"我清空了美股，但我绝不会卖掉金银铜。"在全球金融局势波谲云诡的2026年开年，现年84岁的"商品 大王"吉姆·罗杰斯（Jim Rogers）给出了他的生存指南。 这位传奇投资家26岁只身闯荡华尔街，早在上世纪80年代就以精准抄底奥地利股市而一战成名，并曾准 确预测1987年全球股灾和2008年美国次贷危机。 2025年12月，吉姆·罗杰斯再次对全球经济发出警告。他认为，美国作为世界历史上最大的债务国，其 高达38万亿美元的国债规模正将国家引向深渊，并预言下一次危机将是他"一生中见过的最惨烈的一 次"，其根源在于全球令人窒息的债务规模。 2026年2月6日，《每日经济新闻》记者（以下简称NBD）对吉姆·罗杰斯进行了专访。在访谈中，他详 细阐述了自己对潜在危机的看法、具体的避险策略以及看好金属的底层逻辑。 面对潜在的危机，吉姆·罗杰斯透露，他已经清空了全部美股持仓，转而将黄金、白银和铜等实物商品 视为"完美的保险单"，并计划将其作为遗产留给后代。 谈商品：金银铜将是"避难所" 吉姆·罗杰斯：我建议每个人都应该在手里握有一些黄金和白银。因为在每个人的一生中，金银都会起 到至关重要的作用。如果未来局势恶化，它们将是 ...

Group 1 - The successful flight test of the Long March 10 rocket and the Dream Boat crewed spacecraft marks a significant milestone in China's manned lunar exploration program [1][9] - The Long March 10 rocket's first stage safely splashed down in the designated sea area as per the planned procedure [3][11] Group 2 - Ant Group has released the Ming-Flash-Omni 2.0, the industry's first unified audio generation model capable of generating voice, environmental sounds, and music simultaneously on the same audio track [5][11] - The model allows users to control various audio parameters such as tone, speed, pitch, volume, emotion, and dialect using natural language commands [5][11] Group 3 - The A-share market showed mixed results, with the Shanghai Composite Index up by 0.09% and the ChiNext Index down by 1.08% [14] - Small metals, oil and gas extraction, and chemical sectors saw active performance due to price increases, while sectors like film and tourism experienced declines [14] Group 4 - Tianji Co. received a notice from the China Securities Regulatory Commission regarding an investigation into suspected violations of information disclosure laws [15]

Group 1 - The market has recently experienced significant volatility due to Trump's nomination of Kevin Warsh as the next Federal Reserve Chairman, leading to misinterpretations of his policies [1][3] - Warsh's approach is seen as a tool for a major economic overhaul in the U.S., focusing on supply-side reforms rather than traditional demand management [3][4] - The strategy of lowering interest rates while simultaneously reducing the balance sheet is aimed at alleviating the federal government's interest burden and promoting real economic expansion [4][5] Group 2 - Warsh's independence and reputation in Wall Street make him a suitable choice for Trump, as he can handle difficult tasks while being acceptable to various stakeholders [7][8] - Warsh's hawkish stance on inflation and market volatility is intended to reassure international capital that the U.S. Federal Reserve remains credible, which could attract global investment [9][10] - The anticipated economic transformation under Warsh's leadership is expected to lead to increased capital expenditures and a resurgence in U.S. manufacturing, despite potential short-term market turbulence [10][11] Group 3 - The upcoming changes in economic policy are likely to benefit industrial metals like copper and aluminum, while also supporting the long-term value of precious metals like gold [11][12] - U.S. companies that can enhance their competitiveness through increased capital spending are expected to experience a new growth phase [12]

在全球股市波动加剧的背景下，投资者正加速将资金从金融资产转向大宗商品等硬资产以寻求避险。高 盛大宗商品研究团队指出，这种"硬资产轮动"可能推动多种金属价格在更长时间内维持高位，甚至超出 其实物供需基本面所支撑的水平。 高盛分析师表示，客户对话显示，在宏观与地缘风险上升的驱动下，投资者分散配置硬资产的意愿已成 为本轮商品行情的关键推动力。硬资产通常指大宗商品、房地产、基础设施等有形实物资产，其在通胀 及不确定性环境下的保值属性，正吸引资金从股票、债券等传统金融资产中分流。 研究指出，贵金属和铜在此轮轮动中的上涨潜力高于石油和天然气。高盛维持对黄金2026年12月5400美 元/盎司的目标价，并认为私人部门的资产分散需求可能带来上行动力。铜价同样受惠于硬资产轮动及 战略储备需求，价格具备上涨基础。 继2025年金属市场反弹后，多数大宗商品在2026年初延续了强劲而波动的走势。高盛分析认为，投资者 持续的资产配置调整可能使部分金属（如铜）价格长期处于高位，形成结构性溢价。 硬资产轮动的价格推动机制 该行分析认为，相比石油和天然气，贵金属与铜在此轮配置转移中更具价格上涨潜力，主要基于三方面 结构性原因：首先是市场深度 ...

