Commodities

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Precious metals2026/9/21

Silver Fundamental Research Analysis Report

The main contradiction is US dollar credit. Inflation is flat by 3.4% year-on-year, non-agriculture is up by 35,000 people year-on-year, real interest rate is up by 2.68% year-on-year, silver price is 16097, medium-and long-term price trend is on the high side, weekly K-line is up in current structure, recent price trend is down, daily K-line is up in current form, positions are down, trading volume is down, institutional seats are down, net positions are down, 7673 hands, net positions are down, net positions are down, net positions are.

Base metals2026/9/21

Nickel Fundamental Research Analysis Report

The main contradiction is profit production capacity. Supply increased by 5.1 year on year, demand increased by 6.4 year on year, inventory increased by 95.7 year on year, the price of Nickel is 123720, the medium and long-term price trend is short, the current structure of the weekly K line falls, the recent price trend falls, the current form of the daily K line falls, the position decreases, the volume decreases, the net position of institutional seats decreases by 25310 hands, and the net position decreases by -33,903 to -25,310 in the past 5 days.

Base metals2026/9/21

Copper Fundamental Research Analysis Report

The main contradiction is profit production capacity. Supply increased by 2% year-on-year, demand increased by 0.2% year-on-year, inventory decreased by 41% year-on-year, Copper -4 price 110180, medium-and long-term price trend is more, weekly current structure rises, recent price trend falls, daily K-line current form rises, position decreases, volume increases, net position of institutional seats 17121 more hands, net position from -2,506 hands to 17,121 hands in the past 5 days.

Base metals2026/9/21

Aluminum Fundamental Research Analysis Report

The main contradiction is profit production capacity. Supply increased by 0.2 year on year, demand increased by 5.4 year on year, inventory increased by 9.6 year on year, the price of Aluminum is 24220, the medium and long-term price trend is more, the current structure of the weekly K line falls, the recent price trend falls, the current form of the daily K line falls, the position increases, the turnover decreases, the net position of institutional seats increases by 14332 hands, and the net position increases by 2,151 hands to 14,332 hands in the past 5 days.

Base metals2026/9/21

Lead Fundamental Research Analysis Report

The main contradiction is profit production capacity, supply is flat year on year, year on year is empty, demand is flat year on year, year on year is empty, inventory is up 27.3 year on year, the price is 16135, the medium and long-term price trend is more, the current structure of weekly K line is up, the recent price trend is down, the current form of daily K line is down, the position is reduced, the turnover is flat, and the net position of institutional seats is more than 3512, net positions increased from 2,496 to 3,512 in the last 5 days.

Base metals2026/9/21

Tin Fundamental Research Analysis Report

The main contradiction is the mismatch between supply and demand. Supply is flat year on year, empty year on year, demand is flat year on year, empty year on year, inventory is reduced by -0.8 year on year, Tin price is 409000, medium and long-term price trend is more, weekly K-line current structure is rising, recent price trend is falling, daily K-line current form is rising, open position is reduced, turnover is reduced, net position of institutional seats is more than 2309, in the last 5 days, the net position was transferred from -335 to 2,309.

Ferrous2026/9/21

SS Stainless Fundamental Research Analysis Report.

The main contradiction is profit production capacity, supply decreased by -5.9 year on year, demand was flat year on year, inventory increased by 4.5 year on year, Stainless price was 13725, medium and long-term price trend was neutral, weekly K line current structure fell, recent price trend fluctuated, daily K line current form fell, open position increased, trading volume decreased, net position of institutional seats was 4274 hands, the net position in the last 5 days has been transferred from 3,170 hands to -4,274 hands.

Base metals2026/9/21

ZN Zinc Fundamental Research Analysis Report.

The main contradiction is profit production capacity, supply decreased by -4.2 year on year, demand decreased by -1.8 year on year, inventory increased by 100 year on year, Zinc price 26710, medium and long-term price trend is more, weekly Kline current structure rises, recent price trend falls, daily K line current form rises, open position decreases, turnover decreases, net position of institutional seats increases by 47226 hands, net position increases by 39,544 hands to 47,226 hands in the past 5 days.

