Report Industry Investment Rating No information provided in the content about the report industry investment rating Core Viewpoints - The overall market technical signals of commodity futures show a differentiated pattern. Non-ferrous metals such as alumina and aluminum are bullish; among the black series, iron ore is bullish while rebar is bearish. The signals of energy, chemical, and agricultural products sectors vary, with most varieties showing a sideways trend. Financial futures, including the CSI 500, CSI 1000, SSE 50, and SSE 300 index futures, all show a sideways pattern. Among them, the IC CSI 500 futures are expected to maintain a sideways upward correction in the short term. For treasury bond futures, the 2-year variety shows a sideways trend, while the 5-year, 10-year, and 30-year varieties show bearish signals [1][2] Summary by Directory 1. Non-ferrous and Precious Metals Sector - Precious metals like gold and silver show bearish signals, while others show a sideways trend. In the non-ferrous metal sector, alumina and aluminum show bullish signals, zinc and tin show bearish signals, and the rest are mostly sideways [9] - The long - term upward trend of Shanghai copper is clear, but it may enter a short - term adjustment. The monthly line is in the third wave of the upward phase since 2016, with long - term trends unchanged, but the daily line shows a sideways trend [1][13] 2. Black and Shipping Sector - Iron ore shows a bullish signal, rebar, hot - rolled coil, coke, and ferrosilicon show bearish signals, and the rest are mostly sideways. European - line container shipping shows a bearish signal [18] - Rebar prices have been in a downward channel with a gradually rising center of gravity since October 2021. Currently, technical momentum is insufficient, and it is expected to continue to move sideways above the support range [21] 3. Energy and Chemical Sector - In the energy sector, LPG shows a bullish signal, and low - sulfur fuel oil shows a bearish signal, with others being sideways. In the chemical sector, propylene and polypropylene show bullish signals, while pure benzene and pulp show bearish signals, and the rest are mostly sideways [27] - Methanol has short - term upward momentum, with key resistance in the range of 5300 - 5500 yuan/ton [1][30] 4. Agricultural Products Sector - Soybean No. 1 and sugar show bullish signals, while soybean No. 2, palm oil, rapeseed meal, corn starch, and apples show bearish signals, and the rest are mostly sideways [36] - Sugar prices are under significant short - term bearish pressure, and although there may be a technical rebound due to oversold conditions, the overall downward pattern is difficult to change [1] 5. Stock Index Futures Sector - The SSE 50, CSI 500, CSI 1000, and SSE 300 index futures all show a sideways pattern. The IC CSI 500 futures are expected to maintain a sideways upward correction in the short term, but potential reversal signals need to be monitored [2][47] 6. Treasury Bond Futures Sector - The 2 - year treasury bond futures show a sideways trend, while the 5 - year, 30 - year, and 10 - year treasury bond futures show bearish signals. The 10 - year treasury bond futures are mainly sideways, and attention should be paid to the price trend next week [2][53]

1. Report Industry Investment Rating No specific industry investment rating is provided in the report. 2. Core View of the Report The report analyzes the futures market in the 53rd week of 2025 through technical indicators, showing that different sectors have different trends, with some showing bullish signals, some bearish, and others in a volatile state. The overall market has obvious structural characteristics, and it is recommended to track key indicators and pay attention to position management [1][2]. 3. Summary by Relevant Catalogs 3.1有色及贵金属板块 - The gold in the precious metals sector shows a bullish signal, while the rest are volatile. In the non - ferrous metals sector, aluminum, alumina, zinc, lead, industrial silicon, and lithium carbonate show bullish signals, and polysilicon shows a bearish signal, with the remaining varieties mainly volatile [8]. - The main contract of Shanghai copper has a strong upward trend. The weekly and monthly trends resonate, and the short - term possibility of a sharp correction is low [12]. 3.2黑色及航运板块 - Hot - rolled coils, iron ore, and coking coal show bullish signals, the rest of the black varieties are volatile, and European line container shipping shows a bearish signal [20]. - The price of the main rebar contract mainly consolidates, with insufficient technical momentum and is expected to continue to consolidate in the short term [24]. 3.3能化板块 - Fuel oil, low - sulfur fuel oil, and LPG in the energy sector show bullish signals, and the rest are volatile. In the chemical sector, polypropylene, pure benzene, caustic soda, etc. show bullish signals, and the rest are volatile [29]. - The PTA main contract has short - term upward repair momentum. If it breaks through the resistance, the medium - term target can be higher [32]. 3.4农产品板块 - Soybean meal, palm oil, rapeseed meal, sugar, corn, etc. show bullish signals, and the rest are volatile. The sugar main contract needs to pay attention to the risk of decline, and the short - term rebound is difficult to reverse the downward trend [38][42]. 3.5股指期货板块 - The Shanghai 50 Index futures, CSI 500 Index futures, CSI 1000 Index futures, and SSE Composite 300 Index futures all show a volatile pattern. The IC CSI 500 Index futures are expected to fluctuate next week with upward momentum, and attention should be paid to whether there are reversal signals [49][52]. 3.6国债期货板块 - The 10 - year and 30 - year treasury bond futures show bullish signals, while the 2 - year and 5 - year treasury bond futures are volatile. The T 10 - year treasury bond futures are mainly volatile, with upward repair power in the short term but also pressure [55][61].

