// 市场要闻 // 1 、 10 月 15 日，国家统计局将公布 9 月 CPI 、 PPI 数据。除 CPI 、 PPI 外， 9 月新增 贷款、 M2 、社融等金融数据也即将公布。 2 、根据"十个工作日"原则，本轮调价窗口为 10 月 13 日 24 时。据金联创测算，截至 10 月 10 日第八个工作日，参考原油品种均价为 64.97 美元 / 桶，变化率为 -0.34% ，对应 的国内汽柴油零售价应下调 20 元 / 吨。 3 、由工业和信息化部、交通运输部、北京市人民政府共同主办的 2025 世界智能网联汽车 大会将于 10 月 16 日 -10 月 18 日在北京举办。大会将聚焦人工智能、信息通信、数据利 用、芯片等前沿科技在内的汽车产业应用创新，与全球多国海外政府机构相关负责人、专家 分享中国智能网联汽车产业领域的最新技术突破、产业趋势。 4 、北京时间周六早上 5 时 20 分左右开始， USDe 在某知名交易所的现货价格突然脱锚， 在之后的半个小时里最低跌至 0.65 美元。整场风波持续了近两个小时，期间多种主流货币的 封装代币同步暴跌，共同形成币圈历史级别的大爆仓。 在 CoinMar ...

Group 1: Government Initiatives - Seven departments, including the Ministry of Industry and Information Technology, issued a plan to promote service-oriented manufacturing from 2025 to 2028, focusing on developing energy-saving and environmental protection services, and enhancing capabilities in green diagnostics and energy measurement [2] - During the "14th Five-Year Plan" period, Henan Province discovered 31 new mineral sites, with mining rights transaction amounts reaching 29.7 billion RMB [2] - Yunnan Province has established a national clean energy base, with total power generation capacity exceeding 167 million kilowatts, a 61.8% increase from the end of the "13th Five-Year Plan," and green power capacity exceeding 150 million kilowatts, ranking first in the country [2] Group 2: Industry Developments - Beijing is set to create a manganese-based battery industry cluster, with a new research institute established to accelerate the development of key materials and technologies for manganese-based batteries [3] - Jiangxi Province launched its first "mobile charging experience station," equipped with intelligent mobile charging robots capable of servicing approximately 20 electric vehicles, significantly reducing waiting times for drivers [3] Group 3: Market Performance - The passenger car market in China has seen cumulative retail sales of 17 million units this year, a 9% year-on-year increase, with September's retail sales of new energy vehicles reaching 1.307 million units, a 16% increase compared to last September [4]

Core Insights - Recent surge in precious metal prices, with gold surpassing $3993 per ounce and silver reaching $50.67, reflecting significant year-to-date increases of over 50% and 75% respectively [1][3] - Market dynamics are influenced by factors such as risk aversion, Federal Reserve rate cut expectations, and central bank gold purchases, but the real opportunities often arise before consensus is reached [3][10] Market Behavior Analysis - Market trading behavior is complex, with different phases indicating various investor actions: bullish dominance, profit-taking, bearish dominance, and short covering [5] - Historical data shows that significant price movements can occur even when positive news is announced, as seen in a silver mining stock that dropped 15% despite a positive discovery announcement due to prior profit-taking [7][9] Current Precious Metals Market - The increase in silver ETF holdings by 1000 tons this year does not necessarily indicate retail investor buying, as commercial short positions are at historical lows, suggesting miners and refiners are reducing hedging [10][12] - The recent gold market surge is driven by more than just risk aversion; a multi-dimensional analysis reveals deeper insights into market behavior and potential pitfalls for investors [10][12] Investment Principles - Three key investment principles are highlighted: the need for data-driven decision-making, understanding market discrepancies, and the importance of dynamic tracking of market momentum [12][13] - The current precious metals market resembles past trends where early identification of industry turning points led to significant profits, emphasizing the importance of information processing capabilities in investment strategies [11][12]

