Economic Data Summary - In the first four months of 2025, the revenue of industrial enterprises above designated size in national high-tech zones reached 10.26 trillion yuan, marking a year-on-year increase of 7.3% [3] - The innovation-driven and industrial agglomeration effects continue to be released [3] Industry Development - The Zhongguancun new generation information technology industry has entered the trillion-level industry cluster [5] - The scale of the optical electronics information industry in Wuhan East Lake accounts for 50% of the national total [5] - National high-tech zones have laid out cutting-edge fields such as quantum information, humanoid robots, and next-generation internet, forming initial development advantages in related future industries [5] Urban Renewal and Infrastructure - The renovation of old urban residential areas has accelerated, with plans to start the renovation of 25,000 old urban residential areas nationwide in 2025 [8] - In the first four months of 2025, 5,679 old urban residential areas were newly started for renovation, with six provinces and cities having a startup rate exceeding 50% [10] - Central finance will provide subsidies to 20 cities for urban renewal actions, with each city receiving no more than 1.2 billion yuan [13] Commodity Price Index - In May, China's commodity price index rose slightly by 0.3% month-on-month, reaching 110.3 points [16] - Among 50 monitored commodities, 17 saw price increases in May [16] - The non-ferrous price index rose by 0.9%, while the chemical price index rebounded by 0.5% [17] International Air Cargo - Since the beginning of 2025, over 100 new international air cargo routes have been opened, with a focus on Asia and Europe [21][23] - The cargo structure mainly consists of electronic products, auto parts, machinery, and fresh goods [23] - In May alone, 26 new international air cargo routes were opened, with a cumulative total of 101 routes in the first five months of 2025 [24]

金十数据整理：每日全球大宗商品市场要闻速递（6月4日） 能源： 1. 美伊核谈判细节披露：美提议临时允许伊朗继续铀浓缩活动。 2. 调查显示，欧佩克5月份原油产量增加了20万桶/日，达到2754万桶/日。 4. 俄罗斯天然气工业股份公司悄然搁置了在土耳其开发一个新的天然气分销枢纽的计划，放弃通过土耳 其重返欧洲天然气市场的想法。 5. 越南高温天气持续推高用电需求至历史高位，政府指示加快新电厂投运和电网接入工作以保障电力供 应。 其他： 1. 日本首相承诺成立稳定大米供应部长级委员会。 2. 消息人士：美加贸易协议可能在下周G7峰会前达成。 3. 乌克兰农业部长：2025年乌克兰粮食收成可能下降10%至约5100万吨。 3. 哈萨克斯坦国家石油运输商KazTransOil：5月份通过友谊管道向德国供应了23万吨原油。 4. 泰国联合企业集团预计2025年泰国出口增长0.3%-0.5%，此前预期为增长0.3%-0.9%。 ...

Group 1 - The article highlights various upcoming Bloomberg seminars and workshops scheduled for June 2025, focusing on different financial markets and tools [2][4][5][6][10]. - It emphasizes the importance of understanding the Bloomberg Terminal for analyzing bonds, foreign exchange, stocks, commodities, and derivatives [8]. - Specific sessions are dedicated to equity analysis, fixed income liquidity analysis, and the impact of tariffs on various sectors, including technology stocks [9][11]. Group 2 - The article provides a detailed schedule of events, including dates and times for each seminar, indicating a structured approach to financial education [3][7][10]. - It mentions the introduction of new data updates and application scenarios for global stock models and China's onshore fixed income market [9][10]. - The seminars aim to equip participants with essential tools and insights for effective market analysis and investment strategies [8][11].

