现货：重碱河北交割库现货报价在170左右，沙河库1210左右 产业：厂库累库。远兴超产 1,000 1,200 1,400 1,600 1,800 2,000 2,200 河北鑫利4.8mm（折5mm） 2022 2023 2024 2025 (600) (400) (200) 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 华北玻璃生产利润（气） 2020 2021 2022 2023 2024 2025 1096 1104 1087 980 953 980 997 1038 900 950 1000 1050 1100 1150 沙河德金 沙河安全 沙河低价 湖北低价 07合约 09合约 11合约 01合约 玻璃价格结构 今日(6/18） 昨日(6/17） 一周前(6/11） 一月前(5/19） (500) 0 500 1,000 1,500 华南玻璃利润（气） 2020 2021 2022 2023 2024 2025 0 500 1,000 1,500 2,000 2,500 3,000 3,500 玻璃：河北低价大板 2019 2020 2021 20 ...

Group 1 - The short drama market is experiencing increased competition with players from multiple countries, including the US, China, and South Korea, entering the global scene [2] - China's foreign trade is showing resilience in a complex environment, with a more diverse network of partnerships, and there are discussions on how to further enhance exports [3] - The pool robot industry is shifting focus from "growth first" to "efficiency first," indicating a potential change in market dynamics as capital enthusiasm wanes [3] Group 2 - The China Securities Regulatory Commission has approved the IPO of JST Group Corporation Limited, allowing the company to issue up to 137,184,600 shares on the Hong Kong Stock Exchange [4] - Guangzhou Shiyuan Electronic Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with joint sponsors being CICC and GF Securities [5] - Zhonglian International Investment (Hainan) Co., Ltd. has completed a 3 million yuan angel round financing to expand its cross-border digital cultural and e-commerce business in Southeast Asia [5] Group 3 - AfterShip has launched an all-in-one e-commerce solution, "AfterShip One," which serves over 20,000 paying e-commerce clients globally [8] - The People's Bank of China is innovating structural monetary policy tools in Shanghai, including pilot programs for cross-border trade financing [10] - Alibaba Cloud has launched multiple AI products in Europe to meet the growing demand for AI applications [7] Group 4 - SoftBank has raised approximately $4.8 billion from the sale of T-Mobile shares to fund its ambitious AI plans, including a potential investment of up to $30 billion in OpenAI [7] - Elon Musk's xAI is in talks to raise $4.3 billion through equity financing [7] - Sequoia China has open-sourced its AI benchmark testing tool, xbench, to support the development of large models and AI agents [7]

1,000 1,200 1,400 1,600 1,800 2,000 2,200 河北鑫利4.8mm（折5mm） 2022 2023 2024 2025 (600) (400) (200) 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 华北玻璃生产利润（气） 2020 2021 2022 2023 2024 2025 1096 1096 1087 980 953 974 993 1032 900 950 1000 1050 1100 1150 沙河德金 沙河安全 沙河低价 湖北低价 07合约 09合约 11合约 01合约 玻璃价格结构 今日(6/17） 昨日(6/16） 一周前(6/10） 一月前(5/19） (500) 0 500 1,000 1,500 华南玻璃利润（气） 2020 2021 2022 2023 2024 2025 0 500 1,000 1,500 2,000 2,500 3,000 3,500 玻璃：河北低价大板 2019 2020 2021 2022 2023 2024 2025 0 100 200 300 400 500 玻璃厂库 ...

