热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 2026年1月6日，国内期货主力合约大面积飘红，碳酸锂涨停，沪银涨超7%，铂涨超6%，钯涨超5%，沪 锡、沪铜、国际铜、沪镍涨超4%，PVC、沪铝、甲醇、苹果涨超3%，硅铁、双胶纸、沪锌、铝合金、 菜籽涨超2%。跌幅方面，胶合板跌超1%，焦炭、原木小幅下跌。 | 序号 | 言约名称 | 最新 | 现手 | 开机 | 卖价 | 深幅8+ | And | 英量 | 同型 | 薄膜 | 特色 | 日增仓 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 碳酸锂2605 M | 137940 | 1 | 137940 | | 8.99% | 6953 | - | 304224 11380 | | 534996 | 19704 | | 2 | 护银2604 m | 19452 | 19 | 19450 | 19452 | 7.06% | 166 | 3 | 1929939 1283 | | 277142 | 38261 | | 3 ...

| 序号 | 合约名称 | 最新 | 现手 | 买价 | 英价 | 784887 | 本書 | 英国 | 同体 | 湯時 | 持色量 | 日增仓 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | per Secon w | 132600 | 5063 | 132580 | 132600 | 4.77% | 200 | 7 | 5063 | 6040 | 514182 | -1110 | | 2 | 268560d in | 18670 | 1349 | 18670 | 18675 | 2.76% | 11 | 1 | 1044511 | 501 | 262308 | 23427 | | 3 | 4E2606 in | 461.00 | 188 | 460.30 | 461.00 | 2.73% | 2 | 1 | | 188 12.25 | 13418 | -155 | | पं | 在线SeOS in | 24170 | 117 | 24165 | 24170 | 2.59% | 1 ...

热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 2026年1月5日，国内期货主力合约涨跌不一，钯涨超8%，碳酸锂涨超7%，铂涨超6%，铝合金、苹果涨 超4%，沪铝、沥青、国际铜涨超3%，沪铜、沪锡、多晶硅、沪锌涨超2%。跌幅方面，烧碱、SC原 油、焦煤跌超3%，纯碱、焦炭、乙二醇、低硫燃料油跌超2%。 | 명 | 出好名称 | 最新 | 现手 | 天和 | 李川 | 法指示十 | 式器 | 交通 | 成交量 | 图片 | 持仓量 | 日増仓 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | ਹ | 4 2606 M | 452.85 | 3 | 453.00 | 453.05 | 8.88% | J | 1 | 32771 36.95 | | 13573 | -832 | | 2 | 明确保持2606 N | 129980 | 6 | 129980 | 130000 | 7.74% | 35 | 90 | 343623 9340 | | 515290 | 25096 | | ...

每经AI快讯，1月5日，国内期货主力合约涨跌不一，钯涨超9%，铂涨超6%，碳酸锂涨超5%，铝 合金涨超4%，沥青、沪铝涨超3%，沪锌、苹果、沪锡、国际铜、沪铜涨超2%。跌幅方面，烧碱跌超 3%，SC原油跌超2%，焦炭、乙二醇、硅铁、纯苯、低硫燃料油、棕榈油跌超1%。 每日经济新闻 （责任编辑：张晓波 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com ...

热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 2026年1月5日，早盘开盘，国内期货主力合约涨多跌少，钯涨超12%，铂涨超11%，沥青涨超5%，碳酸 锂涨超3%，多晶硅、沪铝、沪镍、铝合金涨超1%。跌幅方面，烧碱、低硫燃料油、菜粕跌超1%。 | 序号 | 合约名称 | 最新 | 现于 | 天价 | 委价 | 深圳国际十 | 无量 | 新 | 成交量 | 利用 | 持命量 | 日增仓 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | ਜ | 20208 M | 467.00 | 120 | 466.00 | 467.00 | 12.29% | 2 | ব | | 120 51.10 | 14381 | -24 | | 2 | # 3208 w | 612.00 | 615 | 612.00 | 612.25 | 11.60% | 7 | 5 | | 615 63.60 | 33185 | -81 | | 3 | ...

| 序号 | 合约名称 | 最新 | 现手 | 26.0 | 荣价 | 漆幅31 | 天堂 | 中国 | 成交量 | 深层 | 持位量 | 日常仓 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 护照2602 M | 132850 | 8 | 132860 | 132890 | 2.44% | J | 5 | 1141519 | 3170 | 132795 | -16829 | | 2 | 沪铝2602 M | 22925 | 3 | 22925 | 22930 | 2.25% | 11 | 35 | 387574 | 505 | 256373 | -11334 | | 3 | 铝合金2603 M | 21855 | 1 | 21855 | 21860 | 1.75% | 2 | 3 | 7304 | 375 | 16784 | a18 | | 4 | 氧化铝2605 M | 2778 | 00 | 2777 | 2779 | 1.42% | 71 | 33 | 742567 | 3 ...

Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report The report offers a comprehensive analysis of various futures markets, including financial derivatives, precious metals, shipping indices, non - ferrous metals, black metals, agricultural products, and energy chemicals. It details the current market situation, influencing factors, and future outlooks for each category, and provides corresponding trading strategies. Summary by Directory Daily Selections - **Copper**: High copper prices have suppressed terminal demand, leading to significant spot discounts and inventory accumulation. Upward drivers include further deterioration of overseas inventory structure and improved interest - rate cut expectations; downward drivers are weak demand. Suggest a light - position holding of a protective put option portfolio [2]. - **PP**: The basis weakens, and trading improves. Pay attention to the expansion of PDH profits [3]. - **Coking Coal**: Spot coal prices vary, and the upside of the futures price is limited. Switch to short - selling on rallies [3]. - **Soybean Meal**: South American harvest expectations suppress prices, but cost supports the downside. Concerns about customs policies affect domestic supply. Be cautious in short - term operations [4]. - **Silver**: Supply tightness and capital drive prices to maintain a strong - side oscillation. Hold long positions, and reduce or lock positions before the Spring Festival [5]. Financial Derivatives Stock Index Futures - **Market Performance**: A - share indices rise, and the basis of the four major stock index futures contracts is repaired. The short - term negative factors are exhausted, and the index rebounds [7][8][9]. - **News**: Beijing eases housing purchase restrictions, and the US raises IPO liquidity thresholds [8][9]. - **Funding**: A - share trading volume is stable, and the central bank conducts net injections [9]. - **Operation Suggestion**: Try a bull - spread strategy on the CSI 300 index [9]. Treasury Bond Futures - **Market Performance**: Treasury bond futures decline, and short - term bonds are relatively strong [10]. - **Funding**: The central bank's reverse - repurchase operations result in net injections, and the funding rate is seasonally up but controllable [10]. - **Operation Suggestion**: Consider going long on the T contract on pullbacks and participate in the 2603 contract cash - and - carry arbitrage and basis - widening strategies [12]. Precious Metals - **Market Review**: Overseas markets are closed for holidays. Some precious metals experience price adjustments, with platinum strengthening and palladium once hitting the daily limit down [13][15]. - **Outlook**: The medium - to - long - term price of precious metals has an upward trend, but short - term fluctuations exist. Adopt a long - position strategy on dips [16]. Shipping Index (European Line) - **Index**: SCFIS and SCFI indices show an upward trend [19]. - **Fundamentals**: Container capacity increases, and demand in the eurozone and the US is weak [19]. - **Logic**: The futures contract is in a consolidation phase, with limited drivers, and is expected to oscillate in the short term [19]. Non - Ferrous Metals - **Copper**: High prices suppress demand, and the price is expected to oscillate strongly in the short term. Hold protective put options [24]. - **Alumina**: The market is oversupplied, and the price is expected to oscillate around the cash - cost line [26]. - **Aluminum**: The market is in a state of macro - positive expectations versus fundamental pressure, and the price is expected to oscillate widely [29]. - **Aluminum Alloy**: High costs and weak demand limit price movements, and the price is expected to oscillate in a high - level range [31]. - **Zinc**: TC stabilizes, demand is weak, and the price is expected to oscillate weakly [36]. - **Tin**: Supply is improving, and the price is expected to oscillate at a high level. Adopt a wait - and - see approach [40]. - **Nickel**: The market is affected by expectations of tightened ore supply, and the price is expected to oscillate strongly [42]. - **Stainless Steel**: The market is in a state of strong expectations versus weak reality, and the price is expected to oscillate and adjust [46]. - **Lithium Carbonate**: The market is in a state of high - level oscillation, with strong capital sentiment. The price is expected to oscillate widely [50]. - **Polysilicon**: The price is in a high - level oscillation, with demand weakness. Adopt a wait - and - see approach [53]. - **Industrial Silicon**: The price is expected to oscillate at a low level. Pay attention to production - cut implementation [55]. Black Metals - **Steel**: Steel production is cut, and inventory is reduced. The price is expected to oscillate. Consider exiting the 1 - 5 positive spread and looking for opportunities to go long on the 5 - month iron - ore ratio [57][58]. - **Iron Ore**: Supply is at a high level, and demand is weak. The price is expected to oscillate. Adopt a short - term range - trading strategy on the 05 contract [60]. - **Coking Coal**: Supply may decrease, and demand is weak. Switch to short - selling on rallies [66]. - **Coke**: The third price cut is implemented, and the price is expected to decline. Switch to short - selling on rallies [70][71]. - **Silicon Iron**: Supply is reduced, and demand is stable. The price is expected to oscillate in a range [73]. - **Silicon Manganese**: High inventory suppresses price rebounds, and the price is expected to run weakly. Consider short - selling when the price rebounds above the Ningxia spot cost [76]. Agricultural Products - **Soybean Meal and Rapeseed Meal**: South American harvest expectations suppress prices, and customs policies affect domestic supply. Be cautious in short - term operations [79]. - **Pigs**: Seasonal demand supports the market, and the price is expected to oscillate strongly in the short term [81]. - **Corn**: Supply and demand are balanced, and the price is in a stalemate. Pay attention to selling sentiment and policy releases [84]. - **Sugar**: The international market is bearish, and the domestic market may have limited rebounds. Adopt a bearish - on - rebounds strategy [85]. - **Cotton**: US cotton oscillates at the bottom, and domestic cotton prices are expected to rise. The supply pressure is released, and the long - term outlook is optimistic [88]. - **Eggs**: Supply pressure is high but eases marginally. Near - month contracts are expected to oscillate at the bottom [92]. - **Oils**: Palm oil may continue to rise but also faces downward risks. Soybean oil and rapeseed oil have different market situations. Adopt corresponding strategies according to different varieties [93][95][96]. - **Jujubes**: The price rebounds. Pay attention to sales in the distribution areas. Consider selling call options [97]. - **Apples**: The price oscillates. Consider closing long positions [98]. Energy Chemicals - **PX**: Valuation increases, and downstream feedback is negative. The upside is limited. Reduce long positions on rallies and consider long - term low - buying [100]. - **PTA**: Follow PX trends, and the upside is limited. Reduce long positions on rallies and consider long - term low - buying [102]. - **Short - Fiber**: Supply is high, and demand is weak. Follow raw - material fluctuations [104]. - **Bottle Chips**: Supply is expected to increase, and processing fees may be compressed. Adopt the same strategy as PTA and short - sell processing fees on rallies [106]. - **Ethylene Glycol**: Supply is expected to decrease, but the cost support is limited. The price is expected to oscillate. Adopt a 5 - 9 reverse - arbitrage strategy [108]. - **Pure Benzene**: Supply is stable, and demand is weak. The price is expected to oscillate in a range [109]. - **Styrene**: Supply and demand both increase, and the price is expected to oscillate in a range [111]. - **LLDPE**: Supply and demand are weak. Go long on the 2605 contract in the short term [113]. - **PP**: Pay attention to the expansion of PDH profits [3]. - **Methanol**: The market is expected to balance in the first quarter of next year. Pay attention to the contraction of MTO05 [114]. - **Caustic Soda**: Supply and demand are under pressure, and the price is expected to decline [116]. - **PVC**: Supply is expected to increase, and demand is weak. The price is expected to decline after a rebound [117]. - **Soda Ash**: Supply is stable, and demand is weak. Short - sell on rallies [120]. - **Glass**: The price is under pressure. Adopt a wait - and - see approach [120]. - **Natural Rubber**: The price is driven by macro - sentiment, but the fundamentals are weak. Try short - selling around 15700 [122]. - **Synthetic Rubber**: The price is expected to oscillate strongly in the short term. Avoid short - selling the BR2602 contract [124][125].

