?900?,??????90????????

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

???????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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