2025.06.03-06.06 豆粕、豆油 期货品种周报 01 P A R T 豆粕期货 Contents 01 中线行情分析 02 品种交易策略 03 相关数据情况 目录 n 上周策略回顾 豆粕期价整体趋势横盘阶段,资金方面较为偏多。短期内 M2509预计宽幅震荡整理，运行区间：2850-3000，可考虑区 间操作。 中线趋势来看，豆粕主力处于宽幅震荡的阶段。 中线趋势判断 1 趋势判断逻辑 据Mysteel数据：第21周油厂大豆实际压榨量量220.93万吨，开机率为 62.1%；大豆库存560.63万吨，较上周减少26.20万吨，减幅4.46%；豆粕 库存20.69万吨，较上周增加8.52万吨，增幅70.01%。进口大豆集中到港， 油厂开机率快速攀升，压榨量维持高位，豆粕库存累积速度加快。终端 饲料企业多执行前期基差合同，随用随采的谨慎策略抑制现货成交。巴 西大豆出口销售压力缓解带动贴水企稳，叠加美豆生长季潜在的天气变 化及全球贸易的不确定性。综合来看豆粕期价处于宽幅震荡整理阶段。 2 建议观望。 3 中线策略建议 中线行情分析 品种交易策略 n 本周策略建议 豆粕期价整体趋势横盘阶段,资金方面略微偏空 ...

Morning session notice 更多精彩内容请关注格林大华期货官方微信 格林大华期货研究院 证监许可【2011】1288 号 2025 年 6 月 3 日星期二 研究员： 吴志桥 从业资格：F3085283 交易咨询资格：Z0019267 联系方式：15000295386 | 板块 | 品种 | 多（空） | 推荐理由 | | --- | --- | --- | --- | | | | | 【行情复盘】 周五尿素主力合约 2509 期价下跌 18 元至 1773 元/吨，华中主流地区尿素现货价格 下跌 10 元至 1850 元/吨，多头持仓增加 10651 手至 18.36 万手，空头持仓增加 7278 手至 17.18 万手。 【重要资讯】 1、供应方面，尿素行业日产 20.46 万吨，较上一工作日减少 0.02 万吨，较去年同 | | | | | 期增加 3.12 万吨；开工 88.96%，较去年同期 80.07%提升 8.89%。 | | | | | 2、库存方面，中国尿素企业总库存量 98.06 万吨，较上周增加 6.32 万吨，环比增 | | | | 加 | 6.89%。尿素港口库存 ...

一个做了十年期货的大客户感慨期货之难：期货博大精深，我押上全部身家，做了十年期货，反复试错，也未能真正窥得期货的本质。一个字：难！ 01 无知妄为 期货投机遭遇悲剧的最大根源在于交易者本身：无知妄为，知行不一，不能与时势俱进退。对市场的运行规律缺乏深刻的认识，就难以有可行的交易方 法。对期货市场所谓风险大的本质缺乏认识，就难以有效地进行风险管理。许多人对杠杆交易原理缺乏认识，保证金交易放大收益的同时也放大了风险， 轻仓则是降低期货投机风险的有效手段。 有些人拿100万元资金来做期货，以为50%仓位不算啥，其实30%的仓位风险就已经不低了。假设股指期货的保证金率为10%，50万的股指期货市值相当于 500万市值的股票。10%的仓位（10万期货保证金）相当于100万的股票持仓。 《菜根谭》说："波浪兼天，舟中人不惧，而舟外者寒心。"看到一些投机者总恨仓位不够大的无知妄为，我时常有如是感觉。 02 悟道难 "悟则满目青山，不悟则愁云蔽日。"想悟得期货投机之道与术并非易事。一个老期货在退出期货市场时跟我感慨："以前做不好交易一直觉得是自己书看 得少，功力不够，但十几年后在你学习研读了大量书籍后，你仍然还是做不好，那你 ...

原木期货日报 证监许可 【2011】1292号 2025年5月30日 曹剑兰 Z00J9556 | 期货和现货价格 | | | | | | | --- | --- | --- | --- | --- | --- | | 品种 | 5月29日 | 5月28日 | 张跌 | 涨跌幅 | 单位 | | 原木2507 | 766.0 | 758.0 | 8.0 | 1.06% | | | 原木2509 | 789.0 | 784.0 | 5.0 | 0.64% | | | 原木2511 | 792.5 | 789.0 | 3.5 | 0.44% | | | 7-9价差 | -23.0 | -26.0 | 3.0 | | | | 9-11价差 | -3.5 | -5.0 | 1.5 | | | | 7-11价差 | -26.5 | -31.0 | 4.5 | | | | 07合约基差 | -16.0 | -8.0 | -8.0 | | | | 09合约基本 | -39.0 | -34.0 | -5.0 | | | | 11合约基差 | -42.5 | -39.0 | -3.5 | | 元/立方米 | | 日照港3.9A ...

