Group 1 - The core point of the article is the breakthrough market access provided by Japan for American manufacturers across multiple key sectors, including automotive parts, agricultural products, food, and aerospace products, following the signing of the US-Japan trade agreement [1][3] - The US will impose a baseline tariff of 15% on nearly all Japanese imports, with specific treatments for sectors like automotive, aerospace, and natural resources [3][4] - Japan has committed to investing $550 billion in the US, which is expected to create hundreds of thousands of American jobs and expand domestic manufacturing [1][3] Group 2 - Japan aims to increase its annual procurement of US rice by 75%, totaling $8 billion in agricultural purchases, including corn, soybeans, and fertilizers [3][4] - The agreement will reduce tariffs on Japanese automobiles and parts from 27.5% to 15%, benefiting the Japanese automotive industry significantly [4] - The US automotive industry has expressed concerns that the agreement favors Japanese automakers, as the 15% tariff on Japanese imports is lower than the 25% tariff on vehicles from Canada and Mexico [5][6] Group 3 - The impact of Japan's market opening is expected to be limited in the short term, as US car manufacturers have been exiting the Japanese market, which is dominated by domestic and European brands [5][6] - The current economic mindset in Japan is characterized by deflationary thinking, which may limit the effectiveness of market access for US interests [6] - The future of Trump's tariff policies remains uncertain, as recent court rulings have deemed many of his global tariff actions illegal, potentially affecting trade agreements with Japan and others [6]

Group 1 - The first International Symposium on Chemical Ecology was held in Guiyang, focusing on the development of chemical ecology research in the era of artificial intelligence [2] - The conference aimed to create a high-level academic exchange platform that integrates multiple disciplines and has an international perspective, exploring innovative paths for the intersection of intelligent technology and chemical ecology [4] - The meeting highlighted breakthrough applications of artificial intelligence in the frontier areas of chemical ecology, including machine learning in insect behavior prediction and the design of green pesticide molecules [6] Group 2 - The symposium emphasized the importance of leveraging Guizhou's rich wetland resources and ecological advantages to explore new models for modern agricultural development supported by technology [6] - Professor Zhou Jingjiang from Guizhou University expressed the hope that the conference would enhance the level of domestic chemical ecology research and promote the development of green agricultural pest management and environmental protection in Guizhou [8]

Group 1 - The US and Japan have officially implemented a trade agreement after reaching consensus on specific terms, including Japan's commitment to invest $550 billion in the US [1][2] - The agreement includes a 15% baseline tariff on nearly all Japanese imports to the US, with specific treatments for sectors like automotive, aerospace, and agriculture [1][2] - Japan will increase its procurement of US agricultural products, including a 75% increase in US rice purchases, totaling $8 billion annually [1][2] Group 2 - The trade agreement alleviates uncertainties for Japanese automotive companies regarding tariffs, which have been a sensitive topic during negotiations [2] - The US government will select the projects for the $550 billion investment from Japan, which is expected to create hundreds of thousands of jobs and boost domestic manufacturing [2] - The judicial legitimacy of the Trump administration's tariff policies is under scrutiny, with a recent court ruling stating that the president exceeded his authority in imposing broad tariffs [3]

Report Industry Investment Ratings No specific industry investment ratings are provided in the reports. Core Views - **Domestic and Overseas Economy**: Domestically, pro - service consumption policies in September and real - estate policies are being promoted, but their effects need further observation. Industrial profit repair takes time. Overseas, the US economy shows "soft landing" features, and employment data strengthens the market's Fed rate - cut expectation. Attention should be paid to non - farm employment and unemployment data. Also, the high prices of long - term bonds in the UK, Germany, and France may lead to speculation about a global credit "crisis" [2]. - **Renminbi Exchange Rate**: The core of the current RMB - US dollar exchange rate is the rhythm control. External environment changes will dominate the short - term spot exchange rate. After a strong employment report followed by a weak QCEW correction notice, market dovish sentiment may increase. The non - farm data is crucial. The RMB - US dollar spot exchange rate is likely to gradually repair to a reasonable equilibrium, with attention on market sentiment around 7.13 [4]. - **Stock Index**: The stock index is expected to adjust in the short term, with limited downside space [4]. - **Treasury Bonds**: The bond market lacks upward momentum, and the 10 - year Treasury yield has resistance around 1.75%. The market may enter a short - term shock. It is not advisable to chase high, and previous long positions should stop profit [7]. - **Container Shipping**: The short - term weak and volatile pattern continues. There are uncertainties from US tariffs and mainstream shipping companies' Golden Week blank - sailing plans. EC is likely to continue to fluctuate, and it is recommended to wait and see [10]. - **Commodities - Non - ferrous Metals**: - Copper: Copper prices may remain strong in the short term due to tight supply and the Fed rate - cut expectation [12]. - Aluminum: Aluminum is expected to be volatile and strong in the short term, with a price range of 20,500 - 21,000. It is recommended to build positions in batches on dips. Alumina is in a weak and volatile state, and it is recommended to sell call options. Cast aluminum alloy is also volatile and strong [14]. - Lead: Lead prices are expected to fluctuate, and strategies such as selling out - of - the - money call options or double - selling can be considered [16]. - Zinc: Zinc prices are affected by the macro environment and are expected to be in a bottom - strong and volatile state in the short term. Trading strategies such as selling the outer market and buying the inner market or selling out - of - the - money put options can be considered [19]. - Nickel and Stainless Steel: Affected by the non - ferrous market, they are expected to be in a volatile state. Attention should be paid to the impact of the Fed rate - cut expectation and the US dollar trend [21]. - Tin: Tin prices are expected to be slightly strong due to tight supply, with a target of 276,000 yuan per ton [23]. - Lithium Carbonate: The market is in a shock - adjustment stage. It is recommended to observe the spot - futures price difference and downstream actual receiving situations [24]. - Industrial Silicon and Polysilicon: Industrial silicon has limited downward space and is expected to rise in the medium - to - long - term. Polysilicon is in a wide - range shock state, and caution is needed in operation [26][27]. - **Commodities - Black Metals**: - Rebar and Hot - Rolled Coil: The steel market is in a weak fundamental state, with prices facing upward pressure. However, there are expectations for peak - season demand, and the market may be in a short - term shock - adjustment state. Attention should be paid to actual peak - season demand and macro policies [29]. - Iron Ore: Iron ore prices are currently strong but the rise may not be sustainable. Attention should be paid to short - selling hedging opportunities [31]. - Coking Coal and Coke: After the lifting of the military - parade production restrictions, the supply - demand gap of coke is expected to narrow. There may be room for the coke price to fall in the short term. Coking coal has a loose supply - demand structure, but short - term over - supply is not serious. Attention should be paid to pre - National - Day replenishment and peak - season demand verification [33]. - Ferrosilicon and Silicomanganese: The supply of ferrosilicon and silicomanganese is loose, and they are in a bottom - shock state. It is recommended to go long on the spread between the two when the spread is - 400 for the 01 contract [34][36]. - **Commodities - Energy and Chemicals**: - Crude Oil: The uncertainty of OPEC+ production increase is high, which will affect oil prices next week. Geopolitical risks are short - term interference factors. The oil market may face downward risks after the market sentiment subsides [38]. - LPG: LPG is expected to maintain a volatile state, affected by overseas factors, with controllable supply and uncertain demand [40]. - PTA - PX: The PX - TA market is mainly affected by structural contradictions, with a long - term trend of concentrated profits towards the PX end. It is recommended to shrink the PTA01 processing fee when it is above 350 [43]. - MEG - Bottle Chip: Ethylene glycol is expected to oscillate between 4,250 - 4,500, mainly following cost and commodity sentiment. It is recommended to build long positions on dips or sell the 4,250 put option for the 10 - contract [47]. - Methanol: The main contradiction of methanol lies in port pressure and high Iranian shipments. It is recommended to hold a small number of long positions and sold put options and pay attention to Iranian shipments and port pick - up [48]. - PP: The supply of PP is increasing, and the demand is uncertain. Its future trend depends on whether downstream demand can maintain high growth [51]. - PE: PE is in a pattern of decreasing supply and increasing demand, but the driving force from demand is not strong. It is expected to be in a volatile state [53]. - Pure Benzene and Styrene: The short - term unilateral driving force of pure benzene and styrene is weak. Pure benzene is expected to be weak and volatile, and for styrene, it is not recommended to short - sell unilaterally. Wait for the end of the decline and then consider buying at a low price [55][56]. - Fuel Oil: Fuel oil is dragged down by OPEC production increase expectations, and the downward driving force remains [57]. - Low - Sulfur Fuel Oil: Low - sulfur fuel oil is affected by OPEC production increase news. Its valuation is low, and it is recommended to wait for long - position opportunities [59]. - Asphalt: Asphalt's short - term performance is mainly affected by cost. In the medium - to - long - term, demand may improve with the arrival of the construction season, but there are still rainfall disturbances [61]. - Rubber and 20 - Number Rubber: Rubber