is in high - level oscillation. The core issues for the 2602 contract include the freight rate height, inflection point time, and price - decline rate. For the 2604 contract, short - selling on rallies has a relatively high probability of success. For the 2610 contract, pay attention to the progress of the second - stage peace talks in Gaza and short on rallies in the medium - to - long term [69][82]. 3.17 Staple Fiber and Bottle Chips - **Staple Fiber**: It is in high - level oscillation. The futures price is in weak consolidation, the spot price is stable, and the sales are mostly weak. - **Bottle Chips**: It is in high - level oscillation. The upstream raw material futures price has decreased, and the factory price has been lowered. The market trading atmosphere is weak [84][85]. 3.18 Offset Printing Paper - For offset printing paper, it is recommended to wait and see. The prices in the Shandong and Guangdong markets are stable, the scale paper mills' operating loads are basically stable, and the market new orders are few [87][88]. 3.19 Pure Benzene - Pure benzene is in short - term oscillation. The inventory in the East China port has increased, and the price has risen slightly. It is expected to be under pressure in the first quarter of 2026 and may rebound in the second quarter [92][93].

Group 1: Stock Indices - The Shanghai Composite Index closed up by 26.92 points, an increase of 0.69%, reaching 3917.36 points on December 22 [4] - The Shenzhen Component Index rose by 192.52 points, a gain of 1.47%, closing at 13332.73 points [4] - The CSI 300 Index increased by 43.45 points, up 0.95%, ending at 4611.62 points [4] - The ChiNext Index saw an increase of 69.75 points, a rise of 2.23%, closing at 3191.98 points [4] - The STAR Market 50 Index closed up by 26.66 points, an increase of 2.04%, reaching 1335.25 points [4] Group 2: Commodity Analysis - The document includes various commodities such as live pigs, lithium carbonate, glass, soybean meal, red dates, crude oil, rebar, silver, cotton, palm oil, soda ash, coking coal, sugar, PVC, PTA, and rubber, but specific data or analysis for these commodities is not provided in the excerpts [5][7][11][15][16][18][19][21][22][24][26][28]

Report Summary 1) Report Industry Investment Rating - No information provided. 2) Core View of the Report - According to the closing prices of adjacent trading days, the Nanhua Composite Index rose 0.03% today. Among the sector indices, the Nanhua Agricultural Products Index had the largest increase of 0.74%, and the Nanhua Energy and Chemical Index had the smallest increase of 0.04%. The Nanhua Precious Metals Index had the largest decline of -0.11%, and the Nanhua Industrial Products Index had the smallest decline of -0.02%. Among the theme indices, the Oilseeds and Oils Index had the largest increase of 0.7%, and the Energy Index had the smallest increase of 0.24%. The Building Materials Index had the largest decline of -0.67%, and the Coal Chemical Index had the smallest decline of -0.06% [1]. 3) Summary by Relevant Catalog Market Data of Nanhua Commodity Index - The Nanhua Composite Index rose 0.03%. Sector and theme indices had different performances in terms of increases and decreases [1]. Performance of Main Single - Variety Indices - In the agricultural products sector, palm oil decreased by -0.30%, rapeseed oil decreased by -0.38%, rapeseed increased by 0.67%, rapeseed meal increased by 1.60%, and live pigs increased by 2.23%. In the energy and chemical sector, some products like methanol increased by 1.23%, while others had different performance. The largest decline among single - variety indices was caustic soda with a decline of -1.41% [1][7][10].

