股票论坛 › 股票总论坛 › [原创]瑞达期货：1月25日早盘提示

瑞达期货 发表于 2011-1-25 09:36

<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: center" align=center><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">瑞达期货：</SPAN><?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /><st1:chsdate w:st="on" IsROCDate="False" IsLunarDate="False" Day="25" Month="1" Year="2011"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">25</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">日早</SPAN></st1:chsdate><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">盘提示</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体"><o:p>&nbsp;</o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: center" align=center><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">金属产品<SPAN lang=EN-US><o:p></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 12pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">1 </SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">锌、铝<SPAN lang=EN-US><o:p></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 12pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">外盘：隔夜，伦锌由升转跌，<SPAN lang=EN-US>60</SPAN>日均线在上方形成压制，电<SPAN lang=EN-US>3</SPAN>合约收报于<SPAN lang=EN-US>2311</SPAN>美元，跌幅<SPAN lang=EN-US>0.39%</SPAN>；伦铝冲高回落，成交量萎缩明显，电<SPAN lang=EN-US>3</SPAN>合约收报于<SPAN lang=EN-US>2416</SPAN>美元，跌幅<SPAN lang=EN-US>0.12%</SPAN>。<SPAN lang=EN-US><o:p></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 12pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">消息方面：<SPAN lang=EN-US>1.</SPAN>货币市场流动性告急 央行再施逆回购<SPAN lang=EN-US>2.</SPAN>河南钒铝矿储量勘探迎来新突破<SPAN lang=EN-US><o:p></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 12pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">现货方面：上海现货<SPAN lang=EN-US>0#</SPAN>锌报<SPAN lang=EN-US>18450-18550</SPAN>元<SPAN lang=EN-US>/</SPAN>吨，上涨<SPAN lang=EN-US>100</SPAN>元<SPAN lang=EN-US>/</SPAN>吨，贴水<SPAN lang=EN-US>460-</SPAN>贴水<SPAN lang=EN-US>360</SPAN>元<SPAN lang=EN-US>/</SPAN>吨；<SPAN lang=EN-US>1#</SPAN>锌报<SPAN lang=EN-US>18400-18500</SPAN>元<SPAN lang=EN-US>/</SPAN>吨，涨<SPAN lang=EN-US>100</SPAN>元<SPAN lang=EN-US>/</SPAN>吨，贴水<SPAN lang=EN-US>510-</SPAN>贴水<SPAN lang=EN-US>410</SPAN>元<SPAN lang=EN-US>/</SPAN>吨。<SPAN lang=EN-US>A00 </SPAN>铝报在<SPAN lang=EN-US>16610-16630</SPAN>元<SPAN lang=EN-US>/</SPAN>吨，保持不变，贴水<SPAN lang=EN-US>30-</SPAN>贴水<SPAN lang=EN-US>10</SPAN>元<SPAN lang=EN-US>/</SPAN>吨。<SPAN lang=EN-US><o:p></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 12pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">库存方面：<SPAN lang=EN-US>LME</SPAN>锌库存为<SPAN lang=EN-US>711450</SPAN>吨，较上交易日减少<SPAN lang=EN-US>100</SPAN>吨，上海交易所锌期货库存为<SPAN lang=EN-US>262899</SPAN>吨，增加<SPAN lang=EN-US>202</SPAN>吨。<SPAN lang=EN-US>LME</SPAN>铝库存为<SPAN lang=EN-US>4545950</SPAN>吨，较上交易日减少<SPAN lang=EN-US>4375</SPAN>吨，上海交易所铝期现货库存为<SPAN lang=EN-US>275749</SPAN>吨，减少<SPAN lang=EN-US>2443</SPAN>吨。<SPAN lang=EN-US><o:p></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 12pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">观点总结：基本面上，供求过剩的局面尚未改变。资金面上，沪铝主力合约前<SPAN lang=EN-US>20</SPAN>名净空单维持在<SPAN lang=EN-US>7000</SPAN>手以内；沪锌前<SPAN lang=EN-US>20</SPAN>名净空单增加至<SPAN lang=EN-US>2.1</SPAN>万手以上。技术显示，沪锌期价出现破位迹象；沪铝将维持震荡格局。操作建议：沪锌、沪铝暂时观望。<SPAN lang=EN-US><o:p></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 12pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">2 </SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">铜<SPAN lang=EN-US><o:p></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 12pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体"><SPAN style="mso-spacerun: yes">&nbsp; </SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">外盘：隔夜伦铜小幅收高，主要受美国强劲的汽车销售数据和美元疲软提振，铜价盘中一度下探至<SPAN lang=EN-US>9465</SPAN>美元<SPAN lang=EN-US>/</SPAN>吨，尾盘的小幅上涨，表明铜价下跌意愿不强，目前铜价处于均线交织处运行，走势较震荡。<SPAN lang=EN-US><o:p></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 12pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体"><SPAN style="mso-spacerun: yes">&nbsp; </SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">消息方面：<SPAN lang=EN-US>1.</SPAN>通用汽车周一称去年其全球销售量增加<SPAN lang=EN-US>12%</SPAN>，主要受益于关键的中国市场销售稳固。<SPAN lang=EN-US>2.</SPAN>目前市场关注将于本周三召开的美联储议息会议，因会议结果将显示美联储对经济复苏步伐更为乐观。<SPAN lang=EN-US><o:p></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 12pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体"><SPAN style="mso-spacerun: yes">&nbsp; </SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">现货方面：上海现铜报<SPAN lang=EN-US>70950-71150</SPAN>元，上涨<SPAN lang=EN-US>750 </SPAN>元<SPAN lang=EN-US>/</SPAN>吨，贴水<SPAN lang=EN-US>300</SPAN>，贴水小幅扩大，表明现货跟涨动能不足；内外比价为<SPAN lang=EN-US>7.52-7.53</SPAN>，比值小幅回升，变化不大。<SPAN lang=EN-US><o:p></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 12pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体"><SPAN style="mso-spacerun: yes">&nbsp; </SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">库存：伦铜库存增加<SPAN lang=EN-US>200</SPAN>至<SPAN lang=EN-US>381500</SPAN>，目前注销仓单处于<SPAN lang=EN-US>8.02%</SPAN>，处于<SPAN lang=EN-US>5%</SPAN>之上，暗示库存仍有可能减少。<SPAN lang=EN-US><o:p></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 12pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体"><SPAN style="mso-spacerun: yes">&nbsp; </SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">观点总结：昨日伦铜小幅收高，主要受强劲的美国销售数据和疲软的美元指数提振。目前市场重点关注本周三即将召开的美联储议息会议，届时美联储将发表对美国经济复苏步伐的观点，市场预计较为乐观。不过近期在铜价并未出现较大行情之际，外盘持仓大幅减少，似乎给我们发出铜价还将继续回调的信号，再结合目前离中国春节仅剩<SPAN lang=EN-US>5</SPAN>个交易日，因此铜价料难大幅上涨，走势较震荡，建议长线多头继续持有，而短线则只能适合日内操作。今日沪铜料开至<SPAN lang=EN-US>71800</SPAN>附近。<SPAN lang=EN-US><o:p></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 12pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体"><o:p>&nbsp;</o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 12pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">3<SPAN style="mso-spacerun: yes">&nbsp; </SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">钢材<SPAN lang=EN-US><SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp; </SPAN><o:p></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 12pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体"><SPAN style="mso-spacerun: yes">&nbsp;&nbsp; </SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">现货市场：<st1:chmetcnv TCSC="0" NumberType="1" Negative="False" HasSpace="False" SourceValue="8" UnitName="mm" w:st="on"><SPAN lang=EN-US>8mm</SPAN></st1:chmetcnv><SPAN lang=EN-US> Q235</SPAN>高线上海报价<SPAN lang=EN-US>4850</SPAN>元<SPAN lang=EN-US>/</SPAN>吨，上调<SPAN lang=EN-US>70</SPAN>元<SPAN lang=EN-US>/</SPAN>吨，<st1:chmetcnv TCSC="0" NumberType="1" Negative="False" HasSpace="False" SourceValue="20" UnitName="mm" w:st="on"><SPAN lang=EN-US>20mm</SPAN></st1:chmetcnv><SPAN lang=EN-US> HRB400</SPAN>螺纹钢上海报价<SPAN lang=EN-US>5000</SPAN>元<SPAN lang=EN-US>/</SPAN>吨，上调<SPAN lang=EN-US>80</SPAN>元<SPAN lang=EN-US>/</SPAN>吨。<SPAN lang=EN-US><SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp; </SPAN><o:p></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 12pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体"><SPAN style="mso-spacerun: yes">&nbsp;&nbsp; </SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">消息：<SPAN lang=EN-US>(1) </SPAN>淡季房价上涨，或致新一轮从严调控政策出台<SPAN lang=EN-US>(2) </SPAN>货币市场流动性告急，央行再施逆回购<SPAN lang=EN-US>(3) </SPAN>三大央企上调<SPAN lang=EN-US>2</SPAN>月份钢价，河北钢铁或将跟进<SPAN lang=EN-US>(4) </SPAN>印度粉矿<st1:chsdate w:st="on" IsROCDate="False" IsLunarDate="False" Day="24" Month="1" Year="2011"><SPAN lang=EN-US>1</SPAN>月<SPAN lang=EN-US>24</SPAN>日</st1:chsdate><SPAN lang=EN-US>CIF</SPAN>参考报价<SPAN lang=EN-US>190-192</SPAN>美元<SPAN lang=EN-US>/</SPAN>吨，涨<SPAN lang=EN-US>2</SPAN>美元<SPAN lang=EN-US>/</SPAN>吨。<SPAN lang=EN-US><SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp; </SPAN><o:p></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 12pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体"><SPAN style="mso-spacerun: yes">&nbsp;&nbsp; </SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">库存：上海交易所螺纹钢仓单日报为<SPAN lang=EN-US>16666</SPAN>吨，减持<SPAN lang=EN-US>593</SPAN>。线材仓单日报为<SPAN lang=EN-US>0</SPAN>，持平。<SPAN lang=EN-US><SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp; </SPAN><o:p></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 12pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体"><SPAN style="mso-spacerun: yes">&nbsp;&nbsp; </SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">小结：周一国内钢材期现价格继续走高，目前现货市场近半数商家已经离市，年关逼近，商家报出坚挺价格的同时又较为惜售，市场成交较清淡，但商家热情高涨，后市的成本支撑无疑引导着钢材价格稳中带涨。目前<SPAN lang=EN-US>63.5%</SPAN>印粉港口报价维持在<SPAN lang=EN-US>190</SPAN>美元<SPAN lang=EN-US>/</SPAN>吨高位。