Energy2026/9/21

SC Crude oil Fundamental Research Analysis Report.

The main contradiction is geography/accident. Supply decreased by -9.3% year-on-year, demand decreased by -0.6% year-on-year, inventory decreased by -3.9% year-on-year, short Crude oil price 827, medium-and long-term price trend is more, weekly K-line current structure rises, recent price trend rises, daily K-line current form falls, open position is flat, turnover increases, and net position of institutional seats is neutral.

Energy2026/9/21

FU Fuel oil Fundamental Research Analysis Report.

The main contradiction is geography/accident. Supply decreased by -20.8% year-on-year, demand decreased by -37.9% year-on-year, inventory decreased by -69.8% year-on-year, short Fuel oil price 4213, medium-and long-term price trend is more, weekly K-line current structure rose, recent price trend rose, daily K-line current form rose, open position decreased, turnover decreased, net position of institutional seats 3741 more hands, in the past 5 days, the net position decreased from 12,873 to 3,741.

Oil chemicals2026/9/21

BU Bitumen Fundamental Research Analysis Report.

The main contradiction is cost transmission, with supply decreasing by -40.8 year on year, demand decreasing by -25.7 year on year, inventory decreasing by -60.4 year on year, short of Bitumen price 5364, medium and long-term price trend, weekly K-line current structure rising, recent price trend rising, daily K-line current form rising, open position decreasing, turnover increasing, net position of institutional seats 82383 more hands, net positions increased from 64,444 to 82,383 in the last 5 days.

Energy2026/9/21

J Coke Fundamental Research Analysis Report.

The main contradiction is profit production capacity. Supply decreased by -6.3 year on year, demand decreased by -3.9 year on year, inventory decreased by -3.1 year on year, Coke price 1985, medium and long-term price trend neutral, weekly K-line current structure decreased, recent price trend fluctuated, daily K-line current form decreased, open position decreased, turnover decreased, net position of institutional seats 4640 hands, the net position in the last 5 days increased from -3,430 hands to -4,640 hands.

Energy2026/9/21

JM Coking coal Fundamental Research Analysis Report.

The main contradiction is profit production capacity, supply decreased by -21.4 year on year, demand decreased by -1.2 year on year, inventory increased by 17.3 year on year, price 1580 for Coking coal, medium and long-term price trends, weekly Kline current structure rose, recent price trend fell, daily K line current form fell, open position decreased, turnover decreased, net position of institutional seats 37614 hands, net position from 2,640 hands to -37,614 hands in the past 5 days.

Energy2026/9/21

LPG Fundamental Research Analysis Report

The main contradiction is cost transmission, with supply decreasing by -11.3% year-on-year, demand increasing by 14.6% year-on-year, inventory decreasing by -23.6% year-on-year, long-term price trend 6542, weekly LPG current structure rising, recent price trend rising, daily K current form rising, open position increasing, turnover decreasing, net position of institutional seats 1470 hands, net position changing from 143 hands to -1,470 hands in the past 5 days.

Coal chemicals2026/9/21

MA Methanol Fundamental Research Analysis Report.

The main contradiction is cost transmission, with supply increasing by 4.4 year on year, demand decreasing by -9.6 year on year, inventory flat by 79.7 year on year, Methanol price 3488, medium and long-term price trend, weekly current structure rising, recent price trend rising, daily K line current form rising, position decreasing, volume decreasing, net position of institutional seats 176800 more hands, net position decreasing from 208,833 hands to 176,800 hands in the past 5 days.

Coal chemicals2026/9/21

PVC Fundamental Research Analysis Report

The main contradiction cost transmission, supply decreased by -9% year-on-year, demand decreased by -7.6% year-on-year, inventory decreased by -19.3% year-on-year, short of PVC price 4755, medium-and long-term price trend, weekly K-line current structure rose, recent price trend fell, daily K-line current form fell, open position increased, trading volume decreased, net position of institutional seats was 236029 hands, in the past 5 days, the net position decreased from -241,207 to -236,029.

Coal chemicals2026/9/21

UR Urea Fundamental Research Analysis Report.

