股指期货将偏强震荡，白银、铂、PTA、PX 期货将震荡偏强，白银、铂、钯期货将创下上市以来新高，锡、多晶硅、碳酸锂期货将偏强宽幅震荡

Report Industry Investment Rating There is no information about the industry investment rating in the provided content. Core Viewpoints of the Report - Through macro - fundamental analysis and technical analysis, the report predicts the trend of futures contracts on December 22, 2025, and the overall trend in December 2025. Index futures will be in a strong - biased and wide - range shock; silver, platinum, and palladium futures are expected to reach new highs since listing; some futures such as alumina are likely to reach new lows since listing [1][2]. Summary According to the Directory 1. Futures Market Outlook Points - On December 22, 2025, index futures, government bond futures, gold futures, etc. are expected to be in a strong - biased shock; silver, platinum, and palladium futures will be in a strong - biased shock and reach new highs since listing; zinc and nickel futures will be in a shock consolidation; tin, polycrystalline silicon, and lithium carbonate futures will be in a strong - biased wide - range shock; some futures such as rebar and hot - rolled coils will be in a weak - biased shock [2][4]. - In December 2025, index futures are expected to be in a wide - range shock; silver, copper, polycrystalline silicon futures are expected to be in a strong - biased shock and reach new highs since listing; alumina futures are expected to be in a weak - biased shock and reach new lows since listing [5]. 2. Macro News and Trading Tips - The State Council executive meeting arranged the implementation of the decisions and deployments of the Central Economic Work Conference, and the General Administration of Market Regulation revised the "Regulations on Prohibiting Monopoly Agreements" [6]. - The Ministry of Commerce announced that from January to November, the actual use of foreign capital in the country decreased by 7.5% year - on - year, but increased by 26.1% in November [6]. - The central bank issued the "Measures for the Identification of Beneficial Owners of Financial Institutions" [7]. 3. Commodity Futures - related Information - On December 19, international precious metal futures generally closed higher, and COMEX silver futures reached a new high [12]. - On December 19, the main contracts of U.S. oil and Brent crude oil rose, but fell for the week. The market expects a shortage of crude oil supply in the second half of 2027, which drives up the price of Brent crude oil [12]. - On December 19, London base metals rose across the board. The lower - than - expected U.S. inflation data boosted market expectations of interest rate cuts, and the limited upside of the U.S. dollar index supported base metals [13]. 4. Futures Market Analysis and Outlook Index Futures - On December 19, index futures such as IF2603, IH2603, IC2603, and IM2603 showed different trends of shock and upward movement [16][17]. - In December 2025, the main contracts of index futures are expected to be in a wide - range shock. On December 22, they are expected to be in a strong - biased shock [21]. Government Bond Futures - On December 19, the main contracts of 10 - year and 30 - year government bond futures rose. On December 22, they are expected to be in a strong - biased shock [37][39]. Precious Metal Futures - On December 19, the main contract of gold futures AU2602 showed a weak - biased shock. In December 2025, the main continuous contract is expected to be in a strong - biased wide - range shock. On December 22, AU2602 is expected to be in a strong - biased shock [42]. - On December 19, the main contract of silver futures AG2602 showed a shock and downward movement during the day and a strong - biased shock and upward movement at night. In December 2025, the main continuous contract is expected to be in a strong - biased shock and reach a new high since listing. On December 22, AG2602 is expected to be in a strong - biased shock and reach a new high since listing [49][50]. - On December 19, the main contract of platinum futures PT2606 showed a shock and downward movement. On December 22, it is expected to be in a strong - biased shock and reach a new high since listing [54]. - On December 19, the main contract of palladium futures PD2606 showed a strong - biased shock and upward movement. On December 22, it is expected to be in a strong - biased shock and reach a new high since listing [56]. Base Metal Futures - On December 19, the main contract of copper futures CU2602 showed a shock and upward movement. In December 2025, the main continuous contract is expected to be in a strong - biased shock and reach a new high since listing. On December 22, CU2602 is expected to be in a strong - biased shock [60]. - On December 19, the main contract of aluminum futures AL2602 showed a shock and upward movement. In December 2025, the main continuous contract is expected to be in a strong - biased shock. On December 22, AL2602 is