Group 1: Investment Ratings - Not provided in the given report Group 2: Core Views - The report covers various sectors including bonds, stocks, precious metals, and commodities, providing analyses and trading suggestions for each sector. For example, it expects that treasury bond futures may not have a trending market and advises caution; stock index futures are expected to have limited downside risk and suggests seizing opportunities to go long; precious metals are currently over - priced, and it is recommended to take profits on long positions and then wait and see [6][9][11]. Group 3: Sector - Specific Summaries Bonds - **Treasury Bonds**: The previous trading day saw mixed results for treasury bond futures. The central bank conducted 783 billion yuan of 7 - day reverse repurchase operations, resulting in a net withdrawal of 259 billion yuan. China's October S&P manufacturing PMI showed a slowdown in the expansion trend. Given the current economic situation, treasury bond futures are expected to have no trending market, and caution is advised [5][6]. Stocks - **Stock Index**: The previous trading day, stock index futures showed mixed performance. With the release of new immigration and entry - exit policies, and considering the current economic situation (stable but with weak recovery momentum), combined with low domestic asset valuations and sufficient economic resilience, along with the inflow of incremental funds and the easing of Sino - US economic and trade uncertainties, it is expected that there is limited downside risk, and opportunities to go long can be seized [8][9]. Precious Metals - **Gold and Silver**: The previous trading day, gold and silver futures showed small increases. Fed officials' remarks suggest potential interest rate cuts. The complex global trade and financial environment, the "de - globalization" and "de - dollarization" trends, and the slowdown of the US labor market are all favorable for precious metals. However, due to the recent large increase in prices, it is recommended to take profits on long positions and then wait and see [11]. Commodities - **Steel Products (Thread, Hot - Rolled Coil)**: The previous trading day, steel product futures slightly declined. In the medium term, the price of steel products is dominated by industrial supply - demand logic. The demand for rebar is still in a year - on - year decline, and the supply side has over - capacity issues. Considering the current high inventory, the price of rebar is expected to remain weak, and hot - rolled coils may follow a similar trend. Investors can focus on short - selling opportunities at high prices during rebounds [13][14]. - **Iron Ore**: The previous trading day, iron ore futures significantly declined. The demand for iron ore has decreased, while the supply is expected to increase year - on - year in the fourth quarter, and the port inventory is rising. The market supply - demand pattern has weakened, and investors can focus on short - selling opportunities at high prices [16]. - **Coking Coal and Coke**: The previous trading day, coking coal and coke futures continued to decline. The supply of coking coal is slightly tight, and the price of coke is facing an upward adjustment. From a technical perspective, the futures may continue to be strong in the short term, and investors can focus on buying opportunities during pullbacks [18][19]. - **Ferroalloys**: The previous trading day, ferroalloy futures showed small increases. The supply of ferroalloys is currently in a state of over - supply, but the cost is rising, and the downward space is limited. There may be short - term disturbances in supply reduction expectations, and investors can consider long - position opportunities at low prices [21][22]. - **Crude Oil**: The previous trading day, INE crude oil oscillated upward. The increase in the number of US drilling rigs does not necessarily lead to an increase in production. US sanctions on Russian oil companies and OPEC's decision to suspend production increases are all favorable for oil prices. Investors can focus on long - position opportunities [23][24]. - **Fuel Oil**: The previous trading day, fuel oil oscillated upward. The recovery of Singapore's fuel oil supply is negative for prices, while the sanctions on Russia and the reduction of Sino - US trade frictions are positive. Investors can focus on long - position opportunities [26][27]. - **Polyolefins**: The previous trading day, the PP and LLDPE markets showed some adjustments. In November, the impact of maintenance is expected to be high, and the inventory is low. November is the peak season for demand, so the market is expected to rebound. For now, it is recommended to wait and see [29]. - **Synthetic Rubber**: The previous trading day, synthetic rubber futures declined. The cost side is weak, and the price is expected to have limited downward space. It is recommended to pay attention to raw material prices and supply changes. The market is expected to oscillate [31][33]. - **Natural Rubber**: The previous trading day, natural rubber futures declined. The supply is affected by bad weather, and the demand is weak. The inventory is decreasing. It is recommended to pay attention to production area conditions and demand expectations, and there may be long - position opportunities [34][35]. - **PVC**: The previous trading day, PVC futures declined. The current supply - demand situation is still oversupplied, but the downward space is limited. It is recommended to pay attention to export and supply reduction after the festival [36][37]. - **Urea**: The previous trading day, urea futures declined. In the short term, it is necessary to pay attention to export policies and seasonal recovery signals of agricultural demand. The price is expected to fluctuate within a narrow range, and the downward space is limited [38]. - **PX**: The previous trading day, PX futures increased. The supply - demand structure has improved, and the cost side is affected by crude oil fluctuations. The price is expected to