跌0.04%，2605合约收跌0.04%，盘中冲高回落，显示价格反弹乏力。 研究员: 张昕 期货从业资格号F03109641 期货投资咨询从业证书号Z0018457 免责声明 本报告中的信息均来源于公开可获得资料，瑞达期货股份有限公司力求准确可靠，但对这些信息的准确性及完整性不做任 何保证，据此投资，责任自负。本报告不构成个人投资建议，客户应考虑本报告中的任何意见或建议是否符合其特定状况。本 报告版权仅为我公司所有，未经书面许可，任何机构和个人不得以任何形式翻版、复制和发布。如引用、刊发，需注明出处为 瑞达期货股份有限公司研究院，且不得对本报告进行有悖原意的引用、删节和修改。 生猪产业日报 2026-02-02 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货盘面 | 期货主力合约收盘价:生猪(日,元/吨) | 11220 | 0 主力合约持仓量:生猪(日,手) | 95950 | -5767 | | | 仓单数量:生猪(日,手) | 0 | 0 期货前20名持仓:净买单量:生猪(日,手) | ...

投资咨询系列报告 山金期货贵金属策略报告 更新时间：2026年02月02日16时12分 报告导读： 今日贵金属几乎全线跌停，沪金主力收跌15.73%，沪银主力收跌17%，铂金主力收跌16%，钯金主力收涨跌16%。①核心逻辑， 短期避险方面，贸易战与地缘异动风险短期缓和，中长期仍存；新联储主席预期偏鹰，美国就业走弱通胀压力仍存，降息预期渐近 尾声，缩表预期重创贵金属。②避险属性方面，前期围绕格陵兰岛资源争端及北美贸易关税摩擦的地缘紧张局势在近日出现缓和迹 象。最新特朗普称俄对乌部分地区停火一周，贸易战与地缘异动风险短期缓和。③货币属性方面，特朗普提名前美联储理事沃什接 替鲍威尔，新提名引爆鹰派预期，其主张缩减资产负债表并对降息持谨慎态度，贵金属遭遇史诗级抛售。美国12月PPI创五个月来 最大环比涨幅，意味着未来数月通胀可能加速，让美联储能够在一段时间内维持利率稳定。目前市场预期美联储降息年内完成，下 次降息或到6月。美元指数和美债收益率低位反弹；④商品属性方面，关注银铂钯需求证伪风险。白银受到供应偏紧支撑。铂金氢 能产业铂基催化剂需求预期强劲。钯金短期需求仍有韧性，长期面临燃油车市场结构性压力。CRB商品指数震 ...

数据来源第三方，观点仅供参考。市场有风险，投资需谨慎！ 备注：HC：热轧卷板 研究员: 蔡跃辉 期货从业资格号F0251444 期货投资咨询从业证书号Z0013101 免责声明 本报告中的信息均来源于公开可获得资料，瑞达期货股份有限公司力求准确可靠，但对这些信息的准确性及完整性不做任何保证，据此投资，责任 自负。本报告不构成个人投资建议，客户应考虑本报告中的任何意见或建议是否符合其特定状况。本报告版权仅为我公司所有，未经书面许可，任 何机构和个人不得以任何形式翻版、复制和发布。如引用、刊发，需注明出处为瑞达期货股份有限公司研究院，且不得对本报告进行有悖原意的引 用、删节和修改。 热轧卷板产业链日报 2026/2/2 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | HC 主力合约收盘价(元/吨) | 3,261 | -27↓ HC 主力合约持仓量(手) | 1498793 | -30859↓ | | | HC 合约前20名净持仓(手) | -31,176 | +971↑ HC5-10合 ...

本报告中的信息均来源于公开可获得资料，瑞达期货股份有限公司力求准确可靠，但对这些信息的准确性及完整性不做任 何保证，据此投资，责任自负。本报告不构成个人投资建议，客户应考虑本报告中的任何意见或建议是否符合其特定状况。本 数据来源第三方，观点仅供参考。市场有风险，投资需谨慎！ ，预计排产量高位；新能源汽车产销继续爬升，三元电池贡献小幅需求增量。国内镍库存增长加快，市场 研究员: 陈思嘉 期货从业资格证F03118799 期货投资咨询从业证书号Z0022803 逢回调采买为主，现货升水下跌；海外LME库存延续增长，现货升水下调。技术面，持仓减量价格下挫， 多头氛围降温。观点参考：预计短线沪镍偏弱调整，关注12.6支撑。 免责声明 沪镍产业日报 2026-02-02 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 期货主力合约收盘价:沪镍(日,元/吨) | 129650 | -10350 03-04月合约价差:沪镍(日,元/吨) | 250 | 650 | | | LME3个月镍(日,美元 ...

