冠通期货资讯早间报-20251125

Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Core Viewpoints The report presents a comprehensive overview of the overnight market trends, significant news, and financial market developments across various sectors, including commodities, futures, stocks, and bonds. It also covers macroeconomic news, industry - specific updates, and geopolitical events that may impact the financial markets. 3. Summary by Relevant Catalogs Overnight Night - Market Trends - International precious metal futures generally rose, with COMEX gold futures up 1.33% at $4133.8 per ounce and COMEX silver futures up 2.49% at $51.155 per ounce [4]. - U.S. oil and Brent crude futures increased, with U.S. oil up 1.43% at $58.89 per barrel and Brent up 1.28% at $62.73 per barrel [5]. - London base metals all climbed, such as LME nickel up 1.90% at $14730 per ton and LME tin up 1.44% at $37425 per ton [5]. - Most domestic futures contracts rose, with glass, ethylene glycol, etc. up over 1%, while rubber and low - sulfur fuel oil declined slightly [6]. Important News Macro News - On November 24, President Xi Jinping had a phone call with U.S. President Trump, emphasizing the need to expand cooperation between China and the U.S. [9]. - As of November 24, the Shanghai Export Container Settlement Freight Index (European route) rose 20.7% to 1639.37 points [10]. - By the end of October, China's total installed power generation capacity reached 3.75 billion kilowatts, a 17.3% year - on - year increase [11]. - On November 25, the People's Bank of China will conduct 1 trillion yuan of MLF operations [12]. - Fed Governor Waller advocated a December rate cut due to a weak labor market [14]. Energy and Chemical Futures - As of November 24, domestic soda ash manufacturers' total inventory decreased by 1.75% to 1.6157 million tons [17]. - Jiangsu styrene port inventory rose 10.72% to 164,200 tons [17]. - East China's ethylene glycol inventory increased by 35,500 tons to 668,500 tons [18]. - Domestic gasoline and diesel prices were cut by 70 yuan and 65 yuan per ton respectively on November 24 [20]. Metal Futures - In 2025, China's electrolytic aluminum production is expected to grow 1.7% year - on - year, and overseas operating capacity has increased by about 500,000 tons [22]. - Indonesia's Freeport plans to produce less cathode copper and gold in 2026 due to a mudslide [22]. Black - Series Futures - Due to snow in Ganqimao Port, the number of customs - cleared vehicles on November 24 is expected to be less than 1000 [24]. - From November 17 - 23, global iron ore shipments decreased by 2.38 million tons [24]. - In mid - November, the social inventory of five major steel products decreased by 2.5% [27]. Agricultural Product Futures - From November 24, the margin standards for nitrogen, phosphorus, and compound fertilizer auctions were adjusted [29]. - Last week, the soybean crushing volume of major domestic oil mills exceeded 2.3 million tons [29]. - As of November 21, palm oil and soybean oil commercial inventories increased [29]. Financial Markets Financial - A - shares fluctuated up, with the Shanghai Composite Index up 0.05% at 3836.77 points, and the market turnover was 1.74 trillion yuan [36]. - The Hong Kong Hang Seng Index rose 1.97% to 25716.5 points [36]. - As of November 24, 800 listed companies received significant shareholder increases, totaling 115.821 billion yuan, a 44.69% year - on - year increase [36]. - High - end strategists predict that China's stock market will continue its bull market, with a potential 30% increase by 2027 [37]. Industry - As of November 24, 12 Sino - Japanese flight routes canceled all flights [41]. - The Ministry of Industry and Information Technology launched the creation of national emerging industry development demonstration bases [41]. - By the end of October, China's solar power and wind power installed capacities increased significantly [43]. Overseas - The U.S. and Ukraine reached a 19 - point peace agreement draft, but key issues remain to be decided [44]. - The U.S. canceled the release of Q3 GDP pre - estimates, and PCE data will be released on December 5 [44]. - Fed officials advocated a December rate cut due to a weak labor market [44]. International Stocks - U.S. stocks rose, with the Dow up 0.44%, the S&P 500 up 1.55%, and the Nasdaq up 2.69% [47]. - European stocks had mixed results, with the German DAX up 0.71% and the French CAC40 down 0.29% [47]. Commodities - Precious metals, crude oil, and base metals all rose, driven by factors such as Fed signals and geopolitical events [50]. - Bank of America predicts that gold prices may reach $5000 per ounce in 2026 [51]. Bonds - The domestic bond market had narrow fluctuations, and the central bank conducted reverse - repurchase operations [52]. - The central bank issued 45 billion yuan of RMB central bank bills in Hong Kong [53]. - U.S. bond yields fell across the board [55]. Foreign Exchange - The on - shore RMB against the U.S. dollar rose, and the dollar index rose slightly [56].