操作上建议，维持震荡偏多思维，前期多单继续依托<SPAN lang=EN-US>5</SPAN>日线持有。<SPAN lang=EN-US><o:p></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 12pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">4</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">黄金<SPAN lang=EN-US><o:p></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 12pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体"><SPAN style="mso-spacerun: yes">&nbsp; </SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">外盘：昨日黄金继续走低，此前在亚洲市黄金受爱尔兰政局不稳提振有所走强，但晚间又再度回落，表明金价上涨依旧乏力，短线依旧保持看空思路。<SPAN lang=EN-US><o:p></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 12pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">消息方面：<SPAN lang=EN-US>1.</SPAN>目前市场关注将于本周三召开的美联储议息会议，因会议结果将显示美联储对经济复苏步伐更为乐观。<SPAN lang=EN-US>2.24</SPAN>日黄金<SPAN lang=EN-US>SPDR</SPAN>基金黄金持有量为<SPAN lang=EN-US>1260.84</SPAN>，较昨日大幅减少<SPAN lang=EN-US>10.93</SPAN>吨，暗示上周五的大幅增仓不具有可持续性。<SPAN lang=EN-US><o:p></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 12pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体"><SPAN style="mso-spacerun: yes">&nbsp; </SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">现货方面：上海黄金<SPAN lang=EN-US>9999</SPAN>报<SPAN lang=EN-US>291</SPAN>元<SPAN lang=EN-US>/</SPAN>克，下跌<SPAN lang=EN-US>0.01</SPAN>元<SPAN lang=EN-US>/</SPAN>克，跌幅为<SPAN lang=EN-US>0.0% <o:p></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 12pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体"><SPAN style="mso-spacerun: yes">&nbsp; </SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">观点总结：昨日美元指数小幅下跌，但金价并未从中获利，而是延续下跌走势，其中伦敦金跌破<SPAN lang=EN-US>1340</SPAN>收于<SPAN lang=EN-US>1334.65</SPAN>美元<SPAN lang=EN-US>/</SPAN>盎司。目前金价处于均线组之下运行，走势较为疲软。基本面上，目前市场关注将于本周三召开的美联储议息会议，如果会议结果显示美联储将继续维持较低的利率水平，金价料小幅获益上涨，但由于近期资金对黄金的关注度有所下降，表现为持续减仓，预计金价上行动能不足，因此我们依旧保持逢高抛空的思路。<SPAN lang=EN-US><o:p></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 12pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体"><o:p>&nbsp;</o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: center" align=center><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">农产品</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1 </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">白糖</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">外盘：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">继上周五暴涨逾</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">美分</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">磅后，本周一</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">ICE</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">糖市进入横盘整理状态，收盘时除</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1103</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">期约糖价稍稍下跌外，其它合约糖价均小幅收高。当日</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1103</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">期约糖价下跌</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">个点（</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">-0.1%</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">），收于</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">32.31</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">美分</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">磅，盘中</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1103</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">期约糖价一度上涨</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1%</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">，攀升至</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">32</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">，</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">65</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">美分</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">磅的高点，</SPAN><st1:chsdate w:st="on" IsROCDate="False" IsLunarDate="False" Day="29" Month="12" Year="2010"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2010</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">年</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">12</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">29</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">日</SPAN></st1:chsdate><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1103</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">期约糖价曾攀升至</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1980</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">年</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">11</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月份以来</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">34.77</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">美分</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">磅的最高点；</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1105</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">期约糖价则上涨</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">个点（</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">+0.1%</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">），以</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">30.00</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">美分</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">磅报收。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">基本面消息：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"><SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp; </SPAN>1</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">、印度目前糖厂都不进口原糖</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> <o:p></o:p></FONT></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"><SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp; </SPAN>2</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">、新疆绿原糖业榨季生产结束</SPAN><SPAN style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">入榨甜菜</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">45.88</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">万吨</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">国内现货：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">国内现货小幅上调，南宁报</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">7040</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">（新糖）。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">库存仓单（张）：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2872</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">，有效预报</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1466</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">国内主产区天气情况：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">今天白天到晚上，河池、百色、崇左等市阴天大部有小雨，我区其它地区阴天到多云局部有小雨。南宁市</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">:</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">今天白天到晚上，阴天，东北风</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">到</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">级，最高气温</SPAN><st1:chmetcnv TCSC="0" NumberType="1" Negative="False" HasSpace="False" SourceValue="11" UnitName="℃" w:st="on"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">11</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">℃</SPAN></st1:chmetcnv><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">，最低气温</SPAN><st1:chmetcnv TCSC="0" NumberType="1" Negative="False" HasSpace="False" SourceValue="7" UnitName="℃" w:st="on"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">7</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">℃</SPAN></st1:chmetcnv><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">郑糖盘面：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt; TEXT-INDENT: 24pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">郑糖</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1109</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">合约上涨中成交萎缩，多头乏力，</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">7350</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨一带仍构成较大压力，</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">KDJ</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">指标有拐头向下可能，应警惕之。目前期价仍运行于收敛三角形内部，方向突破的选择仍有待时日，暂时日内交易为宜。