oscillate, and investors can participate within a certain range while paying attention to crude oil changes and macro - policies [39]. - **PTA**: The previous trading day, PTA futures increased. The supply side has some adjustments, and the demand side is relatively stable. The processing fee is low, and the inventory is low. The price is expected to oscillate, and investors should be cautious and pay attention to oil prices [40]. - **Ethylene Glycol**: The previous trading day, ethylene glycol futures declined. The supply is increasing, and the inventory may accumulate slightly. However, the demand is expected to improve, and the cost side sentiment is positive. The price is expected to oscillate, and investors can participate within a certain range while paying attention to port inventory and imports [41]. - **Short - Fiber**: The previous trading day, short - fiber futures declined. The supply is at a relatively high level, and the demand is improving, but the cost - driving force is limited. The price is expected to oscillate with the cost, and investors should pay attention to cost changes and macro - policy adjustments [42]. - **Bottle Chips**: The previous trading day, bottle chip futures increased. The processing fee has decreased, the supply is increasing slightly, and the export growth is slowing down. The price is expected to oscillate with the cost, and investors should control risks [43]. - **Lithium Carbonate**: The previous trading day, lithium carbonate futures declined. The supply is at a high level, and the demand is also strong, with the inventory gradually decreasing. It is recommended to pay attention to the sustainability of consumption [44][45]. - **Copper**: The previous trading day, copper futures declined. The Sino - US trade negotiation is in a stalemate, and the Fed's interest rate cut has a complex impact on copper prices. The supply of copper concentrate is tight, and high prices suppress demand. The price is expected to enter a sideways consolidation phase [46][47]. - **Aluminum**: The previous trading day, aluminum futures showed mixed results. The supply of alumina is in an oversupply situation, and the production of electrolytic aluminum may be affected by winter restrictions. High prices may suppress demand, but the inventory is decreasing. The price is expected to remain at a high level [48][49][50]. - **Zinc**: The previous trading day, zinc futures increased. The supply of zinc concentrate is tight, and the production of refined zinc is limited. The demand is weak. The price is expected to continue to oscillate [51][52]. - **Lead**: The previous trading day, lead futures increased. The supply of primary lead is increasing, and the supply of recycled lead is recovering slowly. High prices suppress demand. The price is supported by low inventory and cost, but the upward space is limited, and it is recommended to be cautious when going long [53][54]. - **Tin**: The previous trading day, tin futures declined. The supply of tin ore is tight, and the demand has certain support. The inventory is decreasing. The price is expected to oscillate strongly [54]. - **Nickel**: The previous trading day, nickel futures declined. The macro - environment has improved, but the supply - demand situation is complex. The supply of high - grade nickel ore is tight, and the demand is weak. The price is expected to oscillate [55]. - **Soybean Oil and Soybean Meal**: The previous trading day, soybean meal futures increased, and soybean oil futures decreased. Sino - US trade relations are expected to improve, and the Brazilian soybean sowing is progressing smoothly. The supply of soybeans is relatively loose, and the demand for soybean meal is expected to grow moderately, while the demand for soybean oil is suppressed. It is recommended to consider taking profits on long - positions in soybean meal and wait and see for soybean oil [56][57]. - **Palm Oil**: The previous trading day, palm oil futures declined. The supply is increasing, and the market is expected to be weak. It is recommended to focus on short - selling opportunities during rebounds [60]. - **Rapeseed Meal and Rapeseed Oil**: The previous trading day, rapeseed meal and rapeseed oil futures increased. The supply of eggs is high, and the demand is weak. It is recommended to hold short - positions and consider adding short - positions during rebounds [61][62]. - **Cotton**: The previous trading day, cotton futures oscillated. Sino - US trade relations are favorable in the long - term, but short - term international cotton prices are under pressure. Domestic cotton has a strong production expectation, and the demand is neutral - weak. The price is expected to have limited upward space [63][64]. - **Sugar**: The previous trading day, sugar futures rebounded. Brazilian sugar production is expected to increase, and the global sugar supply is expected to be in surplus, which restricts price rebounds. The domestic supply pressure in the fourth quarter is not large, and the price has certain support at the bottom [65][66][67]. - **Apple**: The previous trading day, apple futures declined. The quality of this year's apples is poor, and the opening price is higher than last year. The price is expected to be strong in the short term [69][70][71]. - **Live Pigs**: The previous trading day, live pig futures declined. The pig price is expected to be weak, and the supply is increasing. It is recommended to focus on short - selling opportunities during rebounds [72][73]. - **Eggs**: The previous trading day, egg futures increased. The supply of eggs is high, and the demand is weak. It is recommended to hold short - positions and consider adding short - positions during rebounds [74][75]. - **Corn and Starch**: The previous trading day, corn and starch futures increased. The price of corn is affected by the rise in soybean prices. The inventory situation is complex, and the demand is growing slightly. The price of corn is expected to be under pressure, and starch may follow the trend of corn [76][77].

