一、2025年12月31日（星期三）晚上不进行夜盘交易。 新华财经北京12月26日电上期所发布关于2026年元旦期间有关工作安排的通知。根据《上海期货交易所 关于2026年休市安排的公告》（上期所公告〔2025〕157号），现对元旦期间有关工作安排如下： 2026年1月1日（星期四）至2026年1月4日（星期日）休市。 三、2026年1月5日（星期一）交易后，自第一个未出现单边市的交易日收盘结算时，涨跌停板幅度和交 易保证金比例调整如下： 黄金期货AU2601、AU2602、AU2603、AU2604合约，白银期货AG2601、AG2602、AG2603、AG2604 合约维持涨跌停板幅度和交易保证金比例不变； 其他期货合约的涨跌停板幅度和交易保证金比例恢复至原有水平。 关于涨跌停板幅度和交易保证金比例的其他事项按《上海期货交易所风险控制管理办法》执行。 请各有关单位做好风险防范工作，确保市场平稳和交割顺畅。 2026年1月5日（星期一）08:55-09:00所有期货、期权合约进行集合竞价，当晚恢复夜盘交易。 二、自2025年12月30日（星期二）收盘结算时起，交易保证金比例和涨跌停板幅度调整如下： 黄金、白 ...

Report Industry Investment Ratings - Thread Steel: ☆☆☆, indicating a short - term multi/empty trend in a relatively balanced state with poor operability on the current market [1] - Hot - Rolled Coil: ☆☆☆, suggesting a short - term multi/empty trend in a relatively balanced state with poor operability on the current market [1] - Iron Ore: ☆☆☆, meaning a short - term multi/empty trend in a relatively balanced state with poor operability on the current market [1] - Coke: ☆☆☆, showing a short - term multi/empty trend in a relatively balanced state with poor operability on the current market [1] - Coking Coal: ☆☆☆, indicating a short - term multi/empty trend in a relatively balanced state with poor operability on the current market [1] - Ferrosilicon: ★★☆, representing a clear upward trend and the market is fermenting [1] - Silicomanganese: The rating is not clearly given in the provided content Core Views - The steel market has weak market sentiment, but there is cost support below, and the overall market continues the range - bound pattern. The iron ore market is expected to be range - bound in the short term. The coke and coking coal markets are likely to be in a range - bound state after the price corrects the discount. The silicomanganese and ferrosilicon markets are recommended to try long positions at low prices [1][2][3][5][6][7] Summary by Related Catalogs Steel - The steel futures market declined and then rebounded today. The apparent demand for thread steel decreased this week, while production increased slightly and inventory continued to decline. The demand for hot - rolled coil recovered, production increased slightly, and the de - stocking accelerated, but the pressure still needs to be relieved. The supply pressure is gradually easing, and the steel mill profits are marginally improving. The decline in blast furnace production has slowed down, and molten iron has stabilized. The overall domestic demand in the downstream industry is still weak, and steel exports remain high. The market sentiment is still weak, and the market continues the range - bound pattern [1] Iron Ore - The iron ore futures market was strongly range - bound today. The global shipment is strong, and it is expected to remain at a high level. The domestic arrival volume is also strong, and the port inventory has continued to increase significantly. The terminal demand in the off - season is at a low level, but molten iron has stabilized at a low level this week. The steel mill inventory is at a low level, and there is a certain restocking expectation. The fundamentals of iron ore are relatively loose, and the short - term market trend is expected to be range - bound [2] Coke - The coke price was range - bound during the day. There is still an expectation of a fourth round of price cuts, which is expected to be implemented after New Year's Day. The coking profit is average, and the daily production has slightly decreased. The coke inventory has slightly increased. The overall carbon element supply is abundant, and the downstream demand for raw materials still has resilience, but the steel mills still have a strong sentiment of pressing prices. The coke futures price is at a premium, and after the price corrects the discount, it still faces certain fundamental pressure. The price is likely to be range - bound [3] Coking Coal - The coking coal price was mainly range - bound during the day. The production of coking coal mines has slightly decreased. The overall carbon element supply is abundant, and the downstream demand for raw materials still has resilience, but the steel mills still have a strong sentiment of pressing prices. The coking coal futures price is at a discount, and after the price corrects the discount, it still faces certain fundamental pressure. The price is likely to be range - bound [5] Silicomanganese - The silicomanganese price was strongly range - bound during the day. Driven by the rebound of the futures market, the spot price of manganese ore has increased. There is a structural problem with the manganese ore port inventory. The demand for iron and steel has decreased seasonally. The weekly production and inventory of silicomanganese have slightly decreased. It is recommended to try long positions at low prices [6] Ferrosilicon - The ferrosilicon price was strongly range - bound during the day. There is an increasing expectation of coal mine supply guarantee, and there is an expectation of a decline in power costs and semi - coke prices. The demand for iron and steel has rebounded to a high - level range. The export demand has decreased, but the overall demand still has resilience. The ferrosilicon supply has decreased significantly, and the inventory has slightly decreased. It is recommended to try long positions at low prices [7]

