Core Viewpoint - Goldman Sachs predicts that aluminum prices may drop to $2,100 per ton by early 2026 due to accelerated supply from Indonesia, which will lead to significant oversupply in the market [1] Group 1: Price Forecast - The expected increase in production from three Indonesian smelters, each with a capacity of 500,000 tons, will result in a surplus of 1 million tons in 2026, marking the largest oversupply since 2020 [1] - The price forecast for aluminum in 2026 and 2027 has been revised down from $2,540 and $2,800 to $2,230 and $2,500 per ton, respectively [1] Group 2: Market Dynamics - The decline in cost prices, weak alumina prices, and energy prices will exert downward pressure on aluminum prices in 2026 [1] - As the market rebalances, prices are expected to rise to a range of $2,150 to $2,550 per ton in the following years [1]

金十数据6月3日讯，花旗发表研究报告指，将中国铝业(02600.HK)今明两年的净利润预测分别下调8% 及5%，分别达129亿及140亿元人民币，并预期2027年的净利润为147亿元人民币。该行将中国铝业目标 价由8.89港元下调至7.6港元，维持"买入"评级。因预测今年股息率达7%属吸引及潜在回购，考虑到集 团股东回报政策的潜在变化，对集团开启30天正面催化观察。 花旗：降中铝目标价至7.6港元 憧憬股份回购开启30天正面催化观察 ...

另一边厢，贵金属和金属原材料简直爆拉！世纪铝业涨超21%，黄金资源股涨16%，连白银都飙了5%以上。纽约期金直接重返3400美元上方，现货黄金 涨到3380美元附近。这明显是资金往避险资产跑啊，可能大家伙儿心里还是惦记着全球那些不确定因素，黄金白银成了"安全垫"。 中概股这边多数涨，但分化也不小：百度、京东涨超1%，可理想汽车、知乎却跌超1%。中长线看，中概股的逻辑还是得跟国内经济复苏节奏走，别光看 美股短期波动。 兄弟们，我是帮主郑重。今天咱聊聊周一美股这行情——道指又涨了，还是三连涨呢！但有意思的是，美国5月ISM制造业PMI都创去年11月以来新低 了，贸易紧张的事儿也没消停，可资金愣是往市场里冲，这背后啥逻辑？咱慢慢捋。 先说大盘，道指小涨0.08%，纳指涨得更带劲，0.67%，标普500也涨了0.41%。但科技股这块儿明显分化了：七巨头里Meta猛涨3.6%，AMD、超微电脑都 涨超3%，英伟达也跟涨1.7%，可特斯拉和谷歌却跌超1%。尤其苹果，现在市值3万亿美元，但今年累计跌了快20%了。这说明啥？中长线资金在科技股 里正挑肥拣瘦呢，不是所有龙头都吃香，得看业绩确定性和估值性价比。 原油和天然气也凑 ...

Core Viewpoint - The U.S. has announced an increase in tariffs on imported steel and aluminum from 25% to 50%, which has sparked strong reactions globally and raised concerns about its impact on various industries and economies [1][2][4]. Group 1: Impact on Global Trade - The increase in tariffs is seen as a direct attack on Canadian industry and workers, with warnings that it could exclude Canadian steel and aluminum from the U.S. market, risking thousands of jobs [2][3]. - The European Union has expressed strong regret over the tariff hike, stating it adds uncertainty to the global economy and increases costs for consumers and businesses on both sides of the Atlantic [2][3]. - South Korea's steel exports to the U.S. account for 13.1% of its total steel exports, prompting urgent discussions among industry leaders to mitigate the impact of the tariff increase [3]. Group 2: Economic Consequences - The tariffs are expected to significantly raise U.S. steel prices, further squeezing domestic industries such as automotive and construction that rely on steel and aluminum as key materials [5][6]. - The Boston Consulting Group estimates that the initial 25% tariffs would increase U.S. steel and aluminum import costs by $22 billion, with derivative product costs rising by an additional $29 billion [4]. - Experts warn that the lack of a solid basis for the tariff adjustments and the resulting uncertainty could harm U.S. businesses and consumers, undermining the government's stated goal of protecting jobs [5][6]. Group 3: Consumer Impact - The tariff increase is likely to lead to higher prices for consumer goods, particularly those packaged in aluminum and steel, such as canned foods and beverages [7]. - The U.S. can manufacturers are expected to pass on the increased costs to consumers, potentially affecting millions of American households [7]. - The chain reaction of rising costs across multiple industries is anticipated, with experts suggesting that the policy will not effectively promote long-term recovery of U.S. manufacturing [7].

