Report Summary 1. Report Industry Investment Rating No industry investment rating is provided in the report. 2. Core Viewpoints - A-share major indices are stable but with shrinking trading volume and low volatility. The pro - cyclical sector shows a structural upward trend. The bond market had a sharp decline, driven by policy expectations and institutional behavior. Gold is in high - level oscillation, silver is oscillating strongly, and platinum and palladium require short - term trading. Shipping indices are expected to oscillate in the short term. Steel and iron ore markets have different trends, and coal - related products are in low - level oscillation. Non - ferrous metals have various trends based on supply, demand, and macro factors. New energy and chemical products also show diverse market conditions, and agricultural products have different price trends and investment suggestions [2][3]. 3. Summary by Category Financial Sector - **Stock Index Futures**: A - share market has low volume and low volatility. Short - term caution is advised, and for the CSI 1000, a bullish spread of put options can be considered on dips [2]. - **Treasury Bonds**: The bond market declined without fundamental changes. Unilateral strategies suggest waiting, and curve strategies may lean towards steepening [2]. - **Precious Metals**: Gold is in high - level oscillation, and short - term chasing of long positions is not recommended. Silver is oscillating strongly, and investors should lock in profits. Platinum and palladium require short - term high - selling and low - buying operations [2]. Shipping Sector - **Container Shipping Index**: Expected to oscillate in the short term, with the EC main contract rising [2]. Black Metals Sector - **Steel and Iron Ore**: Steel mills are cutting production, and a long - steel short - iron ore arbitrage is recommended. Iron ore is weakening from high - level oscillation [2]. - **Coal and Coking Products**: Coal prices are falling in some areas, and coking products' prices are oscillating. Appropriate arbitrage strategies are suggested [2]. Non - ferrous Metals Sector - **Copper**: With a significant increase in LME cancelled warrants, copper prices are rising. Buying on dips is recommended [2]. - **Aluminum and Related Products**: Aluminum prices are affected by macro factors, and different trading strategies are proposed for aluminum, alumina, and aluminum alloy [2]. - **Other Non - ferrous Metals**: Zinc, tin, nickel, and other non - ferrous metals have different price trends and corresponding trading suggestions [2][3]. New Energy and Chemical Sector - **New Energy Products**: Polysilicon, lithium carbonate, etc. have different market conditions, and most suggest a wait - and - see approach [3]. - **Chemical Products**: PX, PTA, short - fiber, and other chemical products have different supply - demand situations and investment suggestions [3]. Energy and Chemical Sector - **Energy Products**: LLDPE, PP, etc. have different market trends, and corresponding trading strategies are provided [3]. - **Chemical Products**: Methanol, caustic soda, PVC, etc. have different supply - demand pressures and investment suggestions [3]. Agricultural Products Sector - **Grains and Oils**: Corn is oscillating strongly, and palm oil may face resistance. Other grains and oils also have different price trends [3]. - **Other Agricultural Products**: Sugar, cotton, eggs, etc. have different market conditions and investment suggestions [3].