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焦作万方涨2.00%,成交额4.93亿元,主力资金净流入2117.44万元
Xin Lang Zheng Quan· 2025-10-13 05:46
10月13日,焦作万方盘中上涨2.00%,截至13:34,报9.16元/股,成交4.93亿元,换手率4.60%,总市值 109.21亿元。 资金流向方面,主力资金净流入2117.44万元,特大单买入7223.94万元,占比14.67%,卖出2105.79万 元,占比4.27%;大单买入9308.20万元,占比18.90%,卖出1.23亿元,占比24.99%。 焦作万方今年以来股价涨45.63%,近5个交易日涨14.36%,近20日涨5.17%,近60日涨13.51%。 今年以来焦作万方已经1次登上龙虎榜,最近一次登上龙虎榜为3月18日。 责任编辑:小浪快报 焦作万方所属申万行业为:有色金属-工业金属-铝。所属概念板块包括:低市盈率、稀土永磁、有色 铝、稀缺资源、中盘等。 截至9月30日,焦作万方股东户数7.06万,较上期减少0.09%;人均流通股16885股,较上期增加0.09%。 2025年1月-6月,焦作万方实现营业收入33.09亿元,同比增长5.34%;归母净利润5.36亿元,同比增长 49.06%。 分红方面,焦作万方A股上市后累计派现17.59亿元。近三年,累计派现4.05亿元。 机构持仓方面,截止 ...
铝产业链周度报告-20251010
Zhong Hang Qi Huo· 2025-10-10 11:42
铝产业链周度报告 范玲 期货从业资格号:F0272984 投资咨询资格号:Z0011970 2025-10-10 中航期货 目录 01 报告摘要 03 数据分析 02 多空焦点 04 后市研判 | 歧, | 好, | 迟 | 方 | 游 | 产 | 美 | 符 | 假 | 期 | 延 | 分 | 外 | 下 | 合PMI | 向 | 面, | 化。 | 预 | 现 | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 海 | 各 | 的 | 大 | 体 | 案, | 况, | 方 | 前 | 表 | 变 | 据 | 较 | 下 | 总 | 此 | 综 | 预 | 应 | 体 | 情 | | | | | | | | | | | 位。 | 绪 | 数 | 生 | ...
华宝期货晨报铝锭-20251010
Hua Bao Qi Huo· 2025-10-10 02:43
晨报 铝锭 成材:重心下移 偏弱运行 铝锭:长假扰动开工 关注库消走势 投资咨询业务资格: 以伊冲突 负责人:赵 毅 从业资格号:F3059924 投资咨询号:Z0002978 电话:010-62688526 从业资格号:F3078638 投资咨询号:Z0018248 电话:010-62688555 从业资格号:F3038114 投资咨询号:Z0014834 电话:010-62688541 从业资格号:F3059529 投资咨询号:Z0018932 电话:010-62688516 从业资格号:F03127144 投资咨询号:Z0020161 电话:021-20857653 成文时间: 逻辑:云贵区域短流程建筑钢材生产企业春节期间停产检修时间大多 在 1 月中下旬,复产时间预计在正月初十一至正月十六左右,停产期间预 计影响建筑钢材总产量 74.1 万吨。安徽省 6 家短流程钢厂,1 家钢厂已 于 1 月 5 日开始停产;其余大部分钢厂均表示将于 1 月中旬左右停产放假, 证监许可【2011】1452 号 逻辑:昨日沪铝偏强运行。宏观美联储周三公布的 9 月会议记录显示, 美联储官员们一致认为美国就业市场面临的风 ...
2025年9月下旬流通领域重要生产资料市场价格变动情况
Guo Jia Tong Ji Ju· 2025-10-10 01:30
中国统计信息服务中心 卓创资讯 据对全国流通领域9大类50种重要生产资料市场价格的监测显示,2025年9月下旬与9月中旬相比,15种 产品价格上涨,31种下降,4种持平。 | 2025年9月下旬流通领域重要生产资料市场价格变动情况 | | --- | | 产品名称 | | 本期价格 | 比上期 | 涨跌幅 | | --- | --- | --- | --- | --- | | | 单位 | (元) | 价格涨跌 | (%) | | | | | (元) | | | 一、黑色金属 | | | | | | 螺纹钢(Φ20mm,HRB400E) | 吨 | 3184.1 | 0.0 | 0.0 | | 线材(Φ8—10mm,HPB300) | 吨 | 3331.3 | 13.7 | 0.4 | | 普通中板(20mm,Q235) | 吨 | 3507.7 | -5.2 | -0.1 | | 热轧普通板卷(4.75—11.5mm,Q235) | 吨 | 3412.4 | -16.4 | -0.5 | | 无缝钢管(219*6,20#) | 吨 | 4141.1 | -2.7 | -0.1 | | 角钢(5#) | 吨 ...
