????:1???3?400????:????????

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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