山西优混（优质的混煤，热值5500大卡）价格为767.0元/吨，较上期上涨40.7元/吨，涨幅5.6%。 大同混煤（大同产混煤，热值5800大卡）价格为808.8元/吨，较上期上涨43.1元/吨，涨幅5.6%。 焦煤（主焦煤，含硫量<1%）价格为1548.8元/吨，较上期上涨58.8元/吨，涨幅3.9%。 国家统计局公布的数据显示，10月下旬，全国各煤种价格均呈涨势，且涨幅较大。各煤种具体价格变化 情况如下： 无烟煤（洗中块，挥发份≤8%）价格904.0元/吨，较上期上涨30.0元/吨，涨幅3.4%。 普通混煤（山西粉煤与块煤的混合煤，热值4500大卡）价格587.4元/吨，较上期上涨32.5元/吨，涨幅 5.9%。 山西大混（质量较好的混煤，热值5000大卡）价格为676.4元/吨，较上期上涨41.1元/吨，涨幅6.5%。 数据显示，10月下旬无烟煤价格再次上涨，动力煤价格涨幅进一步扩大，焦煤价格明显上涨。 此外，10月下旬，全国焦炭（准一级冶金焦，12.01%≤灰分≤13.50%）价格1421.4元/吨，较上期上涨 25.0元/吨，涨幅1.8%。 ...

据对全国流通领域9大类50种重要生产资料市场价格的监测显示，2025年10月下旬与10月中旬相比，26 种产品价格上涨，22种下降，2种持平，其中棉花（皮棉，白棉三级）本期价格为14505.4元/吨，比上 期上涨239.5元/吨，涨幅为1.7%。 ...

来源：国家统计局 据对全国流通领域9大类50种重要生产资料市场价格的监测显示，2025年10月下旬与10月中旬相比，26 种产品价格上涨，22种下降，2种持平。 其中， 全国生猪(外三元)价格为12.0元/千克，较中旬上涨10.1%。 ...

Core Viewpoint - The monitoring of market prices for 50 important production materials across nine categories indicates a mixed trend, with 26 products experiencing price increases, 22 seeing declines, and 2 remaining stable in late October 2025 compared to mid-October 2025 [2][3]. Group 1: Price Changes in Black Metals - Rebar (Φ20mm, HRB400E) price is 3122.3 CNY per ton, up by 11.8 CNY, a rise of 0.4% [5] - Wire rod (Φ8-10mm, HPB300) price is 3281.7 CNY per ton, up by 17.4 CNY, a rise of 0.5% [5] - Ordinary medium plate (20mm, Q235) price is 3425.5 CNY per ton, down by 19.8 CNY, a decline of 0.6% [5] - Hot-rolled ordinary plate (4.75-11.5mm, Q235) price is 3319.6 CNY per ton, down by 6.7 CNY, a decline of 0.2% [5] - Seamless steel pipe (219*6, 20) price is 4096.3 CNY per ton, down by 9.8 CNY, a decline of 0.2% [5] - Angle steel (5) price is 3412.6 CNY per ton, down by 4.0 CNY, a decline of 0.1% [5] Group 2: Price Changes in Non-Ferrous Metals - Electrolytic copper (1) price is 86808.8 CNY per ton, up by 1378.8 CNY, a rise of 1.6% [6] - Aluminum ingot (A00) price is 21098.8 CNY per ton, up by 192.1 CNY, a rise of 0.9% [6] - Lead ingot (1) price is 17150.0 CNY per ton, up by 229.2 CNY, a rise of 1.4% [6] - Zinc ingot (0) price is 22145.0 CNY per ton, up by 135.0 CNY, a rise of 0.6% [6] Group 3: Price Changes in Chemical Products - Sulfuric acid (98%) price is 714.3 CNY per ton, up by 59.6 CNY [6] - Caustic soda (liquid caustic, 32%) price is 869.3 CNY per ton, down by 7.8 CNY, a decline of 0.9% [6] - Methanol (first grade) price is 2161.3 CNY per ton, down by 51.1 CNY, a decline of 2.3% [6] - Pure benzene (industrial grade) price is 5414.7 CNY per ton, down by 174.6 CNY, a decline of 3.1% [6] - Styrene (first grade) price is 6437.9 CNY per ton, down by 108.1 CNY, a decline of 1.7% [6] Group 4: Price Changes in Energy Products - Liquefied natural gas (LNG) price is 4237.1 CNY per ton, up by 396.9 CNY, a rise of 10.3% [7] - Liquefied petroleum gas (LPG) price is 4240.4 CNY per ton, down by 130.5 CNY, a decline of 3.0% [7] - Gasoline (95 National VI) price is 8093.6 CNY per ton, down by 169.4 CNY, a decline of 2.1% [7] - Diesel (0 National VI) price is 6791.8 CNY per ton, down by 88.6 CNY, a decline of 1.3% [7] Group 5: Price Changes in Agricultural Products - Rice (Japonica) price is 3919.6 CNY per ton, down by 20.0 CNY [8] - Wheat (National Standard Grade 3) price is 2468.6 CNY per ton, up by 23.5 CNY, a rise of 1.0% [8] - Corn (Yellow Corn Grade 2) price is 2152.8 CNY per ton, down by 1.5 CNY, a decline of 0.1% [8] - Cotton (White Cotton Grade 3) price is 14505.4 CNY per ton, up by 239.5 CNY, a rise of 1.7% [8]