华宝期货晨报铝锭-20251009
Hua Bao Qi Huo· 2025-10-09 03:44
晨报 铝锭 从业资格号:F3038114 投资咨询号:Z0014834 电话:010-62688541 原材料: 冯艳成 从业资格号:F3059529 投资咨询号:Z0018932 电话:010-62688516 从业资格号:F03127144 投资咨询号:Z0020161 电话:021-20857653 2025 年 10 月 9 日 成材:重心下移 偏弱运行 铝锭:宏观情绪提振 铝价偏强运行 投资咨询业务资格: 以伊冲突 负责人:赵 毅 从业资格号:F3059924 投资咨询号:Z0002978 电话:010-62688526 从业资格号:F3078638 投资咨询号:Z0018248 电话:010-62688555 逻辑:云贵区域短流程建筑钢材生产企业春节期间停产检修时间大多 在 1 月中下旬,复产时间预计在正月初十一至正月十六左右,停产期间预 计影响建筑钢材总产量 74.1 万吨。安徽省 6 家短流程钢厂,1 家钢厂已 于 1 月 5 日开始停产;其余大部分钢厂均表示将于 1 月中旬左右停产放假, 证监许可【2011】1452 号 逻辑:假期间外盘有色金属普涨,伦铝偏强运行。宏观美国政府停摆进 入第八 ...
金属牛市进行时 - 稀土金银铜铝锡钴
2025-10-09 02:00
金属牛市进行时 - 稀土金银铜铝锡钴 20251008 您如何看待稀土市场的未来走势? 摘要 伦铜、伦锡、伦铝普涨由共振效应引发,预计持续性强。美国稀土公司 股价大涨,或因政府入股及订单支持。国内稀土市场预计 10 月普涨, 供给端民企停产影响显著,新能源车和风电需求强劲,看好四季度及明 年上半年需求。 印尼严打非法矿山或影响全球 5%锡精矿供应。尽管短期锡价高开低走, 但逢低布局思路不变,预计明年高点可达 35 万元/吨。建议关注锡业股 份、华锡有色等标的,若锡价达 35 万元/吨,协鑫股份市值或达 600 亿 元,华锡有色可达三四百亿元。 刚果金实行配额后,钴价暴涨,远期价格已超 34 万甚至接近 35 万。市 场预期明年钴价高点 40 万元左右,均价 35 万以上。若配额维持 9-10 万吨,将导致供需扭转,长期缺口显现。建议关注华友钴业、洛阳钼业、 腾远钴业及力勤资源。 假期期间,黄金和白银分别上涨 3.6%和 2.5%,黄金价格达到历史性的 4,000 美元每盎司。铜价上涨超过 3%,逼近 2024 年 LME 铜价高点 11,100 美元。 Q&A 请问您对四季度有色金属板块的整体展望是什么? 四 ...
铝锭:金九下游开工改善,警惕长假风险,成材:重心下移偏弱运行
Hua Bao Qi Huo· 2025-09-30 02:41
晨报 铝锭 成材:重心下移 偏弱运行 铝锭:金九下游开工改善 警惕长假风险 负责人:赵 毅 从业资格号:F3059924 投资咨询号:Z0002978 电话:010-62688526 从业资格号:F3078638 投资咨询号:Z0018248 电话:010-62688555 从业资格号:F3038114 投资咨询号:Z0014834 电话:010-62688541 从业资格号:F3059529 投资咨询号:Z0018932 电话:010-62688516 从业资格号:F03127144 投资咨询号:Z0020161 电话:021-20857653 2025 年 9 月 30 日 后期关注/风险因素:关注宏观预期变动、地缘政治危机发展、矿端复产情 况、消费释放情况。 重要声明: 本报告中的信息均来源于公开的资料,我公司对信息的准确性及完整性不作任何保证,也不保证包含的信 息和建议不会发生变更,我们已力求报告内容的客观、公正,但文中观点、结论和建议仅供参考,投资者据此 做出的任何投资决策与本公司和作者无关。 地址:北京市海淀区海淀大街 8 号 19 层 ☎ 400-700-6700 www.zgfcc.com 逻 ...
