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美国7月制造业自去年12月以来首次出现恶化 关税忧虑仍占主导
news flash· 2025-08-01 13:52
金十数据8月1日讯,标普全球市场情报首席商业经济学家Chris Williamson:美国7月制造业自去年12月 以来首次出现恶化,关税忧虑仍主导着商业环境。三季度初的这轮下行,部分原因是前几个月因关税影 响而导致的库存积累高峰已过。工厂报告称,7月新订单流入几乎没有变化,原材料和成品库存也有所 减少。此前由于担心进口价格上涨和供应紧张,企业在5月和6月大幅增加了库存。投入品价格继续大幅 上涨,这些更高的成本通常会转嫁给客户,导致销售价格通胀在7月依然居高不下,但也有迹象显示, 这种价格压力可能在6月已达到峰值。与此同时,工厂对未来一年的信心受到打击,主要担忧来自客户 需求的减弱,尤其是出口市场,以及关税带来的通胀压力。因此,在担心成本上升和销售下降的背景 下,工厂纷纷缩减员工数量,导致就业人数下滑。 美国7月制造业自去年12月以来首次出现恶化 关税忧虑仍占主导 ...
沪铜、沪锌:铜价或震荡锌价承压,库存有变化
Sou Hu Cai Jing· 2025-07-08 07:13
Group 1 - Copper prices are under pressure due to concerns over tariffs, with LME copper closing down 0.69% at $9,784 per ton and Shanghai copper futures settling at 79,390 CNY per ton [1] - LME copper inventory increased by 2,125 tons to 97,400 tons, with a cancellation rate rising to 37.9% [1] - Domestic copper social inventory rose by over 10,000 tons week-on-week, while bonded zone inventory saw a slight decrease [1] Group 2 - Zinc prices also declined, with the Shanghai Zinc Index falling 1.41% to 22,049 CNY per ton, and LME zinc dropping $50 to $2,695.5 per ton [1] - Domestic zinc social inventory increased slightly to 89,100 tons, indicating a higher supply of zinc ore and expectations for increased zinc ingot availability [1] - The cash-to-three-month structure for LME zinc is declining, putting additional pressure on zinc prices [1]
五矿期货早报有色金属-20250708
Wu Kuang Qi Huo· 2025-07-08 03:26
有色金属日报 2025-7-8 五矿期货早报 | 有色金属 铜 有色金属小组 吴坤金 从业资格号:F3036210 交易咨询号:Z0015924 0755-23375135 wukj1@wkqh.cn 曾宇轲 从业资格号:F03121027 0755-23375139 zengyuke@wkqh.cn 张世骄 从业资格号:F03120988 0755-23375122 zhangsj3@wkqh.cn 王梓铧 从业资格号:F03130785 0755-23375132 wangzh7@wkqh.cn 刘显杰 从业资格号:F03130746 0755-23375125 liuxianjie@wkqh.cn 陈逸 从业资格号:F03137504 0755-23375125 cheny40@wkqh.cn 关税忧虑下铜价下探,昨日伦铜收跌 0.69%至 9784 美元/吨,沪铜主力合约收至 79390 元/吨。产业 层面,昨日 LME 库存增加 2125 至 97400 吨,注销仓单数量增多,注销仓单比例提高至 37.9%,Cash/3M 升水 79.8 美元/吨。国内方面,周末电解铜社会库存环比增加逾 1 万吨, ...
瑞银:建议配置中国股票 科技股具有进一步上涨潜力
Zhi Tong Cai Jing· 2025-06-10 02:53
Group 1 - UBS's emerging markets strategist Xingchen Yu recommends strategic investment in Chinese stocks due to improving fundamentals, existing and potential policy support, and long-term growth prospects in artificial intelligence [1] - UBS maintains an "attractive" rating on Chinese tech stocks, highlighting their potential for further upside compared to their U.S. counterparts, which still have attractive valuations [1] - Sunil Tirumalai, UBS's chief strategist for global emerging market equities, believes the worst is over for emerging markets, although corporate earnings expectations have not yet been adjusted for U.S. tariff impacts [1] Group 2 - Chinese stocks exhibit greater resilience in profitability compared to other emerging markets, with earnings forecast downgrades being significantly smaller [2] - The valuation of the Chinese stock market is currently below its historical levels, while other emerging markets are at or above historical valuation levels [2] - There is a positive trend with retail investors returning to the market, evidenced by strong performance in the H-share market driven by domestic capital inflows [2]