冠通期货资讯早间报-20251205

1. Report Industry Investment Rating No information provided regarding the industry investment rating. 2. Core Viewpoints of the Report The report comprehensively covers overnight market trends of various futures, significant macro - economic news, and updates on financial markets including stocks, bonds, foreign exchange, and commodities. It also details upcoming events and their potential impacts on relevant industries [3][7][30]. 3. Summaries Based on Different Categories Overnight Night - Market Futures Trends - Energy and Chemical Futures: WTI crude oil rose 1.27% to $59.7/barrel, Brent crude oil rose 1.04% to $63.32/barrel. Singapore fuel oil inventory increased, while light distillate inventory decreased [4][13]. - Precious Metals Futures: COMEX gold rose 0.13% to $4237.9/ounce, COMEX silver fell 1.86% to $57.53/ounce [5]. - Base Metals Futures: LME lead, zinc, and nickel rose, while aluminum, copper, and tin fell [5]. - Domestic Futures: At 23:00, domestic futures had more decliners than gainers. Coke and corn rose over 1%, while caustic soda and ethylene glycol fell over 1% [6]. Important Macroeconomic News - Shipping: There's no specific schedule for the shipping industry to resume Suez Canal voyages, with a 60 - 90 - day transition period expected [8]. - Central Bank Operations: On December 5, 2025, the People's Bank of China conducted 1 trillion yuan of outright reverse repurchase operations for 3 months [8]. - Tax Policy: Since December 9, 2025, Kuwaiti - flagged taxable ships will enjoy preferential ship tonnage tax rates [8]. - New Energy Vehicles: From January to October 2025, global new - energy passenger vehicle sales reached 17.36 million, up 30% year - on - year. In October, sales were 2.11 million, up 17% year - on - year but down 3% month - on - month [9]. - US Labor Market: US initial jobless claims dropped to 191,000 in the week ending November 29, the lowest since September 2022 [9]. - Fed Interest Rate Expectations: 82% of economists surveyed by Reuters expect the Fed to cut interest rates by 25 basis points in December [9]. Energy and Chemical Futures - Float Glass: As of December 4, 2025, the total inventory of national float glass sample enterprises was 59.442 million heavy boxes, down 4.68% month - on - month and up 23.25% year - on - year [12]. - Alumina: A group in Xinjiang and Yunnan conducted alumina spot procurement tenders with different winning prices [12]. - Soda Ash: As of December 4, domestic soda ash manufacturers' total inventory was 1.5386 million tons, down 3.07% from last Thursday [12]. - Singapore Fuel Inventory: As of the week ending December 3, Singapore's fuel oil inventory rose, light distillate inventory fell, and medium distillate inventory rose [13]. - Saudi Crude Oil Price: Saudi Aramco will set the official selling price of its flagship Arab Light crude oil to Asia in January at a premium of $0.6/barrel over the regional benchmark, the lowest since January 2021 [13]. - Methanol Inventory: As of December 4, East China port methanol inventory was 721,400 tons, down 24,100 tons from November 27 [14]. Metal Futures - Silver: Only about 28% of global silver minerals come from "primary silver mines". BNP Paribas predicts silver prices may reach $100/ounce by the end of next year [17]. - Polysilicon: In November 2025, domestic polysilicon production was 114,600 tons, down 14.48% from October. December's planned production is expected to decline further [17]. - Gold: The World Gold Council believes that in 2026, geopolitical uncertainty will affect the gold market, and gold prices may fluctuate within a range [17]. - Lithium Salt: Salt Lake Co., Ltd.'s 40,000 - ton lithium salt project is operating smoothly, with a daily output of 60 - 70 tons and a purity of over 99.7% [17]. - Copper Supply: Bridge Copper secures a monthly supply of 50,000 tons of copper concentrate and Grade A cathode copper [18]. Black - Series Futures - Rebar: As of the week ending December 4, rebar production and apparent demand decreased for the second consecutive week, while factory and social inventories decreased for the eighth consecutive week [21]. - Rebar Delivery Rules: The Shanghai Futures Exchange issued regulations on rebar futures delivery [21]. - Steel Inventory: In late November, the social inventory of five major steel products in 21 cities decreased by 4.4% month - on - month [21]. Agricultural Product Futures - Imported Cotton: As of December 4, the inventory of imported cotton at major ports was 387,600 tons, up 1.92% week - on - week [23]. - Brazilian Sugar: As of the week ending December 3, the number of ships waiting to load sugar in Brazilian ports decreased, and the