内盘锑价已基本触底；下半年货币宽松或超预期

Group 1 - The price of antimony in the domestic market has likely reached its bottom, with expectations of recovery due to seasonal demand and potential export growth [1] - Tungsten product prices are hitting new highs, driven by a decrease in supply from domestic quotas and environmental inspections, while overseas production increases are below expectations [1] - The upcoming peak season for flame retardants in September and October may significantly boost domestic antimony prices if export demand recovers [1] Group 2 - The solid-state battery industry is accelerating, with upstream equipment segments expected to benefit first as production processes are optimized [2] - The production process of solid-state batteries differs from traditional lithium batteries, leading to a significant increase in the value of equipment used in the early and mid-stages of production [2] - The transition to dry processing techniques in the electrode and electrolyte preparation stages enhances the value contribution of these processes [2] Group 3 - The monetary policy in the second half of the year may be more accommodative than expected, focusing on economic growth and employment [3] - External factors, such as potential interest rate cuts by the Federal Reserve, may create favorable conditions for monetary easing in China [3] - Domestic economic pressures, including the impact of tariffs and low inflation, suggest a need for further reductions in policy interest rates [3]