外库存持稳。技术面，持仓减量，关注MA10支撑，预计短线偏强调整。操作上，建议暂时观望，或逢低轻 仓做多。 免责声明 | | | 沪镍产业日报 2025-07-07 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 期货主力合约收盘价:沪镍(日,元/吨) | 120540 | -1730 08-09月合约价差:沪镍(日,元/吨) | -140 | -50 | | | LME3个月镍(日,美元/吨) | 15260 | -95 主力合约持仓量:沪镍(日,手) | 69366 | -441 | | | 期货前20名持仓:净买单量:沪镍(日,手) | -6296 | -1846 LME镍:库存(日,吨) | 202470 | 0 | | | 上期所库存:镍(周,吨) | 24922 | 204 LME镍:注销仓单:合计(日,吨) | 8502 | 0 | | | 仓单数量:沪镍(日,吨) | 20832 | -227 | | | | 现货市场 | SMM1#镍现货价(日,元/吨) | 122 ...

Global Manufacturing PMI Overview - In June 2025, the global manufacturing PMI was 49.5%, an increase of 0.3 percentage points from May, indicating a continued contraction but a slight recovery trend [1] - The World Bank revised its global economic growth forecast for 2025 down from 2.7% to 2.3%, reflecting ongoing uncertainties in the global economic environment [1] Regional Manufacturing Performance Asia - The Asian manufacturing PMI reached 50.7 in June 2025, up 0.3 percentage points from May, indicating expansion and improved recovery [3] - The ongoing trade agreements, such as the China-South Korea Free Trade Agreement and the continued economic exchanges between China and ASEAN, are crucial for sustaining growth in the region [3] Americas - The manufacturing PMI for the Americas was 48.6 in June 2025, a slight increase of 0.2 percentage points from May, but still indicating contraction [2] - The U.S. manufacturing PMI was 49% in June, up 0.5 percentage points from May, ending a four-month decline but remaining below the expansion threshold [2] Europe - Europe's manufacturing PMI was 48.8 in June 2025, a marginal increase of 0.1 percentage points from May, continuing a slow recovery trend [2] - The European Central Bank may implement more supportive policies to stimulate economic recovery due to the ongoing weak performance [2] Africa - The African manufacturing PMI was 49.7 in June 2025, an increase of 1 percentage point from May, but still in contraction territory [4] - The reliance on natural resource exports continues to hinder Africa's economic recovery, necessitating a shift towards internal growth drivers [4]

Group 1 - The global manufacturing Purchasing Managers' Index (PMI) for June is reported at 49.5%, an increase of 0.3 percentage points from the previous month, indicating a slight recovery trend but still below the expansion threshold of 50% [1] - The manufacturing sector in Asia is operating in the expansion zone with a PMI of 50.7%, up 0.3 percentage points from last month, contributing positively to global economic recovery [1] - The Americas, Africa, and Europe are all in the contraction zone, with PMIs of 48.6%, 49.7%, and 48.8% respectively, although all regions show varying degrees of improvement compared to the previous month [1] Group 2 - The analysis suggests that the global economic recovery continues to face downward pressure, with uncertainty being a common theme among countries discussing recovery paths [2] - Strengthening multilateral cooperation and solidifying the foundation of global market demand is identified as a key direction for ensuring stable global economic recovery [2]

Core Insights - The global manufacturing PMI for June is reported at 49.5%, indicating a slight recovery but still within the contraction zone [1] - The index has increased by 0.3 percentage points compared to the previous month, marking two consecutive months of improvement [1] - Ongoing geopolitical tensions and uncertainty regarding U.S. tariff policies continue to exert downward pressure on global economic recovery [1] Summary by Category Global Manufacturing PMI - The global manufacturing PMI for June stands at 49.5%, reflecting a minor increase of 0.3 percentage points from the previous month [1] - This marks the second consecutive month of a slight rise in the index, suggesting a potential stabilization in manufacturing activity [1] Economic Recovery - The data indicates that the recovery of the global economy is gaining some momentum, although it remains fragile [1] - The manufacturing sector is still facing challenges due to external factors such as trade policies and geopolitical conflicts [1]

Group 1 - The global manufacturing Purchasing Managers' Index (PMI) for May is reported at 49.2%, a slight increase of 0.1 percentage points from the previous month, indicating that it has remained below 50% for three consecutive months, suggesting a contraction in the manufacturing sector [1] - In Europe, the manufacturing PMI is at 48.7%, up 0.3 percentage points from last month, marking a slow recovery trend over five months, although the recovery remains weak with the index hovering around 48% [1] - The manufacturing PMI for the Americas is reported at 48.4%, unchanged from the previous month, indicating continued contraction in the region's manufacturing sector [1] Group 2 - The manufacturing PMI for Asia stands at 50.4%, an increase of 0.4 percentage points from last month, indicating a return to expansion despite facing challenges such as U.S. tariffs [1] - The manufacturing PMI for Africa is reported at 48.7%, a decrease of 0.8 percentage points from the previous month, reflecting a weakening recovery momentum in the region [1] - Analysts suggest that U.S. tariffs continue to disrupt the global economy, increasing uncertainty and limiting long-term planning for businesses, which may weaken the global economic recovery capacity in the short term [2]