Report Summary 1. Report Industry Investment Rating No industry investment rating is provided in the report. 2. Core Views of the Report Based on the performance of various sectors in 2025, the report provides technical analysis and risk management guidelines for different sectors in 2026, emphasizing the need for refined and differentiated risk management strategies due to the significant differentiation in sector trends and price fluctuations [1][2][3][4]. 3. Summary by Directory 3.1. Non - ferrous Metals Sector - **2025 Review**: The prices of non - ferrous metals showed significant differentiation in 2025, with most rising but with different fluctuation paths. Volatility varied among different varieties, with lithium carbonate, polysilicon, and nickel having higher volatility [12]. - **Key Variety Technical Analysis Outlook**: - **Copper (SHFE)**: In the medium - to - long term, it is still in an upward trend, with the next long - term resistance expected between 100,550 - 101,040 yuan/ton. In the short term, the upward trend is not smooth, and there is a risk of adjustment within the range [28][33]. - **Aluminum (SHFE)**: In the medium - to - long term, it is in an upward cycle, but a strong trend requires a signal. In the short term, there is a lack of a strong upward signal, and there is a risk of short - term correction [39][45]. - **Lithium Carbonate**: In the medium - to - long term, it is in a bullish trend but lacks verification. In the short term, the sustainability of the upward channel needs further verification, and there is a risk of volatility [50][58]. - **Risk Management Guidelines**: In 2026, risk management should focus on "continuing trends but increasing volatility, with significant differentiation in variety strategies", using refined and differentiated strategies for different varieties [62]. 3.2. Black Metals Sector - **2025 Review**: The black metals sector showed an overall oscillatory pattern in 2025, with raw materials more volatile than finished products. Finished products such as rebar and hot - rolled coils were under pressure throughout the year, while raw materials such as iron ore, coking coal, and coke showed a pattern of falling first and then rising [67][68]. - **Key Variety Technical Analysis Outlook**: - **Rebar**: In the medium - to - long term, it is in a downward channel, and technical indicators show no signal of trend reversal. In the short term, it maintains low - level operation, and price fluctuations need attention [83][89]. - **Iron Ore**: In the medium - to - long term, it is in a triangular consolidation state, lacking technical indicator signals. In the short term, the center of the oscillation range moves down, and attention should be paid to the lower support range [94][100]. - **Risk Management Guidelines**: In 2026, risk management should establish the core of "uncertain overall trend but coexistence of structural risks and opportunities", implementing refined and differentiated strategies [105]. 3.3. Energy and Chemicals Sector - **2025 Review**: The energy cost side represented by crude oil declined throughout the year, dragging down downstream chemical products. There was significant differentiation among varieties, with high volatility in raw materials and building materials and relatively mild volatility in mid - stream chemical products [107][108]. - **Key Variety Technical Analysis Outlook**: - **Methanol**: In the medium - to - long term, the long - cycle trend lacks technical guidance, and there is still price volatility. In the short term, attention should be paid to rebound opportunities, but sustainability and strength need more trading days to verify [128][135]. - **PTA**: In the medium - to - long term, the downward trend is not completed, and its sustainability is uncertain. In the short term, there is upward repair momentum, and attention should be paid to price fluctuations near the resistance range [140][148]. - **Risk Management Guidelines**: In 2026, risk management should adopt refined management, mainly using interval band operations when the trend is unclear and continuously tracking factors affecting price fluctuations [152][153]. 