1. Report Industry Investment Rating No relevant content provided. 2. Core View of the Report - This week, the Nanhua Composite Index dropped by 6.76 points, a decline of -0.27%. The most influential varieties were crude oil and palm oil, with the crude oil variety index having a change of -1.29% and a contribution of -0.21%, and the palm oil variety index having a change of -3.92% and a contribution of -0.18% [1][2]. - The Nanhua Industrial Products Index fell by 5.58 points, a decrease of -0.16%. The most influential varieties were crude oil and methanol, with the crude oil variety index contributing -0.23% and the methanol variety index contributing -0.14% [1][2]. - The Nanhua Metal Index remained unchanged, with the most influential variety being iron ore, contributing 0.63% [1][2]. - The Nanhua Energy and Chemical Index declined by 15.63 points, a fall of -0.97%. The most influential variety was crude oil, contributing -0.32% [2]. - The Nanhua Agricultural Products Index decreased by 6.53 points, a decline of -0.62%. The most influential variety was palm oil, contributing -0.52% [2]. 3. Summary According to Relevant Catalogs 3.1 Weekly Data Overview | Index Name | This Week's Closing | Last Week's Closing | Change in Points | Change Rate | This Week's Maximum | This Week's Minimum | Volatility | | --- | --- | --- | --- | --- | --- | --- | --- | | Composite Index NHCI | 2538.87 | 2545.63 | -6.76 | -0.27% | 2563.19 | 2538.87 | 24.32 | | Precious Metals Index NHPMI | 1514.74 | 1524.01 | -9.26 | -0.61% | 1524.01 | 1472.96 | 51.05 | | Industrial Products Index NHII | 3556.67 | 3562.25 | -5.58 | -0.16% | 3606.61 | 3556.67 | 49.94 | | National Index NHMI | 6485.90 | 6439.19 | 46.71 | 0.73% | 6556.67 | 6439.19 | 117.48 | | Energy and Chemical Index NHECI | 1590.82 | 1606.45 | -15.63 | -0.97% | 1617.32 | 1590.82 | 26.50 | | Non - ferrous Metals Index NHNFI | 1747.44 | 1753.74 | -6.30 | -0.36% | 1770.14 | 1746.52 | 23.62 | | Black Index NHFI | 2565.73 | 2516.31 | 49.42 | 1.96% | 2589.39 | 2516.31 | 73.08 | | Agricultural Products Index NHAI | 1049.31 | 1055.84 | -6.53 | -0.62% | 1058.58 | 1049.31 | 9.27 | | Gradual Composite New Index NHCIMi | 1177.34 | 1180.48 | -3.14 | -0.27% | 1190.73 | 1177.34 | 13.40 | | Energy Consumption NHEI | 1034.65 | 1042.63 | -7.98 | -0.77% | 1051.57 | 1034.65 | 16.93 | | Petrochemical New Ammonia NHPCI | 892.65 | 898.37 | -5.72 | -0.64% | 906.02 | 892.65 | 13.38 | | Coal - based Chemical Engineering Investment NHCCI | 945.83 | 962.13 | -16.30 | -1.69% | 965.14 | 945.83 | 19.31 | | Black Raw Materials Consumption NHFMI | 1091.71 | 1066.81 | 24.90 | 2.33% | 1102.09 | 1066.81 | 35.27 | | Building Materials Index NHBMI | 713.22 | 705.61 | 7.61 | 1.08% | 724.32 | 705.61 | 18.71 | | Oilseeds and Oils Index NHOOI | 1227.58 | 1235.04 | -7.45 | -0.60% | 1237.13 | 1226.26 | 10.88 | | Economic Crops Index NHAECI | 916.78 | 905.29 | 11.49 | 1.27% | 918.58 | 905.29 | 13.30 | [3] 3.2 Nanhua Variety Index Arbitrage Data - **Plate Index Ratios**: The ratio of the precious metals index to the composite index decreased from 0.599 to 0.597; the ratio of the metal index to the industrial products index increased from 1.808 to 1.824; the ratio of the industrial products index to the composite index increased from 1.399 to 1.401; the ratio of the energy and chemical index to the industrial products index decreased from 0.451 to 0.447; the ratio of the non - ferrous metals index to the industrial products index decreased from 0.492 to 0.491; the ratio of the black index to the industrial products index increased from 0.706 to 0.721; the ratio of the agricultural products index to the composite index decreased from 0.415 to 0.413 [9]. - **Other Ratios**: The ratio of gold to silver decreased from 2.755 to 2.682; the ratio of copper to the non - ferrous metals index decreased from 4.138 to 4.121; the ratio of aluminum to the non - ferrous metals index increased from 0.667 to 0.672; the ratio of zinc to the non - ferrous metals index increased from 0.523 to 0.525; the ratio of nickel to the non - ferrous metals index decreased from 0.914 to 0.906; the ratio of tin to the non - ferrous metals index increased from 1.365 to 1.369; the ratio of lead to the non - ferrous metals index decreased from 0.659 to 0.654; the ratio of silicon to the non - ferrous metals index increased from 0.182 to 0.186; the ratio of coke to coking coal decreased from 0.553 to 0.543; the ratio of rebar to the black index remained almost unchanged; the ratio of iron ore to the black index increased from 2.778 to 2.827; the ratio of polypropylene to polyethylene decreased from 1.770 to 1.769; the ratio of polypropylene to methanol increased from 2.862 to 2.951; the ratio of PTA to crude oil increased from 0.517 to 0.531; the ratio of asphalt to crude oil decreased from 0.452 to 0.450; the ratio of fuel oil to crude oil decreased from 1.285 to 1.270; the ratio of soybean meal to rapeseed meal increased from 2.433 to 2.506; the ratio of soybean oil to palm oil increased from 1.096 to 1.131; the ratio of soybean oil to rapeseed oil increased from 1.123 to 1.154; the ratio of rapeseed oil to palm oil increased from 0.975 to 0.980; the ratio of soybean oil to soybean meal increased from 2.937 to 3.036; the ratio of rapeseed oil to rapeseed meal decreased from 0.902 to 0.871; the ratio of corn to starch decreased from 1.379 to 1.378 [9] 3.3 Contribution of Each Variety to Index Changes - **Raw