股指期货将偏强震荡，铜期货再创上市以来新高，铜、锡期货将震荡偏强，氧化铝期货再创上市以来新低

1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints - Through macro - fundamental and technical analysis, the report predicts the trend of today's futures main contracts. Index futures are likely to oscillate strongly; ten - year treasury bond futures are likely to oscillate widely; thirty - year treasury bond futures are likely to oscillate weakly and widely. Gold futures are likely to oscillate and consolidate; silver, platinum, copper, aluminum, tin, and polycrystalline silicon futures are likely to oscillate strongly; palladium and lithium carbonate futures are likely to oscillate widely; alumina, rebar, hot - rolled coil, iron ore, coking coal, glass, soda ash, PVC, and natural rubber futures are likely to oscillate weakly; crude oil and corn futures are likely to oscillate strongly [2][3][4] 3. Summary by Relevant Catalogs 3.1 Futures Market Outlook Points - Index futures are likely to oscillate strongly. The resistance and support levels for IF2512, IH2512, IC2512, and IM2512 are given respectively. Ten - year treasury bond futures main contract T2603 is likely to oscillate widely, with resistance at 108.10 and 108.20 yuan and support at 107.92 and 107.85 yuan. Thirty - year treasury bond futures main contract TL2603 is likely to oscillate weakly and widely, with support at 113.3 and 113.0 yuan and resistance at 114.0 and 114.2 yuan [2] - Gold futures main contract AU2602 is likely to oscillate and consolidate, with support at 951.4 and 945.5 yuan/g and resistance at 963.3 and 970.6 yuan/g. Silver futures main contract AG2602 is likely to oscillate strongly and attack the resistance at 13900 and 14000 yuan/kg. Platinum futures main contract PT2606 is likely to oscillate strongly and attack the resistance at 444.1 and 448.4 yuan/g. Palladium futures main contract PD2606 is likely to oscillate widely, with resistance at 385.7 and 388.1 yuan/g and support at 378.3 and 375.5 yuan/g. Copper futures main contract CU2601 is likely to oscillate strongly, attack the resistance at 91500 and 92000 yuan/ton, and set a new record high. Aluminum futures main contract AL2601 is likely to oscillate strongly and attack the resistance at 22050 and 22160 yuan/ton [3] - Alumina futures main contract AO2601 is likely to oscillate weakly, test the support at 2600 and 2580 yuan/ton, and set a new record low. Tin futures main contract SN2601 is likely to oscillate strongly and attack the resistance at 325000 and 330000 yuan/ton. Polycrystalline silicon futures main contract PS2601 is likely to oscillate strongly and widely. Lithium carbonate futures main contract LC2605 is likely to oscillate widely. Rebar futures main contract RB2605 is likely to oscillate weakly and test the support at 3146 and 3125 yuan/ton [4] - Hot - rolled coil futures main contract HC2605 is likely to oscillate weakly and test the support at 3298 and 3273 yuan/ton. Iron ore futures main contract I2601 is likely to oscillate weakly and test the support at 790 and 788 yuan/ton. Coking coal futures main contract JM2605 is likely to oscillate weakly and test the support at 1144 and 1125 yuan/ton. Glass futures main contract FG601 is likely to oscillate weakly and test the support at 999 and 985 yuan/ton. Soda ash futures main contract SA601 is likely to oscillate weakly and test the support at 1141 and 1130 yuan/ton. Crude oil futures main contract SC2601 is likely to oscillate strongly. PVC futures main contract V2601 is likely to oscillate weakly and test the support at 4493 and 4458 yuan/ton. Corn futures main contract C2601 is likely to oscillate strongly and attack the resistance at 2280 and 2291 yuan/ton. Natural rubber futures main contract RU2601 is likely to oscillate weakly and test the support at 14880 and 14650 yuan/ton [6][7] 3.2 Macro News and Trading Tips - The State Council Premier Li Qiang pointed out that new - type urbanization is an important carrier for expanding domestic demand, promoting industrial upgrading, and strengthening the domestic economic cycle. The US President Trump signed a law on US - Taiwan relations, and the Chinese Ministry of Foreign Affairs responded. The State Council approved the "Yangtze River Delta Territorial Space Plan (2023 - 2035)" [8] - From January to November this year, consumer goods replacement drove related commodity sales of over 2.5 trillion yuan, benefiting over 360 million people. From January to October, China's service trade import and export volume was 65844.3 billion yuan, a year - on - year increase of 7.5%; the service trade deficit was 7663.7 billion yuan, a year - on - year decrease of 2693.9 billion yuan. Local governments have launched a parenting subsidy of 3600 yuan per year for eligible families with infants under 3 years old, and over 30 million application information has been approved [8][9] - The US Treasury Secretary is optimistic about the