摘要：依照相邻交易日的收盘价计算，今日南华综合指数下跌-0.84%。板块指数中，只有南华黑色指数，上涨 0.32%，其余板块均是下跌，跌幅最大的板块是南华贵金属指数，跌幅为-1.15%，跌幅最小的板块是南华金属指 数，跌幅为-0.4%。 主题指数中，涨幅最大的主题指数是黑色原材料指数，上涨0.49%，涨幅最小的主题指数是经济 作物指数，涨幅为0.38%，跌幅最大的主题指数是能源指数，跌幅为-1.23%，跌幅最小的主题指数是建材指数，跌 幅为-0.15%。 商品期货单品种指数中，涨幅最大的单品种指数是线材，上涨3.01% 南华商品指数：黑色板块上涨，贵金属板块领跌 王怡琳 2025-10-10 16:47:58 > 南华期货 gger mind, Bigger fortur 智慧创造财富 南华商品指数日报 2025年10月10日 南华商品指数市场数据 | 今收盘 | 昨收盘 | 点数 | 日 啊 | 年化收益率 | 年化渡动率 | Sharpe | 指数名称 | Today Close | Pre. Close | ARR | Points | ది? | An. Vol | Ratio | 2572.47 | ...

1. Report Industry Investment Rating - No information about the report industry investment rating is provided in the content. 2. Report's Core View - The report provides short - term, medium - term, and intraday views on several agricultural commodity futures, including soybean meal, soybean oil, and palm oil, with most of them being "oscillating and moderately strong" [5][6][7]. 3. Summary by Variety Soybean Meal (M) - **View**: Short - term view is oscillating, medium - term view is oscillating, intraday view and reference view are oscillating and moderately strong [5][6]. - **Core Logic**: The domestic market supply pressure is increasing, and concerns about short - term supply pressure persist. As the National Day holiday approaches, market funds tend to trade short - term logic with poor stability. Without unexpected risk factors, market volatility may decline before the holiday, and a rebound may occur after short - term market sentiment is released [5]. Palm Oil (P) - **View**: Short - term view is oscillating, medium - term view is oscillating, intraday view and reference view are oscillating and moderately strong [6][7]. - **Core Logic**: Due to increased production and decreased exports, Indonesia's palm oil inventory at the end of July increased by 1.5% month - on - month to 2.57 million tons. The EU's one - year delay in implementing the anti - deforestation law has eased the decline of Malaysian palm oil, and palm oil futures prices have rebounded slightly [7]. Soybean Oil (Y) - **View**: Short - term view is oscillating, medium - term view is oscillating, intraday view and reference view are oscillating and moderately strong [6]. - **Core Logic**: Influenced by US biofuel policies, US soybean oil inventory, domestic soybean cost support, supply rhythm, and oil refinery inventory [6].

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0.35%。板块指数中，只有南华有色金属指数，下 跌-0.21%，其余板块均是上涨，涨幅最大的板块是南华贵金属指数，涨幅为0.49%，涨幅最小的板块是南华金属指 数，涨幅为0.02%。 主题指数中，涨幅最大的主题指数是能源指数，上涨1.17%，涨幅最小的主题指数是经济作物 指数，涨幅为0.07%，跌幅最大的主题指数是煤制化工指数，跌幅为-0.59%，跌幅最小的主题指数是油脂油料指 数，跌幅为-0.02%。 商品期货单品种指数中，涨幅最大的单品种指数是低硫燃料油，上涨 南华综合指数和板块指数历史走势图（归一化） 返還 參考資 參考 alfar frame as and and the see and the seems of the seems of the seems of the seems of the seems of the seems of the seems of the seems of the seems and the series and the seems and th 1.00 0,50 17/5/26 21/5/26 23/5/2 ...

摘要：依照相邻交易日的收盘价计算，今日南华综合指数下跌-0.03%。板块指数中，涨幅最大的板块是南华贵金属 指数，上涨2.77%，涨幅最小的板块是南华农产品指数，涨幅为0.08%，跌幅最大的板块是南华黑色指数，跌幅 为-1.9%，跌幅最小的板块是南华有色金属指数，跌幅为-0.06%。 主题指数中，只有油脂油料指数，上涨0.17%， 其余主题指数均是下跌，跌幅最大的主题指数是黑色原材料指数，跌幅为-2.53%，跌幅最小的主题指数是煤制化工 指数，跌幅为-0.07%。 商品期货单品种指数中，涨幅最大的单品种指数是白银，上涨 股票代码 603093 > 南华期货 南华商品指数日报 2025年9月1日 投资咨询业务资格：证监许可【 2011 】1290号 南华商品指数市场数据 T 年代 8月24日 点數 Points 日輕 年化收益率 ABB 指数名称 综合指数 NHCl 资金属指数 NHPMI 工业品指数 NHII 252131 12731 1273 01 3614 48 - 0.778 35.30 -23.17 -0.03% 4.17% 33.89% 0.31 2.08 2.08 -0.22 2.77% -0.6 ...

