1. Report Industry Investment Rating - No relevant information provided 2. Core Viewpoints of the Report - The pre - stocking for the Spring Festival is coming to an end, the egg sales are stable, the supply and demand are relatively balanced, and the breeding side has a good profit and a strong willingness to support prices. With the support of good profits, the enthusiasm for chick replenishment has increased while that for old chicken culling has slightly slowed down, weakening the expectation of a decline in inventory. From the perspective of the futures market, restricted by high inventory pressure and the expectation of egg price decline after the Spring Festival, the futures price has been generally weak recently, and short - term participation is recommended. [2] 3. Summary by Relevant Catalogs 3.1 Futures Market - The futures closing price of the active egg contract is 2,923 yuan per 500 kilograms, with a week - on - week increase of 12 yuan. The net long position of the top 20 futures holders of eggs is - 11,506 lots, a decrease of 3,854 lots compared to last period. The egg futures spread between May and September contracts is - 422 yuan per 500 kilograms, with a week - on - week increase of 48 yuan. The futures trading volume of the active egg contract is 106,233 lots, a decrease of 17,042 lots compared to last period. The registered warehouse receipt volume of eggs is 0 lots. [2] 3.2 Spot Market - The spot price of eggs is 3.43 yuan per catty, with a week - on - week decrease of 0.01 yuan. The national laying hen inventory index is 109.28 (with 2015 as the base year of 100), and the national culled laying hen index is 124.98 (with 2015 as the base year of 100), with a week - on - week decrease of 23.8. The basis (spot - futures) is - 2.75 yuan per 500 kilograms. [2] 3.3 Upstream Situation - The average price of laying hen chicks in the main production areas is 3.2 yuan per chick, remaining unchanged. The national new - born chick index is 71.99 (with 2015 as the base year of 100), with a week - on - week decrease of 21.63. The average price of laying - hen compound feed is 2.84 yuan per kilogram, remaining unchanged. The breeding profit per laying hen is 0.03 yuan per week, a decrease of 0.27 yuan compared to last period. The average price of culled chickens in the main production areas is 8.86 yuan per kilogram, a decrease of 0.58 yuan compared to last period. The average age of culled chickens in the country is 500 days, remaining unchanged. [2] 3.4 Industry Situation - The average wholesale price of pork is 18.16 yuan per kilogram, a decrease of 0.1 yuan compared to last period. The average wholesale price of 28 key - monitored vegetables is 5.55 yuan per kilogram, an increase of 0.03 yuan compared to last period. The average wholesale price of dressed chickens is 17.39 yuan per kilogram, an increase of 0.25 yuan compared to last period. The weekly inventory in the circulation link is 1.07 days, an increase of 0.02 days compared to last period. The weekly inventory in the production link is 1.02 days, an increase of 0.05 days compared to last period. The monthly export volume of fresh eggs is 14,898.72 tons, an increase of 1,853.2 tons compared to last period. [2] 3.5 Downstream Situation - The weekly consumption volume of eggs in the sales areas is 7,210 tons, a decrease of 165 tons compared to last period. [2] 3.6 Industry News - Today, the average price of eggs in Shandong, a major production area, is 6.88 yuan per kilogram, remaining unchanged from yesterday; the average price of eggs in Hebei is 6.72 yuan per kilogram, remaining unchanged from yesterday; the average price of eggs in Guangdong is 6.87 yuan per kilogram, remaining unchanged from yesterday; the average price of eggs in Beijing is 7.56 yuan per kilogram, remaining unchanged from yesterday. [2]

沪镍产业日报 2026-02-11 增长，现货升水下调。技术面，持仓持稳价格调整，市场情绪平淡。观点参考：预计短线沪镍震荡调整， 免责声明 关注14关口争夺。 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 | 期货主力合约收盘价:沪镍(日,元/吨) | 139360 | 6010 03-04月合约价差:沪镍(日,元/吨) | -300 | -70 | | | LME3个月镍(日,美元/吨) | 17550 | 140 主力合约持仓量:沪镍(日,手) | 76440 | -3802 | ...

