投资咨询业务资格：证监许可【2012】669号 国内商品期货多数上涨，新能源材料涨幅居前 ——中信期货晨报20251126 仲鼎 从业资格号F03107932 投资咨询号Z0021450 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。 | 板块 | 品种 | 现代 | | | 日度涨跌幅 周度涨跌幅 月度涨跌幅 季度涨跌幅 今年涨跌幅 | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 股指 | 沪深300期货 | 4473 | 0.85% | 101% | -3.42% | -3.14% | 14.08% | | | 上证50期货 | 2959.2 | 0.50% | Q 43% | -1 88% | -1 00% | 10.50% | | | 中证500期货 | 6900 | THOS | Task | -4 33 | -5.35% | 21.20% | | | 中证1000期货 | 7172 | 1 0 ...

投资咨询业务资格：证监许可【2012】669号 国内商品期货涨跌参半，非金属建材涨幅居前 ——中信期货晨报20251125 中信期货研究所 仲鼎 从业资格号F03107932 投资咨询号Z0021450 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。 | 板块 | 品种 | 现代 | | | 日度涨跌幅 周度涨跌幅 月度涨跌幅 季度涨跌幅 | | 今年涨跌幅 | | --- | --- | --- | --- | --- | --- | --- | --- | | 股指 | 沪深300期货 | 4435.2 | 0.15% | 0.15% | -4.24% | -3.96% | 13.11% | | | 上证50期货 | 2944.4 | -0.07 | -0.07% | -2.35% | -1.49% | d ack | | | 中证500期货 | 6827.6 | 0.85% | 0.85% | -5.735 | -6.25 | 19.93% | | | 中证1000期 ...

（来源：广金期货） 来源：广金期货 广州金控期货 商品日报 2025.11.24 1 热力图（当日收盘价涨跌幅—成交量） | 数据来源：Wind，广金期货 | | --- | 2 热力图（当日收盘价涨跌幅—成交额） | 图模型 | 最全集 | trê | 加度的 | 11 | 른 | Part | 79 | 1 300 | | | | | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Nets | 周边 | LC2601 | CUNSU | 12 | CH401 | P/601 | 86083 | 90480 | IC2601 | 8 | 8-4884 | 5778 | 76 | -459% | DAVE | 44739 | | | | | | | | | | | | 17 ...

欢迎加入交易理想国知识星球 文 | 交易理想国知识星球 编辑 | 杨兰 审核 | 浦电路交易员 根据《中国期货市场品种属性研究报告（2025-11-24）》，以下是整理出的核心关键内容摘要，包括关键多空品种、量仓变化、交易机会、风险提示与 核心逻辑： | RollSharpeAbs Px Main | 2025/11/23 | Curve + Status = Px CurveLongShort | Market Status 750D Px. M Percentile 750D Ctgo Percentile 750D Ann.Roll Rtn. | Vol/Roll | Dvol | FastMA | SlowMA | Up/DownRatio MaxDD ResPx MaxDU ResPx | Cigo | Ctgoli | CtgoliAnn Facto | 上证50期货 IH.CFE | 94% | 0.76N | 0.19 | 946.40 | 2.993.36 | 3.027.31 | 147,70% | -7.60 | 0.26% | Maybe Curve Long | Short | 27 ...

周度报告——风险管理 期货技术分析周报：2025 年第 48 周 报告日期： 2025 年 11 月 23 日 ★商品期货 期货市场各板块整体承压，看跌情绪占据主导。有色板块中， 仅多晶硅呈现看涨信号，铜、铅、镍等多数品种看跌，其中 铝、碳酸锂、氧化铝为强烈看跌；碳酸锂主力合约虽周内震 荡上涨，但周五大幅回调并出现"倒锤子线"弱势反转形 态，预计下周将面临回调风险，需关注 89000-90000 元/吨附 近波动。黑色及航运板块多数品种震荡，但焦煤、焦炭及欧 线集运看跌；螺纹钢主力价格虽周初上涨，但随后连续回落， 目前运行于布林带中轨下方，短期面临回调压力，支撑区间 看 2950-3000 元/吨。能化板块中，低硫燃料油、沥青、LPG 及纯苯、塑料、尿素等多个化工品显示看跌或强烈看跌信号； PTA 整体震荡，重心持平，预计下周震荡偏弱，支撑区间在 4380-4430 元/吨。农产品板块以震荡为主，其中油菜籽和玉 米淀粉看涨，而棕榈油、豆二、豆粕及鸡蛋看跌；白糖主力 本周价格创新低，但日线显示连续下跌后有一定反弹压力， 上方阻力区间在 5500-5530 元/吨。 ★金融期货 国内股指期货市场整体承压，除中证 ...

