Report Industry Investment Ratings There is no information about the industry investment ratings in the provided content. Core Views - Gold: Geopolitical ceasefire [2] - Silver: Continue to surge [2] - Copper: Decreasing inventory supports prices [2] - Aluminum: Awaiting direction selection [2] - Alumina: Range-bound oscillation [2] - Aluminum alloy: Under pressure [2] - Zinc: Short - term upward movement with position reduction [2] - Lead: Bullish in the medium - term [2] - Tin: Tight current situation but weak future expectations [2] - Nickel: Loosening expectations at the distal nickel ore end, and smelting end restricts upward elasticity [2] - Stainless steel: Both supply and demand are marginally weak, and steel prices fluctuate at a low level [2] Summary by Related Catalogs Precious Metals Gold - Price and Trading Volume: The closing price of Shanghai Gold 2508 was 781.30, with a daily increase of 0.35%. The trading volume of Comex Gold 2508 decreased by 86,664 compared to the previous day, and the position decreased by 3,014 [5]. - Inventory and Spread: The inventory of Shanghai Gold remained unchanged, and the spread between Gold T + D and London Gold was 392.59 [5]. Silver - Price and Trading Volume: The closing price of Shanghai Silver 2508 was 8770, with a daily increase of 1.20%. The trading volume of Comex Silver 2508 decreased by 53,919 compared to the previous day [5]. - Inventory and Spread: The inventory of Shanghai Silver decreased by 12,761 kg, and the spread between Silver T + D and London Silver was 3,741 [5]. Copper - Price and Trading Volume: The closing price of the Shanghai Copper main contract was 78,290, with a daily increase of 0.38%. The trading volume of the London Copper 3M electronic disk decreased by 3,657 compared to the previous day [10]. - Inventory and Spread: The inventory of Shanghai Copper decreased by 8,354 tons, and the inventory of London Copper decreased by 3,325 tons. The spread between Shanghai copper spot and LME cash decreased by 280 [10]. - Macro and Industry News: Israel and Iran agreed to a comprehensive cease - fire. In May 2025, China's exports of unwrought copper and copper products decreased by 23.6% year - on - year [10][12]. Aluminum, Alumina, and Aluminum Alloy Aluminum - Price and Trading Volume: The closing price of the Shanghai Aluminum main contract was 20,365, down 100 from the previous day. The trading volume of the LME Aluminum 3M increased by 19,786 compared to the previous day [13]. - Inventory and Spread: The LME注销仓单占比 was 5.62%, down 0.52% from the previous day. The spread between the near - month contract and the consecutive - first contract was 100 [13]. Alumina - Price and Trading Volume: The closing price of the Shanghai Alumina main contract was 2,906. The trading volume of the Shanghai Alumina main contract increased by 11,654 compared to the previous day [13]. - Inventory and Spread: The spread between the near - month contract and the consecutive - first contract was 58, down 3 from the previous day [13]. Aluminum Alloy - Price and Trading Volume: The closing price of the aluminum alloy main contract was 19,680, up 40 from the previous day. The trading volume of the aluminum alloy main contract decreased by 1,426 compared to the previous day [13]. - Inventory and Spread: The spot premium was 160, down 20 from the previous day [13]. Zinc - Price and Trading Volume: The closing price of the Shanghai Zinc main contract was 21,780, with a daily increase of 0.48%. The trading volume of the London Zinc increased by 38 compared to the previous day [16]. - Inventory and Spread: The inventory of Shanghai Zinc decreased by 1,024 tons, and the LME CASH - 3M premium was - 24.65, up 2.24 from the previous day [16]. - News: Israel and Iran agreed to a comprehensive cease - fire [17]. Lead - Price and Trading Volume: The closing price of the Shanghai Lead main contract was 16,920, with a daily increase of 0.65%. The trading volume of the London Lead increased by 157 compared to the previous day [19]. - Inventory and Spread: The inventory of Shanghai Lead decreased by 100 tons, and the LME CASH - 3M premium was - 28.49, up 2.72 from the previous day [19]. - News: Israel and Iran agreed to a comprehensive cease - fire [20]. Tin - Price and Trading Volume: The closing price of the Shanghai Tin main contract was 261,880, with a daily increase of 0.51%. The trading volume of the London Tin 3M electronic disk decreased by 9 compared to the previous day [23]. - Inventory and Spread: The inventory of Shanghai Tin increased by 32 tons, and the SMM 1 tin ingot price decreased by 1,500 compared to the previous day [23]. - Macro and Industry News: Israel and Iran agreed to a comprehensive cease - fire [24]. Stainless Steel and Nickel Nickel - Price and Trading Volume: The closing price of the Shanghai Nickel main contract was 117,440, down 840 from the previous day. The trading volume of the Shanghai Nickel main contract increased by 34,478 compared to the previous day [27]. - Industry Chain Data: The price of 8 - 12% high - nickel pig iron decreased by 1, and the spread between nickel plate and high - nickel iron was 264 [27]. Stainless Steel - Price and Trading Volume: The closing price of the stainless steel main contract was 12,390, down 115 from the previous day. The trading volume of the stainless steel main contract increased by 55,928 compared to the previous day [27]. - Industry News: Some nickel - related projects in Canada, Indonesia, and the Philippines have new developments, and an Indonesian cold - rolling mill will continue to shut down for maintenance [27][28][30].
黄金:地缘政治停火,白银:继续冲高
Guo Tai Jun An Qi Huo·2025-06-24 02:06