Core Viewpoint - The cobalt supply chain is undergoing significant changes due to the lifting of the export ban by the Democratic Republic of the Congo (DRC) and the implementation of an export quota system, which is expected to lead to a substantial increase in cobalt prices in the coming years [2][4][10]. Export Ban and Quota Management - The DRC announced that the cobalt export ban, which lasted for nearly eight months, will be lifted on October 16, with an annual export quota management system introduced [2][3]. - The export cap for the remainder of 2025 is set at 18,125 tons, with future quotas for 2026 and 2027 being significantly lower than the country's production capacity [3][4]. - The quota system is based on the export performance of companies in 2022, 2023, and 2024, with penalties for non-compliance [3][4][7]. Price Impact and Market Dynamics - The lifting of the export ban and the introduction of quotas are expected to tighten global cobalt supply, leading to a projected shortage of 122,000 tons, 88,000 tons, and 97,000 tons in 2025, 2026, and 2027 respectively [2][10]. - Cobalt prices have already doubled this year, with the latest price for electrolytic cobalt in China reaching 349,500 yuan per ton [9]. - Analysts predict that the combination of supply constraints and rising demand from sectors like electric vehicles and consumer electronics will further drive up cobalt prices, potentially exceeding 400,000 yuan per ton [9][10]. Strategic Implications for Companies - Major cobalt producers like Luoyang Molybdenum and Glencore are set to receive significant export quotas, but these may still fall short of their production capacities [10]. - The DRC government aims to control global cobalt prices through flexible supply adjustments, which could benefit companies with operations in Indonesia and those holding mining rights in the DRC [10].

刚果（金）是全球最大的钴生产国，2024年产量占全球的75.86%。出口禁令自今年2月底开启，至今已 持续近8个月。 刚果（金）为期8个月的钴出口禁令将于10月16日划上句号。该国战略矿产市场监管局（ARECOMS） 10月12日公布新规，将自16日起实施年度出口配额管理，2025年剩余时间的出口上限为18125吨。 文件显示，钴出口配额是依照2024年、2023年、2022年各企业的出口情况确定，按照比例计算。在此前 的一份文件中，ARECOMS表示，2025年10月16日至2025年12月31日，刚果（金）出口至外部市场的钴 最大总量为18125吨。2026年，出口至外部市场的钴最大总量为96600吨，包括87000吨的"基础配额"和 9600吨的"战略配额"。2027年出口配额将与2026年相同。 据悉，全球最大钴生产商洛阳钼业将在2025年四季度获得6500吨钴出口配额，在2026年获得31200吨的 钴出口配额，超过刚果（金）2026年基础配额的三分之一。即便如此，洛阳钼业所获配额仍与其年产量 有着较大差距。2024年公司钴生产量为114165吨，该企业2026年钴出口配额不到2024年钴产量的三成 ...

以下文章来源于睿知睿见 ，作者睿知睿见 睿知睿见 . 一个好的投资者，其能量一定的积极的，向上的，乐观的！ 别人看着他，就像看着太阳！ 他还能用朴实易懂的语言，传递正确的投资理念！ ↑点击上面图片 加雪球核心交流群 ↑ 风险提示：本文所提到的观点仅代表个人的意见，所涉及标的不作推荐，据此买卖，风险自负。 作者： 睿知睿见 来源：雪球 周五晚上A50期货和中概暴跌。 有人用特朗普的一句话来解释： 也许我们必须停止从中国大量进口。 也就是新一轮贸易战开打了。吓得资本市场瑟瑟发抖。 我并不认同这种观点，相反， 我认为特朗普又要给我们发钱了。 咱们好好分析一下。 一、特朗普总在间接逼东大秀肌肉 自打特朗普发动贸易战以来，我们会发现，每次他都会临阵退缩。 而东大则会秀一秀肌肉，让世界不断地感受到其强大到可怕的力量。 然后，就会有更多资金涌入A股和港股。 要不是央行有意通过释放银行间流动性对抗资金回流，A股恐怕还不止这点涨幅。 这一次也不例外，我们看看最近几天的消息。 1.更加严格的稀土管控； 2.大幅增加出口管控物项； 3.对美船舶收取船舶特别港务费； 4.对高通进行反垄断调查； 5.要求澳大利亚必和必拓用人民币结算铁 ...

Core Viewpoint - The article discusses the upcoming CINE2025 Solid-State Battery Exhibition and Industry Annual Conference, highlighting its significance in the solid-state battery sector and the recent developments regarding the mining rights of Zangge Mining, which impact lithium production [2][4]. Group 1: Event Details - The CINE2025 Solid-State Battery Exhibition and Industry Annual Conference will take place from November 6 to 8, 2025, at the Guangzhou Nansha International Convention Center, featuring over 200 exhibitors and 20,000 professional attendees [2]. - The event will also include the 2025 Qidian Solid-State Battery Golden Ding Award Ceremony and the SSBA Solid-State Battery Industry Alliance Council [2]. Group 2: Zangge Mining Developments - Zangge Mining's subsidiary, Geermu Zangge Potash Fertilizer Co., received mining rights certificates, allowing the extraction of various minerals, including lithium, which was previously excluded [3][4]. - The company faced production halts due to regulatory issues regarding lithium resource development, but plans to resume operations once new mining licenses are obtained [4][5]. - Zangge Mining aims to produce 11,000 tons of lithium carbonate in 2025, with production plans contingent on the timely renewal of mining licenses [4][5].