3.4. Agricultural Products Sector - **2025 Review**: The agricultural products sector showed an overall oscillatory and weak pattern in 2025, with significant differentiation among varieties. Feed raw materials and some varieties showed a downward trend, while sugar showed independent oscillations [154]. - **Key Variety Technical Analysis Outlook**: - **Sugar**: In the medium - to - long term, there is still a risk of decline. In the short term, attention should be paid to the continuation of the downward trend [170][176]. - **Corn**: In the medium - to - long term, it is in a triangular consolidation state, and attention should be paid to short - term price opportunities. In the short term, the oscillation center rises, and attention should be paid to price fluctuations in the downward channel [180][188]. - **Risk Management Guidelines**: In 2026, risk management should abandon simple judgments on the overall direction of the sector and formulate differentiated strategies based on the technical forms and volatility characteristics of each variety [193].

Report Industry Investment Rating The report does not explicitly mention an overall industry investment rating. However, it provides individual ratings for different futures sectors, including "strongly bullish", "bullish", "neutral (sideways)", "bearish", and "strongly bearish" [1][2]. Core Viewpoints The overall market shows structural differentiation. Different futures sectors have different trends, and investors need to combine technical signals and exercise caution. For example, in commodity futures, precious metals, non - ferrous metals, black metals, energy, chemicals, and agricultural products have different outlooks; in financial futures, stock index futures and treasury bond futures also show different trends [1][2]. Summary by Directory 1. Non - ferrous and Precious Metal Sector - Gold and palladium in the precious metal sub - sector show bullish signals, while silver and platinum are sideways. In the non - ferrous sub - sector, aluminum, zinc, and aluminum alloy are bullish, nickel is bearish, and the rest are sideways [9]. - For Shanghai copper (CU2601), the medium - to - long - term upward trend remains intact, but there may be short - term adjustments. The resistance on the weekly line is in the range of 93,800 - 94,700 yuan/ton, and the support is around 91,000 yuan/ton [11]. 2. Black and Shipping Sector - Manganese silicon and ferrosilicon show bullish signals, rebar and wire rod show bearish signals, and the rest of the black series and European container shipping are sideways [19]. - For rebar (RB2601), the price dropped significantly this week. The MA60 moving average is a pressure level. The price has returned to the downward channel, and the expected upward momentum is limited. The resistance is in the range of 3,200 - 3,250 yuan/ton [22]. 3. Energy and Chemical Sector - In the energy sub - sector, fuel oil and low - sulfur fuel oil are bullish, LPG is bearish, and the rest are sideways. In the chemical sub - sector, synthetic rubber and ethylene glycol are bullish, and the rest are mostly sideways [29]. - For methanol (MA601), the price was relatively flat this week. The trading volume and open interest decreased significantly. The short - term price is expected to be in a sideways consolidation state, and long - position holders need to pay attention to position management [33]. 4. Agricultural Product Sector - Peanuts, soybean meal, and live pigs show bullish signals, while palm oil, rapeseed oil, corn, red dates, and soybean oil show bearish signals, and the rest are sideways [38]. - For sugar (SR605), the price dropped this week and hit a new low. The short - term price may fluctuate sideways or have a certain upward correction, and investors need to pay attention to position management [43]. 5. Stock Index Futures Sector - Shanghai 50 futures, CSI 300 futures, and CSI 500 futures show bullish signals, among which Shanghai 50 and CSI 300 futures show strongly bullish signals, and CSI 1000 is sideways [49]. - For IC CSI 500 futures, the short - term price has some upward momentum, but the medium - term price is expected to be sideways, and the upward space is limited. Investors need to pay attention to position management [51]. 6. Treasury Bond Futures Sector - 2 - year and 10 - year treasury bond futures show sideways signals, while 5 - year and 30 - year treasury bond futures show bearish signals [56]. - For T 10 - year treasury bond futures, the price is under downward pressure in the short term. The support range is between 107.06 - 107.39, but the support strength is weak. If the price rises above the MA250 moving average, it may enter a high - level sideways state [58].