Group 1 - The Sci-Tech Innovation Board (STAR Market) has several ETFs that track different indices, focusing on companies with strong market capitalization and liquidity in the technology sector [2][3][4] - The STAR 50 ETF tracks the STAR 50 Index, which consists of 50 large-cap stocks, with over 65% in the semiconductor sector and nearly 80% combined with medical devices, software development, and photovoltaic equipment [2] - The STAR 100 ETF follows the STAR 100 Index, comprising 100 mid-cap stocks, with over 80% in electronics, biomedicine, and power equipment sectors, highlighting a significant focus on small and medium-sized tech enterprises [3] Group 2 - The STAR Comprehensive Index ETF tracks the overall STAR Market, covering all 17 primary industries listed on the board, including artificial intelligence, semiconductors, new energy, and innovative pharmaceuticals, showcasing both high growth potential and risk diversification [5] - As of the latest trading session, the STAR 50 Index increased by 2% with a rolling price-to-earnings ratio of 159.3, while the STAR 100 Index rose by 4% with a rolling price-to-earnings ratio of (0).243 [2][3] - The STAR Comprehensive Index experienced a decline of 1.1% with a rolling price-to-earnings ratio of 222.0, indicating varying performance across different indices [5]

Core Viewpoint - A new company, Jinan Qibu District Suifa New Energy Power Generation Co., Ltd., has been established, focusing on renewable energy services, including wind and solar power generation, and is fully owned by Guangzhou Development New Energy Group Co., Ltd. [1] Group 1 - The newly established company has a registered capital of 16 million yuan [1] - The business scope includes wind power generation technology services, solar power generation technology services, sales of charging piles, centralized fast charging stations, and energy storage technology services [1] - The legal representative of the company is Gao Peng [1] Group 2 - The company is fully owned by Guangzhou Development (stock code: 600098) [1]

Core Insights - The cyclical fluctuations in the heavy truck industry are being disrupted, as evidenced by Weichai Power's strong performance in Q3 2025, with revenue reaching 574.2 billion yuan, a year-on-year increase of 16.1%, and net profit of 32.3 billion yuan, up 29.5% [1][3] Group 1: Financial Performance - Weichai Power reported a total revenue of 1,705.71 billion yuan for the first three quarters of 2025, reflecting a year-on-year growth of 5.32%, and a net profit of 88.78 billion yuan, up 5.67% [1][3] - The third quarter alone saw record-breaking figures, with revenue and net profit reaching historical highs [1][3] Group 2: Market Dynamics - The heavy truck market in China showed a robust recovery, with total sales of 823,000 units in the first three quarters of 2025, marking a year-on-year increase of 20.5% [2] - The demand for natural gas heavy trucks is rebounding due to policies promoting vehicle replacement and the recovery of oil and gas price differentials, with Q3 sales of natural gas heavy trucks increasing by 37% year-on-year [2] Group 3: Product Development - Weichai has developed a comprehensive product matrix, including the WP16NG4.0 gas engine and the new H/T2.0 high-efficiency engine, which are setting industry benchmarks for performance and efficiency [2] - The company is also advancing its new energy product lines, with the first phase of its new energy power industry park officially launched, producing high-end power solutions for commercial vehicles and construction machinery [2] Group 4: International Expansion - Weichai's internationalization strategy has effectively mitigated cyclical fluctuations in the heavy truck industry, with the company having acquired 10 overseas enterprises, all of which are profitable [5] - The company has established a global collaborative R&D platform and has been actively involved in cross-border mergers and partnerships to enhance its technological capabilities [5][6] Group 5: Future Outlook - Weichai is collaborating with leading firms like Accenture to develop AI-driven industrial vehicles and digital twin models, aiming to expand its market share in the Asia-Pacific region [6] - The company’s subsidiary, Kion Group, reported strong demand, with a total new order value increasing by 18.3% to 8.88 billion euros in Q3 2025 [6]