1. Report Industry Investment Rating - No information provided 2. Core Viewpoints - No clear core viewpoints presented in the given content 3. Summary by Relevant Catalogs Glass - **Price Change**: From June 9 to June 16, 2025, prices of various 5mm glass products in different regions showed different degrees of change. For example, the price of Shahe Safety 5mm large - board dropped from 1121.0 to 1104.0, a decrease of 17.0; the price of Shahe Great Wall 5mm large - board decreased from 1109.0 to 1091.0, a decrease of 18.0 [1]. - **Contract Price and Spread**: The FG09 contract price decreased from 1006.0 to 980.0, a decrease of 26.0; the FG01 contract price decreased from 1066.0 to 1041.0, a decrease of 25.0. The FG 9 - 1 spread decreased from - 60.0 to - 61.0, a decrease of 1.0 [1]. - **Basis and Profit**: The 09 Hebei basis decreased from 120.0 to 46.0, a decrease of 74.0; the 09 Hubei basis increased from - 16.0 to 10.0, an increase of 26.0. The North China coal - fired profit decreased from 252.0 to 220.7, a decrease of 31.3; the North China coal - fired cost decreased from 874.0 to 866.3, a decrease of 7.7 [1]. - **Spot and Sales**: The price of Shahe traders' glass was around 1090, with average trading volume and insufficient spot and futures sources. The low - price of factories in Hubei was around 980, with good trading volume. The new spot and futures price was 960, with average trading volume. The glass sales volume in Shahe was 103, in Hubei was 105, in East China was 106, and in South China was 103 [1]. Soda Ash - **Price Change**: From June 9 to June 16, 2025, the price of Shahe heavy soda decreased from 1250.0 to 1210.0, a decrease of 40.0; the price of Central China heavy soda decreased from 1210.0 to 1170.0, a decrease of 40.0 [1]. - **Contract Price and Spread**: The SA05 contract price decreased from 1235.0 to 1206.0, a decrease of 29.0; the SA01 contract price decreased from 1193.0 to 1165.0, a decrease of 28.0; the SA09 contract price decreased from 1202.0 to 1174.0, a decrease of 28.0. The SA09 Shahe basis decreased from 48.0 to 36.0, a decrease of 12.0; the SA monthly spread 09 - 01 increased from 9.0 to 9.0 (the daily change was 6.0) [1]. - **Profit and Cost**: The North China ammonia - soda profit increased from - 116.3 to - 111.3, an increase of 5.0; the North China ammonia - soda cost decreased from 1326.3 to 1286.3, a decrease of 40.0; the North China combined - soda profit increased from - 15.8 to 28.7, an increase of 44.5 [1]. - **Spot and Industry Situation**: The spot price of heavy soda in Hebei delivery warehouses was around 1170, and that in Shahe warehouses was around 1210. The factory warehouses were accumulating inventory, and Yuanxing had over - production [1].

