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黑色建材日报-20250702
Wu Kuang Qi Huo· 2025-07-02 03:11
1. Report Industry Investment Rating No information provided in the report. 2. Core Viewpoints of the Report - The overall atmosphere in the commodity market cooled yesterday, and the prices of finished products continued to fluctuate. The majority of FOMC voters this year are more inclined to delay interest rate cuts until after July, and attention should be paid to the impact of interest rates on the global environment. China's manufacturing PMI has slightly increased, and the economy is showing positive signs. The off - season demand remains weak, and the inventories are at relatively healthy levels. There are no obvious contradictions in the static fundamentals. Future attention should be paid to tariff policies, the Politburo meeting in July, the recovery of terminal demand, and the cost - side support for finished product prices [3]. - Although the "Israel - Iran conflict" has eased and crude oil prices have fallen, the sentiment in the domestic commodity market, especially the black sector, has not significantly declined. In the short term, the improvement in sentiment continues, but from a fundamental perspective, the industry still faces an oversupply situation, future demand is expected to weaken, and there is room for cost reduction, so the downward pressure on prices remains [11]. 3. Summary by Related Catalogs Steel - **Futures Market**: The closing price of the rebar main contract was 3003 yuan/ton, up 6 yuan/ton (0.200%) from the previous trading day. The registered warehouse receipts increased by 6393 tons, and the main contract positions decreased by 48103 lots. The closing price of the hot - rolled coil main contract was 3136 yuan/ton, up 13 yuan/ton (0.416%) from the previous trading day. The registered warehouse receipts decreased by 586 tons, and the main contract positions decreased by 3081 lots [2]. - **Spot Market**: The aggregated rebar price in Tianjin was 3150 yuan/ton, down 10 yuan/ton; in Shanghai, it was 3120 yuan/ton, down 10 yuan/ton. The aggregated hot - rolled coil price in Lecong remained unchanged at 3180 yuan/ton, and in Shanghai, it was also unchanged at 3200 yuan/ton [2]. - **Fundamentals**: The apparent demand for rebar was basically the same as last week, and the increase in production slowed down the de - stocking pace. The production of hot - rolled coils decreased slightly, and the inventory started to accumulate slightly. Overall, the off - season demand remained weak, and the inventories were at relatively healthy levels [3]. Iron Ore - **Futures Market**: The main contract (I2509) of iron ore closed at 708.50 yuan/ton, with a decline of 0.98% (-7.00), and the positions decreased by 13897 lots to 65.49 million lots. The weighted positions were 107.50 million lots [5]. - **Spot Market**: The price of PB fines at Qingdao Port was 705 yuan/wet ton, with a basis of 37.93 yuan/ton and a basis rate of 5.08% [5]. - **Fundamentals**: The recent iron ore shipments decreased, and the near - term arrivals also declined. The daily average pig iron production was 242.29 tons. The terminal demand for five major steel products decreased slightly. The port throughput and port inventory increased, while the steel mills' imported ore inventory decreased slightly. In the short term, iron ore prices will fluctuate widely [6]. Manganese Silicon and Ferrosilicon - **Manganese Silicon**: On July 1, the main contract (SM509) of manganese silicon continued to decline in a narrow range, closing down 0.32% at 5624 yuan/ton. The spot price in Tianjin was 5600 yuan/ton, with a premium of 166 yuan/ton over the futures price. In the short term, it may continue to fluctuate or rebound slightly, but there is still a risk of price decline [8][10]. - **Ferrosilicon**: The main contract (SF509) of ferrosilicon gapped down and broke the upward trend since June, closing down 1.38% at 5270 yuan/ton. The spot price in Tianjin was 5350 yuan/ton, with a premium of 80 yuan/ton over the futures price. In the short term, its trend has weakened again, and there is a risk of further price decline [8][10]. Industrial Silicon - **Futures Market**: On July 1, affected by rumors of production resumption, the main contract (SI2509) of industrial silicon closed down 3.66% at 7765 yuan/ton [14]. - **Spot Market**: The price of 553 non - oxygenated industrial silicon in East China was 8200 yuan/ton, remaining unchanged from the previous day, with a premium of 435 