Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - The polysilicon futures price has changed from rising to high - level oscillation. It's too hasty to judge that the price has reached the top just based on a single - day decline. If the "anti - involution" policy is effectively implemented and the supply - demand relationship is further improved, the price still has support [4]. - The main - rising wave market of the hydropower project - related sectors continues to oscillate upwards [7]. - The general trend of gold is still bullish. It has adjusted to an important support level, and it's advisable to buy on dips [11][12]. - The iron ore futures are in a continued uptrend as the macro - environment improves and the industrial chain is in a positive feedback repair state [15][16]. - The glass futures are in a continued uptrend, and the recent trend is more driven by news and sentiment [19]. - The US new renewable fuel policy may help the early - morning performance of Malaysian crude palm oil futures, but weak exports may limit the upside [23]. 3. Summary by Related Catalogs Polysilicon Futures - The polysilicon futures price had a cumulative increase of over 50% in the recent 16 trading days, and the main contract rose 7.49% on the 17th, hitting a record high. However, it fell 0.9% at the mid - day close on the 18th [4]. - Technically, the current deviation rate is large, the price is far from the moving average, and the KDJ indicator shows a death cross at a high level, which is usually a signal of a possible price correction [4]. Hydropower Project - Related Sectors - The hydropower project is officially started, and related sectors have risen across the board. The main - rising wave market continues to oscillate upwards [7]. Gold - The Fed's decision not to cut interest rates has reduced the expectation of an interest - rate cut this year, leading to an adjustment in the gold price. But the general upward trend remains unchanged [12]. - Gold has adjusted to an important support level, and it's advisable to buy on dips [11]. Iron Ore - The macro - environment has improved, risk appetite has increased, and the iron - water output remains at a high level with decent steel - mill profits. The industrial chain is in a positive feedback repair state [16]. - Technically, the iron ore futures hit a new high today, and the uptrend continues [15]. Glass - There is no significant change in the fundamentals. The supply side has not seen a major loss - induced cold - repair situation, the factory inventory is marginally decreasing, and the restocking motivation of downstream deep - processing orders is not strong [20]. - Technically, the glass futures hit a new high today, and the uptrend continues. The recent trend is more driven by news and sentiment [19]. Palm Oil - The US new renewable fuel policy has increased the use of soybean oil in biodiesel production, pushing up the Chicago soybean oil to a contract high. Coupled with the strong rise of Dalian edible oil futures, it may help the early - morning performance of Malaysian crude palm oil futures [23]. - Weak exports of Malaysian palm oil may limit the upside [23].
金信期货日刊-20250722
Jin Xin Qi Huo·2025-07-22 00:58