Core Insights - The report by Yihe Consulting provides an in-depth analysis of the ammonium sulfate market, focusing on global and Chinese markets, and aims to meet diverse client needs through detailed market insights [2][4]. Market Participants - The ammonium sulfate market includes a wide range of participants, from major fertilizer producers to local SMEs, with industry giants leveraging advanced production technologies and extensive sales networks to maintain market share [6]. - The report details the financial status, production capacity, and market positioning of key players, offering a comprehensive view of the competitive landscape [6]. Industry Structure - The ammonium sulfate supply chain is complex, involving upstream production of ammonia and sulfuric acid, and downstream applications in agriculture and industry [6]. - Price fluctuations in ammonia directly impact production costs of ammonium sulfate, while seasonal demand spikes in agriculture influence market dynamics [6]. Market Trends and Data - Historical data and future forecasts indicate stable growth in the ammonium sulfate market, driven by increasing global demand for sustainable agriculture and efficient fertilizers [7]. - The report compares growth potential across different regions and analyzes the impact of national policies on market development, aiding companies in identifying optimal market entry strategies [7]. Constraints and Challenges - The report identifies several constraints affecting market growth, including rising costs, stringent environmental regulations, and intensifying market competition [7]. - Fluctuations in raw material prices and the need for technological innovation are highlighted as critical factors for companies to manage production costs effectively [7]. Geopolitical Factors - Geopolitical issues significantly influence the ammonium sulfate market, affecting raw material supply chains and introducing potential tariffs and trade barriers [8]. - The report emphasizes the need for companies to monitor international political developments to adapt their market strategies accordingly [8]. Regional Analysis - The report provides a detailed analysis of the ammonium sulfate market across major regions, including North America, Europe, Asia-Pacific, and Latin America, with Asia-Pacific showing the fastest growth due to agricultural modernization and sustained fertilizer demand [8]. - Regional consumption characteristics, industry policies, and geographical differences are explored to help stakeholders understand market potential and challenges [8]. China Market Insights - The report specifically analyzes China's policy environment, including government support for the fertilizer industry and environmental regulations, which significantly impact market behavior [9]. - As the largest consumer of ammonium sulfate globally, changes in China's policies will directly affect the global supply-demand landscape [9].

Group 1 - The US non-farm payrolls for May exceeded expectations, leading to a stronger dollar and a decline in gold prices [1] - Chinese central bank's gold reserves increased to 73.83 million ounces by the end of May, marking the seventh consecutive month of gold accumulation [1] - The World Gold Council (WGC) maintains a bullish outlook on gold, citing potential price increases due to inflation eroding real yields and economic slowdown impacting equities and cyclical commodities [1] Group 2 - Despite a slowdown in the US economy, non-farm employment and unemployment rates remain stable, indicating that a recession has not yet occurred [2] - The pressure on the dollar is easing, but geopolitical factors and a weak dollar may still lead to a challenging environment for gold prices [2] - The recent slight pullback in gold prices is influenced by tariff uncertainties, but the overall price trend is expected to rise [1][2]

·光大期货：市场对黄金的分歧仍然存在 ·FXStreet：美元走强给黄金施加压力但市场仍关注贸易局势进展 ·Walsh Trading：美股反弹背景下在每盎司3400美元做多黄金不具有吸引力 ·铜冠金源期货表示，虽然美国与其他经济体的关税谈判还存在较大的不确定性，但当前中美经贸关税 有显著缓和，这使得之前助推金价不断创新高的核心因素避险需求减弱，金价步入调整，目前金价依然 处于阶段性调整之中。但黄金的避险属性和财富保值得到进一步强化，将限制金银价格回调的空间。预 计金价将继续维持高位震荡走势。 ·海通期货：弱势美元以及地缘政治因素仍将导致黄金易涨难跌 ·铜冠金源期货：预计金价将继续维持高位震荡走势 【机构分析】 ·海通期货表示，宏观数据方面，美国制造业和服务业PMI均陷入收缩区间，而非农就业和失业率持 稳，表明美国经济虽然正在减速，但暂时并未走向衰退。因此，虽然美元贬值压力难以完全消退，但下 行的速度已明显放缓。此外，6月5日，中美两国元首通话，双边关系边际缓和趋势延续，黄金形成一定 的利空。不过，即便全球贸易战尾部风险弱化，弱势美元以及地缘政治因素仍将导致黄金易涨难跌。 ·Walsh Trading商业对冲 ...

Group 1: Gold Market Analysis - The international gold market is experiencing a tug-of-war between bullish and bearish forces, with spot gold prices around $3355 per ounce, indicating underlying tensions despite a seemingly calm surface [1] - Strong performance in the U.S. job market is counterbalancing global trade tensions, while the OECD's latest warnings introduce new variables into the market [1] - Upcoming key data releases, particularly the ADP employment data and the non-farm payroll report, are expected to provide insights into Federal Reserve policy direction, which will influence gold market investment logic [1] Group 2: Technical Analysis of Gold - Gold is anticipated to enter a period of volatility, with short-term resistance at $3380 and support at $3345, indicating a potential range-bound trading environment [3] - The 30-minute moving average is showing signs of a downward trend, suggesting a possible adjustment if a bearish crossover occurs [3] - The trading strategy recommends focusing on buying on dips while considering selling on rebounds, with key levels to watch being $3380-$3390 for resistance and $3345-$3335 for support [3] Group 3: Oil Market Analysis - International oil prices have slightly declined due to a more balanced supply-demand scenario and concerns over the global economic outlook, with Brent crude at $65.58 per barrel and WTI at $63.32 per barrel [4] - Recent price drops follow a two-week high, influenced by factors such as wildfires in Canada disrupting oil production and geopolitical tensions affecting supply [4] - The oil market is currently influenced by competing forces, including geopolitical risks and OPEC+ production increases, leading to a potential high-level consolidation until clearer policy directions emerge [4] Group 4: Technical Analysis of Oil - The mid-term trend for oil prices is downward, with a potential test of the $50 mark after forming a bearish flag pattern [5] - Short-term movements are characterized by fluctuations around the moving average system, indicating a likely upward trend in the near term [5] - The trading strategy suggests focusing on buying on dips while considering selling on rebounds, with resistance levels at $64.5-$65.0 and support levels at $62.0-$61.5 [5]