<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> </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 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 style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">黄金<SPAN lang=EN-US><BR></SPAN>外盘:本周三因以色列称伊朗正向地中海派出军舰,为此,紧张的中东局势加剧了市场避险需求,纽约商业交易所黄金期货合约收盘上涨。其中,<SPAN lang=EN-US>4</SPAN>月期金合约上涨<SPAN lang=EN-US>1</SPAN>美元,收于<SPAN lang=EN-US>1,375.10</SPAN>美元<SPAN lang=EN-US>/</SPAN>盎司。<SPAN lang=EN-US><BR><BR></SPAN>消息方面:本周三公布的数据显示,<SPAN lang=EN-US> </SPAN>美国<SPAN lang=EN-US>1</SPAN>月生产者物价指数月比上升<SPAN lang=EN-US>0.8%</SPAN>预期中值月升<SPAN lang=EN-US>0.8% </SPAN>美国<SPAN lang=EN-US>1</SPAN>月生产者物价指数年比上升<SPAN lang=EN-US>3.6%</SPAN>预期中值年升<SPAN lang=EN-US>3.5% </SPAN>,其中<SPAN lang=EN-US>1</SPAN>月除食品和能源的<SPAN lang=EN-US>PPI</SPAN>月率升幅为<SPAN lang=EN-US>2008</SPAN>年<SPAN lang=EN-US>10</SPAN>月来最大,另外以色列正派遣军舰驶入地中海的消息传出后,地缘政治风险及通胀升温推动国际金价稳步走高。另外世界最大黄金<SPAN lang=EN-US>ETF SPDR</SPAN>持仓量<SPAN lang=EN-US>1224.01</SPAN>吨,小幅减仓<SPAN lang=EN-US>1.52</SPAN>吨。<SPAN lang=EN-US><BR></SPAN>现货方面:上海黄金<SPAN lang=EN-US>9999</SPAN>收盘报<SPAN lang=EN-US>292.83</SPAN>元<SPAN lang=EN-US>/</SPAN>克,上涨<SPAN lang=EN-US>1.88</SPAN>元<SPAN lang=EN-US>/</SPAN>克,成交<SPAN lang=EN-US>5642</SPAN>手<SPAN lang=EN-US><BR></SPAN>观点总结:本周各国公布的系列通胀数据显示未来通胀水平有进一步恶化迹象,推动金价离开前期<SPAN lang=EN-US>1370-1350</SPAN>盘整空间再次抬头上攻,短期来看,前期阻力<SPAN lang=EN-US>1370</SPAN>一线已转为近期强有力支撑,如中东局势及阿拉伯反政府运动再度扩散恶化,金价将在避险资金涌入的推动下再次冲击<SPAN lang=EN-US>1400</SPAN>关口,本周金价目标维持<SPAN lang=EN-US>1390-1400</SPAN>。预计沪金<SPAN lang=EN-US>1106</SPAN>合约今日将维持近期强势表现,投资者可继续逢低吸纳,参考波动:<SPAN lang=EN-US>295-297</SPAN>,沪金上涨目标:<SPAN lang=EN-US>298-300<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"><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">2 </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><BR></SPAN>外盘:隔夜,伦锌冲高回落,缩减盘中涨幅,成交量温和放大,电<SPAN lang=EN-US>3</SPAN>合约收报于<SPAN lang=EN-US>2494</SPAN>美元,涨幅<SPAN lang=EN-US>0.81%</SPAN>;伦铝小幅反弹,盘中一度跌至<SPAN lang=EN-US>20</SPAN>日均线之下,电<SPAN lang=EN-US>3</SPAN>合约收报于<SPAN lang=EN-US>2509</SPAN>美元,涨幅<SPAN lang=EN-US>0.68%</SPAN>。<SPAN lang=EN-US><BR><BR></SPAN>消息方面:<SPAN lang=EN-US>1.</SPAN>美联储上调<SPAN lang=EN-US>2011</SPAN>年<SPAN lang=EN-US>GDP</SPAN>增长率预期<SPAN lang=EN-US> 2.</SPAN>美国<SPAN lang=EN-US>1</SPAN>月新屋开工月升<SPAN lang=EN-US>14.6%<BR><BR></SPAN>现货方面:上海现货<SPAN lang=EN-US>0#</SPAN>锌报<SPAN lang=EN-US>18750-18850</SPAN>元<SPAN lang=EN-US>/</SPAN>吨,较上交易日下跌<SPAN lang=EN-US>200</SPAN>元<SPAN lang=EN-US>/</SPAN>吨,贴水<SPAN lang=EN-US>700-</SPAN>贴水<SPAN lang=EN-US>600</SPAN>元<SPAN lang=EN-US>/</SPAN>吨;<SPAN lang=EN-US>1#</SPAN>锌报<SPAN lang=EN-US>18700-18800</SPAN>元<SPAN lang=EN-US>/</SPAN>吨,跌<SPAN lang=EN-US>200</SPAN>元<SPAN lang=EN-US>/</SPAN>吨,贴水<SPAN lang=EN-US>750-</SPAN>贴水<SPAN lang=EN-US>650</SPAN>元<SPAN lang=EN-US>/</SPAN>吨。<SPAN lang=EN-US>A00 </SPAN>铝报在<SPAN lang=EN-US>16770-16790</SPAN>元<SPAN lang=EN-US>/</SPAN>吨,下跌<SPAN lang=EN-US>10</SPAN>元<SPAN lang=EN-US>/</SPAN>吨,贴水<SPAN lang=EN-US>120-</SPAN>贴水<SPAN lang=EN-US>100</SPAN>元<SPAN lang=EN-US>/</SPAN>吨。<SPAN lang=EN-US><BR><BR></SPAN>库存方面:<SPAN lang=EN-US>LME</SPAN>锌库存为<SPAN lang=EN-US>708925</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>281511</SPAN>吨,增加<SPAN lang=EN-US>2174</SPAN>吨。<SPAN lang=EN-US>LME</SPAN>铝库存为<SPAN lang=EN-US>4597925</SPAN>吨,较上交易日减少<SPAN lang=EN-US>2300</SPAN>吨,上海交易所铝期现货库存为<SPAN lang=EN-US>274307</SPAN>吨,减少<SPAN lang=EN-US>524</SPAN>吨。<SPAN lang=EN-US><BR><BR></SPAN>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>名净空单减少至<SPAN lang=EN-US>8000</SPAN>手以下;沪锌前<SPAN lang=EN-US>20</SPAN>名净空单减少至<SPAN lang=EN-US>2.3</SPAN>万手左右。技术显示,沪锌、沪铝向上试探前高阻力的可能性加大。操作建议:沪锌多单持有,破<SPAN lang=EN-US>18900</SPAN>止损;沪铝多单持有,止损位<SPAN lang=EN-US>17050</SPAN>。