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints - The market for various commodities shows different trends and characteristics, with each commodity facing unique supply - demand situations, and corresponding trading strategies are proposed based on these fundamentals [1][4][5]. 3. Summary by Commodity Categories Basic Metals - **Copper**: The price is in a range - bound oscillation. The Trump administration's tariff appeal, a weaker dollar, and low risk appetite put pressure on base metals. Social inventory decreased weekly, and downstream stocking was limited. It is expected to continue range - bound in the short term [1]. - **Aluminum**: The electrolytic aluminum 2507 contract price rose 0.52% to 20,185 yuan/ton. Supply is at a high level with increasing operating capacity, while demand is slowing with a slight decline in the aluminum product start - up rate. The continuous inventory reduction supports the price, and it is expected to oscillate [1]. - **Alumina**: The 2509 contract price fell 0.90% to 2,964 yuan/ton. Supply is increasing due to the resumption of some plants and new capacity release, and demand from electrolytic aluminum plants is also rising. The expected supply surplus suppresses futures prices, but there is uncertainty in Guinea's mining policy [1]. - **Zinc**: The 2506 contract price rose 1.24% to 22,780 yuan/ton. Social inventory decreased. The supply is relatively loose with high raw material inventory in smelters and the resumption of some smelters. Apparent consumption shows resilience. The price is expected to oscillate in the short term [1]. - **Lead**: The 2506 contract price rose 0.09% to 16,715 yuan/ton. The supply of recycled lead increases with new capacity and production resumption, while demand from lead - acid battery markets is weak. The price is expected to oscillate in a small range [1][2]. - **Tin**: The price continued to weaken. The Trump administration's tariff appeal and concerns about increased supply from Myanmar's resumption of production led to a bearish market. The price is expected to oscillate weakly [2]. Industrial Metals - **Industrial Silicon**: The price hit a new low. Supply did not contract significantly, and there was a high inventory. Demand from the polysilicon industry may decline in May. The price is expected to oscillate between 7,000 - 8,000 yuan, and it is recommended to wait and see [2]. - **Carbonate Lithium**: The 2507 contract price fell 2.52%. Supply increased with a weekly output of 16,580 tons (up 3.03% week - on - week). Demand growth was slow, and inventory was high with a slight decrease. It is recommended to hold short positions or short sell far - month contracts [2]. - **Polycrystalline Silicon**: The price showed a differentiated performance. Supply was relatively stable in the short term, and inventory decreased but remained high. Demand in the component segment was weak. After the 06 contract delivery month, consider short - selling the 07 contract on rebounds [2]. Black Industry - **Rebar**: The 2510 contract price rose. Steel demand increased marginally, and production decreased. It is recommended to close long positions and consider short - selling for aggressive investors [4]. - **Iron Ore**: The 2509 contract price rose. Port inventory decreased, and iron - water production decreased slightly. Supply was in line with the seasonal pattern, and the medium - term supply surplus remained. It is recommended to wait and see [4]. - **Coking Coal**: The 2509 contract price fell. Iron - water production decreased slightly, and the first - round price cut was implemented, with a second - round cut proposed. Supply was relatively loose. It is recommended to wait and see [4]. Agricultural Products - **Soybean Meal**: The CBOT soybeans rose slightly. Supply is loose in the near - term from South America and the sowing of new US soybeans is accelerating. Demand is seasonally weak. US soybeans are expected to oscillate, and the domestic market will follow the international market [5]. - **Corn**: