期货行情： | | | | 1月12日上海期货交易所休盘行情 (10:15) | | | | | --- | --- | --- | --- | --- | --- | --- | | 品种 | 最新价 | 涨跌 | 开盘价 | 最高价 | 島低价 | 昨結 | | 沪铜2602 | 103420 | 3140 | 101910 | 103970 | 101520 | 100280 | | 沪铝2603 | 24545 | ટે ટે ટ | 24560 | 24915 | 24370 | 24040 | | 種保箱2605 2856 | | 6 | 2850 | 2862 | 2811 | 2820 | | 铸造铝2603 23205 | | 390 | 22985 | 23450 | 22945 | 22815 | | 沪锌2602 | 24065 | 185 | 24070 | 24135 | 23895 | 23880 | | 沪铝2602 | 17430 | 115 | 17345 | 17480 | 17315 | 17315 | | 沪镇2602 | 142020 | ટર્ટ30 | 1400 ...

长江锡业网讯：今日沪锡期货全线大幅高开，主力月2602合约开盘报354990涨5990元，9：10分沪锡主 力2602合约报366860涨17860；沪期锡开盘高开后高位震荡；宏观面，此番锡价突破多年高点，是宏观 预期、地缘政治与产业需求变革三者强力共振的结果。宏观层面上，市场对主要央行（尤其是美联储） 年内转向宽松的预期，削弱了美元计价压力，为金属价格提供了流动性支撑。与此同时，地缘冲突导致 全球关键锡矿产区的供应陷入中断，直接切断了市场预期的供应增量，风险溢价被快速计入价格。更重 要的是，锡的需求结构正经历深刻变革：除传统消费电子在政策刺激下回暖外，其作为人工智能算力基 础设施（如先进封装）中不可或缺的关键材料，正迎来爆发性增长的新时代。因此，当前涨势并非单一 因素驱动，而是宏观流动性改善、突发地缘冲击与革命性产业需求爆发共同作用下的必然表现。 期货市场：国际油价反弹提振大宗商品价格，隔周伦锡收涨4.64%；最新收盘报45700，比前一交易日 上涨2025美元，涨幅为4.64%，成交量为588手，持仓量23214手； 伦敦金属交易所（LME）1月8日伦锡库存量5405吨，较前一交易日库存量持平。 在此背景 ...

深层次逻辑：从交易"弱预期"到聚焦"强现实" 市场的博弈焦点发生了关键性切换。前期价格回调，反映了市场对传统需求淡季的担忧。而今日的强势 反弹，则表明投资者的注意力重新回到了 "供应紧缺的强现实"上。在全球库存极度紧张的背景下，任 何供应端的负面消息都可能被快速定价。同时，在美元走弱和利率下行预期下，部分资金从其他资产类 别流向商品市场，寻求配置机会，锡因其鲜明的稀缺属性和科技成长标签而备受关注。 后市展望：高位震荡，在"强现实"与"弱消费"间博弈 在经历短暂回调后，据长江有色金属网获悉，长江现货锡价今日（12月17日）上演强劲反弹，长江现货 1#锡报价为324,500-326,500元/吨，均价325,500元/吨，较前一交易日上涨6750元/吨，日内涨幅约2%。 期货市场同步走强，沪锡主力合约高开高走，与国际伦锡的疲软走势形成鲜明对比。同时地缘局势方 面，刚果金局势虽有短暂缓和，但 M23 撤军仅为战术调整，冲突根源未除，锡矿供应链风险持续。此 次反弹并非技术性修正，而是宏观预期、供应危机与产业叙事三重动力共振的结果，标志着市场交易逻 辑的深刻转变。 宏观"东风"已至，美元退潮提供流动性支撑 本轮反弹最直 ...