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt; TEXT-INDENT: 24pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p><FONT face="Times New Roman">&nbsp;</FONT></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2<SPAN style="mso-spacerun: yes">&nbsp; </SPAN></FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">棉花</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">外盘走势：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">ICE</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">期棉继续涨停，受中国和美国供应紧缺推助</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">,</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">且近期市场无丝毫涨势放缓的迹象；</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">ICE-3</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月期棉合约收涨</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">5</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">美分，报</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">161.94</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">美分</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">磅。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">消息面：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"><SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp; </SPAN>1</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">、美国农业部</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">(USDA)</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">公布的棉花出口销售报告显示，截至</SPAN><st1:chsdate w:st="on" IsROCDate="False" IsLunarDate="False" Day="13" Month="1" Year="2011"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">13</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">日</SPAN></st1:chsdate><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">当周，美国</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2010-11</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">年度棉花净销售</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">191,200</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">包；</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2011-12</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">年度棉花净销售</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">253,000</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">包。当周美国</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2010-11</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">年度棉花出口装船</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">322,600</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">包。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"><SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp; </SPAN>2</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">、印度农业部长</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">Sharad Pawar</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">称，印度可能考虑允许出口更多的棉花，因截至</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">9</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月的本市场年度棉花产量料将超过最初的预估。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"><SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp; </SPAN>3</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">、</SPAN><st1:chsdate w:st="on" IsROCDate="False" IsLunarDate="False" Day="21" Month="1" Year="2011"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">21</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">日</SPAN></st1:chsdate><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">，</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">ICE</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">期货再度涨停促使进口棉中国主港报价继续大涨</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">4</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">美分。临近春节，纺织厂对外棉的需求有增无减。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">现货方面：棉花指数</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">328</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">价格为</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">28127</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨，与上一交易日上涨</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">226</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">仓单库存：交易所注册仓单为</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">166</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">张，较上一交易日增加</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">3</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">张，有效预报为</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">302</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">张。（每张对应棉花</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">40</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨）。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">主产区天气：受冷暖空气共同影响，未来三天，新疆北部、内蒙古东部、黑龙江大部、西北地区东南部、西南地区北部和中东部、江汉大部、江淮西部、江南大部、华南西部等地有小到中雪（雨）或雨夹雪，其中，新疆北部沿天山的部分地区有中到大雪。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt; TEXT-INDENT: 24pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">观点总结：由于美棉出口旺盛，资源紧张导致近期供应偏紧，基金买盘和投机性买盘推动美棉再度涨停，刷新历史纪录新高；国内现货价格上涨，整体呈现稳步攀升局面，纯棉纱报价也陆续调涨，加上之前一些囤货行为，致使棉纱销售短期转好。郑棉</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1109</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">合约大幅上涨，期价高开高走，尾盘明显减仓，短线有望进一步冲高，震荡面临加剧。操作上，多单持有，回落短多为主。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt; TEXT-INDENT: 24pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p><FONT face="Times New Roman">&nbsp;</FONT></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">3<SPAN style="mso-spacerun: yes">&nbsp; </SPAN></FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">油脂</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">外盘：交易商于近期价格上涨至多年高位后调整所持头寸</SPAN><SPAN style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">及原油期货下跌压制，</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">CBOT</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">豆油继续小幅下跌，主力</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">3</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月收于</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> 57.18</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">美分</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">磅；追随其它植物油市场的涨势，但交易商担忧持</SPAN><SPAN style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">续的价格上涨或会打压需求，</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">BMD</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">毛棕榈油期货周一脱离两周半</SPAN><SPAN style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">高点，主力</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">4</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月棕榈油期货收平于</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">3748</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">令吉</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨；</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">CBOT</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">大豆综合</SPAN><SPAN style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">产品价格的下滑及加元的走强打压，</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">ICE</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">加拿大油菜籽期货近弱</SPAN><SPAN style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">远强，主力</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">3</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月收盘下跌</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2.40</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">加元，报收于</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">599.20</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">加元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">公吨。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">消息：日前，中国食品土畜进出口商会和美国大豆协会、</SPAN><SPAN style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">大豆基金会、大豆出口协会共同举办中美大豆签约仪式，双方</SPAN><SPAN style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">签署中国自美采购大豆协议</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">10</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">项，总金额预计达</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">17.8</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">亿美元。</SPAN><SPAN style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">另外，</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">Informa</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">分析师称，巴西</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2010/11</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">年度大豆作物产量料将</SPAN><SPAN style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">达到纪录高位，因近期南里奥格兰德州迎来降雨。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"><SPAN style="mso-spacerun: yes">&nbsp; </SPAN><o:p></o:p></FONT></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">现货：昨日油脂现货价格明显走高。