Core Viewpoint - The global commodity market will continue to experience significant volatility into 2025, driven by policy dynamics and supply-demand imbalances, with U.S. policy movements being the largest variable affecting the market [1]. Oil Market - Oil prices are expected to gradually find a bottom, having fallen from $85 per barrel in January to $60 per barrel currently, exceeding previous expectations [1]. - The increase in oil supply in 2021 and 2022, coupled with a mismatch in supply and demand, has led to a sustained decline in oil prices [1]. - The U.S. government's aim to lower inflation by reducing oil prices and increasing energy production has been highlighted as a significant factor [2]. Demand Dynamics - Global oil demand remains strong, with a noted decline in U.S. demand, particularly in air travel, which decreased by approximately 2% from April to May [2]. - Despite the weakening demand in the U.S., international travel demand, especially from Europe, has reached new highs [2]. Geopolitical Factors - The geopolitical situation in the Middle East is stabilizing, with countries like Saudi Arabia and the UAE diversifying their economies to reduce reliance on energy revenues [2]. - Investments in tourism, fintech, and logistics are becoming focal points for these regions, decreasing the likelihood of escalating regional conflicts [2]. Gold Market - Gold prices are projected to enter a long-term bull market, driven by central bank purchases and safe-haven demand [3]. - Central banks have significantly increased gold purchases, from 400 tons annually to 800 tons in 2022 and 1000 tons in 2023, with expectations of continued high demand [3][4]. - The emergence of new investors, particularly overseas holders of U.S. financial assets, is contributing to increased gold purchases, with a potential 0.5% shift of their $57 trillion in assets into gold leading to an additional 500 tons of demand annually [4]. Metal Market - The metal market, particularly copper, is facing challenges due to high prices and potential trade tensions, with copper currently priced at $9,500 per ton [4]. - The metal market is expected to be significantly impacted by U.S. policy changes, contrasting with the more stable outlook for oil prices [4].

Energy - Kuwait and Saudi Arabia announced the discovery of oil in the neutral zone [1] - Russia extended its gas supply agreement with Serbia until the end of September [1] - South Africa proposed to purchase liquefied natural gas from the United States over the next 10 years as part of a trade agreement [1] - Iran set the price for light crude oil sold to Asian markets in June at a premium of $1.80 per barrel over the Oman/Dubai average [1] - Malaysia, Singapore, and Vietnam signed a renewable electricity export agreement, involving Vietnam exporting renewable energy to Malaysia and Singapore [1] - Indonesia's energy ministry stated that a new electricity supply plan requires approximately $183 billion in investment, with plans to build 47,758 kilometers of transmission lines by 2034 and to start operations of its first nuclear power plant by 2032 [1] - Goldman Sachs projected that oil production growth from non-OPEC shale projects, excluding Russia, could accelerate to 1 million barrels per day over the next two years, while new gas projects in Saudi Arabia and Qatar may increase OPEC's liquefied natural gas production by an average of 200,000 barrels per day [1] - A potential decline in oil prices between 2025-2026 could lead to an earlier peak and reduction in U.S. shale oil production [1] Precious Metals and Mining - Switzerland's gold exports decreased by 34% to 104 tons in April [2] - Mexico's gold production totaled 6,224 kilograms in March, with copper production at 43,394 tons and silver production at 351,667 kilograms [2] - Hong Kong's government reported that gold exports to mainland China in April amounted to 58.61 tons, up from 21.071 tons previously, with net gold exports to mainland China at 43.462 tons, compared to -4.889 tons previously [2]

鉴于再次大幅增产的风险，OPEC+会议显然也是个焦点。 盛宝银行大宗商品策略主管Ole Hansen：美国总统特朗普推迟对欧盟关税，大宗商品市场对此作出的反 应与预期一致。 ...

7. 联合石油数据库JODI：沙特国内炼油厂3月原油加工量增加32.3万桶/日，至294.4万桶/日。沙特3月原 油产量环比增加1万桶/日，至895.7万桶/日。沙特3月石油产品需求增加22.3万桶/日，至221.8万桶/日。 沙特3月石油产品出口量增加14.5万桶/日，至155.3万桶/日。 1. 欧佩克+讨论7月再次增产41.1万桶/日。 2. 芝商所拟设香港仓库，增强亚洲市场布局。 3. 市场消息：利比亚燃料进口欠款累计达10亿美元。 4. 伊拉克石油部长：希望油价在今年下半年回升。对库尔德地区签署的能源协议持保留意见。 6. 南非财政部提议将汽油燃油税从27.6%提高至29.9%，柴油燃油税从30%提高至33%。 金十数据整理：每日全球大宗商品市场要闻速递（5月22日） 5. 英国首相斯塔默：政府希望扩大冬季燃料补助的资格范围。政府将在财政预算中考虑冬季燃料门槛问 题。 ...