prices are expected to fluctuate, with a slow upward - moving center of gravity. It is recommended to wait and see unilaterally and hold positive spreads for RU9 - 1 [65]. - Urea: Urea is in a pattern with support below and suppression above. The 01 contract is expected to oscillate between 1,650 - 1,850. Attention should be paid to the 1 - 5 reverse spread [66][67]. - Glass, Soda Ash, and Caustic Soda: Soda ash has a supply - strong and demand - weak pattern, with stable demand and high upstream and mid - stream inventories [68]. Summaries by Related Catalogs Financial Futures - **Macro**: US ISM service PMI expands at the fastest pace in half a year, but employment is weak, and prices remain high. The trade deficit widens, and the Fed rate - cut expectation is strengthened [1]. - **Renminbi Exchange Rate**: The on - shore RMB - US dollar exchange rate rises. External environment changes will dominate the short - term spot exchange rate. Attention should be paid to non - farm data [3][4]. - **Stock Index**: The stock index falls with increased volume, and it is expected to adjust in the short term with limited downside space [4][5]. - **Treasury Bonds**: The bond market lacks upward momentum, and the 10 - year Treasury yield has resistance around 1.75%. The market may enter a short - term shock [7]. Container Shipping - The short - term weak and volatile pattern continues. There are uncertainties from US tariffs and shipping companies' blank - sailing plans [8][10]. Commodities - Non - ferrous Metals - **Copper**: The copper price falls slightly but may remain strong in the short term due to tight supply and the Fed rate - cut expectation [11][12]. - **Aluminum**: Aluminum is volatile and strong in the short term, with a price range of 20,500 - 21,000. Alumina is weak and volatile, and cast aluminum alloy is also volatile and strong [13][14]. - **Lead**: Lead prices fluctuate, and strategies such as selling out - of - the - money call options can be considered [15][16]. - **Zinc**: Zinc prices are affected by the macro environment and are in a bottom - strong and volatile state in the short term [18][19]. - **Nickel and Stainless Steel**: Affected by the non - ferrous market, they are in a volatile state, and attention should be paid to the Fed rate - cut expectation and the US dollar trend [19][21]. - **Tin**: Tin prices are slightly strong due to tight supply, with a target of 276,000 yuan per ton [23]. - **Lithium Carbonate**: The market is in a shock - adjustment stage. Observe the spot - futures price difference and downstream actual receiving situations [23][24]. - **Industrial Silicon and Polysilicon**: Industrial silicon has limited downward space and is expected to rise in the medium - to - long - term. Polysilicon is in a wide - range shock state [25][27]. Commodities - Black Metals - **Rebar and Hot - Rolled Coil**: Steel mills resume production after the military parade. The market is in a weak fundamental state, with prices facing upward pressure but also supported by peak - season demand expectations [28][29]. - **Iron Ore**: Iron ore prices are strong, but the rise may not be sustainable. Attention should be paid to short - selling hedging opportunities [30][31]. - **Coking Coal and Coke**: After the lifting of production restrictions, the coke supply - demand gap is expected to narrow. Coking coal has a loose supply - demand structure [31][33]. - **Ferrosilicon and Silicomanganese**: The supply of ferrosilicon and silicomanganese is loose, and they are in a bottom - shock state [34]. Commodities - Energy and Chemicals - **Crude Oil**: OPEC+ production increase expectations and US crude oil inventory accumulation lead to a decline in oil prices. The uncertainty of OPEC+ production increase affects future prices [37][38]. - **LPG**: LPG is affected by overseas factors, with controllable supply and uncertain demand, and is expected to maintain a volatile state [39][40]. - **PTA - PX**: The PX - TA market is affected by structural contradictions, with a long - term trend of concentrated profits towards the PX end [41][43]. - **MEG - Bottle Chip**: Ethylene glycol oscillates between 4,250 - 4,500, mainly following cost and commodity sentiment [44][47]. - **Methanol**: The main contradiction of methanol lies in port pressure and high Iranian shipments [48]. - **PP**: The supply of PP is increasing, and the demand is uncertain, depending on downstream demand growth [50][51]. - **PE**: PE is in a pattern of decreasing supply and increasing demand, but the demand driving force is not strong [52][53]. - **Pure Benzene and Styrene**: The short - term unilateral driving force of pure benzene and styrene is weak [54][56]. - **Fuel Oil**: Fuel oil is dragged down by OPEC production increase expectations [57]. - **Low - Sulfur Fuel Oil**: Low - sulfur fuel oil is affected by OPEC production increase news, with low valuation [59]. - **Asphalt**: Asphalt's short - term performance is mainly affected by cost, and demand may improve in the medium - to - long - term [60][61]. - **Rubber and 20 - Number Rubber**: Rubber prices are expected to fluctuate, with a slow upward - moving center of gravity [62][65]. - **Urea**: Urea is in a pattern with support below and suppression above, and attention should be paid to the 1 - 5 reverse spread [66][67]. - **Glass, Soda Ash, and Caustic Soda**: Soda ash has a supply - strong and demand - weak pattern [68].

