冠通期货资讯早间报-20250522

Report Industry Investment Rating No relevant content provided. Core Viewpoints The report comprehensively presents the overnight performance of global financial markets, including the trends of domestic and international futures, stocks, bonds, and foreign exchange markets. It also covers important macro - economic news, industry - specific data, and corporate earnings reports, offering a multi - faceted view of the current economic and financial situation. Summary by Directory Overnight Night - Market Market Trends - Domestic futures: Alumina rose nearly 2%, and some agricultural products like bean粕 and菜粕 also increased. SC crude oil fell over 1%, and several other commodities like paper pulp and short - fiber declined [2] - International precious metals: COMEX gold futures rose 0.97% to $3316.60 per ounce, and COMEX silver futures rose 1.21% to $33.58 per ounce [3] - International oil prices: WTI crude oil fell 1.11% to $61.34 per barrel, and Brent crude oil fell 1.13% to $64.64 per barrel [4] - London base metals: LME nickel and aluminum rose, while lead, copper, tin, and zinc declined [4] - International agricultural products: All major US agricultural products futures rose, with different growth rates [5] Important Information Macroeconomic Information - Dalian Commodity Exchange announced trading time arrangements for the 2025 Dragon Boat Festival, including closures and resumptions [8] - China - ASEAN completed the negotiation of the FTA 3.0 version [8] - EU may share a revised trade proposal with the US [8] - Economists believe Trump's policies have a negative impact on the US economy, and CPI forecasts for 2025 and 2026 were adjusted [9] - US Commerce Secretary hopes to reach trade agreements with major partners before the tariff suspension expires this summer [10] - Tensions in the Middle East, including Israel's actions and international condemnation [11][13] Energy and Chemical Futures - Chinese asphalt refinery capacity utilization and production decreased, while methanol port inventory increased [15] - Japanese commercial crude and gasoline inventories increased, and refinery capacity utilization decreased [15] - UAE's Fujairah port's refined oil inventory changed, with different trends for different products [15] - US strategic and commercial crude oil inventories reached high levels [16] - Libya owes about $1 billion in fuel debt, and the debt may triple by the end of the year [16] Metal Futures - Copper concentrate processing fees may drop to "0 dollars" due to supply - demand imbalance [19] - Guinea designated multiple mining rights as strategic reserve areas [19] - Ivanhoe Mines suspended underground mining in Congo due to earthquakes [19] - A lithium salt enterprise in Jiangxi plans to shut down for maintenance, affecting lithium carbonate production [20] - In March 2025, there was a supply surplus in global refined copper and primary aluminum [20] Black - Series Futures - HeSteel Group's silicon - manganese prices and procurement volumes changed in May [22] - Steel prices declined, while iron ore prices rose, and steel mills' profitability decreased [24] Agricultural Futures - Argentina's soybean, soybean oil, and soybean meal exports in April were reported [26] - China's imported soybean arrivals are expected to increase in May and June, while imported rapeseed arrivals will decrease [26] - Indonesia's increase in palm oil export tax may affect its competitiveness [26] - Malaysia's palm oil production increased from May 1 - 20 [26] - Expected US soybean export net sales for different market years were given [27] Financial Markets Finance - A - shares rose, with the North - Exchange 50 hitting a new high, and some sectors performed well [29] - Hong Kong stocks also increased, with some stocks hitting new highs, and southbound funds had net inflows [29] - A - share agreement transfers need "order reconstruction" due to a surge in termination cases [29] - Analysts are optimistic about Hong Kong and A - shares, and recommend certain industries [30] - International investors' interest in Chinese assets is increasing [30] - A - share companies' repurchase and increase - holding activities are active [32] - Baidu, XPeng, Weibo, and other companies released their financial reports [32] - Hengrui Medicine's H - share is to be listed on May 23 [33] Industry - Tax authorities remind investors to declare overseas stock trading income, and some frauds occur [34] - A Shanghai real - estate project sold out all units, with high sales revenue [34] - Guangdong and Chengdu introduced real - estate support policies [36] - The National Press and Publication Administration issued game licenses [36] - Bank financial product performance benchmarks are being lowered [36] - Zhejiang plans to promote the construction of the Zhejiang - Jiangxi Canal [36] - A rumor about smuggling at Nanning Customs was refuted [37] Overseas - The US may extend tax cuts, which may increase the federal deficit [38] - Fed officials advocate patience in policy adjustment [39] - EU may submit a revised trade proposal to the US [39] - The European Central Bank is close to its inflation target and may cut interest rates [39] - Trump's tariff policies affect the investment in US assets [39] - UK's CPI rose, and the market adjusted its interest - rate cut expectations [40] - Japan's exports increased, while imports decreased [40] - Germany's economic growth forecast was lowered [40] - US top 10 billionaires' wealth increased significantly [42] - Indonesia's central bank cut interest rates [43] International Stock Markets - US stocks fell due to concerns about fiscal policies and debt risks [44] - European stocks had mixed performance, with the German DAX hitting a new high [44] - Target's sales declined, and it revised its sales forecast [44] - Canada Goose's revenue and profit exceeded expectations [45] - WeRide released its financial report and plans share repurchases [45] - iQiyi's revenue and profit declined [47] Commodities - International precious metals rose due to market uncertainties [48] - International oil prices fell due to demand concerns and inventory increases [48] - London base metals had mixed performance, and the future trend is uncertain [49] - CME may include Hong Kong in its aluminum contract delivery network [49] - Myanmar's tin mines are gradually resuming production [50] Bonds - China's bond market continued to fluctuate, and the central bank conducted reverse - repurchase operations [52] - The Shanghai Stock Exchange launched bond - related pilot projects [53] - US and European bond yields rose [53] Foreign Exchange - The on - shore RMB against the US dollar rose, and the central parity rate was adjusted [54] - The US - South Korea foreign - exchange negotiation is ongoing [55] - The US dollar index fell, and most non - US currencies rose [57] Upcoming Economic Data and Events - Multiple economic data from different countries will be released on May 22 [60] - Various news conferences, policy announcements, and corporate events are scheduled [62]