国内商品期市收盘涨跌参半，贵?属涨幅居前

1. Report Industry Investment Rating No information about the industry investment rating is provided in the report. 2. Core Views of the Report - Domestic commodity futures market closed with mixed results, with precious metals leading the gains and chemicals leading the losses. Platinum rose 10.58%, while styrene fell 2.87% [1]. - The US economy shows a weak - stable total and a differentiated structure. The US manufacturing PMI in January was favorable, but the non - manufacturing sector weakened and employment data was below expectations [1]. - In China, the impact of incremental policies in Q4 2025 on the fundamentals has not been significant, but policy expectations are increasing. The manufacturing PMI in January declined, but the expectation of policy support in Q1 is strengthening [1]. - Domestic equity markets are supported by policy expectations and additional liquidity. Treasury bonds are neutral, with better short - term opportunities. Gold in precious metals is a long - term standard allocation, while silver is on hold. Non - ferrous metals are still promising, and investors can buy on dips. Black commodities are volatile, and crude oil may rise but with high uncertainty [2]. 3. Summary by Relevant Catalogs 3.1 Market Performance - Domestic Commodity Futures: Precious metals led the gains (platinum +10.58%), basic metals all rose (Shanghai tin +6.61%), non - metallic building materials all rose (glass +0.56%), chemicals led the losses (styrene - 2.87%), most agricultural products fell (log - 1.90%), black series all fell (ferrosilicon - 1.44%), energy products all fell (low - sulfur fuel oil - 1.22%), most new energy materials fell (industrial silicon - 0.82%), shipping futures all fell (container shipping index (European line) - 0.39%), and most oilseeds fell (soybean meal - 0.33%) [1]. - Financial Market: On February 9, 2026, stock index futures generally rose, with CSI 1000 futures up 1.98%. Treasury bond futures also had small increases, and the US dollar index fell 0.36% [9]. - Industry Index: Most industries in the CITIC industry index rose on February 9, 2026. The communication industry led the gains with a daily increase of 5.07%, followed by the media industry with a 3.47% increase [10][11]. - Overseas Commodities: As of February 6, 2026, NYMEX WTI crude oil rose 0.33%, ICE Brent oil rose 0.81%, COMEX gold rose 2.03%, and LME copper rose 1.22% [12][13]. - Domestic Main Commodities: On February 9, 2026, gold rose 3.3%, silver rose 11.65%, and tin rose 7.67%. Some commodities such as styrene fell 2.24% [14][15]. 3.2 Asset Views - Equity Market: Policy expectations and additional liquidity provide upward support [2]. - Treasury Bonds: Neutral overall, with better short - term opportunities but limited odds [2]. - Precious Metals: Gold is a long - term standard allocation, and silver is on hold [2]. - Non - ferrous Metals: Promising, and investors can buy on dips after the market squeezes out the crowded trading bubble [2]. - Black Commodities: Volatile [2]. - Crude Oil: May rise due to geopolitical support, but with high uncertainty, so it is recommended to stay on the sidelines [2]. 3.3 Short - term Market Judgments - Financial: Stock index futures are expected to be oscillating and slightly stronger, stock index options are oscillating, and treasury bond futures are oscillating [6]. - Precious Metals: Gold and silver are both oscillating [6]. - Shipping: The container shipping European line is expected to be oscillating and slightly stronger [6]. - Black Building Materials: Most products such as steel, iron ore, and coke are oscillating [6]. - Non - ferrous and New Materials: Most non - ferrous metals are oscillating, with some showing a slightly stronger trend [6]. - Energy and Chemicals: Most products are oscillating [7]. - Agriculture: Most products are oscillating, with some showing a slightly weaker trend [7].