1. Report Industry Investment Rating - No relevant content provided 2. Core View of the Report - The shipping market, especially the European route, is being closely monitored with details on EC futures contracts, spot prices, and shipping rates. The increasing weekly average shipping capacity from July to August is expected to put significant downward pressure on subsequent freight rates [2] 3. Summary by Related Catalogs EC Futures Contracts - The closing prices of various EC futures contracts on July 7, 2025, showed declines, with EC2508 at 1849.9 (down 2.48%), EC2510 at 1341.9 (down 1.61%), etc [2] - The volume and open interest of different contracts also varied, with EC2508 having a volume of 47769 and an open interest of 36378 (up 431) [2] - The month - spreads between different contracts, such as EC2508 - 2510 at 508.0, showed changes compared to previous days [2] Spot and Index Data - The spot price on June 30, 2025, was 2123.24, with a 9.61% increase from the previous period [2] - SCFI (European route) on July 4, 2025, was 2101 dollars/TEU, up 3.50% from the previous period [2] - CCFI (European route) on July 4, 2025, was 1694.3, up 3.27% from the previous period [2] Shipping Capacity and Rates - The weekly average shipping capacity in July and August 2025 is 295,000 and 313,000 TEU respectively. The shipping capacity in the third week of July is 320,000 TEU, and the first week of August is 340,000 TEU [2] - The freight rates in the first half of July landed at around 3380 US dollars (equivalent to 2350 points). The shipping company quotes in the second half of July are generally stable, with an average of 3500 US dollars (equivalent to 2500 points) [3] Related News - On July 7, indirect cease - fire negotiations in Gaza restarted in Doha, Qatar. Trump will meet with Netanyahu on Monday to discuss details of the Gaza cease - fire agreement [4]

Report Overview - Report Title: "Daily Report on Container Shipping Index" [1] - Report Date: July 4, 2025 [2] - Research Team: Macro Financial Team [4] - Researchers: He Zhuoqiao, Huang Wenxin, Nie Jiayi [3] 1. Report Industry Investment Rating - Not provided in the report 2. Core Viewpoints - The price increase at the end of June was better than expected, and the SCFIS settlement index rebounded above 2000 points. The 08 contract has some upside potential, while attention should be paid to short - selling opportunities in October and positive spread arbitrage opportunities between 08 - 10 contracts [8] 3. Summary by Sections 3.1 Market Review and Operation Suggestions - **Spot Market**: The price increase at the end of June was better than expected, with the SCFIS settlement index rising above 2000 points. Maersk's mid - July quote was $2958, and the next week's quote was $2900. Other shipping companies' quotes were mostly in the range of $3300 - $3600, with a median of about $3400. CMA CGM and HPL reported August freight rates of $4745 and $3535 respectively [8] - **Futures Market**: The 08 contract had broken below 1800 points, showing extremely pessimistic market expectations, which are now being repaired. With good cargo volume and port congestion in Europe, the peak - season price increase is expected to materialize, and the 08 contract has some upside potential. October is a traditional off - season, so attention should be paid to short - selling opportunities and 08 - 10 positive spread arbitrage opportunities [8] 3.2 Industry News - **Geopolitical News**: Iran launched a missile strike on the US military's Al - Udeid Air Base in Qatar. International oil prices dropped by about 9%, and the US stock market rose [9] - **Shipping Market News**: From June 23 - 27, the overall Chinese export container shipping market was stable, with the comprehensive index slightly declining. European routes' spot freight rates rose, while Mediterranean routes' rates fell slightly, and North American routes' rates continued to decline [9][10] 3.3 Data Overview - **Container Shipping Spot Prices**: The SCFIS European route index increased by 9.6% to 2123.24 points, while the SCFIS US West route index decreased by 22.3% to 1619.19 points [15] - **Container Shipping Index (European Route) Futures Quotes**: Details of trading data for contracts such as EC2508, EC2510, etc., including opening price, closing price, settlement price, change, and trading volume, are provided [6] - **Shipping - Related Data Charts**: Charts include Shanghai Export Container Settlement Freight Index, container shipping index (European route) futures trends, global container shipping capacity, and global container ship order backlog [15][18][22]

