Core Points - The core viewpoint of the meetings held in Madrid is that mutual respect and equal consultation can enhance understanding and promote win-win outcomes in Sino-U.S. economic and trade relations [1][2][3] Group 1: Economic and Trade Relations - The meetings resulted in a basic framework consensus on addressing economic and trade issues, including the TikTok situation, reducing investment barriers, and promoting economic cooperation [1][2] - Both parties acknowledged the significance of a stable Sino-U.S. economic relationship for both nations and its impact on global economic stability and development [1][3] Group 2: TikTok Issue - The TikTok issue was a key topic, with both sides agreeing to resolve it through cooperation, emphasizing the importance of respecting corporate intentions and market rules [2] - The consensus reached regarding TikTok includes operational delegation of U.S. user data and content security, as well as the authorization of algorithm-related intellectual property usage [2] Group 3: Concerns and Future Actions - China expressed serious concerns over the U.S. unilateral trade restrictions and the expansion of sanctions against Chinese entities, urging the U.S. to cease such actions [3] - Both sides recognized the importance of continuing dialogue and cooperation to bridge differences and achieve mutually beneficial outcomes, thereby ensuring the healthy and stable development of Sino-U.S. economic relations [3]

环球时报记者 倪浩 尹野平 何珊 当地时间9月15日，中美经贸会谈中方新闻发布会在西班牙马德里举行。中国商务部国际贸易谈判代表 兼副部长李成钢、国家互联网信息办公室副主任王京涛出席发布会。商务部新闻发言人何亚东主持发布 会。（新华社） 博观工作室出品 文丨环球时报驻西班牙特派记者 许海林 坦诚、深入、建设性！ 当地时间9月14日至15日，在有着400多年历史的欧洲古城马德里，中美两国最高层级的经贸团队，进行 了为期两天的面对面沟通。 这是继日内瓦、伦敦、斯德哥尔摩之后的第四场会谈。 会后，中方发表了经贸会谈成果文件。 会谈成果中明确指出：双方就以合作方式妥善解决TikTok相关问题、减少投资障碍、促进有关经贸合作 等达成了基本框架共识。 在博观工作室看来，这看似是一份"技术性"的声明，但背后释放出的信号，绝不只是对中美经贸关系的 影响，更牵动着整个世界的神经。 首先看会谈地点，之所以选在马德里，其实大有深意。 中美选择马德里作为沟通平台，凸显了欧洲的桥梁作用。 更深层次的是，中国和欧洲的互动正不断加深。该地区不少国家都欢迎中国在全球经贸治理中发挥更大 作用。 所以说，中美对话的舞台虽然在马德里，但背后折射的， ...

Group 1 - The core viewpoint of the meetings held in Madrid emphasizes the importance of mutual respect and equal consultation between China and the U.S. to enhance consensus and promote win-win outcomes in economic and trade relations [1] - The discussions resulted in a basic framework consensus on addressing the TikTok issue through cooperative means, reducing investment barriers, and promoting economic cooperation [1][2] - Both parties recognized the significance of a stable China-U.S. economic relationship for both nations and its critical impact on global economic stability and development [1] Group 2 - The TikTok issue was a key topic, with both sides agreeing to resolve it through methods that respect corporate intentions and market rules, such as operational delegation of user data and content security [2] - China maintains a constructive and responsible attitude, emphasizing that any agreements should not compromise principles, corporate interests, or international fairness [2] - The U.S. is urged to provide an open, fair, and non-discriminatory business environment for Chinese companies, including TikTok, in line with the consensus reached [2] Group 3 - Concerns were raised regarding the U.S. unilateral trade restrictions and the expansion of sanctions against Chinese entities, which are viewed as violations of international law and norms [3] - The importance of continuing equal dialogue and seeking mutual cooperation to bridge differences and resolve issues was highlighted [3] - Both parties are encouraged to implement the important consensus reached by their leaders and previous economic discussions to foster a healthy, stable, and sustainable China-U.S. economic relationship [3]

Price Trends - Shanghai Export Container Freight Index (SCFIS) for Europe decreased to 1440.24 points, down 8.1% from the previous period[2] - Ningbo Export Container Freight Index (NCFI) for Europe fell to 729.42 points, down 14.78% from the previous period[2] - SCFIS for the US West Coast increased to 1349.84 points, up 37.7% from the previous period[2] - NCFI for the US West Coast dropped to 1216.14 points, down 9.13% from the previous period[2] Economic Indicators - Eurozone August Manufacturing PMI was 50.5, above the forecast of 49.5 and previous value of 49.8[2] - Eurozone August Services PMI initial value was 50.7, slightly below the forecast of 50.8[2] - US August Manufacturing PMI initial value reached 53.3, the highest in 39 months, exceeding the forecast of 49.5[2] Market Sentiment - Ongoing US-China trade negotiations show no substantial progress, leading to a slight decline in spot prices[3] - The main contract closed at 1163.1, with a decrease of 1.57% and a trading volume of 17,800 contracts[3] - Recommendations suggest light positions or observation due to geopolitical tensions and tariff fluctuations[3] Strategic Recommendations - Short-term strategy advises maintaining weak positions in main contracts and stronger positions in distant contracts[4] - Suggested light long positions around 1200 for the 2510 contract and around 1600 for the 2512 contract[4] - Long-term strategy recommends taking profits on high points and waiting for stabilization before making further decisions[4]