Core Insights - The "Value Qianxing" 2025 high-quality enterprise investment and financing roadshow focuses on strategic emerging industries such as AI, new energy, and ecological environmental protection [1][2] - The event featured presentations from various companies highlighting their core technological advantages, market prospects, and financing needs [1] Group 1: Participating Companies - Guizhou Oruixin Environmental Protection Co., Ltd. introduced its core technology in comprehensive treatment of filter press return liquid, achieving breakthroughs in solid waste disposal, wastewater treatment, and environmental pollution control [1] - Guizhou Fengmao Supply Chain Management Co., Ltd. focuses on the liquid inorganic chemical sector, utilizing digital management to enhance logistics services, including trade, transportation, warehousing, and freight forwarding [1] - Xidao Technology Co., Ltd. is expanding smart community governance through intelligent maintenance, AI elevators, and community traffic value-added services [1] Group 2: Investment and Collaboration - The event was attended by nearly 20 investment institutions, including Huachuang Securities, Qiansheng Fund, and Bank of China Guizhou Branch, facilitating professional discussions on technology routes, market expansion, and profit models [2] - The roadshow aims to match capital with industry needs, providing a growth acceleration path for quality enterprises [2] - The Guizhou Capital Market Service Center plans to implement a comprehensive service system of "roadshow + incubation + listing" to support more quality enterprises transitioning from "laboratory" to "capital market" [2]

2025年11月4日，创业板新能源ETF华夏（159368）回调1.67%，持仓股帝尔激光、中来股份、特锐 德翻红。 （责任编辑：张晓波 ） 中信证券认为欧洲大储呈现加速增长态势，伴随欧洲负电价提升现货峰谷价差，多数国家储能项目 收益率已提升至10%-15%，且西班牙大停电后欧洲各国政府加大储能支持力度，2025年有望成为欧洲大 储爆发拐点。 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 创业板新能源ETF华夏（159368）是全市场跟踪创业板新能源指数的规模最大ETF基金。创业板新 能源指数主要涵盖新能源和新能源汽车产业，涉及电池、光伏等多个细分领域。创业板新能源ETF华夏 （159368）弹性最大，涨幅可达20cm；费率最低，管理费和托管费合计仅为0.2%；规模最大，截至 2025年10月31日，规模达8.29亿元；成交额最大，近一月日均成交9005万元。其储能含量达51%，固态 电池含量达30%， ...

Core Insights - The article discusses the third-quarter report of Jiang Cheng, a well-known fund manager at Zhongtai Asset Management, highlighting his investment strategies and portfolio adjustments in response to market conditions [1][3][12]. Fund Performance and Adjustments - Jiang Cheng's funds maintained a high level of stability with passive adjustments, showing no new stocks added to the heavy positions during the quarter [3][4]. - Despite the A-share market reaching a 10-year high, Jiang Cheng's performance slightly lagged behind the benchmark, indicating a conservative approach amidst a market driven by emerging industries [3][5]. - The total assets under Jiang Cheng's management decreased by nearly 400 million yuan, reaching 12.219 billion yuan by the end of the third quarter of 2025 [4]. Investment Strategy - Jiang Cheng's strategy involved a "buy low, sell high" approach, where he reduced positions in stocks that had appreciated significantly while increasing holdings in those that had declined [6][12]. - In the third quarter, Jiang Cheng increased his positions in bank stocks significantly, with a 46.23% increase in Hong Kong's Industrial and Commercial Bank and a 25.06% increase in A-share's China Merchants Bank [9][10]. - The focus remained on sectors like construction, real estate, and banking, with a notable lack of engagement in high-growth technology stocks [5][12]. Portfolio Composition - The concentration of holdings in Jiang Cheng's funds slightly increased, with Zhongtai Xingyuan and Zhongtai Yuheng reaching 72.12% and 72.40% respectively [8]. - Jiang Cheng's funds saw net redemptions, prompting adjustments in heavy positions to comply with regulatory limits [6][7]. Market Outlook - Jiang Cheng emphasized a long-term investment perspective, focusing on the overall potential of assets rather than short-term fluctuations [12][13]. - He acknowledged the rapid demand growth in sectors like artificial intelligence and new energy, while maintaining a cautious stance on the current market dynamics [12].

