行业研究公司研究宏观策略财报招股书会议纪要 seedance2.0 低空经济 DeepSeek AIGC 大模型

早间评论

2026-02-13张伟、万亮、黄婷、夏学钊、刘雪婷、钟明真、徐友清、赵雄、沈轩宇、郭蓉、杨翕雅、应豪西南期货周***

AI智能总结

国债期货收盘多数下跌，央行开展1万亿元买断式逆回购操作。1月新能源乘用车出口同比增长103.6%。预计国债期货仍有一定压力，保持谨慎。

股指期货涨跌不一，沪深300股指期货主力合约上涨0.09%，上证50股指期货主力合约下跌0.30%，中证500股指期货和中证1000股指期货主力合约分别上涨1.35%和1.14%。预计股指波动中枢将逐步上移，前期多单可继续持有，春节长假将至，需重视风险控制。

贵金属期货下跌，黄金主力合约和白银主力合约分别下跌0.38%和1.52%。全球贸易金融环境复杂，各国央行购金行为对黄金走势形成支撑。预计市场波动将显著放大，多单可离场后观望。

黑色系期货多数下跌。螺纹钢和热卷期货弱势震荡，螺纹钢需求同比下降，供应压力仍在，价格可能延续弱势震荡。铁矿石期货震荡整理，铁矿石需求处于低位，港口库存持续上升，市场供需格局偏弱。焦煤焦炭期货延续回调，焦煤供应量下降，焦炭需求偏弱。铁合金期货下跌，铁合金产量维持低位，短期过剩程度略有减弱。

能源化工期货多数下跌。原油期货高开低走，美伊关系反复，CFTC数据显示资金看多原油价格。燃料油期货继续收于均线组上方，亚洲燃料油市场疲软。聚烯烃期货弱势震荡，春节将至，下游工厂陆续进入放假阶段，市场需求量将会大幅缩减。合成橡胶期货下跌，顺丁橡胶产能利用率维持高位。

农产品期货多数上涨。天然橡胶期货下跌，节前最后一周橡胶表现震荡偏强。PVC期货下跌，价格走势和库存去化速度的关键在于春节后需求的恢复情况。尿素期货上涨，关注印度招标动态、国内政策消息以及节后下游需求的恢复节奏。对二甲苯期货下跌，短期PXN价差和短流程利润小幅压缩。PTA期货下跌，短期PTA加工费调整至往年平均水平。乙二醇期货下跌，港口库存持续累库，下游聚酯季节性检修兑现。短纤期货下跌，春节临近，终端织机负荷降至低点。瓶片期货下跌，春节前后有集中减停产。纯碱期货下跌，基本面延续宽松。玻璃期货下跌，产能主动去化阶段。烧碱期货上涨，库存表现略有好转。纸浆期货上涨，库存延续累库。碳酸锂期货上涨，碳酸锂下方支撑仍强。

金属期货多数下跌。铜期货下跌，资本市场风险偏好降温，美元指数短暂冲高。铝期货下跌，氧化铝的成本支撑不坚挺。锌期货下跌，锌市场呈现供需双弱格局。铅期货下跌，供给端虽结构性收紧，但多数原生铅企业和部分再生铅企业在春节期间维持生产。锡期货下跌，美国政策不确定性较大。镍期货下跌，全球最大镍矿WedaBayNickel今年产量配额或从4200万吨大幅削减至1200万吨。

油脂类期货多数上涨。豆粕期货上涨，乐观的出口需求预期延续。豆油期货下跌，豆油需求略有好转，出口放量显著。棕榈油期货下跌，棕榈油累库，库存处于近7年同期中等略偏高水平。菜粕期货和菜油期货暂时观望。棉花期货震荡运行，USDA2月供需报告偏利空。白糖期货冲高回落，受美元走强压制，全球增产预期强烈。苹果期货震荡运行，市场进入小区间震荡期。生猪期货上涨，整体供大于需，市场猪源过剩。鸡蛋期货上涨，2月鸡蛋供应或维持偏高水平。玉米期货和玉米淀粉期货上涨，国内玉米基本产需平衡，后续进口或维持低位。原木期货上涨，下游需求渐淡，回归基本面现实。

2026年2月13日星期五地址：电话：重庆市江北区金沙门路32号23层；023-67071029上海市浦东新区世纪大道210号10楼1001；021-61101854 目录市场有风险投资需谨慎2国债：...................................................................................................................................4股指：...................................................................................................................................4贵金属：...............................................................................................................................4螺纹、热卷：.......................................................................................................................5铁矿石：...............................................................................................................................6焦煤焦炭：...........................................................................................................................6铁合金：...............................................................................................................................6原油：...................................................................................................................................6燃料油：...............................................................................................................................7聚烯烃：...............................................................................................................................8合成橡胶：...........................................................................................................................8天然橡胶：...........................................................................................................................9PVC：.....................................................................................................................................9尿素：.................................................................................................................................10对二甲苯PX：....................................................................................................................10PTA：...................................................................................................................................11乙二醇：.............................................................................................................................12短纤：.................................................................................................................................12瓶片：.................................................................................................................................12纯碱：.................................................................................................................................13玻璃：.................................................................................................................................13烧碱：.................................................................................................................................14纸浆：.................................................................................................................................14 碳酸锂：.............................................................................................................................15铜：.....................................................................................................................................15铝：.....................................................................................................................................16锌：.....................................................................................................................................16铅：.....................................................................................................................................16锡：.....................................................................................................................................17镍：.....................................................................................................................................17豆油、豆粕：.....................................................................................................................17棕榈油：.............................................................................................................................18菜粕、菜油：.....................................................................................................................19棉花：.................................................................................................................................20白糖：.................................................................................................................................21苹果：.................................................................................................................................21生猪：..............................................................................................................

点击免费查看完整报告

你可能感兴趣