<SPAN lang=EN-US><BR style="mso-special-character: line-break"><BR style="mso-special-character: line-break"><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"><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">3 </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><BR> </SPAN>外盘:隔夜伦铜自亚洲市的<SPAN lang=EN-US>9992</SPAN>继续大幅回落,最低跌至<SPAN lang=EN-US>9815</SPAN>美元<SPAN lang=EN-US>/</SPAN>吨,尾盘跌<SPAN lang=EN-US>1.05%</SPAN>至<SPAN lang=EN-US>9850</SPAN>美元<SPAN lang=EN-US>/</SPAN>吨,目前铜价在<SPAN lang=EN-US>20</SPAN>日均线处受到支撑,但其支撑力度仍需接受考验。<SPAN lang=EN-US><BR> </SPAN>消息方面:美国<SPAN lang=EN-US>1</SPAN>月新屋开工上升<SPAN lang=EN-US>14.6%</SPAN>,年率为<SPAN lang=EN-US>59.6</SPAN>万户,为去年<SPAN lang=EN-US>9</SPAN>月以来的最高,之前市场预估为<SPAN lang=EN-US>54</SPAN>万户。期铜被广泛用于建筑行业,此数据利多铜价。<SPAN lang=EN-US><BR> </SPAN>现货方面:上海金属网铜现货报价为<SPAN lang=EN-US>74100-74400</SPAN>,下跌<SPAN lang=EN-US>650</SPAN>元<SPAN lang=EN-US>/</SPAN>吨,贴水<SPAN lang=EN-US>350</SPAN>,在下跌行情中,现货由升水转为贴水,表明现货抗跌性较差,下跌意愿强;内外比价为<SPAN lang=EN-US>7.57-7.60</SPAN>,在昨日伦铜大跌的背景下,今日两市比价自昨日出现回升,表明内盘抗跌性较强。<SPAN lang=EN-US> <BR> </SPAN>库存:<st1:chsdate w:st="on" IsROCDate="False" IsLunarDate="False" Day="16" Month="2" Year="2011"><SPAN lang=EN-US>2</SPAN>月<SPAN lang=EN-US>16</SPAN>日</st1:chsdate>伦铜库存为<SPAN lang=EN-US>405800</SPAN>,较昨日增加<SPAN lang=EN-US>3375</SPAN>,目前注销仓单为<SPAN lang=EN-US>13575</SPAN>,连续第四日增加,但注销仓单占比为<SPAN lang=EN-US>3.34%</SPAN>,仍处于较低水平,暗示后期库存有增加可能。<SPAN lang=EN-US> <BR> </SPAN>观点总结:隔夜伦铜连续第二日冲高回落,表现其上涨动能缺乏,但前日在铜价下跌之际,伦铜持仓量大幅增加<SPAN lang=EN-US>9259</SPAN>,表明投资者逢低大举买入期铜,投资性需求的增加料限制铜价下跌空间。虽然近期伦铜库存不断增加,带来了短期的不利影响,但其库存存在着上半年增加的季节性特征,铜价的走势料主要受到沪铜的指引。因每年的第一季度是中国铜的消费旺季,因此对于铜的未来走势,仍可以继续保持逢低买入思路。今日沪铜料开至<SPAN lang=EN-US>74800</SPAN>附近,下方继续关注<SPAN lang=EN-US>73500-74500</SPAN>区间的支撑。<SPAN lang=EN-US><BR style="mso-special-character: line-break"><BR style="mso-special-character: line-break"><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"><o:p> </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">4</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> <BR> </SPAN>现货市场:<SPAN lang=EN-US> <st1:chmetcnv TCSC="0" NumberType="1" Negative="False" HasSpace="False" SourceValue="8" UnitName="mm" w:st="on">8mm</st1:chmetcnv> Q235</SPAN>高线上海报价<SPAN lang=EN-US>4930</SPAN>元<SPAN lang=EN-US>/</SPAN>吨,持平;<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>5080</SPAN>元<SPAN lang=EN-US>/</SPAN>吨,持平。<SPAN lang=EN-US> <BR> </SPAN>消息:<SPAN lang=EN-US>(1) </SPAN>工信部:<SPAN lang=EN-US>2011</SPAN>年粗钢消费<SPAN lang=EN-US>6.3</SPAN>亿,铁矿石进口<SPAN lang=EN-US>6</SPAN>亿吨左右;<SPAN lang=EN-US>(2) </SPAN>库存充足,南方部分钢厂下调焦炭采购价;<SPAN lang=EN-US>(3) </SPAN>中钢协:<SPAN lang=EN-US>1</SPAN>月粗钢日均产量达<SPAN lang=EN-US>170.3</SPAN>万吨,环比上升;<SPAN lang=EN-US>(4) </SPAN>印度粉矿<st1:chsdate w:st="on" IsROCDate="False" IsLunarDate="False" Day="16" Month="2" Year="2011"><SPAN lang=EN-US>2</SPAN>月<SPAN lang=EN-US>16</SPAN>日</st1:chsdate><SPAN lang=EN-US>CIF</SPAN>指数<SPAN lang=EN-US>196</SPAN>美元<SPAN lang=EN-US>/</SPAN>吨,持平。<SPAN lang=EN-US> <BR> </SPAN>库存:上海交易所螺纹钢仓单日报为<SPAN lang=EN-US>7154</SPAN>吨,持平。线材仓单日报为<SPAN lang=EN-US>0</SPAN>,持平。<SPAN lang=EN-US> <BR> </SPAN>小结:周三<SPAN lang=EN-US>RB1110</SPAN>合约继续回落,基本面上通胀压力加大、国家调控的预期增强及各地开始实施房产调控新政,致使期钢高位承压,但后市成本支撑仍是市场关键。操作上建议,关注<SPAN lang=EN-US> 20</SPAN>日线支撑力度,多单尝试,止损<SPAN lang=EN-US>5050</SPAN>。<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"><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"><SPAN style="mso-spacerun: yes"><FONT face="Times New Roman"> </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''">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 12pt"><SPAN lang=EN-US style="FONT-SIZE: 12pt"><FONT face="Times New Roman">1 <SPAN style="mso-spacerun: yes"> </SPAN></FONT></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">白糖<SPAN lang=EN-US><BR></SPAN>外盘:<SPAN lang=EN-US><BR> </SPAN>由于市场方面认为三个交易日糖价跌的太多,在低位买盘踊跃的推动下,本周三<SPAN lang=EN-US>ICE</SPAN>糖市原糖期货价格全线暴涨,近期<SPAN lang=EN-US> </SPAN>合约领涨。