Core Insights - The three major Chinese oil companies, namely China National Petroleum Corporation (CNPC), China Petroleum & Chemical Corporation (Sinopec), and China National Offshore Oil Corporation (CNOOC), reported a decline in profits for the first three quarters of 2025 due to falling international oil prices, with a combined net profit of 258.25 billion yuan [1] - Despite the profit decline, these companies are actively expanding into renewable energy sectors while solidifying their core oil and gas businesses [1] Group 1: China National Petroleum Corporation (CNPC) - CNPC led in revenue and net profit among the three companies, achieving approximately 2.17 trillion yuan in revenue and a net profit of 126.29 billion yuan for the first three quarters [1] - In the third quarter, CNPC reported revenue of 719.16 billion yuan and a net profit of 42.29 billion yuan [1] - The company experienced stable growth in oil and gas production, with a total oil equivalent production of 1.377 billion barrels, a year-on-year increase of 2.6% [2] Group 2: China National Offshore Oil Corporation (CNOOC) - CNOOC's revenue for the first three quarters was 312.50 billion yuan, with a net profit of 101.97 billion yuan, reflecting a revenue increase of 5.68% in the third quarter but a net profit decrease of 12.16% [3][4] - The company achieved a net production of 578.3 million barrels of oil equivalent, a year-on-year increase of 6.7%, with natural gas production rising by 11.6% [3] - CNOOC maintained a competitive edge with a cost of $27.35 per barrel, a decrease of 2.8% year-on-year [3] Group 3: China Petroleum & Chemical Corporation (Sinopec) - Sinopec reported a revenue of 2.11 trillion yuan for the first three quarters, a decline of 10.7%, and a net profit of 29.98 billion yuan, down 32.2% [4][5] - The exploration and development segment was a highlight, generating an EBITDA of 38.09 billion yuan, making it the largest profit source for Sinopec [4] - The chemical segment faced significant losses, with an EBITDA loss of 8.22 billion yuan, primarily due to low product prices from increased domestic chemical production [5] Group 4: Strategic Initiatives - Sinopec plans to focus on stabilizing oil production, expanding gas, promoting hydrogen, increasing electricity, and enhancing non-oil business efficiency [6]

Investment Rating - The report maintains an investment rating of "Synchronize with the market - A" for the power equipment and new energy industry [1]. Core Viewpoints - The report highlights the recent market performance of the power equipment and new energy industry over the past year, indicating a stable outlook amidst ongoing developments in technology and policy [1]. - It emphasizes the importance of multi-energy integration, including wind, solar, water, and nuclear energy, as outlined in the "14th Five-Year Plan" [4]. - The report notes that the National Energy Administration has set key tasks for the "14th Five-Year" period, focusing on expanding new energy supply, promoting integrated development, and enhancing consumption levels [3]. Summary by Relevant Sections Preferred Stocks - The report lists several preferred stocks with ratings, including: - Aishuo Co., Ltd. (600732.SH) - Buy - B - Longi Green Energy (601012.SH) - Buy - B - Daqian Energy (688303.SH) - Buy - B - Fulete (601865.SH) - Buy - A - Hengdian East Magnet (002056.SZ) - Buy - A - Sungrow Power Supply (300274.SZ) - Buy - A - Deye Co., Ltd. (605117.SH) - Buy - A - Langxin Group (300682.SZ) - Buy - B - Quartz Co., Ltd. (603688.SH) - Buy - A - Bowei Alloy (601137.SH) - Buy - A [2]. Price Tracking - The report provides price tracking for various components in the industry: - Polysilicon prices remain stable at 52.0 CNY/kg for dense materials and 50.0 CNY/kg for granular silicon [5]. - Silicon wafer prices are stable, with 182-183.75mm N-type wafers priced at 1.35 CNY/piece and 210mm N-type wafers at 1.70 CNY/piece [6]. - Battery cell prices show a slight decrease for 182-183.75mm N-type cells to 0.310 CNY/W, while 210mm N-type cells remain stable [6]. - Module prices are stable across various types, with 182*182-210mm TOPCon double-glass modules priced at 0.693 CNY/W [7]. Investment Suggestions - The report recommends focusing on specific sectors: - BC new technology direction: Aishuo Co., Ltd., Longi Green Energy - Supply-side direction: Daqian Energy, Fulete - Light storage direction: Sungrow Power Supply, Deye Co., Ltd. - Power market direction: Langxin Group - Domestic substitution direction: Quartz Co., Ltd. - Overseas layout direction: Hengdian East Magnet, Bowei Alloy [8].

