Group 1 - The core viewpoint indicates that the hot-rolled coil futures market is experiencing a strong upward trend despite weak demand from the real estate sector and a slight increase in social inventory [1][2] - The hot-rolled coil main contract opened at 3398.00 yuan/ton and reached a high of 3505.00 yuan, reflecting an increase of approximately 1.83% [1] - Supply and demand fundamentals show that iron ore and coke prices are weakening, leading to insufficient cost support for hot-rolled coil prices [1][2] Group 2 - The Ministry of Industry and Information Technology has outlined eight key tasks for the second half of the year, including enhancing the adaptability of consumer goods supply and demand to boost consumption [2] - Weekly production of hot-rolled coil continues to decline, with a capacity utilization rate of 81.11%, while total inventory has increased by 22,500 tons [2] - Technical analysis indicates that the HC2510 contract's MACD indicator shows downward adjustments, suggesting caution in trading [2]

Report Summary 1. Report Industry Investment Rating - Not provided in the given content. 2. Core Viewpoints - For protein meals, night - session soybean and rapeseed meals showed weak and volatile trends. The overall growth of US soybeans is good, but trade uncertainties make the export outlook of US soybeans worrying, causing the futures price of US soybeans to decline. Considering trade tariff uncertainties, the global soybean - related prices are expected to rise in Q4, and the room for further decline in soybean meal prices is limited [2]. - For oils, night - session oils closed up with volatility. The latest fundamental data from Indonesia is positive, and the head of the Economic and Fiscal Policy Strategy Bureau of the Indonesian Ministry of Finance expects an increase in palm oil product exports to the EU in H2 2025, which will boost palm oil export demand and support palm oil prices. In Malaysia, the latest production and export data are negative in the short - term, but with the support of biodiesel policies in various countries, the medium - and long - term price center of oils is expected to slowly move up [2]. 3. Summary by Relevant Catalogs Domestic Futures Market - **Prices and Changes**: The previous day's closing prices of domestic futures for soybean oil, palm oil, and rapeseed oil were 8120, 8946, and 9406 respectively, with changes of - 24, 10, and - 51 and percentage changes of - 0.29%, 0.11%, and - 3.15% respectively. For soybean meal, rapeseed meal, and peanuts, the previous day's closing prices were 2990, 2647, and 8844 respectively, with changes of - 31, - 23, and 26 and percentage changes of - 1.03%, - 0.86%, and 0.29% respectively [1]. - **Spreads and Ratios**: For spreads like Y9 - 1, P9 - 1, and OI9 - 1, the current values are 44, 14, and 49 respectively, compared with previous values of 40, 8, and 56. For ratios - spreads such as M9 - 1, RM9 - 1, and M - RM09, the current values are - 51, 267, and 330 respectively, compared with previous values of - 38, 270, and 346 [1]. International Futures Market - **Prices and Changes**: The previous day's closing prices of international futures for BMD palm oil, CBOT soybeans, CBOT US soybean oil, and CBOT US soybean meal were 4258 (ringgit/ton), 1012 (cents/bu), 56 (cents/lb), and 279 (dollars/ton) respectively, with changes of 14, - 10, 0, and - 2 and percentage changes of 0.33%, - 1.00%, 0.09%, and - 0.82% respectively [1]. Domestic Spot Market - **Prices and Changes**: The current prices of domestic spot products such as Tianjin first - grade soybean oil, Guangzhou first - grade soybean oil, and Zhangjiagang 24° palm oil are 8260, 8310, and 9070 respectively, with percentage changes of - 0.36%, - 0.36%, and - 0.33%. For spot products like Nantong soybean meal, Dongguan soybean meal, and Nantong rapeseed meal, the current prices are 2870, 2890, and 2560 respectively, with percentage changes of 0.00%, 0.70%, and - 0.78% [1]. - **Basis and Spreads**: The current spot basis values for Tianjin first - grade soybean oil, Guangzhou first - grade soybean oil, and Zhangjiagang 24° palm oil are 140, 190, and 124 respectively. The current spot spreads such as the spread between Guangzhou first - grade soybean oil and 24° palm oil, and the spread between Zhangjiagang third - grade rapeseed oil and first - grade soybean oil are - 670 and 1350 respectively [1]. Import and Crushing Profits - The current import and crushing profits for near - month Malaysian palm oil, near - month US Gulf soybeans, and near - month Brazilian soybeans are - 437, - 271, and - 165 respectively, compared with previous values of - 526, - 249, and - 76 [1]. Warehouse Receipts - The current warehouse receipt values for soybean oil, palm oil, and rapeseed oil are 21,495, 0, and 3,487 respectively, remaining the same as the previous values [1]. Industry Information - As of the week ending July 24, 2025, the US soybean export inspection volume was 409,714 tons, compared with 377,020 tons (revised) in the previous week [2]. - As of the week ending July 27, 2025, the good - to - excellent rate of US soybeans was 70%, higher than the market expectation of 67%, and the good - to - excellent rate of US corn was 73%, in line with market expectations [2].