The main contradiction is the mismatch between supply and demand. Supply increased by 6.6 year on year, demand increased by 7.5 year on year, inventory increased by 33.5 year on year, the price of Urea was 1762, the medium and long-term price trend was short, the current structure of weekly K line fell, the recent price trend fell, the current form of daily K line rose, the position decreased, the volume decreased, the net position of institutional seats was 41639 hands, and the net position increased from -29,935 hands to -41,41,41,639 hands.

Oil chemicals2026/9/21

EG MEG Fundamental Research Analysis Report.

The main contradiction is profit production capacity, with supply decreasing by -25.3 year on year, demand decreasing by -22.9 year on year, inventory decreasing by -74.5 year on year, short of MEG price 6027, medium and long-term price trend, weekly K-line current structure rising, recent price trend rising, daily K-line current form rising, open position decreasing, turnover increasing, net position of institutional seats 9438 more hands, in the past 5 days, the net position decreased from 18,522 to 9,438.

Oil chemicals2026/9/21

TA PTA Fundamental Research Analysis Report.

The main contradiction is cost transmission, with supply decreasing by -19.9 year on year, demand decreasing by -5.9 year on year, inventory decreasing by -43.3 year on year, short of PTA price 6282, medium and long-term price trend, weekly K-line current structure falling, recent price trend rising, daily K-line current form rising, open position increasing, turnover increasing, net position of institutional seats 269271 more hands, in the past 5 days, the net position increased from 225,236 to 269,271.

Oil chemicals2026/9/21

PX PX Fundamental Research Analysis Report.

The main contradiction is cost transmission, with supply decreasing by -17.2 year on year, demand decreasing by-4% year on year, inventory decreasing by -9.1 year on year, PX price 9376, medium and long-term price trend neutral, weekly K-line current structure declining, recent price trend fluctuating, daily K-line current form declining, open position increasing, turnover increasing, net position of institutional seats 14044 more hands, in the past 5 days, the net position decreased from 14,336 to 14,044.

Oil chemicals2026/9/21

PF PSF Fundamental Research Analysis Report.

The main contradiction is geography/accident. Supply decreased by -16.3% year-on-year, demand was flat by -15.4% year-on-year, inventory decreased by -29.4% year-on-year, short PSF price 8228, medium-and long-term price trend was more, weekly K-line structure rose in the current period, recent price trend rose, daily K-line pattern rose in the current period, open position increased, trading volume increased, and net position of institutional seats was more than 9282, net positions increased from 6,020 to 9,282 in the last 5 days.

Oil chemicals2026/9/19

Oil chemicals Propylene Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is cost transmission. Supply decreased by -5% year-on-year, demand decreased by -8.4% year-on-year, inventory increased by 54.1% year-on-year, Propylene price 9092, medium-and long-term price trend is more, weekly Kline current structure fell, recent price trend rose, daily K line current form fell, open position decreased, trading volume decreased, net position of institutional seats was 610 hands, in the last 5 days, the net position increased from -490 hands to -610 hands.

Oil chemicals2026/9/19

Oil chemicals PP Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is cost transmission, with supply decreasing by -8.4 year on year, demand decreasing by -9.1 year on year, inventory decreasing by -36.9 year on year, short of PP price 8653, medium and long-term price trend, weekly K line falling in current structure, recent price trend rising, daily K line falling in current form, open position increasing, trading volume flat, net position of institutional seats 55405 more hands, net positions increased from 49,079 to 55,405 in the last 5 days.

Oil chemicals2026/9/19

Oil chemicals Bottle-grade PET Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is cost transmission. Supply increased by 2.5% year-on-year, demand increased by 19.9% year-on-year, inventory was flat by year-on-year, Bottle-grade PET -67.8 price 8132, medium-and long-term price trend was more, weekly current structure fell, recent price trend rose, daily K-line current pattern fell, positions decreased, trading volume increased, net positions of institutional seats increased by 3638 hands, and net positions increased from 3,486 hands to 3,638 hands in the past 5 days.

