前三季度期市成交额同比增长24.11%

Core Insights - The Chinese futures market showed active trading in the first three quarters of the year, driven by increased demand from real enterprises and improved market service efficiency, particularly in macro-sensitive commodities [1][2] - In September, the national futures market recorded a trading volume of 770 million contracts and a trading value of 71.5 trillion yuan, with a year-on-year decrease in volume but an increase in value [1] - The cumulative trading volume for the first three quarters reached 6.744 billion contracts, with a trading value of nearly 55 trillion yuan, reflecting year-on-year growth in both volume and value [1] Market Dynamics - Analysts attribute the active trading in the futures market to three main drivers: increased volatility in international macroeconomic conditions, a higher proportion of institutional investors, and an increasingly comprehensive futures product system [2] - The volatility in commodity prices has heightened risk management needs among real enterprises, while the diversification of trading strategies by institutional investors has improved the market's service quality to the real economy [2] Commodity Focus - Precious metals, particularly silver, have gained attention due to their performance exceeding that of gold, attracting speculative funds amid rising global risk aversion [2] - Industrial silicon, a key raw material in the photovoltaic industry, has become increasingly favored by investors, especially in the context of global energy transition and China's dominant position in the solar industry [2]