冠通期货资讯早间报-20250722

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report The report comprehensively presents the overnight performance of the futures market, important macro - level news, updates in various industries such as energy, metals, black - series, and agriculture, as well as the trends in the financial market including stocks, bonds, foreign exchange, and the upcoming events schedule [2][9][36]. 3. Summary by Relevant Catalogs Overnight Night - Market Trends - Domestic futures: On Monday night, domestic futures had mixed results. Coking coal rose over 6%, while alumina, soda ash, glass, and coke rose over 3%. SC crude oil and asphalt fell over 1%, and soybean oil, rapeseed meal, and low - sulfur fuel oil (LU) fell nearly 1% [2]. - International precious metals: COMEX gold futures rose 1.55% to $3410.30 per ounce, and COMEX silver futures rose 2.02% to $39.24 per ounce [3]. - International oil prices: WTI crude oil fell 0.41% to $65.78 per barrel, and Brent crude oil fell 0.36% to $69.03 per barrel [4]. - London base metals: LME nickel rose 1.92% to $15510.00 per ton, LME zinc rose 0.92% to $2844.50 per ton, and LME copper rose 0.91% to $9867.00 per ton [5]. - International agricultural products: US soybeans fell 1.22%, US corn fell 1.10%, US soybean oil rose 0.41%, US soybean meal fell 1.17%, and US wheat fell 0.82% [6]. Important News - Macro - news: The central bank kept the one - year and five - year LPR unchanged at 3% and 3.5% respectively; the "Housing Rental Regulations" will be implemented from September 15, 2025; the Shanghai Export Container Settlement Freight Index (European route) dropped 0.9% to 2400.50 points; in June, total social electricity consumption was 867 billion kWh, a year - on - year increase of 5.4% [9][10]. - Energy and Chemical Futures: The premium for the alternative delivery product of caustic soda futures was adjusted from 80 yuan/ton to 150 yuan/ton; on July 22, 2025, the listing benchmark price of the first batch of propylene futures contracts was 6350 yuan/ton; as of July 21, the MEG port inventory in the East China main port area continued to decline [20][22]. - Metal Futures: Yichun Yinli plans to shut down for equipment maintenance; in June 2025, global primary aluminum production was 6.045 million tons; in the third week of July 2025, Brazil's copper and aluminum ore shipments increased compared to the same period last year [24]. - Black - series Futures: From July 14 - 20, 2025, the arrival volume of iron ore at Chinese ports decreased; the global iron ore shipment volume increased; coke enterprises decided to raise prices; in the third week of July 2025, Brazil's iron ore shipments decreased compared to the same period last year, but the daily shipment volume increased [26][28][29]. - Agricultural Futures: From July 1 - 20, 2025, Malaysia's palm oil production increased, but exports decreased; India's vegetable oil inventory increased significantly; it is estimated that Brazil's corn production in the 2024/2025 season will reach 136.3 million tons; in the third week of July 2025, Brazil's soybean shipments decreased compared to the same period last year, but the daily shipment volume increased; as of July 20, the US soybean and corn good - to - excellent rates were reported [31][33][34]. Financial Market - Financial: The A - share market continued to rise, with the Shanghai Composite Index hitting a new high for the year; the Hong Kong stock market also rose, and the number of IPOs and the amount of funds raised in Hong Kong increased significantly; some Hong Kong and US stock investors received tax - supplement notices; the top three stocks held by active equity funds were Tencent, CATL, and Kweichow Moutai [36][37][39]. - Industry: As of June 2025, China's Internet user scale reached 1.123 billion, with an Internet penetration rate of 79.7%; China's express delivery volume ranked first in the world for 11 consecutive years; Chengdu introduced 17 new real - estate policies [43][45]. - Overseas: In Japan's Senate election, the ruling coalition lost its majority; Fitch downgraded the outlook of 25% of US industries; the "OBBBA" bill will increase the US fiscal deficit by $3.4 trillion in the next decade; the EU may take counter - measures against the US [46][48]. - International Stock Markets: US and European stock markets had mixed results; the London Stock Exchange is studying the feasibility of extending trading hours; South Korea is considering raising the stock trading tax; Stellantis reported a net loss in the first half of the year; Verizon's second - quarter revenue exceeded expectations [51][52][53]. - Commodities: Propylene futures were listed on July 22; international precious metals rose, international oil prices fell slightly, and London base metals rose [55]. - Bonds: The central bank plans to cancel the freeze of bond repurchase collateral; the domestic bond market weakened; the euro - zone and US bond yields fell [57][58][60]. - Foreign Exchange: The on - shore RMB against the US dollar fell slightly; the US dollar index fell [61]. Upcoming Events On July 22, there are multiple events including central bank operations, policy announcements, corporate earnings reports, and new stock subscriptions; on July 22 - 23, the 12th Trusted Cloud Conference will be held; propylene futures and options will be listed on the Zhengzhou Commodity Exchange [64].