□ 本报记者 范昕怡 11月中旬，步入位于昆山高新区的中科可控信息产业有限公司生产车间，一股淡淡的松香味扑面而 来。"这是锡膏在焊接时散发的气味。"讲解人员介绍。 一条高度自动化的板卡生产线在眼前铺展开：高速贴片机将一个个微小的电子元器件贴装到PCB板上， 随后板卡来到带有透明视窗的波峰焊炉完成焊接，最后，经飞针测试仪等设备严格"体检"后，一块块承 载算力的服务器主板诞生了。 眼前这个看似寻常的车间内，每90秒就有一台高端整机产品完成组装并下线，设备自动化率达95%，服 务器、电子元器件等国产化率达100%，并已达到国内整机智能制造产线最高水平。 11月19日中科算网科技有限公司乔迁新址，昆山算力基础设施登上了新高度。该企业运营的昆山智能计 算中心由中国科学院院士陈国良领衔，中心搭载多种类智能计算芯片，承担各类产学研大型训练、推理 任务，目前综合算力使用率超60%。 放到更大的范围来看，昆山正向区域性算力高地迈进。昆山拥有博浩智算、世纪互联等一批算力中心， 其中博浩智算中心建成后算力规模将达到5000PFlops，成为全国唯一拥有超算、智算两大算力基础设施 的县域。 从一家企业的技术突围，到产业集群的崛起，再 ...

Group 1 - The 2025 World Computing Conference was held in Changsha, Hunan, where the "Top Ten Global Computing Innovations" and "Top Ten Global Computing Development Trends" were announced, serving as a "guiding star" for industry development [1] - The top ten innovations include the global computing entering the ZFLOPS era (10^21 floating-point operations per second), exponential growth in global computing capacity, accelerated collaboration of regional computing clusters, and the first commercial deployment of neuromorphic processors [1] - The ten development trends highlight the accelerated multipolar restructuring of the global computing supply chain, deep evolution of computing architecture to overcome "memory wall" and "bandwidth wall" challenges, the emergence of Model as a Service (MaaS) as a fundamental path for computing power accessibility, and the significant empowering role of efficiency-enhancing tools in computing optimization [1] Group 2 - China has established the world's largest and technologically advanced computing infrastructure, with 10.85 million standard racks in use and an intelligent computing scale exceeding 788 EFLOPS (10^18 floating-point operations per second) as of June 2025 [2] - The national computing network framework consists of "eight major hubs and ten data center clusters," showcasing China's leading position in computing supply capacity and significant breakthroughs in key technology products [2] - The Ministry of Industry and Information Technology of China reported that the advanced computing industry has achieved remarkable results, with the total computing scale ranking among the top globally and accelerated experimental applications of domestically developed AI chips and large models [2]

Core Insights - The underlying computing power required for the Agentic AI revolution is much less than anticipated, indicating a structural transformation rather than a bubble [2][44] - NVIDIA's CEO Jensen Huang emphasized that the current AI enthusiasm is supported by a significant shift in computing architecture, moving from general-purpose to accelerated computing [45][46] Group 1: AI and Robotics - Elon Musk predicts that humanoid robots will become the largest industry ever, surpassing smartphones and other products, as they will be desired by both individuals and businesses [4][7] - Musk believes that Tesla will be the first company to produce truly useful humanoid robots, which will revolutionize the market [4][6] - The discussion highlighted the potential of AI and humanoid robots to address significant societal issues, including poverty [5][7] Group 2: AI Factories - Saudi Arabia is investing in AI infrastructure, aiming to become one of the most AI-empowered nations through the establishment of AI factories [8][9] - Huang likened AI to a new form of infrastructure, essential for transforming various industries and sectors [9][10] Group 3: Future of Work - Musk envisions a future where work becomes optional, similar to leisure activities, allowing individuals to choose whether to engage in work [13][15] - Huang noted that AI will enhance productivity, leading to more efficient work processes and potentially increasing the demand for certain professions, such as radiologists [21][22] Group 4: AI Applications and Collaborations - NVIDIA is collaborating with Humane to develop a significant data center project, showcasing the rapid growth of AI applications beyond traditional uses [23][24] - The partnership aims to leverage AI in various fields, including robotics and quantum computing [24] Group 5: AI in Space - Musk stated that deploying AI in space is inevitable for the advancement of civilization, particularly for harnessing solar energy [25][36] - The discussion emphasized that space offers a more efficient environment for AI operations compared to Earth, due to continuous solar energy availability [41][42] Group 6: AI Bubble Discussion - Huang argued that the current AI excitement is not a bubble but a result of three major trends: the end of Moore's Law, the rise of generative AI, and the emergence of Agentic AI [44][45][46] - The transition from CPU to GPU-driven systems marks a significant shift in computing paradigms, supporting the growth of AI technologies [45][46]

