After the latest US jobs report, President Trump declined to advise Fed chair Kevin Warsh, saying the new chair "must do what he must do." Trump said Warsh faces a "possibly somewhat hostile" board that may want "to do the wrong thing." He said he will continue efforts to remove Fed governor Cook by "winning lawsuits." Trump has long favored lower rates.

早盘收盘，国内期货主力合约涨多跌少，钯、沪银涨超4%，铂涨近4%，集运欧线、合成橡胶涨超3%，沪金、液化石油气（LPG）、沥青、甲醇、丙烯涨超2%。跌幅方面，氧化铝、铁矿石、玉米、淀粉、纤维板跌超1%，棕榈油、胶合板跌近1%。

CITIC Securities says supply-demand dynamics and technology convergence warrant a rare-earth valuation re-rating. Praseodymium-neodymium oxide averaged 731,000 yuan/ton in 1H2026, up 73.6% YoY. Supply: imports and recycling have fallen and domestic rare-earth management enforcement has tightened, leaving industry supply persistently tight. Demand: EV and robotics output rose MoM, export orders strengthened, and Tesla’s robot mass production is imminent, supporting continued demand growth. CITIC expects a global rare-earth supply deficit likely to widen from 2026, providing long-term price support, and continues to recommend strategic allocation along the rare-earth chain, maintaining an outperform sector rating.