沿海四级豆油约为</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> 10100-10500</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨；港口棕榈油报价集中在</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">10050-10250</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨</SPAN><SPAN style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">；国内四级菜油出厂价格处于</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">10000-11000</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨水平。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">仓单：豆油，</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2121</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">张，较上一交易日减少</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">550</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">张；棕榈油，</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> 0</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">张；菜油，</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">14588</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">张；均无变化。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt; TEXT-INDENT: 24pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">观点总结：外盘油脂的反弹带动国内油脂市场再度走高，</SPAN><SPAN style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">短期上方面临</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">10800</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">一线的压力。从长期趋势来看，油脂重心依</SPAN><SPAN style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">然趋于上移，建议豆油趋势多单根据投资者自身情况进行持有</SPAN><SPAN style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">，建议止损价格设在</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">10100-10150</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨，短线投资者可日内轻</SPAN><SPAN style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">仓偏空操作。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p><FONT face="Times New Roman">&nbsp;</FONT></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p><FONT face="Times New Roman">&nbsp;</FONT></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">4<SPAN style="mso-spacerun: yes">&nbsp;&nbsp; </SPAN></FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">谷物</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">外盘：因交易商锁定获利，周一</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">CBOT</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">玉米期货市场承压收低，期价自</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">30</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">个月高位回落。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">消息方面：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">、本周二临储玉米投放量为</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">12.9861</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">万吨；</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">、国际谷物理事会上调小麦播种面积数据；</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">3 </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">、需求趋旺，</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月份江苏姜堰稻米价上涨。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">现货方面：截止目前北方港口总玉米库存在</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">135</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">万吨左右，库存数量较大，北方港口至蛇口港班轮运费</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> 50-55</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨，且与广东价格倒挂严重，贸易商发货热情较低。现锦州港收购</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">15%</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">以内水分玉米价格在</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2015</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> /</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨，鲅鱼圈同等水分玉米收购价在</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2035</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨，主流平舱价在</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2070</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨，均暂时保持平稳态势。广东港口</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> 15%</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">以内水分新玉米成交价在</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2150-2160</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨，整体再涨</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">5-10</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨，港口库存接近</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">40</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">万吨，上周采购数量</SPAN><SPAN style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">较多，但随着节前备货陆续结束，港内库存及到货压力犹在。郑州强筋小麦出库价</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2330</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨，持平；江西</SPAN><SPAN style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">九江早稻收购价</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2100</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨，水分≤</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">3.5%</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">库存方面：玉米仓单为</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1199</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">张，郑州强麦仓单为</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">12846</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">张，早籼稻仓单为</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">7577</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">张。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">观点总结：港口玉米南强北弱，短期期价或延续区间震荡，操作上可采取低吸高抛策略；</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">WS1109</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">合约上方</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2830-2840</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">区间存在压力，短期不建议追多，震荡思路对待；缺乏基本面指引，早籼稻期价上下两难，短期建议观望或震荡思路对待。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p><FONT face="Times New Roman">&nbsp;</FONT></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">5 </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">大豆豆粕</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p><FONT face="Times New Roman">&nbsp;</FONT></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">消息要点：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">、中国代表团结束历史上最大一次的美国大豆采购活动，此次签署的大豆贸易协议总价值</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">67</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">亿美元，相当于去年总贸易量的近半数。需要指出的是，这些协议只是意向性的合约，具体的执行价格和数量并不确定。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">、</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">CFTC</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">持仓报告显示商品基金继续增持大豆期货净多单。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">外盘：美豆期价走低，阿根廷地区天气好转使得多头交易商选择获利了结，但出口销售数据良好抑制了期价的跌幅。美豆</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">3</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"><SPAN style="mso-spacerun: yes">&nbsp; </SPAN>1404.5<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>-7.75<o:p></o:p></FONT></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">现货市场：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">、哈尔滨地区油厂大豆收购报价</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">3820-3860</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨，大连港口的进口大豆价格能在</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">4250</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨以上。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">、豆粕现货平稳为主，山东地区价格在</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">3500</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨，广东地区价格报在</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">3600</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨。节日气氛渐浓，油厂开始陆续停产放假，贸易商反映市场购销也相当清淡。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">天气：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">、阿根廷地区降雨很大程度上缓解了旱情。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">、巴西除北部过于潮湿和南部过于干旱产区外，天气整体有利作物生长。。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">盘面分析：国内盘面走高，在连续两个交易日下跌后，期价反弹，从走势看，期价仍处于调整之中。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">操作建议：上涨的格局没有改变，操作上目前仍可继续持有前期的多单，短线熟练者可选择高位减仓，低位接回的操作策略，总体仓位不必增加。