Oil Industry - International oil prices rebounded overnight, with Brent 11 contract rising by 0.88%. Geopolitical risks from the Russia-Ukraine conflict and potential US sanctions on Russia are increasing, providing short-term support to the oil market [1] - However, medium-term supply-demand pressures are expected to increase, with projected global oil market surpluses of 1.64 million barrels per day in 2025 and 2.67 million barrels per day in 2026. The most significant surplus pressure is anticipated in the first quarter of next year [1] - Global oil inventories have increased by 1.2% since the beginning of the second half of the year, confirming ongoing expectations of a loose balance sheet [1] Precious Metals - Precious metals maintained strength overnight, with market pricing indicating that the Federal Reserve is expected to cut interest rates three times this year. Focus is on the upcoming Federal Reserve meeting and Powell's guidance on future paths [2] Copper Industry - Copper prices reached a new high for the year, driven by technical breakthroughs and active trading in LME special warehouses, supported by new US-China negotiations and rising precious metal prices [3] - Domestic industrial value added continued to slow down, with SMM copper social inventory increasing to 154,200 tons [3] Aluminum Industry - Shanghai aluminum showed a strong oscillation, with downstream operations continuing to seasonally recover, although aluminum ingot inventories remain low [4] - The market is closely monitoring seasonal demand feedback as the short-term price is expected to test resistance at the March high [4] Zinc Industry - LME zinc inventories are at a low of 50,000 tons, with tight overseas spot markets and expectations of Federal Reserve rate cuts driving a rebound in zinc prices [7] - Domestic zinc prices are under pressure from weak fundamentals, with a narrow fluctuation above 22,000 [7] Lithium Carbonate - Lithium carbonate prices rebounded with general trading activity, as total market inventory decreased by 1,000 tons to 138,500 tons, while downstream inventory increased by 3,000 tons to 58,000 tons [11] - The market is cautiously optimistic about short-term price support, but attention is needed on external changes for long-term direction [11] Steel Industry - Steel prices continued to rebound, with rebar demand and production both declining, while hot-rolled demand significantly improved [14] - High furnace production has alleviated negative feedback pressure, but overall demand remains weak, with steel exports maintaining high levels [14] Iron Ore - Iron ore prices rose overnight, with global shipments significantly increasing, reaching a new weekly high for the year [15] - Domestic port arrivals slightly decreased, but terminal demand showed a slight recovery, supporting iron ore demand [15] Fertilizer Industry - Urea production has slightly increased due to the recovery of previously shut down facilities, maintaining a sufficient supply [23] - Industrial demand is recovering, with agricultural downstream showing signs of replenishment, particularly in the Northeast market [23] Agricultural Products - The soybean market is experiencing fluctuations as US-China trade negotiations continue, with USDA's September supply and demand report showing a slight decrease in yield but an increase in ending stocks [35] - Domestic soybean meal inventory has risen to 1.1362 million tons, indicating ample supply [35] Cotton Industry - US cotton prices showed a slight increase, with the USDA's September report indicating an upward adjustment in both production and consumption [42] - Domestic cotton sales are stable, with attention on the upcoming new cotton harvest and its impact on market dynamics [42]

新华社报道，中国商务部国际贸易谈判代表兼副部长李成钢15日傍晚表示，中美双方就以合作方式妥善 解决TikTok问题、减少投资障碍、促进有关经贸合作等达成了基本框架共识。 当地时间9月14日至15日，中美双方经贸团队在西班牙马德里举行会谈。李成钢在会谈结束后中方代表 团举行的新闻发布会上说，过去两天，中美双方积极落实两国元首通话重要共识，充分发挥中美经贸磋 商机制作用，在相互尊重、平等协商的基础上，就TikTok等双方关注的经贸问题进行了坦诚、深入、建 设性的沟通。 关于TikTok问题，李成钢表示，中国一贯反对将科技和经贸问题政治化、工具化、武器化，绝不会以牺 牲原则立场、企业利益和国际公平正义为代价，寻求达成任何协议。中方将坚决维护国家利益和中资企 业合法权益，依法依规开展技术出口审批。同时，中国政府充分尊重企业意愿，支持企业在符合市场原 则基础上，开展平等商业谈判。 中美就妥善解决TikTok问题达成基本框架共识 发布会上，中国国家互联网信息办公室副主任王京涛在回答媒体提问时指出，中美双方在充分尊重企业 意愿和市场规律的基础上，就通过TikTok美国用户数据和内容安全业务委托运营、算法等知识产权使用 权授 ...