当日<SPAN lang=EN-US>1103</SPAN>期约糖价暴涨<SPAN lang=EN-US>95</SPAN>个点(<SPAN lang=EN-US>+3.1%</SPAN>),收于<SPAN lang=EN-US>34.77</SPAN>美分<SPAN lang=EN-US>/</SPAN>磅,盘中<SPAN lang=EN-US>1103</SPAN>期约糖价一度突破<SPAN lang=EN-US>32</SPAN>美分<SPAN lang=EN-US>/</SPAN>磅,至<SPAN lang=EN-US>32.35 </SPAN>美分<SPAN lang=EN-US>/</SPAN>磅的高点;<SPAN lang=EN-US>1105</SPAN>期约糖价同时暴涨<SPAN lang=EN-US>101</SPAN>个点(<SPAN lang=EN-US>+3.6%</SPAN>)<SPAN lang=EN-US>,</SPAN>以<SPAN lang=EN-US>29.22</SPAN>美分<SPAN lang=EN-US>/</SPAN>磅报收。<SPAN lang=EN-US><BR></SPAN>基本面消息:<SPAN lang=EN-US><BR> 1</SPAN>、欧盟食糖库存量或降至历史低点<SPAN lang=EN-US><BR> 2</SPAN>、甜菜减产,英国糖业将关闭四家糖厂<SPAN lang=EN-US><BR></SPAN>国内现货:<SPAN lang=EN-US><BR> </SPAN>国内现货小幅下调,南宁报<SPAN lang=EN-US>7280</SPAN>(新糖)。<SPAN lang=EN-US><BR></SPAN>库存仓单(张):<SPAN lang=EN-US>4580</SPAN>,有效预报<SPAN lang=EN-US>1750</SPAN>。<SPAN lang=EN-US><BR></SPAN>国内主产区天气情况:<SPAN lang=EN-US><BR> </SPAN>今天白天到晚上,全区阴天大部有小雨。其中桂林、贺州等市局部有中雨。今天早晨桂西、桂南部分地区有雾。最低气温:桂北<SPAN lang=EN-US> 4</SPAN>~<st1:chmetcnv TCSC="0" NumberType="1" Negative="False" HasSpace="False" SourceValue="8" UnitName="℃" w:st="on"><SPAN lang=EN-US>8℃</SPAN></st1:chmetcnv>,桂南<SPAN lang=EN-US>9</SPAN>~<st1:chmetcnv TCSC="0" NumberType="1" Negative="False" HasSpace="False" SourceValue="12" UnitName="℃" w:st="on"><SPAN lang=EN-US>12℃</SPAN></st1:chmetcnv>。<SPAN lang=EN-US> </SPAN>南宁市<SPAN lang=EN-US>:</SPAN>今天白天到晚上,阴天有小雨,偏东风<SPAN lang=EN-US>1-2</SPAN>级,最高气温<st1:chmetcnv TCSC="0" NumberType="1" Negative="False" HasSpace="False" SourceValue="13" UnitName="℃" w:st="on"><SPAN lang=EN-US>13℃</SPAN></st1:chmetcnv>,最低气温<st1:chmetcnv TCSC="0" NumberType="1" Negative="False" HasSpace="False" SourceValue="9" UnitName="℃" w:st="on"><SPAN lang=EN-US>9℃</SPAN></st1:chmetcnv>。<SPAN lang=EN-US> <BR></SPAN>郑糖盘面:<SPAN lang=EN-US><BR> </SPAN>郑糖<SPAN lang=EN-US>1109</SPAN>合约探低回升,受股市强势影响,<SPAN lang=EN-US>7400</SPAN>以下买盘支撑明显。短期多空僵持,高位震荡势特征仍难摆脱。操作<SPAN lang=EN-US> </SPAN>上,趋势操作观望为宜,日内为主。<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> </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">2<SPAN style="mso-spacerun: yes"> </SPAN></SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">谷物:<SPAN lang=EN-US><BR> </SPAN>外盘:周三<SPAN lang=EN-US>CBOT</SPAN>玉米期货市场收平,受周边市场溢出支撑,加上持续担忧供应紧张,玉米期价自前期<SPAN lang=EN-US> </SPAN>跌势中反弹。<SPAN lang=EN-US><BR> </SPAN>消息方面:<SPAN lang=EN-US>1</SPAN>、据美国<SPAN lang=EN-US>AgriSource</SPAN>公司对美国六个州的农户进行的调查结果,今年美国玉米播种面积可<SPAN lang=EN-US> </SPAN>能比上年增长<SPAN lang=EN-US>3.3%</SPAN>;<SPAN lang=EN-US>2</SPAN>、澳大利亚对中国的饲料小麦销售有望创历史新高;<SPAN lang=EN-US>3</SPAN>、最低收购价格上调,国内稻<SPAN lang=EN-US> </SPAN>米价格回暖。<SPAN lang=EN-US><BR> </SPAN>现货方面:由于市场看涨预期强烈,国内玉米现货价格继续走强。东北港口玉米成交清淡,价格坚挺<SPAN lang=EN-US> </SPAN>,大连港内玉米平舱报价仍在<SPAN lang=EN-US>2120</SPAN>元<SPAN lang=EN-US>/</SPAN>吨以上的水平,水分<SPAN lang=EN-US>15%</SPAN>;广东港口玉米价格走势坚挺,港内质量较<SPAN lang=EN-US> </SPAN>好的玉米主流成交价在<SPAN lang=EN-US>2230-2240</SPAN>元<SPAN lang=EN-US>/</SPAN>吨,但市场多数主体对后期价格看好的预期依然较强烈,眼下港口玉<SPAN lang=EN-US> </SPAN>米库存在<SPAN lang=EN-US>24</SPAN>万吨左右,预计未来一周时间内,港口将到货<SPAN lang=EN-US>17</SPAN>万吨。郑州强筋小麦出库价<SPAN lang=EN-US>2330</SPAN>元<SPAN lang=EN-US>/</SPAN>吨,持平;<SPAN lang=EN-US> </SPAN>江西九江早稻收购价<SPAN lang=EN-US>2100</SPAN>元<SPAN lang=EN-US>/</SPAN>吨,水分<SPAN lang=EN-US>≤3.5%</SPAN>。<SPAN lang=EN-US><BR> </SPAN>库存方面:玉米仓单为<SPAN lang=EN-US>1199</SPAN>张,郑州强麦仓单为<SPAN lang=EN-US>13027</SPAN>张,早籼稻仓单为<SPAN lang=EN-US>7056</SPAN>张。<SPAN lang=EN-US><BR> </SPAN>观点总结:现货报价走强支撑期价,玉米期价向上趋势未变,操作上可依托<SPAN lang=EN-US>10</SPAN>日均线逢低买入;北方部分地区降雪及美盘小麦企稳压制强麦期价继续上行,但期价在<SPAN lang=EN-US>3000</SPAN>一线支撑明显,短期或呈高位震荡态势;均线系统为<SPAN lang=EN-US>ER1109</SPAN>合约提供较好支撑,但上方<SPAN lang=EN-US>2700</SPAN>一线压力明显,短期或呈高位震荡态势。