Report Summary 1. Report Industry Investment Ratings No investment ratings for the industry are provided in the report [1][4][11] 2. Core Views - **Carbonate Lithium**: The carbonate lithium futures market is expected to be strong in the short - term. With a large - scale battery purchase agreement in the North American market, there is a strong demand expectation. If inventory continues to decline, the futures price may rise further. It's recommended to buy on dips [1] - **Polysilicon**: The polysilicon futures may fluctuate with a slight upward trend. The establishment of a storage platform indicates future production cuts, but the downstream demand is weak, and attention should be paid to the change of warehouse receipts [4][7] - **Industrial Silicon**: The industrial silicon futures market is expected to remain weak. The supply - demand pattern of the industry is weak, with high inventory and limited restocking due to downstream production cut expectations [11] 3. Summary by Commodity Carbonate Lithium - **Market Trend**: The main 2605 contract of carbonate lithium futures rose 3.43% to 95,980 yuan/ton compared with the previous trading day's closing price [1] - **Core Logic**: Influenced by a large - scale battery purchase agreement in the North American market, there is a strong demand expectation. The inventory data to be released tomorrow afternoon may affect the price [1] - **Technical Analysis**: The overall position increased significantly, and it is still controlled by bulls. The 5 - minute cycle of the 2605 contract shows a green line, red band, and red ladder. The overnight 2 - hour cycle shows a strong red ladder, with a long - short dividing line at 92,160 yuan/ton [1] - **Strategy Suggestion**: Buy on dips, and refer to the Band Winner indicator during intraday trading with the help of the 8:30 am live broadcast [1] Polysilicon - **Market Trend**: The main 2605 contract of polysilicon futures fell 0.03% to 54,600 yuan/ton compared with the previous trading day's closing price [4] - **Core Logic**: Affected by the establishment of a joint platform, the price opened higher. The establishment of the storage platform means future production cuts, but the downstream demand is weak, and the inventory is still accumulating [4] - **Technical Analysis**: The overall position decreased slightly, and it is still controlled by bulls. The 5 - minute cycle of the 2605 contract shows a green line, red band, and green ladder. The overnight 2 - hour cycle shows a weak green ladder, with a long - short dividing line at 54,835 yuan/ton [7] - **Strategy Suggestion**: It may fluctuate with a slight upward trend. Refer to the Band Winner indicator during intraday trading with the help of the 8:30 am live broadcast [7] Industrial Silicon - **Market Trend**: The 2605 contract of industrial silicon futures fell 1.43% to 8,255 yuan/ton compared with the previous trading day's closing price [11] - **Core Logic**: Affected by the production cut expectations of polysilicon and organic silicon, the supply - demand pattern is weak, and the inventory is at a three - year high with continuous accumulation for three weeks [11] - **Technical Analysis**: The overall position increased slightly, and it is controlled by bears. The 5 - minute cycle of the 2605 contract shows a green line, blue band, and green ladder. The overnight 2 - hour cycle shows a weak green ladder, with a long - short dividing line at 8,950 yuan/ton [11] - **Strategy Suggestion**: It is expected to remain weak. Pay attention to the influence of downstream polysilicon policies and short - term emotional fluctuations. Refer to the Band Winner indicator during intraday trading with the help of the 8:30 am live broadcast [11]

1. Report Industry Investment Rating No relevant content provided in the given text. 2. Core Viewpoints of the Report - The current futures market shows a significant differentiation pattern. The precious metals and non - ferrous metals sectors are generally strong, while the energy and chemical sectors and the agricultural products sectors are weak. The four major stock index futures show a bullish trend, and the signals in the treasury bond futures market are also differentiated [1][2]. - In operation, it is necessary to treat different types of varieties differently. For strong varieties, avoid chasing high prices and focus on opportunities after corrections. For weak varieties, pay attention to risk control [1]. 