quantity of sugar waiting to be shipped decreased by 11.67% [23]. - Guangxi Sugar Mills: As of now, 44 sugar mills in Guangxi have started the 2025/2026 crushing season, 22 fewer than the same period last year [23]. - Pig and Corn Prices: As of November 26, the national live - hog ex - factory price was 12.09 yuan/kg, down 1.23% from November 19. The pig - to - corn price ratio was 5.3, down 1.3% [25]. - Indian Sugar Exports: Since November 14, over 100,000 tons of Indian sugar export contracts have been signed for immediate delivery [25]. - Brazilian Agricultural Product Exports: Brazil's soybean, soybean meal, and corn export volumes in December are expected to be 2.81 million tons, 1.33 million tons, and 4.99 million tons respectively [25]. - Canadian Agriculture: In 2025, Canada's wheat and rapeseed production is expected to increase by 11.2% and 13.3% respectively [26]. - US Soybean Exports: In the 2025/2026 season, US soybean export net sales were 1.248 million tons, and net sales to China were 232,000 tons [26]. - Indian Soybean Oil: Indian refiners cancelled 70,000 tons of soybean oil import contracts [27]. - Brazilian Soybean Exports: In November, Brazil's soybean exports increased by 64% year - on - year to 4.2 million tons [28]. Financial Markets - A - Shares: The Shanghai Composite Index fell 0.06%, the Shenzhen Component Index rose 0.4%, and the ChiNext Index rose 1.01%. The market turnover was 1.56 trillion yuan [31]. - Hong Kong Stocks: The Hang Seng Index rose 0.68%, the Hang Seng Tech Index rose 1.45%, and the Hang Seng China Enterprises Index rose 0.86%. Southbound capital net - bought HK$1.48 billion, and Tencent was net - sold HK$1.346 billion [31]. - Shenzhen - Hong Kong Stock Connect: As of December 4, the total trading volume of Shenzhen - Hong Kong Stock Connect was 131 trillion yuan [31]. - Corporate News: Cambrian refuted rumors about production capacity, and Moore Threads listed on the Science and Technology Innovation Board, raising 8 billion yuan [31][32]. - Insider Trading: A former director of Hong Kong Central Securities Registration was found guilty of insider trading [32]. - New Stocks: Two Hong Kong - listed new stocks broke below their issue prices in the grey market [34]. Industry News - Infrastructure: The Future Network Test Facility in the information and communication field was officially put into operation [35]. - Food Delivery: The market regulator issued a recommended national standard for food - delivery platforms [35]. - Real Estate: In November, the transaction volume of second - hand residential properties in first - tier cities reached a 7 - month high. In December, new - house supply is expected to decline, but sales may recover [35]. - Electric Bicycles: The Ministry of Industry and Information Technology guided enterprises to optimize electric - bicycle designs [36]. - Basketball Reform: The General Administration of Sport issued an opinion on basketball reform, encouraging foreign investment [36]. Overseas News - US - China Trade: The US - China Business Council believes that tariff reduction shows the US acknowledges the negative impact of tariffs on domestic prices [38]. - US Trade Agreement: Trump may withdraw from the US - Mexico - Canada Agreement next year [38]. - US Economy: US real - wage growth is higher than inflation, and there are expectations of a 25 - basis - point interest - rate cut [39]. - US Labor Market: US initial jobless claims decreased, but non - farm employment decreased in November, and Challenger job cuts increased [39]. - Japan Interest Rate: The Bank of Japan is likely to raise the policy rate from 0.5% to 0.75% in December [39]. - EU Gene Editing: The EU reached an agreement on gene - editing technology in agriculture [40]. International Stock Markets - US Stocks: The Dow Jones Industrial Average fell 0.07%, the S&P 500 rose 0.11%, and the Nasdaq rose 0.22%. The US SEC postponed the short - selling disclosure deadline [42]. - European Stocks: European major stock indexes rose, driven by positive ADP employment data in the US [42]. - EU Financial Plan: The EU launched a plan to break financial barriers and create a unified capital market [43]. Commodities - Crude Oil: WTI and Brent crude oil prices rose due to geopolitical tensions [44]. - Precious Metals: COMEX gold rose and COMEX silver fell, influenced by interest - rate expectations and market demand [45]. - Base Metals: LME base metals had mixed performance, and a large - scale copper withdrawal plan affected copper prices [46]. - Gold Outlook: The World Gold Council believes gold prices may fluctuate in 2026 but could rise 15% - 3000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000