yuan/ton over the futures main contract. The price of 421 was 8800 yuan/ton, remaining unchanged, with a premium of 235 yuan/ton over the futures main contract [14]. - **Fundamentals**: The industrial silicon market is still facing over - supply and insufficient demand. In the short term, it is recommended to wait and see rather than blindly buy at the bottom. During the price rebound, it is advisable to hedge at an appropriate position [14][15]. Glass and Soda Ash - **Glass**: The spot price in Shahe was 1130 yuan, up 4 yuan from the previous day, and in Central China, it was 1030 yuan, remaining unchanged. As of June 26, 2025, the total inventory of national float glass sample enterprises was 69.216 million heavy boxes, a decrease of 0.671 million heavy boxes (-0.96%) from the previous period, and an increase of 12.39% year - on - year. It is expected that the futures price will be weak in the medium term [17]. - **Soda Ash**: The spot price was 1190 yuan, down 10 yuan from the previous day. As of June 30, 2025, the total inventory of domestic soda ash manufacturers was 1.7688 million tons, an increase of 0.0019 million tons (0.11%) from Thursday. The demand for soda ash continued to decline. Although the supply - demand margin improved slightly, the medium - term supply was still loose, and the inventory pressure was large. It is expected that the futures price will be weak [17].
广发早知道:汇总版-20250702
Guang Fa Qi Huo· 2025-07-02 01:11
1. Report Industry Investment Ratings No investment ratings for the industries are provided in the report. 2. Core Viewpoints of the Report - The overall market shows a mixed trend with different performances across various sectors. In the financial derivatives market, stock index futures show certain resilience, while treasury bond futures are affected by the money - market conditions. Precious metals continue to rebound due to international trade and economic data. In the commodity futures market, different metals and agricultural products have their own supply - demand and price trends, and the investment strategies vary accordingly [2][6][8]. 3. Summary According to the Catalog Financial Derivatives Financial Futures - **Stock Index Futures**: On Monday, the A - share market showed a sector rotation. The red - chip sector rebounded, while the TMT sector pulled back. The four major stock index futures contracts had different price movements, and the basis spread widened. The macro situation is improving, but investors should be cautious about chasing high prices. They can lightly sell MO options with an execution price of 5900 in August - September to collect premiums [2][3][5]. - **Treasury Bond Futures**: After the cross - month period, the money - market rate dropped significantly, and treasury bond futures generally rebounded. However, they lack the momentum to break through the previous high. The focus is on whether the money - market rate can further decline, the subsequent fundamental situation, and the central bank's bond trading announcements. Short - term unilateral strategies suggest appropriate allocation of long positions on dips and taking profits near the previous high [6][7]. Precious Metals - Gold continues its upward trend due to the US tariff threat and the decline of the US dollar index. The US economic data shows the impact of tariffs on the manufacturing industry, and the labor supply is tightening. The euro - zone inflation rate is stable. The long - term upward trend of gold remains unchanged, but there are short - term uncertainties. Silver is affected by gold and has a short - term range - bound trend [8][9][12]. Container Shipping Futures (EC) - The spot prices of major shipping companies are provided, and the container shipping index shows different trends in the European and US routes. The futures market rose yesterday, and the main contract is expected to fluctuate in the range of 1800 - 2000 points. The actual price in August is not likely to drop significantly, and the subsequent price center will move up [13][14]. Commodity Futures Non - ferrous Metals - **Copper**: The COMEX - LME spread has widened again, and high copper prices have suppressed downstream purchases. The supply of copper concentrate is limited, and the demand has some resilience, but there are also potential pressures. The copper price is expected to be supported in the short term, and the main contract is expected to trade in the range of 79000 - 81000 [15][17][19]. - **Alumina**: The supply of alumina is in a state of slight