股指期货将偏强震荡，白银、铜期货将偏强震荡，原油期货将偏弱震荡，螺纹钢、焦煤、玻璃期货将偏弱震荡

Report Summary 1. Report Industry Investment Rating No investment rating for the industry is provided in the report. 2. Core Viewpoints Through macro - fundamental analysis and technical analysis such as the golden ratio line, horizontal line, and moving average, the report predicts the trend of various futures on September 12, 2025, including whether they will be in a strong or weak oscillation, and provides corresponding support and resistance levels [2]. 3. Summary by Related Catalogs 3.1 Futures Market Forecast - Strong Oscillation Futures: Index futures (IF2509, IH2509, IC2509, IM2509), silver futures (AG2510), copper futures (CU2510), aluminum futures (AL2510), and polysilicon futures (PS2511) are expected to be in a strong oscillation [2][3][4]. - Weak Oscillation Futures: Alumina futures (AO2601), rebar futures (RB2601), hot - rolled coil futures (HC2601), coking coal futures (JM2601), glass futures (FG601), crude oil futures (SC2510), PTA futures (TA601), and PVC futures (V2601) are expected to be in a weak oscillation [3][4][7]. - Wide - range Oscillation Futures: Ten - year Treasury bond futures (T2512), thirty - year Treasury bond futures (TL2512), lithium carbonate futures (LC2511), and iron ore futures (I2601) are expected to be in a wide - range oscillation [3][4]. - Oscillation and Consolidation Futures: Gold futures (AU2510) and soda ash futures (SA601) are expected to oscillate and consolidate [3][5]. 3.2 Macro News and Trading Tips - International Trade: Mexico plans to raise import tariffs, and China will take necessary measures to safeguard its legitimate rights and interests. China and Indonesia have launched a bilateral currency settlement framework and QR code interconnection cooperation project [7]. - Bond Market: The yield of 10 - year and 30 - year Treasury bonds in China has declined, and the market's expectation of the central bank restarting Treasury bond trading operations has increased. The international central bank's gold reserve ratio has exceeded that of US Treasury bonds for the first time since 1996 [8][10]. - Reform and Policy: China will conduct a comprehensive reform pilot of factor market allocation in 10 regions. The Fourth Global Digital Trade Expo will be held in Hangzhou, and China will encourage foreign investment in the digital field. The government will also support foreign - trade enterprises to stabilize the foreign - trade market [8][9]. - Medical and Health: China has built the world's largest medical service system, with the basic medical insurance covering over 1.3 billion people, and the per - capita life expectancy has increased [9]. - US Economy: In August 2025, the US CPI was in line with expectations, and the number of initial jobless claims reached a new high since October 2021. Traders expect the Fed to cut interest rates three times by the end of the year [10]. 3.3 Futures Market Analysis and Forecast - Index Futures: On September 11, 2025, major index futures such as IF2509, IH2509, IC2509, and IM2509 generally showed a trend of opening low, then rising after a decline, with varying degrees of increase. The A - share market had a large - scale increase, with the ChiNext Index rising by 5.15% and regaining the 3000 - point mark [13][14][15]. - Treasury Bond Futures: The ten - year Treasury bond futures (T2512) and thirty - year Treasury bond futures (TL2512) showed an oscillatory trend on September 11, with the former rising slightly and the latter falling slightly [36][39]. - Precious Metal Futures: Gold futures (AU2510) and silver futures (AG2510) had a slight decline and a slight increase respectively on September 11. Technically, gold futures still show a long - term upward trend [41][47]. - Base Metal Futures: Copper futures (CU2510), aluminum futures (AL2510), and alumina futures (AO2601) had different trends on September 11, with copper and aluminum showing a slight increase and alumina showing a weak upward trend [52][57][62]. - Energy and Chemical Futures: Crude oil futures (SC2510) rose slightly on September 11, while PTA futures (TA601) and PVC futures (V2601) had different trends, with PTA showing a weak downward pressure and PVC rising slightly [95][99][101]. - Building Materials and Steel Futures: Rebar futures (RB2601), hot - rolled coil futures (HC2601), iron ore futures (I2601), coking coal futures (JM2601), and glass futures (FG601) had different trends on September 11, with some showing a downward trend and some showing an upward trend [73][75][78]. - New Energy Futures: Polysilicon futures (PS2511) and lithium carbonate futures (LC2511) rose on September 11, with polysilicon rising more significantly [66][67]. - Soda Ash Futures: Soda ash futures (SA601) rose slightly on September 11 [91].