??????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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