中国期货每日简报-20250829

Report Industry Investment Rating No relevant content provided. Core Viewpoints - On August 28, equity indices rose, while CGB futures fell. Most commodities declined, with energy and chemical products seeing a significant drop [4][11][13]. - The top three gainers were apple, iron ore, and corn, while the top three decliners were SCFIS(Europe), lithium carbonate, and egg [11][12][13]. Summary by Directory 1. China Futures 1.1 Overview - On August 28, equity indices rose, and CGB futures fell. Most commodities declined, with energy and chemical products having a significant drop. Apple, iron ore, and corn were the top three gainers, and SCFIS(Europe), lithium carbonate, and egg were the top three decliners [11][12][13]. 1.2 Daily Raise - Iron Ore: On August 28, it increased by 1.7% to 790.5 yuan/ton. Demand remains high, supply and inventories are stable, and prices are expected to fluctuate in the subsequent period [17][19]. - Hot - Rolled Coil & Steel Rebar: On August 28, hot - rolled coil increased by 0.8% to 3385 yuan/ton, and steel rebar increased by 0.5% to 3129 yuan/ton. The off - season is ending, steel inventories are accumulating, and the market is cautious about peak - season demand. Short - term futures are expected to fluctuate widely, and future focus should be on mill production restrictions and end - user demand [23][24][27]. 1.3 Daily Drop - Lithium Carbonate: On August 28, it decreased by 2.3% to 78140 yuan/ton. The emotional impact of mine suspension has ended, and the market is back in the game stage. There is a gradually emerging supply - demand gap, but high prices may stimulate supply release. Be cautious about extreme price movements and consider trading opportunities such as buying near - month contracts on pullbacks [32][35][36]. 2. China News 2.1 Macro News - Li Chenggang, International Trade Negotiation Representative of MOFCOM, led a delegation to visit Canada from the 24th to the 27th and will then go to Washington to meet with relevant U.S. officials [41]. - By the end of July 2025, the total balance of local government debt across the country was RMB 52.7627 trillion, with an average remaining term of 10.3 years and an average interest rate of 2.90% [41]. - Bloomberg reported that Mexico may raise tariffs on some Chinese products in the 2026 budget proposal [41]. 2.2 Industry News - As of August 27, 3290 A - share listed companies have released their 2025 interim reports, and QFII appeared in the top 10 tradable shareholders of 663 companies. QFII increased its A - share allocation in Q2, with a持仓市值 of over 12 billion yuan in the electronics industry and over 5 billion yuan in the non - ferrous metals industry [42].