Group 1: Energy - Brent 09 contract rose 2.78%. Geopolitical risks in the Middle East around the Iran nuclear issue have heated up again, and the trade war risk has weakened. The theme of loose supply and demand in the crude oil market continues, and the supply - demand guidance is still negative [1] - Night - time oil prices rose 3% due to positive news of US - Vietnam tariffs. High - sulfur fuel oil (FU) is in a weak oscillation, while low - sulfur fuel oil (LU) is boosted in the short term [21] - Night - time oil prices rose 3%, and asphalt is expected to follow the upward trend. Supply and demand are expected to increase, and the de - stocking trend is expected to continue [22] - The 7 - month CP of liquefied petroleum gas was significantly lowered, and the market is in a weak oscillation [23] Group 2: Metals - Overnight, the international copper price led the rise at a high level. The market is trading the probability of a July interest rate cut. Short - term Shanghai copper's upward trend tests 81,000, and long - term high - level short - allocation is recommended [3] - Overnight, Shanghai aluminum oscillated at a high level. The social inventory of aluminum ingots increased slightly, and there is a risk of a phased correction [4] - Cast aluminum alloy follows the fluctuation of Shanghai aluminum. If the spread between the far - month contracts on the disk expands, consider a long - ADC12 and short - AL strategy [5] - The spot price of alumina is around 3,100 yuan, and the upward space is limited [6] - Overnight, the precious metals oscillated strongly. The market's expectation of an interest rate cut has increased, and attention is focused on the non - farm payrolls data [2] - Zinc has strong support at 22,000 yuan/ton in the short term, and a short - allocation strategy is recommended in the medium and long term [7] - Shanghai lead is consolidating above 17,000. The supply - demand contradiction is not prominent, and attention is paid to whether it can stand firm at 17,000 [8] - Shanghai nickel is oscillating at a high level in the rebound. Technically, it is at the end of the rebound, waiting for a short - selling opportunity [9] - Tin prices oscillated overnight. It is advisable to short - allocate the far - month contracts [10] Group 3: Building Materials and Chemicals - Multi - silicon futures' main contract rose to the daily limit. The short - term upward space depends on the implementation of supply - side regulation policies [12] - Industrial silicon futures prices rose strongly. Due to the interweaving of long and short themes, the market is expected to oscillate [13] - Night - time steel prices oscillated. Supply and demand in the steel market are both increasing, and the short - term is expected to remain strong [14] - Iron ore prices rose overnight. Supply is expected to decline, and the short - term trend is expected to follow the finished products and oscillate strongly [15] - Coke prices rose. There is an expectation of a price increase, and the price is expected to oscillate strongly [16] - Coking coal prices rose. Policy may reduce production, and the price is expected to oscillate strongly [17] - Manganese silicon prices rose. The inventory has decreased, but the upward pressure above 6,750 is large [18] - Silicon iron prices rose. Demand is okay, and the price is expected to oscillate strongly [19] - Polyvinyl chloride (PVC) is following the cost fluctuations in the short term and may oscillate at a low level in the long term. Caustic soda is strong in the short term but under pressure in the long term [28] - PX and PTA prices are in a weak oscillation. The supply - demand pattern may gradually become looser [29] - Ethylene glycol is continuing a small - scale rebound and is expected to oscillate at the bottom [30] Group 4: Agricultural Products - The USDA reports on soybeans are neutral. Domestic soybean meal is in a weak oscillation [35] - Soybean oil and palm oil prices rose. A long - allocation strategy on dips is recommended in the long term [36] - Canadian rapeseed prices rose. Domestic rapeseed products are expected to oscillate in the short term [37] - The price of domestic soybeans rebounded from a low level. Weather and policies need to be focused on in the