Report Industry Investment Ratings - Iron ore: Oscillating [2] - Coking coal and coke: Oscillating weakly [2] - Rolled steel and rebar: Weakly [2] - Glass: Oscillating weakly [2] - SSE 50 Index: Oscillating [2] - CSI 300 Index: Oscillating [2] - CSI 500 Index: Oscillating [4] - CSI 1000 Index: Downward [4] - 2 - year Treasury bond: Oscillating [4] - 5 - year Treasury bond: Oscillating [4] - 10 - year Treasury bond: Rebounding [4] - Gold: Oscillating strongly [4] - Silver: Oscillating strongly [4] - Pulp: Consolidating [6] - Logs: Weakly oscillating [6] - Soybean oil: Oscillating [6] - Palm oil: Oscillating [6] - Rapeseed oil: Oscillating [6] - Soybean meal: Oscillating weakly [6] - Rapeseed meal: Oscillating weakly [6] - Soybean No. 2: Oscillating weakly [6] - Soybean No. 1: Oscillating weakly [7] - Live pigs: Oscillating strongly [7] - Rubber: Oscillating [9] - PX: On - hold [9] - PTA: Oscillating [9] - MEG: On - hold [9] - PR: On - hold [9] - PF: On - hold [9] Core Views - The steel industry's steady - growth policy from 2025 - 2026 doesn't limit steel production, focusing on industrial added - value. The iron ore market has limited fundamental contradictions and is expected to oscillate at high levels. The coal - coke market is weakening, and the rolled steel and rebar market is in a weak fundamental pattern [2]. - The overall market is weakening, and it is recommended to control risk appetite and reduce long positions in stock indices. Treasury bonds are trending weakly, and long positions should be held lightly. Gold and silver are expected to oscillate strongly due to various factors such as central bank buying, geopolitical risks, and interest - rate expectations [4]. - Pulp is expected to oscillate and rise, but the increase may be limited. Logs are expected to run weakly. Oils and fats are likely to oscillate, and meal products are expected to oscillate weakly. Live pigs are expected to see a slight price increase [6][7]. - Natural rubber is expected to remain strong in the short - term due to supply constraints and inventory decline. PX, PTA, MEG, PR, and PF in the polyester industry have different trends based on factors like supply - demand and cost [9]. Summary by Industry Black Industry - **Iron ore**: The 2025 - 2026 steel industry policy doesn't limit production. The price is relatively strong, with limited fundamental contradictions. The expected reduction in daily hot - metal production in the Beijing - Tianjin - Hebei region has little impact on demand, and it is expected to oscillate at high levels [2]. - **Coking coal and coke**: The fundamentals are weakening, with increasing supply and decreasing demand. It is expected to oscillate weakly [2]. - **Rolled steel and rebar**: The supply remains high, and the total demand is difficult to show counter - seasonal performance. The inventory is accumulating, and it is expected to run weakly [2]. - **Glass**: The market sentiment has cooled, and the supply - demand pattern hasn't improved significantly. The key lies in the cold - repair path, and it is expected to oscillate weakly [2]. Financial Industry - **Stock indices**: Most stock indices are in an oscillating state, with the CSI 1000 Index trending downward. The market is weakening, and risk control is recommended [2][4]. - **Treasury bonds**: The yields are fluctuating, and the market is trending weakly. Long positions should be held lightly [4]. - **Precious metals**: Gold and silver are expected to oscillate strongly due to factors such as central bank buying, geopolitical risks, and interest - rate expectations [4]. Light Industry - **Pulp**: The cost supports the price, but the demand improvement is uncertain. It is expected to oscillate and rise, but the increase may be limited [6]. - **Logs**: The supply pressure is small, the peak season expectation is uncertain, and the delivery willingness is weak. It is expected to run weakly [6]. Agricultural Products Industry - **Oils and fats**: The supply of raw materials is relatively loose, and the demand is growing. It is expected to oscillate, and attention should be paid to weather and production - sales conditions [6]. - **Meal products**: The market sentiment has worsened, the supply is abundant, and the demand is weakening. It is expected to oscillate weakly [6][7]. - **Live pigs**: The average transaction weight is decreasing, the slaughter rate is rising, and the price is expected to rise slightly [7]. Soft Commodities and Polyester Industry - **Natural rubber**: The supply is tight, the demand is relatively stable, and the inventory is decreasing. It is expected to remain strong in the short - term [9]. - **PX, PTA, MEG, PR, PF**: Their trends are affected by factors such as supply - demand, cost, and market sentiment, with different performance and expectations [9].