Industry Investment Rating - Not provided in the report Core Viewpoints - Not provided in the report Glass Summary Price and Change - On June 13, 2025, the price of 5mm large - plate glass from Shahe Anquan was 1113.0, with a weekly change of - 8.0 and a daily change of 0.0; FG09 contract price was 976.0, with a weekly change of - 21.0 and a daily change of - 5.0 [3] - The price of 5mm large - plate glass from Shahe Great Wall remained at 1096.0 from June 6 - 13, with no weekly or daily change; FG01 contract price was 1035.0 on June 13, with a weekly change of - 19.0 and a daily change of - 5.0 [3] - Shahe 5mm large - plate low - price was 1096.0 on June 13, with a weekly change of - 30.0 and a daily change of - 8.0; FG 9 - 1 spread was - 59.0, with a weekly change of - 2.0 and no daily change [3] - The price of 5mm large - plate glass from Wuhan Changli remained at 1080.0 from June 6 - 13, with no change; 09 Hebei basis was 61.0 on June 13, with a weekly change of - 68.0 and a daily change of - 3.0 [3] - Hubei large - plate low - price remained at 990.0 from June 6 - 13, with no change; 09 Hubei basis was 14.0 on June 13, with a weekly change of 21.0 and a daily change of 5.0 [3] - South China 5mm large - plate low - price was 1400.0 on June 13, with a weekly change of - 20.0 and no daily change [3] - Shandong 5mm large - plate price remained at 1160.0 from June 6 - 13, with no change [3] Profit and Cost - North China coal - fired profit was 232.9 on June 13, with a weekly change of - 17.0 and a daily change of 2.5; North China coal - fired cost was 863.1, with a weekly change of - 13.0 and a daily change of - 10.5 [3] - South China natural gas profit was - 141.7 on June 13, with a weekly change of - 20.0 and no daily change; North China natural gas profit was - 252.9, with a weekly change of - 17.4 and a daily change of 2.5 [3] - 09FG surface natural gas profit was - 372.0 on June 13, with a weekly change of - 9.2 and a daily change of - 1.0; 01FG surface natural gas profit was - 312.4, with a weekly change of - 9.6 and a daily change of - 2.5 [3] Spot and Sales - Glass spot: Shahe traders' price was around 1095, with average trading volume and insufficient spot and futures sources; Hubei factories' low - price was around 980, with fair trading volume; new spot and futures price was 960, with average trading volume [3] - Glass sales: Shahe's sales rate was 94, Hubei's was 103, East China's was 102, and South China's was 94 [3] Soda Ash Summary Price and Change - On June 13, 2025, the price of heavy soda ash in Shahe was 1200.0, with a weekly change of - 50.0 and a daily change of - 30.0; SA05 contract price was 1204.0, with a weekly change of - 38.0 and a daily change of - 8.0 [3] - The price of heavy soda ash in Central China was 1165.0 on June 13, with a weekly change of - 55.0 and a daily change of - 45.0; SA01 contract price was 1153.0, with a weekly change of - 45.0 and a daily change of - 12.0 [3] - The price of heavy soda ash in South China remained at 1510.0 from June 6 - 13, with no change; SA09 contract price was 1156.0 on June 13, with a weekly change of - 56.0 and a daily change of - 19.0 [3] - The price of heavy soda ash in Qinghai remained at 1030.0 from June 6 - 13, with no change; SA09 Shahe basis was 44.0 on June 13, with a weekly change of 6.0 and a daily change of - 11.0 [3] - The price of light soda ash in North China remained at 1200.0 from June 6 - 13, with no change; SA month - spread 09 - 01 was 3.0 on June 13, with a weekly change of - 11.0 and a daily change of - 7.0 [3] - The price of light soda ash in Central China was 1180.0 on June 13, with a weekly change of - 20.0 and no daily change [3] Profit and Cost - North China ammonia - soda profit was - 126.3 on June 13, with a weekly change of - 20.0 and a daily change of - 50.0; North China ammonia - soda cost was 1286.3, with a weekly change of - 40.0 and no daily change [3] - North China combined - soda profit was 7.4 on June 13, with a weekly change of 23.1 and a daily change of - 48.0 [3] Spot and Industry - Spot: The spot price of heavy soda ash at Hebei delivery warehouses was around 1160, and that at Shahe warehouses was around 1200 [3] - Industry: Factory warehouses were accumulating inventory, and Yuanxing had over - produced [3]

