宏观日报：中游开工分化-20251126

1. Report Industry Investment Rating No relevant information provided. 2. Core View of the Report The report provides an overview of mid - and macro - level events and industry trends, including production and service industries, as well as upstream, mid - stream, and downstream sectors [1][2][3]. 3. Summary by Related Catalogs Mid - and Macro - Level Events - Production Industry: The National Space Administration issued an action plan for the high - quality and safe development of commercial space from 2025 - 2027, aiming to achieve significant development in the industry by 2027 [1]. - Service Industry: Seven双创Artificial Intelligence ETFs will be issued on November 28, focusing on AI leaders in the Sci - tech Innovation Board and ChiNext, bringing incremental funds to high - tech [1]. Upstream Industry - Agriculture: Palm oil prices dropped by nearly 5% [1]. - Chemical Industry: Urea prices rebounded [1]. - Energy Industry: International crude oil and liquefied natural gas prices fluctuated downward [1]. Mid - stream Industry - Chemical Industry: PX operating rate increased, while PTA operating rate declined [2]. - Energy Industry: Coal consumption in power plants increased [2]. - Infrastructure Industry: Asphalt production was in the off - season [2]. Downstream Industry - Real Estate: The sales of commercial housing in second - and third - tier cities declined seasonally [3]. - Service Industry: The number of domestic flights decreased slightly [3]. Key Industry Price Index Tracking - Agriculture: On November 25, the spot price of palm oil was 8392 yuan/ton, down 4.85% year - on - year; the spot price of corn was 2201.4 yuan/ton, up 0.72% [34]. - Non - ferrous Metals: On November 25, the spot price of copper was 86603.3 yuan/ton, up 0.68% year - on - year; the spot price of aluminum was 21373.3 yuan/ton, down 0.47% [34]. - Black Metals: On November 25, the spot price of iron ore was 808.2 yuan/ton, up 0.51% year - on - year; the spot price of wire rod was 3337.5 yuan/ton, up 0.53% [34]. - Energy: On November 25, the spot price of WTI crude oil was 58.8 dollars/barrel, down 1.79% year - on - year; the spot price of liquefied natural gas was 4108 yuan/ton, down 1.77% [34]. - Chemical Industry: On November 25, the spot price of PTA was 4651.7 yuan/ton, up 0.49% year - on - year; the spot price of urea was 1655 yuan/ton, up 1.53% [34]. - Real Estate: On November 25, the building materials composite index was 114.4 points, up 0.55% year - on - year; the national concrete price index was 90.5 points, down 0.33% [34].