黑色系集体“跳水”，政策预期兑现后市场转向理性？｜期市头条

Group 1: Black Commodity Market - The black commodity market experienced a comprehensive decline, with coking coal and coke leading the drop due to a shift in macro sentiment and the realization of policy expectations [2] - Domestic coal production continues to recover, and the import volume of coal from Mongolia has risen to a high level, contributing to the supply-side dynamics [2] - Coking enterprises are currently facing an average production loss of approximately 50 yuan per ton, prompting them to initiate a fifth round of price increases [2] Group 2: Steel Market - The steel market also saw a rise followed by a decline, influenced by major macro events such as US-China trade negotiations and the Central Political Bureau meeting [3] - National construction material output decreased by 30,700 tons to 4.1495 million tons, while social inventory increased by 46,100 tons to 5.5123 million tons [3] - The apparent demand for construction materials fell by 186,900 tons to 4.1652 million tons, indicating a dual weakness in supply and demand [3] Group 3: Chemical Sector - The chemical sector showed overall weakness, with polyvinyl chloride (PVC) being the leading declining product [4] - The operating rate of the soda ash industry reached 81.7%, up 3.62 percentage points week-on-week, as previously shut-down enterprises resumed production [4] - Despite stable spot prices, the sentiment in the soda ash market has significantly declined, leading to increased downward pressure on futures prices [4] Group 4: Pig Farming Sector - The pig market saw a noticeable decline in futures prices, with the main contract dropping by 1.81% on Monday, followed by a period of adjustment [5] - The supply pressure in the market has increased as some farming enterprises ramped up their slaughtering efforts to meet monthly targets, leading to continued price weakness [5] - After reaching a peak in early July, pig prices have entered a downward trend, resulting in shrinking farming profits [5]