1. Report Industry Investment Ratings No information provided in the documents. 2. Core Views of the Reports Natural Rubber - Under the expectation of increasing supply and weakening demand, the subsequent rubber price is expected to remain weak. Adopt a strategy of shorting on rebounds above 14,000. Pay attention to the raw material supply in each producing area and macro - event disturbances [2]. Industrial Silicon - Although the demand for industrial silicon is expected to improve in June, the supply increase is larger, and the inventory is expected to accumulate, putting pressure on the price. However, due to the low absolute price and the enhancement of disk procurement, there may be price rebounds, and the price is expected to fluctuate at a low level. If the polysilicon production increases, it is beneficial for the arbitrage of buying industrial silicon and shorting polysilicon [5]. Polysilicon - In June, there is no obvious improvement in the fundamentals. There is a high probability of a decline in demand, and the supply does not decrease accordingly, so there is a risk of inventory accumulation. Hold short positions cautiously and pay attention to the spread structure and polysilicon production. If the polysilicon production increases, it is beneficial for the arbitrage of buying industrial silicon and shorting polysilicon [6]. Glass and Soda Ash - **Soda Ash**: The supply is gradually recovering, the demand has no obvious growth, and the inventory is under pressure after the maintenance. Continue to hold previous short positions and track the implementation of maintenance [7]. - **Glass**: It still faces over - supply pressure, and the price may continue to be under pressure. Adopt a short - term bearish strategy and wait for more cold - repair implementation to bring a real reversal [7]. 3. Summary by Relevant Catalogs Natural Rubber Spot Prices and Basis - Yunnan Guofu all - latex rubber (SCRWF) in Shanghai rose from 13,750 to 13,850, an increase of 0.73%. The all - latex basis (switched to the 2509 contract) increased by 289.29% [2]. Monthly Spreads - The 9 - 1 spread decreased by 2.38%, the 1 - 5 spread decreased by 25.00%, and the 5 - 9 spread increased by 3.41% [2]. Fundamental Data - In April, Thailand's production decreased by 29.16%, Indonesia's by 7.26%, and India's by 14.34%, while China's increased by 42.30 thousand tons. The weekly开工率 of semi - steel tires increased by 4.12 percentage points, and that of all - steel tires decreased by 2.23 percentage points. Domestic tire production in April decreased by 5.07%, tire exports by 7.87%, and natural rubber imports by 11.93%. In May, the import of natural and synthetic rubber decreased by 12.03% [2]. Inventory Changes - The bonded area inventory decreased by 0.80%, and the natural rubber factory - warehouse futures inventory on the SHFE increased by 23.99% [2]. Industrial Silicon Spot Prices and Basis - The prices of East China oxygen - permeable SI5530, SI4210, and Xinjiang 99 silicon remained unchanged. The basis of relevant varieties decreased, with the largest decline of 29.90% [5]. Monthly Spreads - The spreads of 2506 - 2507, 2507 - 2508, 2509 - 2510, and 2510 - 2511 increased, with the largest increase of 266.67% [5]. Fundamental Data - In April, the national industrial silicon production decreased by 12.10%, Xinjiang's by 20.55%, Yunnan's increased by 9.35%, and Sichuan's increased by 145.65%. The national开工率 decreased by 11.37%, Xinjiang's by 22.18%, Yunnan's by 9.21%, and Sichuan's increased by 1389.80%. In May, the production of silicone DMC increased by 6.48%, polysilicon by 0.73%, and recycled aluminum alloy decreased by 0.66%. The industrial silicon export in April increased by 1.64% [5]. Inventory Changes - Xinjiang's factory - warehouse inventory decreased by 2.15%, Yunnan's increased by 2.79%, Sichuan's increased by 0.44%, the social inventory decreased by 2.56%, the warehouse receipt inventory decreased by 0.51%, and the non - warehouse receipt inventory decreased by 4.59% [5]. Polysilicon Spot Prices and Basis - The average prices of N - type re - feedstock, N - type granular silicon decreased by 1.37% and 1.47% respectively, while the average price of P - type cauliflower material remained unchanged. The basis of relevant materials increased, with the largest increase of 8.65% [6]. Futures Prices and Monthly Spreads - The PS2506 contract decreased by 1.96%. The spreads of PS2506 - PS2507 increased by 22.00%, while others decreased, with the largest decline of 40.85% [6]. Fundamental Data - Weekly silicon wafer production increased by 0.46%, and polysilicon production increased by 8.18%. In May, polysilicon production increased by 0.73%. In April, polysilicon imports decreased by 7.10%, exports decreased by 10.40%, silicon wafer imports decreased by 32.03%, exports increased by 28.29%, and the net export of silicon wafers increased by 42.57%. In May, the silicon wafer demand decreased by 8.10% [6]. Inventory Changes - Polysilicon inventory increased by 2.23%, and silicon wafer inventory decreased by 3.40%. The polysilicon warehouse receipts remained unchanged [6]. Glass and Soda Ash Glass - Related Prices and Spreads - The spot prices in North China, East China, Central China, and South China remained unchanged. The glass 2505 contract decreased by 1.37%, and the 2509 contract decreased by 1.70%. The 05 basis increased by 27.78% [7]. Soda Ash - Related Prices and Spreads - The spot prices in North China, East China, Central China, and Northwest China remained unchanged. The soda ash 2505 contract decreased by 1.06%, and the 2509 contract decreased by 2.20%. The 05 basis increased by 7.43% [7]. Supply - The soda ash operating rate increased by 8.06%, the weekly soda ash production increased by 8.04%, the float glass daily melting volume decreased by 0.70%, the photovoltaic daily melting volume decreased by 1.00%, and the 3.2mm coating mainstream price decreased by 4.76% [7]. Inventory - The glass factory - warehouse inventory increased by 2.84%, the soda ash factory - warehouse inventory increased by 3.82%, the soda ash delivery warehouse inventory decreased by 5.87%, and the glass factory's soda ash inventory days increased by 15.91% [7]. Real Estate Data Year - on - Year - The new construction area increased by 2.99%, the construction area decreased by 7.56%, the completion area increased by 15.67%, and the sales area increased by 12.13% [7].