surplus, and the price is expected to be weak in the medium term. The main contract is expected to trade in the range of 2750 - 3100, and investors can consider short - selling on rallies [19][20][21]. - **Aluminum**: The aluminum price is expected to fluctuate widely at a high level. The macro environment and low inventory support the price, but the consumption off - season restricts its upward space. The main contract is expected to trade in the range of 20000 - 20800 [22][23][24]. - **Aluminum Alloy**: The market of aluminum alloy shows a pattern of weak supply and demand, and the price is expected to be weak and fluctuate. The main contract is expected to trade in the range of 19200 - 20000 [24][25][26]. - **Zinc**: The zinc price rebounds due to the weakening of the US dollar, but the downstream purchasing willingness is low. The supply of zinc ore is loose, the demand is weakening, and the inventory provides some support. The long - term strategy is to short on rallies, and the main contract is expected to trade in the range of 21500 - 22500 [27][28][30]. - **Tin**: The tin price is in a high - level range - bound state. The supply is still tight, and the demand is expected to be weak. The short - term strategy is to be bullish on dips and short on rallies based on inventory and import data [30][31][33]. - **Nickel**: The nickel price is in a narrow - range oscillation. The supply is at a relatively high level, and the demand is stable but with limited growth. The inventory still exerts pressure on the price. The main contract is expected to trade in the range of 116000 - 124000 [33][34][35]. - **Stainless Steel**: The stainless - steel price is expected to be weak and fluctuate. The supply is high, the demand is weak, and the cost support is weakening. The main contract is expected to trade in the range of 12300 - 13000 [36][37][38]. - **Lithium Carbonate**: The lithium carbonate futures show a wide - range oscillation. The supply is sufficient, the demand is stable but with limited growth, and the inventory is at a high level. The main contract is expected to trade in the range of 58000 - 64000 [39][40][42]. Black Metals - **Steel**: The price of steel is slightly stable due to the rumor of production restrictions in Tangshan. The supply is at a high level but shows a slight decline, and the demand is in the off - season with a downward trend. The price of steel is affected by cost and demand expectations. Short - selling operations or selling out - of - the - money call options can be considered [42][43][44]. - **Iron Ore**: The 09 contract of iron ore may turn weak. The global shipment volume has decreased, the demand is affected by the off - season and the production - restriction policy in Tangshan. Short - selling on rallies is recommended, with the range of 690 - 720 [45][46][47]. - **Coking Coal**: The spot price of coking coal is strong, and the futures price is oscillating. The supply is expected to increase, the demand has some resilience, and the inventory is at a medium level. Unilateral short - selling of the 2601 contract of coke for hedging is recommended, and waiting for a stable trend to go long on the 2509 contract of coking coal [48][50][51]. - **Coke**: The price of coke is close to the bottom. The fourth - round price cut has been implemented, the supply is expected to increase, and the demand will slightly decline. The inventory is at a medium level. Unilateral short - selling of the 2601 contract of coke for hedging is recommended, and waiting for a stable trend to go long on the 2509 contract of coke [52][54][55]. Agricultural Products - **Meal Products**: The US soybean market is in a bottom - grinding state, and the support at the bottom is strengthening. The domestic soybean and soybean meal inventories are rising, and the market is waiting for the determination of the demand trend. Short - term bottom - grinding and long - position opportunities on dips can be focused on [56][57][59]. - **Pigs**: The spot price of pigs is oscillating strongly, but the futures price is under pressure due to profit - taking. The secondary fattening inventory is increasing, and the market sentiment is expected to be strong in the short term, but the 09 contract is under pressure [60][61][62]. - **Corn**: The spot price of corn is stable, and the import auction has a premium, which supports the futures price. The supply is tight in the long term, and the demand is gradually increasing. The overall trend is upward, but the pace is slow [63][64].