<SPAN lang=EN-US><BR style="mso-special-character: line-break"><BR style="mso-special-character: line-break"><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">3 </SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">油脂<SPAN lang=EN-US><BR> </SPAN>外盘:国际植物油价格强劲及需求前景利好提供豆油盘面支撑,<SPAN lang=EN-US>CBOT</SPAN>豆油下探回升,主力<SPAN lang=EN-US>3</SPAN>月收于<SPAN lang=EN-US>56.61</SPAN>美分<SPAN lang=EN-US>/</SPAN>磅;因植物油价格近几周超越基本面许多市场人士选择了结获利,<SPAN lang=EN-US>BMD</SPAN>棕榈油期货周三跌逾<SPAN lang=EN-US>3%</SPAN>,主力<SPAN lang=EN-US>5</SPAN>月合约跌<SPAN lang=EN-US>3.6%</SPAN>收于<SPAN lang=EN-US>3745</SPAN>马币令吉<SPAN lang=EN-US>/</SPAN>吨;投机基金重回市场,<SPAN lang=EN-US>ICE</SPAN>加拿大油菜籽期货小幅上涨,主力<SPAN lang=EN-US> 3</SPAN>月收盘上涨<SPAN lang=EN-US>1.60</SPAN>加元,报收于<SPAN lang=EN-US>575.00</SPAN>加元<SPAN lang=EN-US>/</SPAN>公吨。<SPAN lang=EN-US><BR> </SPAN>消息:国际方面,油世界称,良好的天气条件预示着巴西<SPAN lang=EN-US> 2011</SPAN>年大豆产量可能增至纪录新高的<SPAN lang=EN-US>7100</SPAN>万吨,这一最新产量<SPAN lang=EN-US> </SPAN>预估较<st1:chsdate w:st="on" IsROCDate="False" IsLunarDate="False" Day="8" Month="2" Year="2011"><SPAN lang=EN-US>2</SPAN>月<SPAN lang=EN-US>8</SPAN>日</st1:chsdate>预估增加<SPAN lang=EN-US>100</SPAN>万吨。国内方面,从江苏泰州检验检<SPAN lang=EN-US> </SPAN>疫局获悉,从加拿大输华的<SPAN lang=EN-US>1</SPAN>万多吨菜籽油中检出甲苯、二甲苯<SPAN lang=EN-US> </SPAN>含量超标,不符合我国有关食品卫生标准要求,成功实施退运<SPAN lang=EN-US> </SPAN>处理。<SPAN lang=EN-US><BR> </SPAN>现货:昨日油脂现货继续下跌,跌幅在<SPAN lang=EN-US>50-100</SPAN>元<SPAN lang=EN-US>/</SPAN>吨左右水<SPAN lang=EN-US> </SPAN>平。沿海四级豆油约为<SPAN lang=EN-US>10300-10550</SPAN>元<SPAN lang=EN-US>/</SPAN>吨;港口棕榈油报价集<SPAN lang=EN-US> </SPAN>中在<SPAN lang=EN-US>10150-10500</SPAN>元<SPAN lang=EN-US>/</SPAN>吨;国内四级菜油出厂价格处于<SPAN lang=EN-US>10400- 10800</SPAN>元<SPAN lang=EN-US>/</SPAN>吨水平。<SPAN lang=EN-US><BR> </SPAN>仓单:豆油,<SPAN lang=EN-US>3201</SPAN>张;棕榈油,<SPAN lang=EN-US>0</SPAN>张;菜油,<SPAN lang=EN-US>14588</SPAN>张;均<SPAN lang=EN-US> </SPAN>无变化。<SPAN lang=EN-US><BR> </SPAN>观点总结:在<SPAN lang=EN-US>CBOT</SPAN>豆油冲击<SPAN lang=EN-US>60</SPAN>美分关口未果回落的影响下<SPAN lang=EN-US> </SPAN>,国内油脂也开始了高位震荡回落之途,短期操作震荡思路为<SPAN lang=EN-US> </SPAN>主。但长期行情依然趋于上行,建议油脂趋势多单根据投资者<SPAN lang=EN-US> </SPAN>自身情况继续持有,豆油多单止损价格可设在<SPAN lang=EN-US>10100-10150</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 lang=EN-US style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体"><o:p> </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">4 </SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">棉花<SPAN lang=EN-US><BR> </SPAN>外盘走势:<SPAN lang=EN-US>ICE</SPAN>期棉涨停<SPAN lang=EN-US>,3</SPAN>月合约的交割通知日将提前至周五,下周二交割,工厂急于将之前购买的未定价棉花<SPAN lang=EN-US>on-call</SPAN>合约的价格确定下来;<SPAN lang=EN-US>ICE-3</SPAN>月期棉合约上涨<SPAN lang=EN-US>7</SPAN>美分,报<SPAN lang=EN-US>197.02</SPAN>美分<SPAN lang=EN-US>/</SPAN>磅。<SPAN lang=EN-US><BR></SPAN>消息面:<SPAN lang=EN-US><BR> 1</SPAN>、北京棉花展望信息咨询有限责任公司公布的数据显示,中国<SPAN lang=EN-US>2010</SPAN>年棉花产量预计为<SPAN lang=EN-US>633</SPAN>万吨,这一数字较<SPAN lang=EN-US>2009</SPAN>年下降<SPAN lang=EN-US>7.6%</SPAN>。<SPAN lang=EN-US><BR> 2</SPAN>、印度国营棉花公司公布的数据显示,截至<st1:chsdate w:st="on" IsROCDate="False" IsLunarDate="False" Day="13" Month="2" Year="2011"><SPAN lang=EN-US>2</SPAN>月<SPAN lang=EN-US>13</SPAN>日</st1:chsdate>,印度现货市场的国内棉花到货量棉花到货量为<SPAN lang=EN-US>2150</SPAN>万包(<SPAN lang=EN-US>170</SPAN>公斤<SPAN lang=EN-US>/</SPAN>包),较上年度同期增长<SPAN lang=EN-US>5.9%</SPAN>,上年度同期为<SPAN lang=EN-US>2030</SPAN>万包。<SPAN lang=EN-US><BR> 3</SPAN>、<SPAN lang=EN-US>15</SPAN>日进口棉中国主港报价大幅下跌,多数品种的跌幅达到<SPAN lang=EN-US>3-4</SPAN>美分,部分<SPAN lang=EN-US>2011</SPAN>年度装运的美棉报价跟随<SPAN lang=EN-US>ICE</SPAN>期货远月合约下跌了<SPAN lang=EN-US>7</SPAN>美分,埃及吉扎上涨了<SPAN lang=EN-US>2</SPAN>美分。前几日,市场观望、没有成交使棉商连续上调报价明显心虚,此次价格下跌有助于缓解市场的紧张情绪。<SPAN lang=EN-US><BR> </SPAN>现货方面:棉花指数<SPAN lang=EN-US>328</SPAN>价格为<SPAN lang=EN-US>29830</SPAN>元<SPAN lang=EN-US>/</SPAN>吨,与上一交易日上涨<SPAN lang=EN-US>68</SPAN>元<SPAN lang=EN-US>/</SPAN>吨。<SPAN lang=EN-US><BR> </SPAN>仓单库存:交易所注册仓单为<SPAN lang=EN-US>275</SPAN>张,较上一交易日持平,有效预报为<SPAN lang=EN-US>359</SPAN>张。(每张对应棉花<SPAN lang=EN-US>40</SPAN>吨)。<SPAN lang=EN-US><BR> </SPAN>主产区天气:未来三天,受冷暖空气的共同影响,西北地区中东部、西藏大部、西南地区中北部和东部、江汉大部、江淮大部、江南、华南等地将有一次小到中雨(雪)或雨夹雪天气过程。