Microsoft (MSFT.O) unveiled a new quantum chip and said it aims to deliver a practical quantum computer by 2029.

Tianfeng Securities says China’s coal market is looser than in 2021–22, making a large coal-driven rise in the coal-to-oil price ratio unlikely. Geopolitical risk around the US–Iran conflict is uncertain; even if tensions ease, oil supply shortfalls are unlikely to be restored quickly and the oil-price baseline may not return to pre-conflict levels in the short term. A fall in the coal-to-oil ratio would widen downstream spreads for coal-to-chemicals; together with likely slower capacity growth during the 15th Five-Year Plan, coal-to-chemicals profitability may enter an upcycle.

午盘收盘，国内期货主力合约涨多跌少，菜油涨超3%，低硫燃料油（LU）、丙烯涨超2%，生猪、液化石油气（LPG）、PTA、原木、纯苯、对二甲苯、苹果涨近2%。跌幅方面，碳酸锂跌超4%，多晶硅跌超3%，氧化铝、红枣、沥青、沪镍跌超1%。