美国通胀可能卷土重来:申万期货早间评论-20250630
申银万国期货研究· 2025-06-30 00:49
Group 1 - The core viewpoint of the article highlights the potential resurgence of inflation in the U.S. due to trade policies and economic uncertainties, urging central banks to focus on their core missions to maintain market trust and enhance policy effectiveness [1] - The A-share market has shown a positive trend, with the Shanghai Composite Index reaching a new high for the year, and the Shenzhen Component Index and ChiNext Index increasing by 3.73% and 5.69% respectively [1] - Analysts suggest that upcoming mid-year reports from listed companies will create structural investment opportunities, with a focus on sectors with strong performance and high safety margins, such as consumer goods and innovative pharmaceuticals [1] Group 2 - The shipping index for the European route has shown fluctuations, with the SCFI European line increasing by $195/TEU to $2030/TEU, reflecting the pricing situation for July [2] - The U.S. stock market indices have risen, with significant trading volume, indicating a potential upward breakout in the A-share market, particularly for the CSI 500 and CSI 1000 indices supported by technology policies [3][9] - The glass and soda ash markets are currently in a phase of inventory digestion, with soda ash production inventory decreasing by 152,000 tons, while glass production inventory increased by 70,000 boxes [4][15] Group 3 - International news includes President Trump's comments on not needing to extend the deadline for countries to reach agreements to avoid higher tariffs, criticizing the Federal Reserve's interest rate policies [5] - Domestic news reports that China has conditionally resumed imports of seafood from certain regions in Japan following monitoring of the Fukushima nuclear wastewater situation [6] - Industry news from the 2025 Listed Companies Forum indicates ongoing reforms in major exchanges, with a notable trend of A+H listings expected to increase [7][8]
中东局势升级:申万期货早间评论-20250623
申银万国期货研究· 2025-06-23 00:52
Group 1: Geopolitical Situation - The U.S. President Trump announced that Iran's nuclear facilities have been "completely destroyed," aiming to eliminate Iran's uranium enrichment capabilities to curb nuclear threats [1] - Iran's Islamic Revolutionary Guard Corps warned of severe retaliation against U.S. interests in the Middle East, and there are discussions in Iran's parliament about potentially closing the Strait of Hormuz [1][5] - The market is concerned about escalating tensions in the Middle East due to U.S. involvement, leading to a bullish opening in Middle Eastern stock markets on June 22 [1] Group 2: Financial Market Overview - U.S. stock indices predominantly declined, with small-cap stocks weakening, while China's major indices remain at low valuation levels, suggesting a favorable long-term investment environment [2][9] - The financing balance in China decreased by 7.479 billion yuan to 1.80918 trillion yuan as of June 19 [2] Group 3: Oil Market Insights - Oil prices rose approximately 2.5% following U.S. attacks on Iran's nuclear facilities, with Iran's parliament agreeing to potentially block the Strait of Hormuz [3][11] - The number of active oil drilling rigs in the U.S. fell to 438, the lowest since October 2021, down by one from the previous week and down by 47 year-on-year [3][11] Group 4: Precious Metals Analysis - Gold and silver prices continued to retreat amid escalating Middle Eastern tensions and a hawkish stance from the Federal Reserve, which has not yet made significant moves despite ongoing inflation concerns [4][17] - The market is currently anticipating a potential easing of trade conflicts, but the ongoing geopolitical situation in the Middle East continues to provide long-term support for gold prices [4][17] Group 5: Industry-Specific News - The domestic gold jewelry processing industry faces long-term challenges due to declining marriage and birth rates, which are expected to reduce the rigid demand for gold jewelry [8] - The overall demand for gold jewelry, driven by weddings and childbirth, accounts for over 30% of the domestic gold jewelry market, and a continued decline in this demand could lead to overcapacity in the industry [8]
