广发期货日评-20260304

1. Report Industry Investment Ratings No specific industry investment ratings are provided in the report. 2. Core Views - After the holiday, A - shares had a positive start, driven by the rise of overseas equity assets during the long - holiday and the strengthening of the RMB exchange rate, but geopolitical risks may cause market fluctuations [3] - Gold is likely to rise above the 20 - day moving average, while silver may rise due to geopolitical risks but faces resistance at $100. Platinum and palladium are supported by supply expectations [3] - Steel prices are weak due to export obstacles, and iron ore is affected by macro - factors and supply pressure. Coal prices show different trends, and non - ferrous metals are affected by factors such as supply - demand and geopolitics [3] - New energy products are affected by geopolitical conflicts, with some showing strong trends and others facing downward pressure [3] - Energy and chemical products are influenced by geopolitical factors, supply - demand, and cost. Some products are recommended to hold long positions, while others suggest short - term operations or hedging [3] - Agricultural products are affected by various factors such as supply - demand, international events, and market sentiment. Different products have different trends and trading suggestions [3] 3. Summary by Related Catalogs 3.1 Daily Selected Views - Alumina (AO2605): Expected to be weakly volatile [3] - Methanol (MA2605): Expected to be strongly volatile [3] - Silicon Iron (SF605): Expected to be strongly volatile [3] - Corn (C2605): Expected to be strongly volatile [3] 3.2 Full - Variety Daily Reviews 3.2.1 Financial - Stock Index: After the holiday, A - shares opened higher, but due to approaching the Two Sessions and potential geopolitical risks, it is recommended to wait and see, and the bull - spread strategy can be closed for profit [3] - Precious Metals: Gold can hold long positions and sell out - of - the - money call options for protection. Silver may rise but faces resistance, and it is recommended to sell out - of - the - money call options. Platinum and palladium can sell out - of - the - money put options [3] 3.2.2 Metals - Ferrous Metals: Steel prices are weak, and it is recommended to try short - term long positions at certain price levels. Iron ore is in a range - bound state. Coal prices show different trends, and it is recommended to view them as volatile within certain intervals. Silicon and manganese alloys need to pay attention to supply and demand and export situations, and it is recommended to wait and see or use spread strategies [3] - Non - Ferrous Metals: Copper has a short - term supply - demand mismatch and inventory accumulation. Aluminum and its alloys are affected by macro - factors and supply - demand, and different trading suggestions are given. Other non - ferrous metals such as zinc, tin, and nickel also have corresponding trends and trading recommendations [3] 3.2.3 New Energy - New energy products such as polysilicon, lithium carbonate, and others are affected by geopolitical conflicts. Some products suggest long - position reduction or option protection [3] 3.2.4 Energy and Chemicals - Energy products such as crude oil need to pay attention to geopolitical situations, and it is recommended to hold long positions cautiously or wait and see. Chemical products are affected by factors such as supply - demand, cost, and geopolitics, and different trading suggestions are provided, including long - position reduction, spread trading, and option trading [3] 3.2.5 Agricultural Products - Agricultural products such as grains, oils, and livestock are affected by factors such as supply - demand, international events, and market sentiment. Different products have different trends and trading suggestions, such as range - bound operation, long - position reduction, and option trading [3]