Group 1 - Meituan is expanding its shared power bank business overseas, indicating a new growth opportunity for the company [2] - The new tea beverage market is intensifying competition in the U.S., with brands like Heytea and Luckin Coffee making significant moves [3] - Shenzhen's energy storage companies are rapidly entering new markets, driven by a flexible supply chain and responsiveness to global demand [4] Group 2 - JD Logistics has launched a new overseas express delivery brand, JoyExpress, in Saudi Arabia, enhancing its service offerings in the region [7][8] - JD Technology is testing a compliant stablecoin in Hong Kong, aiming for a Q4 launch to facilitate cross-border trade [8] - Beijing Yuxin Technology Group has submitted a listing application to the Hong Kong Stock Exchange, indicating a potential IPO [8] Group 3 - UniUni has completed a D1 round financing of over $70 million, aimed at enhancing digital capabilities and logistics automation [9] - Mammotion has released its first pool cleaning robot, SPINO E1, targeting major global markets [9] - Yushu Technology has finalized its C round financing, with significant participation from major investors [10] Group 4 - Alibaba Cloud is set to launch its second data center in South Korea, expanding its infrastructure [10] - Alibaba International Station has seen a 42% year-on-year increase in platform orders, indicating strong growth in cross-border e-commerce [10] - Alipay+ has introduced a global payment solution for smart glasses, marking an innovation in mobile payment technology [10] Group 5 - OpenAI is offering discounts on its ChatGPT enterprise version, anticipating significant revenue growth from enterprise clients by 2030 [11] - Waymo plans to introduce its autonomous taxi service in New York City, expanding its operational footprint [11] - Zoox, an Amazon subsidiary, is ramping up production of autonomous taxis, with plans for a commercial launch in Las Vegas [11] Group 6 - London is actively seeking to attract more Chinese companies to list on its stock exchange amid a shrinking market [12] - The Chinese Ministry of Commerce is advancing its CPTPP membership process, aiming for deeper integration into international trade [13] - A Chinese business delegation recently visited Kazakhstan, resulting in contracts worth approximately $11 billion [13]

Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report The report provides an overview of the prices and trends of various commodities in the chemical and agricultural sectors, as well as macro - economic news and morning views on major commodities. It analyzes the supply - demand situations, price trends, and investment suggestions for different products, and also comments on the stock market and option - financial market [3][5][11]. Summary by Related Catalogs 1. Commodity Price Changes - **Chemical Products**: On June 19, 2025, among chemical products, crude oil had the highest increase with a price rise of 11.60 to 564.30, a 2.099% increase, while PX had the largest decline, dropping 34.0 to 6,954.00, a 0.487% decrease [3]. - **Agricultural Products**: Among agricultural products, yellow corn had the highest increase, rising 36.0 to 2,399.00, a 1.523% increase, and No. 1 cotton had the largest decline, dropping 70.0 to 13,470.00, a 0.517% decrease [3]. 2. Macro - Economic News - **International Tensions**: Iranian Supreme Leader Khamenei stated that Iran will not accept any "imposed peace or war" and will "not turn a blind eye" to any attacks on its territory. Israel will be "punished" if it makes serious mistakes [5]. - **Fed's Interest - Rate Decision**: The Fed kept the benchmark interest rate unchanged at 4.25% - 4.50% in its June meeting, lowered the 2025 GDP forecast to 1.4%, and raised the inflation forecast to 3%. The dot - plot shows two 25 - basis - point rate cuts in 2025 and one in 2026 [5]. - **Financial Policies**: At the 2025 Lujiazui Forum, multiple financial regulatory departments announced measures to support high - level opening up, such as the central bank's 8 initiatives for Shanghai's international financial center construction [6]. - **Expansion of QFII Participation**: Starting from the night session on June 19, QFIIs can participate in trading glass, soda ash, ferrosilicon, ethylene glycol, LPG, natural rubber, lead, and tin futures and options [6]. 3. Morning Views on Major Commodities 3.1 Agricultural Products - **Peanuts**: The peanut spot market is stable with a slight weakness. The short - term futures market will likely be weak and volatile, waiting for new drivers [11]. - **Oils and Fats**: The total trading volume of soybean oil and palm oil decreased by 55% on June 17. With a favorable US biodiesel policy and rising crude oil prices, the oil market is expected to be strong [11]. - **Sugar**: The sugar futures price has fallen below the key support of 5,700. It is recommended to short on rallies to 5,720, and pay attention to the 5,600 support [11]. - **Corn**: The corn futures price should focus on the 2,400 technical resistance. If the September contract breaks through, a light - position long can be considered, with 2,350 as the support [11]. - **Hogs**: The hog price is stable with a slight increase. The futures contract is testing the 13,800 - 14,000 resistance [13]. - **Eggs**: The egg price is stable. The futures market has a technical rebound, but the fundamental weakness remains [13]. 3.2 Energy and Chemicals - **Urea**: The urea price is rising, but the new - order follow - up has slowed. With sufficient supply, the price increase space is limited [13]. - **Caustic Soda**: The price of caustic soda in Shandong and East China is expected to decline. The 2509 contract should be treated with a medium - term bearish view [13]. - **Coking Coal**: The imported Mongolian coking coal market is weak, and the coke price may see a fourth - round cut [13]. 3.3 Industrial Metals - **Copper and Aluminum**: Copper is under pressure at the 80,000 level, while aluminum is supported by low inventory but limited by weak demand in the off - season [16]. - **Alumina**: The alumina market is relatively loose, and the price is expected to fall. The 2509 contract has a short - term rebound but a medium - term weak pattern [16]. - **Rebar and Hot - Rolled Coil**: The trading volume of rebar and hot - rolled coil has slightly improved. The supply - demand structure has improved, but the off - season demand is still under pressure [17]. - **Ferroalloys**: Silicon iron and manganese silicon had different performances on Wednesday. Silicon iron may follow the trend of finished products, and the industry can consider hedging on rallies [17][18]. - **Lithium Carbonate**: The lithium carbonate market has a supply - strong and demand - weak pattern. It is recommended to wait and see, with 59,680 as the support and 60,600 as the resistance [19]. 3.4 Option - Financial - **Stock Index**: The A - share market is in a short - term shock pattern. It is recommended to reduce long positions on rallies and wait for callbacks. Attention should be paid to the expiration of June contracts [19][20]. - **Options**: Different stock - index options have different performance in terms of trading volume, open interest, and implied volatility. Trend investors should be defensive, and volatility investors can buy wide - straddles after volatility decline [20].