1. Report Industry Investment Rating - No relevant information provided in the report. 2. Core Viewpoints of the Report - The aluminum market is influenced by a combination of factors including macro - economic conditions, supply and demand dynamics, and cost factors. The overall trend of aluminum prices may be affected by the balance of these factors, with potential for high - level fluctuations and support from low - level inventories. [5][28] - The 12 - month interest rate cut expectation has increased, and the long - term broad - money cycle may drive copper and potentially aluminum prices upward. Domestic economic stability is expected, and more growth - stabilizing policies are awaited. [11][14][16] 3. Summary by Directory 3.1后市研判 (Outlook) - Pay attention to the changes in macro sentiment and the position of aluminum prices. [5][6] 3.2行情回顾 (Market Review) - In November, the futures prices of alumina, electrolytic aluminum, and aluminum alloy showed different trends. Alumina futures prices continued to be weak, dropping to a minimum of 2,701 yuan/ton. Electrolytic aluminum and aluminum alloy futures prices first rose and then fell, reaching a maximum of 22,160 yuan/ton and 21,390 yuan/ton respectively. [7][8] 3.3宏观面 (Macroeconomic Situation) 3.3.1 International Situation - The US economic data shows a complex situation. The ISM manufacturing PMI has been in contraction for eight consecutive months in October, while the ISM services PMI reached an eight - month high. The labor market shows signs of slowdown, and inflation has picked up. The market's expectation of an interest rate cut in December has increased to 75%. [14] 3.3.2 Domestic Situation - The domestic economy is running smoothly, with a continued supply - tight pattern in the aluminum market. The government is expected to introduce more growth - stabilizing policies. [16][18] 3.4基本面 (Fundamentals) 3.4.1 Supply Side - **Aluminum Bauxite**: In October, China's domestic aluminum bauxite production decreased, with a continuous decline for three months. Although the supply pressure in Henan has eased, the supply - tight pattern in the country continues. Overseas, the supply of imported aluminum bauxite is expected to increase in November. [19][22] - **Alumina**: In October, China's metallurgical - grade alumina production increased, but the daily average production decreased slightly. The overall operating capacity is still at a high level, but the profit has been compressed, and the price is expected to fluctuate at a low level. [27] - **Primary Aluminum (Electrolytic Aluminum)**: In October, China's primary aluminum production increased slightly year - on - year. The operating capacity remained high and stable, but the increase was limited due to energy consumption indicators and capacity replacement policies. Overseas capacity expansion has fallen short of expectations. [28][31] 3.4.2 Demand Side - **Aluminum Processing Enterprises**: High aluminum prices have put pressure on the start - up of aluminum processing enterprises. The overall start - up rate is 62.0%, with different trends in different product segments. [34] - **Real Estate Market**: The Chinese real estate market is still in the adjustment period, which has suppressed the demand for aluminum in the real estate sector. [36][37] - **New Energy Sector**: The new energy sector continues to be highly prosperous. The production and sales of new energy vehicles have increased significantly, and the new energy power generation industry (photovoltaic and wind power) has also maintained high growth, driving the demand for aluminum. [39][41] - **Home Appliance Market**: The home appliance market is under pressure, with the output of most home appliances showing a downward trend in October. [42][43] 3.4.3 Inventory - **Exchange Inventories**: The LME aluminum inventory has increased significantly, and the SHFE aluminum inventory is at a relatively low level. [46] - **Social Inventories**: As of November 24, the five - location electrolytic aluminum social inventory was 61.2 tons, which continued to be at a low level and supported the aluminum price. [49] 3.4.4 Other Factors - **Copper - Aluminum Ratio**: The copper - aluminum ratio has exceeded 4.0, which is beneficial for aluminum to replace copper, and the aluminum price may have an upward trend. [51] - **Recycled Aluminum Alloy**: In November, the start - up rate of the recycled aluminum alloy industry remained stable. In October, the import of unforged aluminum alloy decreased significantly, while the export increased. The price of recycled aluminum alloy in the spot market has fallen, and the social inventory has increased slightly. [54][55][58]

