姓名：涂伟华 宝城期货投资咨询部 从业资格证号：F3060359 投资咨询证号：Z0011688 电话：0571-87006873 邮箱：tuweihua@bcqhgs.com 作者声明 本人具有中国期货业协会 授予的期货从业资格证书，期 货投资咨询资格证书，本人承 诺以勤勉的职业态度，独立、 客观地出具本报告。本报告清 晰准确地反映了本人的研究观 点。本人不会因本报告中的具 体推荐意见或观点而直接或间 接接收到任何形式的报酬。 钢材&铁矿石 | 日报 2025 年 11 月 13 日 钢材&铁矿石日报 专业研究·创造价值 投资咨询业务资格：证监许可【2011】1778 号 期货研究报告 现实格局弱稳，钢矿延续震荡 核心观点 螺纹钢：主力期价低位震荡，录得 0.23%日涨幅，量增仓缩。现阶段， 螺纹钢供应收缩至低位，但需求同样走弱，供需双弱局面下基本面并未 好转，钢价继续承压，但估值偏低叠加成本尚有支撑，预计后续走势延 续震荡寻底态势，关注需求变化情况。 热轧卷板：主力期价震荡运行，录得 0.12%日跌幅，量仓收缩。目前来 看，热卷供需两端均有走弱，产业矛盾缓解有限，卷价继续承压运行， 相对利好则是成本尚有支 ...

Core Insights - Dalian Shipbuilding has secured over 30 new ship orders from domestic and international shipowners, including container ships, oil tankers, and bulk carriers, indicating a strong operational performance [2][8]. Group 1: Container Ship Orders - Dalian Shipbuilding signed a contract with Vietnam's Hai An Green Shipping Company for 2+2 units of 7100 TEU container ships, marking a significant order in the container ship segment [3]. - The total order for 7100 TEU container ships has reached 14 units, showcasing Dalian Shipbuilding's capability for efficient mass production of medium to large container vessels [3]. - Notable shipowners such as Danoas from Greece and Asiatic Lloyd from Germany have placed orders for 7100 TEU container ships, with Danoas's vessels set for delivery in 2027 [3][4]. Group 2: LNG Dual-Fuel Container Ships - Dalian Shipbuilding has secured an order for 10 LNG dual-fuel 22000 TEU ultra-large container ships from French shipping giant CMA CGM, further solidifying its leadership in the clean energy vessel sector [6]. - The total value of this order is projected to reach $2.1 billion (approximately 14.94 billion RMB), with the first six vessels scheduled for delivery between 2027 and 2028 [6]. Group 3: Oil and Bulk Carrier Orders - Dalian Shipbuilding has also signed contracts for various oil and bulk carriers, including 2 units of 110,000-ton product oil/crude oil tankers and 6 units of 307,000-ton crude oil tankers, reflecting its traditional strengths in these markets [8][10]. - The total transaction value for the 6 VLCCs ordered by COSCO Shipping Development is approximately 5.0858 billion RMB, with the first vessel expected to be delivered in April 2027 [14]. Group 4: Domestic Market Developments - All recent contracts with domestic shipowners are denominated in RMB, indicating an increase in China's shipbuilding industry's bargaining power and promoting diversified settlement methods [15]. - Dalian Shipbuilding's production lines are fully booked until 2029-2030, demonstrating its robust order backlog and competitive strength in the global market [15].