黄金：震荡上行，白银：突破上行，铜：美国经济数据良好，支撑价格

Report Industry Investment Ratings Not provided in the content Core Views of the Report - Gold is expected to oscillate upward, while silver is predicted to break through and rise [2][5] - Copper prices are supported by good US economic data [2][13] - Zinc is expected to operate within a range [2][17] - The downside of lead prices may be limited [2][19] - Tin prices are weakening [2][22] - Attention should be paid to the marginal changes in aluminum inventory; alumina is expected to oscillate strongly; cast aluminum alloy is weaker than electrolytic aluminum [2][27] - Nickel is affected by news and its fundamentals are under pressure; stainless steel prices will oscillate due to the game between reality and macro factors [2][30] - Due to supply - side disturbances, the short - term trend of lithium carbonate may be strong [2][35] - For industrial silicon, pay attention to market sentiment due to warehouse receipt accumulation; the polycrystalline silicon market may rise and then fall [2][39] - Iron ore is expected to oscillate strongly supported by macro expectations [2][43] - Rebar and hot - rolled coil prices will oscillate widely due to strong market sentiment [2][46] - Silicon ferroalloy and manganese ferroalloy will oscillate widely due to strong steel procurement sentiment [2][50] - Coke has completed the first round of price increase and will oscillate widely; coking coal will oscillate widely [2][24][53] - The daily consumption of thermal coal is recovering, and its price will stabilize with oscillations [2][57] - Logs will oscillate widely [2][61] - Para - xylene and PTA will fluctuate following costs; MEG has low inventory, and positive spreads can be set up when the monthly spread is low [2][65] Summaries by Related Catalogs Precious Metals (Gold and Silver) - Core View: Gold to oscillate upward, silver to break through and rise [2][5] - Fundamentals: Yesterday's closing prices, trading volumes, positions, inventory, and spreads of gold and silver futures and spot markets are provided. The trend intensity of gold and silver is 1 [6] - News: Trump's government plans to visit the Fed; Fed Governor Waller suggests a 25 - basis - point rate cut in July; US retail sales in June increased by 0.6% month - on - month [6][8][9] Copper - Core View: US economic data supports copper prices [2][13] - Fundamentals: Yesterday's closing prices, trading volumes, positions, inventory, and spreads of copper futures and spot markets are provided. China's copper imports in June showed different trends [14] - News: US retail sales are strong, and the number of initial jobless claims last week decreased; China's copper imports in June are released [14] - Trend Intensity: 0 [16] Zinc - Core View: Zinc will operate within a range [2][17] - Fundamentals: Yesterday's closing prices, trading volumes, positions, inventory, and spreads of zinc futures and spot markets are provided [17] - News: Potential Fed Chairman candidate Warsh supports Trump's pressure on the Fed; Fed Governor Waller suggests a 25 - basis - point rate cut in July [17] - Trend Intensity: 0 [17] Lead - Core View: The downside of lead prices may be limited [2][19] - Fundamentals: Yesterday's closing prices, trading volumes, positions, inventory, and spreads of lead futures and spot markets are provided [19] - News: Similar to zinc news [20] - Trend Intensity: 0 [20] Tin - Core View: Tin prices are weakening [2][22] - Fundamentals: Yesterday's closing prices, trading volumes, positions, inventory, and spreads of tin futures and spot markets are provided [23] - News: Similar to gold and silver news [24] - Trend Intensity: - 1 [26] Aluminum, Alumina, and Cast Aluminum Alloy - Core View: Pay attention to aluminum inventory changes; alumina to oscillate strongly; cast aluminum alloy is weaker than electrolytic aluminum [2][27] - Fundamentals: Yesterday's closing prices, trading volumes, positions, inventory, and spreads of aluminum, alumina, and cast aluminum alloy futures and spot markets are provided [27] - News: Morgan Stanley believes that the Fed's independence is a "myth", and the US stock market may rise under the expectation of rate cuts; the US - India agreement is close to being reached [29] - Trend Intensity: Aluminum: 0; Alumina: 1; Cast Aluminum Alloy: 