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: center" align=center><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">化工品<SPAN lang=EN-US><o:p></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">1</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> PTA<o:p></o:p></FONT></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">消息面：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">NYMEX</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">原油下跌，因沙特石油部长言论引发增产忧虑，</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">NYMEX 3</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月原油期货下跌</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1.24</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">美元，收报</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">87.87</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">美元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">桶。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">、中石化公布</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月份合同结算价：半光切片</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">12500</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨、有光切片</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">12500</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨、工业丝级</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">12500</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨、全消光长丝级</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">13300</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">3</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">、我国</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">12</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月聚酯实际产量</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">86.5</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">万吨，与去年同月减少</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">15.4%</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">。今年</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1-12</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月聚酯累计产量</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1189.1</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">万吨，同比增长</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2.7%</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">现货价格：华东</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">PTA</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">市场现货气氛清淡，大多仍封盘不对外报价，少量报盘在</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">11200-11300</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨附近，持货商大多较为谨慎，低价惜售，市场未有成交听闻。亚洲</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">PTA</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">现货气氛清淡，少有报盘，个别听闻台产货报盘在</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1450</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">美元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨附近，买家询盘问市不少，但少有购买意向，实盘稀少。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">库存数据：交易所仓单为</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">12061</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">张，与上一交易日持平。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt; TEXT-INDENT: 24pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">观点总结：亚洲</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">PX</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">价格保持强势，国内主流</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">PTA</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">供应商</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月合同结算价出台为</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">10750</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨；现货市场报价坚挺，贸易商均做封盘处理，下游呈现观望，气氛清淡。江浙涤纶丝整体多数稳定，受天气影响，产销较为清淡；聚酯切片高位震荡，货源偏紧加之大雪运输不便部分工厂暂不报价，买盘偏淡。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">PTA1105</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">合约封于涨停，期价高开后快速拉升至涨停，持仓继续增加，短线将进一步测试前期高点。操作上，回落短多交易为主。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt; TEXT-INDENT: 24pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p><FONT face="Times New Roman">&nbsp;</FONT></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2 </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">沪油</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">外盘走势：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">NYMEX</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">原油期货收低，因沙特石油部长言论引发增产忧虑。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">NYMEX 3</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月原油期货合约收跌</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">124</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">美分或</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1.4%</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">，至每桶</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">87.87</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">美元，为该合约自</SPAN><st1:chsdate w:st="on" IsROCDate="False" IsLunarDate="False" Day="16" Month="12" Year="2011"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">12</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">16</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">日</SPAN></st1:chsdate><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">以来最低收盘水准。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">消息方面：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"><SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp; </SPAN>1</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">、</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2010</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">年，我国石油进口量大幅增长，原油净进口量首次突破</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">亿吨，对外依存度超过</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">55%</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"><SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp; </SPAN>2</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">、</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">CFTC</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">公布的报告显示，投机客上周削减在美国原油期货上的净多头头寸。数据显示，截至</SPAN><st1:chsdate w:st="on" IsROCDate="False" IsLunarDate="False" Day="18" Month="1" Year="2011"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">18</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">日</SPAN></st1:chsdate><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">当周，投机客持有的</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">NYMEX</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">原油净多头头寸降至</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">191,203</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">手，前一周为</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">195,665</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">手。当周，近月美国原油价格从每桶</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">91.11</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">美元微幅上涨至每桶</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">91.38</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">美元。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">现货方面：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">24</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">日黄埔到岸价，新加坡高硫</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">180</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">美金价</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">554.10</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">美元，到岸贴水</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">14.5-15.5</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">美元，新加坡高硫</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">380</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">美金价</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">548.27</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">美元。华南混调油最新交易估价：船用混调</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">180</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">交易过驳价至</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">4630-4640</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨；库提价</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">4640-4650</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨，均价持平，国产锅炉用混调</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">180CST</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">交易价至</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">4400-4450</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨，均价持平。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt; TEXT-INDENT: 24pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">观点总结：国际原油延续回调走势，跌至</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">90</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">美元关口下方，对燃料油市场走势有所压制；华东燃料油市场延续清淡，船用油需求回归平静，贸易商出货以优惠为主，油浆需求一般；华南地区燃料油报价暂以稳抗跌，市场暂未有实际交易达成，渣油非标油市场依然挺稳，市场成交氛围冷清。