<SPAN lang=EN-US><BR> </SPAN>观点总结:美国棉花市场供应趋紧激励买家进行回补,美棉出现涨停,后市将测试<SPAN lang=EN-US>2</SPAN>美元<SPAN lang=EN-US>/</SPAN>磅历史新高。<SPAN lang=EN-US>1</SPAN>月份纺织业出口维持快速增长,下游需求依旧旺盛。国内现货价格小幅上涨,纺织企业主要以询价为主,市场购买力不强,由于高等级棉稀缺,棉企惜售情绪较浓,期现价差维持在高位。郑棉<SPAN lang=EN-US>1109</SPAN>合约收涨,期价依托下方均线支撑增仓上行,短线测试前高<SPAN lang=EN-US>34390</SPAN>一线压力,中期维持上行趋势。操作上,依托<SPAN lang=EN-US>5</SPAN>周线多单持有。<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"><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">5 </SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">大豆豆粕<SPAN lang=EN-US><o:p></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><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>、由于巴西大豆开始上市,一些美豆订单被取消,这些取消的订单主要来自中国。<SPAN lang=EN-US>2</SPAN>、。<SPAN lang=EN-US>USDA</SPAN>预估<SPAN lang=EN-US>2011</SPAN>年农户将播种<SPAN lang=EN-US>2.553</SPAN>亿英亩,增加的播种面积主要来自于玉米和棉花。<SPAN lang=EN-US><o:p></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">外盘:美豆期价继续走低,期价触及<SPAN lang=EN-US>5</SPAN>周来的低点,但跌幅不大,美豆需求后期下滑引发交易商减持多头头寸。美豆<SPAN lang=EN-US>3</SPAN>月<SPAN lang=EN-US><SPAN style="mso-spacerun: yes"> </SPAN>1366<SPAN style="mso-spacerun: yes"> </SPAN>-2<o:p></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">现货市场:<SPAN lang=EN-US>1</SPAN>、目前核算<SPAN lang=EN-US>3</SPAN>月船期到港大豆价格在<SPAN lang=EN-US>4700</SPAN>元<SPAN lang=EN-US>/</SPAN>吨,成本价格较高。<SPAN lang=EN-US> 2</SPAN>、豆粕现货价格继续走低,各地价格下跌了<SPAN lang=EN-US>30-40</SPAN>元<SPAN lang=EN-US>/</SPAN>吨,山东地区价格达到<SPAN lang=EN-US>3450-3500</SPAN>元<SPAN lang=EN-US>/</SPAN>吨,江苏地区价格普遍在<SPAN lang=EN-US>3450</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 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">天气:<SPAN lang=EN-US>1</SPAN>、阿根廷中部大豆主产区的天气有利于大豆作物鼓粒,天气近期持续良好。<SPAN lang=EN-US> 2</SPAN>、巴西近期天气有利于作物生长,和早熟大豆的收割。<SPAN lang=EN-US><o:p></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">盘面分析:豆类期价连续两个交易大幅下跌,但盘中期价自低位的反弹显示出多头的力量开始复苏。豆粕持仓继续移向<SPAN lang=EN-US>1201</SPAN>合约,而大豆主力<SPAN lang=EN-US>1201</SPAN>合约在<SPAN lang=EN-US>4600</SPAN>处失而复得。<SPAN lang=EN-US><o:p></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">操作建议:期价短期下跌只能是改变期价走势的节奏,但未改变大豆豆粕上涨的趋势,操作上可继续持有前期的多单,短线熟练的交易者近期可选择短线进出,高平低买,降低成本的策略。<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"><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> </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; TEXT-ALIGN: center" align=center><SPAN lang=EN-US style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体"><o:p> </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">1</SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">连塑<SPAN lang=EN-US><BR> </SPAN>消息面:<SPAN lang=EN-US>1</SPAN>、中国<SPAN lang=EN-US>1</SPAN>月塑料制品出口量同比增<SPAN lang=EN-US>23.7% 2</SPAN>、中国成为意大利塑料橡胶加工机械第四出口国<SPAN lang=EN-US><BR> </SPAN>现货市场:<SPAN lang=EN-US>LLDPE</SPAN>现货价格相对平稳。扬子石化<SPAN lang=EN-US>DFDA-7042</SPAN>报<SPAN lang=EN-US>11300</SPAN>,与上一交易日持平。亚洲乙烯走势也保持平稳,东北亚报<SPAN lang=EN-US>1305——1307</SPAN>美元,东南亚乙烯报<SPAN lang=EN-US>1255——1257</SPAN>美元,均与昨日持平。市场成交一般。<SPAN lang=EN-US><BR> </SPAN>仓单库存:交易所仓单报<SPAN lang=EN-US>19595</SPAN>张,较昨日减少<SPAN lang=EN-US>120</SPAN>张。<SPAN lang=EN-US><BR> </SPAN>观点总结:昨日连塑弱势整理,盘面看,下方多条均线为其提供了有力的支撑。基本面上,原油连续大幅回落对其产生较大的压制,但亚洲乙烯价格坚挺,且目前即将进入农膜需求旺季,生产商有备货需要对连塑形成一定的支撑。预计短期回落的空间不大,下方<SPAN lang=EN-US>12050</SPAN>一线即有较强的支撑。操作上,建议投资者手中多单可以<SPAN lang=EN-US>12050</SPAN>一线为止损位继续谨慎持有,若期价以急跌方式回探<SPAN lang=EN-US>12050</SPAN>一线时,可小幅建多抢反弹。<SPAN lang=EN-US><BR style="mso-special-character: line-break"><BR style="mso-special-character: line-break"><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"><BR>2 PVC<BR> </SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">消息面:<SPAN lang=EN-US>1</SPAN>、业内专家表示,消费量持续上升,乙烯价格还会上涨<SPAN lang=EN-US> 2</SPAN>、新疆发改委决定在大部分地州实行统一高耗能电价<SPAN lang=EN-US><BR> </SPAN>现货市场:<SPAN lang=EN-US>PVC</SPAN>现货市场走势不一。华东乙烯法<SPAN lang=EN-US>PVC</SPAN>报<SPAN lang=EN-US>8250</SPAN>元,与昨日持平。华东电石法<SPAN lang=EN-US>PVC</SPAN>则上涨<SPAN lang=EN-US>50</SPAN>元,报<SPAN lang=EN-US>8000</SPAN>元。