Core Insights - The manufacturing Purchasing Managers' Index (PMI) for October is 49.0%, a decrease of 0.8 percentage points from the previous month, indicating a decline in manufacturing activity [1] Group 1: PMI Overview - The PMI for large, medium, and small enterprises are 49.9%, 48.7%, and 47.1% respectively, all below the critical point, with declines of 1.1, 0.1, and 1.1 percentage points compared to last month [1] Group 2: Sub-Indices Analysis - The production index is at 49.7%, down 2.2 percentage points, indicating a slowdown in manufacturing production [3] - The new orders index is at 48.8%, a decrease of 0.9 percentage points, suggesting a decline in market demand for manufacturing [4] - The raw materials inventory index is at 47.3%, down 1.2 percentage points, indicating a continued reduction in the inventory of major raw materials [5] - The employment index is at 48.3%, a slight decrease of 0.2 percentage points, reflecting a minor decline in employment levels within manufacturing [6] - The supplier delivery time index is at 50.0%, down 0.8 percentage points, remaining at the critical point, indicating that supplier delivery times are stable compared to the previous month [7]

Manufacturing PMI Overview - In October, the Manufacturing Purchasing Managers' Index (PMI) was 49.0%, a decrease of 0.8 percentage points from the previous month, indicating a decline in manufacturing activity [1][17] - The PMI for large, medium, and small enterprises was 49.9%, 48.7%, and 47.1%, respectively, all below the critical point [1][18] - The production index was 49.7%, down 2.2 percentage points, signaling a slowdown in manufacturing production [2][18] - The new orders index was 48.8%, a decrease of 0.9 percentage points, reflecting a drop in market demand [3][18] - The raw materials inventory index was 47.3%, down 1.2 percentage points, indicating a continued reduction in inventory levels [4][18] - The employment index was 48.3%, a slight decrease of 0.2 percentage points, suggesting a minor decline in employment levels within the manufacturing sector [5][18] Non-Manufacturing PMI Overview - The Non-Manufacturing Business Activity Index was 50.1%, an increase of 0.1 percentage points, indicating expansion in the non-manufacturing sector [6][17] - The service sector's business activity index was 50.2%, up 0.1 percentage points, showing a slight recovery in service sector activity [6][20] - The new orders index for non-manufacturing was 46.0%, unchanged from the previous month, indicating weak market demand [6][20] - The input prices index was 49.4%, an increase of 0.4 percentage points, suggesting a narrowing decline in input prices for non-manufacturing businesses [6][20] - The employment index for non-manufacturing was 45.2%, a slight increase of 0.2 percentage points, indicating a minor improvement in employment conditions [7][20] Composite PMI Overview - The Composite PMI Output Index was 50.0%, a decrease of 0.6 percentage points, indicating overall stability in production and business activities [8][21] - The manufacturing production index was 49.7%, while the non-manufacturing business activity index was 50.1%, contributing to the composite index's position at the critical point [21]

Manufacturing PMI Overview - In October, the Manufacturing Purchasing Managers' Index (PMI) was 49.0%, a decrease of 0.8 percentage points from the previous month, indicating a decline in manufacturing activity [1] - The PMI for large, medium, and small enterprises was 49.9%, 48.7%, and 47.1%, respectively, all below the critical point, with declines of 1.1, 0.1, and 1.1 percentage points [1] - The production index was 49.7%, down 2.2 percentage points, suggesting a slowdown in manufacturing production [2] New Orders and Employment - The new orders index was 48.8%, a decrease of 0.9 percentage points, indicating a decline in market demand for manufacturing [2] - The raw materials inventory index was 47.3%, down 1.2 percentage points, showing a continued reduction in major raw material inventories [2] - The employment index was 48.3%, a slight decrease of 0.2 percentage points, reflecting a minor decline in employment levels within manufacturing [2] Non-Manufacturing PMI Overview - In October, the Non-Manufacturing Business Activity Index was 50.1%, an increase of 0.1 percentage points, indicating expansion in the non-manufacturing sector [3] - The construction industry index was 49.1%, down 0.2 percentage points, while the services industry index was 50.2%, up 0.1 percentage points [3] Non-Manufacturing Demand and Prices - The new orders index for non-manufacturing was 46.0%, unchanged from the previous month, indicating weak market demand [3] - The input prices index was 49.4%, an increase of 0.4 percentage points, suggesting a narrowing decline in input prices for non-manufacturing [4] - The sales prices index was 47.8%, up 0.5 percentage points, but still below the critical point, indicating lower sales prices compared to the previous month [4] Employment and Expectations in Non-Manufacturing - The employment index for non-manufacturing was 45.2%, an increase of 0.2 percentage points, indicating slight improvement in employment conditions [4] - The business activity expectation index was 56.1%, up 0.4 percentage points, reflecting optimism among non-manufacturing enterprises regarding market prospects [4] Composite PMI Overview - The Composite PMI Output Index was 50.0%, a decrease of 0.6 percentage points, indicating overall stability in production and business activities [5]