Group 1: Report Industry Investment Ratings - No industry investment ratings are provided in the report. Group 2: Core Views of the Report - China's October RatingDog manufacturing PMI data was mixed. The PMI was 50.6, indicating continued improvement in manufacturing sentiment, but lower than the previous value of 51.2, suggesting a slowdown in growth [7]. - The soymeal market should focus on the return to US soybean cost trading. The domestic soymeal market has been in a "trade news trading" phase since late August. After the US President's Asian trip at the end of October, relevant trade agreements were reached, which had a substantial positive impact on US soybeans and soymeal. The price of US soybeans reached a new high in nearly 16 months, and domestic soymeal rebounded cautiously [8]. - The soda ash market trend remains weak. In the short term, the reduction in glass production in the Shahe area has put pressure on the rigid demand for soda ash. In the medium term, the problems of high production and high inventory in the soda ash industry have not slowed down but increased [10]. Group 3: Summaries Based on Related Catalogs Metals - **Gold**: Focus on US bank risks. The trend strength is 0, indicating a neutral view [13][16][18]. - **Silver**: It is expected to have an oscillatory rebound. The trend strength is 1, indicating a slightly bullish view [13][16][18]. - **Copper**: The decrease in LME inventory limits price decline. The trend strength is 0, indicating a neutral view [13][20][22]. - **Zinc**: It is expected to run strongly. The trend strength is 0, indicating a neutral view [13][23][25]. - **Lead**: The continuous decrease in overseas inventory supports the price. The trend strength is 0, indicating a neutral view [13][26][27]. - **Tin**: Pay attention to macro - impacts. The trend strength is 1, indicating a slightly bullish view [13][29][32]. - **Aluminum**: It is expected to have a strong - oscillatory trend. The trend strength is 1, indicating a slightly bullish view [13][33][35]. - **Alumina**: There is support at the bottom. The trend strength is 0, indicating a neutral view [13][33][35]. - **Cast Aluminum Alloy**: It is expected to have a strong - oscillatory trend. The trend strength is 1, indicating a slightly bullish view [13][33][35]. - **Nickel**: The accumulation of inventory at the smelting end suppresses the price, while the uncertainty at the ore end provides support. The trend strength is 0, indicating a neutral view [13][37][39]. - **Stainless Steel**: The steel price is expected to run in a narrow range at a low level. The trend strength is 0, indicating a neutral view [13][37][39]. Energy and Chemicals - **Carbonate Lithium**: There is a game between improving demand and the expectation of resuming production, and it is expected to oscillate within a range. The trend strength is 0, indicating a neutral view [13][40][43]. - **Industrial Silicon**: The warehouse receipts continue to decline, and the bottom support is relatively strong. The trend strength is 1, indicating a slightly bullish view [13][44][47]. - **Polysilicon**: Pay attention to whether an announcement will be released this week. The trend strength is 0, indicating a neutral view [13][45][47]. - **Iron Ore**: It is expected to fluctuate at a high level. The trend strength is 0, indicating a neutral view [13][48]. - **Rebar**: Affected by sector sentiment, it is expected to have a wide - range oscillation. The trend strength is 0, indicating a neutral view [13][50][53]. - **Hot - Rolled Coil**: Affected by sector sentiment, it is expected to have a wide - range oscillation. The trend strength is 0, indicating a neutral view [13][50][53]. - **Silicon Ferrosilicon**: Affected by sector sentiment and supply - demand factors, it is expected to have a wide - range oscillation. The trend strength is 0, indicating a neutral view [13][54][57]. - **Manganese Silicide**: Affected by sector sentiment and supply - demand factors, it is expected to have a wide - range oscillation. The trend strength is 0, indicating a neutral view [13][54][57]. - **Coke**: It is expected to have a strong - oscillatory trend. The trend strength is 0, indicating a neutral view [13][58][60]. - **Coking Coal**: The macro and sector themes resonate, and it is expected to have a strong - oscillatory trend. The trend strength is 0, indicating a neutral view [13][59][60]. - **Log**: It is expected to oscillate repeatedly [13][61].