收评|国内期货主力合约多数上涨 铂、钯均封涨停板

Core Viewpoint - The domestic futures market experienced a majority of upward movements on December 24, 2025, with significant increases in platinum, palladium, and silver prices, while some commodities like shipping indices and polysilicon saw declines [3][7]. Group 1: Market Performance - The main contracts for platinum and palladium on the Guangxi Futures Exchange hit the daily limit, with silver rising over 8%, lithium carbonate increasing nearly 6%, and nickel up over 4% [3][7]. - In contrast, the shipping index (European line), polysilicon, and soybean meal saw declines of over 1% and nearly 1%, respectively [3][7]. Group 2: Futures Analysis - New Lake Futures noted that changes in European fuel vehicle policies have reopened demand for platinum and palladium, which had previously decreased due to the rise of electric vehicles. This, combined with rising gold and silver prices, has driven recent price increases for platinum and palladium [5]. - Guoxin Futures expects platinum group metals to maintain a strong trend in the short term, with the potential for platinum contracts to hit the daily limit again due to strong external market signals [9]. - Everbright Futures indicated that silver, platinum, and palladium continue to follow gold price trends, with strong market sentiment supporting their prices. However, caution is advised against potential market overheating [9]. - Ruida Futures highlighted that platinum prices may continue to be supported by expectations of Federal Reserve easing, ongoing structural supply-demand deficits, and long-term demand growth in the hydrogen economy. Conversely, palladium demand is expected to weaken due to over-concentration in automotive catalysts and the rise of electric vehicles, leading to a shift from supply shortages to oversupply [9].