1. Report Industry Investment Rating - Not provided in the content 2. Core Views Corn - The U.S. corn supply - demand pattern is relatively loose, constraining international corn prices, and there is still potential import pressure in the international market [2]. - Near the Spring Festival, the grain - holding entities' selling mentality has loosened, increasing the corn market supply. After the previous policy - grain auctions, enterprise inventories have risen above the safety line, and most grain - using enterprises' pre - festival stockpiling is basically over. The market trading enthusiasm has declined, and deep - processing enterprises' purchase prices have slightly decreased [2]. - The futures market is supported by strong spot prices, maintaining a relatively strong oscillation, but the upside pressure is still large, and the short - term high has declined [2]. Corn Starch - Near the Spring Festival, downstream demand is good,提货 is active, and the overall inventory has decreased. However, the overall inventory level is still relatively high [3]. - The starch futures market has maintained an oscillation recently, and it is advisable to wait and see in the short term [3]. 3. Summary by Relevant Catalogs Futures Market - Corn futures closing price (active contract) is 2261 yuan/ton, down 10 yuan; corn starch futures closing price (active contract) is 2513 yuan/ton, down 8 yuan [2]. - Corn monthly spread (5 - 9) is - 25 yuan/ton, down 4 yuan; corn starch monthly spread (3 - 5) is - 59 yuan/ton, up 8 yuan [2]. - Corn futures trading volume (active contract) is 760192 lots, down 114507 lots; corn starch futures trading volume (active contract) is 151286 lots, down 6295 lots [2]. - The net long position of the top 20 futures holders of corn is - 132837 lots, up 54494 lots; that of corn starch is - 23889 lots, up 3630 lots [2]. - Corn registered warehouse receipts are 54881 lots, up 2836 lots; corn starch registered warehouse receipts are 11611 lots, unchanged [2]. - The CS - C spread of the main contract is 307 yuan/ton, down 5 yuan [2]. Outer Market - CBOT corn futures closing price (active contract) is 428.25 cents/bushel, down 2.75 cents; CBOT corn total trading volume (weekly) is 1667786 contracts, up 54400 contracts [2]. - CBOT corn non - commercial net long position (weekly) is - 51704 contracts, down 18281 contracts [2]. Spot Market - The average spot price of corn is 2373.43 yuan/ton, down 2.84 yuan; the ex - factory price of corn starch in Changchun is 2610 yuan/ton, unchanged [2]. - The FOB price of corn at Jinzhou Port is 2330 yuan/ton, down 10 yuan; the ex - factory price of corn starch in Weifang is 2790 yuan/ton, unchanged [2]. - The CIF price of imported corn is 2036.6 yuan/ton, down 34.17 yuan; the ex - factory price of corn starch in Shijiazhuang is 2770 yuan/ton, unchanged [2]. - The international freight of imported corn is 52 US dollars/ton, up 5 US dollars [2]. - The basis of the main corn contract is 112.43 yuan/ton, up 7.16 yuan; the basis of the main corn starch contract is 97 yuan/ton, up 8 yuan [2]. - The spread between Shandong starch and corn (weekly) is 444 yuan/ton, unchanged; the spread between tapioca starch and corn starch (weekly) is 573 yuan/ton, down 4 yuan [2]. - The spread between corn starch and 30 - powder is - 205 yuan/ton, down 1 yuan [2]. Upstream Situation - The predicted annual corn yield in the U.S. is 425.53 million tons, and the sown area is 36.44 million hectares, both unchanged [2]. - The predicted annual corn yield in Brazil is 131 million tons, and the sown area is 22.6 million hectares, both unchanged [2]. - The predicted annual corn yield in Argentina is 53 million tons, and the sown area is 7.5 million hectares, both unchanged [2]. - The predicted annual corn yield in China is 295 million tons, and the sown area is 44.3 million hectares, both unchanged [2]. - The predicted annual corn yield in Ukraine is 29 million tons, down 3 million tons [2]. Industry Situation - The corn inventory at southern ports (weekly) is 50.5 tons, down 19.2 tons; the deep - processing corn inventory (weekly) is 440.5 tons, up 56.7 tons [2]. - The corn inventory at northern ports (weekly) is 180 tons, up 5 tons; the weekly inventory of starch enterprises (weekly) is 102.8 tons, down 4.1 tons [2]. - The monthly import volume of corn is 80 tons, up 24 tons; the monthly export volume of corn starch is 16.74 tons, down 0.2 tons [2]. - The monthly output of feed is 3008.6 tons, up 30.7 tons [2]. Downstream Situation - The sample feed corn inventory days (weekly) are 31.93 days, up 0.61 days [2]. - The deep - processing corn consumption (weekly) is 138.54 tons, up 0.39 tons [2]. - The alcohol enterprise operating rate (weekly) is 57.43%, up 0.1%; the starch enterprise operating rate (weekly) is 59.99%, down 0.47% [2]. - The corn starch processing profit in Shandong is - 32 yuan/ton, down 10 yuan; in Hebei, it is 53 yuan/ton, unchanged; in Jilin, it is - 91 yuan/ton, unchanged [2]. Option Market - The 20 - day historical volatility of corn is 9.13%, up 0.18%; the 60 - day historical volatility of corn is 9.03%, down 0.13% [2]. - The implied volatility of at - the - money call options for corn is 10.71%, up 0.85%; the implied volatility of at - the - money put options for corn is 10.71%, up 0.85% [2]. Industry News - As of January 28, the sown area of Argentina's 2025/26 corn season accounted for 97.2% of the total expected area (7.8 million hectares), up from 93.1% a week ago [2]. - A private Brazilian meteorological agency issued a weather warning that the probability of rainfall in southern Brazil, Argentina, and southern Paraguay will be low next week [2]. Key Points to Watch - Pay attention to Mysteel's weekly corn consumption, starch enterprise operating rate, and inventory on Thursday and Friday [3]