| 玻璃纯碱早报 | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | | | 研究中心能化团队 | | 2025/6/13 | | | 玻 璃 | | | | | | | | | | | | | 2025/6/12 周度变化 日度变化 | 2025/6/5 | 2025/6/11 | | | | | 2025/6/5 | 2025/6/11 | | 2025/6/12 周度变化 日度变化 | | | 沙河安全 5mm大 板 | 1121.0 | 1113.0 | 1113.0 | -8.0 | 0.0 | FG09合约 | 963.0 | 998.0 | 981.0 | 18.0 | -17.0 | | 沙河长城 5mm大板 | 1096.0 | 1100.0 | 1096.0 | 0.0 | -4.0 | FG01合约 | 1018.0 | 1056.0 | 1040.0 | 22.0 | -16.0 | | 沙河5mm大 板低价 | 1 ...

现货：重碱河北交割库现货报价在1210左右，沙河库1230左右 产业：厂库累库。远兴超产 1,000 1,200 1,400 1,600 1,800 2,000 2,200 河北鑫利4.8mm（折5mm） 2022 2023 2024 2025 (600) (400) (200) 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 华北玻璃生产利润（气） 2020 2021 2022 2023 2024 2025 1104 1113 1104 990 969 998 1015 1056 900 950 1000 1050 1100 1150 1200 1250 沙河德金 沙河安全 沙河低价 湖北低价 07合约 09合约 11合约 01合约 玻璃价格结构 今日(6/11） 昨日(6/10） 一周前(6/4） 一月前(5/12） (500) 0 500 1,000 1,500 华南玻璃利润（气） 2020 2021 2022 2023 2024 2025 0 500 1,000 1,500 2,000 2,500 3,000 3,500 玻璃：河北低价大板 2019 2 ...

然橡胶产业期现目报 投资咨询业务资格:证监许可【2011】1292号 2025年6月12日 Z0021810 寇帝斯 | 现货价格及基差 | | | | | | | --- | --- | --- | --- | --- | --- | | 品种 | 6月11日 | 6月10日 | 涨跌 | 涨跌幅 | 单位 | | 云南国营全乳胶(SCRWF):上海 | 13750 | 13850 | -100 | -0.72% | | | 全乳基差(切换至2509合约) | -140 | વર્ત | -185 | -411.11% | 元/吨 | | 泰标混合胶报价 | 13850 | 13750 | 100 | 0.73% | | | 非标价差 | -40 | -રેર | 15 | 27.27% | | | 杯胶：国际市场:FOB中间价 | 46.65 | 46.20 | 0.45 | 0.97% | 泰铢/公斤 | | 胶水： 国际市场: FOB中间价 | 56.50 | 56.25 | 0.25 | 0.44% | | | 天然橡胶:胶块:西双版纳州 | 12200 | 12200 | 0 | 0.00% | ...

| | | | | | 玻璃纯碱早报 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | | | 研究中心能化团队 | | 2025/6/11 | | | | | | | | 玻 璃 | | | | | | | | 2025/6/3 | | 2025/6/9 | | 2025/6/10 周度变化 日度变化 | | | 2025/6/3 | 2025/6/9 | | 2025/6/10 周度变化 日度变化 | | | 沙河安全 5mm大 板 | 1121.0 | 1121.0 | 1113.0 | -8.0 | -8.0 | FG09合约 | 954.0 | 1006.0 | 995.0 | 41.0 | -11.0 | | 沙河长城 5mm大板 | 1096.0 | 1109.0 | 1100.0 | 4.0 | -9.0 | FG01合约 | 1014.0 | 1066.0 | 1054.0 | 40.0 | -12.0 | | 沙河5mm大 板低价 | 1 ...