金信期货日刊-20250829

Report Summary 1. Report Industry Investment Ratings - The report recommends an oscillating and bullish stance on coking coal futures [4]. - It suggests an oscillating and bearish view on palm oil futures [23]. 2. Core Viewpoints of the Report - The coking coal futures have been oscillating upwards recently, driven by multiple factors, presenting both opportunities and challenges [3]. - The stock index futures are expected to shift from an upward trend to high - level oscillations [7]. - The gold market will experience short - term small - scale platform oscillations [11]. - The iron ore futures are showing obvious wide - range oscillations recently [15]. - The glass futures rebounded slightly today, and attention should be paid to the lower support [19]. - The palm oil market has a declining motivation for further chasing the rise and an increasing pressure for profit - taking [23]. - The pulp market is expected to maintain low - level oscillations before the Mid - Autumn Festival peak season [27]. 3. Summary by Related Catalogs Coking Coal Futures - Supply - side factors include tightened safety regulations in Shanxi leading to coal mine production cuts and reduced imports due to lower Mongolian port clearance and rising Australian coking coal arrival prices [4]. - Demand - side factors are strong demand from the steel industry, high hot metal production, and increased coking enterprise procurement after coke price hikes [4]. - Technically, the coking coal futures have broken through key moving averages, formed a bullish arrangement, and seen a significant increase in trading volume [4]. - The price increase benefits coking enterprises but may put pressure on steel enterprises [4]. Stock Index Futures - News includes the release of the 2025 list of China's top 500 private enterprises by the All - China Federation of Industry and Commerce and the introduction of new real - estate policies in many places [7]. - The market is expected to shift from an upward trend to high - level oscillations [7]. Gold Futures - The Jackson Hole Central Bank Symposium has increased the probability of a September interest rate cut by the Fed, which is positive for gold [12]. - The weekly adjustment of gold is relatively sufficient, and it will have short - term small - scale platform oscillations [11]. Iron Ore Futures - Technically, it had a significant upward movement today, with obvious wide - range oscillations recently [15]. - High hot metal production continues, but the pattern of strong raw materials and weak finished products remains, and negative feedback due to eroded steel mill profits should be watched out for [16]. Glass Futures - Technically, it rebounded slightly today, and attention should be paid to the lower support [19]. - Daily melting is basically stable, factory inventories continue to accumulate, and the recovery of downstream deep - processing orders is insufficient. Attention should be paid to restocking before the peak season [20]. Palm Oil Futures - The oil market has seen a large cumulative increase recently, but with rising inventory pressure and lack of demand support, the motivation for further chasing the rise is declining and the profit - taking pressure is increasing [23]. Pulp Futures - High inventory is the main constraint, downstream demand has not improved, and procurement remains average. The price of coniferous pulp in Shandong has decreased today, and it is expected to maintain low - level oscillations before the Mid - Autumn Festival peak season [27].