金信期货日刊-20250908

Group 1: Report Information - Report Title: Glass Futures Rising Analysis and Market Outlook [2] - Report Date: September 8, 2025 [1] Group 2: Glass Futures Analysis Core View - On September 5, 2025, glass futures rose significantly, with the closing price up 56 yuan from the previous day, a 4.94% increase to 1189 yuan. Multiple factors contributed to this increase, and it is recommended to buy on dips [3]. Supply - Side Factors - Although the overall glass production capacity and output were relatively stable, recent cold repairs of some production lines reduced the market supply expectation, providing a basis for price increases [3]. Demand - Side Factors - Demand from urban renewal, old - community renovation, interior decoration, the automotive industry, home appliances, glass exports, tourism and commercial construction, the photovoltaic industry, and e - commerce logistics packaging increased, offsetting the decline in demand from the new commercial housing completion stage [3]. Market Sentiment Factors - The anti - involution theme fermented again, increasing the trading volume of the glass futures market and attracting more funds, which also pushed up the price [3]. Group 3: Technical Analysis of Different Futures Stock Index Futures - The State Council issued a policy on sports consumption with a total scale of over 7 trillion yuan. The market is expected to continue to fluctuate upward in the short term [6]. Gold Futures - The US July PCE price data met expectations, increasing the probability of a September interest rate cut, which is positive for gold. The weekly adjustment is sufficient, and there is a short - term upward trend [11]. Iron Ore Futures - Technically, it is still in a high - level wide - range shock range. The iron - water output is high, but the pattern of strong raw materials and weak finished products remains. Be wary of negative feedback due to eroded steel mill profits [14][15]. Glass Futures - Technically, it rebounded significantly. The daily melting volume is stable, factory inventories continue to accumulate, and downstream deep - processing orders have not fully recovered. Pay attention to the restocking situation approaching the peak season [18][19]. Palm Oil Futures - The oil market has risen a lot recently. With increased inventory pressure and lack of demand, the motivation to chase the rise has decreased, and the profit - taking pressure has increased. Treat it with a bearish bias [21]. Pulp Futures - The pulp price in Shandong remained stable, and port inventories began to decline slightly, boosting the futures price. There is an expected boost before the Mid - Autumn Festival peak season, but no improvement has been seen yet. Maintain a view of low - level shocks and recommend waiting and seeing [25].