近年来，海南省儋州市紧抓海南自贸港建设机遇，依托洋浦经济开发区政策优势和临港产业基础，于 2020年6月3日对进出洋浦保税港区的货物实行"一线"放开、"二线"管住的货物进出境管理制度，深度释 放自贸港政策红利，构建国际化营商环境，吸引航运、贸易等产业集聚，推动产业链条向多元化延伸， 多产业体系正加速形成。 儋州市委副书记、市长陈阳表示，儋州作为海南自贸港建设的前沿，将持续优化营商环境，深化制度集 成创新，以高水平开放推进深层次改革，推动产业体系向高端化、绿色化、国际化升级，成为海南自由 贸易港"样板间"。 政策红利显现 加工增值内销免关税政策是海南自贸港最核心的税收政策之一，儋州洋浦出台加工增值鼓励类产业企业 备案机制文件，开发加工增值系统功能模块，多措并举助推加工增值免关税政策红利充分释放。 作为全国首单享受加工增值内销免关税政策的试点企业，海南澳斯卡国际粮油有限公司自2021年参与开 展加工增值内销免关税业务，已累计减免关税近3亿元。此外，自用生产设备"零关税"政策、多功能自 由贸易账户等海南自贸港政策红利的叠加，使海南澳斯卡国际粮油实现跨越式发展，产值逐年增长，年 产值从最初10亿元到2024年的近60 ...

经济增长：钢材库存压力上升 生产：电厂日耗边际转弱 通货膨胀：猪价反弹动力不足 风险提示 统计口径误差。数据统计大多为抽样，恐与现实情况有些许出入。 敬请参阅最后一页特别声明 1 (1) 电厂日耗边际转弱。9 月 9 日，6 大发电集团的平均日耗为 86.9 万吨，较 9 月 2 日的 92.2 万吨下降 5.8%。8 月 26 日，南方八省电厂日耗为 246.9 万吨，较 8 月 19 日的 246.1 万吨上升 0.3%。 (2) 高炉开工率大幅回落。9 月 5 日，全国高炉开工率 80.4%，较 8 月 29 日下降 2.8 个百分点；产能利用率 85.8%， 较 8 月 29 日下降 4.2 个百分点。9 月 5 日，唐山钢厂高炉开工率 88.8%，较 8 月 29 日上升 0.2 个百分点。 (3) 轮胎开工率连续两周回落。9 月 4 日，汽车全钢胎（用于卡车）开工率 59.8%，较 8 月 28 日下降 4.1 个百分点； 汽车半钢胎（用于轿车）开工率 67.5%，较 8 月 28 日下降 5.3 个百分点。 (4) 江浙地区织机开工率持续回升。9 月 4 日，江浙地区涤纶长丝开工率 91.3%， ...

9月10日晚，德马科技（688360）发布公告称，中标拉美某知名电商巨头的智能物流项目，中标金额达9 亿元。该项目主要提供智能物流交叉带分拣系统及相关服务。 德马科技：中标9亿元海外智能物流项目 资料显示，德马科技成立于2001年4月，主营业务是智能装备的研发、设计、制造、销售和服务。 所属行业：机械设备–通用设备–其他通用设备 康恩贝：超短期融资券和中期票据获准注册 9月10日晚，康恩贝（600572）发布公告称，公司向中国银行间市场交易商协会申请的超短期融资券和 中期票据注册已获准。超短期融资券和中期票据的注册金额均为10亿元，注册额度自通知书落款之日起 2年内有效。 资料显示，康恩贝成立于1993年1月，主营业务是药品、中药饮片及大健康产品的研发、制造及销售。 所属行业：医药生物–中药Ⅱ–中药Ⅲ 智翔金泰：GR1803注射液系统性红斑狼疮适应症临床试验获批准 9月10日晚，智翔金泰（688443）发布公告称，公司在研产品GR1803注射液系统性红斑狼疮适应症的临 床试验申请获得国家药品监督管理局批准。GR1803注射液是一款双特异性抗体药物，靶点为BCMA和 CD3，用于治疗系统性红斑狼疮等B细胞介导的 ...

太平洋航运(02343)发布公告，于2025年9月10日，该公司斥资2.35万港元回购1万股。 ...

格隆汇9月10日丨招商南油(601975.SH)公布，2025年9月10日，公司以集中竞价交易方式首次回购公司 股份5500万股，占公司总股本的比例为1.15%，购买的最高价为3.37元/股、最低价为3.27元/股，已支付 的资金总额为人民币1.83亿元（不含交易费用）。 ...

