广发期货日评-20251121

Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Core Viewpoints - Domestic stock index futures show resilience with volatility decreasing. After Q3 reports, A - shares are in repricing adjustment. Short - term fluctuations are common, and it's recommended to wait and see. Consider a bull spread of put options in case of a deep daily decline [2]. - Treasury bond futures had a differentiated performance yesterday. With limited driving forces, the bond market may continue to fluctuate narrowly. A range - trading strategy is recommended [2]. - Gold prices are oscillating between $4000 - $4200 due to mixed US non - farm data and cautious Fed officials. A double - selling strategy for out - of - the - money gold options can be considered. Silver follows gold's fluctuations, and short - term observation or light - position trading is advised [2]. - The EC (European line) container shipping index futures are in short - term decline. It's recommended to close short positions [2]. - Steel prices are expected to stabilize with improved apparent demand. Iron ore is oscillating, and a wait - and - see approach is recommended. For coking coal and coke, a bearish view is taken with specified price ranges [2]. - Copper prices are oscillating weakly as the probability of interest rate cuts decreases. For various non - ferrous metals, different trading strategies are recommended according to their price trends [2]. - In the new energy and chemical sectors, prices of many products such as polysilicon and PTA are oscillating. Different trading strategies are proposed based on their supply - demand situations [2]. - In the agricultural products sector, prices of products like soybean meal, palm oil, and sugar are showing different trends, and corresponding trading strategies are recommended [2]. 3. Summary by Related Catalogs Financial - Stock Index Futures: Domestic stock index futures are in a state of repricing adjustment. Short - term fluctuations are normal, and it's recommended to wait and see. A bull spread of put options can be considered in case of a deep daily decline [2]. - Treasury Bond Futures: The bond market may continue to fluctuate narrowly. A range - trading strategy is recommended [2]. - Precious Metals: Gold is in the $4000 - $4200 range, and a double - selling strategy for out - of - the - money options can be used. Silver follows gold, and short - term observation or light - position trading is advised [2]. Black - Steel: Steel prices are expected to stabilize with improved apparent demand [2]. - Iron Ore: Iron ore is oscillating. A wait - and - see approach is recommended with a reference range of 750 - 810 [2]. - Coking Coal: A bearish view is taken with a price range of 1050 - 1200 [2]. - Coke: A bearish view is taken with a price range of 1550 - 1700 [2]. Non - Ferrous Metals - Copper: Copper prices are oscillating weakly. The main reference range is 85000 - 86500 [2]. - Other Non - Ferrous Metals: Different trading strategies are recommended for various non - ferrous metals according to their price trends [2]. Energy and Chemical - New Energy and Chemical Products: Prices of products like polysilicon, PTA, and short - fiber are oscillating, and corresponding trading strategies are proposed based on supply - demand [2]. - Other Chemical Products: For products like LLDPE, PP, and PVC, different trading strategies are recommended according to their price trends and supply - demand situations [2]. Agricultural Products - Soybean Meal: Domestic soybean meal supply is abundant, and attention should be paid to the support around 3000 [2]. - Palm Oil: Palm oil prices are continuing to decline, and the main contract may reach 8900 in the short term [2]. - Other Agricultural Products: Different trading strategies are recommended for products like sugar, cotton, and eggs according to their price trends [2].