铜冠金源期货商品日报-20250514

1. Report Industry Investment Rating No relevant content provided. 2. Core Views of the Report - Overseas, US inflation continues to cool, with the April CPI at 2.3% year - on - year, the lowest since February 2021. The market expects the Fed to start cutting rates in September, with two cuts this year. Trump pressured Powell to cut rates after the CPI report. Market risk appetite has increased, with the US stock market rising, the US dollar index falling, and oil, gold, and copper prices rising [2]. - Domestically, the A - share market opened higher but closed slightly lower. After the Sino - US tariff downgrade, the market faced profit - taking pressure. The bond market slightly recovered, and the capital market was loose [3]. - For precious metals, although gold and silver prices rebounded due to cooling US inflation and bargain - hunting, the core driving factor of safe - haven demand is receding, and gold is still in a phased adjustment [4]. - For copper, Sino - US trade truce boosts market risk appetite. With positive fundamentals, copper prices are expected to remain strong in the short term [5][6]. - For aluminum, macro and fundamental factors are positive, but attention should be paid to the realization of consumption [7]. - For zinc, although short - term factors are favorable, the supply is expected to be loose in the long - term, and zinc prices are expected to fluctuate strongly [8][9]. - For lead, the market is in a situation of weak supply and demand, and lead prices continue to test integer pressure [10]. - For tin, although the short - term macro sentiment is positive, the resumption of the Bisie tin mine will suppress price increases [11]. - For industrial silicon, the market is in a situation of weak supply and demand and is expected to oscillate at a low level [12][13]. - For lithium carbonate, the short - term price trend is unclear, and it is advisable to wait and see [14][15]. - For nickel, the short - term price lacks support, and nickel prices will oscillate [16]. - For crude oil, the price has reached the pressure range, and there may be an inflection point in the near future [17][18]. - For steel products, the futures market rebounds, while the spot market is weak, and steel prices are expected to oscillate [19]. - For iron ore, port inventories are increasing, and iron ore prices will oscillate [20]. - For soybean and rapeseed meal, the spot market is under pressure, and the prices are expected to oscillate weakly [21][22]. - For palm oil, due to the unexpected increase in inventory, palm oil prices are expected to oscillate [23][24]. 3. Summary by Related Catalogs 3.1 Metal Main Varieties Yesterday's Trading Data - The table shows the closing data of major metal futures contracts, including closing prices, price changes, price change percentages, trading volumes, open interests, and price units [25]. 3.2 Industrial Data Perspective - The table presents the data of various metals on May 13 and May 12, including futures prices, warehouse receipts, inventories, spot premiums and discounts, and price ratios, as well as their changes [26][29][31].