\银十\或面临多空交织：每周高频跟踪20251011-20251011

1. Report Industry Investment Rating No information about the report industry investment rating is provided in the given content. 2. Report's Core View - In the first two weeks of October, the National Day holiday slowed down industrial production and downstream investment. Food prices declined after the holiday. The SCFI index rose slightly while the CCFI decline widened. Port freight volume remained high during the National Day. Most industrial product operating rates decreased in the first week after the holiday, with a slow resumption. Cement and rebar prices fell slightly, and real - estate transactions decreased seasonally and were lower year - on - year. - For the bond market, the repeated overseas trade situation may briefly boost bond market sentiment, but domestic macro - policies are expected to take effect. In October, fundamental factors are mixed. The market should focus on changes in risk appetite and bond market expectations. The "wide - credit" tools are expected to help the economy achieve its annual growth target [5][40][43]. 3. Summary by Directory 3.1 Inflation - related - Food prices accelerated their decline after the holiday. The average wholesale price of pork, vegetables, and fruits all decreased. The 200 - index of agricultural product wholesale prices and the vegetable basket product wholesale price index changed from rising to falling [9]. 3.2 Import - export related - Freight demand remained strong around the holiday. The CCFI index decline widened, while the SCFI index rebounded. North American route transport demand stabilized slightly due to US trade policy changes, and route freight rates increased. Port throughput remained high during the National Day. The BDI and CDFI indices weakened for two consecutive weeks [13]. 3.3 Industry - related - After the holiday, the thermal coal price stopped falling and stabilized due to increased power plant consumption and potential supply tightening. The rebar inventory reduction slowed down due to the holiday. Copper prices rose strongly for two consecutive weeks due to tight supply and the "weak - dollar" expectation. Glass futures prices fell slightly for two consecutive weeks [17][22]. 3.4 Investment - related - Cement prices declined slightly after the holiday. New and second - hand housing transactions slowed down due to the holiday, with performance weaker than in 2024 [26][30]. 3.5 Consumption - related - From September 1st to 27th, passenger car retail sales were flat year - on - year. Crude oil prices declined for two consecutive weeks. During the National Day holiday, the number of travelers increased slightly year - on - year, but per - capita spending decreased by 0.6% [33][35][38].