????2?20????????????????????? (???)20??,????????????890???????/????????????????????????,??895???????/???

??????,???????????,???????????(??)????????2944.046?/?????,COMEX??2960.8?????????/??,???3000?????????/????

????????????????90???

20?,?????????????????????????892?/???????????????????895???????????????????????/???????892?????/??????892??/???????????????892?????????????/??,????????????1??,??????????????????90??????????

2025???1??,??800??/??2024?????????????????????,????620????????/?????

????,???????????????1???????25??,??63????????????,???836????/?????????,?786????????/????????

“??????????????????,????????????????????900?/??,???????????????????4000????????????????????”?????????????

2??????5??????????????,?,?,2024???479??????????,?2023???????24%?????????????,???????????????????????????????,?:?2615??,??7%,????????????????

????,?2025??????,????????,??????,??,????????????

????????7????????

2025?,?????????

2025????????????Wind

1???30??,COMEX????????????3%,???????????????2853.2????/???????????????,??????????????2793??????????/??,??1.26%?

1?31??????,??????2817??/??????????,???,COMEX??2862.9????/??

2?5??,??????2870????/?????,??2877.04?/????,?1%;COMEX??2900?/???,???????????

2?7??,??2886.79????/???????????,COMEX??2910.60???/?,??????????

2????????10????????????,????2910???/????,?1.72%;COMEX???????2916.5?/?,??????1%?

2??????????????11?,??2942.71?/?,COMEX???????2968.5?/?????,???????

2?19???????????????,????????,?2946.99??/??,COMEX????????????????2964.4???/?????????????????????????????????

????????,2025?,??7???

??,??????????????,???????????2024?GDP????,?????????,?????????,???????????????????,?,????????????,2024????????????????1000??????,???????,????,?,??

2??7?,????,?:?ETF?????????????????????,?????????????????????A????????????????,?A????????????????

????????????

????????,??,??????????????,?,????,??

2?7??,??????????,?,??,????????????????????,??????????,?????????

2??????6?????,??2026?????????3000???????????/??,?,??????????10%?,????????COMEX?(EFP)?????????????

??2?5???,2025????????????????????????,??,???ETF???????2025??????????????????,?????????

(????,?:liziman@chinanews.com.cn)(???????APP)

(?????????,??????,???????????,?????????????)

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