Core Viewpoint - The article discusses the recent performance of the U.S. stock market, particularly focusing on the decline of major indices and the impact of U.S. tariffs on steel and aluminum imports, which has led to significant gains in the steel and aluminum sectors. Market Performance - On June 2, the three major U.S. stock indices opened lower, with the Dow Jones down 0.5%, S&P 500 down 0.25%, and Nasdaq down 0.05% [1] - Specific stock performances include Tesla dropping nearly 3% due to poor sales in Europe [1][8] Steel and Aluminum Sector - Following President Trump's announcement to increase tariffs on imported steel from 25% to 50%, steel and aluminum stocks surged, with Century Aluminum rising over 28%, Cleveland-Cliffs up over 21%, and Nucor and Steel Dynamics both increasing over 10% [5][6][7] - The market response indicates a strong bullish sentiment in the steel and aluminum sectors due to the tariff hike [5] Tesla's Sales Performance - Tesla's sales in Europe were notably poor in May, with France experiencing a 67% drop, marking the lowest sales level in nearly three years. Other countries like Portugal, Denmark, and Sweden also reported significant declines in sales [8][9] - As of the latest trading session, Tesla's stock price fell by 2.69%, contributing to a year-to-date decline of 16% [9] Technology Sector Performance - In the technology sector, Nvidia rose by 1%, while Apple saw a slight increase, and Meta Platforms gained over 1%. Conversely, Amazon and Microsoft experienced minor declines, with Google down 1.59% [10][11]

2025.06. 02 本文字数：2121，阅读时长大约4分钟 作者 | 第一财经 冯迪凡 在当地时间5月30日，特朗普在美国钢铁制造城市匹兹堡的一场集会上，称将把美国进口钢铁和铝的 关税从目前的25%上调至50%。 这一表态再次搅动美国目前的双边贸易谈判。欧盟对此表示，特朗普最新的关税举措破坏了为达成协 议所做的持续努力，欧盟并就反制措施发出警告。 特朗普此前还威胁将在7月9日对欧盟加征50%关税。 对外经济贸易大学法国经济研究中心主任、巴黎索邦大学博士生导师赵永升对第一财经记者表示，目 前美欧之间，特别是特朗普所拿出的最新关税要价，是其整体谈判策略的一部分，特朗普从第一任期 开始就从钢铝产品着手同欧盟博弈，这不是一件新鲜事儿，也可以看到美方在拿捏欧盟时的渠道也非 常有限，"欧盟手中有足够的牌，因此并不着急达成协议。" 欧盟准备实施反制措施 4月，特朗普政府宣布对大多数欧盟商品征收20%的所谓"对等关税"，但后来又将关税削减至10%， 以便有时间进行谈判。 近期，特朗普对谈判的进度表示沮丧，并威胁说最快将在6月1日把关税税率提高到50%，但在同欧 委会主席冯德莱恩进行了一次 "非常愉快"的通话后，他表示将把 ...

Market Overview - US stock index futures are all down, with Dow futures down 0.33%, S&P 500 futures down 0.50%, and Nasdaq futures down 0.62% [1] - European indices show mixed results, with Germany's DAX down 0.47%, UK's FTSE 100 up 0.01%, France's CAC40 down 0.54%, and the Euro Stoxx 50 down 0.60% [2][3] - WTI crude oil prices increased by 4.24% to $63.37 per barrel, while Brent crude rose by 3.82% to $65.18 per barrel [4] Trade Policy Developments - President Trump plans to double tariffs on steel and aluminum imports from 25% to 50%, aiming to protect American workers, with new rates expected to take effect on June 4 [5] - The EU has warned that increased tariffs could jeopardize trade negotiations and lead to retaliatory tariffs on US goods [5] - Goldman Sachs indicates that the doubling of tariffs may impact the copper market, with potential increases in copper prices by $1,235 and $3,605 per ton depending on the tariff rates [5] Commodity Market Reactions - The escalation of the Russia-Ukraine conflict has led to a surge in oil prices, with both Brent and WTI experiencing significant increases [6] - Gold prices have also risen, as it continues to serve as a hedge against inflation [6] Company-Specific News - Steel and aluminum stocks are performing strongly in pre-market trading due to the anticipated tariff increases, with Cleveland-Cliffs (CLF.US) up over 27% and Nucor (NUE.US) up over 10% [7] - Meta Platforms (META.US) aims to fully automate ad creation using AI by the end of next year, with advertising expected to account for over 97% of its revenue in 2024 [8] - Apple (AAPL.US) plans to appeal against EU regulations requiring it to share user data with competitors, arguing that it threatens its intellectual property and user privacy [9] - Sanofi (SNY.US) is set to acquire Blueprint Medicines (BPMC.US) for $9.1 billion, enhancing its treatment pipeline in rare immune diseases [10] - Tesla (TSLA.US) has no immediate plans to establish a manufacturing facility in India, despite the country's new electric vehicle policies [10]