Core Points - The meeting between Zhengzhou Mayor Zhuang Jianqiu and Huawei Senior Vice President Yang Ruikai focused on strengthening practical cooperation between the two parties [1][2] - Zhengzhou is positioning itself as a national central city, emphasizing the importance of digital economy as a key driver for new productive forces [1] - Huawei is recognized as a leading enterprise in the information and communication technology sector, with a strong foundation for strategic cooperation with Zhengzhou [1] - Both parties aim to deepen collaboration in areas such as artificial intelligence, advanced computing, and healthcare to support Zhengzhou's digital economy [1] - Huawei expresses confidence in Zhengzhou's development potential, citing its advantageous location, complete market factors, and rich application scenarios [2] Summary by Sections Meeting Overview - Mayor Zhuang Jianqiu welcomed Huawei's delegation and expressed gratitude for the company's support in Zhengzhou's economic and social development [1] - The meeting highlighted the alignment of Zhengzhou's strategic development needs with Huawei's capabilities [2] Strategic Cooperation - The discussion emphasized the need for Huawei to increase its strategic investments in Zhengzhou [1] - Both parties are committed to establishing a closer cooperation mechanism to achieve mutual benefits and greater development [1] Future Outlook - Huawei plans to leverage its strengths to meet Zhengzhou's strategic development demands and expand cooperation areas [2] - The digital economy in Zhengzhou is expected to continue its strong momentum and broad prospects [2]

Core Viewpoint - The company, Guoxin Technology (688262.SH), is experiencing significant growth in demand for customized chips due to the rapid development of artificial intelligence and advanced computing markets, leading to a robust order backlog and a focus on executing these orders effectively [1] Group 1 - The customized chip business is witnessing a substantial increase in global demand [1] - The company has a strong order backlog for its customized chip business [1] - The company is fully committed to enhancing the execution of its existing orders [1]

Core Insights - The UAE demonstrates economic resilience through sovereign investments and strategic partnerships with global partners [1] - The focus of the investments includes future industries such as AI, digital infrastructure, advanced computing, healthcare, advanced manufacturing, and clean energy [1] Investment Strategy - The UAE's sovereign investment strategy is aimed at establishing strategic connections with global partners [1] - The sectors targeted for investment reflect a commitment to innovation and sustainability [1]

Core Insights - A comprehensive strategic cooperation has been established between ChipLink Integrated and Henan Yuxin Electronic Technology Group, focusing on AI server power management chips and extending applications in smart electrical equipment, data centers, and new energy vehicles [1][2] - The collaboration aims to leverage each company's strengths in chip design, manufacturing, and computing infrastructure to enhance the supply chain for AI semiconductors and promote the development of key power chips for AI servers [2] Group 1 - ChipLink Integrated has developed a one-stop chip system foundry solution, with products accounting for over 50% of the BOM cost for server power supplies [1] - Yuxin Electronic Technology has cultivated competitive enterprises in semiconductor materials and wafer manufacturing, such as Maxke Electronics [1] - The partnership will explore industrial cooperation and resource sharing to strengthen the AI semiconductor supply chain [2] Group 2 - The two companies plan to establish a joint laboratory focusing on the research and development of AI server power management chips, facilitating the industrialization of power module products [2] - They will also collaborate on a semiconductor industry investment fund, targeting the semiconductor supply chain and downstream fields like artificial intelligence and advanced computing [2] - The investment fund aims to integrate industry insights with capital empowerment, creating a sustainable ecosystem for the semiconductor industry [2]