????:1?????:?????

2???????

3???????????

4???????????

5???????????

?????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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