short term [38] - Corn futures are in an oscillating trend. The supply rhythm affects the market [39] - Hog futures rose significantly. The rebound space is limited in the medium term, and policy support is expected in the long term [40] - Egg futures fell. Short - selling on rallies is recommended [41] - U.S. cotton prices rose. Domestic cotton inventory is expected to be tight, and buying on dips is recommended [42] - U.S. sugar is in a downward trend, and domestic sugar is expected to oscillate [43] - Apple futures are oscillating, and a short - selling strategy is recommended [44] - Wood futures are oscillating. Supply has some positive factors, but the price is still weak [45] - Pulp futures rose slightly. The inventory is still high year - on - year, and it is expected to oscillate at a low level [46] Group 5: Others - The freight rate of the container shipping index (European line) is expected to be stable in July. The progress of the Gaza negotiations may affect the far - month contracts [20] - Urea market supply and demand have improved marginally, and the short - term market is in a strong oscillation [24] - Methanol futures are expected to fluctuate narrowly in the short term [25] - Styrene prices are in a weak trend. Supply and demand support is insufficient [26] - Polypropylene and polyethylene are in a weak fundamental situation [27] - Glass futures rose significantly, but it is recommended to wait and see due to high inventory and weak demand [32] - Natural rubber supply is increasing, and inventories are rising. A rebound from an oversold position is possible [33] - Soda ash is strong in the short term, but the upward space is limited due to expected demand reduction [34] Group 6: Financial Markets - A - share market is in a weak oscillation. In the style configuration, technology and growth should be increased on the basis of dividend assets [47] - Treasury bond futures closed up across the board. Be aware of the risk of increased volatility in the short term [48]

Report Overview - Report Title: "集运指数日报" [1] - Date: July 3, 2025 [2] - Research Team: Macro Financial Team [4] - Researchers: He Zhuoqiao, Huang Wenxin, Nie Jiayi [3] 1. Report Industry Investment Rating - No information provided 2. Core Viewpoints - The spot price increase at the end of June was better than expected, and the SCFIS settlement index rebounded above 2000 points. The 08 contract is expected to have some upside potential, while the 10th month, a traditional off - season, presents opportunities for short - selling and 08 - 10 positive spreads [8]. 3. Summary by Directory 3.1 Market Review and Operation Suggestions - Spot Market: At the end of June, the price increase was better than expected, with the SCFIS settlement index rising above 2000 points. In July, Maersk's mid - July quote was $2958, and the next week's quote was $2900. Other shipping companies' quotes were mostly in the range of $3300 - $3600, with a median of about $3400. CMA CGM and HPL reported August freight rates of $4745 and $3535 respectively [8]. - Futures Market: The 08 contract is expected to have upside potential due to improved market expectations, good cargo volume, and port congestion in Europe. For the 10th month, which is a traditional off - season, focus on short - selling opportunities and 08 - 10 positive spreads [8]. 3.2 Industry News - Geopolitical Event: Iran launched a missile attack on the US military's Al - Udeid Air Base in Qatar. International oil prices dropped by about 9%, and the US stock market rose [9]. - Shipping Market: From June 23 - 27, the overall Chinese export container shipping market was stable, with the comprehensive index slightly declining. The European route showed weak demand, while the Mediterranean route's freight rate decreased slightly, and the North American route's freight rate continued to fall [9][10]. 3.3 Data Overview - Spot Freight Rates: The SCFIS European route index increased by 9.6% to 2123.24 points, while the SCFIS US West route index decreased by 22.3% to 1619.19 points [15]. - Futures Market Data: For EC2508, the closing price was 1883.5, up 30.9 (1.67%); for EC2510, the closing price was 1367.9, down 0.9 (- 0.07%); for EC2512, the closing price was 1528.0, up 1.5 (0.10%); for EC2602, the closing price was 1325.2, down 6.0 (- 0.45%); for EC2604, the closing price was 1174.2, down 1.3 (- 0.11%); for EC2606, the closing price was 1310.0, down 3.6 (- 0.27%) [6].

