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上海期货交易所:调整镍等期货交易保证金比例和涨跌停板幅度
Sou Hu Cai Jing· 2025-10-10 11:00
10月10日,上海期货交易所发布关于调整镍等期货交易保证金比例和涨跌停板幅度的通知(以下简 称"通知")。 通知指出,经研究决定,自2025年10月14日(星期二)收盘结算时起,交易保证金比例和涨跌停板幅度 调整如下: 镍、锡期货合约的涨跌停板幅度调整为8%,套保持仓交易保证金比例调整为9%,一般持仓交易保证金 比例调整为10%; 丁二烯橡胶、天然橡胶期货合约的涨跌停板幅度调整为7%,套保持仓交易保证金比例调整为8%,一般 持仓交易保证金比例调整为9%。 如遇《上海期货交易所风险控制管理办法》第十三条规定情况,则在上述交易保证金比例、涨跌停板幅 度基础上调整。 关于交易保证金和涨跌停板的其他事项按《上海期货交易所风险控制管理办法》执行。 ...
上期所:调整镍等期货交易保证金比例和涨跌停板幅度
Zheng Quan Shi Bao Wang· 2025-10-10 08:57
丁二烯橡胶、天然橡胶期货合约的涨跌停板幅度调整为7%,套保持仓交易保证金比例调整为8%,一般 持仓交易保证金比例调整为9%。 如遇《上海期货交易所风险控制管理办法》第十三条规定情况,则在上述交易保证金比例、涨跌停板幅 度基础上调整。 镍、锡期货合约的涨跌停板幅度调整为8%,套保持仓交易保证金比例调整为9%,一般持仓交易保证金 比例调整为10%; 人民财讯10月10日电,上期所发布通知,自2025年10月14日(星期二)收盘结算时起,交易保证金比例和 涨跌停板幅度调整如下: ...
股指期货将震荡整理黄金、白银、铜期货将偏强宽幅震荡螺纹钢、铁矿石、焦煤、玻璃、纯碱、豆油、棕榈油期货将偏强震荡原油、PTA、PVC期货将偏弱震荡
Guo Tai Jun An Qi Huo· 2025-10-10 02:03
陶金峰 期货投资咨询从业资格号:Z0000372 邮箱:taojinfeng@gtht.com 【正文】 【声明】 2025 年 10 月 10 日 股指期货将震荡整理 黄金、白银、铜期货将偏强宽幅震荡 螺纹钢、铁矿石、焦煤、玻璃、纯碱、豆油、棕榈油期货 将偏强震荡 原油、PTA、PVC 期货将偏弱震荡 本报告的观点和信息仅供风险承受能力合适的投资者参考。本报告难以设置访问权限,若给您造成不 便,敬请谅解。若您并非风险承受能力合适的投资者,请勿阅读、订阅或接收任何相关信息。本报告不构 成具体业务或产品的推介,亦不应被视为相应金融衍生品的投资建议。请您根据自身的风险承受能力自行 作出投资决定并自主承担投资风险,不应凭借本内容进行具体操作。 【期货行情前瞻要点】 通过宏观基本面分析和黄金分割线、水平线、日均线等技术面分析,预期今日期货主力合约行情走势大概率如 下: 股指期货将震荡整理:IF2512 阻力位 4730 和 4750 点,支撑位 4689 和 4660 点;IH2512 阻力位 3040 和 3060 点,支撑位 3020 和 3003 点;IC2512 阻力位 7500 和 7550 点,支撑位 7 ...
黄金:继续创新高,白银:冲击50新高
Guo Tai Jun An Qi Huo· 2025-10-10 01:24
2025年10月10日 国泰君安期货商品研究晨报 观点与策略 | 黄金:继续创新高 | 3 | | --- | --- | | 白银:冲击50新高 | 3 | | 铜:美元回升,限制价格上涨 | 5 | | 锌:小幅反弹 | 7 | | 铅:库存增加,限制价格回升 | 9 | | 锡:加速上行 | 10 | | 铝:区间震荡 | 12 | | 氧化铝:偏弱运行 | 12 | | 铸造铝合金:跟随电解铝 | 12 | | 镍:冶炼累库与矿端预期博弈,警惕消息扰动 | 14 | | 不锈钢:短线供需与成本博弈,钢价震荡运行 | 14 | | 碳酸锂:去库加速,震荡运行 | 16 | | 工业硅:上游继续复产,逢高布空思路 | 18 | | 多晶硅:市场消息再次发酵,关注实际落地 | 18 | | 铁矿石:宏观预期支撑,偏强震荡 | 20 | | 螺纹钢:关注电炉减产节奏,宽幅震荡 | 21 | | 热轧卷板:关注电炉减产节奏,宽幅震荡 | 21 | | 硅铁:市场观望气氛浓厚,宽幅震荡 | 23 | | 锰硅:市场观望气氛浓厚,宽幅震荡 | 23 | | 焦炭:预期反复,宽幅震荡 | 25 | | 焦煤:预期反复 ...
