Group 1: Market Interest Rates and Central Bank Operations - DRO01 closed at 1.37 with a 9.28 bp increase, DR007 at 1.56 with a 1.86 bp increase, GC001 at 1.62 with a 5.00 bp increase, and GC007 at 1.68 with a 2.00 bp increase [3] - SHBOR 3M remained at 1.58, LPR 5 - year at 3.50, 1 - year treasury at 1.31, 5 - year treasury at 1.53 (down 0.50 bp), 10 - year treasury at 1.80 (down 0.40 bp), and 10 - year US treasury at 4.22 [3] - The central bank conducted 3114 billion yuan of 7 - day reverse repurchase operations with an interest rate of 1.40%, resulting in a net daily investment of 2059 billion yuan after 1055 billion yuan of reverse repurchases matured [3] - This week, 4055 billion yuan of reverse repurchases will mature, and 5000 billion yuan of 182 - day buy - out reverse repurchases will mature on Friday [3] Group 2: Stock Index Performance - The CSI 300 rose 0.11% to 4724.3, the SSE 50 rose 0.18% to 3087.4, the CSI 500 fell 0.06% to 8306.4, and the CSI 1000 rose 0.2% to 8250.3 [4] - The trading volume of the three major stock exchanges in Shanghai, Shenzhen, and Beijing was 21249 billion yuan, a decrease of 1455 billion yuan from the previous day [4] - The sectors of culture and media, games, shipbuilding, education, and communication services led the gains, while precious metals, photovoltaic equipment, jewelry, energy metals, and department stores led the losses [4] - IF volume was 65253 (down 27.9), IF open interest was 282444 (down 2.1); IH volume was 29479 (down 28.7), IH open interest was 101061 (down 2.3); IC volume was 94650 (down 30.8), IC open interest was 296183 (down 3.5); IM volume was 133170 (down 28.7), IM open interest was 378633 (down 2.7) [4] Group 3: Market Outlook - The stock index showed a narrow - range oscillation. The launch of ByteDance's AI video - generation model Seedance 2.0 boosted the corresponding AI application sector [5] - In the short term, the stock index rebounded after continuous adjustments and is now in an oscillation phase. The pre - holiday market is expected to maintain a relatively strong oscillation pattern [5] - Although domestic policies support the stock index and overseas suppression factors have marginally eased, the pre - holiday market risk appetite has declined, and the sector rotation has accelerated. The daily trading volume of A - shares has fallen to the range of 2 - 2.3 trillion yuan, making it more difficult for the stock index to make a strong upward attack before the holiday [5] Group 4: Stock Index Futures Premium and Discount - IF premium/discount rates for the current - month, next - month, current - quarter, and next - quarter contracts were - 3.02%, 0.06%, 2.04%, and 3.07% respectively [6] - IH premium/discount rates were - 6.38%, - 1.93%, - 0.20%, and 1.67% respectively [6] - IC premium/discount rates were - 1.12%, 1.81%, 3.99%, and 4.84% respectively [6] - IM premium/discount rates were - 1.90% (not clear in the text), 2.48%, 6.42%, and 7.33% respectively [6]

金融期货早评 【风险提示】海外经济数据超预期、特朗普政策超预期 重要声明：以上内容及观点仅供参考，不构成任何投资建议 宏观：人民币汇率升至 6.90 【市场资讯】1）央行发布 2025 年第四季度中国货币政策执行报告：继续实施好适度宽松 的货币政策。2）芝商所：计划于今年夏季开始推出个股期货。3）日本政府将于 2 月 18 日召开特别国会，举行首相指名选举。4）ADP 报告：截至 1 月 24 日的四周内，美国私营 部门就业人数平均每周增长 6500 人。5）美国 12 月零售销售月率录得 0%，低于预测中值 0.4%，前值 0.60%。6）美联储——①哈玛克：经济前景向好，通胀仍然偏高，今年无迫切 降息必要。②洛根：对当前利率政策的效果持"谨慎乐观"态度，更为担忧通胀问题。 【核心研判与传导逻辑】当前，国内宏观政策正以协同发力为核心导向，为经济发展保驾 护航。货币政策锚定宏观政策一致性，与财政政策形成深度协同，具体通过三重路径推进： 一是公开市场操作支持政府债券发行，二是"再贷款+财政贴息"优化资源配置，三是担保增 信分担风险成本，提升金融机构对企业的融资支持力度。同时，央行在货币政策执行报告 中重提引导短 ...