沪油</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1105</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">合约小幅收跌，期价位于</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">4780</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">一线窄幅整理，上方面临</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">5</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">日线压力，延续弱势震荡局面。操作上，短线交易为主。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt; TEXT-INDENT: 24pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p><FONT face="Times New Roman">&nbsp;</FONT></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">3</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">连塑</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">消息面：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">、</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2011</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">年中国将继续进口大量石化产品</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> 2</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">、</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2010</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">年中国乙烯产量同比增长</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">31.7%<o:p></o:p></FONT></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">现货市场：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> LLDPE</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">现货价格保持平稳。扬子石化</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">DFDA-7042</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">报</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">11300</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">，与昨日持平。亚洲乙烯继续小幅攀升。东北亚乙烯报</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1264</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">——</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1276</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">美元，东南亚乙烯报</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1140</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">——</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1142</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">美元，均涨</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">10</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">美元。市场交投清淡。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">仓单库存：交易所仓单报</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">22298</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">张，较昨日减少</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">67</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">张</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">观点总结：昨日连塑依托</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">20</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">日均线大幅反弹，成交量也明显放大，显示市场人气有所恢复。基本面上，亚洲乙烯价格稳步攀升对连塑形成一定的支撑。但下游需求不振、现货市场成交低迷对</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">LLDPE</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">形成打压，预计连塑上行空间不大，节前将延续区间整理格局，操作上建议投资者以日内交易为主。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p><FONT face="Times New Roman">&nbsp;</FONT></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">4<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>PVC<o:p></o:p></FONT></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">消息面：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">、保障房建设提速</SPAN><SPAN style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">中国住房双轨制逐步确立</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"><SPAN style="mso-spacerun: yes">&nbsp; </SPAN>2</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">、产能过剩严重</SPAN><SPAN style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">纯碱行业竞争环境恶劣</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">现货市场：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">PVC</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">现货价格保持平稳。华东地区乙烯法</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">PVC</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">报</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">8200</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元，电石法</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">PVC</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">报</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">7800</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元，西北电石报</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">3700</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元华东电石报</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">4000</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元，均与上一交易日持平。市场观望气氛较浓。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-tab-count: 1"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">仓单库存：交易所仓单报</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">7530</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">张，较昨日减少</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">360</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">张</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">观点总结：昨日</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">PVC</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">小幅反弹，成交量与持仓量均明显回升，显示</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">8000</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元一线的支撑仍较为有力。基本面上，亚洲乙烯价格稳步攀升对</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">PVC</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">产生一定的支撑，但下游需求疲软、交易所仓单快速回升对</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">PVC</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">形成一定的制约，预计</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">PVC</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">短期将延续区间震荡格局。操作上，建议投资者以日内交易为主。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p><FONT face="Times New Roman">&nbsp;</FONT></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">5 </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">天胶</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">外盘走势：昨日</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">TOCOM</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">橡胶继续震荡上行，在刷新近期高点后受获利盘打压而略有回落。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">6</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月合约报收于</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">482.1</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">日元，涨</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">4.5</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">日元。经连续上涨后，橡胶短线有一定的调整要求，建议短线投资者手中多单可先获利了结，待其回落到</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">463</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">日元一线再重新介入多单。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">消息面：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">、中国</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">12</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月橡胶及其制品进口量为</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">46.09</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">万吨；</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">、未来五年轮胎翻新率将大幅提高</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">现货市场：上海市场橡胶现货价格大幅走高。云南国标一号胶报</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">41000</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元，涨</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">700</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元。泰国</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">3#</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">烟片胶封盘不报。合成橡胶走势相对平稳。顺丁橡胶</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">BR9000</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">报</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">31200</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元，丁苯橡胶</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1502</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">报</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">24000</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">元</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">,</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">均与昨日持平。市场成交不活跃。