宝城期货品种套利数据日报(2025年10月10日)-20251010
Bao Cheng Qi Huo· 2025-10-10 01:07
运筹帷幄 决胜千里 宝城期货品种套利数据日报(2025 年 10 月 10 日) 一、动力煤 | 商品 | | 动力煤 | (元/吨) | | | --- | --- | --- | --- | --- | | 日期 | 基差 | 5月-1月 | 9月-1月 | 9月-5月 | | 2025/10/09 | -102.4 | 0.0 | 0.0 | 0.0 | | 2025/09/30 | -102.4 | 0.0 | 0.0 | 0.0 | | 2025/09/29 | -102.4 | 0.0 | 0.0 | 0.0 | | 2025/09/26 | -100.4 | 0.0 | 0.0 | 0.0 | | 2025/09/25 | -95.4 | 0.0 | 0.0 | 0.0 | 投资咨询业务资格:证监许可【2011】1778 号 www.bcqhgs.com 1 杭州市求是路8号公元大厦东南裙楼1-5层 运筹帷幄 决胜千里 二、能源化工 www.bcqhgs.com 2 杭州市求是路8号公元大厦东南裙楼1-5层 2025/10/09 2025/09/30 2025/09/29 2025/09/26 ...
有色套利早报-20251010
Yong An Qi Huo· 2025-10-10 00:57
免责声明: 锌 当月合约-现货 次月合约-现货 价差 -1000 175 理论价差 59 240 铅 当月合约-现货 次月合约-现货 价差 -350 340 理论价差 44 156 跨品种套利跟踪 2025/10/10 铜/锌 铜/铝 铜/铅 铝/锌 铝/铅 铅/锌 沪(三连) 3.89 4.12 5.07 0.94 1.23 0.77 伦(三连) 3.61 3.88 5.35 0.93 1.38 0.67 铅:跨市套利跟踪 2025/10/10 国内价格 LME价格 比价 现货 16775 1986 8.46 三月 17135 2016 11.02 均衡比价 盈利 现货进口 8.83 -734.46 跨期套利跟踪 2025/10/10 铜 次月-现货月 三月-现货月 四月-现货月 五月-现货月 价差 3400 3470 3500 3400 理论价差 519 936 1361 1787 锌 次月-现货月 三月-现货月 四月-现货月 五月-现货月 价差 1175 1195 1230 1260 理论价差 209 323 438 553 铝 次月-现货月 三月-现货月四月-现货月 五月-现货月 价差 380 375 ...
中辉有色观点-20251009
Zhong Hui Qi Huo· 2025-10-09 03:26
中辉有色观点 | 中辉有色观点 | | | | --- | --- | --- | | 品种 | 核心观点 | 主要逻辑 | | 黄金 | | 美国政府停摆、法国总理上任不足一月辞职、日本政治不确定性共同推高了避险情 | | ★★★ | 跳空高开 | 绪。短期沪金或挑战 910 位置,短线追高需要控制节奏仓位。中长期黄金支撑逻辑 | | | | 不变,降息周期开启,地缘重塑,央行买黄金,黄金战略配置价值不变。 | | | | 白银跟随黄金、铜等市场大幅波动,短期情绪高涨。全球政策刺激明显,白银需求 | | 白银 | 跳空高开 | 坚挺,供需缺口明显,白银长期看多逻辑不变。黄金等品种波动会白银盘面波动有 | | ★★ | | 冲击。短线可试多,长线长期持有 | | | | 宏微共振,投机资金涌入铜市,伦铜创年内新高,节后沪铜或跟涨高开。建议铜前 | | 铜 | | 期多单继续持有,新多单等待回调企稳再入场,铜作为中美博弈的重要战略资源和 | | ★★ | 长期持有 | 贵金属的平替资产配置,在铜精矿紧张和绿色铜需求爆发背景下,长期看好。 | | | | 国庆假期,伦锌震荡走强,伦锌库存不足 4 万吨,软挤仓风险 ...