1. Report Industry Investment Rating - No information provided in the report 2. Core View of the Report - The current market trading sentiment is cautious, and the volatile market remains unchanged. Fundamental factors continue to support the gold price. For silver, the tightening inventory supports the near - month price. It is recommended to stay on the sidelines for now. The reference operating range for the main contract of Shanghai gold is 1050 - 1250 yuan/gram, and for the main contract of Shanghai silver is 19000 - 21000 yuan/kilogram [3] 3. Summary According to Relevant Catalogs 3.1 Market Quotes - Shanghai gold fell 0.38% to 1119.74 yuan/gram, and Shanghai silver fell 1.54% to 20242.00 yuan/kilogram. COMEX gold rose 0.56% to 5050.90 US dollars/ounce, and COMEX silver fell 1.88% to 80.69 US dollars/ounce. The yield of the 10 - year US Treasury bond was reported at 4.16%, and the US dollar index was reported at 96.86 [1] - COMEX silver continued its recent strong de - stocking trend, with the total inventory continuously declining and approaching the 390 million - ounce mark (currently 390.466 million ounces), and the inventory decreased by about 4.0454 million ounces in a single day. Mainstream delivery warehouses continued to de - stock, leading to a tightening inventory and supporting the price of the near - month silver contract [2] 3.2 Data Comparison - The report provides a comparison of key gold and silver data on February 10, 2026, and February 9, 2026, including closing prices, trading volumes, open interests, inventories, and precipitation funds of COMEX gold, LBMA gold, SHFE gold, AuT + D, COMEX silver, LBMA silver, SHFE silver, and AgT + D, as well as their daily changes, daily price change rates, and historical quantiles in the past year [5][6] 3.3 Charts - There are multiple charts in the report, including the relationship between COMEX gold price and US dollar index, actual interest rate, trading volume, and total open interest; the relationship between Shanghai gold price, trading volume, and total open interest; the near - far month structure of COMEX gold and Shanghai gold; the relationship between COMEX silver price, trading volume, and total open interest; the near - far month structure of COMEX silver and Shanghai silver; the net long positions of COMEX gold and silver management funds and their prices; the total positions of gold and silver ETFs; and the internal - external price difference statistics and seasonality charts of gold and silver [11][26][40]

Report Summary 1. Investment Rating The report does not provide an overall investment rating for the industries. 2. Core Views - **Macro - financial**: In the short - term, the divergence in US monetary policy expectations and the approaching Chinese Spring Festival have affected the market. But in the long - term, policy support for the capital market remains unchanged. For stocks, it is recommended to buy on dips; for bonds, the market is expected to continue to fluctuate; for precious metals, maintain a wait - and - see attitude [4][6][9]. - **Non - ferrous metals**: Most non - ferrous metals are expected to fluctuate. Factors such as policy expectations, supply and demand, and inventory levels affect their prices. For example, copper is affected by reserve policies and supply - demand patterns; aluminum is supported by low LME inventory; zinc may be affected by macro sentiment; lead's price stability depends on post - holiday downstream restocking; nickel is under fundamental pressure; tin has supply - demand marginal relaxation; lithium carbonate has uncertain supply - demand after the holiday; alumina is affected by mine strikes and supply overcapacity; stainless steel is supported by fundamentals; and cast aluminum alloy is supported by cost and supply - side factors [12][14][17][18][20][21][22][24][26][28]. - **Black building materials**: The black building materials sector is in a bottom - game stage with multiple factors. Steel products are affected by domestic real - estate policies and overseas monetary policies, and are expected to fluctuate weakly. Iron ore is expected to fluctuate weakly due to supply and demand and inventory factors. Coking coal and coke may face short - term price pressure and potential long - term upward trends. Glass and soda ash are expected to continue to fluctuate, with glass lacking demand