期货公司观点 广发期货： 当前数据显示美国就业和通胀持续放缓但部分领域在美联储降息提振下有所改善，尽管美联储未来在衡 量就业的通胀目标问题上仍有分歧短期趋于谨慎，但贸易摩擦和地缘风险的担忧驱动资金提前配置使金 价中长期上涨空间，在全球主流机构持续上调贵金属价格预测的情况下，部分机构投资者选择提前"抢 跑"配置贵金属，对价格形成支撑。市场或将更多受到美国经济数据对美联储政策预期影响和地缘局势 扰动，综合来看短期消息面影响减弱行情维持偏强震荡但波动回落，黄金在 20 日均线上方多单继续持 有，可卖出虚值看跌期权可赚取时间价值。 最近美元一跌，黄金就跟着往上冲，这波涨势还没到头，逻辑特别简单、接地气。 黄金是用美元计价的，美元越不值钱，买同样的黄金要花的美元就越多，金价自然就涨了。就像你去国 外买东西，人民币升值了，你花同样的钱能买更多东西；反过来，美元贬值，全球买家买黄金的成本变 低，买的人一多，价格就被推上去。 现在美元本身就处在弱势区间，而且美联储降息的预期一直没断。降息意味着美元的吸引力会下降，资 金会从美元资产里跑出来，找更保值的去处，黄金就是首选。再加上全球央行还在不停买黄金，给金价 托着底。 就算中间 ...

静，贸易商多以交付节前加工订单为主，整体资源消耗速度放缓，因此全国不锈钢社库转入季节性累库。 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 不锈钢产业日报 2026-02-11 | 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:不锈钢(日,元/吨) | 14040 | 300 03-04月合约价差:不锈钢(日,元/吨) | -105 | -20 | | | 期货前20名持仓:净买单量:不锈钢(日,手) | -8958 | -2618 主力合约持仓量:不锈钢(日,手) | 32627 | -4794 | | | 仓单数量:不锈钢(日,吨) | 54551 | 421 | | | | 现货市场 | 304/2B卷:切边:无锡(日,元/吨) | 14650 | 0 市场价:废不锈钢304:无锡(日,元/吨) | 9350 | 0 | | | 基差:不锈钢(日,元/吨) | 530 | -5 | | | | 上游情况 | 电解镍 ...

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 螺纹钢产业链日报 2026/2/11 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | RB主力合约收盘价(元/吨) | 3,054.00 | +2↑ RB主力合约持仓量(手) | 2063660 | -1877↓ | | | RB合约前20名净持仓(手) | -27641 | -2495↓ RB5-10合约价差(元/吨) | -49 | -4↓ | | | RB上期所仓单日报(日，吨) | 25003 | -5107↓ HC2605-RB2605合约价差(元/吨) | 174 | +6↑ | | 现货市场 | 杭州 HRB400E 20MM(理计，元/吨) | 3,250.00 | 0.00 杭州 HRB400E 20MM(过磅，元/吨) | 3,333 | 0.00 | | | 广州 HRB400E 20MM(理计，元/吨) | 3,420.00 | 0.00 天津 HRB400E 20MM( ...

热轧卷板产业链日报 2026/2/11 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。 | 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) | 3,228 | +8↑ HC 主力合约持仓量(手) | 1552374 | +9529↑ | | | HC 合约前20名净持仓(手) | 41,665 | +8975↑ HC5-10合约价差(元/吨) | -19 | 0.00 | | | HC 上期所仓单日报(日 ...

2026年2月上旬以来，贵金属市场经历了近四十年来罕见的剧烈震荡。据统计，当周伦敦黄金现货价格单日价差持续 在300美元/盎司左右，白银更在七个交易日内出现11次超5%的剧烈波动，单月波动率突破100%。市场波动率急剧攀 升，交易节奏明显转向快进快出，带动A股有色板块同步承压。 在此背景下，沃什被提名美联储主席的消息，也成为压垮市场情绪的最后一根稻草。面对极端行情与交易所紧急上调 保证金，投资者难免困惑，对此，瑞达期货特此梳理当前市场的三大核心关切，以专业视角厘清迷雾： 一问波动：是情绪尾声，还是趋势拐点？ 二问逻辑：是规则重塑，还是噪音干扰？ 三问对策：如何借专业之力，在风浪中稳健前行？ 近期贵金属、有色的剧烈波动，究竟是短期情绪宣泄，还是中长期趋势的转折点？除沃什提名外，哪些因素共同导致 市场波动？ 本次金银价格的暴跌，速度之快创了近四十年来之最，此时又适逢特朗普宣布美联储新任主席的提名，表面看是这一 提名引致了金银的暴跌。 瑞达期货深耕CTA十余年，在致力于帮助客户穿越市场迷雾的初衷下，积累了丰富的大宗商品研究、投资和风险管理 的经验。以今年1月30日和2月2日这两天为例，面对大宗商品，尤其是贵金属出现 ...