宝城期货品种套利数据日报(2025年9月30日):一、动力煤-20250930
Bao Cheng Qi Huo· 2025-09-30 02:04
Group 1: Report Overview - The report is the Baocheng Futures Variety Arbitrage Data Daily Report for September 30, 2025, covering multiple commodity sectors including power coal, energy chemicals, black metals, non - ferrous metals, agricultural products, and stock index futures [1] Group 2: Power Coal - The power coal data shows the basis from September 23 to September 29, 2025. The basis gradually decreased from -95.4 yuan/ton on September 23 to -102.4 yuan/ton on September 29, while the spreads of 5 - month minus 1 - month, 9 - month minus 1 - month, and 9 - month minus 5 - month remained 0.0 [2] Group 3: Energy Chemicals Energy Commodities - For energy commodities, data on fuel oil, INE crude oil, and the ratio of crude oil to asphalt are presented. The basis and price ratios of these commodities changed from September 23 to September 29, 2025. For example, the basis of INE crude oil was 15.24 yuan/ton on September 23 and 13.03 yuan/ton on September 29 [7] Chemical Commodities - In the chemical sector, the basis data of rubber, methanol, PTA, LLDPE, V, and PP are provided. The basis of these commodities fluctuated from September 23 to September 29, 2025. For instance, the basis of rubber decreased from -825 yuan/ton on September 23 to -825 yuan/ton on September 29 [9] - The cross - period spreads and cross - variety spreads of chemical commodities are also given. For cross - period spreads, different spreads such as 5 - month minus 1 - month, 9 - month minus 1 - month, and 9 - month minus 5 - month are shown for various chemicals. For cross - variety spreads, spreads like LLDPE - PVC, LLDPE - PP, PP - PVC, and PP - 3*methanol are presented with their values changing from September 23 to September 29, 2025 [11] Group 4: Black Metals - The black metal data includes cross - period spreads and cross - variety spreads, as well as basis data. For cross - period spreads, values for 5 - month minus 1 - month, 9 - month(10) minus 1 - month, and 9 - month(10) minus 5 - month are given for rebar, iron ore, coke, and coking coal. For cross - variety spreads, ratios such as rebar/iron ore, rebar/coke, coke/coking coal, and rebar - hot rolled coil are presented. The basis data of rebar, iron ore, coke, and coking coal also changed from September 23 to September 29, 2025 [20][21] Group 5: Non - Ferrous Metals Domestic Market - In the domestic non - ferrous metal market, the basis data of copper, aluminum, zinc, lead, nickel, and tin are provided from September 23 to September 29, 2025. The basis values of these metals fluctuated during this period [28] London Market - In the London market, data on LME non - ferrous metals including copper, aluminum, zinc, lead, nickel, and tin are presented. Information such as LME forward premium/discount, Shanghai - London ratio, CIF price, domestic spot price, and import profit/loss are given for September 29, 2025 [33] Group 6: Agricultural Products - The agricultural product data includes basis, cross - period spreads, and cross - variety spreads. For basis, values of soybeans No.1, soybeans No.2, soybean meal, soybean oil, corn, etc. are shown from September 23 to September 29, 2025. The cross - period spreads are calculated for different months (5 - month minus 1 - month, 9 - month minus 1 - month, 9 - month minus 5 - month) for various agricultural products. The cross - variety spreads such as the ratio of soybeans No.1 to corn, soybeans No.2 to corn, etc. are also presented with their values changing over the period [38] Group 7: Stock Index Futures - The stock index futures data includes basis and cross - period spreads. The basis data of CSI 300, SSE 50, CSI 500, and CSI 1000 are provided from September 23 to September 29, 2025. The cross - period spreads of the next - month minus the current - month and the next - quarter minus the current - quarter are given for these stock index futures [49]
有色套利早报-20250930
Yong An Qi Huo· 2025-09-30 01:01
跨期套利跟踪 2025/09/30 铜 次月-现货月 三月-现货月 四月-现货月 五月-现货月 价差 -100 -110 -150 -130 理论价差 514 927 1348 1769 锌 次月-现货月 三月-现货月 四月-现货月 五月-现货月 价差 -150 -120 -75 -40 理论价差 213 332 450 569 铝 次月-现货月 三月-现货月四月-现货月 五月-现货月 价差 -25 -30 -20 -25 理论价差 215 331 446 562 铅 次月-现货月 三月-现货 月 四月-现货月 五月-现货月 价差 -215 -185 -165 -150 理论价差 210 317 423 529 镍 次月-现货月 三月-现货月 四月-现货 月 五月-现货月 价差 0 170 340 620 锡 5-1 价差 1010 理论价差 5645 期现套利跟踪 2025/09/30 铜 当月合约-现货 次月合约-现货 价差 295 195 理论价差 346 787 锌 当月合约-现货 次月合约-现货 价差 330 180 理论价差 159 285 铅:跨市套利跟踪 2025/09/30 国内价格 LME ...