Oil chemicals2026/9/19

Oil chemicals Styrene Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is cost transmission. Supply decreased by -10% year-on-year, demand decreased by -20.8% year-on-year, inventory decreased by -78.4% year-on-year, price 9770, medium-and long-term price trend is more, weekly K-line current structure fell, recent price trend rose, daily K-line current form rose, open position decreased, trading volume was flat, and net position of institutional seats was more than 24564, in the past 5 days, the net position increased from 2,754 to 24,564.

Oil chemicals2026/9/19

Oil chemicals Benzene Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is cost transmission, with supply decreasing by -11.9 year on year, demand decreasing by -9.1 year on year, inventory decreasing by -71.6 year on year, short of Benzene price 8601, medium and long-term price trend, weekly K-line current structure falling, recent price trend rising, daily K-line current form falling, open position decreasing, turnover increasing, net position of institutional seats 163 more hands, the net position in the last 5 days has been transferred from -192 hands to 163 hands.

Oil chemicals2026/9/19

Oil chemicals Plastics Commodity Futures Fundamental Data Research and Analysis Report

The primary contradiction lies in cost pass‑through. Supply is down 12.7% year‑on‑year, demand is down 12.7% year‑on‑year, and inventory is down 8.5% year‑on‑year. The price of Plastics is 8,318. The medium‑ to long‑term price trend is bullish. On the weekly K‑line, the current structure shows a decline; in the near term, prices are rising. On the daily K‑line, the current pattern indicates a decline. Open interest has increased, and trading volume has risen. Institutional net positions are long by 52,045 contracts, up from 42,054 contracts over the past five days.

Forest chemicals2026/9/19

Forest chemicals Rubber Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is profit production capacity, supply increased by 5.8 year on year, demand decreased by -0.3 year on year, inventory decreased by -8.7 year on year, price 18670, medium and long-term price trend is more, weekly K line current structure fell, recent price trend rose, daily K line current form fell, open position decreased, turnover decreased, net position of institutional seats increased by 12683 hands, net position increased from 11,866 hands to 12,683 hands in the past 5 days.

Oil chemicals2026/9/19

Oil chemicals Synthetic rubber Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is the mismatch between supply and demand. Supply increased by 2.6 year on year, demand increased by 15.3 year on year, inventory increased by 19.5 year on year, the price of Synthetic rubber is 14645, the medium and long-term price trend is more, the current structure of weekly K line falls, the recent price trend falls, the current form of daily K line falls, the position increases, the volume decreases, the net position of institutional seats increases by 3602 hands, and the net position changes by 3,602 hands in the past 5 days.

Building chemicals2026/9/19

Building chemicals Caustic soda Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is profit production capacity, supply decreased by -1.7 year on year, demand decreased by -9.9 year on year, inventory increased by 28.1 year on year, the price of Caustic soda is 1883, the medium and long-term price trend is too high, the current structure of the weekly Kline is down, the recent price trend is down, the current form of the daily K line is down, the position is reduced, the turnover is reduced, and the net position of institutional seats is 44743, in the past 5 days, the net position decreased from -44,757 to -44,743.

Building chemicals2026/9/19

Building chemicals Alumina Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is profit production capacity, supply increased by 6.6% year-on-year, demand increased by 4.3% year-on-year, inventory increased year-on-year, short price 2695, medium-and long-term price trend was short, weekly Kline current structure rose, recent price trend fell, daily K line current form rose, open position increased, trading volume decreased, net position of institutional seats was short by 53229, in the past 5 days, the net position decreased from -53,553 to -53,229.

Building chemicals2026/9/19

Building chemicals Soda ash Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is profit production capacity. Supply increased by 1.9 year on year, demand increased by 3.3 year on year, inventory increased by 7.6 year on year, the price of Soda ash is 1006, the medium and long-term price trend is short, the current structure of the weekly K line falls, the recent price trend falls, the current form of the daily K line falls, the position increases, the volume decreases, the net position of institutional seats is 287953 hands, and the net position has increased from -229,068 hands to -287,953 hands.