这边风景独好:申万期货早间评论-20250521
申银万国期货研究· 2025-05-21 00:30
Core Viewpoint - The article emphasizes the importance of maintaining a stable and positive economic environment in China amidst a turbulent international situation, advocating for a moderately loose monetary policy to support effective financing needs of the real economy [1]. Group 1: Market Overview - The US stock indices experienced slight declines, with the beauty care sector leading gains and the defense sector lagging [2][8]. - The total trading volume in the market reached 1.21 trillion yuan, with notable increases in financing balances [2][8]. - Current valuation levels of major indices in China remain low, suggesting a favorable cost-performance ratio for medium to long-term capital allocation [2][8]. Group 2: Bond Market - The yield on the 10-year government bond rose to 1.665%, with a net injection of 177 billion yuan by the central bank [3][9]. - The LPR was lowered by 10 basis points, indicating a shift towards a more accommodative monetary policy [5][9]. - The overall economic environment is still in a transition phase, with real estate investment continuing to decline [3][9]. Group 3: Commodity Insights - Copper prices saw an increase, driven by stable domestic demand and growth in power investment [3][16]. - Gold imports in China surged by 73% in April, reaching a new high for the past 11 months, indicating strong demand in the precious metals market [6]. - The aluminum market is facing potential supply issues due to geopolitical factors, while nickel prices are expected to remain stable amid tight supply conditions [19][20]. Group 4: Agricultural Products - The soybean market is experiencing a recovery in supply due to increased imports, while domestic soybean meal supply is expected to rise significantly [26]. - Corn prices are on a downward trend, influenced by high inventory levels and weak downstream demand [27]. - Cotton prices are fluctuating due to macroeconomic factors and ongoing trade negotiations, with a focus on new order developments [28]. Group 5: Shipping Index - The European shipping index is experiencing fluctuations, with recent price adjustments reflecting a return to fundamental market conditions [29].
原油大跌,集运偏强
Shen Yin Wan Guo Qi Huo· 2025-05-15 13:31
Report Information - Report Date: May 15, 2025 [2] - Report Issuer: Shenyin Wanguo Futures Co., Ltd. [2] Industry Investment Ratings The provided content does not mention any industry investment ratings. Core Views - For stock index futures, it is advisable to take a predominantly bullish stance, while for stock index options, a long straddle strategy can be used to capture the trending market after the direction is determined [2][8] - The price of Treasury bond futures has declined, and short - term fluctuations may increase [9] - The natural rubber market is expected to be in a weak and volatile state [10] - The short - term outlook for methanol is bullish [12] - Glass and soda ash are in a cycle of inventory digestion, and attention should be paid to their supply - demand digestion process and the impact of the overall commodity market on the real estate chain [13] - After a phased rebound, polyolefins may enter a high - level oscillatory consolidation phase in the future [14] - The fundamentals of coking coal continue to deteriorate, and for coke, there are expectations of a price cut [15] - Gold has entered a correction phase, and silver lacks upward momentum [17] - Copper and zinc prices may fluctuate widely in the short term [18][19] - Shanghai aluminum is expected to be in a slightly bullish and oscillatory state, while nickel may follow the non - ferrous metal sector and show a slightly bullish and oscillatory trend [20][22] - The overall price of edible oils has declined, while protein meals are in a slightly bullish and oscillatory state [23][24] - Corn and corn starch may enter an oscillatory phase in the short term, and cotton is expected to be slightly bullish in the short term [25][27] - The freight rate of the European container