Report Summary 1. Report Industry Investment Rating No industry investment rating information is provided in the report. 2. Core Viewpoints of the Report - The easing of Sino - US trade concerns and positive macro - expectations have led to a significant strengthening of base metals. In the short and medium term, supply - side disturbances and improved macro - expectations are the main drivers. Copper leads the rise of base metals, and attention can be paid to the opportunity of aluminum ingot price catch - up. In the long term, there are still expectations of potential incremental stimulus policies in China, and supply disturbances in copper, aluminum, and tin persist, with expectations of tightening supply - demand, so the prices of copper, aluminum, and tin are expected to rise [2]. 3. Summary by Relevant Catalogs 3.1行情观点 - **Copper**: The restart of Sino - US trade negotiations and the release of the Fourth Plenary Session communiqué have improved market sentiment. Supply disturbances continue to increase, with reduced copper ore supply and higher scrap copper recycling costs. Although it is the peak demand season, high prices have curbed demand. Overall, copper prices are expected to be volatile and bullish [8][9]. - **Alumina**: There are still fundamental pressures, but the valuation has entered a low - level range. The price is expected to fluctuate. The spot price has shown some declines in different regions [9][10]. - **Aluminum**: The domestic and overseas macro - environment is positive. The domestic replacement capacity is being put into production, and there are marginal disturbances in overseas supply. The traditional peak season is ending, and terminal demand is stable. With the copper - aluminum ratio above 4.0, the short - term price is expected to be volatile and bullish, and the medium - term price center may rise [12][13]. - **Aluminum Alloy**: The cost support is strong due to the tight supply of scrap aluminum. There are small - scale production cuts on the supply side, and demand has marginally improved. The short - term price is expected to remain high and volatile, and the medium - term price is expected to fluctuate [14][15]. - **Zinc**: The macro - environment is optimistic, but the supply is loose in the short term, and the demand is entering the off - season. The short - term price may be volatile at a high level, and there is still room for decline in the long term [18][19]. - **Lead**: There are disturbances in recycled lead supply, and social inventory is at a low level. The current demand is in the peak season, and the supply is slightly less than expected. The price is expected to be volatile and bullish [20][21]. - **Nickel**: LME nickel inventory has exceeded 250,000 tons. The market sentiment dominates the market, and the industrial fundamentals are weakening marginally. The price is expected to be widely volatile in the short term [22][24]. - **Stainless Steel**: The stainless - steel futures warehouse receipts are decreasing. Nickel - iron prices are weakening, and the "Golden September and Silver October" demand sustainability needs attention. The short - term price is expected to fluctuate within a range [25][26]. - **Tin**: Supply constraints are strengthening. In Wa State, production increase may be delayed, and in Indonesia, refined tin supply is expected to tighten. Although the inventory has started to accumulate slightly, the price is expected to be volatile and bullish [26][27]. 3.2行情监测 - **Commodity Index**: On October 27, 2025, the comprehensive index, special index, and PPI commodity index of CITIC Futures all showed increases. The industrial products index had the highest increase of 0.95% [152]. - **Sector Index**: The non - ferrous metals index on October 27, 2025, had a daily increase of 0.55%, a 5 - day increase of 2.41%, a 1 - month increase of 5.38%, and a year - to - date increase of 8.71% [153].