Group 1 - The core viewpoint of the article is that China Uranium Corporation has successfully registered its IPO on the Shenzhen Stock Exchange, marking a significant step in its business operations focused on natural uranium and radioactive co-associated mineral resources [1][3] - The company primarily engages in the mining, sales, and trade of natural uranium resources, as well as the comprehensive utilization and sales of products related to co-associated minerals like monazite and uranium-molybdenum [1] - The IPO process began with acceptance on June 20, 2024, followed by an inquiry phase on July 18, 2024, and approval on September 5, 2025, with the registration submitted on September 8, 2025 [1] Group 2 - China Uranium Corporation aims to raise approximately 4.11 billion yuan through this IPO [2]

Core Insights - The 2025 Fortune Sustainable Development Summit was successfully held in Fuzhou, focusing on the theme "Intelligent Era, Intelligent Coexistence" and gathering nearly 200 global business leaders, policymakers, and academic experts to explore sustainable development paths empowered by technology [1] Group 1: Key Themes and Discussions - The summit featured 40 speakers from various sectors including AI, internet, manufacturing, new energy, finance, and health, discussing how smart technologies can accelerate growth while avoiding excessive environmental consumption [1] - Key topics included the social responsibilities of multinational companies in a fragmented geopolitical landscape and the protection of human creativity and development rights in an algorithm-driven era [1] Group 2: ESG Practices and Globalization - Companies are encouraged to ensure that suppliers meeting ESG standards will gain more orders and global opportunities, highlighting the competitive edge of Chinese suppliers in quality, cost, and delivery [6] - The urgency for green and low-carbon transformation in the chemical industry is emphasized, aligning with national dual carbon goals and the increasing demand for green materials from international brand clients [6] Group 3: Sustainable Consumption and Corporate Responsibility - The importance of circular economy practices is highlighted, where manufacturers must innovate in product design and lifecycle management, while consumers are also encouraged to participate in sustainable practices [30] - The wine industry is recognized as a participant in environmental practices, emphasizing the necessity of establishing a good ecological environment as a fundamental requirement [33] Group 4: Financial Instruments and ESG Integration - Green financial products like green bonds are seen as a driving force for companies to integrate international ESG concepts into their development, effectively addressing regulatory challenges and attracting international capital [41] - Companies are advised to balance production activities with ecological diversity protection, ensuring that sustainable financial tools align with their sustainability goals [45] Group 5: Technological Innovations in ESG - The application of cutting-edge technologies such as AI and big data is crucial for enhancing ESG management, transitioning from compliance to data-driven value creation [62] - Companies are encouraged to leverage technology to improve operational efficiency and sustainability, with a focus on accurate and transparent data for ESG disclosures [68]

Core Viewpoint - China has taken a significant step by halting the purchase of iron ore from BHP in Australia priced in USD, indicating a strategic move to reclaim pricing power in the iron ore market [1][2]. Group 1: Market Dynamics - The cessation of USD-denominated iron ore purchases is seen as a tactical pause in commercial negotiations, marking the beginning of a long-awaited strategic offensive for pricing power that has been in the making for over two decades [2]. - China, as the world's largest steel producer, has historically been in a vulnerable position due to its heavy reliance on imported iron ore, primarily from Australia and Brazil, despite its dominant steel production capacity [3][4]. Group 2: Profit Disparity - The current pricing mechanism, heavily influenced by the Platts index, has led to a significant imbalance in profit distribution between upstream and downstream players, with Australian mining companies enjoying profit margins exceeding 150%, while Chinese steel producers face an average profit margin of only 0.71% in 2024 [4]. Group 3: Strategic Moves - To address the profit disparity, China has initiated a two-step strategy: first, consolidating its domestic steel industry to reduce competition and enhance bargaining power, exemplified by the merger of major steel companies [5][6]. - The second step involves seeking alternative sources of iron ore to break the existing monopoly, with significant investments in the Simandou iron ore project in Guinea, which is expected to yield high-quality iron ore and reduce dependency on Australian suppliers [7][8]. Group 4: Future Prospects - The Simandou project is projected to produce between 120 million to 150 million tons of iron ore annually, with the first shipments expected as early as November [9][10]. - This strategic pivot not only strengthens China's position in the global iron ore market but also signals a shift in the global resource landscape, potentially diminishing Australia's market share if it continues to resist cooperation [10].