Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core View of the Report The report objectively reflects the research views of futures companies and securities companies on various commodity varieties, tracks hot varieties, analyzes market investment sentiment, and summarizes investment driving logics. It is based on the research reports publicly released by institutions in the current week, and processes and summarizes the long - short views and trading logics of each futures variety. The closing price data is from last Friday, and the weekly change is the change in the closing price of last Friday compared with the previous Friday [2]. 3. Summary by Directory 3.1 Market Data - **Commodities**: From July 7th to July 11th, 2025, the commodities with significant weekly increases include coke (6.04%), glass (5.85%), and iron ore (4.30%); while those with decreases include copper (-1.63%), corn (-2.00%), and methanol (-1.21%) [3]. - **A - shares**: The CSI 500 rose 1.96%, the SSE 50 rose 0.60%, and the CSI 300 rose 0.82% [3]. - **Overseas Stocks**: The French CAC40 rose 1.73%, the FTSE 100 rose 1.34%, while the Nasdaq Index fell -0.08%, the S&P 500 fell -0.31%, and the Nikkei 225 fell -0.61% [3]. - **Bonds**: The 2 - year Chinese Treasury bond rose 2.81%, the 5 - year rose 2.00%, and the 10 - year rose 1.08% [3]. - **Foreign Exchange**: The US Dollar Index rose 0.91%, while the US Dollar central parity rate fell -0.08%, and the Euro - US Dollar exchange rate fell -0.74% [3]. 3.2 Commodity Views Summary - **Macro - Financial Sector** - **Stock Index Futures**: Among 8 institutions' views, 4 are bullish, 0 are bearish, and 4 expect a sideways trend. The bullish logics include domestic "anti - involution" boosting market confidence, potential passive position - increasing after index breakthrough; bearish logics include weakened upward momentum at high levels and concerns about policy risks [4]. - **Treasury Bond Futures**: Among 8 institutions' views, 4 are bullish, 2 are bearish, and 2 expect a sideways trend. Bullish factors are the loose monetary policy and weak inflation environment; bearish factors are the recovery of risk appetite and short - term cooling of interest - rate cut expectations [4]. - **Energy Sector** - **Crude Oil**: Among 9 institutions' views, 2 are bullish, 2 are bearish, and 5 expect a sideways trend. Bullish logics are strong US diesel demand and a decline in active drilling rigs; bearish logics are potential impacts of US tariff policies on the global economy and high OPEC+ production in June [5]. - **Agricultural Sector** - **Live Pigs**: Among 7 institutions' views, 2 are bullish, 1 is bearish, and 4 expect a sideways trend. Bullish factors are low slaughter volume and policy regulation; bearish factors are stable sow inventory and weak demand due to hot weather [5]. - **Non - ferrous Metals Sector** - **Copper**: Among 7 institutions' views, 1 is bullish, 2 are bearish, and 4 expect a sideways trend. Bullish logics are tight mine supply and low LME inventory; bearish logics are expected US copper tariff hikes and weak demand in construction and other industries [6]. - **Chemical Sector** - **Soda Ash**: Among 7 institutions' views, 0 are bullish, 5 are bearish, and 2 expect a sideways trend. Bullish factors are the stabilization of the coal market and low short - term valuations; bearish factors are weakening basis, high production rates, and high inventory levels [6]. - **Precious Metals Sector** - **Gold**: Among 7 institutions' views, 6 are bullish, 1 is bearish, and 0 expect a sideways trend. Bullish logics are the expectation of Fed rate cuts and increased geopolitical uncertainties; bearish logics are low energy prices and potential delays in Fed policy shifts [7]. - **Black Metals Sector** - **Coking Coal**: Among 8 institutions' views, 3 are bullish, 0 are bearish, and 5 expect a sideways trend. Bullish factors are the first price increase by coke enterprises and high iron - water production; bearish factors are the resumption of coal mine production and weak construction demand [7].