support and soda ash having weak demand. Manganese - silicon and silicon - iron are affected by market sentiment and cost factors. Industrial silicon and polysilicon are in a supply - demand double - weak situation [31][33][36][37][40][42][45][49][51]. - **Energy and chemicals**: For rubber, it is recommended to reduce risks before the Spring Festival. Crude oil should be taken profit at high prices and mid - term layout should be the main strategy. Methanol should be observed in the short - term. Urea should be short - sold. For pure benzene and styrene, profits can be gradually taken. PVC has a poor fundamental situation. Ethylene glycol has a high inventory pressure. PTA and p - xylene have good mid - term prospects. Polyethylene and polypropylene are affected by supply and demand and cost factors [56][58][61][63][65][68][70][73][75]. - **Agricultural products**: For live pigs, short - term selling on rebounds is recommended, while long - term support should be noted. For eggs, short - term short - selling is recommended, and the long - term situation depends on capacity reduction. For soybean and rapeseed meal, prices are expected to fluctuate. For oils and fats, mid - term bullishness is expected, and buying on dips is recommended. For sugar, wait for the international price to rebound after the northern hemisphere's harvest. For cotton, there is potential for long - term price increase, and low - buying opportunities before the Spring Festival should be considered [83][85][88][90][94][97]. 3. Summary by Industry Macro - financial - **Stock Index** - **Market Information**: The central bank will continue the moderately loose monetary policy. SMC's Q4 revenue increased by 4.5% quarter - on - quarter, with a gross margin of 19.2% and a capacity utilization rate of 95.7%. Byte released a new image - generation model. The National Development and Reform Commission promotes the integration of bidding and AI [2]. - **Strategy**: Due to the divergence in US monetary policy expectations and the approaching Spring Festival, the market risk appetite is suppressed. In the long - term, policy support remains, so the strategy is to buy on dips [4]. - **Treasury Bonds** - **Market Information**: On Tuesday, the main contracts of TL, T, TF, and TS had different changes. The central bank will continue the moderately loose monetary policy and conducted a net injection of 2059 billion yuan through reverse repurchase [5]. - **Strategy**: The central bank's policy indicates a loose capital situation. However, the economic recovery foundation is not solid, and the demand is weak. The bond market is expected to continue to fluctuate [6]. - **Precious Metals** - **Market Information**: Gold and silver prices in domestic and international markets declined. The inflation expectations in the US decreased, and the retail sales were stagnant. COMEX silver inventory decreased [7][8]. - **Strategy**: The market sentiment is cautious, and prices are expected to fluctuate. Fundamentals support the price of gold, and the tight inventory supports the near - month price of silver. It is recommended to wait and see [9]. Non - ferrous metals - **Copper** - **Market Information**: US retail sales data affected copper prices. LME and domestic copper inventories changed, and the import was at a loss [11]. - **Strategy**: Policies and economic data support the sentiment. The supply of copper ore is tight, but the short - term supply is sufficient. Copper prices are expected to fluctuate [12]. - **Aluminum** - **Market Information**: The market volatility decreased before the holiday. Aluminum prices adjusted due to production cuts in Mozambique. Domestic and LME aluminum inventories changed [13]. - **Strategy**: Domestic inventory accumulates, but LME inventory is low. Aluminum prices are expected to fluctuate [14]. - **Zinc** - **Market Information**: The prices of zinc futures and spot changed. The inventory increased, and the import was at a loss [15][16]. - **Strategy**: The inventory accumulation of zinc ore slows down, and the domestic zinc ingot inventory accumulates. The industry is weak, but macro sentiment may drive the price up [17]. - **Lead** - **Market Information**: The prices of lead futures and spot changed. The inventory increased, and the import had a profit [18]. - **Strategy**: The lead ore inventory is high, and the smelter's