冠通期货资讯早间报-20250922

Report Summary 1. Overnight Night Market Trends - International precious metal futures generally rose, with COMEX gold futures up 1.12% at $3,719.4 per ounce and a weekly gain of 0.9%, and COMEX silver futures up 2.96% at $43.365 per ounce and a weekly gain of 1.25% [3] - International oil prices weakened, with the U.S. oil main contract down 1.42% at $62.36 per barrel and a weekly decline of 0.53%, and the Brent crude main contract down 1.3% at $66.05 per barrel and a weekly decline of 1.4% [4] - Most London base metals fell, with LME tin up 1.51% at $34,220 per ton and a weekly decline of 2.16%, LME copper up 0.57% at $9,996.50 per ton and a weekly decline of 0.71%, etc [4] - As of the close on September 19 at 23:00, domestic futures main contracts showed mixed results, with coking coal, iron ore, glass, and rapeseed meal up over 1%, and fuel oil, LPG, and low - sulfur fuel oil down over 1% [4] 2. Important News Macro News - The State Council executive meeting emphasized ecological protection and green development, and the Ministry of Commerce will promote the release of the automotive aftermarket consumption potential [7] - Fed's Kashkari said two more interest rate cuts this year are appropriate, and the State Council Information Office will hold a press conference on the "14th Five - Year Plan" achievements in the financial industry [7] - President Xi Jinping had a phone call with U.S. President Trump, and the U.S. Chief Justice asked Fed Governor Cook to respond to Trump's request [8] - Fed Governor Milan said gradually reaching the neutral interest rate at 50 - basis - point increments is reasonable [10] Energy and Chemical Futures - China's styrene factory output decreased by 2.03% week - on - week, and PVC production enterprise capacity utilization rates declined [12] - Russian oil product exports showed a significant decline in early September, and the EU plans to increase pressure on Russia's access to oil dollars [12][13] - U.S. President Trump called on European countries to stop buying Russian oil [14] Metal Futures - China has formed three lithium carbonate production process routes, and the Simandou iron ore project in Guinea has started the first - batch mining operations [17] - Citi expects the gold bull market to continue in the short term and forecasts Brent crude prices to decline [18] - Congo is considering extending the cobalt export ban, and the inventory of some metals in the domestic market changed last week [18][21] - India is considering establishing a strategic reserve mechanism for critical minerals [22] Black - Series Futures - Independent electric arc furnace construction steel mills are in a serious loss state and may continue to cut production [24] - Last week, the scale of construction steel mill overhauls increased, and Shanghai issued a pilot method for property tax on some personal housing [24] - The total inventory of construction steel in cities decreased by 0.58% week - on - week [25] Agricultural Product Futures - Malaysia has raised its October crude palm oil reference price, and there was news of domestic soybean oil exports to India [28] - India's sugar exports this year may be less than 800,000 tons, and the soybean crushing volume and开机率 of domestic oil mills are expected to change [28][29] - The profit of pig farming has declined, and Malaysia's palm oil exports from September 1 - 20 increased by 8.7% compared to the same period last month [29][30] 3. Financial Markets Finance - Since the implementation of the "9·24" package of policies, the A - share market has shown positive trends, with increased trading volume and new accounts [33] - Institutions have conducted intensive research on A - share companies, especially in "hard - tech" fields [33] - Goldman Sachs believes the current rally in the Chinese stock market is sustainable, and Fed's interest rate cut may drive foreign capital back to A - shares and Hong Kong stocks [34] - The average position of domestic stock private equity institutions has reached the highest level this year [36] - The number of brokerage analysts has exceeded 6,000 [37] Industry - The head of the National Data Bureau emphasized data investment in the manufacturing industry, and the government is promoting the formulation of pre - prepared food national standards [38] - China has completed the "14th Five - Year Plan" goal for pumped - storage power stations, and the power spot market has shown a guiding role in new energy consumption [40] - The operating data of some private banks showed mixed results, and China's civil aviation transport scale reached a new high in August [40][41] - The medical logistics cost in China in the first half of 2025 exceeded 50 billion yuan, and the Sanya government issued a policy on affordable rental housing [41] - The International Low - Altitude Economy Expo will be held in 2026, and Shanxi's coalbed methane production reached a record high in the first 8 months [42][43] Overseas - South Korea and the U.S. have differences in the $350 billion investment issue, and Wall Street is betting on faster and larger interest rate cuts by the Fed [45] - India and the U.S. are seeking a "mutual - benefit" trade agreement, and Argentina is negotiating to avoid a debt crisis [45] - Australia, Canada, and the UK recognized the State of Palestine [46] International Stock Markets - Musk's social platform X's revenue in Q2 2025 dropped by 40% compared to 2022, and it is accelerating its transformation into the AI field [47] Commodities - The Shanghai Futures Exchange launched new trading businesses for international copper and alumina standard warehouse receipts [49] - If Congo extends the cobalt export ban, the cobalt price may rise sharply in the short term [49] - The Oseberg oil field in Norway had an unplanned shutdown, and Iraq increased oil exports [50] Bonds - Many banks have redeemed "Tier 2 and Perpetual Bonds", and the issuance scale of special new special bonds for "repaying local government arrears to enterprises" has exceeded 1.2 trillion yuan [51] 4. Upcoming Economic Data and Events - Economic data to be released include China's September LPR, China Hong Kong's August CPI, etc [54] - Events include the Australian Reserve Bank Governor's testimony, a press conference on the financial industry's "14th Five - Year Plan" achievements, etc [56]