??�??????�????

????:????????:??????

?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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