Core Insights - The A-share market indices collectively rose on Wednesday, with the Shanghai Composite Index increasing by 0.52%, the Shenzhen Component Index by 0.83%, and the ChiNext Index by 1.21%. The total market turnover was 12,866 billion, a decrease of 1,646 billion from the previous day, with over 3,400 stocks rising across the market. The sectors with the highest gains included rare earth permanent magnets, energy metals, and automotive parts, while the CRO concept sector saw declines [3][7]. Important News - The first meeting of the China-U.S. economic and trade consultation mechanism took place on June 9-10, 2025, in London. The Chinese lead, Vice Premier He Lifeng, and the U.S. lead, Treasury Secretary Yellen, along with other officials, engaged in candid and in-depth discussions on economic and trade issues of mutual concern. They reached a principled consensus on the framework for implementing the important consensus from the June 5 call between the two heads of state and made progress in addressing each other's economic and trade concerns [4][8].

Group 1 - The first meeting of the China-US economic and trade consultation mechanism took place in London, with both sides achieving a principled consensus on addressing economic concerns and enhancing cooperation [2][3] - China emphasized the mutual benefits of the economic relationship, stating that trade wars yield no winners and expressing a willingness to engage in dialogue to resolve differences [2] - The US side reported positive outcomes from the meeting, aiming to stabilize bilateral economic relations and implement the consensus reached [3] Group 2 - The China Automobile Industry Association reported that from January to May, automobile production and sales reached 12.826 million and 12.748 million units, respectively, marking year-on-year increases of 12.7% and 10.9% [4] - New energy vehicle production and sales during the same period were 5.699 million and 5.608 million units, reflecting year-on-year growth of 45.2% and 44%, with new energy vehicles accounting for 44% of total new car sales [4] Group 3 - The Zhejiang Provincial Department of Commerce and 17 other departments issued measures to support the overseas expansion of the gaming industry, including increased financial support [5] - Companies such as Silver Wheel Co. plan to establish joint ventures to enter the intelligent robot parts market, while Tian Ci Materials intends to build an integrated production base for electrolytes and raw materials in Morocco [7]

