本篇评级为★★★，主要围绕以下内容展开： 1、中美谈判口风偏暖，两三周或集中释放"小利好" 这里面包括美国和墨西哥、加拿大之间的谈判，以及和日本、印度之间的协议能否部分落地。这也能在 投资市场中形成一定的安抚。中国方面，我们也看到并没有把所有精力都放在和美国的谈判上。在推进 和美国谈判的同时，中国也在其他方向上努力。昨天我们也跟大家聊到，中国和欧盟之间的谈判在一些 关键条款协议上也基本快到尾声了，应该会有一些阶段性结果出来。所以这也是在路上的一些信息。全 球资本市场都在这种小利好和口风转暖的过程中进一步恢复。 本文为妙投付费内容，上述仅为摘要，购买本专栏即可解锁完整内容。新用户可免费领本专栏7天阅读 体验机会，在妙投APP-我的-权益兑换 输入"妙投888"即可领取。 1、中美谈判口风偏暖，两三周或集中释放"小利好" 今天国内市场仍在暖风中，继续小步向上。万众瞩目的关键推动因素是中美之间的谈判。今天第二轮谈 判已经正式结束。虽然双方没有具体说明有哪些条款已经可以落地形成利好，但口风都是偏暖的。对外 统一口径是说落地了一个谈判框架。这可以理解，因为任何两个大国之间的这种量级谈判难度都非常 高，谈判范围也极其广泛 ...

6月11日消息，据报道，欧盟据悉致力于将与美国的贸易谈判延长至特朗普设定的7月最后期限之后。 ...

金十数据6月11日讯，欧盟方面认为，与美国的贸易谈判将延长至特朗普设定的7月9日最后期限之后， 尽管过去一周谈判速度有所加快。知情人士表示，欧盟认为最好的情况是在7月9日之前就协议的原则达 成协议，这将让双方能够进一步谈判，敲定细节。预计美国将在未来几天对最新一轮谈判作出回应，并 明确下一步行动。 欧盟希望贸易谈判延长至特朗普设定的7月最后期限之后 ...

智通财经6月11日电，欧盟的目标是在特朗普设定的7月最后期限之后延长与美国的贸易谈判。 ...

交易提示 交易咨询：0571-85165192，85058093 2025 年 6 月 11 日星期三 交易提示 | | | | 看到，美方代表团主要成员包括美国财政部长贝森特、美国贸易代表格里 | | --- | --- | --- | --- | | | 中证 500 | 上行 | 尔和美国商务部长卢特尼克。贝森特负责宏观经济和金融问题，是特朗普 | | | | | 政府关税战略执行的关键人物。格里尔主要管辖范围就是关税，更像是美 | | | | | 方处理各类贸易谈判的"专业谈判官"。新加入的卢特尼克相对更聚焦于 | | | | | 产业层面，比如各行业的出口、进口、市场准入等问题。国新办举办新闻 | | | 中证 1000 | 上行 | 发布会，国家发改委等六部门介绍进一步保障和改善民生有关政策情况。 | | | | | 预计今年支持社会事业的中央预算内投资规模将比"十三五"末提高 30% | | | | | 以上；统筹用好中央预算内投资和超长期特别国债，支持高校持续改善办 | | | | | 学条件；积极推进低保等社会救助政策扩围增效，研究制定加快发展服务 | | | 2 年期国债 | 震荡 | 类 ...

Report Industry Investment Ratings - Not available Core Views - The global economic slowdown and supply - demand imbalances are putting pressure on various commodity markets, with different commodities showing different trends based on their specific supply - demand fundamentals and external factors such as trade negotiations and policy changes [2][3][5] Summary by Commodity Crude Oil - The World Bank cut the 2025 global economic growth forecast to 2.3%, 0.4% lower than the previous prediction, suppressing oil price increases. EIA raised the 2025 crude market surplus expectation. Overall, supply surplus is pressuring the crude market. Consider short - selling when prices are relatively high. Monitor the progress of US - Iran, Russia - Ukraine, and China - US negotiations [2] 焦炭 - On June 10, the coke market price was weak. After the price cut, coke producers' profits are near the break - even point, and there is still room for price decline. Steel mills may initiate a fourth round of price cuts. It is recommended to sell on rebounds [3] Treasury Bonds - On June 11, yields of major inter - bank interest - rate bonds rose slightly at the opening. The bond market may face downward pressure at the opening. With economic downward pressure and the need for counter - cyclical adjustment, the bond market has some support. Adopt a mid - term wide - range oscillatory and slightly bullish approach [5] Rebar - On June 10, domestic steel market prices continued to decline. Steel demand in the off - season remains weak, and both supply and demand in the steel market are weak. Steel prices may continue to oscillate weakly in a narrow range [5] Silver - The progress of China - US trade consultations affects market pricing of US inflation and future interest - rate cut expectations. If the negotiations go well, silver's upward momentum may strengthen. Wait for pull - backs to go long [6] Iron Ore - From June 2nd to 8th, global iron ore shipments increased. The iron ore market is weakly stable. With weak demand from steel mills in the off - season and increasing supply, ore prices are under pressure. However, the deep discount of futures prices provides some support. Ore prices are expected to oscillate at low levels [7] Rubber - Thai raw material prices are rising, and Hainan's rubber collection volume has increased. The natural rubber market has rebounded with commodities due to macro factors. Supply is expected to increase, and demand shows no signs of improvement. The market is expected to oscillate and consolidate [8] Gold - As trade negotiations progress, risk - aversion sentiment has weakened. Market focus has shifted to the US economy and future interest - rate cut expectations. Gold and silver may show a divergent trend. Adopt a mid - term high - level oscillatory and slightly bullish approach for gold [10] PTA - PTA supply is expected to increase with new device startups. Polyester's operating load may decline in June. PTA's supply - demand outlook is weakening. PX supply is increasing, but PXN is expected to remain strong. Adopt a high - level short - selling strategy for PTA [10] Live Pigs - Pig prices are rising steadily in some northern regions. Some breeding enterprises are reducing supply to support prices, and second - fattening enthusiasm has increased slightly. Suggest 09 - 01 contract reverse spreads or short - term long positions in the 01 contract. Farmers can sell hedging according to their sales schedules [11] Palm Oil - Malaysia's MPOB report is neutral. Domestic palm oil inventory is increasing, and the price is expected to oscillate within a range. Monitor international biodiesel policies, high - frequency supply - demand data, and domestic inventory changes [11] Soybeans - Brazil's soybean production and related data forecasts remain unchanged. Domestic soybeans are quiet, and prices are expected to oscillate slightly upward. Hold long positions [12] Methanol - The methanol market in the interior is strong, and the port market's basis is strengthening. With stable coal prices, high domestic methanol operating rates, and increasing downstream demand, the port may continue to accumulate inventory. The methanol 09 contract is expected to oscillate in the short term. It is recommended to wait and see or short on rebounds [13] Soda Ash - The domestic soda ash market is weakly stable. Supply remains high, and downstream demand is tepid. The soda ash 09 contract is expected to oscillate in the short term. It is recommended to wait and see or short on a short - term basis [14] PVC - PVC supply remains high, and profits are poor. Cost support is strengthening, and demand is stable. The domestic PVC market price is expected to oscillate in a small range. It is recommended to wait and see [15]