Group 1 - The London Metal Exchange (LME) plans to set position limits to curb excessive holdings [1] - Emirates Global Aluminium is advancing plans to build its first new primary aluminium production plant in the United States [1] - Goldman Sachs maintains a cautious outlook on oil prices, citing potential pressure from increased Iranian supply [1] Group 2 - Iranian Foreign Minister states that uranium enrichment activities will continue regardless of any agreements reached [1] - The Iranian President warns Western countries of the consequences of interrupting oil supplies, suggesting they would face paralysis [1] - Turkey has discovered natural gas in the Black Sea valued at $30 billion [1] Group 3 - The CEO of Abu Dhabi National Oil Company indicates that the UAE and the US plan to invest $440 billion in the energy sector by 2035 [1] - According to trade sources, Angola is set to load 33 oil tankers in July, down from 34 in June [1]

金十数据整理：每日全球大宗商品市场要闻速递（5月16日） 能源： 1. 国际能源署将2025年平均石油需求增长预测上调2万桶/日至74万桶/日；将2025年全球供应增长预期 上调38万桶/日至160万桶/日。 2. 伊朗高级官员：伊朗尚未收到任何关于解决核争端未决分歧的美国最新提议。只有美国"可验证且有 效地"解除制裁，伊朗才会将高浓缩铀运往国外。 6. 美国至5月9日当周EIA天然气库存变化值录得1100亿立方英尺，为2023年5月26日当周以来最大增 幅。 7. 美国白宫：埃克森美孚石油、西方石油和EOG资源公司正与阿布扎比国家石油公司合作，推动价值 600亿美元的油气产能扩展项目。 3. 据路透计算，俄罗斯五月石油和天然气收入预计同比下降三分之一，降至0.52万亿卢布。 4. 美国总统特朗普将对数十亿美元的能源拨款进行新一轮审计。 5. 印度将评估美国提出的取消乙醇进口限制的要求。 贵金属和矿业： 1. 卢旺达央行考虑购买黄金作为储备资产。 2. 摩根大通：比特币将在今年余下时间里跑赢黄金。 3. 南非统计局：南非3月份黄金产量同比下降11.1%，3月份矿业总产出同比下降2.8%。 其他： 1. 土美乌 ...

Market Overview - U.S. stocks traded lower, with the Dow Jones index falling more than 150 points, down 0.39% to 41,888.10, NASDAQ down 0.83% to 18,987.25, and S&P 500 down 0.44% to 5,866.61 [1] - Utilities shares increased by 1.2%, while health care stocks decreased by 1.4% [1] Walmart Earnings - Walmart Inc. reported first-quarter FY26 sales growth of 2.5% year-on-year to $165.60 billion, slightly missing the analyst consensus estimate of $165.88 billion [2] - The retailer's adjusted EPS was 61 cents, surpassing the consensus estimate of 58 cents [2] Walmart Outlook - For fiscal year 2026, Walmart reaffirmed an adjusted EPS outlook of $2.50 – $2.60, compared to the $2.61 estimate, and sales guidance of $694.70 billion – $701.50 billion, versus the street view of $705.30 billion [3] Commodity Market - Oil prices fell by 2.3% to $61.73, while gold prices increased by 0.2% to $3,195.80 [6] - Silver prices decreased by 0.2% to $32.375, and copper fell by 0.4% to $4.6300 [6] Asian Market Performance - Asian markets closed mostly lower, with Japan's Nikkei down 0.98%, Hong Kong's Hang Seng Index down 0.79%, and China's Shanghai Composite Index down 0.68% [8] - Click Holdings Limited shares surged 270% to $1.0100 after announcing a cooperation agreement [8] - Graphjet Technology shares increased by 97% to $0.1913 following a significant stake disclosure by its Co-Founder [8] - Foot Locker, Inc. shares rose 83% to $23.52 after DICK's Sporting Goods agreed to acquire the company [8] - Healthcare Triangle, Inc. shares dropped 82% to $0.0402, and NanoVibronix, Inc. shares fell 63% to $1.4299 after announcing a public offering [8] - REE Automotive Ltd. shares decreased by 54% to $1.52 following fourth-quarter financial results and a pause in production plans [8] Economic Indicators - U.S. industrial production remained little changed in April, against market estimates of a 0.2% rise [12] - The Philadelphia Fed Manufacturing Index increased by 22 points to -4.0 in May, while the NY Empire State Manufacturing Index declined to -9.2 [12] - Initial jobless claims remained unchanged at 229,000 for the week ending May 10 [12] - U.S. retail sales increased by 0.1% month-over-month in April, compared to a revised 1.7% gain in March [12] - U.S. producer prices declined by 0.5% in April, against market estimates of a 0.2% gain [12]