Report Industry Investment Ratings - Crude oil: ☆☆☆ (interpreted as having a certain bullish trend with appropriate investment opportunities according to the star - rating description) [1] - Fuel oil: ☆☆☆ [1] - Low - sulfur fuel oil: ☆☆☆ [1] - Asphalt: ☆☆☆ [1] - Liquefied petroleum gas (LPG): ☆☆☆ [1] Core Viewpoints - The international oil price showed a pattern of rising and then falling overnight, and the SC07 contract declined by 0.35% during the day. The lack of incremental progress in Sino - US negotiations led to insufficient upward momentum for oil prices. Although there were short - term supports for crude oil, the medium - term decline in oil demand and the return of supply would limit the strength of short - term positives. The upward space for crude oil rebounds is limited [2]. - The demand for high - sulfur fuel oil in shipping and deep - processing remains relatively weak. With the expected increase in high - sulfur heavy - crude supply from OPEC+ and sufficient low - sulfur fuel oil supply, the crack spreads of both high - sulfur and low - sulfur fuel oil are expected to be under pressure [2]. - The BU crack spread of the September contract for asphalt has declined, reaching the entry point for the long - BU crack strategy. Despite short - term pressure on the crack spread, the upward trend is unlikely to reverse due to factors such as high dilution asphalt prices, limited production increase, and growing demand [3]. - The domestic LPG market is under pressure. Although the domestic chemical demand is increasing, the growth space is limited. The market is in a state of low - level oscillation with some support from the rising crude oil price [4]. Summaries by Related Catalogs Crude Oil - Overnight international oil prices rose and then fell, with the SC07 contract down 0.35% during the day. After pricing in the optimistic expectations for Sino - US negotiations, there is no incremental progress beyond the Geneva consensus, resulting in insufficient upward momentum. Last week, the US API crude oil inventory decreased by 370,000 barrels, less than expected. After the short - term negative impact of OPEC+ production increase in July, factors like risk - sentiment repair in Sino - US trade, improved peak - season demand, and sanctions risks supported crude oil, but medium - term demand decline and supply return will limit short - term positives [2]. Fuel Oil & Low - Sulfur Fuel Oil - High - sulfur fuel oil demand in shipping and deep - processing is weak. Although there is support from power - generation demand in the Middle East and North Africa, lower expected temperatures in Saudi Arabia and Egypt and high - valued crack spreads may lead to more oil - based power generation. The expected increase in high - sulfur heavy - crude supply from OPEC+ will likely weaken the high - sulfur fuel oil crack spread. Low - sulfur fuel oil supply from Kuwait's Al - zour refinery and Nigeria's Dongoto refinery is abundant, and with weak demand, its crack spread is expected to be under pressure [2]. Asphalt - The BU crack spread of the September contract for asphalt has declined, reaching the entry point for the long - BU crack strategy. The high price of diluted asphalt in June and July has led to serious theoretical losses in processing, and port inventories are at an absolute low. Although some refineries with quotas have increased or switched to asphalt production, subsequent production increase lacks momentum. After the maintenance peak, the increase in asphalt production from major refineries is expected to be limited. The shipment volume of 54 sample refineries has been increasing, and the cumulative year - on - year figure has turned positive. The sales volume of road rollers, a leading indicator of asphalt consumption, increased significantly from January to April. The balance sheet shows a continued de - stocking trend and low inventory levels. Although the BU crack spread faces short - term callback pressure, the upward trend is unlikely to reverse [3]. Liquefied Petroleum Gas (LPG) - Domestic refinery prices for LPG remain weak. With the decline in terminal gas sales and increased refinery restarts, the domestic supply of LPG is abundant. Although domestic chemical demand is increasing month - on - month, the PDH profit margin has slightly declined, and the cost advantage of propane has decreased due to the fall in naphtha prices, limiting the growth space. Under off - season pressure, the inventories of terminals and refineries have increased, and the market is under pressure. The rising crude oil price provides some support to the futures market, and the market is in a state of low - level oscillation [4].

投资咨询业务资格:证监许可【2012】31号 | | | | | 国贸期货研究院 | | | 投资咨询号: Z0013700 | | | 2025/6/11 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 宏观金融研究中心 白素娜 | | | 从业资格号: F3023916 | | | | | 内外盘金 | 日期 | 伦敦金现 | 伦敦银现 | COMEX黄金 | COMEX白银 | AU2508 | | AG2508 | AU (T+D) | AG (T+D) | | 银15点价 | | (美元/盎司) | (美元/盎司) | (美元/盎司) | (美元/盎司) | (元/克) | | (元/千克) | (元/克) | (元/千克) | | 格厨房 | 2025/6/10 | 3327.60 | 36. 47 | 3347.40 | 36. 60 | 775. 06 | | 8887.00 | 772. 20 | 8868. 00 | | (本表数 据来源: | 2025/6/9 | 3324.9 ...

外交部发言人林剑主持例行记者会。 中美经贸磋商有无下一步具体安排？外交部回应 在11日的外交部例行记者会上，有媒体提问称，6月9日到10日，中美双方在伦敦举行中美经贸磋商机制 首次会议。您能否介绍这次会议的详细内容和成果？中美经贸磋商有无下一步具体安排？对此，中国外交 部发言人林剑表示，中方代表在伦敦就磋商的情况作出了回应，目前我没有可以进一步提供的信息。 外交部回应香港长和出售海外港口资产：中方一贯反对经济胁迫 证券时报各平台所有原创内容，未经书面授权，任何单位及个人不得转载。我社保留追 究相关 行 为主体 法律责任的权利。 转载与合作可联系证券时报小助理，微信ID：SecuritiesTimes END 点击关键字可查看 潜望系列深度报道丨 股事会专栏 丨 投资小红书 丨 e公司调查 丨 时报会客厅 丨 十大明星私募访谈 丨 商务部国际贸易谈判代表：中美原则上达成协议框架 丨 午盘，异动拉升！ 丨 美股，全线上涨！ 道指创阶段新高 丨 凌晨，比亚迪重大宣布！ 丨 车圈大事件！多家车企宣布→ 丨 见证历史！激增 80%，这一产品狂飙，规模突破3100亿元！ 丨 深圳，重磅利好！中办、国办发文 丨 A股，午后 ...

