本报告中的信息均来源于公开可获得资料，瑞达期货股份有限公司力求准确可靠，但对这些信息的准确性及完整性不 做任何保证，据此投资，责任自负。本报告不构成个人投资建议，客户应考虑本报告中的任何意见或建议是否符合其特定状 明出处为瑞达期货股份有限公司研究院，且不得对本报告进行有悖原意的引用、删节和修改。 | 集运指数（欧线）期货日报 | | | 2025/7/28 | | | --- | --- | --- | --- | --- | | 项目类别 数据指标 最新 环比 | 数据指标 | 最新 | 环比 | | | EC主力收盘价 1502.800 | -28.1↓ EC次主力收盘价 | 1737.8 | | +7.10↑ | | 期货盘面 EC2510-EC2512价差 -235.00 | -42.30↓ EC2510-EC2602价差 | -38.20 | | -46.90↓ | | EC合约基差 813.76 -59.24↓ | | | | | | 期货持仓头寸（手） EC主力持仓量 50694 717↑ | | | | | | 2316.56 SCFIS（欧线）（周） | -83.94↓ SCFIS（美西线） ...

Report Summary 1. Report Industry Investment Rating - No relevant content provided. 2. Core View of the Report - The bond market is under full pressure due to policy - theme catalysts such as the "anti - involution" and Yajiang Water Conservancy Construction. The long - end performs significantly weaker than the short - end. If the relevant details of the "anti - involution" policy are further introduced, it will continue to put pressure on the bond market in the short term. Interest - rate bonds are likely to continue the pattern of weakening in shock in the short term. It is recommended to observe the adjustment of Treasury bond futures in the short term and choose the opportunity to allocate after stabilization. The follow - up needs to focus on the sustainability of the strong performance of risk assets [2]. 3. Summary by Relevant Catalogs 3.1 Futures Market Data - **Futures Closing Prices and Volume**: T主力收盘价为108.395，涨幅0.18%，成交量78985手，减少1580手；TF主力收盘价为105.720，涨幅0.13%，成交量71923手，增加2320手；TS主力收盘价为102.362，涨幅0.04%，成交量43197手，增加128手；TL主力收盘价为118.780，涨幅0.56%，成交量120609手，减少3695手 [2]. - **Futures Spreads**: TL2512 - 2509价差为 - 0.29，减少0.05；T2512 - 2509价差为0.01，增加0.01；TF2512 - 2509价差为0.06，增加0.01；T09 - TL09价差为 - 10.39，减少0.62；TF09 - T09价差为 - 2.68，减少0.06；TS09 - T09价差为 - 6.03，减少0.16 [2]. - **Futures Positions**: T主力持仓量187839手，增加；T前20名多头持仓201483手，增加3049手；T前20名空头持仓194743手，增加1102手；T前20名净空仓 - 6740手，减少1947手；TF主力持仓量148362手，减少10201手；TF前20名多头持仓165141手，增加4183手；TF前20名空头持仓176706手，增加1546手；TF前20名净空仓11565手，减少2637手；TS主力持仓量101434手，减少2720手；TS前20名多头持仓80831手，增加926手；TS前20名空头持仓90943手，减少2360手；TS前20名净空仓10112手，减少3286手；TL主力持仓量120283手，减少2054手；TL前20名多头持仓126655手，增加3656手；TL前20名空头持仓126589手，增加2682手；TL前20名净空仓 - 66手，增加974手 [2]. 3.2 CTD and Active Bond Data - **CTD Net Price**: 220010.IB(6y)净价为107.01，增加0.1917；250007.IB(6y)净价为99.0955，增加0.1373；240020.IB(4y)净价为100.6861，增加0.1006；240020.IB(4y)净价为100.8844，增加0.1181；250006.IB(1.7y)净价为100.2734，增加0.0268；220007.IB(2y)净价为99.939，减少1.8495；210005.IB(17y)净价为134.1967，减少0.0388；210014.IB(18y)净价为130.7414，增加0.1041 [2]. - **Active Bond Yields**: 1y国债活跃券收益率为1.3775%，下降1.75bp；3y为1.4680%，下降0.20bp；5y为1.5900%，下降1.50bp；7y为1.6850%，下降0.75bp；10y为1.7325%，下降0.75bp [2]. 3.3 Interest Rate Data - **Short - term Interest Rates**: 银质押隔夜利率为1.4110%，下降13.90bp；Shibor隔夜利率为1.4670%，下降5.30bp；银质押7天利率为1.5441%，下降9.59bp；Shibor7天利率为1.5960%，下降2.40bp；银质押14天利率为1.6400%，下降1.00bp；Shibor14天利率为1.6350%，下降9.30bp [2]. - **LPR Rates**: 1y LPR利率为3.00%，无变化；5y LPR利率为3.5%，无变化 [2]. 3.4 Open Market Operations - 公开市场操作发行规模4958亿、3251亿，到期规模1707亿，利率1.4%，期限7天 [2]. 3.5 Industry News - 中美商定国务院副总理何立峰7月27日至30日赴瑞士与美方举行经贸会谈，双方将按两国元首6月5日通话共识就经贸问题磋商 [2]. - 6月规模以上工业企业利润同比下降4.3%，降幅较5月收窄，1 - 6月全国规模以上工业企业利润总额34365亿元，同比下降1.8%；1 - 6月黑色金属冶炼和压延加工业利润同比增长13.7倍，采矿业利润同比下降30.3% [2]. - 美国与欧盟达成15%税率关税协议，特朗普称该协议将对多数输美欧洲商品征15%关税，欧盟将增加对美投资6000亿美元，购买美国军事装备和7500亿美元能源产品 [2]. 3.6 Key Events to Follow - 7月28日20:30关注美国7月达拉斯联储商业活动指数 - 7月29日22:00关注美国7月谘商会消费者信心指数 [3]

研究员: 蔡跃辉 期货从业资格号F0251444 期货投资咨询从业证书号Z0013101 免责声明 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | I 主力合约收盘价（元/吨） | 786.00 | -16.50↓ I 主力合约持仓量(手) | 489,437 | -39554↓ | | | I 9-1合约价差（元/吨） | 29 | -1.00↓ I 合约前20名净持仓(手) | -25799 | -636↓ | | | I 大商所仓单（手） | 3,400.00 | 0.00 | | | | | 新加坡铁矿石主力合约截止15：00报价(美元/吨) | 100.85 | -2.44↓ | | | | 现货市场 | 青岛港61.5%PB粉矿 (元/干吨) | 843 | -4↓ 青岛港60.8%麦克粉矿 (元/干吨) | 826 | -5↓ | | | 京唐港56.5%超特粉矿 (元/干吨) | 718 | -4↓ I 主力合约基差 (麦克粉干吨-主力合约) | 40 | +11↑ ...