2025年4季度有色金属分析报告:有色金属季报四季度旺季支撑价格成色决定高度
Hua Bao Qi Huo· 2025-09-29 13:57
Report Industry Investment Rating No relevant information provided. Core View of the Report The report analyzes the macro - economic situation at home and abroad, as well as the market conditions of aluminum, zinc, and tin in the fourth quarter of 2025. Overseas, the US economic growth momentum is weakening, and the eurozone shows a mild recovery. Domestically, the economy is in a state of fluctuating recovery, and domestic demand needs policy support. In the non - ferrous metals market, the prices of different metals are affected by various factors such as supply, demand, and macro - policies, and each has different price trends and investment outlooks [4][55][56]. Summary by Relevant Catalogs Macro: Fed Restarts Preventive Rate Cut, Domestic Economy Awaits Policy Drive Market Operation Logic - **US**: Economic growth momentum is weakening, with the manufacturing sector in a contraction zone and the service sector being the main economic support. The labor market is deteriorating, inflation is showing a slight rebound, and the Fed cut interest rates in September. The market expects a high probability of a rate cut in October, but future policies will depend on employment and inflation data [19][20][21]. - **Eurozone**: The manufacturing sector is under pressure again, while the service sector drives a mild economic recovery. Inflation is stable, and the ECB kept interest rates unchanged in September [28][29][30]. - **Domestic**: Investment growth momentum is insufficient, with infrastructure, manufacturing, and real estate investment facing challenges. Consumption shows weakening recovery momentum, but may pick up in the fourth quarter. Exports and imports maintain stable growth, and prices are expected to gradually recover [35][40][45]. Market Trend Judgment - Overseas: The US economic growth momentum is weakening, and the eurozone is in a mild recovery. The Fed may cut interest rates in October, and the ECB will be cautious about further rate cuts [55]. - Domestic: Investment growth momentum is declining, but infrastructure and manufacturing investment may stabilize and grow in the fourth quarter. Consumption may recover mildly, and exports and imports are expected to continue to grow. Prices are expected to gradually recover [56]. Later Concerns/Risk Factors Overseas economic trends, monetary policy changes, US tariff policy evolution, overseas geopolitical risks, domestic incremental policies, and terminal demand conditions [59]. Aluminum: Peak Season Drives Inventory Reduction, Focus on the Strength of "Silver October" Market Operation Logic - **Price Trend in Q3 2025**: The price of Shanghai aluminum fluctuated. In July, it first rose and then fell; in August, it remained high; in September, it rose first and then fell [61][62]. - **Cost Side**: Bauxite prices may show a weak - oscillation trend in the short term, and alumina prices are expected to continue to decline. The cost of electrolytic aluminum is expected to decline slightly [66][72][76]. - **Electrolytic Aluminum**: The operating capacity remains high, and the import loss is expanding [78][80]. - **Scrap Aluminum**: The price difference between refined and scrap aluminum has narrowed, and the industry is greatly affected by policies [82]. - **Demand Side**: The processing end shows a phased recovery, and the terminal demand is differentiated. The real estate market is still in adjustment, while the power, automotive, and other industries support demand [87][90][94]. - **Supply - Demand Balance and Inventory**: Inventory has decreased, providing support for aluminum prices [96]. Market Trend Judgment In the short term, aluminum prices are strongly supported at high levels during the peak season, but there is room for adjustment after the peak season. The price range in the fourth quarter is expected to be between 19,800 - 20,000 for support and 21,000 - 21,500 for resistance [100]. Later Concerns/Risk Factors Macro - policy games, overseas event disturbances, mine resumption and shipping conditions, inventory trends, and actual terminal demand performance [102]. Zinc Ingot: High Supply Meets Structural Demand, Inventory Pressure Needs to be Verified in Peak Season Market Operation Logic - **Price Trend in Q3 2025**: Zinc prices first rose and then fell. In the off - season, supply pressure was high, and demand was weak. In September, prices were supported by the peak season and interest - rate cut expectations but then adjusted [104][106][107]. - **Zinc Concentrate**: New production capacity is being released, and the resource shortage is gradually easing. Domestic and foreign processing fees are expected to diverge, and the import loss is expanding [108][112][116]. Market Trend Judgment In October, zinc prices are expected to continue to fluctuate, with a reference range of 21,500 - 22,500 yuan/ton [8]. Later Concerns/Risk Factors No specific information provided in the given text. Tin Ingot: Probability of Overseas Supply Increase, Risk of Price Center Decline Market Operation Logic - **Supply Side**: The resumption of production in Myanmar's Wa State is the key factor. The delay in mining progress has affected smelter operations, and processing fees are at a low level [9]. - **Demand Side**: The semiconductor, automotive, and home appliance industries support tin demand, but the growth rate may slow down in the fourth quarter [9]. Market Trend Judgment Tin prices may decline from high - level oscillations in the fourth quarter, mainly depending on the increase in production in Myanmar's Wa State [9]. Later Concerns/Risk Factors No specific information provided in the given text.