广州金控期货 商品日报 2025.11.20 1 热力图（当日收盘价涨跌幅—成交量） （来源：广金期货） 来源：广金期货 | 数据来源：Wind，广金期货 | | --- | 2 热力图（当日收盘价涨跌幅—成交额） | 曼金属 | | | 发展时光 | | | | | 19 | | | 深圳市 | | CD | D | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | 48 | | 타 | | | | | | | | | | | | | | BUNGH | | MASSE | 1494 CABDY | | | @19 | | | | | | | | 75 | | 11240 | | 2014 | 1114 | 第1章 Add 214-201 | | 083601 | No | | | | | TL | | 152512 | | 41.27% | | 0.13% | -2.07% | THERS' | | 8050 | SC2604 | | | | | ...

投资咨询业务资格：证监许可【2012】669号 贵金属迎来反弹，其他商品涨跌互现 ——中信期货晨报20251120 中信期货研究所 仲鼎 从业资格号F03107932 投资咨询号Z0021450 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。 | | | | 20 10 11 1 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 板块 | 品种 | 现价 | 日度涨跌幅 | | 周皮涨跌幅 月度涨跌幅 李度涨跌幅 | | 今年涨跌幅 | | 股指 | 沪深300期货 | 4565.2 | 0.22% | -0.77% | -1.43% | -1.14% | 16.43% | | | 上证50期货 | 3011 | 0.45% | -0.64% | -0.14% | 0.74% | 12.43% | | | 中证500期货 | 7054.8 | -0 35% | FINLEW | -2.59% | -3 ...

Report Summary 1. Report Industry Investment Rating - No information provided 2. Core Viewpoints - The central bank will maintain a moderately loose monetary policy, aiming to keep social financing conditions relatively loose and promote a reasonable recovery of prices [4]. - The stock index is expected to continue its volatile pattern with support at the bottom and pressure on the upside. Short - term market differences are expected to be gradually digested during the index's volatile adjustment, and a new driving force is awaited for the index to rise further [6]. 3. Summary by Related Content 3.1 Macro - Financial Data - **Interest Rates**: DR001 closed at 1.53% with a 1.66bp increase, DR007 at 1.52% with a 0.03bp increase, GC001 at 1.69% with a 35.50bp increase, GC007 at 1.56% with a 5.50bp increase, SHBOR 3M at 1.58% unchanged, LPR 5 - year at 3.50% unchanged, 1 - year treasury at 1.40% with a - 0.10bp change, 5 - year treasury at 1.54% unchanged, 10 - year treasury at 1.80% with a 0.05bp increase, and 10 - year US treasury at 4.13% with a - 1.00bp change [3]. - **Open - Market Operations**: Last week, the central bank conducted 1.122 trillion yuan of reverse repurchase operations, with 495.8 billion yuan of reverse repurchases maturing, resulting in a net injection of 626.2 billion yuan. This week, 1.122 trillion yuan of reverse repurchases will mature, and 12 billion yuan of treasury cash deposits will mature on Thursday [3][4]. 3.2 Stock Index Market - **Index Performance**: The CSI 300 fell 0.65% to 4568, the SSE 50 fell 0.3% to 3003, the CSI 500 fell 1.17% to 7151, and the CSI 1000 fell 1% to 7448. The trading volume of the Shanghai and Shenzhen stock markets was 1.9261 trillion yuan, a slight increase of 15.3 billion yuan from the previous day. Most industry sectors closed lower, with Internet services, cultural media, and education sectors leading the gains, and coal, battery, steel, fertilizer, energy metals, shipping ports, precious metals, and non - ferrous metals sectors leading the losses [5]. - **Futures Contracts**: IF volume increased by 6.6% to 121,863, and its open interest increased by 2.2% to 278,688; IH volume decreased by 4.3% to 54,759, and its open interest decreased by 3.4% to 97,691; IC volume increased by 15% to 134,440, and its open interest increased by 3.3% to 254,019; IM volume increased by 10.4% to 217,767, and its open interest increased by 19% to 362,020 [5]. - **Premium and Discount**: IF's premium and discount rates for the current - month, next - month, current - quarter, and next - quarter contracts were - 3.75%, 3.40%, 2.96%, and 3.43% respectively; IH's were - 2.36%, 2.12%, 0.88%, and 1.07% respectively; IC's were - 3.03%, 11.73%, 10.63%, and 11.05% respectively; IM's were 4.08%, 15.22%, 13.31%, and 12.89% respectively [7].

周度报告——风险管理 根据技术分析，近期商品市场各板块呈现分化格局。贵金属 整体震荡，而有色板块中铅、不锈钢等多品种显示看跌信号， 但碳酸锂逆势周线上涨，稳居 MA60 均线之上，虽在 90000 元/吨关键位面临多头平仓压力，持仓稳定预示趋势未完全 反转，短期预期围绕 MA60 宽幅震荡。技术分析显示黑色系 中铁矿石、焦煤等看跌，但螺纹钢在低位获得支撑后技术指 标显露反弹动能，价格重返 3050-3070 元/吨支撑区间，需关 注其能否有效企稳。能源化工板块技术分析评级内部分化， 原油、短纤等看涨，PTA 虽周线上行但迫近 MA60 与下降通 道上轨双重阻力，上涨动力受限，下周预计震荡。根据农技 术分析，农产品中豆粕强势突破 MA60 均线，技术形态转多， 然而上方卖压仍存，续涨动力待观察。整体市场震荡为主， 趋势性行情不明，投资者需紧盯关键技术与仓位管理。 ★金融期货 根据期货技术指标信号分析，股指期货市场整体承压，上证 50 期货显示看跌信号，而沪深 300、中证 500 及中证 1000 期 货均呈现强烈看跌信号。其中，IC 中证 500 期货周线进入震 荡整理，布林带带宽停止扩张，MACD 柱收缩， ...