招商南油公告，2025年9月10日，公司以集中竞价交易方式首次回购公司股份5500万股，占公司总股本 （4,801,856,148股）的比例为1.15%，购买的最高价为3.37元/股、最低价为3.27元/股，已支付的资金总 额为人民币1.83亿元（不含交易费用）。累计已回购股数占总股本比例1.15%。预计回购金额2.5亿元~4 亿元。 ...

航运日报 | 2025-09-10 MSC、YML以及HPL10月上半月价格公布，10合约估值顶 部继续下修 市场分析 线上报价方面。 Gemini Cooperation：马士基上海-鹿特丹38周价格1050/1760；HPL -SPOT 9月下半月价格935/1535，10月上半月 价格935/1535。马士基远东-北欧地区PSS降为50/100. MSC+Premier Alliance：MSC 9月下半月船期报价1040/1740，10月上半月价格1040/1740；ONE9月下半月船期报 价1544/1943；HMM上海-鹿特丹9月下半月船期报价介于1700-1900美元/FEU; YML9月下半月至10月15日报价 1050/1700。 Ocean Alliance：CMA 上海-鹿特丹9月下半月船期报价1210/2020；EMC 9月份下半月船期价格介于1910-2010； OOCL 9月船期价格介于1650-1700美元/FEU。 地缘端： 一名以色列官员表示，以色列对哈马斯在卡塔尔首都多哈的高级政治领导人发动了袭击，在以色列加大 对加沙地带的攻势之际，以色列对该组织的打击进一步升级。以色列官 ...

Industry Investment Ratings No investment ratings are provided in the report. Core Views - The crude oil market's bearish trend continues, and the strategy of combining crude oil shorts with out - of - the - money call options can be maintained [2]. - Precious metals may remain strong before the Fed meeting, but volatility increases after consecutive rises [3]. - The copper market is expected to oscillate at a high level with a probability of moving higher [4]. - The market conditions of various industries are complex, with different trends and influencing factors for each commodity, and corresponding investment strategies are recommended [2 - 48]. Summary by Category Metals - **Crude Oil**: Overnight international oil prices rose and then fell. Even in an optimistic scenario, the market supply - demand surplus will increase marginally, and the bearish trend persists. The strategy of combining shorts with out - of - the money call options can be continued [2]. - **Precious Metals**: U.S. non - farm employment data was revised down, and the Middle East geopolitical situation is tense. Precious metals may be strong before the Fed meeting, with increased volatility [3]. - **Copper**: Overnight copper prices oscillated. The market is waiting for U.S. inflation indicators. The copper market is expected to oscillate at a high level with a chance of moving up [4]. - **Aluminum**: Overnight, Shanghai aluminum continued to oscillate. Downstream开工率 increased seasonally, and it is expected to test the resistance at 21,000 yuan in the short term [5]. - **Alumina**: The operating capacity is at a historical high, inventory is rising, and the supply is in surplus. The price is expected to find support around 2,830 yuan [6]. - **Cast Aluminum Alloy**: It follows the movement of Shanghai aluminum. The supply of scrap aluminum is tight, and the price difference between the spot and Shanghai aluminum may narrow further [7]. - **Zinc**: The fundamentals show increased supply and weak demand. The short - selling strategy on the profit margin of the futures market remains, and the domestic market may lead the overseas market down [8]. - **Lead**: The production of recycled lead decreased significantly, and the supply pressure eased, but the terminal consumption is weak. The price is expected to oscillate between 16,600 - 17,300 yuan [9]. - **Tin**: Overnight, tin prices declined. The market is cautious about domestic tin consumption. A small number of low - position long positions can be held based on the MA60 line [10]. Energy - related - **Fuel Oil & Low - sulfur Fuel Oil**: The decrease in warehouse receipts provides some support for the prices of LU and FU, and the futures prices rose slightly at night [20]. - **Asphalt**: The shipment volume slowed down in early September, but the impact is expected to be short - term. The price is pressured by oil prices in the short term but has support at the bottom [21]. - **Liquefied Petroleum Gas**: The international market is stable due to strong procurement demand. The domestic market has a strong bottom support, but the futures market's upside is limited [22]. Chemicals - **Polysilicon**: The futures price decreased, and the spot price was slightly adjusted down. The market sentiment is weakening. It is recommended to wait and see [11]. - **Industrial Silicon**: Affected by the weakening sentiment, the price decreased slightly. In September, supply is expected to increase and demand to decrease. It is advisable to wait and see [12]. - **PX & PTA**: They opened low and then oscillated upwards. PX has limited production growth space, and PTA's price is driven by raw materials. The demand is improving [29]. - **Ethylene Glycol**: It oscillated at a low level at night. The supply and demand are mixed [30]. - **Short - fiber & Bottle - grade Resin**: Short - fiber's supply and demand are stable, and it can be considered for long - position allocation. Bottle - grade resin has a long - term over - capacity problem [31]. Building Materials - **Steel (Thread & Hot - rolled Coil)**: Night - trading steel prices declined. Supply and demand are weak, and the market may oscillate in the short term [13]. - **Iron Ore**: The futures price oscillated weakly. The supply is stable, and the demand may recover. It is expected to oscillate at a high level [14]. - **Coke & Coking Coal**: The prices weakened during the day. The supply of carbon elements is abundant, and the downstream demand may recover. The prices are affected by policy expectations and have high volatility [15][16]. - **Silicon Manganese & Silicon Ferrosilicon**: The prices oscillated during the day. The demand for iron - making may recover, and the supply of silicon - based alloys is increasing. Attention should be paid to the continuity of relevant policies [17][18]. Agricultural Products - **Soybeans & Soybean Meal**: The U.S. soybean good - quality rate decreased slightly. The global demand for soybean oil may drive up soybean crushing. The domestic supply may have a gap in the first quarter of next year. The market may oscillate in the short term and is cautiously bullish in the medium - long term [35]. - **Soybean Oil & Palm Oil**: U.S. soybean oil prices fell. Domestic soybean oil supply exceeds demand, and palm oil import losses are narrowing. They can be considered for low - price buying in the long term [36]. - **Rapeseed Meal & Rapeseed Oil**: Canadian rapeseed prices fell. The import of rapeseed - related products is uncertain, and the prices may rise [37]. - **Corn**: The futures price continued to fall at night. The new - season corn price has certain expectations, but the futures may continue to be weak at the bottom [39]. - **Cotton**: U.S. cotton prices rose slightly. The domestic new - cotton harvest is expected to be good, and the demand is average. It is advisable to wait and see [42]. - **Sugar**: U.S. sugar prices oscillated. Brazilian sugar production may remain high, and the domestic sugar market is in good condition. The price is expected to oscillate [43]. - **Apples**: The futures price dropped significantly. The supply is expected to be stable, and the futures price may continue to decline [44]. - **Wood**: The price oscillated. The supply is low, and the demand is not in the peak season. It is advisable to wait and see [45]. - **Pulp**: The futures price declined. The port inventory is relatively high, and the supply is loose. It is advisable to wait and see [46]. Livestock and Poultry - **Pigs**: The spot and futures prices of pigs declined. The supply pressure is large in the second half of the year, and it is advisable to wait and see [40]. - **Eggs**: The futures price rebounded due to the departure of short - selling funds. The spot price is rising seasonally. The far - month contracts can be considered for long - position layout [41]. Financial Instruments - **Stock Index Futures**: The stock market was weak, and the futures prices fell. The market style may continue to increase the allocation of technology - growth sectors [47]. - **Treasury Bond Futures**: The prices of treasury bond futures fell across the board. The yield curve may become steeper [48]. Shipping - **Container Freight Index (European Line)**: The spot price is expected to decline further, and the 10 - contract may fall below the low of the first half of the year. The far - month contracts are relatively strong but may also be under pressure [19].