数据来源第三方，观点仅供参考。市场有风险，投资需谨慎！ 沪锡产业日报 2026-02-02 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 期货主力合约收盘价:沪锡(日,元/吨) | 392650 | -16350 3月-4月合约收盘价:沪锡(日,元/吨) | 360 | 1360 | | | LME3个月锡(日,美元/吨) | 50600 | -4484 主力合约持仓量:沪锡(日,手) | 38322 | -1757 | | | 期货前20名净持仓:沪锡(日,手) | -5729 | 537 LME锡:总库存(日,吨) | 7095 | 0 | | | 上期所库存:锡(周,吨) | 9720 | 171 LME锡:注销仓单(日,吨) | 265 | 65 | | 现货市场 | 上期所仓单:锡(日,吨) | 8097 | -427 | | | | | SMM1#锡现货价格(日,元/吨) | 392750 | -35900 长江有色市场1#锡现货价(日,元/吨) | 392480 | ...

不锈钢产业日报 2026-02-02 技术面，持仓减量价格回调，多头氛围下降，关注MA60争夺。观点参考：预计不锈钢期价偏弱调整，关注 研究员: 陈思嘉 期货从业资格证F03118799 期货投资咨询从业证书号Z0022803 1.32支撑。 免责声明 本报告中的信息均来源于公开可获得资料，瑞达期货股份有限公司力求准确可靠，但对这些信息的准确性及完整性不做任 何保证，据此投资，责任自负。本报告不构成个人投资建议，客户应考虑本报告中的任何意见或建议是否符合其特定状况。本 报告版权仅为我公司所有，未经书面许可，任何机构和个人不得以任何形式翻版、复制和发布。如引用、刊发，需注明出处为 瑞达期货股份有限公司研究院，且不得对本报告进行有悖原意的引用、删节和修改。 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | | 期货主力合约收盘价:不锈钢(日,元/吨) | 13420 | -720 03-04月合约价差:不锈钢(日,元/吨) | -95 | 20 | | 期货市场 | 期货前20名持仓:净买单量:不锈钢( ...

棉花(纱)产业日报 2026-02-02 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 郑棉主力合约收盘价(日,元/吨) | 14575 | -95 棉纱主力合约收盘价(日,元/吨) | 20405 | -90 | | | 棉花期货前20名净持仓(手) | -117261 | 19409 棉纱期货前20名净持仓(手) | -1402 | 391 | | | 主力合约持仓量:棉花(日,手) | 719506 | -33772 主力合约持仓量:棉纱(日,手) | 4884 | -1005 | | | 仓单数量:棉花(日,张) 中国棉花价格指数:CCIndex:3128B(日,元 | 10325 | 36 仓单数量:棉纱(日,张) | 0 | 0 | | | 中国进口棉价格指数:FCIndexM:1%关税( | 16070 | -113 中国纱线价格指数:纯棉普梳纱32支(日, | 21455 | 25 | | | /吨) | | 元/吨) | | | | 现货市场 | | 12377 ...

本报告中的信息均来源于公开可获得资料，瑞达期货股份有限公司力求准确可靠，但对这些信息的准确性及完整性不做任 何保证，据此投资，责任自负。本报告不构成个人投资建议，客户应考虑本报告中的任何意见或建议是否符合其特定状况。本 报告版权仅为我公司所有，未经书面许可，任何机构和个人不得以任何形式翻版、复制和发布。如引用、刊发，需注明出处为 瑞达期货股份有限公司研究院，且不得对本报告进行有悖原意的引用、删节和修改。 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 郑州尿素主力合约收盘价(日,元/吨) | 1787 | -3 郑州尿素5-9价差(日,元/吨) | 32 | 7 4032 | | | 郑州尿素主力合约持仓量(日,手) | 240285 | -6009 郑州尿素前20名净持仓 | -21160 | | | | 郑州尿素交易所仓单(日,张) | 11256 | -1434 | | | | 现货市场 | 河北(日,元/吨) | 1790 | 0 河南(日,元/吨) | 1770 | 0 | ...

格隆汇2月2日丨永安期货(600927.SH)公布，截至2026年1月31日，公司通过集中竞价交易方式已累计回 购公司普通股2,233,300股，占公司总股本的比例为0.153%，回购的最高价为16.48元/股、最低价为14.59 元/股，已支付的资金总额为34,994,871元（不含交易手续费）。 ...