????????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)

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

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

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

?????????

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

????????