广发期货日评-20251225

Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report - For some varieties like tin (SN2602), plastic (L2605), and sugar (SR2605), they are short - term bullish; for others like silver (AG2602), it is fluctuating bullish [3]. - Stock index futures are expected to move in a range with structural differentiation among sectors. It is advisable to observe cautiously and consider a bull - spread strategy on deep single - day pullbacks [3]. - Treasury bond futures are in a volatile consolidation. For T2603, pay attention to the support around 107.6 - 107.8. Consider going long on T contracts on pullbacks and engage in cash - and - carry and basis - widening strategies for the 2603 contracts [3]. - Precious metals are affected by the strong US dollar. Gold and silver are recommended to hold long positions, reduce positions or lock in profits before the Spring Festival. Palladium may have a significant pullback [3]. - The container shipping index (European line) EC2602 is expected to be volatile in the short term. Steel products' prices are in a range - bound movement. Iron ore prices are supported by the expected restocking of steel mills [3]. - Energy and chemical products have different trends. For example, PX and PTA should be treated with caution after a sharp rise, while LLDPE can be short - term long on the 2605 contract [3]. - Agricultural products have various trends. For instance, soybeans and rapeseeds are in a narrow - range fluctuation, and sugar is in a short - term rebound [3]. Summary by Related Catalogs Daily Selected Views - Tin (SN2602) and plastic (L2605): Take profit on long positions, short - term bullish [3]. - Coking coal (JM2605): Take profit on long positions [3]. - Sugar (SR2605): Short - term bullish [3]. - Silver (AG2602): Fluctuating bullish [3]. Full - Variety Daily Review Financial Futures - Stock Index Futures: The index rebounds after the Bank of Japan's interest - rate hike. Small - and medium - cap indexes are strong with sectoral differentiation. The market is expected to move in a range. Consider a bull - spread strategy on deep single - day pullbacks [3]. - Treasury Bond Futures: 10 - year varieties are relatively stable. T2603 pays attention to the support around 107.6 - 107.8. Consider going long on T contracts on pullbacks and engage in cash - and - carry and basis - widening strategies for the 2603 contracts [3]. - Precious Metals: Affected by the strong US dollar, gold and silver are recommended to hold long positions, reduce positions or lock in profits before the Spring Festival. Palladium may have a significant pullback [3]. Commodity Futures - Container Shipping Index (European Line): EC2602 is expected to be volatile in the short term [3]. - Steel Products: Steel prices are in a range - bound movement. The 5 - month rebar and hot - rolled coil focus on the ranges of 3000 - 3200 yuan and 3200 - 3350 yuan respectively [3]. - Iron Ore: The decline in molten iron is limited, and the expected restocking of steel mills supports the price. Short - term range trading is recommended [3]. - Coking Coal and Coke: Both are viewed as volatile. Take profit on long positions and pay attention to the specified price ranges [3]. - Ferrosilicon and Manganese Silicon: Ferrosilicon is in a bottom - range fluctuation, while manganese silicon can be shorted on rebounds above the Ningxia spot cost [3]. - Non - ferrous Metals: Different non - ferrous metals have different trends. For example, copper is recommended to wait and see, and zinc's cross - market reverse arbitrage can be held [3]. - Energy Products: Polysilicon is in a high - level fluctuation, and lithium carbonate is expected to be in a wide - range fluctuation after a pullback. PX and PTA should be treated with caution after a sharp rise [3]. - Chemical Products: Different chemical products have different trading strategies. For example, LLDPE can be short - term long on the 2605 contract, and PP focuses on the expansion of PDH profits [3]. - Agricultural Products: Different agricultural products have different trends. For example, soybeans and rapeseeds are in a narrow - range fluctuation, and sugar is in a short - term rebound [3].