Group 1 - Gold and silver prices have declined due to a stronger US dollar and profit-taking by investors, which has reduced the purchasing power of overseas buyers [1] - The strengthening of the dollar has made commodities priced in dollars more expensive for international buyers, further suppressing demand [1] - The market is anticipating the release of US non-farm payroll data, which is expected to provide more insights into the direction of monetary policy [2] Group 2 - Technical analysis indicates that gold prices rebounded from daily lows as traders increased long positions, with a key resistance level at $4500 [3] - Silver prices are under pressure as the gold-silver ratio rises above 58.00, and a drop below $74.00 could open up further downside towards the support range of $70.20-$70.80 [3] - Platinum prices have rebounded from daily lows due to buying interest, with a need to reclaim $2265 for sustainable upward momentum, and a potential target of $2450 if prices rise above $2300 [3]

Core Viewpoint - Palladium futures experienced a rapid increase, reaching a peak of 503.75 yuan, with a current price of 502.70 yuan, reflecting a rise of 6.79% [1] Group 1: Market Analysis - Guosen Futures predicts that platinum and palladium will continue to experience high-level fluctuations within a range [1] - Hualian Futures expects platinum and palladium to maintain characteristics of high volatility and wide fluctuations in the future [1] Group 2: Influencing Factors - The recent market fluctuations are attributed to a balance of bullish and bearish forces following significant volatility, supported by dovish comments from Federal Reserve officials and ongoing risk-averse sentiment [1] - Increased margin requirements from exchanges and the need for market correction from previous overbought conditions are limiting further price increases [1] - The demand for palladium is primarily driven by the automotive sector, with a significant impact from the surge in penetration rates of new energy vehicles in China, which has suppressed the growth of palladium demand [1] Group 3: Future Outlook - The fundamental support for palladium is limited, with its price movements largely influenced by the overall sentiment of the precious metals sector, particularly in relation to platinum and macroeconomic conditions [1] - Investors are advised to manage their positions carefully due to the anticipated high volatility and wide fluctuations in the market [1]

1月9日盘中，胶版印刷纸期货主力合约弱势震荡，最低下探至4182.00元。截止发稿，胶版印刷纸主力 合约报4226.00元，跌幅0.56%。 胶版印刷纸期货主力小幅下跌0.56%，对于后市行情如何，相关机构该如何评价？ 机构 核心观点 瑞达期货 胶版印刷纸区间操作 银河期货 双胶纸估值处于低位 瑞达期货：胶版印刷纸区间操作 供应端，本期(20260102-0108)双胶纸产量20.4万吨，较上期增加0.1万吨，增幅0.5%，产能利用率 52.2%，较上期上升0.1%。库存端，截至2026年1月8日，本期双胶纸生产企业库存139.7万吨，环比增幅 0.4%。OP2602合约建议下方关注4100附近支撑，上方4400附近压力，区间操作。 银河期货：双胶纸估值处于低位 双胶纸估值处于低位，环比持平，木浆价格上涨推升成本，理论单吨亏损扩大，盈利承压明显，纸企发 布1月提价通知，但社会需求疲软制约涨价落地，部分区域成交让利。短期供需弱平衡格局难破，估值 缺乏持续大幅上涨驱动。 ...

消息面 据外媒报道，印尼能源部官员Eniya Listiani Dewi表示，因资金紧张，印尼可能提高棕榈油出口税，以 支持该国的生物柴油任务。印尼通过向棕榈油出口商征收出口税来补贴其生物柴油计划。 机构观点 宁证期货： 棕榈油"印尼政策利好预期"与"马来西亚高库存现实"之间博弈。国内现货市场方面基差成交寡淡，终端 需求一般。建议短线参与。 格林大华期货： 基本面上库存压力，出口乏力，宏观上国际原油偏强，多空交织之下棕榈油走势振荡为主。 路透调查显示，马来西亚12月棕榈油库存预计将攀升至近七年来的最高水平。根据路透社对10位贸易 商、种植商和分析师的调查预测中值，棕榈油库存预计将上升至297万吨，较11月增长4.7%，创2019年 2月以来最高水平。 数据显示，1月9日棕榈油现货价格报8710元/吨，较上一日上涨60元/吨，当日涨幅为0.69%。最近一 周，棕榈油价格累计上涨43.33元/吨，上涨幅度为0.50%；最近一个月，棕榈油价格累计下跌3.33元/ 吨，下跌幅度为0.04%。 ...

宁证期货指出，国内产区停割，东南亚原料价格止跌回升，胶厂加工利润亏损；国内天胶显性库存累 库，一季度累库高度预期不一。需求端多数轮胎样本企业维持灵活控产状态，成品库存累库中，原料采 购维持逢低补货节奏。技术处于调整阶段。整体宽幅震荡对待，短期高位偏空。 1月9日，国内期市能化板块涨跌互现。其中，天然橡胶期货主力合约开盘报16120.00元/吨，今日盘中 低位震荡运行；截至发稿，天然橡胶主力最高触及16135.00元，下方探低15815.00元，跌幅达1.05%附 近。 申银万国期货指出，国内产胶区基本停割，泰国东北部预计1月份将陆续停割，近期南部洪涝对供应产 生一定影响，支撑胶价。去年下半年以来，青岛地区库存缓慢去库，但四季度重新累库，12月底，库存 回升至全年高点。RU期货仓单目前仍处于偏低位置。轮胎开工方面，仍保持相对稳定。短期供应端弹 性减弱，原料胶价格相对坚挺。预计胶价震荡偏强。 格林大华期货分析称，基本面看，当前国内橡胶供需变动有限，前期受商品和情绪提振叠加海外原料价 格走强给予盘面较强动力。而随着盘面涨至前高附近且市场氛围降温，期价出现明显回调，短期盘面上 方阻力显现。【交易策略】RU主力关注15 ...