legality of tariffs, while 9 Japanese companies have sued for a refund. The US November ADP employment data showed a decrease of 32000 jobs, and the probability of the Fed cutting interest rates by 25 basis points in December is nearly 90%. Bond investors are worried about Kevin Hassett's possible appointment as the Fed Chairman. The US government is promoting the development of the robot industry [9][10] - The US November ISM services PMI rose to 52.6. The EU will ban the import of Russian natural gas from the autumn of 2027, and Hungary and Slovakia will sue. Belgium rejected the plan to use frozen Russian assets to aid Ukraine. The EU plans to launch the "Industrial Acceleration Act". The eurozone November composite PMI was revised up to 52.8. The World Bank reported that the gap between debt repayment and new financing in developing countries reached a 50 - year high [10][11] 3.3 Commodity Futures - related Information - On Wednesday, December 3, international precious metal futures generally closed higher. COMEX gold futures rose 0.33% to 4234.8 US dollars/ounce, and COMEX silver futures rose 0.39% to 58.93 US dollars/ounce. US oil and Brent crude oil futures rose. London base metals mostly rose, with LME copper hitting a new high [11][12] - Glencore plans to increase copper production to about 1.6 million tons by 2035. The European Central Bank asked Italy to re - examine its gold reserve proposal. The on - shore and offshore RMB against the US dollar rose, and the US dollar index fell [12][13] 3.4 Futures Market Analysis and Outlook Index Futures - On December 3, index futures contracts IF2512, IH2512, IC2512, and IM2512 all showed a trend of rebounding, encountering resistance, and then falling slightly. The A - share market oscillated and declined, with most stocks falling and low trading volume. The Hong Kong stock market also fell, while the US stock market rose slightly, and the European stock market had mixed results [14][16][18] - It is expected that index futures will likely oscillate strongly on December 4, and will likely oscillate widely in December 2025, with corresponding resistance and support levels provided [19][20] Treasury Bond Futures - Ten - year treasury bond futures main contract T2603 on December 3 showed a slight increase, and it is expected to oscillate widely on December 4. Thirty - year treasury bond futures main contract TL2603 on December 3 fell, and it is expected to oscillate weakly and widely on December 4 [35][40] Precious Metal Futures - Gold futures main contract AU2602 on December 3 fell slightly and is expected to oscillate and consolidate on December 4. Silver futures main contract AG2602 on December 3 rose and is expected to oscillate strongly on December 4. Platinum futures main contract PT2606 on December 3 fell slightly and is expected to oscillate strongly on December 4. Palladium futures main contract PD2606 on December 3 rose and is expected to oscillate widely on December 4 [42][51][54] Base Metal Futures - Copper futures main contract CU2601 on December 3 rose slightly, is expected to oscillate strongly on December 4, and will set a new record high. Aluminum futures main contract AL2601 on December 3 rose slightly and is expected to oscillate strongly on December 4. Alumina futures main contract AO2601 on December 3 fell and is expected to oscillate weakly on December 4 and set a new record low. Tin futures main contract SN2601 on December 3 rose and is expected to oscillate strongly on December 4 [58][64][69] Other Commodity Futures - Polycrystalline silicon futures main contract PS2601 on December 3 rose and is expected to oscillate strongly and widely on December 4. Lithium carbonate futures main contract LC2605 on December 3 fell and is expected to oscillate widely on December 4. Rebar futures main contract RB2605 on December 3 was flat and is expected to oscillate weakly on December 4. Hot - rolled coil futures main contract HC2605 on December 3 rose slightly and is expected to oscillate weakly on December 4. Iron ore futures main contract I2601 on December 3 fell slightly and is expected to oscillate weakly on December 4. Coking coal futures main contract JM2605 on December 3 fell and is expected to oscillate weakly on December 4. Glass futures main contract FG601 on December 3 fell and is expected to oscillate weakly on December 4. Soda ash futures main contract SA601 on December 3 fell and is expected to oscillate weakly on December 4. Crude oil futures main contract SC2601 on December 3 fell and is expected to oscillate strongly on December 4. PVC futures main contract V2601 on December 3 fell and is expected to oscillate weakly on December 4. Corn futures main contract C2601 on December 3 rose and is expected to oscillate strongly on December 4. Natural rubber futures main contract RU2601 on December 3 fell and is expected to oscillate weakly on December 4 [79][83][86]