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">亚洲主产区天气</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">泰国</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">曼谷</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">阴</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"><SPAN style="mso-spacerun: yes">&nbsp;&nbsp; </SPAN>32</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">℃～</SPAN><st1:chmetcnv TCSC="0" NumberType="1" Negative="False" HasSpace="False" SourceValue="23" UnitName="℃" w:st="on"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">23</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">℃</SPAN></st1:chmetcnv><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">风力：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> 4</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">级转</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">3</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">级</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">越南</SPAN><SPAN style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> <SPAN lang=EN-US><SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp;&nbsp;</SPAN></SPAN></FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">河内</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">阴</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"><SPAN style="mso-spacerun: yes">&nbsp;&nbsp; </SPAN>14</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">℃～</SPAN><st1:chmetcnv TCSC="0" NumberType="1" Negative="False" HasSpace="False" SourceValue="11" UnitName="℃" w:st="on"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">11</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">℃</SPAN></st1:chmetcnv><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">风力：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> 2</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">级</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">胡志明市</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">雷阵雨</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp; </FONT></SPAN><st1:chmetcnv TCSC="0" NumberType="1" Negative="False" HasSpace="False" SourceValue="31" UnitName="℃" w:st="on"><FONT face="Times New Roman">31</FONT><SPAN lang=EN-US style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''"><SPAN lang=EN-US>℃</SPAN></SPAN></st1:chmetcnv><SPAN lang=EN-US style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">～</SPAN><st1:chmetcnv TCSC="0" NumberType="1" Negative="False" HasSpace="False" SourceValue="21" UnitName="℃" w:st="on"><FONT face="Times New Roman">21</FONT><SPAN lang=EN-US style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''"><SPAN lang=EN-US>℃</SPAN></SPAN></st1:chmetcnv><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">风力：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> 3</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">级</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">马来西亚</SPAN><SPAN style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吉隆坡</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">雷阵雨</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"><SPAN style="mso-spacerun: yes">&nbsp;&nbsp; </SPAN>32</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">℃～</SPAN><st1:chmetcnv TCSC="0" NumberType="1" Negative="False" HasSpace="False" SourceValue="23" UnitName="℃" w:st="on"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">23</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">℃</SPAN></st1:chmetcnv><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">风力：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> 2</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">级转</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">级</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">印尼</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">雅加达</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">雷阵雨</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"><SPAN style="mso-spacerun: yes">&nbsp;&nbsp; </SPAN>29</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">℃～</SPAN><st1:chmetcnv TCSC="0" NumberType="1" Negative="False" HasSpace="False" SourceValue="24" UnitName="℃" w:st="on"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">24</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">℃</SPAN></st1:chmetcnv><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">风力：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> 2</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">级</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">仓单库存：交易所仓单报</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">46525</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨，较昨日减少</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2585</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">吨。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">观点总结：昨日天胶上行遇阻，减仓下行，显示部分获利盘已了结。场内气氛较为谨慎。基本面上：橡胶供应偏紧、现货价格持续走高对天胶形成有力的支撑。预计短线回落的空间不大，投资者待其回落至五日均线处逢低买多，设十日均线为止损位谨慎持有。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p><FONT face="Times New Roman">&nbsp;</FONT></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt; TEXT-INDENT: 24pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p><FONT face="Times New Roman">&nbsp;</FONT></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 12pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体"><o:p>&nbsp;</o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 12pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体"><o:p>&nbsp;</o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: center" align=center><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">股指期货</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: center" align=center><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p><FONT face="Times New Roman">&nbsp;</FONT></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">瑞达期货</SPAN><SPAN style="FONT-SIZE: 12pt"><FONT face="Times New Roman"> </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">股指早盘评论</SPAN><st1:chsdate w:st="on" IsROCDate="False" IsLunarDate="False" Day="25" Month="1" Year="2011"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">25</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">日</SPAN></st1:chsdate><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p><FONT face="Times New Roman">&nbsp;</FONT></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">瑞达期货：多空对峙，期指持续弱势震荡</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p><FONT face="Times New Roman">&nbsp;</FONT></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">外盘表现：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">外盘指数</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"><SPAN style="mso-tab-count: 2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </SPAN><SPAN style="mso-spacerun: yes">&nbsp;&nbsp; </SPAN></FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">收盘</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"><SPAN style="mso-tab-count: 1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </SPAN><SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp;&nbsp; </SPAN></FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">涨跌</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">涨幅</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">道琼斯</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"><SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </SPAN>11980.52<SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp; </SPAN>108.68<SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp; </SPAN>0.92%<o:p></o:p></FONT></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">纳斯达克</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"><SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </SPAN>2717.55<SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp;&nbsp; </SPAN>28.01<SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp; </SPAN>1.04%<o:p></o:p></FONT></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">标普</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">500<SPAN style="mso-tab-count: 