作为扎根安徽、辐射全国的综合性期货经营机构，徽商期货始终将产学研一体化作为发展战略，构建了 多层次、常态化的校企合作体系，形成"实践实训、课题研发、人才共育"的协同育人模式。依托高校合 作平台，徽商期货将产业一线的实际需求转化为科研课题，让高校的智力资源对接行业发展痛点，实现 了"教学有靶向、科研有落地、产业有支撑"的良性循环。 本次获奖课题紧扣行业高质量发展脉搏，聚焦人工智能、交易咨询、数字金融等核心领域，充分展现理 论与实践深度融合的创新价值。其中，徽商期货作为申报单位与合肥工业大学计算机与信息学院联合申 报的《基于人工智能的高风险期货交易预警机制研究》，作为合作单位与安徽大学经济学院联合申报的 《数字金融赋能期货交易咨询业务高质量发展研究》均斩获"良好"评议；公司部分员工作为课题组成 员，与合肥工业大学经济学院联合开展的《"保收入"导向的"保险+期货"常态化运行机制研究》课题获 评"优秀"。 产学研深度融合结硕果 ——徽商期货在中期协联合研究计划（第十八期）中斩获佳绩 近日，中国期货业协会联合研究计划（第十八期）课题评审结果正式揭晓，徽商期货与高校联合攻关的 多项课题喜获佳绩。此前，公司与安徽大学合作申 ...

Group 1 - In January, the national futures market in China saw a significant increase in trading volume and value, with a trading volume of 912 million contracts and a trading value of 100.26 trillion yuan, representing year-on-year growth of 65.09% and 105.14% respectively [1] - The increase in market activity is attributed to several factors, including a rotation effect among market sectors, heightened demand for hedging and asset allocation due to geopolitical risks, increased price volatility of certain commodities, and seasonal effects at the beginning of the year [1][2] - The number of listed futures and options in China reached 165 by the end of January, with over 50 products, including silver, copper, aluminum, tin, and nickel, experiencing year-on-year trading volume growth exceeding 100% [2] Group 2 - Notable increases in trading volume were observed in nickel futures, which grew by 799.06%, followed by copper and aluminum futures with increases of 403.75% and 395.39% respectively, and silver futures with a growth of 177.89% [2] - The demand for precious and non-ferrous metals is driven by industrial needs, particularly in sectors such as photovoltaics, artificial intelligence, and electric vehicles, which has intensified the investment interest in these commodities [2] - The top three products by trading value in January were silver, gold, and copper on the Shanghai Futures Exchange, while the Zhengzhou Commodity Exchange and Dalian Commodity Exchange had PTA, cotton, and coking coal as their top products [3]

| 上期所指定交割金库 | 期货 | 增减 | | --- | --- | --- | | | 105072 | 0 | 市场传出周大福春节后将对黄金产品调价的消息，引发行业及消费者广泛关注。周大福门店核实，此次 调价或于3月中旬正式启动，目前部分门店已收到相关通知，涨价重点集中在一口价产品，预计涨幅或 为15%-30%，但具体调价细节及执行时间仍以到店价格标签调整为准。 美国2025年12月零售销售环比意外零增长，显著弱于预期值0.4%的增幅，前值为增长0.6%。核心零售 销售环比下降0.1%，预期为增长0.3%。主要依赖工资增长的低收入群体消费表现依然疲弱。 上海期货交易所指定交割仓库期货周三（2月11日）仓单日报显示，黄金期货总计105072千克，今日仓 单较上一日持平。 沪金主力盘内震荡偏强，周三（2月11日）黄金期货开盘价1122.68元/克，截至目前最高1132.60元/克， 最低1116.40元/克。截止发稿报1130.40元/克，涨幅0.56%，成交量为217933手，持仓为160510手，日持 仓增加3600手。 上海期货交易所黄金期货仓单日报(单位：千克) 美联储洛根表示，美联储的政策立场 ...