Report Industry Investment Rating No relevant information provided. Core View of the Report Through macro - fundamental analysis and technical analysis using tools such as the golden section line, horizontal line, and daily moving average, the report predicts the market trends of various futures contracts on December 26, 2025, and the overall trends in December 2025. Some futures are expected to reach new highs since their listing [1][2]. Summary by Related Catalogs Futures Market Outlook - For December 23, 2025, the main contracts of stock index futures (IF2603, IH2603, IC2603, IM2603) are expected to have a strong - biased oscillation. Gold (AU2602), silver (AG2602), platinum (PT2606), copper (CU2602), and polysilicon (PS2605) are expected to reach new highs since their listing. Silver, platinum, palladium (PD2606), and polysilicon are expected to have a strong - biased oscillation, while gold, copper, nickel (NI2602), and soybean meal (M2605) are expected to have a strong - biased oscillation [2]. - For December 2025, the main continuous contracts of stock index futures are expected to have a strong - biased oscillation. Gold, silver, platinum, palladium, copper, and polysilicon are expected to reach new highs since their listing and have a strong - biased oscillation [5]. Macro News and Trading Tips - The Politburo of the CPC Central Committee studied and deployed the work of improving Party conduct, building a clean government, and combating corruption in 2026. The central bank continued to conduct MLF and outright reverse repurchase operations in December, releasing 300 billion yuan of medium - and long - term liquidity [6]. - The Ministry of Commerce opposed the US imposing 301 tariffs on Chinese semiconductor products. The public security departments of China, Myanmar, and Thailand carried out a new round of operations to crack down on gambling and fraud dens in Myanmar [6]. - The Ministry of Finance and eight other departments formulated and issued the guidelines for corporate climate information disclosure. On December 25, the offshore RMB against the US dollar rose above the "7" integer mark for the first time in 15 months [7]. Commodity Futures - Related Information - Most domestic commodity futures closed higher, with new energy materials leading the gains. The polysilicon futures rose 4.8%. Precious metal futures showed mixed trends, with platinum rising 4.51%, palladium falling 7.65%, silver rising 2.64%, and gold falling 0.39% [7]. - The Guangzhou Futures Exchange adjusted the minimum opening order quantity for platinum and palladium futures contracts and polysilicon futures contracts, and set a limit on the daily opening volume [8]. Futures Market Analysis and Outlook Stock Index Futures - On December 25, 2025, the main contracts of stock index futures (IF2603, IH2603, IC2603, IM2603) showed a small - scale upward trend. The A - share market continued to rise, with the Shanghai Composite Index recording seven consecutive positive days [9][10][11]. - It is expected that in December 2025, the main contracts of stock index futures (IF, IH, IC, IM) will have a strong - biased oscillation. On December 26, 2025, stock index futures are expected to have a strong - biased oscillation [11][12]. Gold Futures - On December 25, 2025, the main contract of gold futures (AU2602) fell. It is expected that in December 2025, the main continuous contract of gold futures will have a strong - biased wide - range oscillation and reach a new high since its listing. On December 26, 2025, the main contract of gold futures is expected to have a strong - biased oscillation and reach a new high since its listing [30]. Silver Futures - On December 25, 2025, the main contract of silver futures (AG2602) showed a mixed trend. It is expected that in December 2025, the main continuous contract of silver futures will have a strong - biased oscillation and reach a new high since its listing. On December 26, 2025, the main contract of silver futures is expected to have a strong - biased oscillation and reach a new high since its listing [33]. Platinum Futures - On December 25, 2025, the main contract of platinum futures (PT2606) rose. It is expected that in December 2025, the main continuous contract of platinum futures will have a strong - biased oscillation and reach a new high since its listing. On December 26, 2025, the main contract of platinum futures is expected to have a strong - biased oscillation and is likely to close at the daily limit [37]. Palladium Futures - On December 25, 2025, the main contract of palladium futures (PD2606) fell sharply. It is expected that in December 2025, the main continuous contract of palladium futures will have a strong - biased oscillation and reach a new high since its listing. On December 26, 2025, the main contract of palladium futures is expected to have a strong - biased oscillation [39]. Copper Futures - On December 25, 2025, the main contract of copper futures (CU2602) rose slightly. It is expected that in December 2025, the main continuous contract of copper futures will have a strong - biased oscillation and reach a new high since its listing. On December 26, 2025, the main contract of copper futures is expected to have a strong - biased oscillation and reach a new high since its listing [44]. Nickel Futures - On December 25, 2025, the main contract of nickel futures (NI2602) fell. It is expected that in December 2025, the main continuous contract of nickel futures will have a strong - biased oscillation. On December 26, 2025, the main contract of nickel futures is expected to have a strong - biased oscillation [50]. Tin Futures - On December 25, 2025, the main contract of tin futures (SN2602) fell. It is expected that in December 2025, the main continuous contract of tin futures will have a strong - biased oscillation. On December 26, 2025, the main contract of tin futures is expected to have a strong - biased oscillation [56]. Polysilicon Futures - On December 25, 2025, the main contract of polysilicon futures (PS2605) rose. It is expected that in December 2025, the main continuous contract of polysilicon futures will have a strong - biased oscillation and reach a new high since its listing. On December 26, 2025, the main contract of polysilicon futures is expected to have a strong - biased oscillation and reach a new high since its listing [60]. Lithium Carbonate Futures - On December 25, 2025, the main contract of lithium carbonate futures (LC2605) fell. It is expected that in December 2025, the main continuous contract of lithium carbonate futures will have a strong - biased oscillation. On December 26, 2025, the main contract of lithium carbonate futures is expected to have a wide - range oscillation [64]. Rebar Futures - On December 25, 2025, the main contract of rebar futures (RB2605) showed a small - scale downward trend. It is expected that in December 2025, the main contract of rebar futures will have a wide - range oscillation. On December 26, 2025, the main contract of rebar futures is expected to have a weak - biased oscillation [66]. Hot - Rolled Coil Futures - On December 25, 2025, the main contract of hot - rolled coil futures (HC2605) showed a small - scale downward trend. On December 26, 2025, the main contract of hot - rolled coil futures is expected to have a weak - biased oscillation [72]. Iron Ore Futures - On December 25, 2025, the main contract of iron ore futures (I2605) showed a small - scale downward trend. It is expected that in December 2025, the main contract of iron ore futures will have a wide - range oscillation. On December 26, 2025, the main contract of iron ore futures is expected to have a weak - biased oscillation [74]. Coking Coal Futures - On December 25, 2025, the main contract of coking coal futures (JM2605) showed a small - scale downward trend. It is expected that in December 2025, the main contract of coking coal futures will have a weak - wide - range oscillation. On December 26, 2025, the main contract of coking coal futures is expected to have a weak - biased oscillation [77][78]. PTA Futures - On December 25, 2025, the main contract of PTA futures (TA605) rose. On December 26, 2025, the main contract of PTA futures is expected to have a strong - biased oscillation [81]. PVC Futures - On December 25, 2025, the main contract of PVC futures (V2605) showed a small - scale downward trend. On December 26, 2025, the main contract of PVC futures is expected to have a weak - biased oscillation [83]. Soybean Meal Futures - On December 25, 2025, the main contract of soybean meal futures (M2605) rose. On December 26, 2025, the main contract of soybean meal futures is expected to have a strong - biased oscillation [85].
股指期货将偏强震荡，黄金、白银、铂、铜期货价格将创下上市以来新高，白银、铂、钯、多晶硅期货将震荡偏强，黄金、铜、镍、豆粕期货将偏强震荡
Guo Tai Jun An Qi Huo·2025-12-26 05:19