Report Industry Investment Rating - Not mentioned in the report Core Viewpoints - Current inventory is at a five - year low, and the purchase price of early - maturing varieties has increased slightly year - on - year, supporting the price to continue to fluctuate strongly. However, the large listing of summer cooling fruits impacts apple demand, and the potential increase in new - season apple production may restrict price movement and range. It is recommended to hold long positions cautiously and pay attention to controlling risks [2][3] Summary by Relevant Catalogs Futures Market - The closing price of the October apple contract is 8052 yuan/ton, and the position of the main contract is 127,261 lots, with a week - on - week increase of 32,430 lots. The number of apple warehouse receipts is 0, and the net long position of the top 20 futures holders is 5,721 lots, with a week - on - week decrease of 981 lots [2] Spot Market - The spot price of Shandong Yantai Qixia apples (paper - bagged, above 80 second - grade fruit farmers' goods) is 4 yuan/jin. The national apple production is 5,128.51 million tons, with an increase of 168.34 million tons [2] Industry Situation - The total national apple cold - storage inventory is 9.75 million tons, with a week - on - week decrease of 10.15 million tons. The storage capacity ratio of Shandong apples is 70.45%, with a week - on - week decrease of 0.16%. The storage capacity ratio of Shaanxi apples is 0.04%, with a week - on - week decrease of 0.01%. The monthly export volume of apples is 40,000 tons, with a decrease of 10,000 tons. The monthly export value of apples is 4,330.8 million US dollars, and the monthly import value of fresh and dried fruits and nuts is 1,955,488 million US dollars, with a decrease of 245,562.17 million US dollars. The profit of first - and second - grade paper - bagged 80 apple storage merchants is 0.7 yuan/jin [2] Downstream Situation - The average wholesale price of tangerines is 9.63 yuan/kg, the wholesale price of bananas is 6.06 yuan/kg, with a week - on - week decrease of 0.09 yuan/kg, the wholesale price of watermelons is 3.92 yuan/kg. The morning average daily arrival volume at the Guangdong Jiangmen wholesale market is 6.8 vehicles, with an increase of 1 vehicle, and at the Guangdong Chalong wholesale market is 14.6 vehicles, with a decrease of 2 vehicles [2] Option Market - The implied volatility of at - the - money call options for apples is 17.15%, and that of at - the - money put options is 17.15%, with a week - on - week increase of 0.79% [2] Industry News - On July 28, 2025, the trading of inventory apples in the western producing areas basically ended with little remaining stock. In the Shandong producing area, the number of inquiring merchants increased slightly, most of them selected suitable sources for procurement, and fruit farmers sold at the market price. The supply of early - maturing apples is still limited, and merchants' enthusiasm for purchasing is fair, with relatively stable prices. The apple 2510 contract rose 0.64% on Monday. According to preliminary estimates by Mysteel based on bagging volume survey data, the national apple production is expected to be 3,736.64 million tons, an increase of 85.93 million tons or 2.35% compared with the 2024 - 2025 production season [2] Viewpoint Summary - As of July 23, 2025, the inventory of main apple - producing areas in China was 70.45 million tons, with a week - on - week decrease of 10.15 million tons. The inventory removal speed was similar to that of last week and basically the same as that of last year. The storage capacity ratio in the Shandong producing area was 11.12%, a decrease of 1.03% from last week, and the inventory removal speed was still average. The storage capacity ratio in the Shaanxi producing area was 3.65%, a decrease of 0.98% from last week, and the inventory removal was slightly faster than last week. The storage capacity ratio in the Gansu producing area was 2.77%, a decrease of 0.92% from last week, and the inventory removal was sporadic [2]