Group 1 - The core viewpoint of the articles highlights the ongoing trade negotiations between the US and China, which are seen as a crucial step towards rebuilding trust and addressing trade issues [1][2][3] - The US Commerce Secretary, Lutnick, emphasized the importance of export control topics in the negotiations, indicating potential changes to recent restrictions on various sectors, including semiconductor design software and nuclear materials [2] - The recent trade talks have positively impacted emerging market stock indices, reaching their highest levels since 2022, driven by reduced uncertainty from tariffs and other economic factors [3] Group 2 - The negotiations are taking place in London, with both US and Chinese delegations led by high-ranking officials, indicating the significance of these discussions [1] - Despite the positive sentiment surrounding the negotiations, analysts caution that any market rebound may not be sustainable without concrete outcomes from the talks [3] - The discussions are part of a broader context of fluctuating US-China relations, which have seen periods of tension and mutual accusations since the last formal talks in Geneva [2]

Core Viewpoint - LME copper prices are declining, reflecting cautious market sentiment influenced by trade negotiations and the investigation into U.S. copper import tariffs [1] Group 1 - LME copper prices have experienced a downturn, indicating a shift in market dynamics [1] - Market sentiment remains cautious as stakeholders await developments in trade negotiations [1] - The ongoing investigation into U.S. copper import tariffs is contributing to uncertainty in copper pricing [1]

特朗普（资料图） 据红星新闻报道，近日，美国政府一边施压贸易伙伴，要求其提交贸易谈判的最佳方案，一边继续挥舞关税大棒，将钢铝产品关税翻倍。与此同时，经合组 织年内第二次下调美国今年经济增长预期，并指出美国相关政策剧烈变化导致包括美国在内多个经济体增长预期下调。经合组织首席经济学家佩雷拉表示， 美国关税政策给全球贸易带来不确定性，严重冲击世界经济。佩雷拉说，当前全球经济贸易政策面临前所未有的重大不确定性，这对各项经济指标产生深远 影响。 特朗普（资料图） 根据路透社曝光的信函草案，特朗普政府要求各谈判国在4日0时提交各国最优核心提案。要求降低对美国工业品、农产品的关税壁垒，扩大采购配额；并承 诺数据跨境流动、禁止强制技术转让；取消针对美企的歧视性法规；经济安全合作方面，要在供应链、关键技术领域对美"表忠心"。若未按时提交，美国将 单方面评估并抛出"对等关税"方案——即直接匹配各国对美商品的现行税率，最高可达100%。特朗普为何如此急迫的向各国施压？ 其实主要原因还是有中国，截至目前，中美关税博弈的变数仍然很大。一方面，美国对华关税豁免至8月30日。美国的这一退让被视为是"以退为进"。另一 方面，中国在整场博弈的 ...

随着美国特朗普政府所谓"对等关税"的90天暂停期将于7月9日到期，美国政府官员担忧，该关税面临的 司法裁决会扰乱与其他经济体的谈判进程。 当地时间6月9日，美国司法部向美国联邦巡回上诉法院提交了一份长达18页的文件，请求延长对下级法 院裁定的暂缓执行期限。文件警告，如果不这样做可能会威胁"敏感贸易谈判"，甚至对美国经济造 成"灾难性冲击"。 这场法律纠纷源于5月28日美国国际贸易法院的一项历史性裁决。该法院认为《国际紧急经济权力法》 （IEEPA）并未授予美国总统无限制的关税制定权限，与此相关的全球关税、报复性关税以及芬太尼关 税应当被废止。 美国投资研究机构NDR美国行业策略师安德森（Rob Anderson）对第一财经记者表示，国际贸易法院的 裁决并未完全消除关税问题，市场波动可能会持续。面对当前的司法挑战，特朗普政府仍可能会通过其 他法律途径或杠杆推动关税实施，长期不确定性依然存在。 安德森提醒说，当前经济数据好坏参半，"从某些指标看，美国经济仍存在一些隐忧，情况可能会恶 化"。 特朗普政府担心裁决不利于谈判 今年4月，由小型企业联盟和多个民主党主政州组成的原告团体，将特朗普政府的关税政策诉至美国国 际 ...