3. Summary by Relevant Catalogs 3.1 Colored and Precious Metals Sector - Gold in the precious metals sector shows a bullish signal, and silver is mainly oscillating. In the non - ferrous metals sector, zinc, lead, stainless steel, etc. show bullish signals, while industrial silicon, alumina, and lithium carbonate show bearish signals [10]. - For Shanghai copper CU2601, the medium - and long - term upward trend remains unchanged, with the key resistance level at 93,800 - 94,700 yuan/ton. There may be a short - term correction, but there is support at around 91,000 yuan/ton. If there is no top divergence and the Bollinger Band remains expanding during the correction, it is expected to continue the upward trend [12]. 3.2 Black and Shipping Sector - Coking coal and manganese silicon in the black sector show bullish signals, while rebar, hot - rolled coil, etc. show bearish signals. European line container shipping shows a bullish signal [20]. - For rebar RB2601, the mid - term upward repair still has momentum, but the MA60 moving average is a resistance level. The daily line shows that there are risk signals, and the upper resistance range is 3,200 - 3,250 yuan/ton [24]. 3.3 Energy and Chemical Sector - Crude oil in the energy sector shows a bullish signal, and LPG shows a bearish signal. In the chemical sector, p - xylene, plastic, etc. show bearish signals [30]. - For methanol 2601, the price mainly oscillates around the middle track of the Bollinger Band, and the upward channel is not smooth. Bulls need to pay attention to position management [33]. 3.4 Agricultural Products Sector - Palm oil and red dates in the agricultural products sector show bullish signals, while soybean No.1, soybean meal, etc. show bearish signals [39]. - For sugar SR601, the medium - term price still has downward fluctuation space, and the short - term rebound power is weak. Pay attention to position management [44]. 3.5 Stock Index Futures Sector - The four major stock index futures all show bullish signals, among which the CSI 300, CSI 500, and CSI 1000 futures show strong bullish signals [50]. - For the IC CSI 500 futures, the short - term has a certain upward repair power, but the medium - term price mainly oscillates, and the upward space is limited. Pay attention to position management [52]. 3.6 Treasury Bond Futures Sector - The 2 - year and 10 - year treasury bond futures show bullish signals, while the 5 - year and 30 - year treasury bond futures mainly oscillate [57]. - For the T 10 - year treasury bond futures, if the price continues to deviate below the MA250, the downward pressure is large; if it fluctuates between the two moving averages, wait and see; if it stabilizes above the MA120, the downward risk weakens [60][62].

Report Industry Investment Rating Not provided in the content Core Viewpoints The overall market presents structural opportunities. It is recommended to combine technical signals with position management to seize the operation opportunities when each variety corrects or breaks through. Different sectors and varieties show different trends, including bullish, bearish, and sideways signals [1]. Summary by Directory 1. Non-ferrous and Precious Metals Sector - The precious metals sector is mainly in a sideways trend, with no obvious price signals. In the non-ferrous sector, copper, aluminum alloy, aluminum, zinc, industrial silicon, and polysilicon show bullish signals, while alumina shows a bearish signal, and the rest of the varieties are mainly in a sideways trend [9]. - For Shanghai copper CU2601, the price has been rising this week. On the weekly level, it is above the key support range after breaking through the triangular consolidation, with a bullish moving average arrangement, but it faces strong resistance in the 89,000 - 90,500 yuan/ton range. On the daily level, the MACD shows a "golden cross" signal, and there is still room for an upward trend before a clear top signal appears [11]. 2. Black and Shipping Sector - According to the technical indicator ratings, rebar shows a bullish signal, while coke and manganese silicon show bearish signals. European Line Container Shipping shows no signal and is mainly in a sideways trend, and the rest of the black series varieties are mainly in a sideways trend [19]. - For rebar RB2601, the price has risen significantly this week. The weekly line shows no long - term upward signal, but it is gradually stabilizing. The daily line shows that the price has the possibility of breaking through the original downward channel. If the price rises with the expansion of the Bollinger Bandwidth, there is still some upward space, and the upper resistance range is around 3,200 - 3,250 yuan/ton [24]. 