Report Information - Report Title: "集运指数日报" [1] - Date: July 2, 2025 [2] - Research Team: Macro Finance Team [4] - Researchers: He Zhuoqiao, Huang Wenxin, Nie Jiayi [3] 1. Report Industry Investment Rating - Not provided in the given content 2. Report's Core View - The spot price increase at the end of June was better than expected, with the SCFIS settlement index rising above 2000 points. In July, Maersk quoted $2958 in mid - July, and most other shipping companies' quotes were concentrated in the range of $3300 - $3600, with a median of around $3400. However, the futures market has a weak expectation of price increases. The 08 contract has fallen below 1800 points and is lower than the 06 contract, implying that the market may skip the peak - season price increase and expect the freight rate to drop to a low level after the August peak. Considering the strong resilience of European export demand, stable shipping capacity supply, and the stabilization of quotes and container volumes, the peak - season price increase is difficult to be falsified in the short term and may be supported by fundamentals. Currently, the 08 contract may be undervalued, and attention should be paid to short - selling opportunities in October (a traditional off - season) and positive spread arbitrage opportunities between 08 - 10 contracts [8] 3. Summary According to Relevant Catalogs 3.1行情回顾与操作建议 - Spot market: The price increase at the end of June was better than expected, with the SCFIS settlement index rising above 2000 points. In July, Maersk's mid - month quote was $2958, and most other shipping companies' quotes were in the $3300 - $3600 range, with a median of about $3400. - Futures market: The market has a weak expectation of price increases. The 08 contract has fallen below 1800 points and is lower than the 06 contract. - Investment suggestions: Due to strong European export demand, stable shipping capacity supply, and the stabilization of quotes and container volumes, the peak - season price increase is difficult to be falsified in the short term and may be supported by fundamentals. The 08 contract may be undervalued, and attention should be paid to short - selling opportunities in October (a traditional off - season) and positive spread arbitrage opportunities between 08 - 10 contracts [8] 3.2行业要闻 - International news: Iran launched a missile strike on the US military's Al - Udeid Air Base in Qatar. International oil prices dropped by about 9%, and the US stock market rose. Trump thanked Iran for the advance notice and called for peace. There was no sign of Iran blocking the Strait of Hormuz. - Shipping market news: From June 23 to 27, the overall Chinese export container shipping market was stable, with the comprehensive index slightly declining. European routes saw an increase in spot market booking prices due to good transportation demand; Mediterranean routes had weak fundamentals and slightly falling freight rates; North American routes had stable transportation demand but continued to see falling freight rates. - Geopolitical news: Trump claimed that Iran's key nuclear facilities were "completely destroyed," but Iran said the Fordo nuclear facility was not severely damaged. Iran's parliament considered closing the Strait of Hormuz. China strongly condemned the US attack on Iran's nuclear facilities [9][10] 3.3数据概览 3.3.1集运现货价格 - SCFIS European route (basic ports): On June 30, 2025, it was 2123.24 points, up 186.1 points (9.6%) from June 23. - SCFIS US West route (basic ports): On June 30, 2025, it was 1619.19 points, down 464.27 points (-22.3%) from June 23 [12] 3.3.2集运指数（欧线）期货行情 - Provided the trading data of EC2508, EC2510, EC2512, EC2602, EC2604, and EC2606 contracts on July 1, including previous settlement price, opening price, closing price, settlement price, change, change percentage, trading volume, open interest, and change in open interest [6] 3.3.3航运相关数据走势图 - Included charts of global container shipping capacity, global container ship orders on hand, Shanghai - European basic port freight rates, and Shanghai - Rotterdam spot freight rates [17][20]