1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </SPAN><SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </SPAN>1290.84<SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </SPAN>7.49<SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp; </SPAN>0.58%<o:p></o:p></FONT></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">富时</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">100<SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </SPAN>5943.85<SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp;&nbsp; </SPAN>47.60<SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp; </SPAN>0.81%<o:p></o:p></FONT></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">德国</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">DAX<SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </SPAN>7067.77<SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </SPAN>5.35<SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp; </SPAN>0.08%<o:p></o:p></FONT></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">法国</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">CAC40<SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </SPAN>4033.21<SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp;&nbsp; </SPAN>15.76<SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp; </SPAN>0.39%<o:p></o:p></FONT></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">C0MEX</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">黄金</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"><SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </SPAN>1344.50<SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </SPAN>2.60<SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp; </SPAN>0.19%<o:p></o:p></FONT></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">NYMEX</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">原油</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"><SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </SPAN>87.87<SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp;&nbsp; </SPAN>-1.24<SPAN style="mso-spacerun: yes">&nbsp;&nbsp; </SPAN>-1.39%<o:p></o:p></FONT></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">美元指数</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman"><SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </SPAN>78.027<SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp; </SPAN>-0.098<SPAN style="mso-spacerun: yes">&nbsp;&nbsp; </SPAN>-0.13%<o:p></o:p></FONT></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">小结：周一美国股市大幅收阳，道指创下两年半新高，并于</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2008</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">年中以来首次逼近</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">12000</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">点关口。投资者对本周将公布的财报和奥巴马的国情咨文持乐观预期，并且工业行业传出了一些并购消息，激励股市上扬。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p><FONT face="Times New Roman">&nbsp;</FONT></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">消息面：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1. </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">央行与银监会高度一致：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2011</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">年信贷调控收紧；银监会将重启日度监控。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2. </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">资源税改革时间表已落定，将在未来五年全面实施；</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">3.</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">中央施压地方楼市调控：不限购就约谈；调控已迅速蔓延二三线</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">30</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">个城市；</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">4. </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">央行四年后重启逆回购，</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">3000</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">亿紧急舒缓流动性；</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">5. </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">基金去年四季度盈利</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1280</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">亿，全部偏股基金年底全面加仓；</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">6. </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">周小川：强化宏观审慎政策，养老金将成发展直接融资主力；</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">7. </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">全球通胀担忧情绪增强，欧洲央行行长暗示升息；</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">8. </FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">法国总统萨科齐：美元将维持主要地位，通货膨胀压力及提振国内消费的需求将促使中国允许人民币升值；</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">9.</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">标准普尔警告：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2011</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">年美国州及地方政府债券评级遭下调的情况可能增加。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p><FONT face="Times New Roman">&nbsp;</FONT></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">持仓分析：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">IF1101</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">上周五到期交割，</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">IF1109</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">合约上市。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">周一前</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">20</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">名多头主力持单（</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">IF1102</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">合约）</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">15200</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">手，空头主力持仓</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">19131</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">手，净空持仓</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">3931</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">手，净空持仓增加</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">74</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">手。其中：前</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">5</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">名主力机构（持仓近</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1000</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">手及以上）净空持仓</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">6608</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">手。较前几日，昨日主力持仓举动若显平静，多空双方均小幅增仓并继续对峙。整体来看，空头仍占据优势。在空头打压下，市场仍处在震荡偏弱格局，后市走势不容乐观。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p><FONT face="Times New Roman">&nbsp;</FONT></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">瑞达研究院观点：</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">周一</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">IF1102</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">合约收盘报</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2970.2</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">点，预计周二</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">IF1102</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">期货合约的区间在</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">3025-2950</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">之间运行，如上方冲破</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">3025</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">点可以小多，止损上设</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">15</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">个点；如下方破点</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">2950</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">可以介入空单，止损上设</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">15</FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">个点。如在区间内窄幅震荡，可以高空低多策略。</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p><FONT face="Times New Roman">&nbsp;</FONT></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">合约名称</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">强阻力位</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">阻力位</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">支撑位</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">强支撑位</SPAN><SPAN lang=EN-US style="FONT-SIZE: 12pt"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">HS 300<SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp;&nbsp; </SPAN>3055<SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </SPAN>3000<SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </SPAN>2935<SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </SPAN>2890<o:p></o:p></FONT></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">IF1102<SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp;&nbsp; </SPAN>3085<SPAN style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp;&nbsp

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