Core Points - The U.S. has officially implemented a trade agreement with Japan, which includes a 15% baseline tariff on nearly all Japanese imports entering the U.S. [2] - Japan will provide significant market access for U.S. manufacturers in key sectors, including aerospace, agriculture, and automotive [2] - Japan aims to increase its procurement of U.S. rice by 75% and will purchase U.S. agricultural products totaling $8 billion annually [2] - Japan will allow the sale of U.S. manufactured passenger cars with U.S. safety certification without additional testing [2] - Japan has committed to purchasing U.S. commercial aircraft and defense equipment, along with an investment of $550 billion in the U.S. [2]

Core Viewpoint - The implementation plan aims to strengthen the collaboration between fiscal and financial policies to support high-quality economic development in Tai'an City [1][2] Group 1: Financial Policy Collaboration - The plan focuses on leveraging fiscal and financial policies, along with industrial and regulatory policies, to attract more financial resources to support the real economy [1] - It emphasizes the construction of an inclusive financial system, including reforms in government financing guarantees and risk compensation mechanisms [1] Group 2: Support for Rural Revitalization - The plan includes tools such as credit interest subsidies and guarantee subsidies to assist rural revitalization efforts [2] - It aims to enhance the agricultural insurance system, implementing comprehensive cost and income insurance for major grain crops and soybean cultivation [1] Group 3: Innovation in Technology Enterprises - The plan provides loan interest subsidies for major project transformations and risk compensation for early-stage technology companies [2] - It encourages the purchase of "Lu Ke Bao" products by technology enterprises, with additional subsidies from the city level on top of provincial support [2] Group 4: Support for Enterprise Development - The plan optimizes policies for equipment updates and technical transformation loans to promote industrial upgrades [2] - It aims to reduce financing costs for upstream and downstream enterprises by facilitating connections between financial institutions and core industry players [2] Group 5: Integration of Financial Policies - The plan highlights the role of municipal investment funds in guiding cooperation with high-quality domestic funds and financial institutions [2] - It encourages banks to provide preferential financing in the green and low-carbon sectors, utilizing public data platforms for comprehensive service provision [2]

1. Report Industry Investment Ratings No relevant content provided. 2. Core Views of the Report - International gold prices hit a new high, and significant domestic events are approaching. Amid overseas economic contraction and rising long - term interest rate risks, the dollar index rose, and the stock market declined. In the domestic market, A - shares weakened, and the market style shifted. The linkage between stocks and bonds weakened, and attention should be paid to post - risk - preference asset allocation opportunities [2][3]. - Precious metals are expected to maintain strong performance due to Trump's pressure on the Fed, which erodes market confidence in the Fed's independence, triggering a surge in risk - aversion sentiment. The market is focused on the US non - farm payroll data to predict the September interest - rate cut [4][5]. - Copper prices are expected to continue rising due to the combination of macro factors (Trump's intervention in the Fed, weakening dollar, and expected non - conventional economic stimulus measures) and fundamental factors (overseas mine supply disruptions and approaching consumption season) [6][7]. - Aluminum prices are expected to oscillate as the market's confidence in the Fed's interest - rate cut strengthens, and the consumption season is approaching, but the market is still waiting for clear macro guidance [8][9]. - Alumina prices are expected to be under pressure and oscillate as the supply remains sufficient, the spot price is slightly down, and the warehouse receipt inventory is rising [10]. - Zinc prices are expected to repair strongly in the short term as the short - selling funds reduce their positions, and there is an expected marginal improvement in consumption and a reduction in supply pressure [11]. - Lead prices are expected to oscillate as the short - term supply - demand situation has not changed significantly, and the contradictions are dull [12]. - Tin