??�????????�????

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

??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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