Group 1 - The core viewpoint of the articles indicates that the Chinese commodity market is experiencing a recovery, with the Commodity Price Index (CBPI) reaching 117.9 points in December 2025, marking a month-on-month increase of 3.2% and a year-on-year increase of 6% [1] - The report highlights that 31 out of 50 monitored commodities saw price increases in December, with lithium carbonate, refined tin, and apples leading the gains at 15.5%, 11.7%, and 8.5% respectively [1] - The non-ferrous metals sector is identified as a key driver of the index's upward movement, with the non-ferrous metals price index reported at 145.2 points, reflecting a month-on-month increase of 4.9% and a year-on-year increase of 14.8% [1] Group 2 - The report from the China Logistics and Purchasing Federation indicates that the overall operation of the commodity market in 2025 is stable, with a slight expected decline of 0.1% in the average commodity price index compared to the previous year [2] - It is noted that despite global economic recovery pressures and increased external uncertainties, the Chinese commodity market is expected to maintain a stable and positive trend [2] - Looking ahead to 2026, proactive macroeconomic policies are anticipated to support the continued recovery of the domestic economy and commodity market, alongside accelerated structural transformation of the Chinese economy, which will create new demand for commodities [2]

小K侃有色 . 我是小K，欢迎大家来扎营、吐槽，集股债商汇于一体，无分析不成文、无数学不乐趣的辣评集中营。 以下文章来源于小K侃有色 ，作者小K侃有色 文 | 小K侃有色 来源 | 小K侃有色 编辑 | 杨兰 审核 | 浦电路交易员 摘要 自4月2日对等关税以来大宗商品跳空暴跌8.88%（最高点到最低点），后随着90天暂停关税市场沿着关税缓和的路径修复了部分 下跌，目前自最低点上涨了3.92%，目前看跳空缺口修复无望。在此期间波动率快速收窄，技术上也面临20日均线的压制，静等 下一步指引。如果从板块上来看，工业品弱于农产品，工业品之于关税作用于需求远大于供给，农产品作用于供给远大于需求。 还有一个现象，这一波下跌实际上是压缩利润的，最明显的例子就是化工品相对于油品来说反弹是更弱的，扒开各个品种细分来 看也大致如此。 接下来大宗市场路向何方？我们也来唠一唠。 一、宏观上，今年也是宏观大年，不过相对于前两年来说是宏观利空年 国际货币基金组织(IMF)当地时间4月22日发布最新一期《世界经济展望报告》，将2025年全球经济增长预期下调至2.8%，较今年1月 预测值低0.5个百分点。IMF预计，2026年全球经济将增 ...