8月5日，中国期货业协会最新统计资料表明，以单边计算，7月全国期货交易市场成交量为 1,058,719,289手,成交额为713,124.16亿元，同比分别增长48.89%和36.03%。1-7月全国期货市场累计成交 量为5,135,133,014手，累计成交额为4,110,402.52亿元，同比分别增长23.11%和23.09%。 上海期货交易所7月成交量为229,137,791手，成交额为195,745.13亿元，分别占全国市场的21.64%和 27.45%，同比分别增长13.23%和2.19%。7月末上海期货交易所持仓总量为11,435,096手，较上月末下降 2.33%。1-7月上海期货交易所累计成交量为1,330,099,663手，累计成交额为1,349,554.35亿元，同比分别 增长13.15%和21.76%，分别占全国市场的25.9%和32.83%。 上海国际能源交易中心7月成交量为14,607,467手，成交额为27,767.17亿元，分别占全国市场的1.38%和 3.89%，同比分别增长13.7%和下降1.68%。7月末上海国际能源交易中心持仓总量为429,144手，较上月 下降16.03 ...

上海期货交易所11月成交量为181,507,953手，成交额为234,080.59亿元，分别占全国市场的23.59%和 35.14%，同比分别下降14.31%和增长19.66%。11月末上海期货交易所持仓总量为11,121,259手，较上月 末增长0.51%。1-11月上海期货交易所累计成交量为2,034,977,584手，累计成交额为2,166,436.91亿元， 同比分别下降1.8%和增长16.57%，分别占全国市场的25.07%和32.07%。 上海国际能源交易中心11月成交量为9,918,434手，成交额为15,966.37亿元，分别占全国市场的1.29%和 2.4%，同比分别下降14.96%和下降35.94%。11月末上海国际能源交易中心持仓总量为469,531手，较上 月增长2.33%。1-11月上海国际能源交易中心累计成交量为145,175,968手，累计成交额为271,805.09亿 元，同比分别增长12.37%和下降6.52%，分别占全国市场的1.79%和4.02%。 中国期货业协会最新统计资料表明，以单边计算，11月全国期货交易市场成交量为769,588,116手,成交 额为666,113 ...

Core Viewpoint - The latest statistics from the China Futures Association indicate a mixed performance in the national futures market, with a notable increase in trading volume and value year-to-date, while October showed a decline in trading volume but an increase in trading value compared to the previous year [2][5]. Trading Volume and Value - In October, the national futures market recorded a trading volume of 603 million contracts and a trading value of 61.22 trillion yuan, representing a year-on-year decrease of 13.26% in volume but an increase of 4.54% in value [2]. - From January to October, the cumulative trading volume reached 7.347 billion contracts, with a cumulative trading value of 608.84 trillion yuan, showing year-on-year increases of 14.86% in volume and 21.82% in value [2]. Popular Futures Products - As of October, there are 160 listed futures and options products in China. The top three products by trading value in October were gold, silver, and copper on the Shanghai Futures Exchange, while the top products by trading volume included silver, rebar, and silver options [3]. - Gold futures and the CSI 1000 index futures emerged as the most popular products, with gold futures achieving a cumulative trading volume of 91.84 million contracts and a trading value of 7.132 trillion yuan from January to October, marking year-on-year increases of 58.24% and 121.65%, respectively [3][4]. - The CSI 1000 index futures recorded a cumulative trading volume of 48.63 million contracts and a trading value of 6.21 trillion yuan, with year-on-year increases of 34.75% and 68.03% [4]. Industry Profitability Disparities - As of September 2025, there are 150 futures companies in China, with total agency trading volume of 71.61 trillion yuan and net profits of 11.98 billion yuan for the first nine months of the year [5]. - The performance of different companies varies significantly, with some companies like Ruida Futures and Yong'an Futures reporting positive net profit growth, while others like Hongye Futures faced substantial declines in revenue and profits [5][6]. - Ruida Futures reported a total revenue of 1.621 billion yuan, down 2.87% year-on-year, but a net profit increase of 42.15% to 386 million yuan [5].

Core Insights - The overall trading volume in China's futures market for October decreased by 13.26% year-on-year, while the trading value increased by 4.54% [1][13][11]. Trading Volume Summary - The total trading volume for October reached 602,959,319 contracts, with a trading value of 612,202.38 billion yuan [1]. - Shanghai Futures Exchange accounted for 27.76% of the national market volume, with a trading volume of 167,359,314 contracts, down 22.62% year-on-year [1][11]. - Zhengzhou Commodity Exchange had a trading volume of 193,494,988 contracts, representing 32.09% of the national market, also down 22.62% year-on-year [2][11]. - Dalian Commodity Exchange reported a trading volume of 173,280,720 contracts, with a slight increase of 1.03% year-on-year [3][11]. - Guangzhou Futures Exchange saw a significant increase in trading volume by 98.04% year-on-year, totaling 35,268,483 contracts [4][11]. Trading Value Summary - The total trading value for October was 612,202.38 billion yuan, with Shanghai Futures Exchange contributing 40.53% of this value, amounting to 248,124.72 billion yuan, up 37.8% year-on-year [1][14]. - The trading value for Zhengzhou Commodity Exchange was 53,712.66 billion yuan, accounting for 8.77% of the national market, down 28.58% year-on-year [2][14]. - Dalian Commodity Exchange's trading value was 68,003.90 billion yuan, down 6.26% year-on-year [3][14]. - Guangzhou Futures Exchange experienced a remarkable increase in trading value by 130.69% year-on-year, reaching 20,992.18 billion yuan [4][14]. Cumulative Trading Summary (January to October) - The cumulative trading volume for the first ten months of the year was 7,347,119,512 contracts, with a cumulative trading value of 6,088,356.69 billion yuan, reflecting year-on-year increases of 14.86% and 21.82%, respectively [1][7]. - Shanghai Futures Exchange's cumulative trading value was 1,932,356.32 billion yuan, representing 31.74% of the national market, with a year-on-year increase of 16.2% [1][9]. - Zhengzhou Commodity Exchange's cumulative trading value was 732,194.96 billion yuan, with a slight increase of 0.8% year-on-year [2][9]. - The cumulative trading value for Guangzhou Futures Exchange surged by 150.44% year-on-year, totaling 219,944.96 billion yuan [4][9]. Open Interest Summary - As of the end of October, the total open interest in the national futures market increased by 12.01% from the previous month [16][18]. - Shanghai Futures Exchange's open interest was 11,064,434 contracts, up 11.15% month-on-month [1][18]. - Zhengzhou Commodity Exchange reported an open interest of 16,801,807 contracts, reflecting a month-on-month increase of 22.13% [2][18]. - Dalian Commodity Exchange's open interest increased by 6.14% month-on-month, totaling 17,646,930 contracts [3][18].