电石价格走势平稳,西北报<SPAN lang=EN-US>3500</SPAN>元,华东电石报<SPAN lang=EN-US>3900</SPAN>元,均与昨日持平。市场成交不活跃。<SPAN lang=EN-US><BR> </SPAN>仓单库存:交易所仓单报<SPAN lang=EN-US>1924</SPAN>张,较昨日减少<SPAN lang=EN-US>400</SPAN>张<SPAN lang=EN-US><BR> </SPAN>观点总结:昨日<SPAN lang=EN-US>PVC</SPAN>弱势整理,下方十日均线暂时为其提供了一定的支撑,但成交与持仓均明显回落,显示市场信心有所流失。基本面上,现货价格连续攀升,为其提供了一定的支撑,但原油走势疲软,原料电石价格持续走弱则对其产生一定的压制。预计其下跌的空间不大,经短暂调整后,仍可继续走高。操作上,投资者暂以日内交易为主。<SPAN lang=EN-US><BR style="mso-special-character: line-break"><BR style="mso-special-character: line-break"><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"><BR>3 </SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">天胶<SPAN lang=EN-US><BR> </SPAN>外盘走势:昨日<SPAN lang=EN-US>TOCOM</SPAN>橡胶多空双方争夺激烈,随后在十日均线的支撑下初步止跌反弹,七月合约报收于<SPAN lang=EN-US>511.2</SPAN>日元,跌<SPAN lang=EN-US>8.3</SPAN>日元,跌幅<SPAN lang=EN-US>1.60%</SPAN>。成交与持仓均大幅回升,显示目前市场仍较大。基本面上,供应偏紧的格局并未改变,近期回调应属短线投资者获利了结打压,预计下方空间不大。操作上,建议暂以日内交易为主。<SPAN lang=EN-US><BR></SPAN>消息面:<SPAN lang=EN-US>1</SPAN>、橡胶价格持续上涨<SPAN lang=EN-US> </SPAN>轮胎企业苦捱最长<SPAN lang=EN-US>“</SPAN>寒假<SPAN lang=EN-US>” 2</SPAN>、泰国政府推出新橡胶种植计划<SPAN lang=EN-US><BR> </SPAN>现货市场:上海市场橡胶现货价格明显回落。云南国标一号胶报<SPAN lang=EN-US>41800</SPAN>元,跌<SPAN lang=EN-US>700</SPAN>元,泰国<SPAN lang=EN-US>3#</SPAN>烟片报<SPAN lang=EN-US>44500</SPAN>元,跌<SPAN lang=EN-US>300</SPAN>元。丁苯橡胶报<SPAN lang=EN-US>27000</SPAN>元,齐鲁化城顺丁橡胶<SPAN lang=EN-US>BR9000</SPAN>报<SPAN lang=EN-US>32600</SPAN>,均无涨跌。市场成交不活跃。<SPAN lang=EN-US><BR> </SPAN>亚洲各橡胶主产区天气预报如下:<SPAN lang=EN-US><BR></SPAN>泰国<SPAN lang=EN-US> </SPAN>曼谷<SPAN lang=EN-US> </SPAN>晴<SPAN lang=EN-US> <st1:chmetcnv TCSC="0" NumberType="1" Negative="False" HasSpace="False" SourceValue="30" UnitName="℃" w:st="on">30℃</st1:chmetcnv></SPAN>~<st1:chmetcnv TCSC="0" NumberType="1" Negative="False" HasSpace="False" SourceValue="23" UnitName="℃" w:st="on"><SPAN lang=EN-US>23℃</SPAN></st1:chmetcnv><SPAN lang=EN-US> </SPAN>风力:<SPAN lang=EN-US>3</SPAN>级<SPAN lang=EN-US><BR></SPAN>越南<SPAN lang=EN-US> </SPAN>河内<SPAN lang=EN-US> </SPAN>中雨<SPAN lang=EN-US> <st1:chmetcnv TCSC="0" NumberType="1" Negative="False" HasSpace="False" SourceValue="16" UnitName="℃" w:st="on">16℃</st1:chmetcnv></SPAN>~<st1:chmetcnv TCSC="0" NumberType="1" Negative="False" HasSpace="False" SourceValue="14" UnitName="℃" w:st="on"><SPAN lang=EN-US>14℃</SPAN></st1:chmetcnv><SPAN lang=EN-US> </SPAN>风力:<SPAN lang=EN-US>3</SPAN>级<SPAN lang=EN-US><BR> </SPAN>胡志明市<SPAN lang=EN-US> </SPAN>晴<SPAN lang=EN-US> <st1:chmetcnv TCSC="0" NumberType="1" Negative="False" HasSpace="False" SourceValue="34" UnitName="℃" w:st="on">34℃</st1:chmetcnv></SPAN>~<st1:chmetcnv TCSC="0" NumberType="1" Negative="False" HasSpace="False" SourceValue="22" UnitName="℃" w:st="on"><SPAN lang=EN-US>22℃</SPAN></st1:chmetcnv><SPAN lang=EN-US> </SPAN>风力:<SPAN lang=EN-US>3</SPAN>级<SPAN lang=EN-US><BR></SPAN>马来西亚<SPAN lang=EN-US> </SPAN>吉隆坡<SPAN lang=EN-US> </SPAN>雷阵雨<SPAN lang=EN-US> <st1:chmetcnv TCSC="0" NumberType="1" Negative="False" HasSpace="False" SourceValue="33" UnitName="℃" w:st="on">33℃</st1:chmetcnv></SPAN>~<st1:chmetcnv TCSC="0" NumberType="1" Negative="False" HasSpace="False" SourceValue="23" UnitName="℃" w:st="on"><SPAN lang=EN-US>23℃</SPAN></st1:chmetcnv><SPAN lang=EN-US> </SPAN>风力:<SPAN lang=EN-US>2</SPAN>级转<SPAN lang=EN-US>1</SPAN>级<SPAN lang=EN-US><BR></SPAN>印尼<SPAN lang=EN-US> </SPAN>雅加达<SPAN lang=EN-US> </SPAN>雷阵雨<SPAN lang=EN-US> <st1:chmetcnv TCSC="0" NumberType="1" Negative="False" HasSpace="False" SourceValue="31" UnitName="℃" w:st="on">31℃</st1:chmetcnv></SPAN>~<st1:chmetcnv TCSC="0" NumberType="1" Negative="False" HasSpace="False" SourceValue="24" UnitName="℃" w:st="on"><SPAN lang=EN-US>24℃</SPAN></st1:chmetcnv><SPAN lang=EN-US> </SPAN>风力:<SPAN lang=EN-US>2</SPAN>级转<SPAN lang=EN-US>1</SPAN>级<SPAN lang=EN-US><BR> </SPAN>仓单库存:交易所仓单报<SPAN lang=EN-US>40915</SPAN>吨,与昨日持平。