expected to be in a strong - biased shock [65][66]. - On December 19, the main contract of alumina futures AO2601 showed a weak - biased shock and downward movement. In December 2025, the main continuous contract is expected to be in a weak - biased shock and reach a new low since listing. On December 22, AO2601 is expected to be in a strong - biased shock [71]. - On December 19, the main contract of zinc futures ZN2602 showed a slight shock and upward movement. In December 2025, the main continuous contract is expected to be in a strong - biased wide - range shock. On December 22, ZN2602 is expected to be in a shock consolidation [76]. - On December 19, the main contract of nickel futures NI2602 showed a strong - biased shock and upward movement. In December 2025, the main continuous contract is expected to be in a wide - range shock. On December 22, NI2602 is expected to be in a shock consolidation [79][80]. - On December 19, the main contract of tin futures SN2602 showed a strong - biased shock and upward movement. In December 2025, the main continuous contract is expected to be in a strong - biased shock. On December 22, SN2602 is expected to be in a strong - biased wide - range shock [86]. Other Futures - On December 19, the main contract of polycrystalline silicon futures PS2605 showed a shock and upward movement. In December 2025, the main continuous contract is expected to be in a strong - biased shock and reach a new high since listing. On December 22, PS2605 is expected to be in a strong - biased wide - range shock [90]. - On December 19, the main contract of lithium carbonate futures LC2605 showed a large - scale shock and upward movement. In December 2025, the main continuous contract is expected to be in a strong - biased shock. On December 22, LC2605 is expected to be in a strong - biased wide - range shock [96]. - On December 19, the main contract of rebar futures RB2605 showed a slight shock and downward movement. In December 2025, RB2605 is expected to be in a wide - range shock. On December 22, it is expected to be in a weak - biased shock [98]. - On December 19, the main contract of hot - rolled coil futures HC2605 showed a slight shock and downward movement. On December 22, it is expected to be in a weak - biased shock [103]. - On December 19, the main contract of iron ore futures I2605 showed a slight shock and upward movement. In December 2025, I2605 is expected to be in a wide - range shock. On December 22, it is expected to be in a wide - range shock [105]. - On December 19, the main contract of coking coal futures JM2605 showed a shock and downward movement. In December 2025, JM2605 is expected to be in a weak - biased wide - range shock. On December 22, it is expected to be in a weak - biased wide - range shock [110][111]. - On December 19, the main contract of glass futures FG605 showed a weak - biased shock and downward movement. In December 2025, FG605 is expected to be in a weak - biased shock. On December 22, it is expected to be in a weak - biased shock [114]. - On December 19, the main contract of soda ash futures SA605 showed a shock and downward movement. In December 2025, SA605 is expected to be in a weak - biased shock. On December 22, it is expected to be in a weak - biased shock [118]. - On December 19, the main contract of crude oil futures SC2602 showed a shock and downward movement. In December 2025, the main continuous contract is expected to be in a weak - biased shock. On December 22, SC2602 is expected to be in a strong - biased shock [122]. - On December 19, the main contract of fuel oil futures FU2603 showed a weak - biased shock and downward movement. On December 22, it is expected to be in a strong - biased shock [126][127]. - On December 19, the main contract of PTA futures TA605 showed a strong - biased shock and upward movement. On December 22, it is expected to be in a strong - biased shock [127]. - On December 19, the main contract of PX futures PX603 showed a strong - biased shock and upward movement. On December 22, it is expected to be in a strong - biased shock [130]. - On December 19, the main contract of PVC futures V2605 showed a shock and downward movement. On December 22, it is expected to be in a weak - biased shock [132]. - On December 19, the main contract of methanol futures MA605 showed a shock and downward movement. On December 22, it is expected to be in a strong - biased shock [135]. - On December 19, the main contract of soybean meal futures M2605 showed a slight shock and downward movement. On December 22, it is expected to be in a wide - range shock [136]. - On December 19, the main contract of palm oil futures P2605 showed a shock and downward movement. On December 22, it is expected to be in a weak - biased shock [138]. - On December 19, the main contract of natural rubber futures RU2605 showed a shock and downward movement. On December 22, it is expected to be in a weak - biased shock [142].