The 2507 contract price rebounded slightly. The supply - demand situation is tightening marginally this year. The price is expected to oscillate and strengthen due to wheat price support [5]. - **Sugar**: The Zhengzhou sugar 09 contract price fell 0.21%. The global sugar market is expected to have a supply surplus in the 25/26 season. The domestic market is affected by import and inventory conditions. The price trend follows the raw sugar market and is expected to be bearish [5][6]. - **Cotton**: The US cotton price fell, and the domestic Zhengzhou cotton price oscillated downward. Yarn prices are weak, and it is recommended to sell on rallies and adopt a range - bound strategy [6]. - **Palm Oil**: The price rebounded. Supply is in the seasonal increase period, and demand for exports has improved. The price is expected to be in a weak but not smooth phase [6]. - **Eggs**: The 2506 contract price oscillated narrowly. Supply is high, and demand is weak. The price is expected to oscillate [6]. - **Hogs**: The 2509 contract price rebounded after hitting a low. Supply is increasing, and demand is weak due to high temperatures. It is recommended to pay attention to the reverse - spread strategy [6]. - **Apples**: The price is at a high - level oscillation. New - season production is affected by extreme weather, and there are concerns about yield. It is recommended to wait and see [6]. Energy and Chemicals - **LLDPE**: The price rebounded slightly. Supply is increasing with new device production and the resumption of maintenance devices, and demand is in the off - season for agricultural films. It is expected to oscillate weakly in the short term and be short - sold in the long term [8]. - **PVC**: The V09 contract price fell 0.6%. Supply is expected to increase with new device production and some maintenance. Inventory is decreasing, and demand for exports has slowed. It is recommended to close short positions and sell out - of - the - money call options [8]. - **Rubber**: The 2509 contract price fell 1.35%. Raw material prices are falling, and the market is weak. It is recommended to close short positions gradually and consider an arbitrage strategy [8]. - **Glass**: The FG09 contract price fell 3%. Supply is expected to increase, and inventory is high. It is recommended to sell out - of - the - money call options [8]. - **PP**: The price oscillated slightly. Supply is increasing with the resumption of maintenance and new device production, and demand is expected to improve. It is expected to oscillate weakly in the short term and be short - sold in the long term [8][9]. - **Crude Oil**: The price fluctuated. The Trump administration's tariff appeal and Kazakhstan's non - reduction stance increased supply concerns. The price is affected by the US - Iran negotiation and OPEC meeting [9]. - **Styrene**: The price rebounded slightly. Supply is expected to increase with inventory accumulation, and demand is affected by downstream profit and inventory. It is expected to oscillate in the short term and be short - sold in the medium term [9]. - **Soda Ash**: The SA09 contract price fell 1.5%. Supply and demand are both weak, and inventory is high. It is recommended to sell out - of - the - money call options [9]. - **Caustic Soda**: The sh09 contract price rose 1.2%. Some manufacturers' inventory is tight, and the price is rising. It is expected to stop falling and stabilize [9].

交易咨询业务资格：证监许可【2012】1091号 沪锌期货早报-2025年5月30日 大越期货投资咨询部 祝森林 从业资格证号：F3023048 投资咨询证号： Z0013626 联系方式：0575-85225791 重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投 资建议。 我司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投资需谨慎。 指标体系 沪锌: 1、基本面：外媒5月21日消息:世界金属统计局( WBMS )公布的最新数据报 告显示, 2025年3月，全球锌板产量为108.74万吨,消费量为113.35万吨， 供应短缺4.6万吨。1-3月,全球锌板产量为328.31万吨,消费量为338.48万 吨,供应短缺10.16万吨。3月,全球锌矿产量为100.78万吨。1-3月，全球锌 矿产量为296.11万吨；偏多。 2、基差：现货22910，基差+415；偏多。 3、库存：5月29日LME锌库存较上日减少2075吨至141375吨，5月29日上期 所锌库存仓单较上日减少99吨至1675吨；偏多。 4、盘面：昨日沪锌震荡上涨走势，收20日均线之 ...

智通财经5月29日电，集运欧线期货主力合约日内涨幅扩大至8%，报2168点。 集运欧线期货主力合约日内涨幅扩大至8% ...