主要单品种指数收益率VS波动率 in | "" * 米 采 用 星 * * 后 音 出 出 英 超 出 主要单品种指数当日持仓额变化比例 w ** 各品种当日涨跌幅 对指数涨跌幅的贡献程度 葡萄盆生生生生生生生生生 葡萄酒堂 3 # 网易 3 = 网易出品 = 企属指数 品种 t # and Base Bron 南华商品指数：有色板块领涨，黑色板块领跌 王怡琳 2025-08-29 16:42:01 摘要：依照相邻交易日的收盘价计算，今日南华综合指数下跌-0.05%。板块指数中，涨幅最大的板块是南华有色金 属指数，上涨0.26%，涨幅最小的板块是南华农产品指数，涨幅为0.05%，跌幅最大的板块是南华黑色指数，跌幅 为-1.04%，跌幅最小的板块是南华工业品指数，跌幅为-0.18%。 主题指数中，涨幅最大的主题指数是经济作物指 数，上涨0.5%，涨幅最小的主题指数是能源指数，涨幅为0.06%，跌幅最大的主题指数是建材指数，跌幅 为-0.92%，跌幅最小的主题指数是油脂油料指数，跌幅为-0.02%。 商品期货单品种指数 –10.81% –22.30% 純碱 焦炭 南华综合指数和板块指数历史走势图（归一化） 용 홈 ...

Report Summary 1. Index Performance - The Nanhua Composite Index declined by -0.34% based on the closing prices of adjacent trading days [1][3]. - Among the sector indices, only the Nanhua Agricultural Products Index rose by 0.09%, while the rest declined. The Nanhua Black Index had the largest decline of -0.62%, and the Nanhua Non - Ferrous Metals Index had the smallest decline of -0.39% [1][3]. - In the theme indices, the Oilseeds and Oils Index had the largest increase of 0.28%, and the Coal Chemical Index had the smallest increase of 0.04%. The Building Materials Index had the largest decline of -1.01%, and the Petrochemical Index had the smallest decline of -0.2% [1]. - For the single - variety commodity futures indices, the Urea Index had the largest increase of 3.50%, and the Building Materials Index had the largest decline of -3.44% [3]. 2. Index Charts - There are historical trend charts of the Nanhua Composite Index, sector indices, and theme indices (normalized) [2]. - There are also industrial chain diagrams and single - variety index daily price change charts for some varieties in the energy - chemical, black, and agricultural product sectors [2][9]

Group 1: Report Summary - The South China Composite Index fell by -0.15% based on the closing prices of adjacent trading days [1]. - Among the sector indices, the South China Precious Metals Index had the largest increase of 0.38%, and the South China Agricultural Products Index had the smallest increase of 0.11%. The South China Black Index had the largest decline of -0.85%, and the South China Non - Ferrous Metals Index had the smallest decline of -0.25% [1]. - Among the theme indices, the Oilseeds and Oils Index had the largest increase of 0.6%, and the Petrochemical Index had the smallest increase of 0.04%. The Black Raw Materials Index had the largest decline of -0.84%, and the Mini Composite Index had the smallest decline of -0.23% [1]. Group 2: Index Data - **South China Composite Index**: Today's close was 2532.31, yesterday's close was 2536.21, with a daily decline of -0.15%, an annualized return of -17.63%, and an annualized volatility of 13.21% [6]. - **Sector Index Performance**: Different sector indices had varying levels of increase and decrease, with precious metals rising and black sectors falling significantly [1]. - **Theme Index Performance**: Oilseeds and oils theme index showed a relatively large increase, while the black raw materials theme index had a large decline [1]. Group 3: Commodity Futures Single - Variety Index - In the agricultural products sector, palm oil had a 1.31% increase, rapeseed had a 1.73% increase, etc. In the energy and chemical sector, synthetic ammonia had a -0.84% decline, methanol had a -0.66% decline, etc. In the black sector, some coal - related products had different levels of increase and decrease [2][7].