1. Report Industry Investment Rating No information provided. 2. Core Viewpoints of the Report - Tariff situation cooling down suppresses the market's risk - aversion tone, causing gold and silver prices to decline during the session. The framework trade agreement between the US and the EU on the 27th reduces concerns about global trade frictions and supports short - term market risk appetite [2]. - The weakening of the US dollar has led to a slight recovery of the spot gold price from a two - week low, mainly due to risk mitigation from the US - EU agreement and increased overseas buying demand. However, as market risk appetite improves, the demand for gold as a safe - haven asset has decreased [2]. - Future potential driving factors include the Fed's policy expectations, PCE inflation, and non - farm payroll data. If the expectation of two or more interest rate cuts within the year is strengthened, it will provide solid medium - term support for the gold price. If the subsequent PCE growth rate is significantly lower than expected, it may boost the gold price in the short term [2]. - It is recommended to wait and see for now. The reference range for Shanghai Gold 2510 is 760 - 800 yuan/gram, and the reference range for Shanghai Silver 2510 is 8900 - 9400 yuan/kilogram [2]. 3. Summary According to Relevant Catalogs 3.1 Futures Market - Shanghai Gold's main contract closing price is 774.78 yuan/gram, down 2.54; Shanghai Silver's main contract closing price is 9212 yuan/kilogram, down 180 [2]. - The main contract positions of Shanghai Gold are 209,675 lots, down 2,176; those of Shanghai Silver are 398,421 lots, down 52,406 [2]. - The net positions of the top 20 in Shanghai Gold's main contract are 156,633 lots, down 424; those of Shanghai Silver are 129,149 lots, down 3,391 [2]. 3.2 Spot Market - The warehouse receipt quantity of gold is 30,258 kilograms, unchanged; that of silver is 1,208,269 kilograms, up 21,015 [2]. - Shanghai Non - ferrous Metals Network's gold spot price is 770.19 yuan/gram, down 3.01; the silver spot price is 9146 yuan/kilogram, down 245 [2]. - The basis of Shanghai Gold's main contract is - 4.12 yuan/gram, down 0.48; that of Shanghai Silver is 1 yuan/kilogram, up 36 [2]. 3.3 Supply - Demand Situation - Gold ETF holdings are 957.09 tons, up 2.29; silver ETF holdings are 15,207.82 tons, unchanged [2]. - Gold's CFTC non - commercial net positions are 213,115 contracts, up 10,147; silver's CTFC non - commercial net positions are 59,448 contracts, up 927 [2]. - The total supply of gold in the quarter is 1,313.01 tons, up 54.84; the total supply of silver in the year is 987.8 million troy ounces, down 21.4 [2]. - The total demand for gold in the quarter is 1,313.01 tons, up 54.83; the global total demand for silver in the year is 1,195 million ounces, down 47.4 [2]. 3.4 Option Market - The 20 - day historical volatility of gold is 12.24%, up 0.06; the 40 - day historical volatility is 11.76%, down 0.19 [2]. - The implied volatility of at - the - money call options for gold is 21.07%, down 0.03; that of at - the - money put options is 21.08%, down 0.03 [2]. 3.5 Industry News - The US and the EU reached a 15% tariff agreement. Trump said the agreement would impose a 15% tariff on most European goods exported to the US. The EU will increase its investment in the US by $600 billion, buy US military equipment, and purchase $750 billion of US energy products. Some products will be exempt from tariffs, and details of the trade agreement framework will be announced in the next few weeks [2]. - US Secretary of State Rubio said Trump's patience for Russia to end the Russia - Ukraine conflict is running out [2]. - According to CME's "FedWatch", the probability that the Fed will keep interest rates unchanged in July is 97.4%, and the probability of a 25 - basis - point rate cut is 2.6%. The probability of keeping interest rates unchanged in September is 35.9%, the probability of a cumulative 25 - basis - point rate cut is 62.4%, and the probability of a cumulative 50 - basis - point rate cut is 1.6% [2].