3. Energy and Chemical Sector - In the energy sector, LPG shows a bullish signal in technical indicators, and the rest of the varieties are mainly in a sideways trend. In the chemical sector, PTA, p - xylene, propylene, etc. show bullish signals, while caustic soda shows a bearish signal, and the rest of the varieties are mainly in a sideways trend [29]. - For methanol 2601, the price has been rising this week, but the Bollinger Bandwidth is narrowing, and the MACD signal is weakening. The price may face a callback risk after rising, and long - position investors need to pay attention to position management [33]. 4. Agricultural Products Sector - According to the technical indicator signals, soybeans, rapeseeds, and peanuts in the agricultural products sector show bullish signals, while soybean oil, apples, rapeseed meal, etc. show bearish signals, and the rest of the varieties are mainly in a sideways trend [39]. - For sugar SR601, the price has been rising this week, but the price center has decreased compared with last week. The weekly line shows a new low, and the OBV shows high - level sideways movement. The daily line shows that the rebound strength is insufficient. It is recommended to pay attention to subsequent price fluctuations and consider a long - position strategy at low prices when the moving average system shows more bullish arrangements and the MACD forms a golden cross [44]. 5. Stock Index Futures Sector - According to the technical indicator signals, the four major indexes all show sideways signals, with no obvious signal guidance [50]. - For the IC CSI 500 futures, the weekly line shows a slight rebound, but the rebound space next week may be limited. The daily line shows that the price is below the MA60 moving average, with weak upward momentum, and short - term price fluctuations are under pressure. Attention should be paid to position management [54]. 6. Treasury Bond Futures Sector - According to the technical indicator signals, the 5 - year and 10 - year treasury bond futures are mainly in a sideways trend, while the 2 - year and 30 - year treasury bonds show bearish signals [56]. - For the T 10 - year treasury bond futures, the price has fallen significantly this week. The weekly line shows a long - negative line breaking through the MA60 moving average, and there may be new short - position pressure. The daily line shows obvious short - term downward pressure. Attention should be paid to the linkage between the price and the Bollinger Band, and position management should be carried out [60].

Report Industry Investment Rating No specific industry investment rating was provided in the report. Core Viewpoints - The overall futures market is under pressure, with a dominant bearish sentiment. Most sectors and varieties show bearish signals, while only a few, such as polysilicon in the non - ferrous sector, rapeseed, and corn starch in the agricultural sector, show bullish signals [1]. - The domestic stock index futures market is under pressure. Except for the CSI 500 futures showing a volatile trend, the SSE 50, CSI 300, and CSI 1000 futures all show strong bearish signals. The treasury bond futures market is also weak, with 2 - year treasury bond futures being volatile and 5 - year, 10 - year, and 30 - year treasury bond futures generally bearish [2]. Summary by Directory 1. Non - ferrous and Precious Metals Sector - The precious metals sector is generally bearish. In the non - ferrous sector, polysilicon shows a bullish signal, while copper, lead, nickel, and others show bearish signals, and the rest are volatile [8]. - Lithium carbonate LC2601 is at risk of decline. The weekly K - line shows a weak reversal signal, and the daily line shows a significant pullback on Friday. It is expected to correct next week, with attention paid to the price range of 89,000 - 90,000 yuan/ton [12]. 2. Black and Shipping Sector - Coking coal, coke, and European container shipping show bearish signals, while the rest of the black series are volatile [20]. - Rebar RB2601 is at risk of decline. The daily line shows that after rising on Monday, it fell for three consecutive days. Currently, it is below the middle track of the Bollinger Band, facing short - term correction pressure, with support in the range of 2,950 - 3,000 yuan/ton [23]. 3. Energy and Chemical Sector - In the energy sector, low - sulfur fuel oil, asphalt, and LPG show bearish signals, and the rest are volatile. In the chemical sector, pure benzene, natural rubber, and others show bearish signals, and the rest are volatile [30]. - PTA2601 is generally volatile. The weekly line shows that the price center is flat, and the daily line shows that it lacks upward momentum. It is expected to be weakly volatile next week, with support in the range of 4,380 - 4,430 yuan/ton [33]. 