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Data as of: 2026-10-20 · Settlement: Exchange settlement (15:00 Beijing close, vs prior settlement)
Generated: 2026-10-20 07:38:51 · Benchmark settle: 2026-10-16
Body, Best Trade and charts share the same settlement snapshot; intraday live prices are not part of conclusions

2026-10-20 晨报：黑色系分化加剧，贵金属夜盘修复，原油地缘溢价主导

驱动：地缘冲突升级推升原油风险溢价，传导至黑色系原料成本端，铁矿石与双焦夜盘反弹但日盘空头回补主导，螺纹与热卷库存压力仍存，若跌破 3057 支撑则下看 3020，站稳 3087 则修复至 3120。驱动：贵金属日盘大幅回调后夜盘跟随国际市场企稳，黄金若站稳 906.75 则有望修复至 915，跌破 897.57 则下看 885，白银波动率更高，若跌破 13859 则下看 13600，站稳 14109 则上看 14400。驱动：碳酸锂库存持续去化，需求端边际改善，若站稳 103420 则上看 10800，跌破 96280 则回测 94000，短期多头主动增仓迹象明显。