1. Report Industry Investment Rating - No specific industry - wide investment rating is provided in the report. 2. Core Viewpoints of the Report - The market shows significant differentiation across various sectors. The non - ferrous and precious metals sector has a mixed situation, with precious metals showing callback risks and some non - ferrous metals having bullish signals. The black and shipping sector has some products with bearish signals and others in a volatile state. The energy and chemical sector is generally strong, but also has internal differentiation. The agricultural products sector is also divided, with some products bullish, some volatile, and some bearish [1][2][3][4]. 3. Summary by Directory 3.1. Non - ferrous and Precious Metals Sector - **Technical Indicator Signal Summary**: Precious metals like gold and silver show callback risks, while non - ferrous metals such as cast aluminum alloy, copper, nickel, and stainless steel show bullish signals. Most other non - ferrous metals are in a volatile state. Lithium carbonate LC2601 has been rising this week, with support from the MA60 moving average, but some indicators are overbought [9][10][11]. - **Weekly Pivot Analysis**: The non - ferrous metals sector is generally strong, with prices of some bullish products approaching the resistance level R1, and attention should be paid to R2 and R3. Precious metals like gold and silver have a callback trend, and attention should be paid to the support at S1 and S2 [16]. 3.2. Black and Shipping Sector - **Technical Indicator Signal Summary**: Rebar and iron ore show bearish signals, the European line shows a bearish signal, shipping is mainly in a volatile state, and other products are also volatile [18][19]. - **Weekly Pivot Analysis**: Iron ore is bearish, with prices approaching the key support levels S1 and S2. If there is heavy - volume decline, it may fall to S3. Most other products such as hot - rolled coils, wires, and coking coal are in a volatile state, and the European line shipping is also volatile with intense long - short competition [25]. 3.3. Energy and Chemical Sector - **Technical Indicator Signal Summary**: Energy products such as crude oil, fuel oil, asphalt, and LPG show bullish signals, and low - sulfur fuel oil shows a volatile signal. Chemical products such as PTA, p - xylene, etc. show bullish signals, while methanol, PVC, etc. show bearish signals, and most other products are volatile [29][30][31]. - **Weekly Pivot Analysis**: The energy sector is strong, with prices of some products breaking through the pivot point and approaching R1, and the upside space can reach R2. The chemical sector is internally differentiated, with some products bullish and some bearish, and overall, attention should be paid to price fluctuations around the pivot point [35]. 3.4. Agricultural Products Sector - **Technical Indicator Signal Summary**: Soybean No. 2, soybean meal, soybean oil, cotton yarn, and eggs show bullish signals, rapeseed meal, peanuts, and red dates show bearish signals, and most other products are volatile. Soybean meal M2601 rose slightly this week, and if it breaks through the MA60 moving average with heavy volume, there may be a rebound trend [40][42][45]. - **Weekly Pivot Analysis**: Products with bullish ratings are above the pivot point and testing the R1 resistance. Most other products are in a volatile pattern, and rapeseed meal, peanuts, and red dates are under pressure below the pivot point and testing the S1 support [48].