<SPAN lang=EN-US><BR> </SPAN>观点总结:昨日沪胶继续震荡走低,十日均线也告失守。显示短期获利抛压开始显现。基本面上,现货供应紧张的格局并没有明显改善,但经连续上涨,沪胶盘中获利筹码众多,且下游轮胎厂商也因成本大幅上升而叫苦不迭,预计短期有一定的整理要求,但其基本面良好,预计下方空间不大。操作上,建议投资者可在<SPAN lang=EN-US>41000——40500</SPAN>一线逢低介入多单。<SPAN lang=EN-US><BR style="mso-special-character: line-break"><BR style="mso-special-character: line-break"><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 PTA<BR> </SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">消息面:<SPAN lang=EN-US>NYMEX</SPAN>原油收涨,因中东紧张局势升温,<SPAN lang=EN-US>NYMEX 3</SPAN>月原油期货上涨<SPAN lang=EN-US>0.67</SPAN>美元,收报<SPAN lang=EN-US>84.99</SPAN>美元<SPAN lang=EN-US>/</SPAN>桶。<SPAN lang=EN-US>2</SPAN>、浙化联、联吉<SPAN lang=EN-US>2011</SPAN>年<SPAN lang=EN-US>2</SPAN>月半光切片合同报价上调至<SPAN lang=EN-US>13800</SPAN>元<SPAN lang=EN-US>/</SPAN>吨,联吉有光切片合同报价上调至<SPAN lang=EN-US>13800</SPAN>元<SPAN lang=EN-US>/</SPAN>吨。<SPAN lang=EN-US>3</SPAN>、荣盛石化上调<SPAN lang=EN-US>2011</SPAN>年<SPAN lang=EN-US>2</SPAN>月份半光、有光切片合同报价至<SPAN lang=EN-US>13800</SPAN>元<SPAN lang=EN-US>/</SPAN>吨。现货报价为<SPAN lang=EN-US>13900</SPAN>元<SPAN lang=EN-US>/</SPAN>吨承兑价,厂家反映市场气氛仍旧低迷,成交一般。<SPAN lang=EN-US><BR> </SPAN>现货价格:华东<SPAN lang=EN-US>PTA</SPAN>市场行情趋稳,市场少量报盘意向在<SPAN lang=EN-US>11900-12000</SPAN>元<SPAN lang=EN-US>/</SPAN>吨,卖方低价惜售,下游工厂接盘不多,实际商谈在<SPAN lang=EN-US>11800-11850</SPAN>元<SPAN lang=EN-US>/</SPAN>吨附近展开,实盘稀少。亚洲<SPAN lang=EN-US>PTA</SPAN>市场维持高位,台产船货报盘在<SPAN lang=EN-US>1500</SPAN>美元<SPAN lang=EN-US>/</SPAN>吨,持货方低价惜售,市场实际商谈在<SPAN lang=EN-US>1490</SPAN>美元<SPAN lang=EN-US>/</SPAN>吨附近展开,韩货商谈在<SPAN lang=EN-US>1475-1480</SPAN>美元<SPAN lang=EN-US>/</SPAN>吨附近。<SPAN lang=EN-US><BR> </SPAN>库存数据:交易所仓单为<SPAN lang=EN-US>10545</SPAN>张,与上一交易日减少<SPAN lang=EN-US>5</SPAN>张,有效预报为<SPAN lang=EN-US>601</SPAN>张。<SPAN lang=EN-US><BR> </SPAN>观点总结:国内主流供应商<SPAN lang=EN-US>2</SPAN>月<SPAN lang=EN-US>PTA</SPAN>挂牌价格上调至<SPAN lang=EN-US>11800</SPAN>元<SPAN lang=EN-US>/</SPAN>吨。目前下游的实质性需求仍未有效释放,下游采购仍较低迷,这令<SPAN lang=EN-US>PTA</SPAN>市场有所震荡;<SPAN lang=EN-US>PTA</SPAN>现货市场气氛偏淡,卖方低价惜售,工厂接盘谨慎。江浙涤丝持稳,个别工厂下调百元,部分则适度优惠促销,由于下游开机率尚未恢复,市场维持观望;聚酯切片合同报价上调,市场气氛一般。<SPAN lang=EN-US>PTA1105</SPAN>合约微幅收跌,期价处于前期高点<SPAN lang=EN-US>12396</SPAN>下方整理,短线<SPAN lang=EN-US>12000</SPAN>关口面临震荡,中期有望延续震荡上行走势。操作上,回落短多交易。<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"><BR>5 </SPAN><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">沪油<SPAN lang=EN-US><BR> </SPAN>外盘走势:<SPAN lang=EN-US>NYMEX</SPAN>原油收盘收涨,因市场担忧中东地区紧张局势将影响该地区原油供应,<SPAN lang=EN-US>NYMEX 3</SPAN>月原油期货上涨<SPAN lang=EN-US>0.67</SPAN>美元,涨幅<SPAN lang=EN-US>0.79%</SPAN>,收报<SPAN lang=EN-US>84.99</SPAN>美元<SPAN lang=EN-US>/</SPAN>桶。<SPAN lang=EN-US><BR></SPAN>消息方面:<SPAN lang=EN-US><BR> 1</SPAN>、亚洲燃料油市场走弱,近月<SPAN lang=EN-US>4</SPAN>个合约因获利了结打压而下滑,<SPAN lang=EN-US>380-cst</SPAN>燃料油现货价差从纪录高位回落。<SPAN lang=EN-US><BR> 2</SPAN>、美国石油学会公布的数据显示,美国<st1:chsdate w:st="on" IsROCDate="False" IsLunarDate="False" Day="12" Month="2" Year="2011"><SPAN lang=EN-US>2</SPAN>月<SPAN lang=EN-US>12</SPAN>日</st1:chsdate>当周<SPAN lang=EN-US>API</SPAN>原油库存减少<SPAN lang=EN-US>35.4</SPAN>万桶,馏分油库存减少<SPAN lang=EN-US>117.6</SPAN>万桶。<SPAN lang=EN-US><BR> </SPAN>现货方面:<SPAN lang=EN-US>16</SPAN>日黄埔到岸价,新加坡高硫<SPAN lang=EN-US>180</SPAN>美金价<SPAN lang=EN-US>636.58</SPAN>美元,到岸贴水<SPAN lang=EN-US>19-20</SPAN>美元,新加坡高硫<SPAN lang=EN-US>380</SPAN>美金价<SPAN lang=EN-US>623.80</SPAN>美元。华南混调油最新交易估价:船用混调<SPAN lang=EN-US>180</SPAN>交易过驳价至<SPAN lang=EN-US>4690-4700</SPAN>元<SPAN lang=EN-US>/</SPAN>吨;库提价<SPAN lang=EN-US>4700-4710</SPAN>元<SPAN lang=EN-US>/</SPAN>吨,均价持平,国产锅炉用混调<SPAN lang=EN-US>180CST</SPAN>交易价至<SPAN lang=EN-US>4450-4500</SPAN>元<SPAN lang=EN-US>/</SPAN>吨,均价持平。<SPAN lang=EN-US><BR> </SPAN>观点总结:中东地区紧张局势升温令<SPAN lang=EN-US>NYMEX</SPAN>原油小幅回升;亚洲燃料油因获利了结打压而下滑。华东燃料油市场报价平稳,商家稳价待市,进口油价格受需求压制,价格持稳上调空间受限;华南地区混调油受需求压制涨幅受限,国产船用油商家观望气氛浓厚,需求仍较低迷。外盘处于高位和成品油调价预期支撑燃料油后市仍趋于看涨,但需求不振限制短期上行空间。