Core Viewpoint - The main futures contract for European shipping surged rapidly, increasing by over 5% [1] Group 1 - The significant rise in the futures contract indicates a strong market sentiment towards European shipping [1] - This increase may reflect underlying demand dynamics or potential supply chain improvements in the industry [1]

1. Report Industry Investment Rating No industry investment rating information is provided in the reports. 2. Core Views - **Gold**: The logic of de - dollarization remains unchanged. Gold is recommended to be bought at an opportune time, and silver is advised to be shorted on rebounds or go long on the gold - silver ratio at an appropriate time [1]. - **Aluminum**: The cost of electrolytic aluminum has rebounded, and inventory continues to decline. The fundamentals support the aluminum price, which is expected to maintain a volatile trend. It is recommended to wait and see [2]. - **Alumina**: The situation at the Guinean mine end has eased, and the supply pressure has caused the futures price to fall. However, the Guinean mining policy is still highly uncertain. It is recommended to wait and see [3]. - **Zinc**: The long - short forces are deadlocked, and the zinc price is expected to fluctuate in the short term. Attention should be paid to macro - guidance and consumption sustainability [3]. - **Lead**: The contradiction between raw material supply and consumption intensifies, and the lead price is expected to fluctuate within a small range. Interval operation is recommended [3]. - **Industrial Silicon**: The downward driving force is limited, and the futures price is expected to fluctuate between 7000 - 8000 yuan. It is recommended to wait and see and pay attention to post - holiday supply changes [3]. - **Lithium Carbonate**: The near - month supply - demand surplus has eased, but the surplus pattern remains. It is recommended to hold short positions or short the far - month contracts on rallies [3][4]. - **Multi - Crystal Silicon**: After the 06 - contract delivery month, consider shorting the 07 - contract on rebounds. When the 06 - 07 spread breaks through the previous high, consider closing long - spread positions [4]. - **Rebar**: It is recommended to wait and see, and aggressive investors can try to go long on the rebar 2510 contract [5]. - **Iron Ore**: It is recommended to wait and see [5]. - **Coking Coal**: It is recommended to wait and see [5]. - **Soybean Meal**: US soybeans are expected to fluctuate, and the domestic soybean market will follow the international market in the medium term. Attention should be paid to trade policies and US soybean yields [7]. - **Corn**: The futures price is expected to gradually stabilize and rebound [7]. - **Sugar**: The market outlook is bearish [7]. - **Cotton**: An interval - oscillation strategy is recommended [7]. - **Palm Oil**: It is in a seasonally weak stage, but the decline is not smooth. Attention should be paid to production in the producing areas and biodiesel policies [7]. - **Eggs**: The futures price is expected to fluctuate [7]. - **Pigs**: The futures and spot prices are expected to fluctuate downward [7]. - **Apples**: It is recommended to wait and see [8]. - **LLDPE**: In the short term, it is expected to fluctuate weakly, and in the long term, short the far - month contracts on rallies [9]. - **PVC**: It is recommended to close short positions and wait and see, and sell call options above 4850 [9]. - **PTA**: Buy PX after a pull - back, and short the PTA processing margin on rallies [9]. - **Rubber**: It is recommended to close short positions in batches and wait and see, and consider a long - RU short - NR arbitrage [10]. - **PP**: In the short term, it is expected to fluctuate weakly, and in the long term, short the far - month contracts on rallies [10]. - **MEG**: The price is expected to be strong in the short term, but be cautious when going long [10]. - **Crude Oil**: The core of trading depends on the US - Iran negotiation and the OPEC meeting. If OPEC continues to increase production and the US and Iran reach an agreement, the oil price may fall further [10]. - **Styrene**: In the short term, the market will fluctuate, and in the medium term, short on rallies [10][11]. 3. Summary by Related Catalogs Gold Market - **Market Performance**: The international gold price denominated in London gold fell below $3300 per ounce [1]. - **News**: EU - US trade negotiations have optimistic sentiment, the "TACO" trading is popular, OPEC + will discuss production increase in July, and the Fed is more cautious about the economic outlook [1]. - **Economic Data**: US API crude oil inventory decreased by 4.236 million barrels in the week of May 23, and the Richmond Fed manufacturing index in May was - 9 [1]. - **Inventory Data**: Domestic gold ETF had a small outflow, COMEX gold inventory decreased by 0.02 tons, and some silver inventories changed [1]. - **Operation Suggestion**: Buy gold at an opportune time, short silver on rebounds or go long on the gold - silver ratio [1]. Basic Metals Aluminum - **Market Performance**: The closing price of the electrolytic aluminum 2507 contract increased by 0.72% to 20,185 yuan/ton [2]. - **Fundamentals**: Electrolytic aluminum plants maintain high - load production, with a slight increase in operating capacity, and the aluminum product start - up rate decreased slightly [2]. - **Trading Strategy**: The cost of electrolytic aluminum has rebounded, and inventory continues to decline, supporting the price. It is expected to be volatile [2]. Alumina - **Market Performance**: The closing price of the alumina 2509 contract decreased by 0.89% to 2991 yuan/ton [2]. - **Fundamentals**: Some alumina plants resumed production, and new production capacity was released, with a slight increase in operating capacity [2][3]. - **Trading Strategy**: The situation at the Guinean mine end has eased, and the supply pressure has caused the futures price to fall. The Guinean mining policy is uncertain [3]. Zinc - **Market Performance**: The closing price of the zinc 2506 contract decreased by 0.38% to 22,500 yuan/ton [3]. - **Fundamentals**: Zinc mining resources are relatively abundant, and the supply is relatively loose. The apparent consumption shows resilience [3]. - **Trading Strategy**: The long - short forces are deadlocked, and the zinc price is expected to fluctuate in the short term [3]. Lead - **Market Performance**: The closing price of the lead 2506 contract decreased by 0.62% to 16,700 yuan/ton [3]. - **Fundamentals**: The cost of recycled lead is strongly supported, the supply of primary lead is stable, and the lead consumption is weak [3]. - **Trading Strategy**: The lead price is expected to fluctuate within a small range, and interval operation is recommended [3]. Industrial Silicon - **Market Performance**: The main 07 contract closed at 7340 yuan/ton, down 100 yuan/ton [3]. - **Fundamentals**: The supply has not significantly shrunk, and the demand is weak. The market is pessimistic about continuous inventory reduction [3]. - **Operation Suggestion**: The futures price is expected to fluctuate between 7000 - 8000 yuan. Wait and see and pay attention to post - holiday supply [3]. Lithium Carbonate - **Market Performance**: The main 2507 contract closed at 60,380 yuan/ton, down 0.89% [3]. - **Fundamentals**: The supply is in surplus, the production decreased by 3.23% week - on - week, the demand growth is lower than expected, and the inventory is high with a slight reduction [3]. - **Trading Strategy**: The near - month surplus has eased, but the surplus pattern remains. Hold short positions or short far - month contracts on rallies [3][4]. Multi - Crystal Silicon - **Market Performance**: The main 07 contract closed at 35,100 yuan/ton, down 190 yuan/ton [4]. - **Fundamentals**: The supply is relatively stable, the inventory has decreased, and the demand in the downstream is weak [4]. - **Operation Suggestion**: After the 06 - contract delivery month, consider shorting the 07 - contract on rebounds, and close long - spread positions when the spread breaks through the previous high [4]. Black Industry Rebar - **Market Performance**: The main 2510 contract closed at 2957 yuan/ton, down 13 yuan/ton [5]. - **Fundamentals**: The apparent demand for building materials decreased, and the production increased slightly. The inventory reduction slowed down [5]. - **Trading Strategy**: Wait and see, and aggressive investors can try to go long on the 2510 contract [5]. Iron Ore - **Market Performance**: The main 2509 contract closed at 699.5 yuan/ton, up 3 yuan/ton [5]. - **Fundamentals**: The supply from Australia increased, and that from Brazil decreased. The supply - demand is neutral to strong in the short term, but the medium - term surplus pattern remains [5]. - **Trading Strategy**: Wait and see [5]. Coking Coal - **Market Performance**: The main 2509 contract closed at 765 yuan/ton, down 33 yuan/ton [5]. - **Fundamentals**: The iron - water production decreased slightly, the first round of price cuts has been implemented, and the overall supply - demand is relatively loose [5]. - **Trading Strategy**: Wait and see [5]. Agricultural Products Market Soybean Meal - **Market Performance**: CBOT soybeans fell overnight due to accelerated sowing [7]. - **Fundamentals**: The supply in South America is loose in the near term, and the US soybean sowing is going smoothly in the long term. The demand in South America is dominant in the short term, and the US soybean demand is seasonally weak [7]. - **Trading Strategy**: US soybeans will fluctuate, and the domestic market will follow the international market in the medium term [7]. Corn - **Market Performance**: The 2507 contract fluctuated narrowly, and the deep - processing corn price fell [7]. - **Fundamentals**: The supply - demand is tightening marginally, the substitution imports are expected to decrease, and the short - term supply - demand contradiction is not significant [7]. - **Trading Strategy**: The futures price is expected to stabilize and rebound [7]. Sugar - **Market Performance**: The Zhengzhou sugar 09 contract closed at 5786 yuan/ton, down 0.4% [7]. - **Fundamentals**: The global sugar market is expected to be in surplus in the 25/26 season, and the domestic sugar market is affected by imports [7]. - **Operation Strategy**: The market outlook is bearish [7]. Cotton - **Market Performance**: The US cotton price fell overnight, and the domestic cotton price fluctuated narrowly [7]. - **Fundamentals**: The cotton budding rate in the US is behind, and the domestic textile enterprise inventory has increased slightly [7]. - **Operation Suggestion**: Use an interval - oscillation strategy [7]. Palm Oil - **Market Performance**: The Malaysian palm oil market continued to rebound, with both supply and demand increasing [7]. - **Fundamentals**: The production in the producing areas is seasonally increasing, and the export has improved [7]. - **Trading Strategy**: It is in a seasonally weak stage, and attention should be paid to production and policies [7]. Eggs - **Market Performance**: The 2506 contract continued to decline, and the spot price rose [7]. - **Fundamentals**: The supply is high, the demand is weak, and the cost provides support [7]. - **Trading Strategy**: The futures price is expected to fluctuate [7]. Pigs - **Market Performance**: The 2509 contract fluctuated narrowly, with the near - term strong and the far - term weak, and the spot price mostly fell [7]. - **Fundamentals**: The supply is increasing, the demand is decreasing, and the cost is low [7]. - **Trading Strategy**: The futures and spot prices are expected to fluctuate downward [7]. Apples - **Market Performance**: The price remained at a high level with fluctuations [8]. - **Fundamentals**: Extreme weather affected apple fruiting, the inventory is low, and the market is worried about the new - season output [8]. - **Operation Strategy**: Wait and see [8]. Energy Chemical LLDPE - **Market Performance**: The main contract fell slightly, the basis weakened, and the import window was closed [9]. - **Fundamentals**: The domestic supply is increasing, the import is expected to decrease slightly, and the downstream demand is in the off - season [9]. - **Trading Strategy**: In the short term, it will fluctuate weakly, and in the long term, short the far - month contracts on rallies [9]. PVC - **Market Performance**: The V09 contract closed at 4704 yuan/ton, down 1.3%, and the trading was light [9]. - **Fundamentals**: The supply is expected to increase, the inventory reduction has slowed down, and the export demand has eased [9]. - **Operation Suggestion**: Close short positions and wait and see, and sell call options above 4850 [9]. PTA - **Market Performance**: The PX price is 836 US dollars per ton, and the PTA spot price is 4880 yuan/ton [9]. - **Fundamentals**: The PX supply is at a neutral level, the PTA supply pressure is large in the long term, and the polyester industry has some changes [9]. - **Trading Dimension**: Buy PX after a pull - back, and short the PTA processing margin on rallies [9]. Rubber - **Market Performance**: The RU2509 contract fell by 4.36% to 13,805 yuan/ton [10]. - **Fundamentals**: The raw material price is slightly loose, the spot buying sentiment is strong, and the inventory has changed [10]. - **Trading Strategy**: Close short positions in batches and wait and see, and consider a long - RU short - NR arbitrage [10]. PP - **Market Performance**: The main contract fell slightly, the basis was stable, and the import window was closed [10]. - **Fundamentals**: The domestic supply is increasing, the export window is open, and the downstream demand has different performances [10]. - **Trading Strategy**: In the short term, it will fluctuate weakly, and in the long term, short the far - month contracts on rallies [10]. MEG - **Market Performance**: The spot price is 4494 yuan/ton, and the basis is 144 yuan/ton [10]. - **Fundamentals**: The supply is at a medium - low level, the inventory is at a medium - low level, and the polyester industry has some changes [10]. - **Trading Dimension**: The price is expected to be strong in the short term, but be cautious when going long [10]. Crude Oil - **Market Performance**: The main contract fell slightly [10]. - **Fundamentals**: OPEC did not adjust production in July, and the US - Iran situation affects the oil price [10]. - **Trading Strategy**: The core depends on the US - Iran negotiation and the OPEC meeting. If OPEC continues to increase production and the US and Iran reach an agreement, the oil price may fall further [10]. Styrene - **Market Performance**: The main contract fell slightly, the basis was strong [10]. - **Fundamentals**: The upstream and downstream inventories are expected to accumulate slightly, and the downstream demand is affected by the US - China tariff situation [10]. - **Trading Strategy**: In the short term, the market will fluctuate, and in the medium term, short on rallies [10][11].

上期所原油期货2407合约夜盘收涨0.84%，报457.40元人民币/桶。 沪金夜盘收涨0.07%，沪银收跌0.26%。 ...