0 [29] Nickel and Stainless Steel - Core View: Nickel is affected by news and its fundamentals are under pressure; stainless steel prices will oscillate [2][30] - Fundamentals: Yesterday's closing prices, trading volumes, positions, inventory, and spreads of nickel and stainless steel futures and spot markets are provided [30] - News: Multiple events in the nickel industry, such as project production, factory shutdowns, and production recoveries [31][32] - Trend Intensity: Nickel: 0; Stainless Steel: 0 [34] Lithium Carbonate - Core View: Due to supply - side disturbances, the short - term trend of lithium carbonate may be strong [2][35] - Fundamentals: Yesterday's closing prices, trading volumes, positions, inventory, and spreads of lithium carbonate futures and spot markets are provided [35] - News: SMM's lithium carbonate index price increased; Zangge Lithium Industry stopped production; this week's lithium carbonate production increased, and inventory also increased [36][37] - Trend Intensity: 1 [37] Industrial Silicon and Polycrystalline Silicon - Core View: For industrial silicon, pay attention to market sentiment due to warehouse receipt accumulation; the polycrystalline silicon market may rise and then fall [2][39] - Fundamentals: Yesterday's closing prices, trading volumes, positions, inventory, and spreads of industrial silicon and polycrystalline silicon futures and spot markets are provided [39] - News: Bangjie Co., Ltd. terminated a photovoltaic project [39][40] - Trend Intensity: Industrial Silicon: 0; Polycrystalline Silicon: 0 [42] Iron Ore - Core View: Iron ore is expected to oscillate strongly supported by macro expectations [2][43] - Fundamentals: Yesterday's closing prices, trading volumes, positions, inventory, and spreads of iron ore futures and spot markets are provided [43] - News: The Central Urban Work Conference was held [43] - Trend Intensity: 0 [43] Rebar and Hot - Rolled Coil - Core View: Rebar and hot - rolled coil prices will oscillate widely due to strong market sentiment [2][46] - Fundamentals: Yesterday's closing prices, trading volumes, positions, inventory, and spreads of rebar and hot - rolled coil futures and spot markets are provided [46] - News: Steel production, inventory, and export data are released; June's financial data is announced [47][48] - Trend Intensity: Rebar: 1; Hot - Rolled Coil: 1 [47] Silicon Ferroalloy and Manganese Ferroalloy - Core View: Silicon ferroalloy and manganese ferroalloy will oscillate widely due to strong steel procurement sentiment [2][50] - Fundamentals: Yesterday's closing prices, trading volumes, positions, inventory, and spreads of silicon ferroalloy and manganese ferroalloy futures and spot markets are provided [50] - News: Spot prices and steel procurement prices of silicon ferroalloy and manganese ferroalloy are announced; steel production data is released [51][52] - Trend Intensity: Silicon Ferroalloy: 0; Manganese Ferroalloy: 0 [52] Coke and Coking Coal - Core View: Coke has completed the first round of price increase and will oscillate widely; coking coal will oscillate widely [2][24][53] - Fundamentals: Yesterday's closing prices, trading volumes, positions, inventory, and spreads of coke and coking coal futures and spot markets are provided [53] - News: Northern port coking coal quotes, CCI metallurgical coal index, and position changes are announced [53][54][55] - Trend Intensity: Coke: 0; Coking Coal: 1 [55] Thermal Coal - Core View: The daily consumption of thermal coal is recovering, and its price will stabilize with oscillations [2][57] - Fundamentals: Yesterday's trading situation of thermal coal futures, southern port and domestic origin quotes, and position changes are provided [58][59] - Trend Intensity: 0 [60] Logs - Core View: Logs will oscillate widely [2][61] - Fundamentals: Yesterday's closing prices, trading volumes, positions, spreads, and spot market prices of log futures are provided [62] - News: The Central Urban Work Conference was held [64] - Trend Intensity: 0 [64] Para - xylene, PTA, and MEG - Core View: Para - xylene and PTA will fluctuate following costs; MEG has low inventory, and positive spreads can be set up when the monthly spread is low [2][65] - No specific fundamentals and news are provided for these three products in the content