投资咨询号:Z0000116 国贸期货研究院 2025/12/26 金融衍生品中心 李泽钜 从业资格号:F0251925 数据来源: Wind,国贸期货研究院 行情回顾 指数 收盘价 涨跌幅(%) 成交额(亿元) 成交量(亿) 820. 76 上证50 28. 27 3032. 8414 0. 25 3853. 56 沪深300 4642. 5357 0. 18 139. 43 7579. 3791 0. 97 228. 74 中证1000 4344. 19 中金所股指期权成交情况 期权成交量 认购期权 认洁期权 日成交量 期权持企量 认购期权 认洁期权 持仓量 指数 持仓量 (万张) (万张) 持仓量 成交量 成交量 PCR PCR 上证50 1. 17 0. 70 0. 60 2. 95 0. 66 1. 88 1. 95 4. 90 5. 58 沪深300 8. 39 2. 81 0. 50 16. 26 6. 64 0. 69 9. 62 中证1000 23. 96 14. 33 0. 67 26. 04 9. 63 13. 09 12. 95 0. 99 中证1000PCR走势 沪深300PCR走势 ...

期货日报网讯（记者 杨美）据中期协12月26日消息，为落实《关于加强监管防范风险促进期货市场高 质量发展的意见》《期货公司监督管理办法》要求，规范期货公司外部信息系统接入管理，保护交易者 合法权益，在中国证监会指导下，中国期货业协会立足行业自律管理职责，制定了《期货公司接入外部 信息系统管理规则（征求意见稿）》（以下简称《管理规则》），现面向社会公开征求意见。 三是自律管理。明确协会可以组织实施自律检查，并对违反《管理规则》的期货公司及从业人员实施自 律措施，督促期货公司全面落实外部系统接入管理要求。此外，《管理规则》还以附件形式提供了客户 接入承诺书必备条款和风险提示书必备内容。 据了解，去年以来，中期协多次调研期货公司外部系统现状，本次制定的《管理规则》，旨在压实期货 公司管理责任，指导期货公司建立健全外部系统接入管理制度机制，规范外部系统接入全过程管理，在 保障合理的交易管理需求的同时，防范业务合规问题和技术安全风险，促进期货行业高质量发展。 《管理规则》共24条，主要包括三方面内容： 一是管理范围及原则。具体包括：明确期货公司接入外部系统适用本规则，同时明确外部系统与外接客 户定义。明确期货公司接入外 ...