shipping line may increase, and the 08 contract is expected to remain strong [28] Summary by Directory 1. Main News Concerns of the Day International News - Oil prices dropped on Thursday due to expectations of a possible US - Iran nuclear agreement and an unexpected increase in US crude inventories last week [5] Domestic News - The CSRC will launch a new round of capital market reforms and introduce a package of policies to deepen the reforms of the Science and Technology Innovation Board and the Growth Enterprise Market [5] Industry News - In early May 2025, the steel inventory of key steel enterprises increased compared to the previous period, with different trends in various regions [6] 2. Closing Comments on Major Varieties Financial Futures - Stock index futures declined, but short - term positive factors are present, and the valuation of major domestic indices is low [2][8] - Treasury bond futures showed mixed performance, and short - term fluctuations may intensify due to various factors such as the progress of Sino - US talks and economic data [9] Energy and Chemical - Rubber prices declined, and the market is expected to be in a weak and oscillatory state due to factors such as the progress of the harvest season and inventory [10] - Crude oil prices dropped, and attention should be paid to the impact of low oil prices on US sanctions against Venezuela and Iran [2][11] - Methanol prices decreased slightly, but the short - term outlook is bullish [12] - Glass and soda ash futures are in a consolidation phase, and attention should be paid to their supply - demand digestion and the impact of the overall market [13] - Polyolefins are in a consolidation phase, and after a phased rebound, they may enter a high - level oscillatory consolidation phase [14] Black Metals - Coking coal and coke prices are affected by macro - favorable factors, but the fundamentals of coking coal are deteriorating, and coke prices may face a cut [15] Metals - Gold and silver prices declined, and they are in a correction phase [17] - Copper, zinc, and other metal prices may fluctuate widely in the short term, and attention should be paid to factors such as US tariff negotiations and exchange rates [18][19] - Shanghai aluminum prices rose slightly, and it is expected to be in a slightly bullish and oscillatory state [20] - Nickel prices declined slightly, but it may follow the non - ferrous metal sector and show a slightly bullish and oscillatory trend [22] Agricultural Products - Edible oil prices declined due to factors such as the extension of the US clean fuel tax credit policy and the MPOB report [23] - Protein meal prices are in a slightly bullish and oscillatory state due to factors such as the USDA report and Sino - US talks [24] - Corn and corn starch prices may enter an oscillatory phase in the short term, and attention should be paid to factors such as imports and demand [25] - Cotton prices are expected to be slightly bullish in the short term, and attention should be paid to factors such as new orders [27] Shipping Index - The European container shipping line showed a strong performance, and the 08 contract is expected to remain strong due to factors such as the easing of Sino - US tariff frictions [28] 3. Daily Views on Varieties The report provides a summary of the views on various varieties, including bullish, bearish, and neutral stances [29] 4. Daily Price Changes of Major Varieties The report presents the latest closing prices, price fluctuations, trading volumes, open interests, and other data of various varieties [30]
中央政治局会议释放积极信号:申万期货早间评论-20250428
申银万国期货研究· 2025-04-28 01:01
贵金属: 连续上涨后黄金步入调整。上周美国总统特朗普释放缓和信号,一方面表示尽管他对美联储 未能更快地降低利率感到沮丧,但他无意解雇美联储主席鲍威尔。另一方面称对华关税将 " 大幅下降 " 。周末有报道称,首个贸易协议即将达成,并且很可能会是与印度签署。克利夫兰联储主席哈马克上周 四在接受采访时表示,美联储 5 月已基本排除降息可能。但她同时释放关键信息称,若经济走向有了明 确证据, 6 月存在采取政策行动的空间。美国财长贝森特最新演讲阐述中美达成贸易协议的可能框架, 称需 2-3 年。此前,特朗普一再要求美联储降息,并研究能否免去鲍威尔的美联储主席职务,并引发市 场恐慌。而随着贸易战的扰动,引发一系列的连锁反应,金融市场动荡、衰退风险加剧、去美元化、美 国债务等问题愈发凸显,伴随政策和市场的不确定性,黄金价格持续刷新历史新高。考虑美国债务压力 进一步凸显,滞胀形式进一步明确下,黄金整体维持强势,但近期在贸易战没有进一步烈化、特朗普和 美联储态度软化、滞胀预期一定程度消化、多头较为拥挤下,黄金或面临调整压力。 集运指数: 上周五 EC 低开震荡, 06 合约收于 1365.1 点,下跌 2.92% 。盘后公布 ...