海外现货走弱,国内边际去库
Wu Kuang Qi Huo· 2025-09-29 05:09
1. Report Industry Investment Rating No information provided in the content. 2. Core View of the Report - This week, aluminum prices fluctuated within a narrow range, with the main contract of Shanghai Aluminum slightly declining throughout the week, and the spot market showing marginal improvement. Looking ahead, the marginal deterioration of the trade situation will suppress market sentiment, while the high probability of interest rate cuts provides emotional support. From an industrial perspective, the operating capacity of electrolytic aluminum is stable, with limited marginal increase in supply. On the demand side, the operating rate of downstream processing leading enterprises has increased, and the continuous rise in the processing fee of aluminum rods is conducive to the reduction of aluminum ingot inventory, providing strong support for the downside of aluminum prices. This week, the operating range reference for the main contract of Shanghai Aluminum is 20,500 - 20,900 yuan/ton; the operating range reference for LME Aluminum 3M is 2,610 - 2,700 US dollars/ton [12][13] 3. Summary According to Relevant Catalogs 3.1 Week - on - Week Assessment and Strategy Recommendation - **Supply Side**: As of the end of August, the operating capacity of domestic electrolytic aluminum was about 44 million tons, with a slight increase due to the commissioning of some electrolytic aluminum replacement projects, and the output was 3.733 million tons, a year - on - year increase of 1.22%. In September, the operating capacity of electrolytic aluminum is expected to continue to increase slightly. This week, the proportion of molten aluminum of domestic electrolytic aluminum enterprises rose to 76.4% [12] - **Inventory & Spot**: The domestic social inventory of aluminum ingots was 614,000 tons, a decrease of 23,000 tons from last week; the bonded area inventory was 89,000 tons, a decrease of 2,000 tons from last week; the aluminum rod inventory was 130,000 tons, a week - on - week decrease of 14,000 tons. The LME aluminum inventory was 518,000 tons, a week - on - week increase, and it was at a low level in the same period of previous years. The spot premium of domestic East China aluminum ingots over futures was 5 yuan/ton, and the LME market Cash/3M was at a discount of 4.7 US dollars/ton [12] - **Imports and Exports**: In August 2025, China's exports of unwrought aluminum and aluminum products were 534,000 tons, a month - on - month decrease of 1%, remaining at a relatively high level this year. This week, the loss of aluminum ingot spot imports narrowed month - on - month [12] - **Demand Side**: According to SMM research, the operating rate of domestic leading aluminum downstream processing enterprises increased by 0.8% to 63.0% compared with last week. The operating rate of the aluminum plate and strip sample enterprises increased by 0.8% to 69.0% this week, the aluminum cable and wire increased by 1.8% to 67%, the aluminum profile operating rate remained flat at 54.6%, and the aluminum foil operating rate increased by 0.7% to 72.6% [12] 3.2 Futures and Spot Market - **Futures Market**: Shanghai Aluminum fell 0.05% to 20,745 yuan/ton this week (as of Friday afternoon's close); LME Aluminum fell 1.08% to 2,649 US dollars/ton [23] - **Term Spread**: The spread between the first - and third - month contracts of Shanghai Aluminum was at par [28] - **Spot Basis**: The East China and Central China regions turned to premiums, while the discount in the South China region widened. The Central China spot strengthened relatively [34][35] - **LME Premium and Discount**: LME Aluminum Cash/3M turned to a discount [42] 3.3 Profit and Inventory - **Smelting Profit**: The smelting profit of primary aluminum increased compared with last week and was at a historical high [45] - **Electrolytic Aluminum Inventory**: According to MYSTELL data, the inventory on Thursday was 614,000 tons, a decrease of 23,000 tons from Monday and 22,000 tons from last Thursday, indicating inventory reduction. According to SMM statistics, the bonded area inventory this week was 89,000 tons, a decrease of 2,000 tons from last week [50] - **Aluminum Rod Inventory**: According to MYSTELL data, the total inventory of aluminum rods on Thursday was 130,000 tons, a decrease of 7,000 tons from Monday and 14,000 tons from last Thursday [55] - **LME Inventory**: The global LME aluminum inventory was 518,000 tons, an increase of 4,000 tons from last week, still at a low level in the same period of previous years. In August, the proportion of aluminum from India in the LME aluminum ingot inventory increased, significantly squeezing and exceeding the proportion of Russian aluminum [60][64] 3.4 Cost Side - **Bauxite Price**: The bauxite price in Henan, China, decreased by 15 yuan/ton compared with last week [71] - **Alumina Price**: The domestic alumina price decreased by 38 yuan/ton