有色和贵金属每日早盘观察-20250929
Yin He Qi Huo· 2025-09-29 07:31
Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Core View of the Report - The overall trend of precious metals is expected to remain strong due to factors such as the US government shutdown crisis, geopolitical conflicts, and the possibility of the Fed cutting interest rates. However, due to the approaching National Day holiday in China and high uncertainties in the overseas market, it is advisable to reduce positions on futures at high prices [5]. - Copper prices are affected by factors such as macro - economic data, supply disruptions, and weakening consumption. Short - term copper prices may have a correction, and it is recommended to take profits at high prices before the holiday and hold light positions [7][10]. - Alumina is expected to maintain a weak operation due to the over - supply situation, import window opening, and the limited impact of policies on capacity investment [17]. - Cast aluminum alloy futures prices are expected to fluctuate at a high level with aluminum prices, and the alloy ingot spot price remains stable and slightly strong [19][20]. - The aluminum price is expected to remain in a volatile pattern in the short term, with possible seasonal inventory accumulation after the holiday, and attention should be paid to the negative feedback on prices if demand does not recover rapidly [23][24]. - Zinc prices may rebound in the short term, but there is still a risk of further decline if there is a large - scale delivery in LME. The supply of refined zinc may increase in October, and consumption is expected to remain weak [27][28][29]. - Lead prices may decline as the supply of lead ingots is expected to increase while consumption shows no obvious improvement [35][36]. - Nickel prices are expected to fluctuate widely, with a relatively flat downstream consumption trend and a surplus in the refined nickel market, and attention should be paid to import and visible inventory changes [38][39]. - Stainless steel is expected to maintain a high - level volatile trend, with increased production in September but no obvious seasonal peak in demand, and cost support at the bottom [43][45]. - Industrial silicon may have a short - term correction and then can be bought on dips, as the inventory structure is prone to positive feedback between futures and spot prices, and there are uncertainties in supply and demand [48]. - Polysilicon prices may have a short - term correction, and it is recommended to exit long positions first and then re - enter after sufficient correction after the holiday [50][51][52]. - Lithium carbonate prices are expected to remain in a volatile pattern, with limited supply growth, strong demand, and continuous inventory depletion [55]. - Tin prices are expected to maintain a high - level volatile trend, with a tight supply at the mine end, weak demand, and slow improvement in the short - term fundamentals [56][60][61]. Group 3: Summary by Relevant Catalogs Precious Metals Market Review - London gold closed up 0.28% at $3758.78 per ounce, and London silver closed up 2% at $46.032 per ounce. Shanghai gold and silver futures also reached new highs [3]. - The US dollar index fell 0.4% to 98.15, the 10 - year US Treasury yield weakened to 4.164%, and the RMB exchange rate against the US dollar fell 0.04% to 7.1349 [3]. Important Information - US macro - data such as PCE price index and consumer confidence index were released, and the Fed's interest - rate decision probability was predicted [4][5]. - The US government faces a shutdown crisis, and there are signs of an escalation in the Russia - Ukraine conflict [5]. Trading Strategy - Take profits at high prices on futures and reduce positions to lock in profits [5]. Copper Market Review - Shanghai copper futures fell 0.79% to 81890 yuan per ton, and LME copper fell 0.69% to $10205 per ton. LME inventory decreased by 25 tons to 14.44 million tons, and COMEX inventory increased by 1228 tons to 32.22 million tons [7]. Important Information - China's power generation capacity data, the possible delay of the US employment report, and relevant industry policies were released [8][9]. - Argentina approved a copper project, and Grasberg's production is expected to decline [9][10]. Trading Strategy - Take profits at high prices before the holiday, hold light positions, and consider buying deep - out - of - the - money call options or collar call options [7]. Alumina Market Review - Alumina futures fell 49 yuan to 2867 yuan per ton, and spot prices in different regions showed different trends [13]. Important Information - Industry policies on alumina project investment were introduced, and information on production capacity, raw material prices, and imports was provided [13][14][17]. Trading Strategy - The price is expected to be weak, and it is recommended to wait and see for arbitrage and options [17]. Cast Aluminum Alloy Market Review - Cast aluminum alloy futures fell 115 yuan to 20200 yuan per ton, and spot prices in different regions showed different trends [19]. Important Information - Policies affecting the recycled aluminum industry were introduced, and the inventory of aluminum alloy on the Shanghai Futures Exchange increased [19]. Trading Strategy - Futures prices are expected to fluctuate at a high level with aluminum prices, and it is recommended to wait and see for arbitrage and options [20]. Electrolytic Aluminum Market Review - Shanghai aluminum futures fell 115 yuan to 20660 yuan per ton, and spot prices in different regions showed different trends [22]. Important Information - US economic data and electrolytic aluminum inventory changes were reported [22]. Trading Strategy - The price is expected to fluctuate in the short term, and it is recommended to wait and see for arbitrage and options [24]. Zinc Market Review - LME zinc fell 1.23% to $2886.5 per ton, and Shanghai zinc fell 1.5% to 21705 yuan per ton. Spot trading was dull [27]. Important Information - Zinc concentrate inventory decreased, and domestic and imported zinc ore processing fees showed different trends [27]. Trading Strategy - Zinc prices may rebound in the short term, but pay attention to the risk of further decline if there is large - scale delivery in LME. Wait and see for arbitrage and options [29]. Lead Market Review - LME lead fell 0.37% to $2001.5 per ton, and Shanghai lead fell 0.09% to 17075 yuan per ton. Spot trading was general [31]. Important Information - The profitability of recycled lead smelters improved, and the production of lead batteries showed different trends [31][32]. Trading Strategy - Lead prices may decline, and it is recommended to wait and see for arbitrage and options [36]. Nickel Market Review - LME nickel fell $85 to $15155 per ton, and Shanghai nickel fell 1050 yuan to 120790 yuan per ton. Spot premiums showed different trends [38]. Important Information - Industry policies on resource exploration and a nickel mine exploration right auction were reported [38][39]. Trading Strategy - Nickel prices are expected to fluctuate widely, and it is recommended to wait and see for arbitrage and options [39]. Stainless Steel Market Review - Stainless steel futures fell 85 yuan to 12765 yuan per ton, and spot prices were in a certain range [42]. Important Information - India approved the BIS certification for steel from Taiwan, China [43]. Trading Strategy - Stainless steel prices are expected to fluctuate widely, and it is recommended to wait and see for arbitrage [46]. Industrial Silicon Market Review - Industrial silicon futures fluctuated narrowly, and some spot prices strengthened [48]. Important Information - China's industrial silicon export data was reported, and there were rumors about production capacity expansion [48]. Trading Strategy - Industrial silicon may have a short - term correction and then can be bought on dips. Sell out - of - the - money put options to take profits [48]. Polysilicon Market Review - Polysilicon futures rebounded from the bottom, and spot prices were stable [50][51]. Important Information - A research on EU solar component production capacity was reported [51]. Trading Strategy - Polysilicon prices may have a short - term correction. Exit long positions first and re - enter after sufficient correction after the holiday. Do reverse arbitrage between 2511 and 2512 contracts and sell out - of - the - money put options to take profits [51][52]. Lithium Carbonate Market Review - Lithium carbonate futures fell 1160 yuan to 72880 yuan per ton, and spot prices decreased [53]. Important Information - News about China's new energy vehicle development and a battery project was reported [53][55]. Trading Strategy - Lithium carbonate prices are expected to fluctuate widely, and it is recommended to wait and see for arbitrage. Sell out - of - the - money put options [56]. Tin Market Review - Tin futures fell 0.12% to 273220 yuan per ton, and spot trading was not ideal [56]. Important Information - US PCE price index data and industry policies were reported [58][59]. Trading Strategy - Tin prices are expected to maintain a high - level volatile trend. Wait and see for arbitrage and sell out - of - the - money put options [61].