Group 1 - The core viewpoint of the article is that China and the U.S. have reached a basic framework consensus to properly address the TikTok issue, reduce investment barriers, and promote economic and trade cooperation [1][2] - The discussions took place in Madrid, Spain, on September 14-15, where both sides engaged in constructive communication regarding economic issues of mutual concern, including TikTok [1][2] - China emphasizes its opposition to politicizing technology and economic issues, asserting that it will not sacrifice principles or corporate interests for any agreement [1][2] Group 2 - The Chinese government supports the legitimate rights of Chinese enterprises and aims to create a fair and non-discriminatory business environment for them in the U.S. [2] - Both sides have agreed on operational methods for TikTok's U.S. user data and content security, including the delegation of operations and authorization of intellectual property rights [2] - There is a recognition of the importance of stable and healthy Sino-U.S. economic relations, with both teams committed to maintaining close communication for further negotiations [2][3] Group 3 - China has expressed concerns over the U.S. expanding sanctions against Chinese entities, viewing it as unilateral bullying that contradicts international law [3] - The Chinese side urges the U.S. to correct its mistakes and lift restrictions to maintain the hard-won results of Sino-U.S. economic negotiations [3] - Appreciation was expressed for Spain's support and hospitality during the economic talks [4]

当地时间9月15日，中美经贸会谈中方新闻发布会在西班牙马德里举行。中国商务部国际贸易谈判代表兼副部长李成钢、国家互联网信息办公室副主任王京涛出席 发布会。商务部新闻发言人何亚东主持发布会。新华社记者 彭子洋 摄 "中方之所以同意与美方达成相关共识，是因为我们经过评估判断，这种共识符合双方的利益。"李成钢表示，通过对TikTok问题的讨论，双方进一步认 识到稳定健康的中美经贸关系的重要性。双方团队将继续保持密切沟通，就相关成果文件细节进行磋商，并各自履行国内批准程序。 发布会上，李成钢还指出，中方注意到，在中美经过一系列经贸磋商之后，美方仍然在不断扩大对中国实体的制裁。美方泛化国家安全，不断扩大对中 国实体的制裁清单，长臂管辖的手越伸越长，这是典型的单边霸凌行径，有违国际法和国际关系的基本准则，中方对此坚决反对，并在会谈中向美方提 出了严正关切。 李成钢强调，中美双方经贸会谈的成果来之不易，美方不能一方面让中方照顾美方的关切，另一方面又持续打压中国的企业。中方敦促美方纠正错误， 尽快取消这些限制措施，与中方相向而行，共同维护来之不易的中美经贸磋商成果，推动双边经贸关系健康、稳定、可持续发展。 李成钢还对东道主西 ...

李成钢强调，中美双方经贸会谈的成果来之不易，美方不能一方面让中方照顾美方的关切，另一方面又持续打压中国的企业。中方敦促美方纠正错误， 尽快取消这些限制措施，与中方相向而行，共同维护来之不易的中美经贸磋商成果，推动双边经贸关系健康、稳定、可持续发展。 当地时间9月15日，中美经贸会谈中方新闻发布会在西班牙马德里举行。中国商务部国际贸易谈判代表兼副部长李成钢、国家互联网信息办公室副主任 王京涛出席发布会。商务部新闻发言人何亚东主持发布会。新华社记者 彭子洋 摄 中国商务部国际贸易谈判代表兼副部长李成钢15日傍晚在此间表示，中美双方就以合作方式妥善解决TikTok问题、减少投资障碍、促进有关经贸合作等 达成了基本框架共识。 当地时间9月14日至15日，中美双方经贸团队在西班牙马德里举行会谈。李成钢在会谈结束后中方代表团举行的新闻发布会上说，过去两天，中美双方 积极落实两国元首通话重要共识，充分发挥中美经贸磋商机制作用，在相互尊重、平等协商的基础上，就TikTok等双方关注的经贸问题进行了坦诚、深 入、建设性的沟通。 关于TikTok问题，李成钢表示，中国一贯反对将科技和经贸问题政治化、工具化、武器化，绝不会以牺牲原 ...

中美就妥善解决TikTok问题达成基本框架共识 新华社报道，中国商务部国际贸易谈判代表兼副部长李成钢15日傍晚表示，中美双方就以合作方式妥善 解决TikTok问题、减少投资障碍、促进有关经贸合作等达成了基本框架共识。 当地时间9月14日至15日，中美双方经贸团队在西班牙马德里举行会谈。李成钢在会谈结束后中方代表 团举行的新闻发布会上说，过去两天，中美双方积极落实两国元首通话重要共识，充分发挥中美经贸磋 商机制作用，在相互尊重、平等协商的基础上，就TikTok等双方关注的经贸问题进行了坦诚、深入、建 设性的沟通。 关于TikTok问题，李成钢表示，中国一贯反对将科技和经贸问题政治化、工具化、武器化，绝不会以牺 牲原则立场、企业利益和国际公平正义为代价，寻求达成任何协议。中方将坚决维护国家利益和中资企 业合法权益，依法依规开展技术出口审批。同时，中国政府充分尊重企业意愿，支持企业在符合市场原 则基础上，开展平等商业谈判。 发布会上，中国国家互联网信息办公室副主任王京涛在回答媒体提问时指出，中美双方在充分尊重企业 意愿和市场规律的基础上，就通过TikTok美国用户数据和内容安全业务委托运营、算法等知识产权使用 权授 ...