compared with last week, and the import price decreased by 2 US dollars/ton [74] - **Electrolytic Aluminum Smelting Cost**: The anode price remained flat, and the thermal coal price increased slightly compared with last week [76] 3.5 Supply Side - **Alumina**: In August, the monthly output of alumina was 7.738 million tons, an increase of 88,000 tons compared with July, a year - on - year increase of 7.16% [83] - **Electrolytic Aluminum**: As of the end of August, the operating capacity of domestic electrolytic aluminum was about 44 million tons, with a slight increase due to the commissioning of some electrolytic aluminum replacement projects, and the output was 3.733 million tons, a year - on - year increase of 1.22%. In September, the operating capacity of electrolytic aluminum is expected to continue to increase slightly [86] - **Molten Aluminum Ratio**: The aluminum rod processing fee continued to rise this week. The domestic molten aluminum ratio increased by 1.3% in August, and the electrolytic aluminum ingot casting volume decreased by 10.4% year - on - year and 4.68% month - on - month to about 931,000 tons. This week, the proportion of molten aluminum of domestic electrolytic aluminum enterprises rose to 76.4% [89] - **Provincial Output of Electrolytic Aluminum**: The output of each province in August was basically the same as that in July, among which Shandong's output decreased by 18,700 tons and Yunnan's increased by 28,000 tons [94] 3.6 Demand Side - **Aluminum Product Output**: In August, China's aluminum product output was 5.548 million tons, a year - on - year decrease of 4.2%; the cumulative output from January to August was 43.79 million tons, flat year - on - year. As of September 22, the daily outbound volume of aluminum ingots was 130,000 tons, a month - on - month increase [98] - **Downstream Operating Rate**: In August, the operating rate of aluminum profiles declined month - on - month, the operating rate of aluminum plates, strips and foils rebounded, the operating rate of primary aluminum alloy ingots continued to decline month - on - month, the operating rate of aluminum rods rebounded month - on - month, and the operating rate of recycled aluminum alloy ingots was weak. This week, the price difference between aluminum ingots and aluminum alloys narrowed by 45 yuan/ton to 278 yuan/ton [105][108][111] - **Terminal Demand**: The production schedules of the three major white - goods released by Industry Online show that in October 2025, the production schedule of household air conditioners was 11.53 million units, a decrease of 18.0% compared with the actual output in the same period last year, with the decline widening; the production schedule of refrigerators was 8.63 million units, a decrease of 5.8% compared with the actual output in the same period last year, with the decline slightly narrowing; the production schedule of washing machines was 9.08 million units, a slight decrease of 1.6% compared with the actual output in the same period last year. The current real estate data is also weak, the automobile production and sales are acceptable, and the production schedule of photovoltaic modules in September is expected to rebound slightly [115] 3.7 Imports and Exports - **Primary Aluminum Imports**: In August 2025, China's primary aluminum imports were 217,000 tons, a month - on - month decrease of 12.3%, a year - on - year increase of 33.1%. The cumulative imports from January to August were 1.714 million tons, a year - on - year increase of 13.3%. Recently, the loss of aluminum ingot spot imports has narrowed [120] - **Aluminum Ingot Import Source**: In July, aluminum ingot imports mainly came from Russia, Indonesia, India, Australia, Malaysia, etc. Among them, the import volume from Russia was 190,800 tons, accounting for 77% [124] - **Aluminum Product Exports**: In August 2025, China's exports of unwrought aluminum and aluminum products were 534,000 tons, a month - on - month decrease of 1%; the cumulative exports from January to August were 4 million tons, a year - on - year decrease of 8.2% [127] - **Recycled Aluminum Imports**: In August 2025, China's recycled aluminum imports were 173,000 tons, an increase of 12,000 tons month - on - month, a year - on - year increase of 25.3%. The imports from January to August were 1.345 million tons, a year - on - year increase of 10.3% [127] - **Bauxite Imports**: In August 2025, China's bauxite imports were 18.289 million tons, with the imported ore accounting for 75.70%. The cumulative bauxite imports from January to August were 141.49 million tons [130] - **Alumina Exports**: In August 2025, China's alumina exports were 181,000 tons, a month - on - month decrease of 21.3%, a year - on - year increase of 26.0%. The cumulative alumina exports from January to August were 1.753 million tons [130]
华宝期货晨报铝锭-20250929
Hua Bao Qi Huo· 2025-09-29 02:38
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