关税政策摇摆,市场波动加大:申万期货早间评论-20250424
申银万国期货研究· 2025-04-24 00:54
首席点评: 原油反弹,黄金回落 特朗普称或将"大幅降低"对华关税,中国外交部:打,奉陪到底;谈,大门敞开。中国外交部发言人郭 嘉昆强调,如果美方真的想通过对话谈判解决问题,就应该停止威胁讹诈,在平等、尊重、互惠的基础 上同中方对话。一边说要同中方达成协议,一边不断搞极限施压,这不是同中方打交道的正确方式,也 是行不通的。美国 4 月 Markit 综合 PMI 超预期下降创 16 个月新低,信心挫、价格涨,制造业 PMI 不 降反升好于预期。数据表明, 4 月美国商业活动增长降至 16 个月低点,对未来一年商业前景的预期也 下降至自疫情以来最低之一;商品和服务的销售价格上涨幅度为一年多来最大,尤其是制造品价格大幅 上涨,与关税有关。就业指数低迷。 重点品种:原油、贵金属、橡胶 原油 : SC 夜盘回落 2.25% 。有消息援引哈萨克新任命的能源部长的话说,在决定石油产量水平时, 哈萨克斯坦将优先考虑国家利益,而非欧佩克及其减产同盟国的利益。他还表示,该国未能减少三大产 油项目的石油产量,因为这些项目为海外巨头控制。路透社援引三位熟悉欧佩克及其减产同盟国会谈的 消息人士的话说,一些成员国将建议该集团在 6 月份 ...
五矿期货文字早评-20250421
Wu Kuang Qi Huo· 2025-04-21 01:45
文字早评 2025/04/21 星期一 宏观金融类 股指 前一交易日沪指-0.11%,创指+0.27%,科创 50-0.81%,北证 50+1.97%,上证 50-0.08%,沪深 300+0.01%, 中证 500+0.07%,中证 1000-0.13%,中证 2000-0.20%,万得微盘-0.02%。两市合计成交 9147 亿,较上 一日-848 亿。 宏观消息面: 1、国常会:研究稳就业稳经济推动高质量发展的若干措施,要持续稳定股市,持续推动房地产市场平 稳健康发展。 2、白宫将设工作组紧急处理对中国加征关税危机,特朗普称 1 个月内会与中国达成协议。 3、特朗普又喊话降息,白宫顾问承认在研究解雇鲍威尔。 资金面:融资额-87.08 亿;隔夜 Shibor 利率+2.60bp 至 1.6600%,流动性较为宽松;3 年期企业债 AA- 级别利率-0.10bp 至 3.0824%,十年期国债利率-0.27bp 至 1.6490%,信用利差+0.17bp 至 143bp;美国 10 年期利率+5.00bp 至 4.34%,中美利差-5.27bp 至-269bp。 市盈率:沪深 300:12.26,中证 5 ...
油价走弱,金价续涨:申万期货早间评论-20250421
申银万国期货研究· 2025-04-21 01:10
报告日期: 2025 年 4 月21 日 申银万国期货研究所 首席点评: 油价走弱,金价续涨 研究稳就业稳经济推动高质量发展的若干措施,要持续稳定股市,持续推动房地产市场平稳健康发展。 据新华社,会议指出,加大逆周期调节力度,着力稳就业稳外贸,着力促消费扩内需,着力优结构提质 量,做强国内大循环,推动经济高质量发展。中国商务部回应美方海事、物流和造船领域 301 调查。商 务部发言人称,中方敦促美方尊重事实和多边经贸规则,遵守市场经济和公平竞争原则,停止"甩锅推 责",尽早纠正错误做法。中方将密切关注美方有关动向,并将坚决采取必要措施维护自身权益。 重点品种: 股指,原油,贵金属 原油 : SC 夜盘上涨 0.33% 。欧佩克周三在网站上发布消息说,已收到伊拉克、哈萨克斯坦和其他国 家进一步减产的最新计划,以弥补以前超过配额的产量。据计算,最新计划要求七个国家从现在到 2026 年 6 月期间,每月额外减少日产量 36.9 万桶。根据最新补偿计划,从本月到 2026 年 6 月,每月减 产量将从每日 19.6 万桶到 52 万桶不等,高于此前的每日 18.9 万桶至 43.5 万桶。贝克休斯公布的数据 显示, ...