Building chemicals2026/9/19

Building chemicals Glass Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is profit production capacity, supply decreased by -9.3% year-on-year, demand decreased by -10.4% year-on-year, inventory increased by 14.7% year-on-year, Glass price 907, medium-and long-term price trend was short, weekly Kline current structure fell, recent price trend fell, daily K line current form rose, open position decreased, turnover decreased, net position of institutional seats 194514 hands, in the past 5 days, the net position increased from -101,542 hands to -194,514 hands.

Ferrous2026/9/19

Ferrous Iron ore Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is profit production capacity, supply decreased by -8.2% year-on-year, demand decreased by -1% year-on-year, inventory increased by 17.2% year-on-year, Iron ore price 715.5, medium-and long-term price trend was short, weekly Kline current structure fell, recent price trend fell, daily K line current form rose, open position increased, trading volume decreased, net position of institutional seats was 18297 hands, in the past 5 days, the net position decreased from -21,110 to -18,297.

Ferrous2026/9/19

Ferrous HRC Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is profit production capacity. Supply decreased by -11% year on year, demand remained flat by 1% year on year, inventory increased by 23.3 year on year, HRC price 3290, medium and long-term price trend was more, weekly current structure fell, recent price trend fell, daily K line current form fell, open position decreased, turnover remained flat, net position of institutional seats increased by 73687 hands, and net position increased from 50,686 hands to 73,687 hands in the past 5 days.

Ferrous2026/9/19

Ferrous Rebar Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is profit production capacity, supply decreased by -15% year-on-year, demand decreased by -6.2% year-on-year, inventory increased by 0.4% year-on-year, Rebar price 3096, medium-and long-term price trend was short, weekly Kline structure rose in the current period, recent price trend fell, daily K line pattern rose in the current period, open position increased, trading volume was flat, and net position of institutional seats was more than 191099, in the last 5 days, the net position increased from 134,492 to 191,099.

Ferrous2026/9/19

Ferrous Silicomanganese Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is profit production capacity, supply decreased by -12.5 year on year, demand decreased by -8.6 year on year, inventory increased by 83.9 year on year, Silicomanganese short price 5786, medium and long-term price trend was short, weekly Kline current structure rose, recent price trend fell, daily K line current form fell, open position decreased, trading volume decreased, net position of institutional seats 5167 hands, in the past 5 days, the net position decreased from -21,397 to -5,167.

Ferrous2026/9/19

Ferrous Ferrosilicon Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is profit production capacity. Supply increased by 0.2 year on year, demand decreased by -7.8 year on year, inventory increased by 29.8 year on year, Ferrosilicon short price 6018, medium and long-term price trend is more, weekly current structure falls, recent price trend falls, daily K-line current form falls, open position decreases, turnover decreases, net position of institutional seats 7252 more hands, net position from -834 hands to 7,252 hands in the past 5 days.

Softs2026/9/18

Softs Cotton Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is profit production capacity. Supply increased by 44.3% year-on-year, demand decreased by -10.1% year-on-year, inventory increased by 34.8% year-on-year, Cotton short price 15750, medium-and long-term price trend was short, weekly current structure fell, recent price trend fell, daily K-line current form fell, positions decreased, trading volume increased, and net positions of institutional seats were 25171 short, net positions increased from -17,642 hands to -25,171 hands in the last 5 days.

Softs2026/9/18

Softs Sugar Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is profit production capacity. Supply decreased by -11.2% year-on-year, demand increased by 1% year-on-year, inventory increased by 130.7% year-on-year, Sugar short-term price 5322, medium-and long-term price trend was short, weekly current structure rose, recent price trend rose, daily K-line current form fell, positions decreased, trading volume decreased, and net positions of institutional seats were 16421 short, in the past 5 days, the net position decreased from -27,681 to -16,421.

Forest chemicals2026/9/18

Forest chemicals Pulp Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is profit production capacity. Supply increased by 3% year-on-year, demand increased by 3.8% year-on-year, inventory increased by 93.9% year-on-year, Pulp price 4786, medium-and long-term price trend is more, weekly K line current structure fell, recent price trend fell, daily K line current form fell, open position decreased, turnover was flat, net position of institutional seats was 27064 hands, net position decreased from -35,518 hands to -27,064 hands in the past 5 days.

