Report Industry Investment Rating No relevant content provided. Core Views of the Report - The precious metals market continues to perform strongly, with gold and silver prices hitting new highs. The long - term narrative of gold as the ultimate safe - haven asset is becoming more prominent, and its demand is expected to increase further. [1][2][18] - The copper market is affected by factors such as tight concentrate supply, high smelting output, and the Indonesian mine accident, which may lead to a supply - demand gap and support copper prices in the long term. [2][19] - The crude oil market has a short - term downward breakthrough trend, although the demand is expected to grow in the next two years according to OPEC's report. [3][12] - The stock index is likely to maintain a long - term upward trend, but short - term fluctuations may increase due to Sino - US trade issues. The market style may become more balanced in the fourth quarter. [9] - The bond market is expected to be supported by a loose monetary policy, and the price of bond futures is recommended to be bullish. [10][11] Summary by Directory 1. Main News Concerns International News - US President Trump hinted at canceling new tariffs on China. [5] - The leaders of the US, Egypt, Turkey, and Qatar signed a cease - fire agreement for Gaza at the "Peace Summit" in Sharm El - Sheikh. [1][3][12] Domestic News - In September, China's goods trade imports and exports increased by 8% year - on - year. The export was 2.34 trillion yuan, up 8.4%, and the import was 1.7 trillion yuan, up 7.5%. China's rare earth exports in September decreased for the third consecutive month. [6] Industry News - China has officially implemented a special port fee for US ships starting today. [7] 2. Overseas Market Daily Returns | Variety | Unit | 10/12 | 10/13 | Change | Change Rate | | --- | --- | --- | --- | --- | --- | | S&P 500 | Points | 6,552.51 | 6,654.72 | 102.21 | 1.56% | | European STOXX50 | Points | 4,701.04 | 4,719.93 | 18.89 | 0.40% | | FTSE China A50 Futures | Points | 14,978.00 | 14,805.00 | - 173.00 | - 1.16% | | US Dollar Index | Points | 98.82 | 99.26 | 0.44 | 0.44% | | ICE Brent Crude Continuous | USD/Barrel | 62.09 | 63.39 | 1.30 | 2.09% | | London Gold Spot | USD/Ounce | 4,017.85 | 4,110.02 | 92.17 | 2.29% | | London Silver | USD/Ounce | 50.13 | 52.33 | 2.20 | 4.39% | | LME Aluminum | USD/Ton | 2,746.00 | 2,757.00 | 11.00 | 0.40% | | LME Copper | USD/Ton | 10,374.00 | 10,802.00 | 428.00 | 4.13% | | LME Zinc | USD/Ton | 2,984.50 | 3,012.00 | 27.50 | 0.92% | | LME Nickel | USD/Ton | 15,215.00 | 15,180.00 | - 35.00 | - 0.23% | | ICE No.11 Sugar | Cents/Pound | 16.1 | 15.57 | - 0.53 | - 3.29% | | ICE No.2 Cotton | Cents/Pound | 63.77 | 63.54 | - 0.23 | - 0.36% | | CBOT Soybeans | Cents/Bushel | 1,007.00 | 1,008.25 | 1.25 | 0.12% | | CBOT Soybean Meal Current | USD/Short Ton | 275.60 | 274.50 | - 1.10 | - 0.40% | | CBOT Soybean Oil Current | Cents/Pound | 49.97 | 50.53 | 0.56 | 1.12% | | CBOT Wheat Current | Cents/Bushel | 498.75 | 496.75 | - 2.00 | - 0.40% | | CBOT Corn Current | Cents/Bushel | 413.50 | 410.50 | - 3.00 | - 0.73% | [8] 3. Morning Comments on Major Varieties Financial - Stock Index: After the high - level shock in September, the stock index is likely to enter a direction - selection stage again, with a high probability of maintaining a long - term upward trend. Short - term fluctuations may increase due to Sino - US trade issues. The market style may become more balanced in the fourth quarter. [9] - Treasury Bonds: Treasury bonds generally rose, and the yield of the 10 - year Treasury bond active bond dropped to 1.754%. With a loose monetary policy expected, the price of Treasury bond futures is recommended to be bullish. [10][11] Energy and Chemicals - Crude Oil: SC rebounded 0.27% at night. Although OPEC expects oil demand to grow in the next two years, the short - term trend is downward. [3][12] - Methanol: Ma fell 0.26% at night. With high inventory and expected import arrivals, methanol is short - term bullish. [13] - Rubber: Natural rubber prices fell on Monday. With smooth supply and slow inventory reduction, the price is expected to be weak in the short term. [14] - Polyolefins: Polyolefin futures are weakly operating. The price follows the cost - end fluctuations, and the market sentiment is cautious. [15] - Glass and Soda Ash: Glass futures continue to be weak, and soda ash futures closed positive. The market is cautious, and the focus is on consumption in autumn and policy changes. [16][17] Metals - Precious Metals: Gold benefits from concerns about the resurgence of the trade war and expectations of two interest rate cuts this year. It is expected to strengthen as the ultimate safe - haven asset. [2][18] - Copper: Copper prices rose 1.64% at night. The Indonesian mine accident may lead to a supply - demand gap, supporting copper prices in the long term. [2][19] - Zinc: Zinc prices rose 0.13% at night. Domestic zinc prices may be weaker than foreign ones, and it follows copper prices in the short term. [20] - Lithium Carbonate: Supply and demand both increased, and the inventory decreased. The price is supported, and there is an expectation of project resumption. [21] Black Commodities - Coking Coal and Coke: The night - session prices were weak, and short - term fluctuations are expected to intensify due to factors such as steel production and Sino - US trade issues. [22] - Iron Ore: With strong demand from steel mills and reduced global shipments, the iron ore market is expected to be bullish. [23] - Steel: The supply pressure is increasing, and the inventory is accumulating. The market has a weak supply - demand balance, and hot - rolled coils perform better than rebar. [24] Agricultural Products - Protein Meal: Night - session prices of soybean and rapeseed meal rose. US soybean prices are expected to be weak, while domestic prices may rise due to supply concerns. [25] - Oils and Fats: Night - session prices were strong. Although short - term pressure exists due to inventory and trade issues, long - term support comes from the production season and bio - diesel policies. [26] - Sugar: International sugar prices are expected to be volatile, and domestic sugar prices are expected to be weak due to supply pressure. [27][28] - Cotton: US cotton prices fell, and domestic cotton prices are expected to be weak due to factors such as new - cotton supply and weak downstream demand. [29] Shipping Index - Container Shipping to Europe: The text seems to have a wrong insertion, repeating the content of precious metals. No valid information about container shipping to Europe is provided. [30]
首席点评：贵金属行情延续
Shen Yin Wan Guo Qi Huo·2025-10-14 05:30