Report Industry Investment Rating No relevant content provided. Core Viewpoints The report comprehensively presents the overnight performance of global financial markets, including futures, stocks, bonds, and foreign exchange. It also covers macro - economic news, industry policies, and corporate events, reflecting the complex and volatile nature of the current financial and economic situation. Summary by Directory Overnight Night - Market Market Trends - International oil prices rose strongly, with the US oil main contract up 1.37% at $67.92 per barrel and Brent crude up 1.84% at $69.56 per barrel [2]. - International precious metal futures closed mixed, with COMEX gold up 0.10% at $3346.40 per ounce and COMEX silver down 0.39% at $36.94 per ounce [2]. - London base metals closed down across the board, with LME zinc down 1.51% at $2683.00 per ton, LME tin down 1.31% at $33260.00 per ton, and LME copper down 0.82% at $9784.00 per ton [2]. - Domestic futures main contracts were mixed, with fuel oil up over 1% and asphalt up nearly 1%, while rapeseed meal, rapeseed oil, and corn were down nearly 1% [3]. Important Information Macro - Information - The first round of Gaza cease - fire talks in Doha ended without an agreement as the Israeli negotiation team lacked sufficient authorization [6]. - Trump announced a 10% tariff on countries aligning with BRICS' "anti - US policies", and China opposed such tariff wars [6][7]. - As of July 7, 2025, the Shanghai Export Container Settlement Freight Index (European route) rose 6.3% to 2258.04 points [7]. - The EU is making progress in tariff - trade negotiations with the US and aims to reach an agreement by July 9 [7]. - The "Magic Seas" bulk carrier sank in the Red Sea, and the Houthi armed forces claimed responsibility [8]. - The next - possible Fed chair nominee, Wash, advocated for a rate cut and said Trump's tariffs would not cause inflation [10]. - China added 10 billion yuan in central budgetary investment for work - relief projects to promote employment [11]. Energy and Chemical Futures - Goldman Sachs maintained its Q4 2025 Brent crude price forecast at $59 per barrel and 2026 at $56 per barrel, and OPEC + may increase production by 550,000 barrels per day in September [13]. - As of July 7, the MEG port inventory in East China decreased, while the benzene - ethylene port inventory in Jiangsu increased by 12.85% [13]. - The Dalian Commodity Exchange announced the listing benchmark prices for pure benzene futures contracts [13]. Metal Futures - China's central bank increased its gold reserves for the 8th consecutive month in June, reaching 73.9 million ounces [15]. - China's primary aluminum production in June 2025 was 3.6525 million tons, up 2.64% year - on - year and down 2.59% month - on - month [17]. Black - Series Futures - From January to May, China's cumulative coal production was 1.99 billion tons, with May's output hitting a record high [19]. - From June 30 to July 6, global iron ore shipments decreased, while Chinese port arrivals increased [19][20]. - A coal mine in Linfen, Shanxi, resumed production on July 5, but its output was still below normal [19]. - As of July 7, some Tangshan steel enterprises' blast furnaces were under maintenance, affecting iron - water production [20]. Agricultural Product Futures - In June, domestic soybean crushing reached a record high, and it is expected to remain high in July [23]. - As of July 4, domestic feed enterprises' soybean meal inventory days increased for the 8th consecutive week [23]. - As of July 4, cotton commercial inventory decreased, while palm oil and soybean oil inventories increased [23][24]. - As of July 7, the national imported soybean port inventory increased [25]. - India's minister called for a change in palm - oil import policy, and Argentina will export soybean meal to China for the first time [26]. - Pakistan's cotton production dropped sharply, hitting the textile industry [28]. - As of July 3, US soybean, corn, and wheat export inspection volumes were reported [28]. - As of July 5, Brazil's first - crop corn harvest rate was 97.2%, and the second - crop was 27.7% [28]. - As of July 6, the US soybean and corn good - rate were reported [28]. Financial Market Finance - A - shares closed mixed, with power and real - estate stocks rising, and innovation - drug and computing - power stocks falling [30]. - Hong Kong's Hang Seng Index fell, while the Hang Seng Tech Index rose, and south - bound funds had significant net inflows [30]. - A - shares will launch specialized and innovative indices on July 21 [32]. - Quantitative trading new rules were implemented, impacting some strategies [32]. - Public funds' position - adjustment demand increased, and "discounted - share" private - placement business heated up [32]. - Jiangsu Runyang plans to complete A - share IPO by the end of 2028, and Lens Technology will list in Hong Kong on July 9 [33]. Industry - Four departments plan to have over 100,000 high - power charging facilities by 2027 [35]. - A new national standard for passenger - car braking systems will be implemented in 2026 [35]. - The first 10 science - innovation bond ETFs were fully subscribed on the first day [36]. - As of July 7, Shenzhen's second - hand housing inventory reached a new high [37]. - Wuhan will strengthen real - estate policies and promote project launches [37]. - China's shipping industry showed improved confidence in Q2 [37]. - From January to May, China's textile industry had mixed performance in output, revenue, and exports [37]. - From January to May, China's coal production hit a record high, while imports decreased [38]. - Global new ship orders decreased by 54% year - to - date, with different performances in various ship types [40]. Overseas - The US Treasury Secretary expects to announce multiple trade agreements soon [41]. - Goldman Sachs believes the Fed may cut rates in September, with a lower terminal - rate forecast [41]. - The EU aims to reach a preliminary trade agreement with the US this week [41]. - The European Central Bank warns of increased financial - stability risks in the eurozone [41]. - Eurozone's July investor confidence and May retail sales data were reported [42]. - Germany's May industrial output showed positive growth [43]. - The UK's June housing price index had mixed performance [44]. International Stocks - US stocks closed down, with Trump's tariff announcements causing market fluctuations, while most Chinese concept stocks rose [46]. - European stocks closed mixed, affected by Trump's tariff policies and corporate news [46]. - The FBI warned of a surge in "pump - and - dump" scams targeting US stock investors [46]. Commodities - International oil prices rose, and Goldman Sachs maintained its Brent crude price forecast [47]. - International precious metal futures closed mixed, supported by economic uncertainties [47]. - London base metals closed down, with traditional metals facing demand pressure [49]. Bonds - Domestic bond yields mostly rose slightly, and the central bank conducted reverse - repurchase operations [50]. - The Ministry of Finance plans to issue multiple batches of bonds in July [50]. - US bond yields rose due to Trump's trade policies, and Japanese long - term bonds fell [50][51]. Foreign Exchange - The on - shore RMB depreciated against the US dollar, and the US dollar index rose due to Trump's tariff threats [52][54]. Upcoming Events - The China Central Bank has 13.1 billion yuan of reverse - repurchase due at 09:20 [56]. - The Reserve Bank of Australia will announce its interest - rate decision at 12:30 and hold a press conference at 13:30 [56]. - ECB's Nagel will give a speech at 22:00, and the EIA will release its monthly short - term energy outlook at 24:00 [56]. - The 12th World High - Speed Rail Congress will be held from July 8 to 11, and the E - Tang Co., Ltd. will be listed on the STAR Market [56]. - Pure benzene futures and options will be listed on the DCE starting from July 8 [56].
冠通期货资讯早间报-20250708
Guan Tong Qi Huo·2025-07-08 00:35