Materials and Others**: Raw materials had an average position of 3,685,516 hands, a month - on - month decrease of 8.72%, and a position share of 9.50%; polyethylene had an average position of 654,766 hands, a month - on - month decrease of 2.97%, and a position share of 1.69%; glass had an average position of 2,140,824 hands, a month - on - month increase of 6.65%, and a position share of 5.52%; hot - rolled coils had an average position of 1,989,219 hands, a month - on - month increase of 1.30%, and a position share of 5.13%; soda ash had an average position of 1,839,506 hands, a month - on - month decrease of 3.55%, and a position share of 4.74%; corn had an average position of 1,773,822 hands, a month - on - month increase of 1.19%, and a position share of 4.57%; methanol had an average position of 1,630,675 hands, a month - on - month increase of 11.44%, and a position share of 4.20%; PVC had an average position of 1,488,823 hands, a month - on - month increase of 1.33%, and a position share of 3.84%; PTA had an average position of 1,433,006 hands, a month - on - month decrease of 5.53%, and a position share of 3.69%; coking coal had an average position of 951,003 hands, a month - on - month increase of 8.61%, and a position share of 2.45%; iron ore had an average position of 927,488 hands, a month - on - month decrease of 1.31%, and a position share of 2.39%; cotton had an average position of 913,472 hands, a month - on - month decrease of 0.09%, and a position share of 2.35%; potassium carbonate had an average position of 879,432 hands, a month - on - month increase of 16.36%, and a position share of 2.27%; propylene had an average position of 874,578 hands, a month - on - month increase of 0.69%, and a position share of 2.25%; soybean oil had an average position of 795,020 hands, a month - on - month increase of 0.22%, and a position share of 2.05%; eggs had an average position of 698,987 hands, a month - on - month decrease of 9.85%, and a position share of 1.80%; silver had an average position of 697,383 hands, a month - on - month decrease of 9.82%, and a position share of 1.80%; rapeseed meal had an average position of 694,377 hands, a month - on - month increase of 1.64%, and a position share of 1.79% [13] - **Other Varieties**: Rand had an average position of 623,292 hands, a month - on - month increase of 17.01%, and a position share of 1.61%; styrene had an average position of 621,170 hands, a month - on - month increase of 0.70%, and a position share of 1.60%; powder had an average position of 607,835 hands, a month - on - month increase of 11.14%, and a position share of 1.57%; sugar had an average position of 551,877 hands, a month - on - month decrease of 2.90%, and a position share of 1.42%; palm oil had an average position of 535,294 hands, a month - on - month increase of 8.60%, and a position share of 1.38%; manganese silicon had an average position of 523,182 hands, a month - on - month decrease of 7.21%, and a position share of 1.35%; alumina had an average position of 506,061 hands, a month - on - month increase of 7.05%, and a position share of 1.30%; fuel oil had an average position of 459,791 hands, a month - on - month decrease of 3.88%, and a position share of 1.18%; industrial silicon had an average position of 426,870 hands, a month - on - month decrease of 1.63%, and a position share of 1.10%; rapeseed oil had an average position of 383,029 hands, a month - on - month decrease of 6.51%, and a position share of 0.99%; urea had an average position of 357,549 hands, a month - on - month decrease of 10.70%, and a position share of 0.92%; a certain variety had an average position of 354,585 hands, a month - on - month increase of 4.78%, and a position share of 0.91%; ethylene glycol had an average position of 353,015 hands, a month - on - month decrease of 4.09%, and a position share of 0.91%; gold had an average position of 347,369 hands, a month - on - month decrease of 6.12%, and a position share of 0.89%; asphalt had an average position of 341,230 hands, a month - on - month decrease of 5.78%, and a position share of 0.88%; pulp had an average position of 338,232 hands, a month - on - month decrease of 8.35%, and a position share of 0.87%; silicon iron had an average position of 333,671 hands, a month - on - month decrease of 13.67%, and a position share of 0.86% [13] 3.4 Nanhua Sector Index Weekly Data - **Industrial Products Index**: Closed at 3,556.67 this week, down 0.16% from last week. The most influential varieties were crude oil and methanol, with contributions of - 0.23% and - 0.14% respectively. There were 21 commodities in total, 6 rising, and 14 falling [15] - **Metal Index**: Closed at 6,485.90 this week, up 0.73% from last week. The most influential variety was iron ore, contributing 0.63%. There were 13 commodities in total, 3 rising [15] - **Energy and Chemical Index**: Closed at 1,590.82 this week, down 0.97% from last week. The most influential variety was crude oil, contributing - 0.32%. There were 20 commodities in total [15] - **Agricultural Products Index**: Closed at 1,049.31 this week, down 0.62% from last week. The most influential variety was palm oil, contributing - 0.52%. There were 13 commodities in total, 6 rising [15] - **Black Index**: Closed at 2,565.73 this week, up 1.96% from last week. The most influential varieties were iron ore, rebar, and coke, with contributions of 1.15%, 0.69%, and