何立峰：中方对经贸磋商是有诚意的，也是有原则的 金十数据6月11日讯，中美经贸磋商机制首次会议在英国伦敦举行。何立峰表示，本次会议是在两国元 首今年6月5日战略共识指引下开展的一次重要磋商。中方对中美经贸问题的态度和立场是明确的、一贯 的。中美经贸关系的本质是互利共赢，中美在经贸领域合则两利、斗则俱伤。贸易战没有赢家，中方不 愿打，但也不怕打。双方应通过平等对话、互利合作解决经贸分歧，中方对经贸磋商是有诚意的，也是 有原则的。下一步，双方要按照两国元首通话达成的重要共识和要求，进一步发挥好中美经贸磋商机制 作用，不断增进共识、减少误解、加强合作。 （央视新闻） ...

昨天午后的突然跳水，果然是"虚惊一场"。 今天，"误会解除"的A股顺势迎来修复，沪指终于在收盘时站上了3400点，为5月14日以来首次。 回看本周三个交易日，市场实际涨幅不大，但波动明显放大，股民的信心也更容易动摇。 每经记者｜肖芮冬 每经编辑｜赵云 6 月 11 日，市场全天震荡反弹，创业板指领涨，沪指再度站上 3400 点。截至收盘，沪指涨 0.52% ，深成指涨 0.83% ，创业板指涨 1.21% 。 板块方面，稀土永磁、游戏、汽车零部件、证券等板块涨幅居前，可控核聚变、生物疫苗、通信服务等板块 跌幅居前。 全市场超 3400 只个股上涨。沪深两市全天成交额 1.26 万亿元，较上个交易日缩量 1599 亿。 而我们周一、周二相关推送中的两个判断，都在今天得到了验证。它们恰好也是大盘修复的动因。 一是，对于昨日突发跳水，我们判断这是场内资金"自己吓自己"，并借机清理浮筹。 据人民日报今天午间报道，当地时间6月10日，商务部国际贸易谈判代表兼副部长李成钢在伦敦谈到中美经贸 磋商机制首次会议时表示，中美双方进行了专业、理性、深入、坦诚的沟通。双方原则上就落实两国元首6月 5日通话共识以及日内瓦会谈共识达成 ...

百万用户都在看 突发，美军出动！特朗普发声 任正非最新发声！ 据人民日报消息，当地时间6月10日，商务部国际贸易谈判代表兼副部长李成钢在伦敦谈到中美经贸磋商 机制首次会议时表示，中美双方进行了专业、理性、深入、坦诚的沟通。双方原则上就落实两国元首6月 5日通话共识以及日内瓦会谈共识达成了框架。 来源：人民日报（原标题：商务部国际贸易谈判代表：中美原则上达成协议框架） 全面暂停！特朗普签了！ 责编：王璐璐 违法和不良信息举报电话：0755-83514034 邮箱：bwb@stcn.com 校对： 冉燕青 重磅来袭！突然，跳涨94%！ ...

当地时间6月10日，商务部国际贸易谈判代表兼副部长李成钢在伦敦谈到中美经贸磋商机制首次会议 时表示，中美双方进行了专业、理性、深入、坦诚的沟通。 双方原则上就落实两国元首6月5日通话 共识以及日内瓦会谈共识达成了框架。 ...

当地时间6月10日，商务部国际贸易谈判代表兼副部长李成钢在伦敦谈到中美经贸磋商机制首次会议时 表示，中美双方进行了专业、理性、深入、坦诚的沟通。双方原则上就落实两国元首6月5日通话共识以 及日内瓦会谈共识达成了框架。(人民日报) ...