Report Summary Report Industry Investment Rating No relevant information provided. Core Viewpoints - On June 12, 2025, crude oil futures rose significantly, with the WTI July crude oil futures up 4.88% to $68.15 per barrel. The rise was due to geopolitical tensions, increased demand, and positive progress in Sino-US economic and trade negotiations. The price increase may push up inflation and raise downstream costs, and continuous attention should be paid to geopolitical situations, OPEC+ policies, and global economic trends [3]. - A-share market: After opening lower in the morning, the three major A-share indexes quickly rebounded and then fluctuated sideways, closing flat. With limited news except for the Sino-US economic and trade consultation mechanism meeting, the market is expected to continue to fluctuate at a high level [6][7]. - Gold: Currently in a volatile pattern that is difficult to change in the short term, but still bullish in the long term. It is advisable to buy on dips rather than chase the rise [10][11]. - Iron ore: There is a risk of overvaluation due to weak demand, but the continuous decline in port inventories supports the market. It is still a strong variety in the black series. Technically, the support below is effective, but it has been rising weakly recently, so it should be viewed as a volatile market [14][15]. - Glass: The supply side has not seen significant losses and cold repairs, factory inventories are still high, and downstream demand has not increased significantly. It is necessary to wait for the effects of real estate stimulus or major policy announcements. Technically, it declined slightly today, and a short - term volatile view is adopted [17][18]. - Urea: The domestic daily urea output is about 205,600 tons, with an operating rate of about 87.23%. Agricultural demand progress is slow, and the price continues to adjust weakly. When it reaches the previous support area, short - position profits are realized, and a strong rebound from the long side should be watched out for [21]. Summary by Related Catalogs Crude Oil Futures - On June 12, 2025, WTI 7 - month crude oil futures rose 4.88% to $68.15 per barrel [3]. - Reasons for the rise: geopolitical tensions (uncertainty in US - Iran nuclear negotiations), increased demand (US summer travel peak and Middle - East summer electricity - consumption peak), and positive progress in Sino - US economic and trade negotiations [3]. - Impact: may push up inflation and increase downstream costs, and continuous attention is needed on geopolitical situations, OPEC+ policies, and global economic trends [3]. A - share Market - The three major A - share indexes opened lower, rebounded quickly, and then fluctuated sideways, closing flat [7]. - With limited news except for the Sino - US economic and trade consultation mechanism meeting, the market is expected to continue high - level fluctuations [6]. Gold - Currently in a volatile pattern, difficult to change in the short term, but bullish in the long term [11]. - Operation strategy: buy on dips rather than chase the rise [10]. Iron Ore - There is a risk of overvaluation due to weak demand, but port inventory decline supports the market [14][15]. - Technically, the support below is effective, but the recent rise is weak, so it is a volatile market [14]. Glass - Supply side: no significant losses and cold repairs, high factory inventories [18]. - Demand side: downstream demand has not increased significantly, waiting for real estate stimulus or major policy announcements [17][18]. - Technically, it declined slightly today, and a short - term volatile view is adopted [17]. Urea - Supply: domestic daily output is about 205,600 tons, with an operating rate of about 87.23% [21]. - Demand: agricultural demand progress is slow, and downstream follow - up is limited, so the price continues to adjust weakly [21]. - Strategy: when it reaches the previous support area, short - position profits are realized, and a strong rebound from the long side should be watched out for [21].