黄金：地缘冲突缓和白银：高位回落

Report Industry Investment Ratings No industry investment ratings are provided in the report. Core Viewpoints - The report provides a daily outlook for various commodities futures, including precious metals, base metals, energy, agricultural products, etc. Each commodity is analyzed based on its fundamentals, macro and industry news, and assigned a trend strength rating [2]. Summaries by Commodity Precious Metals - Gold: Geopolitical conflicts have eased, with a trend strength of 0 [2][7]. - Silver: Prices have fallen from high levels, with a trend strength of 0 [2][7]. Base Metals - Copper: Lacks driving forces and is expected to trade in a range, with a trend strength of 0 [2][13]. - Aluminum: Expected to trade in a range, with a trend strength of 0 [2][16]. - Alumina: Expected to trade weakly, with a trend strength of 0 [2][16]. - Zinc: Under pressure, with a trend strength of -1 [2][19]. - Lead: Bullish in the medium term, with a trend strength of 0 [2][21]. - Tin: Tight supply in the short term but weak expectations, with a trend strength of 0 [2][24]. - Nickel: Concerns about the ore end have cooled, and smelting supply is elastic, with a trend strength of 0 [2][29]. - Stainless Steel: Negative feedback has led to increased production cuts, with weak supply and demand and low - level oscillations, with a trend strength of 0 [2][29]. Energy and Chemicals - Carbonate Lithium: The cost - downward trend continues, and lithium prices may remain weak, with a trend strength of 0 [2][33]. - Industrial Silicon: Adopt a short - selling strategy, with a trend strength of -1 [2][37]. - Polysilicon: Pay attention to market sentiment changes, with a trend strength of -1 [2][38]. - Iron Ore: Expectations are volatile, and prices will trade in a range, with a trend strength of 0 [2][41]. - Rebar: Subject to macro - sentiment disturbances, wide - range oscillations, with a trend strength of 0 [2][43]. - Hot - Rolled Coil: Subject to macro - sentiment disturbances, wide - range oscillations, with a trend strength of 0 [2][43]. - Silicon Ferrosilicon: Wide - range oscillations due to sector - sentiment resonance, with a trend strength of 1 [2][47]. - Silicon Manganese: Wide - range oscillations due to sector - sentiment resonance, with a trend strength of 1 [2][47]. - Coke: Stricter safety inspections, wide - range oscillations, with a trend strength of 0 [2][51]. - Coking Coal: Stricter safety inspections, wide - range oscillations, with a trend strength of 0 [2][51]. - Steam Coal: Demand needs to be released, wide - range oscillations, with a trend strength of 0 [2][55]. - LPG: Geopolitical uncertainties increase, and the support for the futures price weakens [2][52]. - PVC: Short - term oscillations, with downward pressure in the long - term [2][55]. - Fuel Oil: Retreated at night, and short - term strength is expected to ease [2][57]. - Low - Sulfur Fuel Oil: Weakened in the short - term, and the price spread between high - and low - sulfur fuels in the overseas spot market has slightly narrowed [2][57]. Agricultural Products - Palm Oil: The US bio - diesel policy and geopolitical risks are both positive [2][64]. - Soybean Oil: The short - term regression of the soybean - palm oil price spread is blocked [2][64]. - Soybean Meal: US soybeans rose overnight, and Dalian soybean meal oscillates [2][66]. - Soybean No. 1: Heilongjiang Province's reserve auction announcement has led to market adjustments and oscillations [2][66]. - Corn: Oscillating strongly, with a trend strength of 0 [2][68]. - Sugar: Started to rebound [2][70]. - Cotton: Pay attention to the impact of external markets [2][71]. - Eggs: The elimination of laying hens is accelerating [2][73]. - Pigs: Still waiting for spot - market confirmation [2][74]. - Peanuts: There is support at the bottom [2][75]. Others - Container Shipping Index (European Line): The 08 contract shows an oscillating trend, and hold short positions in the 10 contract [2][58]. - Short - Fiber: Pay attention to the increasing cost volatility, and prices will oscillate at high levels [2][62]. - Bottle Chips: Pay attention to the increasing cost volatility, and prices will oscillate at high levels [2][62]. - Offset Printing Paper: Oscillating [2][63]. - Log: Wide - range oscillations, with a trend strength of 0 [2][59].