央行、美联储及多品种市场动态：开展5000亿逆回购等

Macroeconomic and Industry Insights - The People's Bank of China conducted a 500 billion yuan reverse repurchase operation with a six-month term to maintain liquidity in the banking system [1] - The President of the San Francisco Federal Reserve indicated that the timing for a Federal Reserve interest rate cut may be approaching due to a weak U.S. labor market and a lack of sustained inflation driven by tariffs, but a significant cut of 50 basis points is not necessary in September [1] - Bank of America reiterated a bearish outlook for oil prices in the second half of the year, forecasting an average Brent crude oil price of $63.50 per barrel, with a temporary drop below $60 per barrel [1] Commodity Market Updates - As of August 13, Singapore's fuel oil inventory decreased by 1.674 million barrels to 2.4645 million barrels, marking a three-week low; light distillate oil inventory increased by 1.234 million barrels to 1.424 million barrels, a 16-week high; and middle distillate oil inventory rose by 653,000 barrels to 932,600 barrels, a five-week high [1] - On August 14, Mongolia's ETT company auctioned coking coal with a starting price of $119.6 per ton for 5 premium coal, with all 19,200 tons sold at a price of $131.9 per ton, down $8.4 from the previous day [1] - On August 14, steel mills in Hebei raised the procurement price of coke by 70-75 yuan per ton, while prices in the Ordos market increased by 50-55 yuan per ton, effective from midnight on the same day [1] Aluminum and Chemical Industry Insights - As of this week, China's total built capacity for metallurgical-grade alumina reached 110.32 million tons per year, with an operating capacity of 91.79 million tons per year, and the operating rate increased by 0.63 percentage points to 83.20% due to the end of maintenance at some enterprises [1] - On August 14, domestic port alumina inventory stood at 77,000 tons, a decrease of 10,000 tons from the previous week [1] - A large alumina plant in Shandong raised the price of ion membrane liquid caustic soda by 32% to 770 yuan per ton, effective from August 14 [1] Soda Ash and Glass Industry Updates - This week, the average utilization rate of sample enterprises producing 200,000 tons or more of caustic soda in China was 84.1%, a decrease of 1.0% from the previous week, with varying loads across different regions [1] - As of August 14, the theoretical profit for China's soda ash production using the Leblanc process was 9 yuan per ton, a decrease of 59.50 yuan per ton [1] - Weekly profits for float glass production varied by fuel type, with natural gas down by 21 yuan per ton, coal gas down by 18.95 yuan per ton, and petroleum coke down by 42.86 yuan per ton [1] Agricultural Product Insights - This week, the physical inventory of red dates at 36 sample points was 9,686 tons, a decrease of 98 tons from the previous week, with reduced arrival volumes in sales areas leading to stronger spot prices as some inland merchants returned to Xinjiang for sourcing [1] - As of August 14, the social inventory of industrial silicon in major regions was 545,000 tons, a decrease of 2,000 tons from the previous week [1]