冠通期货早盘速递-20250926

1. Report Industry Investment Rating - There is no information provided regarding the report industry investment rating in the given content. 2. Core Viewpoints of the Report - The US GDP in the second quarter had an annualized quarterly growth rate of 3.8%, a significant increase from the revised value of 3.3%, reaching the fastest growth rate in nearly two years, mainly due to unexpectedly strong consumer spending and a decline in imports. The final value of the core PCE price index was raised from 2.5% to 2.6% [2]. - Russia plans to implement a diesel export ban on resellers until the end of the year and extend the export ban on gasoline resellers and producers until the end of the year, except for supplies under inter - governmental agreements [2]. - As of the week ending September 25, the production of rebar increased after a decline, the factory inventory decreased for three consecutive weeks, the apparent demand increased for two consecutive weeks, and the social inventory decreased for two consecutive weeks. Rebar production was 206.46 million tons, an increase of 0.01 million tons from the previous week; the apparent demand for rebar was 220.44 million tons, an increase of 10.41 million tons from the previous week, with a growth rate of 4.96% [2]. - Starting from the settlement on September 29, 2025, the daily price limit range for industrial silicon futures contracts will be adjusted to 10%, for polysilicon futures contracts to 11%, and for lithium carbonate futures contracts to 10%. The margin standard for speculative trading will be adjusted to 12%, and for hedging trading to 11% [2]. - The "involution - style" competition in the copper smelting industry has led to continuously low processing fees for copper concentrates, which is the most prominent problem in the industry. Industry enterprises should oppose this kind of competition [3]. 3. Summaries by Related Catalogs Hot News - US second - quarter GDP annualized quarterly growth rate was 3.8%, core PCE price index final value was raised from 2.5% to 2.6% [2]. - Russia plans diesel and gasoline export bans until the end of the year [2]. - Rebar production increased, factory inventory decreased, apparent demand increased, and social inventory decreased in the week ending September 25 [2]. - Adjustments to the daily price limit range and margin standards for industrial silicon, polysilicon, and lithium carbonate futures contracts from September 29, 2025 [2]. - The copper smelting industry's "involution - style" competition problem was discussed at a meeting, and enterprises were urged to oppose it [3]. Plate Performance - Key focus: Urea, Shanghai Copper, Silver, Asphalt, PVC [4]. - Night - session performance: Non - metallic building materials (2.78%), Precious metals (31.98%), Oilseeds and oils (10.17%), Soft commodities (2.41%), Non - ferrous metals (20.18%), Coal, coke, and steel (13.66%), Energy (2.95%), Chemicals (11.55%), Grains (1.06%), Agricultural and sideline products (3.26%) [4]. Plate Position - Information about the position changes of commodity futures plates in the past five days is presented, but specific change values are not clearly summarized here due to the complex data form [5]. Performance of Major Asset Classes - Equities: Shanghai Composite Index had a daily change of - 0.01%, monthly change of - 0.12%, and annual change of 14.96%; S&P 500 had a daily change of - 0.50%, monthly change of 2.75%, and annual change of 12.86%; and other equity indices had corresponding changes [7]. - Fixed - income: 10 - year Treasury bond futures had a daily change of - 0.01%, monthly change of - 0.19%, and annual change of - 1.21%; 5 - year Treasury bond futures had a monthly change of 0.05% and an annual change of - 0.92%; 2 - year Treasury bond futures had a monthly change of - 0.09% and an annual change of - 0.63% [7]. - Commodities: CRB Commodity Index had a monthly change of - 0.82% and an annual change of 1.06%; WTI crude oil had a daily change of 0.38%, monthly change of 1.06%, and annual change of - 10.00%; London spot gold had a daily change of 0.34%, monthly change of 8.38%, and annual change of 42.36% [7]. - Others: US Dollar Index had a daily change of 0.61%, monthly change of 0.02%, and annual change of - 9.79%; CBOE Volatility Index had a monthly change of 8.33% and an annual change of - 4.09% [7].