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2025-11-03 Monday

2025-11-04

23:00:03

The ISM Manufacturing price payment Index for the United States in October

Previous : 61.90 Forecast : 61.70

金银 石油
美元

Published Value 58

Previous

23:00:03

The ISM manufacturing employment index for the United States in October

Previous : 45.30 Forecast : -

Published Value 46

Previous

23:00:02

Mexico's SPGI Manufacturing PMI for October

Previous : 49.60 Forecast : -

Published Value 49.50

Previous

23:00:02

The U.S. ISM Manufacturing PMI for October

Previous : 49.10 Forecast : 49.50

金银 石油
美元

Published Value 48.70

Previous

22:50:02

[Russia claims to have tightened its encirclement of Ukraine in Khedron City; Ukraine claims to have halted the Russian offensive] On November 3, local time, the Russian Ministry of Defense stated that it had tightened the encirclement of Ukrainian forces in the direction of Khedron City (Pokrovsk in Ukrainian), thwarting several Ukrainian breakout attempts. Ukraine, on the other hand, claimed to have halted the Russian offensive. The Russian Ministry of Defense released a battle report on November 3, stating that in the past day, Russian assault groups attacked besieged Ukrainian forces near the Khedron City (Pokrovsk in Ukrainian) railway station and surrounding industrial areas, while also launching attacks in the villages of Genatovka and Rog. They repelled 10 enemy breakout attempts in the north and northwest, continuously tightening the encirclement of Ukrainian forces in the east. Khedron City serves as a logistical hub for the Ukrainian army on the eastern front. If the Russian army completely controls this city, it will cut off the supply corridor for the Ukrainian Donetsk military group and open a path for Russian forces to enter Dnipropetrovsk. The General Staff of the Armed Forces of Ukraine released a battle report stating that over the past day, Ukrainian forces repelled dozens of Russian offensives in the Yugoslavian-Loborzhansk and Pokrovsk (known as the "Red Army City" in Russia) directions, and launched multiple attacks against Russian forces in the Kupyansk and Leman directions, successfully preventing the Russian army from expanding its presence in the region. Meanwhile, the Ukrainian side emphasized that its forces successfully prevented a Russian attempt to cut off the highway connecting Pokrovsk (known as the "Red Army City" in Russia) and Rodinskoy. In addition, Ukrainian forces attacked the Saratov oil refinery and a series of Russian military logistical facilities on the same day. (CCTV News)

22:45:02

The final reading of the US SPGI Manufacturing PMI for October

Previous : 52.20 Forecast : -

Published Value 52.50

Previous

22:30:01

Canada's SPGI Manufacturing PMI for October

Previous : 47.70 Forecast : -

Published Value 49.60

Previous

21:54:20

The annual rate of new car registrations in Spain in October

Previous : 16.40% Forecast : -

Published Value 15.90%

Previous

21:54:19

The monthly rate of new car registrations in Spain in October

Previous : 38.90% Forecast : -

Published Value 13.60%

Previous

21:06:48

China's port inventory of imported soybeans as of November 3rd

Previous : 814.02 Forecast : -

Published Value 817.41

Previous

21:06:34

Commercial inventories of soybean oil in key regions across China as of October 31