operating rate decreases seasonally. The price stability depends on post - holiday restocking [18]. - **Nickel** - **Market Information**: Nickel prices declined slightly. The spot premium and cost remained stable [19]. - **Strategy**: There is a short - term rebound demand, but the fundamentals are under pressure. Nickel prices are expected to fluctuate widely [20]. - **Tin** - **Market Information**: Tin prices fluctuated narrowly. The supply was restricted by raw materials, and the demand was weak [21]. - **Strategy**: Tin prices may rebound with precious metals, but the short - term supply - demand is loose. It is recommended to wait and see [21]. - **Lithium Carbonate** - **Market Information**: The spot and futures prices of lithium carbonate increased slightly [22]. - **Strategy**: The pre - holiday capital is cautious. The future supply - demand is uncertain. Lithium prices are expected to fluctuate within a range [22]. - **Alumina** - **Market Information**: The alumina index declined. The basis and inventory changed [23]. - **Strategy**: The mine strike in Guinea needs attention, and the supply overcapacity persists. It is recommended to wait and see [24]. - **Stainless Steel** - **Market Information**: The price of stainless - steel futures increased slightly. The spot price remained stable, and the inventory increased [26]. - **Strategy**: The supply pressure is controllable, and the fundamentals are supported. It is recommended to buy on dips [26]. - **Cast Aluminum Alloy** - **Market Information**: The price of cast aluminum alloy futures declined slightly. The inventory decreased [27]. - **Strategy**: The cost increases, and the supply - side factors support the price [28]. Black building materials - **Steel** - **Market Information**: The prices of rebar and hot - rolled coil futures declined. The inventory and position changed [30]. - **Strategy**: The market is in a bottom - game stage, affected by domestic and overseas factors. Steel prices are expected to fluctuate weakly [31]. - **Iron Ore** - **Market Information**: The price of iron - ore futures remained unchanged. The spot price and basis were reported [32]. - **Strategy**: The overseas shipment decreased, the demand was affected by equipment failure, and the inventory was high. Iron - ore prices are expected to fluctuate weakly [33]. - **Coking Coal and Coke** - **Market Information**: The prices of coking coal and coke futures declined. The spot prices and basis were reported [34]. - **Strategy**: Overseas coal disturbances affect sentiment, and the short - term price upward drive is weak. There may be a long - term upward trend, but beware of post - holiday price corrections [36][37][39]. - **Glass and Soda Ash** - **Market Information**: The prices of glass and soda ash futures declined. The inventory and position changed [40][41]. - **Strategy**: Glass lacks demand support, and soda ash has weak demand. Both are expected to continue to fluctuate [40][42]. - **Manganese - silicon and Silicon - iron** - **Market Information**: The price of manganese - silicon futures increased slightly, and that of silicon - iron futures decreased slightly [43]. - **Strategy**: The market sentiment and cost factors affect the prices. Pay attention to potential cost - driven events [44][45]. - **Industrial Silicon and Polysilicon** - **Market Information**: The prices of industrial silicon and polysilicon futures declined. The supply and demand changed [46][50]. - **Strategy**: Both are in a supply - demand double - weak situation. Industrial silicon prices are expected to fluctuate weakly, and polysilicon prices are expected to fluctuate [49][51]. Energy and chemicals - **Rubber** - **Market Information**: Rubber prices followed the market to rebound. The tire - enterprise operating rate decreased, and the inventory increased [53][54]. - **Strategy**: Reduce risks before the Spring Festival. Trade short - term on the disk and set stop - losses [56]. - **Crude Oil** - **Market Information**: The prices of crude - oil and refined - oil futures increased. The inventory of crude oil and refined oil changed [57]. - **Strategy**: Take profit at high prices and focus on mid - term layout [58]. - **Methanol** - **Market Information**: The regional spot and futures prices of methanol changed slightly [59]. - **Strategy**: The current price has factored in