这位传奇投资家26岁只身闯荡华尔街，早在上世纪80年代就以精准抄底奥地利股市而一战成名，并曾准 确预测1987年全球股灾和2008年美国次贷危机。 2025年12月，吉姆·罗杰斯再次对全球经济发出警告。他认为，美国作为世界历史上最大的债务国，其 高达38万亿美元的国债规模正将国家引向深渊，并预言下一次危机将是他"一生中见过的最惨烈的一 次"，其根源在于全球令人窒息的债务规模。 "我清空了美股，但我绝不会卖掉金银铜。" 在全球金融局势波谲云诡的2026年开年，现年84岁的"商品大王"吉姆·罗杰斯（Jim Rogers）给出了他的 生存指南。 NBD：在你的投资组合中，白银的仓位是否已经超过了黄金？ 2026年2月6日，《每日经济新闻》记者（以下简称NBD）对吉姆·罗杰斯进行了专访。在访谈中，他详 细阐述了自己对潜在危机的看法、具体的避险策略以及看好金属的底层逻辑。 面对潜在的危机，吉姆·罗杰斯透露，他已经清空了全部美股持仓，转而将黄金、白银和铜等实物商品 视为"完美的保险单"，并计划将其作为遗产留给后代。 谈商品：金银铜是"避难所"，不交易、只持有 NBD：2026年开年以来，国际金价剧烈波动，你怎么看？ 吉姆 ...

Core Insights - Trade shows have become essential platforms for companies in the metal industry to showcase their strengths and expand business opportunities in competitive markets [1] - Customized exhibition stands serve as a critical bridge connecting companies with clients, technology with the market [1] Group 1: Unique Needs and Trends in the Metal Industry - The metal industry encompasses a wide range of products, requiring exhibition designs that balance practicality, technical communication, and brand professionalism [3] - There is a shift from simple product displays to comprehensive solution showcases, with visitors seeking to understand material properties, processing technologies, application scenarios, and sustainability [3] - Customized designs must translate the unique characteristics and goals of each metal company into tangible spatial experiences [3][4] Group 2: Design Philosophy and Technical Integration - Exhibition designs in the metal industry must balance industrial and modern aesthetics, incorporating materials like glass and multimedia to create an attractive atmosphere [6] - Special display methods are necessary for heavy equipment and precision components, highlighting the value of customized stands in addressing industry-specific needs [6] - Digital technologies, such as augmented reality and interactive screens, enhance visitor engagement and expand information capacity [6] Group 3: Sustainability and Cost-Effectiveness - The trend towards sustainability is increasingly important, with many exhibition stands using recyclable materials and energy-efficient systems [6] - Customized designs also focus on long-term value through modular components that can be reused across multiple exhibitions, maximizing investment returns [7] Group 4: Shanghai's Unique Characteristics and Global Perspective - Shanghai's exhibitions are characterized by internationalization and professionalism, requiring metal companies to showcase both local strengths and global competitiveness [9] - Exhibition designs must cater to a diverse audience, including domestic and international buyers, industry experts, and media representatives, necessitating clear and layered information delivery [9] Group 5: Lasting Business Connections - Successful exhibition stands create lasting impressions and business opportunities beyond the event, emphasizing the importance of professional and innovative designs [10] - The exhibition serves as a first point of contact for potential clients, where a well-designed stand communicates quality standards and service philosophies [10] - Customized exhibition stands in the metal industry are integral to strategic expression and market communication, maximizing the display of value potential within limited space and time [10][11]