1. Report Industry Investment Rating No relevant content provided. 2. Core Views of the Report - In November, the macro environment enters a vacuum period, and major asset classes lack further positive drivers. The market needs to digest previous gains, so major assets may enter a short - term shock period. However, the overall allocation strategy for the fourth quarter remains unchanged, and the macro environment is still favorable for risk assets. It is recommended that investors allocate major asset classes evenly in the fourth quarter, hold long positions in stock indices, non - ferrous metals (copper, lithium carbonate, aluminum, tin), and precious metals, and increase positions appropriately if there is a correction in the fourth quarter [8]. 3. Summary by Sections 2.1 Macro Highlights - **Overseas Macro**: This week, the global macro focus is on changes in US dollar liquidity. Although there is a short - term tightening trend, it is not expected to have a significant impact on major asset prices. There are two factors that may improve US dollar liquidity: marginal easing of monetary policy and the normal release of funds in the TGA account once the US government resumes work [8]. - **Domestic Macro**: In October, China's export volume growth was weaker than expected and the previous value, and the month - on - month performance was also weaker than the seasonal average. However, more positive information was found in the October inflation data. Additionally, there is a possibility that the October consumption data may slightly exceed expectations [8]. 2.2 View Highlights Financial - **Stock Index Futures**: Driven by technology events, the growth style is active. With the congestion of small - cap funds, it is expected to fluctuate and rise [9]. - **Stock Index Options**: The overall market trading volume has slightly declined. With the option market liquidity falling short of expectations, it is expected to fluctuate [9]. - **Treasury Bond Futures**: The bond market continues to be weak. Considering factors such as policy, fundamental recovery, and tariffs, it is expected to fluctuate [9]. Precious Metals - **Gold/Silver**: With the easing of geopolitical and trade tensions, precious metals are in a phased adjustment. Affected by the US fundamentals, Fed's monetary policy, and global equity market trends, it is expected to fluctuate [9]. Shipping - **Container Shipping to Europe**: As the peak season in the third quarter fades, there is pressure on loading and a lack of upward drivers. Pay attention to the rate of freight decline in September, and it is expected to fluctuate [9]. Black Building Materials - **Steel**: In the off - season, demand is under pressure, and the futures price has fallen from a high level. Pay attention to the progress of special bond issuance, steel exports, and molten iron production, and it is expected to fluctuate [9]. - **Iron Ore**: The pressure of inventory accumulation is released in advance, and the supply - demand relationship is expected to improve. Affected by overseas mine production and shipment, domestic molten iron production, weather, port inventory, and policy, it is expected to fluctuate [9]. - **Coke**: Three rounds of price increases have been implemented, and a fourth round is proposed. Pay attention to steel mill production, coking costs, and macro sentiment, and it is expected to fluctuate [9]. Non - ferrous Metals and New Materials - **Copper**: Due to the tight US dollar liquidity, the copper price is in a short - term adjustment. Affected by supply disruptions, domestic policies, Fed's policy, and domestic demand, it is expected to fluctuate [9]. - **Aluminum**: With the linkage between stocks and futures, the aluminum price is expected to fluctuate and rise. However, it is affected by macro risks, supply disruptions, and demand [9]. - **Lithium Carbonate**: The resumption of production is uncertain, and there is a risk of significant price fluctuations. Affected by demand, supply, and new technologies, it is expected to fluctuate [9]. Energy and Chemicals - **Crude Oil**: Supply pressure persists, and geopolitical risks remain. Affected by OPEC+ production policies and the Middle East geopolitical situation, it is expected to fluctuate [11]. - **LPG**: Supply is still in surplus. Pay attention to the cost side, such as crude oil and overseas propane, and it is expected to fluctuate [11]. - **Low - Sulfur Fuel Oil**: With the strength of refined oil products, it may run strongly. Affected by crude oil prices, it is expected to fluctuate and rise [11]. Agriculture - **Pig**: There is a game between supply and demand, and the pig price is expected to fluctuate and fall. Affected by breeding sentiment, epidemics, and policies [11]. - **Natural Rubber**: The futures price rebounds strongly, and its sustainability needs attention. Affected by production area weather, raw material prices, and macro changes, it is expected to fluctuate and fall [11]. - **Cotton**: The price fluctuation range is limited. Affected by demand and inventory, it is expected to fluctuate [11].