基本面高频数据跟踪：煤炭日耗季节性回升

Report Industry Investment Rating No information provided in the content. Core Viewpoints - The Guosheng Fundamental High - Frequency Index remained stable, with an increase in the year - on - year growth rate. The bull - bear signal for interest - rate bonds remained unchanged [1][9]. - Different sectors showed various trends, including a decline in the opening rates of major production varieties, an increase in the land transaction premium rate in real - estate sales, a continuous increase in the asphalt production opening rate in infrastructure investment, a decline in the export container freight rate index, a continuous recovery in passenger car retail and wholesale in consumption, a continuous decline in the agricultural product wholesale price index for CPI, an increase in copper and aluminum prices for PPI, a continuous recovery in passenger transport and flights in transportation, a continuous increase in soda ash inventory, a decrease in local government bond net financing and an increase in credit bond net financing in financing [13][25][33][37][52][60][62][74][83][92]. Summary by Directory Total Index - The Guosheng Fundamental High - Frequency Index was 126.5 points (previous value: 126.4 points), with a year - on - year increase of 5.2 points (previous value: 5.1 points), and the year - on - year growth rate expanded. The bull - bear signal for interest - rate bonds remained unchanged, with a signal factor of 4.8% (previous value: 4.8%) [1][9]. Production - The industrial production high - frequency index was 125.8 (previous value: 125.7), with a year - on - year increase of 4.9 points (previous value: 4.9 points), and the year - on - year growth rate remained unchanged. The opening rates of major production varieties such as electric furnaces, polyester, and steel tires decreased [1][9][13]. Real - Estate Sales - The commercial housing sales high - frequency index was 44.1 (previous value: 44.2), with a year - on - year decrease of 6.4 points (previous value: 6.4 points), and the year - on - year decline rate remained unchanged. The land transaction premium rate in 100 large and medium - sized cities increased to 7.8% (previous value: 7.1%) [1][9][25]. Infrastructure Investment - The infrastructure investment high - frequency index was 119.0 (previous value: 118.8), with a year - on - year increase of 3.0 points (previous value: 2.6 points), and the year - on - year growth rate expanded. The opening rate of the petroleum asphalt device continued to rise to 31.7% (previous value: 31.5%) [1][9][35]. Export - The export high - frequency index was 144.1 (previous value: 144.1), with a year - on - year increase of 4.7 points (previous value: 5.1 points), and the year - on - year growth rate narrowed. The CCFI index and RJ/CRB index decreased [1][9][39]. Consumption - The consumption high - frequency index was 119.5 (previous value: 119.4), with a year - on - year increase of 1.9 points (previous value: 1.7 points), and the year - on - year growth rate expanded. Passenger car retail and wholesale and daily average movie box office continued to recover [1][9][52]. CPI - The CPI monthly - on - monthly forecast was 0.0% (previous value: 0.0%). The agricultural product wholesale price index continued to decline, with changes in the average wholesale prices of pork, vegetables, fruits, and white - striped chickens [1][9][60]. PPI - The PPI monthly - on - monthly forecast was 0.0% (previous value: 0.0%). Copper and aluminum prices increased, while the prices of动力煤 and Brent crude oil remained relatively stable [1][9][62]. Transportation - The transportation high - frequency index was 128.6 (previous value: 128.4), with a year - on - year increase of 8.5 points (previous value: 8.4 points), and the year - on - year growth rate expanded. Passenger transport and flights continued to recover [2][10][74]. Inventory - The inventory high - frequency index was 160.6 (previous value: 160.5), with a year - on - year increase of 9.6 points (previous value: 9.6 points), and the year - on - year growth rate remained unchanged. Soda ash inventory continued to increase [2][10][83]. Financing - The financing high - frequency index was 230.9 (previous value: 230.3), with a year - on - year increase of 29.4 points (previous value: 29.4 points), and the year - on - year growth rate remained unchanged. Local government bond net financing decreased, and credit bond net financing increased [2][10][92].