2025年9月10日 集运日报 (航运研究小组) SCFIS持续下跌,中东局势再度紧张,现货运价持续低迷,盘面处于筑底过程,不建议继续加仓,设置好止损, SCFIS、NCFI运价指数 | 9月8日 | 9月5日 | | --- | --- | | 上海出口集装箱结算运价指数SCFIS (欧洲航线) 1566.46点, 较上期下跌11.7% | 宁波出口集装箱运价指数NCFI (综合指数) 1023.16点,较上期下跌6.83% | | 上海出口集装箱结算运价指数SCFIS（美西航线）980.48点，较上期下跌3.3% | 宁波出口集装箱运价指数NCFI (欧洲航线) 855.93点, 较上期下跌7.92% | | 9月5日 | 宁波出口集装箱运价指数NCFI (美西航线) 1338.34点, 较上期下跌4.19% | | | 9月5日 | | 上海出口集装箱运价指数SCFl公布价格1444.44 点，较上期下跌0.62点 | 中国出口集装箱运价指数CCFI（综合指数) 1149.14点，较上期下跌0.6% | | 上海出口集装箱运价指数SCFl欧线价格1315USD/TEU,较上期下跌11.21% | | | ...

Group 1 - Shipping concept stocks showed strong performance in early trading [1] - China Merchants Energy (招商南油) and China Merchants Industry (招商轮船) reached the daily limit up [1] - COSCO Shipping Energy (中远海能) increased by over 8% [1] - COSCO Shipping Special (中远海特) also experienced a rise [1]