Report Industry Investment Rating - No relevant content provided Core Viewpoints - The polysilicon market is expected to face adjustments next week, with prices likely to fluctuate. Although prices are supported by costs and policies, the upside is limited by downstream acceptance. The short - term decline in futures may not lead to a significant drop in spot prices. It is recommended to wait and see or consider bearish options [2] Summary by Directory Futures Market - The closing price of the main polysilicon contract was 49,405 yuan/ton, down 1,620 yuan; the open interest was 136,295 lots, down 18,873 lots. The 8 - 9 month polysilicon spread was - 75 yuan, down 50 yuan, and the polysilicon - industrial silicon spread was 40,490 yuan/ton, down 810 yuan [2] 现货市场 - The spot price of polysilicon was 46,500 yuan/ton, up 500 yuan; the basis was - 4,525 yuan/ton, up 3,240 yuan. The weekly average price of photovoltaic - grade polysilicon was 4.94 US dollars/kg, unchanged. The average prices of cauliflower, dense, and re - feed polysilicon were 30 yuan/kg, 36 yuan/kg, and 34.8 yuan/kg respectively, all unchanged [2] Upstream Situation - The closing price of the main industrial silicon contract was 8,915 yuan/ton, down 810 yuan; the spot price was 10,100 yuan/ton, unchanged. The monthly export volume of industrial silicon was 52,919.65 tons, down 12,197.89 tons; the import volume was 2,211.36 tons, up 71.51 tons. The monthly output was 305,200 tons, up 5,500 tons, and the total social inventory was 552,000 tons, up 10,000 tons [2] Industry Situation - The monthly output of polysilicon was 95,000 tons, down 1,000 tons; the monthly import volume was 1,113 tons, up 320 tons. The weekly spot price of imported polysilicon in China was 6.01 US dollars/kg, up 0.98 US dollars; the monthly average import price was 2.19 US dollars/ton, down 0.14 US dollars [2] 下游情况 - The monthly output of solar cells was 67.386 million kilowatts, down 3.183 million kilowatts. The average price of solar cells was 0.82 RMB/W, up 0.01 RMB. The monthly export volume of photovoltaic modules was 88,975,860 units, down 14,424,120 units; the import volume was 11,095,900 units, down 1,002,590 units, and the average import price was 0.31 US dollars/unit, down 0.01 US dollars. The weekly polysilicon price index of the photovoltaic industry was 26.63, up 4.34 [2] Industry News - As of the end of June, the total installed power generation capacity in China was 3.65 billion kilowatts, a year - on - year increase of 18.7%. Among them, the installed capacity of solar power was 1.1 billion kilowatts, a year - on - year increase of 54.2%; the installed capacity of wind power was 570 million kilowatts, a year - on - year increase of 22.7%. From January to June, the average utilization hours of power generation equipment were 1,504 hours, 162 hours less than the same period last year [2] - On the supply side, some domestic polysilicon production bases or production lines are gradually resuming production, but the capacity will be released in August, having limited impact on July's supply. There is a potential increasing trend in supply. On the demand side, the demand from the downstream photovoltaic industry is a key factor. The overall operating rate of the silicon wafer industry has slightly decreased, and the new order transaction activity of silicon materials has increased. However, photovoltaic component manufacturers are pressing prices when purchasing polysilicon, and the demand - side support is insufficient [2]

生猪产业日报 2025-07-28 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货盘面 | 期货主力合约收盘价:生猪(日,元/吨) | 14125 | -260 主力合约持仓量:生猪(日,手) | 61415 | -881 | | | 仓单数量:生猪(日,手) | 284 | 0 期货前20名持仓:净买单量:生猪(日,手) | -24623 | 809 | | 现货价格 | 生猪价 河南 驻马店(日,元/吨) | 14000 | -100 生猪价 吉林 四平(日,元/吨) | 13800 | -100 | | | 生猪价 广东 云浮(日,元/吨) | 15500 | 0 生猪主力基差(日,元/吨) | -125 | 160 | | 上游情况 | 生猪存栏(月,万头) CPI:当月同比(月,%) | 42447 | 716 生猪存栏:能繁母猪(月,万头) | 4042 | 4 | | 产业情况 | | 0.1 | 0.2 现货价:豆粕:张家港(日,元/吨) | 2860 | | | | 玉米现 ...