沪油<SPAN lang=EN-US>1105</SPAN>合约震荡回落,期价下探至<SPAN lang=EN-US>10</SPAN>日线后有所回升,短线将围绕<SPAN lang=EN-US>4800</SPAN>一线震荡。操作上,冲高减仓,回落短多交易。<SPAN lang=EN-US><BR style="mso-special-character: line-break"><BR style="mso-special-character: line-break"><o:p></o:p></SPAN></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"> </FONT></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">瑞达期货:多头信心充足,反弹行情延续<SPAN lang=EN-US><BR></SPAN>外盘表现:<SPAN lang=EN-US><BR></SPAN>外盘指数<SPAN lang=EN-US> </SPAN>收盘<SPAN lang=EN-US> </SPAN>涨跌<SPAN lang=EN-US> </SPAN>涨幅<SPAN lang=EN-US><BR></SPAN>道琼斯<SPAN lang=EN-US> 12288.17 61.53 0.50%<BR></SPAN>纳斯达克<SPAN lang=EN-US> 2825.56 21.21 0.76%<BR></SPAN>标普<SPAN lang=EN-US>500 1336.32 8.31 0.63%<BR></SPAN>富时<SPAN lang=EN-US>100 6085.27 48.19 0.80%<BR></SPAN>德国<SPAN lang=EN-US>DAX 7414.30 14.26 0.19%<BR></SPAN>法国<SPAN lang=EN-US>CAC40 4151.26 40.92 1.00%<BR>C0MEX</SPAN>黄金<SPAN lang=EN-US> 1375.10 1.0 0.07%<BR>NYMEX</SPAN>原油<SPAN lang=EN-US> 84.99 0.67 0.79%<BR></SPAN>美元指数<SPAN lang=EN-US> 78.199 -0.365 -0.46%<BR></SPAN>小结:受购并与上市公司利好财报推动,美股周三小幅上扬,标准普尔<SPAN lang=EN-US>500</SPAN>指数已较金融危机时创下的低点上涨<SPAN lang=EN-US>100%</SPAN>以上。欧股周三连续第四个交易日收高,法国兴业银行的强劲盈利报告帮助提振了银行股。制药巨头赛诺菲<SPAN lang=EN-US>-</SPAN>安万特公司<SPAN lang=EN-US>(SNY)</SPAN>确认达成收购健赞<SPAN lang=EN-US>(Genzyme)</SPAN>交易,其股价大涨。<SPAN lang=EN-US><BR><BR></SPAN>消息面:<SPAN lang=EN-US><BR>1. </SPAN>股票投资最高<SPAN lang=EN-US>30%</SPAN>,千亿企业年金可直接入市;<SPAN lang=EN-US><BR>2. </SPAN>央行重申:运用多种货币工具稳物价;<SPAN lang=EN-US><BR>3. </SPAN>央票发行量骤增,准备金率上调预期减弱;<SPAN lang=EN-US><BR>4. </SPAN>楼市新一轮<SPAN lang=EN-US>“</SPAN>限购<SPAN lang=EN-US>”</SPAN>料本周全国铺开;<SPAN lang=EN-US> <BR>5. </SPAN>北京楼盘利润过高将被处以重税;<SPAN lang=EN-US><BR>6. </SPAN>房价统计方法改革,网签数据将成房价统计基础数据<SPAN lang=EN-US> </SPAN>;<SPAN lang=EN-US><BR>7. </SPAN>美联储上调美国<SPAN lang=EN-US>GDP</SPAN>增速预期,至<SPAN lang=EN-US>3.4%-3.9% </SPAN>;<SPAN lang=EN-US><BR>8. </SPAN>美<SPAN lang=EN-US>1</SPAN>月核心<SPAN lang=EN-US>PPI</SPAN>上升<SPAN lang=EN-US>0.5% </SPAN>创两年多来高点;<SPAN lang=EN-US><BR>9. </SPAN>美<SPAN lang=EN-US>1</SPAN>月份工业产值下滑<SPAN lang=EN-US>0.1%</SPAN>,<SPAN lang=EN-US>19</SPAN>个月来首次下降;<SPAN lang=EN-US><BR>10.</SPAN>美<SPAN lang=EN-US>1</SPAN>月新屋开建大涨<SPAN lang=EN-US>14.6%</SPAN>好于预期;<SPAN lang=EN-US><BR>11.</SPAN>英国央行有必要通过上调关键利率来抗击通胀,但暗示加息将比投资者预期的平缓;<SPAN lang=EN-US><BR>12.</SPAN>世行官员:资本流入妨碍亚洲抗通胀。<SPAN lang=EN-US><BR><BR></SPAN>持仓分析<SPAN lang=EN-US><BR><st1:chsdate w:st="on" IsROCDate="False" IsLunarDate="False" Day="16" Month="2" Year="2011">2<SPAN lang=EN-US><SPAN lang=EN-US>月16</SPAN></SPAN><SPAN lang=EN-US><SPAN lang=EN-US>日</SPAN></SPAN></st1:chsdate><SPAN lang=EN-US>前20</SPAN></SPAN>名多头主力持单(<SPAN lang=EN-US>IF1103</SPAN>)<SPAN lang=EN-US>21300</SPAN>手,空头主力持仓<SPAN lang=EN-US>26576</SPAN>手,净空持仓<SPAN lang=EN-US>5276</SPAN>手,净空持仓增加<SPAN lang=EN-US>862</SPAN>手。其中:前<SPAN lang=EN-US>5</SPAN>名主力机构净空持仓<SPAN lang=EN-US>8402</SPAN>手。<SPAN lang=EN-US> <BR></SPAN>因主力合约周五到期交割,主力提前布局,减持<SPAN lang=EN-US>2</SPAN>月合约增持<SPAN lang=EN-US>3</SPAN>月合约。昨日双方主力均针锋相对采取大幅度增仓策略。其中,空头增持幅度较为显著,空头力量增强。持仓动向表明,多空双方继续争夺当前高点,且分歧加大,曾胶着状态,预计后市震荡将加剧。一旦多头突破当前关键点,后市走势值得期待;反之,在空头打压下市场加速向下。<SPAN lang=EN-US><BR><BR></SPAN>瑞达研究院观点:<SPAN lang=EN-US><BR></SPAN>新晋主力合约<SPAN lang=EN-US>IF1103</SPAN>周三报收于<SPAN lang=EN-US>3272.6</SPAN>点,预计周四<SPAN lang=EN-US>F1103</SPAN>合约运行区间在<SPAN lang=EN-US>3300-3225</SPAN>点之间。如上方冲破<SPAN lang=EN-US> 3300 </SPAN>点可以小多,止损下设<SPAN lang=EN-US>15</SPAN>个点;如下方破<SPAN lang=EN-US>3225</SPAN>点,可以介入空单,止损上设<SPAN lang=EN-US>15</SPAN>个点。如在区间内窄幅震荡,可以高空低多的策略。<SPAN lang=EN-US><BR><BR></SPAN>合约名称<SPAN lang=EN-US> </SPAN>强阻力位<SPAN lang=EN-US> </SPAN>阻力位<SPAN lang=EN-US> </SPAN>支撑位<SPAN lang=EN-US> </SPAN>强支撑位<SPAN lang=EN-US><BR>HS 300 3310 3285 3200 3175<BR>IF1102 3320 3285 3200 3170<BR>IF1103 3345 3300 3225 3200<BR>IF1106 3400 3380 3300 3280<BR>IF1109 3450 3430 3350 3330<o:p></o:p></SPAN></SPAN></P>
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