Group 1: Manufacturing PMI Insights - In October, the manufacturing PMI decreased to 49.0%, down 0.8 percentage points from the previous month, indicating a slowdown in production activities [1][2] - Both production index and new orders index fell to 49.7% and 48.8%, respectively, reflecting a decline in manufacturing production and market demand [2] - Large enterprises maintained a PMI above the critical point, with indices at 50.9% for production and 50.1% for new orders, indicating sustained demand in this segment [2][3] Group 2: Non-Manufacturing PMI Insights - The non-manufacturing business activity index rose to 50.1%, up 0.1 percentage points from the previous month, indicating a slight expansion in the sector [4] - The service industry business activity index increased to 50.2%, with significant growth in sectors closely related to consumer travel, such as rail and air transport, which saw indices above 60.0% [4] - The construction industry business activity index slightly decreased to 49.1%, but the business activity expectation index improved to 56.0%, suggesting a positive outlook for future market conditions [4] Group 3: Composite PMI Insights - The composite PMI output index stood at 50.0%, indicating overall stability in production and business activities across sectors [5] - The manufacturing production index and non-manufacturing business activity index were recorded at 49.7% and 50.1%, respectively, contributing to the composite index's position at the critical point [5]

Group 1: Manufacturing PMI Analysis - In October, the manufacturing PMI decreased to 49.0%, down 0.8 percentage points from the previous month, indicating a slowdown in production activities [1][2] - Both production index and new orders index fell to 49.7% and 48.8%, respectively, reflecting a decline in manufacturing production and market demand [2] - Large enterprises maintained a PMI above the critical point, with indices at 50.9% for production and 50.1% for new orders, indicating sustained demand in this segment [2] Group 2: Key Industry Performance - High-tech manufacturing, equipment manufacturing, and consumer goods industries continued to expand, with PMIs of 50.5%, 50.2%, and 50.1%, respectively, significantly above the overall manufacturing level [3] - Conversely, high-energy-consuming industries saw a PMI of 47.3%, indicating a decline in economic activity [3] - Market expectations remain optimistic, with a production and business activity expectation index of 52.8%, suggesting confidence among manufacturers [3] Group 3: Non-Manufacturing PMI Insights - The non-manufacturing business activity index rose to 50.1%, up 0.1 percentage points, indicating a slight recovery in this sector [4] - The service industry business activity index increased to 50.2%, with sectors like rail transport and accommodation showing strong activity levels due to holiday effects [4] - The construction industry business activity index fell to 49.1%, indicating a slight decline, but the business activity expectation index improved to 56.0%, reflecting better future outlooks [4] Group 4: Composite PMI Overview - The composite PMI output index stood at 50.0%, indicating overall stability in production and business activities across sectors [5] - The manufacturing production index and non-manufacturing business activity index were recorded at 49.7% and 50.1%, respectively, contributing to the composite index's position at the critical point [5]

Group 1: Manufacturing PMI Insights - In October, the Manufacturing Purchasing Managers' Index (PMI) decreased to 49.0%, down 0.8 percentage points from the previous month, indicating a slowdown in manufacturing activity [2][3] - The production index and new orders index were reported at 49.7% and 48.8%, respectively, reflecting declines of 2.2 and 0.9 percentage points, suggesting weakened production and market demand [3] - Large enterprises maintained a PMI above the critical point, with large, medium, and small enterprises reporting PMIs of 49.9%, 48.7%, and 47.1%, respectively, indicating varying levels of economic activity [3] Group 2: Non-Manufacturing PMI Insights - The Non-Manufacturing Business Activity Index rose to 50.1%, an increase of 0.1 percentage points, indicating a slight expansion in the non-manufacturing sector [5] - The service sector's business activity index reached 50.2%, with significant growth in sectors closely related to consumer travel, such as rail and air transport, which exceeded 60.0% [5] - The construction sector's business activity index fell to 49.1%, down 0.2 percentage points, indicating a slight decline in construction activity, although the business activity expectation index improved to 56.0% [5] Group 3: Composite PMI Insights - The Composite PMI Output Index stood at 50.0%, indicating overall stability in production and business activities across sectors [7] - The manufacturing production index and non-manufacturing business activity index contributed to the composite index, reported at 49.7% and 50.1%, respectively [7]