prices are expected to oscillate strongly above the moving average as the market risk preference declines, and the short - term supply is insufficient while demand is weak [13]. - Industrial silicon prices are expected to oscillate in the short term as the supply pressure is high, and the demand side has mixed performance, with the social inventory slightly decreasing [14][15]. - Lithium carbonate prices are expected to decline weakly as the market corrects the supply - disruption pricing, and the downstream is in a wait - and - see state [16][17]. - Nickel prices are expected to oscillate as the dollar index rises, putting pressure on nickel prices, but there is an expected improvement in the nickel - iron fundamentals and a potential boost to the spot market after the price decline [18]. - Crude oil prices are expected to oscillate strongly as the geopolitical situation in Russia - Ukraine heats up, and the market expects OPEC+ to pause its production - increase plan [19]. - Steel prices are expected to stabilize and oscillate as the supply and demand of steel both increase, and there is short - term technical support [20]. - Iron ore prices are expected to rebound and oscillate as the port inventory slightly decreases, and there is a demand for restocking [22]. - Bean and rapeseed meal prices are expected to continue oscillating as the US soybean good - crop rate is lower than expected, and there is uncertainty in long - term procurement [23][24]. - Palm oil prices are expected to oscillate as the Malaysian palm oil production decreased in August, but the export demand is strong, mainly due to a significant increase in Indian imports [25][27]. 3. Summaries According to Relevant Catalogs 3.1 Macro - Overseas: The US 8 - month ISM manufacturing PMI rose to 48.7 but remained in the contraction range for six consecutive months. In Europe, debt and political risks intertwined, and long - term bond yields hit multi - year highs. The dollar index rose to 98.4, and the stock market declined. Gold prices hit a new high of 3540, and copper and oil both rose by over 1% [2]. - Domestic: Xi Jinping met with the Iranian President to deepen economic and trade cooperation, and Kim Jong - un arrived in Beijing. A - shares weakened, the market style shifted, and the margin trading balance expanded to 2.3 trillion. The linkage between stocks and bonds weakened, and the 10Y and 30Y treasury bond interest rates were 1.77% and 2.02% respectively [3]. 3.2 Precious Metals - Tuesday saw precious metals continue to rise. Trump's pressure on the Fed eroded market confidence in the Fed's independence, driving gold and silver prices to record highs. COMEX gold futures rose 1.51% to 3599.5 dollars/ounce, and COMEX silver futures rose 0.01% to 41.73 dollars/ounce. The market is focused on the US non - farm payroll data to predict the September interest - rate cut [4][5]. 3.3 Copper - On Tuesday, the main contract of Shanghai copper oscillated upward, and LME copper broke through the key resistance above 10,000 dollars. The domestic near - month structure turned to par. Macro factors such as Trump's intervention in the Fed and expected non - conventional economic stimulus measures boosted the metal market. In the industry, the Mantoverde mine in Chile will experience a temporary production decline. Short - term copper prices are expected to continue rising [6][7]. 3.4 Aluminum - On Tuesday, the main contract of Shanghai aluminum closed at 20,720 yuan/ton, up 0.24%. LME aluminum closed at 2,621.5 dollars/ton, up 0.08%. The market's confidence in the Fed's interest - rate cut strengthened, and the consumption season is approaching, but the market is still waiting for clear macro guidance, so aluminum prices are expected to oscillate [8][9]. 3.5 Alumina - On Tuesday, the main contract of alumina futures closed at 3,022 yuan/ton, up 0.43%. The supply is sufficient, the spot price is slightly down, and the warehouse receipt inventory is rising. Alumina prices are expected to be under pressure and oscillate [10]. 3.6 Zinc - On Tuesday, the main contract of Shanghai zinc oscillated strongly. The US 8 - month ISM manufacturing PMI contracted for six consecutive months, but new orders improved. The domestic consumption is expected to improve marginally, and the supply pressure is relieved in stages. Short - term zinc prices are expected to oscillate strongly in the range [11]. 