4. Agricultural Sector - Rapeseed and corn starch show bullish signals, while palm oil, soybean meal, and others show bearish signals, and the rest are volatile [40]. - Sugar SR601 is at risk of short - term rebound. The weekly price hit a new low, but the OBV shows high - level volatility. The daily line shows continuous decline, and there is a certain rebound pressure in the short term, with resistance in the range of 5,500 - 5,530 yuan/ton [45]. 5. Stock Index Futures Sector - The CSI 500 futures show a volatile trend, while the SSE 50, CSI 300, and CSI 1000 futures show strong bearish signals [51]. - The IC CSI 500 futures are mainly in a corrective phase. The weekly K - line shows a significant decline, and the daily line shows a large decline on Friday. It is expected to rebound slightly at the beginning of next week but will face overall downward pressure, with support near the MA120 moving average [53]. 6. Treasury Bond Futures Sector - The 2 - year treasury bond futures are volatile, while the 5 - year, 10 - year, and 30 - year treasury bond futures show bearish signals [58]. - The T 10 - year treasury bond futures are weakly volatile. The weekly line shows a "reverse T" shape, with a significant reduction in positions, increasing the downward pressure. The daily line shows that it is above the MA60 moving average, but the short - term downward pressure increases [62].

1. Report Industry Investment Rating No specific industry investment rating is provided in the given content. 2. Core Viewpoints of the Report - The commodity futures market shows a differentiated pattern. Precious metals are generally volatile, some non - ferrous metals show bearish signals while lithium carbonate is rising, black - series commodities have mixed signals, energy - chemical products are also differentiated, and some agricultural products show bullish signs. The overall market is mainly volatile with unclear trend - based market conditions [1]. - The stock index futures market is under pressure, with the Shanghai 50 futures showing bearish signals and the CSI 300, CSI 500, and CSI 1000 futures showing strong bearish signals. The bond futures market is mainly volatile [2]. 3. Summary by Relevant Catalogs 3.1有色及贵金属板块 - The precious metal sector is generally volatile, and some non - ferrous metal varieties such as lead, stainless steel, etc. show bearish signals, while others are volatile [9]. - Lithium carbonate LC2601 has risen this week, trading above the MA60 moving average. It faces long - liquidation pressure near 90,000 yuan/ton, but the position is stable, and it is expected to fluctuate widely around the MA60 in the short term [11]. 3.2黑色及航运板块 - Iron ore, coking coal, manganese silicon, wire rod, and coke in the black - series and shipping sectors show bearish signals, while European container shipping shows volatile signals, and other black - series varieties are volatile [19]. - Rebar RB2601 has risen this week, with technical indicators showing bullish momentum. The closing price has re - entered the support range of 3050 - 3070 yuan/ton, and attention should be paid to the risk of price rebound [23]. 3.3能化板块 - In the energy sector, crude oil, asphalt, and LPG show bullish signals, while others are volatile. In the chemical sector, staple fiber, ethylene glycol, and bottle chips show bullish signals, while plastic, propylene, synthetic rubber, methanol, and pulp show bearish signals, and others are volatile [29]. - PTA2601 has risen this week, approaching the MA60 moving average and the upper - track of the descending channel, with greater downward pressure than upward pressure. It is expected to be volatile next week [32]. 3.4农产品板块 - In the agricultural product sector, soybeans No. 1, soybean meal, corn starch, and logs show bullish signals, while soybean oil, cotton, live pigs, sugar, and cotton yarn show bearish signals, and others are volatile [38]. - Soybean meal M2601 has risen this week, breaking through the MA60 moving average. There is still strong selling power above the closing price on Friday, and it has the momentum to continue rising [42]. 3.5股指期货板块 - The Shanghai 50 futures show bearish signals, and the CSI 300, CSI 500, and CSI 1000 futures show strong bearish signals [48]. - The IC CSI 500 futures are mainly volatile. The weekly line has entered a volatile state, and the daily line shows short - term volatility. Attention should be paid to the fluctuations near the MA60 moving average and the middle - track of the Bollinger Bands [50]. 3.6国债期货板块 - The 2 - year, 5 - year, 10 - year, and 30 - year treasury bond futures are mainly volatile [55]. - The T 10 - year treasury bond futures have short - term downward pressure, but the medium - term bullish trend has not ended. The price is mainly volatile around the middle - track of the Bollinger Bands [58][59].

Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report - Based on technical analysis, the precious metals sector is predominantly oscillating; in the non - ferrous sector, polysilicon and copper are bearish, and the rest of the varieties are oscillating. Lithium carbonate shows a bullish "hammer line" pattern on the weekly chart, with short - term rebound potential, expected to fluctuate between 71,300 - 76,800 yuan/ton [1]. - Technical analysis indicates that coking coal, coke, ferrosilicon, and European line container shipping show bearish signals, while the rest of the black - series varieties are mainly oscillating. Rebar dropped 2.32% this week, but there is potential for a technical rebound in the 2,950 - 3,000 yuan/ton range [2]. - In the energy - chemical sector, low - sulfur fuel oil and urea are technically bullish, while asphalt, PVC, and caustic soda show bearish signals, and the rest are oscillating. PTA is expected to oscillate between 4,380 - 4,430 yuan/ton in the short term [3]. - In the agricultural products sector, sugar is bullish, rapeseed and red dates are bearish, and the rest are oscillating. Soybean meal is expected to trade in the 3,065 - 3,070 yuan/ton range in the short term, and it is recommended to wait and see [4]. Summary by Directory 1. Non - ferrous and Precious Metals Sector 1.1 Non - ferrous and Precious Metals Sector Technical Indicator Signal Summary - The precious metals sector is mainly oscillating; in the non - ferrous sector, polysilicon and copper show bearish signals, and the rest of the varieties are mainly oscillating [10][11]. 1.2 Non - ferrous and Precious Metals Sector Weekly Pivot Analysis - High - volatility varieties such as tin, nickel, polysilicon, and lithium carbonate have wide price ranges for support and resistance levels, with prominent trading risks. Low - volatility varieties such as aluminum, lead, alumina, stainless steel, and gold are suitable for range - bound operations [17]. 2. Black and Shipping Sector 2.1 Black and Shipping Sector Technical Indicator Signal Summary - Coking coal, coke, and ferrosilicon show bearish signals; European line container shipping mainly shows bearish signals, and the rest of the black - series varieties are mainly oscillating [21][22]. 2.2 Black and Shipping Sector Weekly Pivot Analysis - Low - volatility varieties such as rebar, hot - rolled coil, wire rod, and iron ore are suitable for range - bound operations. High - volatility varieties such as coking coal, coke, and European line container shipping should be traded in the direction of the trend with strict stop - losses [29]. 3. Energy - Chemical Sector 3.1 Energy - Chemical Sector Technical Signal Summary - In the energy sector, low - sulfur fuel oil shows a bullish signal, and asphalt shows a bearish signal, with the rest oscillating. In the chemical sector, urea shows a bullish signal, and PVC and caustic soda show bearish signals, with the rest oscillating [33][34]. 3.2 Energy - Chemical Sector Weekly Pivot Analysis - Low - volatility varieties such as crude oil, fuel oil, and asphalt may be in a sideways consolidation state. High - volatility varieties such as natural rubber, synthetic rubber, and staple fiber require attention to price volatility risks and setting active stop - loss strategies [40]. 4. Agricultural Products Sector 4.1 Agricultural Products Sector Technical Indicator Signal Summary - Sugar in the agricultural products sector shows a bullish signal, rapeseed and red dates show bearish signals, and the rest of the varieties are mainly oscillating [45][47]. 4.2 Agricultural Products Sector Weekly Pivot Analysis - Low - volatility varieties such as soybeans, corn, and corn starch are in a low - volatility oscillating consolidation pattern. Medium - volatility varieties such as soybean meal, rapeseed meal, and sugar have a certain price swing space. High - volatility varieties such as oils, live pigs, and apples have potential price volatility risks and opportunities [53].