广发期货日评-20251217

Group 1: Report Industry Investment Ratings - No industry investment ratings are provided in the report [3] Group 2: Core Views of the Report - The Fed decided to cut interest rates by 25bp, with an unexpectedly dovish stance, improving short - term global liquidity expectations, but the market is still affected by the Bank of Japan's interest rate hike expectations and is in a state of shock and correction [3] - Market sentiment has improved, and interest rates have declined slightly. The performance of Treasury bond futures is differentiated, with large expected fluctuations [3] - The US non - farm payroll data is relatively weak. Precious metals rebounded after a decline during the session, with platinum and palladium showing a strong trend [3] - The iron ore inventory at ports has increased as iron - making output has decreased, and iron ore has rebounded in shock [3] - The second round of coke price cuts in December has been implemented, and the port trade price has led the decline [3] Group 3: Summaries by Relevant Catalogs Daily Selected Views - Carbonate lithium (LC2605) is expected to fluctuate strongly; Styrene (EB2602) is expected to fluctuate weakly; Coking coal (JM2605) is expected to rebound from the bottom; Palm oil (P2605) is expected to fluctuate weakly [3] All - Variety Daily Reviews and Operation Suggestions Stock Index Futures - Affected by concerns about Asia - Pacific market liquidity, stock index futures have corrected across the board. With the current market trend unclear, it is recommended to be cautious and wait and see [3] Treasury Bond Futures - The market sentiment has warmed up, and interest rates have declined slightly. The performance of Treasury bond futures is differentiated. It is recommended to wait and see in the short term and look for positive arbitrage and basis widening opportunities in the 2603 contract [3] Precious Metals - Due to the relatively weak US non - farm payroll data, precious metals rebounded after a decline during the session. It is recommended to buy after a correction for gold; be cautious about silver entering the overbought zone; and maintain a low - buying strategy for platinum and palladium [3] Shipping Index (European Line) - The EC2602 contract of the container shipping index (European Line) is expected to fluctuate in the short term [3] Steel and Iron Ore - With iron - making output at a low level, it is recommended to go long on the January rebar - to - iron - ore ratio. Iron ore is expected to fluctuate upwards, with a reference range of 730 - 800 [3] Coking Coal and Coke - Coking coal is expected to rebound from an oversold position, with a reference range of 1000 - 1150, and it is recommended to do a 1 - 5 reverse spread. Coke is expected to rebound in shock, with a reference range of 1450 - 1600, and it is also recommended to do a 1 - 5 reverse spread [3] Non - Ferrous Metals - Copper prices are oscillating at a high level. It is recommended to wait and see in the short term and pay attention to the support at 90000 - 91000. Aluminum prices are oscillating, and it is recommended to go long at low prices. For other non - ferrous metals, different trading strategies are provided according to their fundamentals [3] New Energy - Carbonate lithium is expected to be strongly oscillating, and it is recommended to wait and see. Polysilicon is oscillating at a high level, with a reference range of 50000 - 60000 [3] Chemicals - Different chemical products such as PX, PTA, short - fiber, etc. have different supply - demand situations and price trends. Different trading strategies are recommended for each product, such as short - term high - level oscillation, reverse spread, etc. [3] Agricultural Products - Soybean meal and rapeseed meal are expected to fluctuate narrowly. Hog futures are in a bottom - grinding market. Corn is expected to adjust in shock. Oils are expected to be bearish in the short term. Sugar is expected to decline in shock. Other agricultural products also have corresponding price trends and trading suggestions [3]