Group 1: Report Industry Investment Ratings No relevant content found Group 2: Core Views of the Report - Fed Chair Powell indicated that stable economic activity allows the Fed to study the impact of tariff hikes on prices and economic growth before resuming rate cuts. If not for concerns about tariffs, the Fed might have continued to gradually cut rates this year. A well - known journalist believes that if the final tariff increase is lower than Trump's April announcement, the Fed's rate - cut strategy may change [8] - For caustic soda, the spot price decline is not over, but the impact of liquid chlorine should be noted. Although the supply pressure is large, due to the rapid decline in liquid chlorine prices, the cost of caustic soda has increased, and the far - month valuation may be repaired, but the continuous rebound space may be limited [10][12] - For the Container Freight Index (European Line), the price - cut inflection point is postponed. The 08 contract will fluctuate and consolidate, and it is advisable to short the 10 contract at high prices [13][19] Group 3: Summaries According to Related Catalogs Gold and Silver - Gold: The expectation of interest - rate cuts is rising, and silver continues to rise. The prices of gold and silver in various markets showed different changes in the previous trading day, including price increases, changes in trading volume, positions, inventories, and spreads [20][21] - Trend intensity: Gold trend intensity is - 1, and silver trend intensity is 1 [24] Copper - Copper: The strong spot price supports the price. The prices, trading volumes, positions, inventories, and spreads of copper futures and spot markets changed in the previous trading day. Macro and industry news include the US manufacturing PMI situation, trade agreement impacts, and China's copper import data [26] - Trend intensity: Copper trend intensity is 1 [28] Zinc - Zinc: The fundamentals are under pressure. The prices, trading volumes, positions, and other data of zinc in the futures and spot markets changed in the previous trading day. There is news about the expansion project of a lead - zinc mine [29][30] - Trend intensity: Zinc trend intensity is - 1 [30] Lead - Lead: There is an expectation of a peak season, which supports the price. The relevant data of lead in the futures and spot markets changed in the previous trading day, and there is news about the expansion project of a lead - zinc mine [32][33] - Trend intensity: Lead trend intensity is 1 [33] Tin - Tin: Driven by the macro - environment, the price goes up. The prices, trading volumes, positions, and inventories of tin in the futures and spot markets changed in the previous trading day, and there are some macro and industry news [35][36] - Trend intensity: Tin trend intensity is 0 [37] Nickel and Stainless Steel - Nickel: The support from the ore end has loosened, and the smelting end limits the upward elasticity. Stainless steel: The inventory has slightly decreased, and the steel price is repaired but with limited elasticity. The relevant data of nickel and stainless steel in the industrial chain changed in the previous trading day, and there are news about nickel - related production and shutdown in Indonesia [39][40] - Trend intensity: Nickel trend intensity is 0, and stainless steel trend intensity is 0 [42] Lithium Carbonate - Lithium carbonate: The spot trading is light, and it runs weakly with fluctuations. The prices, trading volumes, positions, and other data of lithium carbonate in the futures and spot markets changed in the previous trading day, and there are news about lithium - related agreements [43][45] - Trend intensity: Lithium carbonate trend intensity is - 1 [45] Industrial Silicon and Polysilicon - Industrial silicon: The upstream supply disturbances increase, and the market sentiment should be noted. Polysilicon: The market news continues to cause disturbances, and the upward space should be noted. The relevant data of industrial silicon and polysilicon in the futures and spot markets changed in the previous trading day, and there is news about the photovoltaic glass industry [46][48] - Trend intensity: Industrial silicon trend intensity is 1, and polysilicon trend intensity is 1 [48] Iron Ore - Iron ore: The expectations fluctuate, and it fluctuates widely. The prices, trading volumes, positions, and other data of iron ore in the futures and spot markets changed in the previous trading day, and there is news about industrial enterprise profits [49] - Trend intensity: Iron ore trend intensity is 0 [49] Rebar and Hot - Rolled Coil - Rebar and hot - rolled coil: Both fluctuate widely. The prices, trading volumes, positions, and other data of rebar and hot - rolled coil in the futures and spot