Report Summary 1. Investment Ratings No investment ratings for the industries are provided in the report. 2. Core Views - The index has stable support below and significant upward breakthrough pressure. The short - term Treasury bonds may fluctuate, and the precious metals market has entered a volatile phase. The shipping index's upward momentum may slow down, and the steel and coal markets are facing price adjustments. The agricultural products market is affected by various factors such as policies and supply - demand relationships [2][3]. 3. Summary by Categories Financial Products - Stock Index Futures: The index has stable support below and large upward breakthrough pressure. It is recommended to sell put options at the support level to earn premiums or go long on the September IM contract at low prices and sell call options with a strike price of 6400 in September for a covered strategy [2]. - Treasury Bond Futures: Short - term Treasury bonds may be in a volatile state. It is advisable to wait and see, focusing on the capital market and economic data [2]. - Precious Metals Futures: Gold has formed a "double - top" pattern and entered a volatile phase. Selling out - of - the - money gold call options can be held. Silver follows gold's fluctuations and has support at $32 (8000 yuan) [2]. Commodity Futures - Shipping Index Futures: The emotional release is sufficient, and the upward momentum may slow down. Consider positive spreads for 8 - 10 and 6 - 10 contracts and wait and see for unilateral operations [2]. - Steel Futures: The spot market is stabilizing, and there are macro - level benefits. It is recommended to consider long - hot - rolled coil and short - coke or short - coking coal strategies [2]. - Coal Futures: Coke prices have entered a new round of price cuts, and coking coal prices may be bottom - hunting. It is recommended to go long on hot - rolled coil and short on coke or coking coal [2]. - Chemical Futures: Different chemical products have different trends. For example, PX and PTA have strong supply - demand drivers but limited oil price support. Short - fiber prices follow raw materials, and ethylene glycol has strong short - term support [3]. - Agricultural Futures: Different agricultural products are affected by different factors. For example, soybeans are affected by biodiesel policies, and sugar is affected by Brazilian data [3]. - Non - ferrous Metals Futures: Different non - ferrous metals have different price ranges and trends. For example, copper has strong upward pressure, and tin rebounds due to improved macro - sentiment [5]. - Energy Futures: Crude oil is affected by the progress of the US - Iran nuclear negotiation, and the short - term market is in a weak and volatile state [5].
广发期货日评-20250516
Guang Fa Qi Huo·2025-05-16 08:33