Previous : 60.71 Forecast : -

Published Value 59.28

Previous

21:06:25

Commercial palm oil inventories in key regions across China as of October 31

Previous : 125.03 Forecast : -

Published Value 121.58

Previous

21:05:30

Singapore's SIPMM Manufacturing PMI for October

Previous : 50.10 Forecast : -

Published Value 50

Previous

21:05:04

The total volume of new car sales in South Africa in October

Previous : 54700 Forecast : -

Published Value 55956

Previous

21:04:55

The annual rate of total new car sales in South Africa in October

Previous : 24.30% Forecast : -

Published Value 16%

Previous

21:04:07

Canada's National economic confidence Index for the week ending October 31

Previous : 49.60 Forecast : -

Published Value 49.80

Previous

21:00:02

Brazil's SPGI Manufacturing PMI for October

Previous : 46.50 Forecast : -

Published Value 48.20

Previous

20:59:26

[Caixin Futures: Divergent Trends in the Metals Market] ⑴ The new gold value-added tax policy has different impacts on the gold financial market and the spot trading market. On the one hand, it has driven some off-exchange transactions to the exchange, and on the other hand, the sales costs of downstream investment gold bars and gold jewelry have increased. ⑵ Gold prices dipped slightly in early trading today, hitting a low of 911 yuan, briefly breaking through last week's first support level of 915 yuan before quickly rebounding. The effectiveness of this price level as the lower edge of an important bullish trading range has been initially verified. ⑶ The short-term gold price trading range remains focused on 915-926 yuan. In terms of trading, it is crucial to pay close attention to changes in trading volume: if there is an increase in open interest and a breakout above 926 yuan, the upside target could be the 935 yuan gap; if there is a rebound with reduced open interest, long positions should be closed for profit in a timely manner. ⑷ Several Federal Reserve officials spoke out intensively after this week's interest rate meeting. Dallas Fed President Logan and Cleveland Fed President Hammarck explicitly stated their opposition to this week's interest rate cut decision, while Fed Governor Waller called for continued interest rate cuts. (5) Despite the hawkish signals from the Federal Reserve, given the continued disruptions to copper mines both domestically and internationally, the persistently negative copper concentrate import index, tight supply expectations, and escalating geopolitical tensions, Shanghai copper prices will likely remain supported in the future. The overall strategy remains to buy on dips. (6) LME inventories remain low, and while domestic social inventories have decreased slightly but remain at historically high levels, export windows are open, and demand is relatively stable. Considering the continued oversupply in the domestic market, the upside potential for Shanghai zinc prices is limited. (7) The overall supply and demand for alumina remains relatively loose, with both operating capacity and inventory at high levels in the short term. Short-term fundamental drivers remain weak, but the market shows some signs of bottoming out. Future attention should be paid to whether production companies will reduce production due to losses. (8) Today, aluminum-related commodities saw a significant increase in open interest and upward movement, possibly based on positive long-term demand expectations and the recovery of the copper-aluminum price ratio, with bullish funds entering the market in large numbers. (9) Production cuts by Century Aluminum and next year's production cuts by Mozambique aluminum plants are expected to tighten overseas supply. Domestic supply is stable, but inventory reduction is slow due to high aluminum prices and weak downstream demand. (10) Overall, given the mixed macroeconomic environment and fundamental factors, the outlook for Shanghai aluminum and foundry aluminum remains unchanged, with a strategy of buying on dips. (11) Going forward, attention should be paid to the risk of mining disruptions before the Guinea elections on December 28th, and the negative feedback effect of high aluminum prices on demand.

20:52:23

[Caixin Futures: Energy and Chemical Sector Shows Divergent Trends] ⑴ In the crude oil market, after OPEC+ decided to increase production by 137,000 barrels per day in December, it will suspend the production increase plan in the first quarter of next year. Given the unclear impact of Russian sanctions, the organization is adopting a strategic wait-and-see approach. With positive macroeconomic support, a short-term bullish strategy is recommended. ⑵ Fuel oil rebounded following crude oil, with expectations of reduced high-sulfur fuel oil supply due to continued sanctions against Russia by the US and Europe. With positive macroeconomic expectations, the downside is limited, and a short-term bullish strategy is maintained. ⑶ The glass market was driven by the "coal-to-gas" policy in the Shahe region. Four coal-fired production lines stopped feeding from November 2nd, affecting daily capacity by 2,400 tons. Supply contraction coupled with improved production and sales in the Shahe region, coupled with a double decline in supply and demand, showed resilience in the market. A slightly bullish oscillating strategy is recommended. ⑷ The soda ash market remained stable, with total manufacturer inventory at 1.6923 million tons, a decrease of 9,700 tons month-on-month. The commissioning of the Alashan Phase II project may be delayed, and coal cost support is relatively strong. A slightly bullish oscillating strategy is recommended. (5) The caustic soda market remained weak, with prices in Shandong and Jiangsu provinces showing a slight downward trend. Supply remained ample, with no peak season restocking demand observed in non-aluminum industries. Coupled with expectations of alumina production cuts and high inventory pressure, the fundamentals showed no signs of improvement, and a short-selling strategy was maintained. (6) The methanol market broke down, with spot prices in Taicang falling by 55 yuan to 2102 yuan, and prices in Inner Mongolia North Line falling by 25 yuan to 1980 yuan. Port inventories remained high, with ample supply and weak downstream demand. Prices are expected to remain low, and a short-selling strategy was recommended.