Report Industry Investment Rating - No information provided Core Viewpoints - The supply of soda ash is expected to remain abundant, demand will continue to decline, and prices will remain under pressure. It's recommended to consider buying put options for the soda ash main contract [2] - The probability of a correction in the glass market has increased. Although the fundamentals of glass have improved, the terminal demand has not improved. It's advisable to wait and see for now [2] Summary by Relevant Catalogs Futures Market - The closing price of the soda ash main contract was 1316 yuan/ton, down 124 yuan; the closing price of the glass main contract was 1223 yuan/ton, down 139 yuan [2] - The net position of the top 20 soda ash traders was -290077, an increase of 8272; the net position of the top 20 glass traders was -176305, an increase of 8320 [2] - The soda ash 9 - 1 contract spread was -76 yuan, an increase of 1 yuan; the glass 9 - 1 contract spread was -64 yuan, an increase of 31 yuan [2] - The soda ash basis was -50 yuan/ton, an increase of 38 yuan; the glass basis was -150 yuan/ton, a decrease of 7 yuan [2] Spot Market - The price of North China heavy soda ash was 1390 yuan/ton, an increase of 70 yuan; the price of Central China heavy soda ash was 1325 yuan/ton, an increase of 50 yuan [2] - The price of East China light soda ash was 1250 yuan/ton, an increase of 75 yuan; the price of Central China light soda ash was 1250 yuan/ton, an increase of 55 yuan [2] - The price of Shahe glass sheets was 1212 yuan/ton, an increase of 48 yuan; the price of Central China glass sheets was 1230 yuan/ton, an increase of 40 yuan [2] Industry Situation - The operating rate of soda ash plants was 83.02%, a decrease of 1.08 percentage points; the operating rate of float glass enterprises was 75%, a decrease of 0.34 percentage points [2] - The in - production capacity of glass was 15.89 million tons/year, an increase of 0.11 million tons; the number of in - production glass production lines was 223, unchanged [2] - The inventory of soda ash enterprises was 178.36 million tons, a decrease of 8.1 million tons; the inventory of glass enterprises was 6189.6 million heavy boxes, a decrease of 304.3 million heavy boxes [2] Downstream Situation - The cumulative value of new construction area in the real estate industry was 30364.32 million square meters, an increase of 7180.71 million square meters; the cumulative value of completed area was 22566.61 million square meters, an increase of 4181.47 million square meters [2] Industry News - The State Council deployed measures to gradually implement free preschool education [2] - The CSRC aimed to consolidate the market's stable and positive trend and improve the market - stabilizing mechanism [2] - The CSRC approved the registration of linear low - density polyethylene, polyvinyl chloride, and polypropylene monthly average price futures [2] - The CSRC solicited public opinions on the revised "Corporate Governance Guidelines for Listed Companies" [2] - From January to June, the total profit of industrial enterprises above the designated size was 34365.0 billion yuan, a year - on - year decrease of 1.8% [2] - In the first half of 2025, the stamp duty revenue was 1953 billion yuan, a year - on - year increase of 19.7%; the securities trading stamp duty was 785 billion yuan, a year - on - year increase of 54.1% [2]

热轧卷板产业链日报 2025/7/28 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | HC 主力合约收盘价(元/吨) | 3,397 | -110↓ HC 主力合约持仓量(手) | 1481167 | -73396↓ | | | HC 合约前20名净持仓(手) | -65,607 | -2345↓ HC10-1合约价差(元/吨) | -12 | -1↓ | | | HC 上期所仓单日报(日，吨) | 58362 | 0.00 HC2510-RB2510合约价差(元/吨) | 149 | -2↓ | | 现货市场 | 杭州 4.75热轧板卷(元/吨) | 3,480.00 | -50.00↓ 广州 4.75热轧板卷(元/吨) | 3,460.00 | -50.00↓ | | | 武汉 4.75热轧板卷(元/吨) | 3,490.00 | -30.00↓ 天津 4.75热轧板卷(元/吨) | 3,390.00 | -50.00↓ | | | HC主力合约基差(元/吨) | 83.00 ...

Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Core View of the Report - The overall production of industrial silicon has a potential increasing trend due to the resumption of production in some southwestern regions, despite no significant immediate changes in production data. - The total demand for industrial silicon from its three major downstream industries (organic silicon, polysilicon, and aluminum alloy) continues to show a slowdown trend. - The industrial silicon futures were at the daily limit down today, while the spot price has not yet loosened. It is expected that the spot price will decline slightly in the short - term. The fundamental situation of industrial silicon is poor currently. It is recommended to wait and see in the short - term and adopt a short - selling strategy in the medium - to - long - term [2]. 3. Summary According to Relevant Catalogs Futures Market - The closing price of the main contract was 8,915 yuan/ton, a decrease of 810 yuan; the main contract's open interest was 279,068 lots, a decrease of 44,246 lots; the net position of the top 20 was - 74,088 lots, an increase of 5,853 lots; the Guangzhou Futures Exchange's warehouse receipts were 49,710 lots, a decrease of 66 lots; the price difference between August and September industrial silicon was - 45 yuan, an increase of 15 yuan [2]. 现货市场 - The average price of oxygen - blowing 553 silicon was 9,950 yuan/ton, a decrease of 150 yuan; the average price of 421 silicon was 10,200 yuan/ton, a decrease of 150 yuan; the basis of the Si main contract was 1,035 yuan/ton, an increase of 660 yuan; the DMC spot price was 12,300 yuan/ton, an increase of 300 yuan [2]. Upstream Situation - The average price of silica was 410 yuan/ton, unchanged; the average price of petroleum coke was 1,720 yuan/ton, unchanged; the average price of clean coal was 1,850 yuan/ton, unchanged; the average price of wood chips was 490 yuan/ton, unchanged; the ex - factory price of graphite electrodes (400mm) was 12,250 yuan/ton, unchanged [2]. 产业情况 - The monthly output of industrial silicon was 305,200 tons, an increase of 5,500 tons; the weekly social inventory of industrial silicon was 552,000 tons, an increase of 10,000 tons; the monthly import volume of industrial silicon was 2,211.36 tons, an increase of 71.51 tons; the monthly export volume of industrial silicon was 52,919.65 tons, a decrease of 12,197.89 tons [2]. 下游情况 - The weekly output of organic silicon DMC was 44,900 tons, an increase of 700 tons; the average price of aluminum alloy ADC12 in the Yangtze River spot market was 20,200 yuan/ton, a decrease of 100 yuan; the overseas market price of photovoltaic - grade polysilicon was 15.75 US dollars/kg; the weekly average spot price of photovoltaic - grade polysilicon was 4.94 US dollars/kg; the monthly export volume of unforged aluminum alloy was 25,770.18 tons, an increase of 1,590.89 tons; the weekly operating rate of organic silicon DMC was 65.11%, a decrease of 6.27 percentage points; the monthly output of aluminum alloy was 1.669 million tons, an increase of 24,000 tons; the monthly export volume of aluminum alloy was 20,187.85 tons, a decrease of 337.93 tons [2]. 行业消息 - Trump said that Powell might be ready to cut interest rates and would lower the interest rate. Trump also announced that tariffs would start on August 1st without any extension, and a 50% tariff would be imposed on imported copper. The supply situation of industrial silicon this week was complex. In the northwest Yili region, the fertilizer subsidy policy was stably implemented, and large - scale production enterprises maintained their existing production rhythm. In the southwest region, enterprises in Baoshan were actively resuming production, but the resumption scale in Nujiang and Dehong did not meet expectations. Sichuan manufacturers mainly relied on self - owned power plants to ensure supply, and the overall operating rate did not increase significantly [2].