周度全追踪（3月第2期）：资金持续南下-2025-03-17

Core Insights - The report indicates an improvement in the economic climate, particularly in sectors such as non-ferrous metals, construction materials, lithium batteries, automotive, and agriculture [3][4] - Price increases are noted in upstream non-ferrous metals and construction materials, midstream manufacturing in lithium batteries, and downstream consumption in automotive and agriculture [3][4] - The report suggests focusing on cyclical resource products, consumer goods, and financial sectors, while also considering growth assets that are experiencing a turnaround [3][4] Industry Overview Upstream Sector - The prices of iron ore and rebar have decreased week-on-week, while the operating rate of blast furnaces has increased [9] - COMEX gold and silver futures prices have risen week-on-week, along with copper prices and rare earth metal prices [11][12] Midstream Manufacturing - In the lithium battery sector, the average price of lithium iron phosphate remains stable, while the price of ternary batteries has increased week-on-week [13] - In the photovoltaic sector, the average price of polysilicon remains unchanged, while the price of PERC solar cells has decreased [13] Downstream Consumption - In February, automotive sales reached 2.129 million units, a year-on-year increase of 34.4%, with significant growth in new energy vehicle sales [18] - The production of power batteries and energy storage batteries has also seen a substantial year-on-year increase of 128.2% [18] TMT Sector - The semiconductor sector shows an increase in the average spot prices of DRAM and NAND, with significant revenue growth reported by IC manufacturing and design companies [25] Financial and Real Estate Sector - The report highlights a decline in real estate development investment and housing starts, while the transaction area of commercial housing in major cities has increased significantly year-on-year [29][30]