实体经济图谱2024年第37期：钢厂盈利率显著回升

Economic Overview - Economic conditions show marginal improvement, with demand-side indicators mixed; new home sales remain weak, particularly in lower-tier cities, while second-hand homes are trading at lower prices[1] - Retail sales of passenger cars are increasing due to the implementation of trade-in policies, with a notable rise in sales during the National Day holiday[1] Real Estate Market - In the first ten days of October, new home sales in 42 cities saw a year-on-year decline of 34.2%, while second-hand home sales dropped by 45.6%[5] - The average price of new homes in 100 cities increased by 1.9% year-on-year in September, while second-hand homes saw a decline of 7.1%[5] Automotive Industry - In September, retail sales of passenger cars increased by 2%, and wholesale sales rose by 1%[8] - The inventory warning index for automobiles decreased to 54, indicating improved market conditions[10] Consumer Goods - Sales of major home appliances showed positive growth in August, with air conditioner sales up by 7.3% year-on-year, refrigerators by 10.0%, and washing machines by 13.4%[12] - The average actual revenue per available hotel room increased by 15.4% year-on-year, reflecting strong demand during the holiday season[22] Steel Industry - Steel mill profitability has significantly rebounded, with the operating rate of blast furnaces rising to 80.8% and steel production growth recovering to -5.9%[36] - The price of rebar has increased, driven by macroeconomic policies and rising raw material costs, while hot-rolled steel prices have decreased due to oversupply[36] Cement and Glass Markets - National average cement prices continue to rise, with demand recovering as seasonal weather improves[38] - The average price of float glass has rebounded, with a significant reduction in inventory levels, reaching the lowest since March[41] Agricultural Products - The agricultural product wholesale price index has decreased by 0.6%, with pork prices dropping by 2.3% and egg prices by 2.1%[16] Oil Market - Oil prices have increased due to geopolitical tensions and supply constraints, with the average price rising amid concerns over production limits from OPEC+ members[45]