国内高频 | 暑期人流持续高位（申万宏观·赵伟团队）

Group 1: Industrial Production - Industrial production has shown signs of recovery, with the blast furnace operating rate increasing by 1.1 percentage points year-on-year to 5.9% [2][5] - Midstream production shows a mixed outlook, with PTA and automotive production performing poorly, down 6.6% and 5.9% year-on-year respectively, while soda ash and polyester filament production improved, up 5.8% and 3.1% year-on-year [2][17] - Cement production continues to improve, with a slight decrease in grinding operating rate by 1.5 percentage points year-on-year to -5.6%, while cement shipment rates are still low, up 0.8% year-on-year to -2.9% [2][29] Group 2: Construction Industry - The construction industry is experiencing continued improvement, with asphalt operating rates rising by 0.5 percentage points year-on-year to 8.6% [2][41] - Cement inventory has slightly decreased, with the cement inventory ratio down by 2.0 percentage points year-on-year to -2.5% [2][37] Group 3: Downstream Demand - Passenger traffic remains high, with port cargo throughput showing resilience, increasing by 7.1% year-on-year to 9.7% [2][62] - Daily average transaction area of new homes is weak, up 2.9 percentage points year-on-year to -6.3%, with first-tier cities seeing a marginal recovery [2][53] Group 4: Price Trends - Agricultural product prices are mixed, with pork and fruit prices decreasing by 0.1% and 0.8% respectively, while egg and vegetable prices increased by 1.7% and 2.5% [3][102] - Industrial product prices have generally declined, with the Nanhua Industrial Price Index down 1.4% [3][114]