股指期货将震荡整理，黄金、白银、铜、玻璃、纯碱、原油、PTA期货将偏弱震荡，碳酸锂、豆粕期货将偏强震荡

Report Industry Investment Rating No relevant content provided. Core Viewpoints Through macro - fundamental analysis and technical analysis using tools like the golden ratio line, horizontal line, and daily moving average, the report predicts the likely trends of today's futures main contracts. Specifically, stock index futures will fluctuate and consolidate; gold, silver, copper, glass, soda ash, crude oil, and PTA futures will weakly fluctuate; lithium carbonate and soybean meal futures will strongly fluctuate [2]. Summary by Related Catalogs 1. Macro Information and Trading Tips - The US Treasury Secretary threatened to impose tariffs on China if China continues to block rare - earth exports, and China's Foreign Ministry responded that dialogue and cooperation are the right approaches [8]. - China and the EU held export - control dialogue consultations in Brussels, aiming to promote the stability and smoothness of the industrial and supply chains [8]. - China's Ministry of Finance established a Debt Management Department to manage government debt and prevent risks, and emphasized not to increase implicit debt [8]. - China extended the visa - free policy for 45 countries until December 31, 2026, included Sweden in the visa - free list, and resumed group - tour services to Canada [8]. - China's National Immigration Administration announced 10 innovative measures to support high - quality development, covering multiple fields such as talent cross - border flow and customs clearance [9]. - Goldman Sachs' China research team raised its forecasts for China's export growth and real GDP growth, expecting China's exports to grow by 5 - 6% annually in the coming years and lifting the 2025 real GDP growth forecast from 4.9% to 5% [9]. - A Fed governor called for more aggressive interest - rate cuts, stating that the current policy is too restrictive [9]. - Another Fed governor said that each Fed meeting is a real - time decision on monetary policy, and there is a possibility of a rate cut in December depending on new information [9]. - The US Transportation Secretary said that the government might shut down the US aviation system if the federal government "shutdown" endangers aviation safety, and the US lacks 2000 - 3000 air traffic controllers [9]. - As of September, US companies' announced lay - offs approached 950,000, the highest level since 2020, with the government sector being the hardest - hit [10]. - The US October ISM manufacturing PMI was 48.7, contracting for the eighth consecutive month, and new orders declined for the second consecutive month [10]. - The eurozone's October manufacturing PMI was 50, with new orders stagnant and exports falling for four consecutive months, and German and French manufacturing PMIs remained in the contraction zone [10]. 2. Commodity Futures - Related Information - On November 3, international precious metals closed with mixed results. COMEX gold futures rose 0.43% to $4013.7 per ounce, and COMEX silver futures fell 0.52% to $47.91 per ounce [11]. - On November 3, US crude oil and Brent crude oil main contracts both rose slightly. OPEC+ decided to suspend the planned production increase in Q1 2026, and some institutions raised their oil - price forecasts [11]. - On November 3, London base metals showed mixed performance. LME zinc, aluminum, and lead rose, while tin, copper, and nickel declined [11]. - On November 3, the on - shore RMB against the US dollar closed down, and the central parity rate rose. The US dollar index rose, and most non - US currencies fell [12]. 3. Futures Market Analysis and Outlook Stock Index Futures - On November 3, the main contracts of CSI 300, SSE 50, CSI 500, and CSI 1000 stock index futures showed different trends, with overall weak rebounds. It is expected that in November 2025, these contracts will have wide - range fluctuations, and on November 4, they will fluctuate and consolidate [12][13][14][16][17]. Treasury Bond Futures - On November 3, the ten - year and thirty - year treasury bond futures main contracts showed different trends. It is expected that on November 4, both will strongly fluctuate [34][37]. Precious Metal Futures - On November 3, the gold and silver futures main contracts showed small - scale rebounds. It is expected that in November 2025, they will have wide - range fluctuations, and on November 4, they will weakly fluctuate [38][44]. Base Metal Futures - On November 3, copper, aluminum, zinc, and other base metal futures main contracts showed different trends. It is expected that in November 2025, copper, aluminum, and zinc will strongly fluctuate with wide ranges, and on November 4, copper will weakly fluctuate, and aluminum will have wide - range fluctuations, while zinc will strongly fluctuate [47][52][61]. Other Commodity Futures - On November 3, various commodity futures such as lithium carbonate, iron ore, and crude oil showed different trends. It is expected that in November 2025, lithium carbonate, iron ore, and other futures will strongly fluctuate with wide ranges, while glass, soda ash, and crude oil will weakly fluctuate with wide ranges. On November 4, lithium carbonate will strongly fluctuate, and glass, soda ash, and crude oil will weakly fluctuate [69][80][98].