基本面： 白银图表： 周三（12月17日）亚市早盘，白银突破历史新高站上65美元，成为2025年大宗商品中最强劲的反弹之一。现货白银价格今日早盘飙升至每盎司65美元以上， 突破历史纪录，成为2025年大宗商品中最强劲的反弹之一，持续变化的市场动态正推动白银表现远超历史常态。本轮上涨受到供需两端的共同支撑：全球白 银市场已连续第五年出现结构性短缺，开采产出受限，而来自可再生能源、电子产品等工业领域的需求持续扩大；同时，对全球货币政策宽松和实际收益率 走低的预期，降低了持有无息资产的机会成本，吸引了寻求资产多元化和通胀对冲的机构投资者，形成了工业需求与投资需求罕见的共振。 白银已达到其长期目标的最低门槛，只要支撑保持，涨势仍有空间继续上涨，"我理想的目标大约是75到80美元。"白银是否能达到该区间，很大程度上取决 于年底市场的表现。向43至47美元区间的可控回调，可能为最终爆发反弹提供技术结构。"如果我们能达到75到80美元，那可能就是最后的吹风顶。"，美国 11月非农就业增加64,000人，略高于市场预期的50,000，而10月数据被下修至-105,000。失业率上升至4.6%，较前值4.4%有所提高，平均小时 ...

11月27日，铂、钯期货在广期所上市交易。当日，铂主力PT2606合约涨6.25%，至430.30元／克；钯主 力PD2606合约涨1.53%，至370.60元／克。次日，二者分别收报435.55元／克和371.55元／克。 截至11月28日收盘，铂期货总持仓量为8926手。其中，PT2606合约持仓量为8048手，PT2608合约持仓 量为643手，PT2610合约持仓量为235手。同期，钯期货总持仓量为2697手。其中，PD2606合约持仓量 为2550手，PD2608合约持仓量为94手，PD2610合约持仓量为53手。 11月27日和28日的两个交易日，铂期货累计成交91311手。其中，PT2606合约累计成交86293手， PT2608合约累计成交4118手，PT2610合约累计成交900手。同期，钯期货累计成交45094手，其中 PD2606合约累计成交43091手，PD2608合约累计成交1715手，PD2610合约累计成交288手。 铂、钯期权于11月28日上市交易，上市首日成交偏谨慎，预计持仓量和成交量将随时间推移而逐步上 升。铂期权当日持仓量为823张，成交量为1358张，成交额为3455. ...

Core Viewpoint - Aluminum prices have risen for seven consecutive days, potentially setting a record for the longest streak in over a year, driven by expectations of a Federal Reserve interest rate cut [1] Group 1: Market Dynamics - The benchmark aluminum price on the London Metal Exchange increased by 0.6% to $2,705 per ton during the Asian trading session, reaching the highest level since March [1] - The anticipation of the Federal Reserve's policy decision has led to increased expectations for monetary easing, which has put pressure on the US dollar and boosted industrial metal prices [1] Group 2: Supply Concerns - A surge in aluminum inventory withdrawal requests has raised supply concerns, which continues to support aluminum prices [1]

Core Viewpoint - Aluminum prices have risen for seven consecutive days ahead of the Federal Reserve's policy decision, potentially marking the longest streak in over a year, driven by expectations of interest rate cuts and increased supply concerns [1]. Group 1: Market Trends - Aluminum prices increased by 0.6% to $2,705 per ton during the Asian trading session, reaching the highest level since March [1]. - The rise in aluminum prices is attributed to heightened expectations of monetary easing, which has put pressure on the US dollar and boosted industrial metal prices [1]. Group 2: Supply and Demand Dynamics - There has been a surge in aluminum inventory withdrawal requests, raising concerns about supply, which continues to support aluminum prices [1].