Market Overview - As of January 9, the profit from self-bred pigs was a loss of 11.54 yuan per head, improving from a loss of 34.59 yuan per head the previous week. The profit from purchased piglets was a loss of 2.31 yuan per head, compared to a loss of 48.35 yuan per head the prior week [1] - The average daily price of live pigs in China was 12.6 yuan per kilogram, with a slight increase of 0.02 yuan per kilogram week-on-week. In Henan, the benchmark delivery price was 12.98 yuan per kilogram, showing a decrease of 0.02 yuan per kilogram [1] Institutional Insights - According to Chaos Tiancheng Futures, the recent pig market is characterized by weak supply and demand, with reduced volatility in the spot market post-New Year. The basic indicators for pig prices are expected to strengthen as market sentiment cools, with supply potentially increasing in mid-January. Close attention is needed on the actual versus planned slaughter rates and the upcoming Spring Festival stocking demand [3] - Nanhua Futures noted that the price of standard pigs had rebounded slightly due to limited entry of new pigs and some reluctance to sell among larger producers. However, without significant improvements in supply-demand dynamics, pig prices are expected to remain low and fluctuate within a narrow range [4]

Group 1 - The current trading price of silver TD is above 18457, with a recent opening at 18245 and a current report of 18597, reflecting a decrease of 2.54% [1] - The highest price reached today was 18872, while the lowest was 17830, indicating a short-term volatile trading pattern [1] - The Federal Reserve Governor Milan expects a rate cut of 150 basis points this year to boost the labor market, with core inflation projected to remain around 2.3% [1] Group 2 - Silver TD prices experienced a significant drop of over 5% yesterday, continuing a downward trend for two consecutive days [2] - The one-hour MACD histogram indicates emerging bullish momentum, although prices remain below the zero line, suggesting that bearish conditions persist [2] - Key support levels for silver TD are identified between 16500 and 17500, while resistance levels are noted between 18500 and 19000 [2]

Group 1 - International silver is currently trading above $76.96, with a reported price of $77.07, reflecting a 0.14% increase, and has seen a high of $77.49 and a low of $75.45 during the session [1] - The next upward price target for silver bulls is to break through the key technical resistance level at the historical high of $82.67 per ounce [4] - A significant drop below current levels could trigger technical selling, potentially accelerating a decline towards the psychological level of $75.00, with further corrections possibly extending to the next support level near $74.00, which may serve as a short-term bottom for the commodity [4] Group 2 - The volatility of the upcoming U.S. non-farm payroll data remains a primary risk factor, with the impact of the 2025 government shutdown overshadowing the true hiring trends [3] - The significant downward revisions of data from October and November 2025 may obscure the positive performance of December data, painting a bleaker picture of growth momentum for the quarter [3] - Market participants are cautious of the potential "January effect," where rebalancing and New Year optimism collide with high-risk data [3]

Group 1 - The core viewpoint of the article highlights the increasing demand for silver driven by its essential role in modern industrial applications, particularly in energy transition and AI technologies [2][3] - Silver is no longer just a precious metal or investment asset; it has become a critical material in the industrial system, especially as a key conductor in solar panels [2] - The explosive growth in global solar installations has led to silver demand outpacing supply growth, despite a decrease in silver usage per panel [2] Group 2 - The rise of AI has intensified demand for silver, as AI data centers rely heavily on physical materials, making silver and gold indispensable for high-performance servers and accelerators [2][3] - The simultaneous expansion of AI servers, electric vehicles, solar energy, grid upgrades, and high-end consumer electronics has created a comprehensive material bottleneck in the silver market [3] - For industrial users, silver is not a discretionary cost but a critical input necessary for production, resulting in high price inelasticity of demand for silver [3] Group 3 - Current market sentiment shows a cooling trend, with silver prices experiencing downward pressure, although the long-term outlook remains bullish [4] - The target price for silver in the long term is set at 19,500 yuan per kilogram, with a reference trading range for the main silver contract between 16,940 and 18,800 yuan [4]

Core Viewpoint - The silver market is currently experiencing a bullish trend, with prices trading above 17.17, and a focus on upcoming U.S. non-farm payroll (NFP) data that may influence the labor market outlook and Federal Reserve policy [1] Group 1: Market Analysis - As of the latest update, silver is priced at 17.29 yuan per gram, reflecting a 1.76% increase, with a high of 17.39 and a low of 16.89 [1] - Analysts from XS.com indicate that unless the NFP report exceeds expectations, the current strength of the U.S. dollar may be limited and temporary [1] - The dollar is described as being in a "fragile state," with any signs of labor market weakness potentially leading to a decline [1] Group 2: Technical Indicators - The daily chart shows that silver prices opened around the previous closing price and then rebounded, indicating a potential upward trend [1] - The one-hour Bollinger Bands suggest a prevailing bearish trend, while the MACD histogram shows a divergence indicating an emerging upward trend [1] - DMI indicates a momentum crossover leaning towards bullish, with support levels identified between 16.00 and 17.30, and resistance levels between 17.50 and 18.00 [1]