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Report Core View - The short - term, medium - term, and intraday views of soybean meal, palm oil, and soybean oil are mostly "oscillating strongly". The core logics involve factors such as raw material cost support, policy influence, and supply - demand relationships [5][6][7]. 3. Summary by Variety Soybean Meal (M) - **View**: Intraday view is oscillating strongly, medium - term view is oscillating, and the reference view is oscillating strongly [5]. - **Core Logic**: Although the high premium of Brazilian soybeans has slightly declined, the pattern is hard to change before the substantial improvement of US soybean exports, providing cost support for domestic soybean meal. Due to the disturbance of Sino - US trade relations and the transfer of funds, the futures price of soybean meal has high - level fluctuations, with short - term oscillation and strong tendency and the repair of internal - external price difference [5]. Palm Oil (P) - **View**: Intraday view is oscillating strongly, medium - term view is oscillating, and the reference view is oscillating strongly [7]. - **Core Logic**: The July supply - demand data of the Malaysian Palm Oil Board is neutral to positive. Indonesia and Malaysia have raised export tariffs, supporting price resilience. The Indonesian biodiesel policy provides long - term support for prices. Domestic palm oil futures prices follow international trends and are prone to rise in the short term [7]. Soybean Oil (2601) - **View**: Short - term is strong, medium - term is oscillating, intraday and reference views are oscillating strongly [6]. - **Core Logic**: It is affected by US biofuel policy, US soybean oil inventory, domestic soybean cost support, supply rhythm, and oil mill inventory [6]. Palm (2601) - **View**: Short - term is strong, medium - term is oscillating, intraday and reference views are oscillating strongly [6]. - **Core Logic**: It is related to biodiesel attributes, Malaysian palm production and exports, Indonesian exports, main - producing countries' tariff policies, domestic arrivals and inventory, and substitution demand [6]. Soybean Meal (2601) - **View**: Short - term and medium - term are oscillating, intraday and reference views are oscillating strongly [6]. - **Core Logic**: It is affected by import arrival rhythm, customs clearance inspection, oil mill operation rhythm, and stocking demand [6].

Report Information - Report Name: Nanhua Commodity Index Daily Report [2] - Date: August 14, 2025 [2] - Author: Nanhua Index Group, including Cao Yanghui, Zhao Bo, and Wang Yilin [2] Investment Rating - No investment rating information is provided in the report. Core View - According to the closing prices of adjacent trading days, the Nanhua Composite Index declined by -0.81% today. Among the sector indices, only the Nanhua Precious Metals Index rose by 0.02%, while the rest of the sectors declined. The sector with the largest decline was the Nanhua Black Index, down -1.56%, and the sector with the smallest decline was the Nanhua Non-Ferrous Metals Index, down -0.63%. All theme indices declined, with the Black Raw Materials Index having the largest decline of -1.99% and the Economic Crops Index having the smallest decline of -0.04%. Among the single-variety indices of commodity futures, the caustic soda index had the largest increase of 1.26%, and the rapeseed meal index had the largest decline of -3.05% [1][3][4]. Index Performance Summary Composite and Sector Indices - Nanhua Composite Index (NHCI): Closed at 2534.95, down -0.81% from the previous close of 2555.72, with an annualized return of 0.35% and an annualized volatility of 13.73% [3]. - Nanhua Precious Metals Index (NHPMI): Closed at 1261.11, up 0.02% from 1260.91, with an annualized return of 29.51% and an annualized volatility of 16.60% [3]. - Nanhua Industrial Products Index (NHII): Closed at 3650.38, down -0.89% from 3683.10, with an annualized return of -6.10% and an annualized volatility of 16.15% [3]. - Nanhua Metal Index (NHMI): Closed at 6464.57, down -1.02% from 6531.47, with an annualized return of 1.60% and an annualized volatility of 14.94% [3]. - Nanhua Energy and Chemical Index (NHECI): Closed at 1681.16, down -0.70% from 1693.04, with an annualized return of -12.75% and an annualized volatility of 18.40% [3]. - Nanhua Non-Ferrous Metals Index (NHNF): Closed at 1713.87, down -0.63% from 1724.76, with an annualized return of 5.63% and an annualized volatility of 13.41% [3]. - Nanhua Black Index (NHFI): Closed at 2582.71, down -1.56% from 2623.70, with an annualized return of -8.58% and an annualized volatility of 21.92% [3]. - Nanhua Agricultural Products Index (NHAI): Closed at 1113.19, down -0.86% from 1122.89, with an annualized return of 5.55% and an annualized volatility of 9.53% [3]. - Nanhua Mini Composite Index (NHCIMi): Closed at 1191.43, down -0.91% from 1202.38, with an annualized return of 3.23% and an annualized volatility of 14.63% [3]. - Nanhua Energy Index (NHEI): Closed at 1058.07, down -1.05% from 1069.32, with an annualized return of 2.54% and an annualized volatility of 29.87% [3]. - Nanhua Petrochemical Index (NHPCI): Closed at 945.19, down -0.85% from 953.29, with an annualized return of 0.75% and an annualized volatility of 15.28% [3]. - Nanhua Coal Chemical Index (NHCCI): Closed at 1036.33, down -1.00% from 1046.83, with an annualized return of 1.17% and an annualized volatility of 17.17% [3]. - Nanhua Black Raw Materials Index (NHFM): Closed at 1067.01, down -1.99% from 1088.67, with an annualized return of 7.32% and an annualized volatility of 23.31% [3]. - Nanhua Building Materials Index (NHBMI): Closed at 763.35, down -0.72% from 768.87, with an annualized return of 3.25% and an annualized volatility of 23.12% [3]. - Nanhua Oilseeds and Oils Index (NHOOI): Closed at 1287.05, down -1.18% from 1302.40, with an annualized return of 3.74% and an annualized volatility of 10.27% [3]. - Nanhua Economic Crops Index (NHAECI): Closed at 910.15, down -0.04% from 910.49, with an annualized return of 1.89% and an annualized volatility of 5.65% [3]. Theme Indices - All theme indices declined, with the Black Raw Materials Index having the largest decline of -1.99% and the Economic Crops Index having the smallest decline of -0.04% [4] Single-Variety Indices - The caustic soda index had the largest increase of 1.26%, and the rapeseed meal index had the largest decline of -3.05% [1][4] Contribution to Index Movements - For the Nanhua Composite Index, positive contributors included soda ash (4.15%), while negative contributors included zinc (-1.52%), aluminum (-1.80%), and PVC (-1.98%) [8] - For the Nanhua Mini Composite Index, positive contributors included soda ash (7.44%), while negative contributors included zinc (-32.55%), aluminum (-1.80%), and PVC (-1.98%) [8] - For the Nanhua Industrial Products Index, positive contributors included soda ash (4.69%), while negative contributors included iron ore (-1.68%), crude oil (-1.61%), and zinc (-1.67%) [8] - For the Nanhua Metal Index, positive contributors included caustic soda (2.54%), while negative contributors included tin (-6.52%), aluminum (-3.51%), and zinc (-3.51%) [8] - For the Nanhua Energy and Chemical Index, positive contributors included soda ash (7.47%), while negative contributors included crude oil (-16.62%), iron ore (-19.37%), and PVC (-9.11%) [8] - For the Nanhua Agricultural Products Index, positive contributors included cotton (1.45%), while negative contributors included rapeseed meal (-17.58%), palm oil (-22.79%), and soybean meal (-14.26%) [8] Other Information - The calculation of price changes is (today's closing price - yesterday's closing price) / yesterday's closing price, and the contribution is the product of price change and weight [11] - The Nanhua Commodity Index excludes the price difference when changing commodity contracts, reflecting the real return of investing in commodity futures [11] - The contribution calculation method used is: a variety's daily price change / ∑|all varieties' daily price changes|, with yellow data bars indicating a daily increase and blue data bars indicating a daily decrease [11]