markets changed in the previous trading day, and there are news about economic indicators and steel production and inventory [51][52][53] - Trend intensity: Rebar trend intensity is 0, and hot - rolled coil trend intensity is 0 [54] Ferrosilicon and Silicomanganese - Ferrosilicon and silicomanganese: Affected by the sector sentiment, they fluctuate weakly. The prices, trading volumes, positions, and other data of ferrosilicon and silicomanganese in the futures and spot markets changed in the previous trading day, and there are news about ferrosilicon and silicomanganese prices [55][56] - Trend intensity: Ferrosilicon trend intensity is 0, and silicomanganese trend intensity is 0 [57] Coke and Coking Coal - Coke and coking coal: Affected by the downstream environmental - protection production cuts, they fluctuate weakly. The prices, trading volumes, positions, and other data of coke and coking coal in the futures and spot markets changed in the previous trading day, and there are news about coal prices and positions [60][62] - Trend intensity: Coke trend intensity is 0, and coking coal trend intensity is 0 [62] Steam Coal - Steam coal: The daily consumption recovers, and it stabilizes with fluctuations. The trading situation of steam coal in the previous trading day is introduced, and there are news about coal prices and positions [64][66] - Trend intensity: Steam coal trend intensity is 0 [67] Logs - Logs: The main contract switches, and it fluctuates widely. The prices, trading volumes, positions, and other data of logs in the futures and spot markets changed in the previous trading day, and there is news about the US dollar index [68][70] - Trend intensity: Log trend intensity is - 1 [70] Paraxylene, PTA, and MEG - Paraxylene: Go long on the positive spread at low prices. PTA: Go long on PX and short on PTA. MEG: Stop the profit of going long on PTA and short on MEG. The prices, trading volumes, spreads, and other data of paraxylene, PTA, and MEG in the futures and spot markets changed in the previous trading day, and there are news about the polyester market [71][73]

Core Viewpoint - The European shipping index futures have shown a significant rebound, with the main contract rising by 7.8% to 1904.9 points, contrasting with previous downward trends, indicating ongoing market speculation about the timing of peak freight rates in July and August and subsequent declines [2] Group 1: Market Trends - The European shipping market typically experiences a peak season in July and August due to strong demand from exporters preparing for Christmas, which usually drives freight rates up [3] - Despite the expected peak season, the European shipping index's August contract has been in a downward trend since June, influenced by macroeconomic factors and supply-demand dynamics [3] - Analysts suggest that the recent decline in the August contract may be overly pessimistic, as European export demand remains resilient and supply is stable [3] Group 2: Freight Rate Adjustments - Major shipping companies have begun to lower their freight rates for July, with specific reductions noted from companies like CMA CGM and Hapag-Lloyd, indicating a potential peak in current rates [4] - The market is currently assessing the top position of freight rates, with expectations that clearer signals from the spot market will guide future price movements [4] Group 3: Long-term Outlook - The overall freight rate center in the shipping market is expected to decline in the second half of the year due to increased supply and the delivery of new vessels [5][6] - The shipping market is projected to see a 6% growth in capacity in the latter half of 2023, which may exacerbate supply-demand imbalances and put downward pressure on rates [6] - The anticipated delivery of new vessels, estimated at 1.7 million TEU in the second half of the year, is expected to further intensify supply pressures [6] Group 4: Uncertainties - Potential uncertainties remain, including the expiration of tariff suspensions and geopolitical risks in the Middle East, which could impact shipping volumes and freight rates [7]