20:49:33

[Caixin Futures: Mixed Factors in the Ferrous Metals Market] ⑴ The steel market is exhibiting a volatile pattern. Pig iron production is declining at a slower pace, demand is nearing its peak, and high inventory levels limit price upside. The pricing of the rebar 01 contract is constrained by off-peak electricity costs for independent electric arc furnaces in East China. Policy support and expectations of coal mine supply contraction limit downside. A short-term strategy of selling on rallies is recommended. ⑵ The iron ore supply and demand structure is weak. Global shipments remain high, and port inventories continue to accumulate. Before steel mills initiate large-scale restocking, the weak reality and pessimistic expectations jointly suppress valuations. A short position in the industry chain is recommended. ⑶ The coking coal market continues to experience tight supply. Strengthened safety supervision in production areas, coupled with production disruptions at some coal mines, is driving up expectations for a third round of spot price increases. Although downstream procurement is active, coking plants have limited room for further restocking. A short-term buying strategy on pullbacks is recommended, avoiding chasing high prices. (4) Coking coal production is constrained by environmental protection and maintenance factors. Cost support and high pig iron prices support expectations of a third round of price increases, but compressed steel mill profits limit the efficiency of price transmission. The long coal/short coking coal arbitrage strategy can be maintained. (5) The manganese silicon market remains volatile at low levels. Manganese ore shipments remain stable while factory operating rates have slightly declined. Continued inventory accumulation has led to a stalemate in the long/short game. Funding is cautious, with the top 20 positions mainly reducing holdings, lacking a clear directional driver.

20:39:06

[US Crude Oil Technical Analysis] From the 240-minute candlestick chart, US crude oil is exhibiting a range-bound trading pattern. After hitting a low of $55.96, the price rebounded, subsequently rising to a high of $62.59, marking the completion of a substantial technical rebound. This rebound established the upper and lower boundaries of the current trading range, providing an important technical reference framework for subsequent price movements. Currently, the price is trading near the $61 level. Observing the candlestick pattern, the price has repeatedly encountered resistance and fallen back in this area, indicating strong bearish sentiment at this level, making a significant breakout difficult in the short term. On the downside, the $59.50 to $59.25 area forms a significant support zone; this range has accumulated a large amount of bullish defensive positions, constituting a crucial bottom line for the current market. If the price breaks below this support zone, it could open up further downside potential towards the previous low of $55.96. The MACD indicator is fluctuating around the zero line, with the DIFF line at 0.16, the DEA line at 0.10, and the MACD histogram value at 0.12. From an indicator perspective, the MACD line and signal line are running above the zero axis, but the two lines are relatively close together, indicating that the bullish momentum is somewhat limited. The histogram, after a period of contraction in the green bars, has turned to expansion in the red bars, but the strength is not significant, indicating that while the bulls have the intention to counterattack, the upward momentum is still insufficient. The Relative Strength Index (RSI) is at a neutral level of 50.27, neither entering the overbought zone nor touching the oversold zone; this value is precisely near the dividing line between bullish and bearish sentiment. Looking at the RSI's trajectory, after falling back from the overbought zone, the indicator is currently consolidating in the middle range, reflecting a temporary balance between bullish and bearish forces in the market.

20:36:26

[Undercurrents in the US Treasury Market: Interest Rate Cut Expectations Intertwined with Two Major Risk Events] ⑴ The US Treasury yield curve is showing a "bull market steepening" trend, with the 2-year yield falling by 2 basis points while the 30-year yield remains stable, reflecting market optimism that rising interest rate cut expectations and the end of quantitative tightening will improve liquidity. ⑵ This week faces two key risk events: the Supreme Court hearing on the legality of Trump's tariffs, and a government shutdown that could break the 35-day record. These two factors are suppressing market risk appetite. ⑶ According to Polymarket's forecast, the probability of the Supreme Court rejecting the tariffs has risen from 60% to 64%. If passed, it could trigger short-term market turmoil, but Trump is expected to maintain the current tariff level through other legal tools. ⑷ The government shutdown has lasted for more than 30 days, and analysts believe that unless a major unforeseen event occurs, it is unlikely to be resolved in the short term. This has led to delays in the release of many economic data and affected the real economy. (5) Manufacturing surveys show that businesses continue to be troubled by the triple uncertainties of tariffs, immigration policies, and government shutdowns. Although the October ISM Manufacturing PMI is expected to rise slightly to 49.5, it will still remain in contraction territory. (6) Trading strategy recommendations include two-way trading within the recent range (10-year yield 4.12%-4%), focusing on the fluctuation range of 4.10%-4.06%, while also paying attention to the guidance of Fed officials' speeches on market expectations.

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Real-Time Popular Commodities

Instrument Current Price Change

XAU

4013.18

10.24

(0.26%)

XAG

48.224

-0.431

(-0.89%)

CONC

60.97

-0.01

(-0.02%)

OILC

64.78

0.14

(0.22%)

USD

99.850

0.145

(0.15%)

EURUSD

1.1520

-0.0016

(-0.14%)

GBPUSD

1.3140

-0.0007

(-0.05%)

USDCNH

7.1260

0.0051

(0.07%)