国泰君安期货商品研究晨报：绿色金融与新能源-20250905

Report Overview - Report Date: September 5, 2025 [1][4][11][14][17] - Report Source: Guotai Junan Futures - Report Theme: Green Finance and New Energy Industry Investment Ratings - Not provided in the given content Core Views - Nickel: The fundamentals suggest a narrow - range oscillation, while news may stimulate market sentiment [2] - Stainless Steel: Steel prices will move in a narrow range [2][5] - Lithium Carbonate: With increasing production, the market is weakening [2][11] - Industrial Silicon: The strategy is to short at high prices [2][15] - Polysilicon: Attention should be paid to policy - related information [2][15] Summary by Commodity Stainless Steel - Fundamental Data: The closing price of the stainless - steel main contract was 12,855, down 60 from the previous day. The trading volume was 99,009, up 11,460. Other related data such as nickel prices, premiums, and spreads also showed various changes [5] - Macro and Industry News: Multiple events including potential nickel export halt from Canada, new nickel - iron production in Indonesia, environmental violations in an Indonesian industrial park, and production adjustments in Indonesia and China were reported [5][6][7][8][9] - Trend Intensity: The trend intensity of nickel and stainless steel is 0, indicating a neutral outlook [10] Lithium Carbonate - Fundamental Data: The closing price of the 2509 contract was 73,000, up 920. The trading volume of the 2511 contract was 712,151, up 269,351. Other data like basis, raw material prices, and product prices also changed [11] - Macro and Industry News: The SMM battery - grade lithium carbonate index price decreased, and the inventory decreased while production increased [11][13] - Trend Intensity: The trend intensity of lithium carbonate is - 1, indicating a weak outlook [13] Industrial Silicon and Polysilicon - Fundamental Data: The closing price of Si2511 was 8,515, up 25. The closing price of PS2511 was 52,195, up 35. Data on inventory, profit, and other aspects also showed changes [15] - Macro and Industry News: The Ministry of Industry and Information Technology and the State Administration for Market Regulation jointly issued a growth action plan for the electronic information manufacturing industry [15][17] - Trend Intensity: The trend intensity of industrial silicon is 0 (neutral), and that of polysilicon is 1 (slightly bullish) [17]