Fruit2026/9/18

Fruit Jujube Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is profit production capacity. Supply decreased by -16.2% year-on-year, demand increased by 11.6% year-on-year, inventory increased by 4.1% year-on-year, Jujube short-term price 7340, medium-and long-term price trend was short, weekly current structure fell, recent price trend rose, daily K-line current form rose, open position increased, trading volume increased, and net position of institutional seats was 23119 hands, in the past 5 days, the net position decreased from -31,400 to -23,119.

Livestock2026/9/18

Livestock Eggs Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is profit production capacity. Supply increased by 21.9% year-on-year, demand decreased by -10.4% year-on-year, inventory increased by 22% year-on-year, Eggs short price 3861, medium-and long-term price trend was short, weekly current structure rose, recent price trend rose, daily K-line current form rose, open position increased, trading volume increased, net position of institutional seats was more than 9708, in the last 5 days, the net position was transferred from -6,010 to 9,708.

Fruit2026/9/18

Fruit Apple Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is profit production capacity, with supply increasing by 4.3 year on year, demand flat by -30.9 year on year, inventory increasing by 33.8 year on year, Apple short price 7183, medium and long-term price trend short, weekly current structure falling, recent price trend falling, daily K-line current form rising, open position increasing, turnover increasing, net position of institutional seats 3833 more hands, net position decreasing from 13,317 hands to 3,833 hands in the past 5 days.

Livestock2026/9/18

Livestock Hogs Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is profit production capacity. Supply increased by 16.8 year on year, demand increased by 14% year on year, inventory increased by 0.1 year on year, Hogs price 11060, medium and long-term price trend was short, weekly K line current structure fell, recent price trend fell, daily K line current form fell, open position increased, trading volume was flat, net position of institutional seats was 36225 hands, net position decreased from -42,313 hands to -36,225 hands in the past 5 days.

Grains2026/9/18

Grains Peanut Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is profit production capacity. Supply increased by 1.8% year-on-year, demand decreased by -0.5% year-on-year, inventory increased by 106% year-on-year, Peanut short price 7884, medium-and long-term price trend was short, weekly current structure fell, recent price trend fell, daily K-line current form fell, positions decreased, trading volume decreased, and net positions of institutional seats were 33463 short, in the past 5 days, the net position decreased from -38,093 to -33,463.

Soy & oils2026/9/18

Soy & oils Soymeal Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is the mismatch between supply and demand. Supply increased by 4.5 year on year, demand increased by 4.8 year on year, inventory increased by 3.4 year on year, the price of Soymeal is 3397, the medium and long-term price trend is more, the current structure of the weekly K line is falling, the recent price trend is rising, the current form of the daily K line is falling, the position is increased, the volume is flat, the net position of institutional seats is more than 232913, and the net position is increased from 225,052 to 232,913.

Grains2026/9/18

Grains Corn Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is profit production capacity. Supply increased by 2.1 year on year, demand increased by 1% year on year, inventory increased by 6% year on year, Corn price 2185, medium and long-term price trend was short, weekly K line current structure fell, recent price trend fell, daily K line current form fell, positions decreased, trading volume decreased, net positions of institutional seats increased by 41112 hands, and net positions increased from 10,593 hands to 41,112 hands in the past 5 days.

Soy & oils2026/9/18

Soy & oils Rapeseed meal Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is the mismatch between supply and demand. Supply increased by 1.5% year-on-year, demand increased by 5.2% year-on-year, inventory decreased by 25% year-on-year, K322L0-price 2330, medium-and long-term price trend is more, weekly current structure rises, recent price trend rises, daily K-line current pattern falls, open position decreases, trading volume is flat, net position of institutional seats is more than 42322, net position has increased from 14,119 hands to 42 hands in recent days.

Soy & oils2026/9/18

Soy & oils Palm oil Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is profit production capacity, supply decreased by -2% year-on-year, demand decreased by -19.8% year-on-year, inventory increased by 37.1% year-on-year, price 9855, medium-and long-term price trend, weekly Kline current structure fell, recent price trend fell, daily K line current form fell, open position increased, turnover decreased, net position of institutional seats increased by 10276 hands, net position decreased by 23,707 hands to 10,276 hands in the past 5 days.

