冠通期货早盘速递-20250616

Report Summary 1. Industry Investment Rating - No industry investment rating information is provided in the report. 2. Core Viewpoints - The financial data in May is reasonably matched with the real - economy operation. The growth rates of social financing scale, M2, and RMB loans are significantly higher than the nominal GDP growth rate, and the support for the real economy remains stable. Fiscal and industrial policies are more proactive, forming a stronger synergy with monetary policy to promote the continuous recovery of the economy [2]. - The CSRC has announced the "Regulations on the Administration of Programmed Trading in the Futures Market (Trial)", which will be implemented from October 9, 2025. The futures exchange will implement key management of high - frequency trading [2]. - Due to the complex international situation and large market fluctuations, the SHFE has reminded relevant units to take measures to prompt investors to prevent risks and invest rationally [2]. - The nuclear talks between Iran and the US that were originally scheduled to be held in Oman have been indefinitely postponed [3]. 3. Summary by Relevant Catalogs Hot News - Financial Data: In May, the year - on - year growth rate of the stock of social financing scale was 8.7%, the year - on - year growth rate of M2 balance was 7.9%, and the year - on - year growth rate of M1 balance was 2.3%. In the first five months, the incremental social financing scale was 18.63 trillion yuan, 3.83 trillion yuan more than the same period last year, and RMB loans increased by 10.68 trillion yuan [2]. - Futures Regulations: The CSRC announced the "Regulations on the Administration of Programmed Trading in the Futures Market (Trial)" to be implemented on October 9, 2025, with key management of high - frequency trading [2]. - Market Risk Warning: The SHFE reminded relevant units to prompt investors to prevent risks due to complex international situations and large market fluctuations [2]. - Steel Mill Data: The blast furnace operating rate of 247 steel mills was 83.41%, a decrease of 0.15 percentage points from last week and an increase of 1.36 percentage points from last year; the blast furnace iron - making capacity utilization rate was 90.58%, a decrease of 0.07 percentage points from last week and an increase of 1.05 percentage points from last year; the steel mill profitability rate was 58.44%, a decrease of 0.43 percentage points from last week and an increase of 8.66 percentage points from last year; the daily average pig iron output was 241.61 tons, a decrease of 0.19 tons from last week [3]. - International Event: Iran's nuclear talks with the US have been indefinitely postponed after Israel's air strikes on Iran's nuclear facilities and military bases [3]. Key Focus - Focus Commodities: Urea, crude oil, rebar, lithium carbonate, and PVC [4]. Night - Session Performance - Sector Performance: Non - metallic building materials increased by 2.51%, precious metals by 30.86%, energy by 2.86%, chemicals by 12.93%, grains by 1.40%, agricultural and sideline products by 2.56%, oilseeds and oils by 11.49%, soft commodities by 2.70%, non - ferrous metals by 19.66%, and coal - coking - steel - ore by 13.03% [4][5]. Major Asset Performance | Asset Category | Name | Daily Return (%) | Monthly Return (%) | Year - to - Date Return (%) | | --- | --- | --- | --- | --- | | Equity | Shanghai Composite Index | - 0.75 | 0.88 | 0.75 | | | SSE 50 | - 0.55 | - 0.08 | - 0.31 | | | CSI 300 | - 0.72 | 0.62 | - 1.80 | | | CSI 500 | - 1.03 | 1.22 | 0.25 | | | S&P 500 | - 1.13 | 1.10 | 1.62 | | | Hang Seng Index | - 0.59 | 2.59 | 19.11 | | | German DAX | - 1.07 | - 2.01 | 18.12 | | | Nikkei 225 | - 0.89 | - 0.34 | - 5.16 | | | UK FTSE 100 | - 0.39 | 0.89 | 8.29 | | Fixed - Income | 10 - year Treasury Bond Futures | 0.02 | 0.27 | 0.09 | | | 5 - year Treasury Bond Futures | 0.04 | 0.15 | - 0.34 | | | 2 - year Treasury Bond Futures | 0.03 | 0.07 | - 0.50 | | Commodity | CRB Commodity Index | 0.00 | 4.25 | 2.04 | | | WTI Crude Oil | 8.39 | 21.44 | 2.54 | | | London Spot Gold | 1.40 | 4.40 | 30.84 | | | LME Copper | - 0.56 | 1.58 | 9.86 | | | Wind Commodity Index | 1.40 | 2.65 | 18.08 | | Other | US Dollar Index | 0.29 | - 1.30 | - 9.53 | | | CBOE Volatility Index | 15.54 | 12.12 | 20.00 | [7]