Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Core Views - On June 6, 2025, the Shanghai silver futures market saw a significant increase, with the main contract rising nearly 4% and hitting a record high of 8,804 yuan/kg. The increase was driven by factors such as geopolitical risks, expectations of Fed rate cuts, growing industrial demand, and the undervaluation of silver relative to gold [3]. - The silver market remains uncertain. While geopolitical easing and a shift in Fed policy could curb price increases, long - term industrial demand from the new energy sector may support prices [4]. - The stock index is expected to continue a strong and volatile upward trend next Monday due to a phone call [7]. - Gold is in a short - term oscillatory pattern but is still bullish in the long run. It's advisable to buy on dips rather than chase the price [11][12]. - Iron ore is a strong black - series variety. Despite overvaluation risks due to weak reality, falling port inventories support the market, and a bullish and oscillatory view is appropriate [15][16]. - Glass needs the effect of real - estate stimulus or major policy changes. Technically, it maintains a bullish and oscillatory view [17][18]. - Urea is expected to continue a weak adjustment in the short term, with a daily production of about 205,600 tons and an 87.23% operating rate, and slow agricultural demand [19]. 3. Summary by Related Catalogs 3.1 Shanghai Silver Futures - Price Movement: On June 6, 2025, the main contract of Shanghai silver futures rose nearly 4% to a record high of 8,804 yuan/kg [3]. - Driving Factors: Geopolitical risks, expectations of Fed rate cuts in 2025, increased industrial demand from the new energy sector, and the undervaluation of silver relative to gold [3]. - Outlook: Uncertainty exists. Short - term price increases may be curbed, but long - term industrial demand from new energy could support prices [4]. 3.2 Stock Index - Market Outlook: Expected to continue a strong and volatile upward trend next Monday due to a phone call [7]. 3.3 Gold - Market Pattern: Currently in a short - term oscillatory pattern, but bullish in the long run [12]. - Operation Suggestion: Buy on dips rather than chase the price [11]. 3.4 Iron Ore - Market Situation: Despite overvaluation risks from weak reality, falling port inventories support the market, remaining a strong black - series variety [15][16]. - Technical View: A bullish and oscillatory view is appropriate as the support level was tested effectively today [15]. 3.5 Glass - Market Condition: Supply has no major cold - repair due to losses, high factory inventories, and weak downstream demand. It awaits real - estate stimulus or major policies [17][18]. - Technical Outlook: Maintains a bullish and oscillatory view with a high - closing positive line today [17]. 3.6 Urea - Supply: Domestic daily production is about 205,600 tons, with an operating rate of about 87.23% [19]. - Demand: Agricultural demand is slow, and downstream participation is limited [19]. - Price Trend: Expected to continue a weak adjustment in the short term [19].
金信期货日刊-20250609
Jin Xin Qi Huo·2025-06-09 00:19