Soy & oils2026/9/18

Soy & oils Soybean No.2 Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is the mismatch between supply and demand. Supply increased by 7.9% year-on-year, demand decreased by -0.6% year-on-year, inventory increased by 41.9% year-on-year, the Soybean No.2 short-term price 4099, the medium-and long-term price trend is more, the weekly current structure fell, the recent price trend rose, the daily K-line current pattern fell, the position increased, the volume decreased, the net position of institutional seats was more than 565, and the net position decreased from 612 to 565 in recent 5.

Soy & oils2026/9/18

Soy & oils Rapeseed oil Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is the mismatch between supply and demand. Supply increased by 164% year-on-year, demand decreased by -2.3% year-on-year, inventory decreased by -69.4% year-on-year, price 10111, medium-and long-term price trends are on the high side, weekly Kline's current structure fell, recent price trends fell, daily K line's current pattern fell, positions decreased, trading volume decreased, net positions of institutional seats increased by 50394 hands, and net positions increased from 36,978 hands to 50,394 hands in the past 5 days.

Soy & oils2026/9/18

Soy & oils Soy oil Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is the mismatch between supply and demand. Supply increased by 6.9% year-on-year, demand decreased by -0.2% year-on-year, inventory increased by 19.4% year-on-year, Soy oil short-term price 8875, medium-and long-term price trend is more, weekly current structure fell, recent price trend fell, daily K-line current pattern fell, positions decreased, trading volume decreased, net positions of institutional seats increased by 95072 hands, and net positions decreased by 125,108 hands to 95,072 in the past 5 days.

New energy2026/9/18

New energy Lithium carbonate Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is profit production capacity. Supply increased by 98.7% year-on-year, demand increased by 26.4% year-on-year, inventory remained flat by 11.1, the medium-and long-term price trend was short, the current structure of the weekly K line fell, the recent price trend fell, the current form of the daily K line rose, the position increased, the volume was flat, the net position of institutional seats increased by 25645 hands, and the net position decreased from 28,410 hands to 25,645 hands in the past 5 days.

New energy2026/9/18

New energy Polysilicon Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is profit production capacity, with supply increasing by 0.1 year on year, demand decreasing by -61.4 year on year, inventory flat by 218.8 year on year, Polysilicon price 36490, medium and long-term price trend, weekly current structure rising, recent price trend falling, daily K line current form rising, position decreasing, turnover decreasing, net position of institutional seats 7773 hands, net position decreasing from -9,070 hands to -7,773 hands in recent 5 days.

Energy2026/9/18

Energy Fundamentals LPG Commodity Futures Data Research and Analysis Report.

The main contradiction is cost transmission. Supply decreased by -11.3 year on year, demand increased by 14.6 year on year, inventory decreased by -23.6 year on year, price 6895, medium and long-term price trend is more, weekly Kline current structure rose, recent price trend rose, daily K line current form rose, open position decreased, trading volume increased, net position of institutional seats 1433 hands, net position from 171 hands to -1,433 hands in the past 5 days.

Oil chemicals2026/9/18

Chemical MEG E Commodity Futures Fundamental Data Research and Analysis Report.

The main contradiction is profit production capacity, with supply decreasing by -25.3 year on year, demand decreasing by -22.9 year on year, inventory decreasing by -70.3 year on year, short of MEG price 6096, medium and long-term price trend, weekly K-line current structure rising, recent price trend rising, daily K-line current form falling, open position decreasing, turnover increasing, net position of institutional seats 9438 more hands, in the past 5 days, the net position decreased from 18,522 to 9,438.

Oil chemicals2026/9/18

Oil chemicals PTA Commodity Futures Fundamental Data Research and Analysis Report

The primary contradiction lies in cost pass‑through. Supply is down 19.9% year‑on‑year, demand is down 5.9% year‑on‑year, and inventories are down 43.3% year‑on‑year. The price of PTA is 6,250. The medium‑ to long‑term price trend is bullish. On the weekly K‑line, this period’s structure shows an upward move; the recent price trend is also rising. On the daily K‑line, this period’s pattern indicates an uptrend. Open interest has increased, and trading volume has risen. Institutional net positions stand at a net long of 181,878 contracts, having decreased from 243,033 contracts over the past five days to 181,878 contracts.

