Report Industry Investment Rating No relevant content provided. Core Viewpoints The report comprehensively presents the overnight performance of various international and domestic futures markets, important macro - economic and industry - specific news, and the trends in financial markets including stocks, bonds, and foreign exchange. It also provides upcoming economic data release schedules and event calendars. Summary by Directory Overnight Night - Market Futures Trends - International precious metal futures generally rose, with COMEX gold up 0.19% to $3680.70/ounce (weekly up 0.75%) and COMEX silver up 1.26% to $42.68/ounce (weekly up 2.71%) due to rising Fed rate - cut expectations [3]. - International oil prices strengthened slightly, with US crude up 0.37% to $62.60/barrel (weekly up 1.18%) and Brent up 0.77% to $66.88/barrel (weekly up 2.11%) because of supply concerns from port disruptions [3]. - London base metals all rose, supported by expectations of a Fed rate - cut cycle that could reduce commodity holding costs and boost demand [4]. - Most domestic futures contracts rose, with fuel oil, coke, and coking coal up over 2%, while rapeseed meal fell over 1% [5]. - US agricultural products like soybeans, corn, and others also rose [7]. Important News Macro News - The CSRC revised the "Regulations on the Classification and Supervision of Futures Companies" to improve the regulatory system [9]. - Russia - Ukraine peace talks paused, and the EU was accused of hindering the process [10]. - China issued 500 billion yuan of special treasury bonds to inject capital into large commercial banks, expected to leverage about 6 trillion yuan in credit [10]. - Zhengzhou Commodity Exchange adjusted option order volume limits from September 17 [10]. - Shipping indices declined, with the Shanghai Export Containerized Freight Index down 46.33 points and the China Export Containerized Freight Index down 2.1% [10]. - Trump threatened new sanctions on Russia due to stalled cease - fire efforts [11]. - Eight departments issued a plan to support the auto industry's stable growth [13]. Energy and Chemical Futures - The US suggested the EU could replace Russian gas with US LNG in 6 - 12 months [15]. - A subsidiary of Huayi Group permanently shut down a methanol plant with a 950,000 - ton capacity [15]. - Ukraine's drone attack on a Russian oil terminal caused supply concerns [15]. - China's styrene production and capacity utilization declined [15]. - The US proposed a 100% tariff on Russian oil purchases by G7 countries [17]. Metal Futures - China's central bank and customs solicited opinions on gold import/export permit regulations [20]. - The weekly operating rate of recycled lead plants dropped due to losses and maintenance [20]. - Copper production of sample enterprises increased in 1 - 8 months of 2025 [20]. - Metal inventories on the SHFE changed, with some increasing and lead decreasing [21]. - UBS raised its gold price targets for 2025 and 2026 [22]. - A zinc smelter had a 5 - day maintenance, affecting output [23]. - Lithium carbonate production increased, and inventory decreased slightly [23]. - Zijin Mining's lithium project in Argentina was put into operation [24]. Black - Series Futures - Shanxi Coking Coal's mine resumed production after a 15 - day shutdown [27]. - Silicon alloy inventories increased [27]. - The second round of coke price cuts was initiated [27]. - Steel mill production indicators and iron ore inventories changed [27][28]. - Steel social inventories continued to rise [28]. Agricultural Futures - China's soybean imports were estimated to increase, and corn imports to decrease in 2024/25 [32]. - Oil mill soybean crushing volume and开机率 were higher than expected [32]. - Indonesia might increase biodiesel's palm oil blending ratio [32]. - Pig - raising profits changed, with self - breeding profitable and purchased - piglet breeding in loss [32]. - Malaysian palm oil production might peak in September - October [33]. - Imported cotton inventory decreased [34]. - Malaysian palm oil exports in September 1 - 10 decreased [35]. - The US USDA raised its 2025/2026 soybean production forecast [37]. Financial Markets Finance - A - shares rose significantly, with large trading volume, while some pharmaceutical concepts declined [39]. - Hong Kong's Hang Seng Index fell, and there were changes in capital flows [39]. - The ChiNext Index returned to 3000 points, and its rise was related to weight stocks [39]. - Some low - priced A - shares fell, and many investors wanted to increase exposure to China [40][41]. - A - share refinancing increased significantly this year [41]. - Hesai Technology set its IPO price in Hong Kong [41]. Industry - New energy vehicle purchase tax will be halved in 2026 - 2027 [42]. - China's auto production and sales increased in August, with new energy growing faster [42]. - HPV vaccines will be included in the national immunization program [42]. - Some illegal financial accounts were punished [44]. - Labor agreements with platform companies are being negotiated [44]. - 2025 brokerage classification results are expected soon [44]. - Bank wealth management scale increased in August [44]. - Some Taobao gold - repurchase businesses were suspended [45]. - China's express delivery index increased in August [46]. Overseas - The European Central Bank kept rates unchanged, and traders expected the end of the rate - cut cycle [47]. - South Korea's president refused to make unfavorable deals, and the central bank might cut rates [49]. - Switzerland proposed a plan to resolve trade disputes with the US [49]. - Turkey's central bank cut rates more than expected [49]. International Stock Markets - US stocks reached new highs, with expectations of Fed rate cuts [50]. - European stocks rose due to inflation data and rate - cut expectations [50]. - Asian - Pacific stocks continued to rise, with Japan and South Korea at new highs [50]. - Japan's central bank plans to reduce ETF holdings [52]. - Tata Capital plans a large - scale IPO in India [52]. - Adobe reported its Q3 earnings and provided forecasts [52]. Commodities - International precious metals had mixed results, with gold down and silver up [53]. - Oil prices fell due to increased supply and weak demand [53]. - The IEA expected an oil supply surplus in 2026 [53]. - OPEC maintained its oil demand growth forecasts [55]. - London base metals rose due to Fed rate - cut expectations [55]. Bonds - China's bond market had a mixed performance, with short - term bonds stronger [56]. - US bond yields had different changes [56]. Foreign Exchange - The on - shore RMB against the US dollar weakened slightly, while the mid - price strengthened [57]. - The US dollar index fell, and most non - US currencies rose [57]. Upcoming Economic Data and Events - Various economic data from different countries will be released at specific times [60]. - There are central bank operations, policy announcements, and other events scheduled [62].
冠通期货资讯早间报-20250915
Guan Tong Qi Huo·2025-09-15 02:57