many negative factors. Observe in the short - term [61]. - **Urea** - **Market Information**: The regional spot and futures prices of urea changed [62]. - **Strategy**: The import window is open, and the fundamentals are bearish. Short - sell [63]. - **Pure Benzene and Styrene** - **Market Information**: The prices of pure benzene and styrene changed. The supply, demand, and inventory changed [64]. - **Strategy**: The non - integrated profit of styrene has been repaired. Gradually take profits [65]. - **PVC** - **Market Information**: The price of PVC futures declined. The cost, supply, demand, and inventory changed [66][67]. - **Strategy**: The fundamentals are poor, with strong supply and weak demand. Pay attention to the changes in capacity and operation [68]. - **Ethylene Glycol** - **Market Information**: The price of ethylene - glycol futures declined. The supply, demand, and inventory changed [69]. - **Strategy**: The inventory pressure is high, and there is a need for production reduction. There is a risk of rebound [70]. - **PTA** - **Market Information**: The price of PTA futures increased. The supply, demand, and inventory changed [71]. - **Strategy**: Enter the inventory - accumulation stage during the Spring Festival. Pay attention to mid - term buying opportunities [73]. - **p - Xylene** - **Market Information**: The price of p - xylene futures increased. The supply, demand, and inventory changed [74]. - **Strategy**: The inventory is expected to increase before the maintenance season. Pay attention to mid - term buying opportunities following crude oil [75]. - **Polyethylene (PE) and Polypropylene (PP)** - **Market Information**: The prices of PE and PP futures increased. The supply, demand, and inventory changed [76][78]. - **Strategy**: PE's valuation has room to decline, and PP's price may bottom out. For PP, buy on dips for the 5 - 9 spread [77][80]. Agricultural products - **Live Pigs** - **Market Information**: The domestic pig prices continued to decline [82]. - **Strategy**: Short - term selling on rebounds, and note the long - term support [83]. - **Eggs** - **Market Information**: The national egg prices were mostly stable with a few declines [84]. - **Strategy**: Short - term short - selling, and the long - term depends on capacity reduction [85]. - **Soybean and Rapeseed Meal** - **Market Information**: The prices of soybean and rapeseed meal futures increased slightly. The supply and demand situation changed [86][87]. - **Strategy**: The prices are expected to fluctuate [88]. - **Oils and Fats** - **Market Information**: The prices of oil futures declined. The supply, demand, and inventory changed [89][90]. - **Strategy**: Mid - term bullish, buy on dips [90]. - **Sugar** - **Market Information**: The price of sugar futures increased slightly. The supply and demand situation changed [91][93]. - **Strategy**: Wait for the international price to rebound after the northern hemisphere's harvest. Observe domestically [94]. - **Cotton** - **Market Information**: The price of cotton futures increased slightly. The supply, demand, and inventory changed [95][96]. - **Strategy**: Short - term high - level fluctuations, long - term potential for increase. Look for low - buying opportunities before the Spring Festival [97].

大越期货投资咨询部 金泽彬 从业资格证号：F3048432 投资咨询证号： Z0015557 联系方式：0575-85226759 重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投 资建议。 我司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投资需谨慎。 交易咨询业务资格：证监许可【2012】1091号 2026-02-11燃料油早报 CONTENTS 目 录 1 每日提示 2 多空关注 3 基本面数据 4 5 价差数据 库存数据 燃料油： 1. 伊朗局势动荡 2. 中国进口配额下达 1.需求端乐观仍待验证 2.上游端原油承压受挫 每日期货行情 1、基本面：亚洲低硫燃料油市场结构持稳于当前水平附近，在即将到来的农历新年前，充足的供应抵消了下游 船用燃料需求坚挺的利好；亚洲高硫燃料油市场在近期上涨后，因需求温和且供应充足开始降温；中性 2、基差：新加坡高硫燃料油424.65美元/吨，基差为174元/吨，新加坡低硫燃料油为459.12美元/吨，基差为-49元 /吨，现货升水期货；偏多 3、库存：新加坡燃料油2月4日当周库存为2552.9万桶，增加95 ...

交易咨询业务资格：证监许可【2012】1091号 2026-02-11原油早报 大越期货投资咨询部 金泽彬 从业资格证号：F3048432 投资咨询证号： Z0015557 联系方式：0575-85226759 重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投 资建议。 我司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投资需谨慎。 CONTENTS 目 录 1 每日提示 2 近期要闻 3 多空关注 4 基本面数据 5 持仓数据 原油2603： 1.基本面：美国总统特朗普表示，正考虑向中东派遣第二艘航母，目前华盛顿与德黑兰正准备重启旨在避免 新冲突的谈判，特朗普在接受以色列媒体采访时表示，若与伊朗无法达成协议，美国将不得不采取"非常强 硬的措施"；美国能源信息署（EIA）发布最新短期能源展望报告，上调今明两年美国石油产量预测，而美国 石油需求预测维持不变，该机构称，在EIA预测的到2027年底的这段时期内，全球石油产量的增长速度预计 将超过需求，从而增加库存并对价格造成压力；中性 2.基差：2月10日，阿曼原油现货价为68.28美元/桶，卡塔尔海 ...