Building chemicals2026/9/18

Building chemicals Soda ash Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is profit production capacity. Supply increased by 10.3 year on year, demand increased by 3.3 year on year, inventory increased by 7.4 year on year, Soda ash price 1006, medium-and long-term price trend was short, weekly K line current structure fell, recent price trend fell, daily K line current form fell, open position increased, turnover decreased, net position of institutional seats 269059 hands, net position increased from -229,068 hands to -269,059 hands in the past 5 days.

Precious metals2026/9/18

Silver silver commodity futures fundamental data research and analysis report.

The main contradiction is US dollar credit, inflation is flat 3.4 year on year, non-agriculture is up 35 thousand people, real interest rate is up 2.61 year on year, silver price is 15558, medium and long-term price trend is more, weekly K-line current structure is down, recent price trend is down, daily K-line current form is down, position is down, volume is down, net position of institutional seats is 4432 hands, net position is up from -3,773 hands to -4,432 hands in the past 5 days.

Coal chemicals2026/9/18

Coal chemicals Methanol Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is cost transmission, with supply decreasing by -2.4% year-on-year, demand decreasing by -9.6% year-on-year, inventory flat by 76.6% year-on-year, Methanol GB price 3476, medium-and long-term price trend, weekly Kline current structure falling, recent price trend rising, daily K line current pattern falling, open position decreasing, turnover increasing, net position of institutional seats increasing by 171024 hands, net position increasing from 126,031 hands to 171,024 hands in recent days.

Oil chemicals2026/9/17

Oil chemicals Benzene Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction cost transmission, supply decreased by -11.9% year-on-year, demand decreased by -9.1% year-on-year, inventory decreased by -71.6% year-on-year, short of Benzene price 8601, medium-and long-term price trend is more, weekly K-line current structure fell, recent price trend rose, daily K-line current form fell, open position decreased, turnover increased, net position of institutional seats 154 hands, the net position in the last 5 days has been transferred from 1,387 hands to -154 hands.

Oil chemicals2026/9/17

Oil chemicals PX Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is cost transmission, with supply decreasing by -17.2 year on year, demand decreasing by-4% year on year, inventory decreasing by -9.1 year on year, PX price 9376, medium and long-term price trend neutral, weekly K-line current structure declining, recent price trend fluctuating, daily K-line current form declining, open position increasing, turnover increasing, net position of institutional seats 11119 more hands, in the past 5 days, the net position decreased from 11,944 to 11,119.

Precious metals2026/9/17

Precious metals Gold Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is US dollar credit. Inflation is flat by 3.4% year-on-year, non-agricultural by 35% year-on-year, real interest rate by 2.68% year-on-year, Gold short-term price 932.32, long-term price trend is more, weekly current structure falls, recent price trend falls, daily K-line current pattern falls, open position decreases, turnover decreases, net position of institutional seats is more than 106454 hands, net position increases from 87,041 hands to 106,454 hands in the past 5 days.

Energy2026/9/17

Energy Crude oil Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is geography/accident. Supply decreased by -9.3% year-on-year, demand decreased by -0.6% year-on-year, inventory decreased by -3.9% year-on-year, short Crude oil price 827, medium-and long-term price trend is more, weekly K-line current structure is rising, recent price trend is rising, daily K-line current form is falling, open position is increasing, trading volume is increasing, and net position of institutional seats is neutral.

Energy2026/9/17

Energy Coking coal Commodity Futures Fundamental Data Research and Analysis Report

The main contradiction is profit production capacity, supply decreased by -21.4 year on year, demand decreased by -1.2 year on year, inventory increased by 17.3 year on year, the price of Coking coal is 1580, the medium and long-term price trend is too high, the current structure of the weekly Kline is down, the recent price trend is down, the current form of the daily K line is down, the position is reduced, the turnover is reduced, and the net position of institutional seats is 37614, in the past 5 days, the net position has changed from 2,640 hands to -37,614 hands (from net long to net short 37,614 hands).

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