据中国期货业协会12月26日消息，为落实《关于加强监管防范风险促进期货市场高质量发展的意见》《期货公司 监督管理办法》要求，规范期货公司外部信息系统（以下简称外部系统）接入管理，保护交易者合法权益，中国 期货业协会起草了《期货公司接入外部信息系统管理规则（征求意见稿）》（以下简称《管理规则》），面向社 会公开征求意见，意见反馈截止时间为2026年1月12日。 据期货日报记者了解，随着期货市场快速发展和信息科技广泛应用，交易者越来越多地使用专业化、个性化交易 软件接入期货公司开展期货交易。一方面，外部系统的应用帮助交易者实现了交易策略定制、全面风险管控、跨 市场产品配置等功能，提高了市场效率；另一方面，因管理链条长、信息不对称、责任边界不清等，增加了交 易、业务合规风险和信息技术安全隐患。 《关于加强监管防范风险促进期货市场高质量发展的意见》明确要求，加强期货公司信息技术监管，督促期货公 司严格交易信息系统外部接入管理，保障信息技术安全。《期货公司监督管理办法》也对期货公司建立健全外部 系统接入管理机制，保证接入系统的合规性和安全性等作出明确规定。 去年以来，中国期货业协会多次调研期货公司外部系统现状，在中国证 ...

（来源：财闻） 2026年1月5日（星期一）08:55-09:00所有期货、期权合约进行集合竞价，当晚恢复夜盘交易。 二、自2025年12月30日（星期二）收盘结算时起，交易保证金比例和涨跌停板幅度调整如下： 黄金、白银期货合约的涨跌停板幅度调整为15%，套保持仓交易保证金比例调整为16%，一般持仓交易 保证金比例调整为17%； 黄金、白银期货合约的涨跌停板幅度调整为15%，套保持仓交易保证金比例调整为16%，一般持仓交易 保证金比例调整为17%。 12月26日，上期所发布关于2026年元旦期间有关工作安排的通知。 根据《上海期货交易所关于2026年休市安排的公告》（上期所公告〔2025〕157号），对元旦期间有关 工作安排如下： 一、2025年12月31日（星期三）晚上不进行夜盘交易。 2026年1月1日（星期四）至2026年1月4日（星期日）休市。 黄金期货AU2601、AU2602、AU2603、AU2604合约，白银期货AG2601、AG2602、AG2603、AG2604 合约维持涨跌停板幅度和交易保证金比例不变； 其他期货合约的涨跌停板幅度和交易保证金比例恢复至原有水平。 关于涨跌停板幅度和交易保 ...

Group 1 - The core point of the announcement is that "Ruida Convertible Bonds" will be forcibly redeemed if not converted by the market close on January 16, 2026, and will subsequently be delisted from the Shenzhen Stock Exchange [2] - Holders of "Ruida Convertible Bonds" are advised to lift any pledges or freezes on their bonds before the trading suspension date to avoid being forced to redeem due to inability to convert [2]

Core Viewpoint - The Shanghai Futures Exchange has issued a notice regarding market risk control, highlighting the recent volatility in non-ferrous and precious metals due to complex international circumstances [1] Group 1 - The notice emphasizes the need for relevant entities to take appropriate measures in response to market fluctuations [1] - Investors are advised to enhance risk prevention awareness and engage in rational investment practices [1] - The goal is to collectively maintain a stable market operation amidst the current volatility [1]

| W | | 伦敦银现 | | | | | | --- | --- | --- | --- | --- | --- | --- | | | | SPTAGUSDOZ.IDC | | | | | | 73.649 | | 昨结 总量 | 71.810 | | | 0 | | +1.839 | +2.56% 开盘 | 现手 | 71.810 | | | 0 | | 最高价 73.788 | | 持 එ 外 | 0 | 香 | | 0 | | 最低价 71.629 | | 월 色 内 | 0 | | | 0 | | 分时 五日 | | EK 月K | EK | | 用名 | | | 一加 | | 均价:0.000 | | | | | | 73.788 | | 2.75% | | | 73.692 | | | | | | | | 73.649 | | | | | | | 8:21 | 73.652 | O | | | | | | | 8:21 73.639 | O | | 11.810 | | 0.00% | | | 8:21 73.645 | 0 | | | | | | | 8:21 73.640 | 0 | | ...

Group 1 - The Shanghai Futures Exchange has issued a notice regarding market risk control measures due to the recent volatility in non-ferrous and precious metals amid complex international conditions [1] - The exchange urges relevant entities to take appropriate actions to remind investors to practice risk prevention and rational investment [1] - The goal is to collectively maintain the stable operation of the market [1]