交易咨询业务资格：证监许可【2012】1091号 CONTENTS 目 录 1 前日回顾 2 每日提示 3 4 5 今日关注 基本面数据 持仓数据 黄金 1、基本面：美股AI担忧重燃，美国零售数据逊色，金价震荡回落；美国三大股指收 盘涨跌不一，欧洲三大股指收盘涨跌不一；美债收益率集体下跌，10年期美债收益 率跌5.94个基点报4.143%；美元指数涨0.01%报96.86，离岸人民币对美元微幅升值 报6.9143；COMEX黄金期货跌0.62%报5047.90美元/盎司；中性 2、基差：黄金期货1121.22，现货1118，基差-3.22，现货贴水期货；中性 3、库存：黄金期货仓单105072千克，增加1020千克；偏空 4、盘面：20日均线向上，k线在20日均线上方；偏多 5、主力持仓：主力净持仓多，主力多增；偏多 6、预期：今日关注中国1月CPI和PPI、美国非农就业数据、美国12月营建许可终 值、美联储和欧央行委员讲话。美股AI担忧重燃，美国零售数据逊色，金价回落。 沪金溢价扩大至2.5元/克左右。国内外节假日集中，波动率下降，今日关注非农数 据，金价向上趋势不变。 贵金属早报—— 2026年2月11日 ...

免责声明: 以上内容所依据的信息均来源于交易所、媒体及资讯公司等发布的公开资料或通过合法授权渠道向发布人取得的资讯，我们力求分析及建议内 容的客观、公正，研究方法专业审慎，分析结论合理，但公司对信息来源的准确性和完整性不作任何保证，也不保证所依据的信息和建议不会 发生任何变化。且全部分析及建议内容仅供参考，不构成对您的任何投资建议及入市依据，客户应当自主做出期货交易决策，独立承担期货交 易后果，凡据此入市者，我公司不承担任何责任。未经公司授权，不得随意转载、复制、传播本网站中所有研究分析报告、行情分析视频等全 部或部分材料、内容。对可能因互联网软硬件设备故障或失灵、或因不可抗力造成的全部或部分信息中断、延迟、遗漏、误导或造成资料传输 成交金额 沪深两市 沪深300 上证50 中小板 创业板 最新值 21055.35 4503.40 1220.16 4380.66 5925.68 环比变化 -1439.38 -724.17 -137.06 -73.86 -467.24 主力升贴水 IF IH IC 基差 -0.30 6.19 -15.64 幅度 -0.01% 0.20% -0.19% 注：沪深300、上证50、 ...

交易咨询业务资格：证监许可【2012】1091号 棉花早报——2026年2月11日 大越期货投资咨询部 王明伟 从业资格证号：F0283029 投资咨询证号： Z0010442 联系方式：0575-85226759 重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投资建议。 我司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投资需谨慎。 CONTENTS 目 录 1 前日回顾 2 每日提示 3 4 5 今日关注 基本面数据 持仓数据 棉花： 1、基本面：2026新疆棉种植面积调控，预计可能减幅超10%。USDA12月报：25/26年度产量 2608.1万吨，消费2582.3万吨，期末库存1654.1万吨。海关：12月纺织品服装出口259.9亿美 元，同比下降7.4%。12月份我国棉花进口18万吨，同比增加31%；棉纱进口17万吨，同比增加 13.33%。农村部12月25/26年度：产量670万吨，进口140万吨，消费760万吨，期末库存835万 吨。中性。 6：预期：棉花主力05背靠14500横盘整理，短期14500附近支撑较强。春节长假即将到来， ...

交易咨询业务资格：证监许可【2012】1091号 沪镍&不锈钢早报—2026年2月11日 大越期货投资咨询部 祝森林 从业资：F3023048 投资咨询证：Z0013626 联系方式：0575-85226759 6、结论：沪镍2603：节前控制仓位，日内交易为主。 2、基差：现货138950，基差5600，偏多 3、库存：LME库存285750，+678，上交所仓单52039，+318，偏空 4、盘面：收盘价收于20均线以下，20均线向下，偏空 5、主力持仓：主力持仓净多，多增，偏多 不锈钢 每日观点 1、基本面：现货不锈钢价格持平，短期镍矿价格上涨，看涨情绪浓重，镍铁价格出现回落，成本线下移， 不锈钢库存持续回升。中性 2、基差：不锈钢平均价格14987.5，基差1162.5，偏多 3、库存：期货仓单：54070，+607，中性 4、盘面：收盘价在20均线以下，20均线向上，中性 5、结论：不锈钢2603：节前控制仓位，日内交易为主。 重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投资建议。 我司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投 ...