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Oct 04, 2026
Contango prices surplus, backwardation prices scarcity, and roll yield pays only when spot defies the curve.
Aug 17, 2026
Evaluating copper's true macro position requires stepping away from the outright price and assessing four critical cross-asset ratios: copper against gold, copper across exchanges, copper against silver, and copper against crude oil.
Nov 11, 2025
铜价的结构性紧缩与全球供需再平衡 —— 基于2025年全球铜市场的系统性分析 摘要 本文基于2024年至2025年最新公开数据,对国际铜市场的价格走势、供需结构、产业链瓶颈及未来演化路径进行系统性分析。研究发现,铜价已进入由“事件驱动的结构性多头”所主导的新阶段。
Oct 22, 2025
金价昨日发生巨幅下跌,高盛交易员称之为“幕后操纵”,整个市场都出现了仓位动荡,而多头动量指标也面临真正的压力,高盛动量指标对在动量多头下跌 3% 和动量空头上涨 2% 的双重打击下暴跌 5%。
Oct 22, 2025
摘要(Executive Summary) 白银 :过去四年连续供给缺口,2025年预计再现 显著赤字 ;工业需求(尤其光伏与功率电子)创历史高位,库存显性与隐性持续抽水,价格弹性高于黄金,具备“ 工业+货币 ”双重β。