商品日报20251021-20251021

Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report - Overseas risk appetite has recovered, while A-shares have continued to shrink in volume. The US government shutdown may end this week, and the market's concerns about the fiscal deadlock have eased. The US stock market has risen, and the price of gold has increased by over 2%. In China, the GDP in the third quarter increased by 4.8% year-on-year, laying a foundation for achieving the annual target. The A-share market has closed higher with shrinking volume, and the style has significantly shifted to dividend value. [2][3] - The price of precious metals has reached a new high, driven by the strong expectation of further interest rate cuts by the Federal Reserve and continuous hedging demand. The silver squeeze may end. The price of copper has rebounded due to China's stable economic growth. The price of aluminum has fluctuated due to stable macro and fundamental factors. The price of alumina has shown a weak oscillation due to the interaction between supply pressure and cost support. The price of zinc has slightly shifted upward due to the easing of trade tensions. The price of lead has oscillated at a high level due to tight regional supply. The price of tin has consolidated at a high level due to weak supply and demand. The price of industrial silicon has oscillated as demand awaits recovery. The price of lithium carbonate has oscillated due to the interweaving of long and short factors. The price of nickel has oscillated strongly due to the warm macro expectation. The prices of soda ash and glass have faced pressure due to the weakening of fundamentals. The price of steel has oscillated under pressure due to weak terminal data. The price of iron ore has oscillated weakly due to reduced arrivals and shipments. The price of soybean meal has oscillated weakly due to the progress of Brazilian soybean sowing and sufficient domestic supply. The price of palm oil has oscillated widely due to the narrowing increase in export demand. [4][6][8][9][10][12][15][16][18][20][23][24][25][26][29] Summary by Relevant Catalogs 1. Metal Main Varieties Yesterday's Trading Data - This section presents the closing data of major futures markets for various metals, including copper, aluminum, alumina, zinc, lead, nickel, tin, gold, silver, steel, iron ore, coking coal, and coke, covering information such as closing prices, price changes, price change percentages, trading volumes, and positions. [31] 2. Industrial Data Perspective - This part provides detailed industrial data for multiple metals, including copper, nickel, zinc, lead, aluminum, alumina, tin, and precious metals, such as contract prices, inventory changes, spot premiums and discounts, and price ratios between domestic and international markets. [32][35]