Report Summary 1) Report Industry Investment Rating No relevant information provided. 2) Core Views of the Report - The short - term outlook for both soybean meal and palm oil futures prices is expected to be on the stronger side, while the medium - term outlook for both is oscillatory [5][6][8]. 3) Summary by Relevant Catalog For Soybean Meal (M): - **Price Movement and Views**: The intraday view is oscillatory and on the stronger side, the medium - term view is oscillatory, and the reference view is oscillatory and on the stronger side. The short - term view of the 2601 contract is oscillatory, the medium - term view is oscillatory, and the intraday view is oscillatory and on the stronger side [5][7]. - **Core Logic**: The industrial chain environment remains unchanged, and market trading is mainly based on expected changes. The determination of dumping of Canadian - origin rapeseed by China has led to tense trade relations between China and Canada, and changes in Sino - US trade relations continue to affect market sentiment [5]. For Palm Oil (P): - **Price Movement and Views**: The intraday view is oscillatory and on the stronger side, the medium - term view is oscillatory, and the reference view is oscillatory and on the stronger side. The short - term view of the 2601 contract is on the stronger side, the medium - term view is oscillatory, and the intraday view is oscillatory and on the stronger side [6][7][8]. - **Core Logic**: The rotation market in the oil and fat sector continues. Palm oil is continuously affected by bio - energy policies, showing an obvious upward trend. The change in Sino - Canadian rapeseed trade relations has reignited the sentiment in the rapeseed oil market, leading to a catch - up rise and a platform breakthrough. The linkage support among oil and fat varieties is expected to strengthen [8]. For Soybean Oil (2601): - **Price Movement and Views**: The short - term view is on the stronger side, the medium - term view is oscillatory, the intraday view is oscillatory and on the stronger side, and the reference view is oscillatory and on the stronger side [7]. - **Core Logic**: Influenced by US bio - fuel policies, US soybean oil inventory, domestic soybean cost support, supply rhythm, and oil mill inventory [7].