Group 1 - The core disturbance in January industry data is attributed to the timing of the Spring Festival, which significantly affects production, consumption, and export data compared to the previous lunar year [1][5][12] - The production sector shows an overall weakness compared to the same lunar period last year, with notable contraction in construction-related segments, while manufacturing exhibits divergence in performance [1][12] - Consumption patterns reveal significant declines in real estate transaction areas, while overall commodity consumption remains relatively stable, with variations in service consumption [1][13] Group 2 - The impact of the Spring Festival timing extends beyond January, potentially suppressing March production and investment data during the peak season [2][20] - The construction sector's new project initiation is expected to continue its downward trend due to ongoing inventory reduction policies, which will affect the overall recovery pace post-holiday [3][20] - Despite a more proactive fiscal policy and faster issuance of special bonds, the recovery in production and investment post-holiday is anticipated to be limited compared to previous years [3][20] Group 3 - In the energy and resources sector, coal supply constraints due to production cuts and holiday shutdowns have led to price fluctuations, while metal demand shows improvement [4][25] - The real estate sector remains under pressure with low transaction volumes and investment levels, impacting demand for construction materials [4][34] - The financial sector shows high activity in the A-share market, with insurance premium income experiencing a year-on-year decline, while new credit issuance exceeds expectations [4][34] Group 4 - The manufacturing sector continues to show strong growth in machinery and heavy truck sales, benefiting from domestic equipment renewal policies and demand from emerging markets [4][34] - Consumer spending remains stable overall, but demand for durable goods is under pressure due to high base effects and policy rollbacks [4][34] - The TMT sector is experiencing multiple catalysts from both industry and policy perspectives, while the new energy sector sees a decline in domestic sales but strong export growth [4][34]

Group 1 - The core finding of the survey indicates that German SMEs are avoiding the US market due to the impact of US tariffs and uncertainty regarding US government policies [1] - 12% of respondents reported direct impacts from US tariffs, while 44% experienced indirect effects, with the metal, automotive, and mechanical engineering sectors being the most affected [1] - Nearly 25% of respondents in the affected sectors indicated direct impacts from US tariffs, and 61% reported indirect impacts through suppliers [1] Group 2 - Approximately one-quarter of SMEs expressed concerns about planning uncertainties due to fluctuating US policies, with 33% of companies earning €50 million or more particularly affected [1] - The willingness of German SMEs to exit the US market and refocus on domestic markets has increased, with only 9% planning to expand in the US, a decrease of 3% from the spring 2024 survey [1] - 18% of companies expect the role of the US market to diminish, an increase of 9% compared to the spring 2024 survey, while over half of the German companies plan to shift their business focus back to the domestic market [1]

此次锡价波动属于全球大宗商品价格日常变动范畴，相关产业端暂未披露针对该价格变动的直接应对举 措。 市场有风险，投资需谨慎。本文基于第三方数据整理，仅供参考，不构成任何投资建议。 伦敦金属交易所（LME）锡价上涨逾5%，至每公吨49175美元。 锡作为电子焊接环节的关键原材料，广泛应用于半导体封装、人工智能服务器及数据中心建设等领域， 其价格变动通常与全球科技产业的景气程度存在关联。当前全球范围内对AI相关基础设施的投资热度 持续攀升，带动上游原材料市场需求出现阶段性变化。 本文源自：市场资讯 作者：观察君 ...

Currie估计，如果国际制裁立即解除，可能会有多达1亿桶原油重新进入市场。但他补充说，这种情况 难以实现，"没有人预期会发生"。 凯雷集团的能源路径首席战略官Jeff Currie表示，石油和金属市场"投资严重不足"，有巨大的上涨空 间。他还指出，长期以来令油价承压的供应过剩说法被夸大了。 "如果你需要费尽心思搜集数据才能找到石油供应过剩的证据，那就说明石油供应根本不过剩，" Currie 周一在接受采访时表示。"真正的供应过剩会像大锤砸头般显而易见。" 今年以来，纽约原油价格已上涨超过10%，位于每桶64美元附近，这与华尔街分析师长期警告的供应过 剩将压垮油价的预测截然相反。预测与现实之间的巨大差距，在很大程度上要归因于受制裁的俄罗斯原 油滞留海上——这部分供应的确存在，但只有少数几个国家愿意购买——中国吸收了大部分的过剩供 应。 凯雷集团的Jeff Currie表示，石油和金属市场"投资严重不足"，有巨大的上涨空间。 价格也受到一系列利好因素的支撑，包括华盛顿和德黑兰之间的紧张局势、黑海一个重要出口终端运营 中断以及美国冬季风暴的影响。 Currie称，地缘政治风险上升正引发各类大宗商品囤积潮，推动资金 ...