欧盟表示，特朗普最新的关税举措破坏了为达成协议所做的持续努力。 在当地时间5月30日，特朗普在美国钢铁制造城市匹兹堡的一场集会上，称将把美国进口钢铁和铝的关 税从目前的25%上调至50%。 这一表态再次搅动美国目前的双边贸易谈判。欧盟对此表示，特朗普最新的关税举措破坏了为达成协议 所做的持续努力，欧盟并就反制措施发出警告。 特朗普此前还威胁将在7月9日对欧盟加征50%关税。 对外经济贸易大学法国经济研究中心主任、巴黎索邦大学博士生导师赵永升对第一财经记者表示，目前 美欧之间，特别是特朗普所拿出的最新关税要价，是其整体谈判策略的一部分，特朗普从第一任期开始 就从钢铝产品着手同欧盟博弈，这不是一件新鲜事儿，也可以看到美方在拿捏欧盟时的渠道也非常有 限，"欧盟手中有足够的牌，因此并不着急达成协议。" 欧盟准备实施反制措施 美国自3月12日起对所有进口钢铁和铝征收25%关税。该政策招致加拿大和欧盟等贸易伙伴的批评和报 复。 欧盟已经批准了一份价值210亿欧元清单，对出口欧盟的美国商品征收关税，以回应美方钢铝关税，但 考虑到美欧正在进行贸易谈判，暂停了该关税的实施情况。 据新华社报道，特朗普在社交媒体平台"真实社交"上 ...

【重点关注】 ·据证券时报，全国多地多措并举、加强管控，严防战略矿产非法外流。其中，国家出口管制工作协调 机制办公室《加强战略矿产出口全链条管控工作总体部署》按流程审批后印发实施，贵州将严格按照 《总体部署》分工，做好相关工作；湖南省相关主管部门表示，将认真落实属地监管责任，对湖南战略 矿产出口企业进行系统摸排并建立台账，指导企业加强合规制度建设，提高企业合规意识和能力，确保 管控措施落实到位；而广西将持续做好国家战略性矿产勘查开采的监督管理，加大对无证开采、越界开 采、以采代探等非法采矿行为的查处力度，坚决防止非法开采战略性矿产非法外流。 ·数据显示，5月，上海一二手住房合计成交223万平方米，同比增长17%。今年1-5月，上海房地产市 场"量升价稳"特征凸显。 ·商务部新闻发言人就美方有关言论答记者问：中方坚决拒绝无理指责 ·5月26日-6月1日全国货运物流有序运行 ·多地多措并举严防战略矿产非法外流 ·日本首相：无意在美国关税问题上让步 ·现货黄金本周开盘走高 【国内要闻】 ·商务部新闻发言人表示，美单方面不断挑起新的经贸摩擦，加剧双边经贸关系的不确定性、不稳定 性，不仅不反思自身，反而倒打一耙，无端指 ...

Group 1 - U.S. stock index futures are down, with Dow futures down 0.43%, S&P 500 futures down 0.50%, and Nasdaq futures down 0.67% [1] - U.S. steel and aluminum stocks are rising ahead of market opening, following Trump's announcement to increase import tariffs on steel from 25% to 50%. Cleveland-Cliffs Inc. is up 25.56%, Nucor Corporation is up 8.69%, and Steel Dynamics Inc. is up 9.69% [1] - Moderna's new low-dose COVID-19 vaccine has been approved by the FDA, leading to a 4.74% increase in its stock price [1] Group 2 - Google plans to appeal a recent antitrust ruling that found it guilty of illegal monopoly in the advertising technology sector, resulting in a 0.9% drop in its stock [2] - Novartis reports strong results from clinical trials of its cancer drug Pluvicto for advanced prostate cancer patients [2] - Sanofi is set to acquire Blueprint Medicines for $9.1 billion, with Blueprint's stock rising 27.08% following the announcement [2] Group 3 - Apple has appealed against the EU's Digital Markets Act, which requires it to share user data with third-party developers, causing its stock to drop 0.76% [3] - Tesla's new car sales in Sweden fell by 53.7% year-over-year in May, with only 503 vehicles sold, leading to a 2.17% decline in its stock [3]