3.7 Lead - On Tuesday, the main contract of Shanghai lead oscillated. The supply of lead concentrates is tightening, and the supply pressure is weakening as more refineries are under maintenance. The consumption side is affected by both the Middle - East tariff on exported batteries and the new national standard for electric bicycles. Lead prices are expected to oscillate in the short term [12]. 3.8 Tin - On Tuesday, the main contract of Shanghai tin oscillated narrowly. The decline of European and American stock markets cooled the market risk preference, and the short - term supply is insufficient while demand is weak. Tin prices are expected to oscillate strongly above the moving average [13]. 3.9 Industrial Silicon - On Tuesday, the main contract of industrial silicon oscillated strongly. The supply pressure is high, and the demand side has mixed performance. The social inventory decreased slightly last week. Industrial silicon prices are expected to oscillate in the short term [14][15]. 3.10 Carbonate Lithium - On Tuesday, carbonate lithium oscillated weakly. The market has corrected the supply - disruption pricing, and the downstream is in a wait - and - see state. Lithium prices are expected to decline weakly [16][17]. 3.11 Nickel - On Tuesday, nickel prices were weak. The US Supreme Court ruled that Trump's tariff policies were unconstitutional, causing the dollar index to soar. The nickel - iron fundamentals are expected to improve, and nickel prices are expected to oscillate [18]. 3.12 Crude Oil - On Tuesday, crude oil prices oscillated strongly. The Russia - Ukraine conflict heated up, and the market expects OPEC+ to pause its production - increase plan. Crude oil prices are expected to oscillate strongly [19]. 3.13 Steel (Screw and Coil) - On Tuesday, steel futures stabilized and oscillated. The supply and demand of steel both increased, and there is short - term technical support. Steel prices are expected to stabilize and oscillate [20]. 3.14 Iron Ore - On Tuesday, iron ore futures rebounded and oscillated. The port inventory decreased slightly, and there is a demand for restocking. Iron ore prices are expected to rebound and oscillate [22]. 3.15 Bean and Rapeseed Meal - On Tuesday, the 01 contract of bean meal fell 0.33% to 3,050 yuan/ton, and the 01 contract of rapeseed meal fell 0.44% to 2,500 yuan/ton. The US soybean good - crop rate was 65%, lower than expected. Short - term US soybean procurement agreements are difficult to reach, and prices are expected to continue oscillating [23][24]. 3.16 Palm Oil - On Tuesday, the 01 contract of palm oil rose 1.03% to 9,422 yuan/ton. In August, Malaysian palm oil production decreased, but export demand was strong due to a significant increase in Indian imports. Palm oil prices are expected to oscillate [25][27].

Group 1 - The U.S. has signed a trade agreement with Japan, implementing a 15% baseline tariff on nearly all Japanese goods exported to the U.S. [3] - The new tariff framework aims to reduce the U.S. trade deficit with Japan and improve overall trade balance [3] - Japan will increase its procurement of U.S. rice by 75% and commit to purchasing $8 billion worth of U.S. agricultural products annually [3] Group 2 - Japan will allow U.S. manufactured passenger cars to be sold in its market without additional testing, adhering to U.S. safety certification standards [3] - The agreement includes commitments for Japan to purchase U.S. manufactured commercial aircraft and defense equipment [3] - Key sectors for market access include manufacturing, aerospace, agriculture, food, energy, automotive, and industrial products [3] Group 3 - Gold futures are currently trading at approximately 815.10 yuan per gram, with a slight decline of 0.12% [1] - The trading range for gold futures shows a high of 817.76 yuan per gram and a low of 811.36 yuan per gram [1] - Key resistance levels for gold futures are identified between 823 yuan per gram and 860 yuan per gram, while support levels are between 781 yuan per gram and 850 yuan per gram [4]

Group 1 - The Ministry of Finance, in collaboration with the Ministry of Agriculture and Rural Affairs and the Ministry of Water Resources, has allocated 940 million yuan for agricultural disaster relief and water conservancy disaster recovery [1] - The funding aims to support four provinces (Fujian, Guangdong, Xinjiang, Gansu) in post-flood crop replanting and the repair of agricultural production facilities damaged by water [1] - Additionally, the funding will assist eight provinces (Beijing, Hebei, Inner Mongolia, Jilin, Fujian, Shandong, Sichuan, Gansu) in accelerating the repair of water conservancy engineering facilities to ensure the safe operation of these projects [1]