Group 1: Market Performance - The black building materials sector collectively declined, with glass and焦煤 falling over 3% [1][6] - Industrial silicon and polysilicon also saw significant drops, with industrial silicon down over 4% [1][8] - The European shipping main contract surged over 8%, breaking through 1900 points, indicating a recovery in shipping rates [3][5] Group 2: Supply and Demand Dynamics - The SCFI-Europe index rose significantly, reflecting a recovery in market shipping rates, with a 9.6% increase to 2123.24 points [5] - Supply and demand fundamentals are impacting the market, with expectations of a decline in cargo volume in Q3 after a summer inventory build-up [5][7] - The end of supply disruptions in焦煤 is expected to lead to further price declines, as steel demand weakens during the off-season [6][7] Group 3: Industrial Silicon Insights - Industrial silicon prices have seen a significant drop, with a current price of 7790 yuan/ton, and a recent decline of over 4% [8][9] - Production of industrial silicon is expected to increase in July, particularly in regions like Sichuan and Yunnan, but uncertainty remains regarding overall production levels [8][9] - Analysts suggest that the current price levels are close to historical lows, but the core issue remains overcapacity in the market [9]

Report Information - Report Title: "Industry - Container Shipping Index Daily Report" [1] - Date: July 1, 2025 [2] - Researchers: He Zhuoqiao, Huang Wenxin, Nie Jiayi [3] Report Industry Investment Rating - Not provided in the report Report's Core View - The spot price increase at the end of June was better than expected, with the SCFIS settlement index rising above 2000 points. The 08 contract in the futures market is currently below 1800 points and lower than the 06 contract, potentially indicating that the market is skipping the peak - season price increase and expecting low prices after the August peak. Considering the strong export demand in Europe, stable shipping capacity supply, and stable quotes and container volumes, the peak - season price increase is difficult to be falsified in the short term and may be supported by fundamentals. The 08 contract may be undervalued, while the 10 - month traditional off - season provides opportunities for short - selling and 08 - 10 positive spreads [8] Summary by Directory 1. Market Review and Operation Suggestions - Spot Market: At the end of June, the price increase was better than expected, with the SCFIS settlement index rising above 2000 points. In July, Maersk's mid - July quote was $2958, and most other shipping companies' quotes were in the $3300 - $3600 range, with a median of around $3400 [8] - Futures Market: The 08 contract has fallen below 1800 points and is lower than the 06 contract, implying that the market may skip the peak - season price increase and expect low prices after the August peak. The 08 contract may be undervalued, and there are opportunities for short - selling in October and 08 - 10 positive spreads [8] 2. Industry News - Geopolitical News: Iran launched a missile strike on the US military's Al - Udeid Air Base in Qatar. International oil prices dropped by about 9%, and the US stock market rose [9] - Shipping Market News: From June 23 - 27, the overall Chinese export container shipping market was stable, with different trends in long - haul routes. The Shanghai Export Containerized Freight Index on June 27 was 1861.51 points, a 0.4% decrease from the previous period. European routes' prices rose, Mediterranean routes' prices fell slightly, and North American routes' prices continued to decline [9][10] 3. Data Overview - Container Shipping Spot Prices: The SCFIS European route index increased by 9.6% from June 23 to June 30, while the US West route index decreased by 22.3% [12] - Container Shipping Index (European Line) Futures Quotes: Provided trading data for multiple contracts such as EC2506, EC2508, etc., including opening price, closing price, settlement price, etc. [6] - Shipping - Related Data Charts: Included charts of Shanghai Export Container Settlement Freight Index, container shipping European line futures main and sub - main contracts, global container shipping capacity, etc. [13][17]

重点品种：集运、股指、纯碱 报告日期：2025 年 6 月 30 日 申银万国期货研究所 首席点评：美国通胀可能卷土重来 国际清算银行警告称，由于特朗普的贸易政策暴露了全球经济脆弱性并加剧了经 济不确定性，美国通胀可能卷土重来。该行报告强调了通胀风险，包括贸易动荡 对本已面临挑战的经济体的影响，并建议各国央行专注于核心使命，以维护市场 信任并提升政策有效性。据中国证券报，上周，A 股震荡走高。上证指数创今年 以来新高，深证成指、创业板指本周分别上涨 3.73%、5.69%。展望后市，部分业 内机构认为，上市公司中报季即将来临，预计市场将以结构性机会为主。就后市 投资方向而言，除中报业绩好、确定性强的板块外，安全边际较高的资产、政策 提振下的大消费板块、创新药核心资产等值得关注。 1）国际新闻 集运欧线：EC 震荡，08 合约收于 1805 点，上涨 2.33%。盘后公布的 SCFI 欧线 为 2030 美元/TEU，环比上涨 195 美元/TEU，基本对应于 06.30-07.06 期间的订 舱价，反映 7 月船司的提涨情况但不及预期。近期美西运价的快速见顶和迅速回 落以及马士基在 7 月连续两周的调降令市场 ...