Report Summary 1. Report Industry Investment Rating No industry investment rating is provided in the report. 2. Core Views - **Methanol**: High imports are being realized, inventory accumulation has begun, and the futures price is undervalued. It is in a period of bearish factor realization. With unstable macro - environment and weak methanol prices in Europe and the US, the unilateral direction is hard to determine. Due to the low valuation, it is advisable to consider buying at low levels [2]. - **Polyethylene**: The inventory of Sinopec and PetroChina is neutral year - on - year. The overall inventory is neutral. The 09 basis is around - 150 in North China and - 100 in East China. Import profit is around - 100 with no further increase for now. Non - standard HD injection molding prices are stable, and LD is weakening. In August, maintenance will decrease month - on - month, and domestic linear production will increase. Attention should be paid to LL - HD conversion and new device commissioning [9]. - **Polypropylene**: The upstream inventory of Sinopec and PetroChina is increasing, while the middle - stream inventory is decreasing. The basis is - 60, non - standard price differences are neutral, and import profit is around - 800. Exports have been good this year. In June, supply is expected to increase slightly month - on - month. If exports continue to expand or PDH device maintenance increases, supply pressure can be alleviated [9]. - **PVC**: The basis is maintained at 09 - 150, and the factory - pickup basis is - 450. Downstream开工 is seasonally weakening, and the willingness to hold goods at low prices is strong. The inventory reduction of the middle and upstream has slowed down. Attention should be paid to commissioning and export sustainability from July to August. The current static inventory contradiction is accumulating slowly, and costs are stable [9]. 3. Summary by Product Methanol - **Price Data**: From July 22 to July 28, 2025, the price of power coal futures remained at 801. The price of Jiangsu spot decreased from 2412 to 2397, and the price of South China spot decreased from 2435 to 2400. The import profit increased from 82 to 86, and the main contract basis fluctuated [2]. Polyethylene - **Price Data**: From July 22 to July 28, 2025, the price of Northeast Asian ethylene remained at 820. The price of North China LL decreased from 7240 to 7180, and the main contract basis changed from - 100 to - 130. The two - oil inventory remained at 73, and the number of warehouse receipts remained at 5816 [9]. Polypropylene - **Price Data**: From July 22 to July 28, 2025, the price of Shandong propylene decreased from 6350 to 6170. The price of East China PP decreased from 7050 to 7065, and the main contract basis changed from - 40 to - 60. The two - oil inventory remained at 73, and the number of warehouse receipts increased from 12242 to 12695 [9]. PVC - **Price Data**: From July 22 to July 28, 2025, the price of Northwest calcium carbide decreased from 2250 to 2200. The price of Shandong caustic soda increased from 857 to 857. The price of calcium carbide - based PVC in East China decreased from 5030 to 5060, and the basis of high - end delivery products remained at - 80 [8][9].

涨跌都能赚 盈利就能离场！点击开通期货"T+0、双向交易"特权！>>> 部分商品主力合约持续反弹，焦煤跌幅缩窄至9%，此前一度跌超12%；玻璃跌幅缩窄至8%，此前一度 跌超10%；碳酸锂跌幅缩窄至5.8%，此前一度跌超8%；纯碱跌幅缩窄至4.6%，此前一度跌超7%。 ...

Core Viewpoint - The main contract for lithium carbonate has experienced a significant decline, dropping over 8.00% to a current price of 69,240 yuan per ton [1] Group 1 - The lithium carbonate market is currently facing volatility, with a notable decrease in prices [1] - The decline in lithium carbonate prices may present both opportunities and risks for investors in the commodities market [1]

Group 1 - The Shanghai International Energy Exchange's crude oil futures contract for September 2509 closed up by 2.06%, reaching 515.90 RMB per barrel [1] - The night trading session for Shanghai gold saw a decline of 0.31% [1] - Shanghai silver also experienced a decrease, closing down by 0.27% [1]

Core Viewpoint - The main contract for glass on the Zhengzhou Commodity Exchange has dropped over 7%, currently priced at 1190 yuan per ton [1] Group 1 - The glass futures market is experiencing significant volatility, with a notable decline in the main contract price [1] - The current price of 1190 yuan per ton indicates a substantial decrease, reflecting market trends and investor sentiment [1]

Report Industry Investment Rating No relevant information provided. Core Viewpoints - This week, the domestic coking coal and coke markets operated strongly. Affected by the pull - up of market sentiment and coal mine over - production inspections, coke enterprises successively raised prices twice this week, with a cumulative increase of 100 - 110 yuan/ton, and the third price increase was implemented on Friday, with the intention to continue raising prices next week. The online transactions continued to rise, and the offline transactions were in short supply. Traders were actively purchasing, and the market was still in an upward trend. Due to the large increase in coal prices, coking was in the red, and some coke enterprises with low inventories limited production. The downstream terminal demand was good, steel mill overhauls and production cuts were not obvious, and steel mill profits were good, with a high acceptance of raw material price increases in the short term. The Dalian Commodity Exchange adjusted the trading limit for coking coal futures. The coking coal trading volume during the night session increased rapidly, and after a brief rise at the opening, it fell sharply, along with a slump in related industrial product futures. This slump cooled the over - heated market, and market participants will gradually return to rationality. Further price increases require the introduction of more - than - expected macro - policies. Attention should be paid to the Politburo meeting at the end of the month and the progress of China - US trade negotiations. [2][4][35] Summary by Directory 1. This Week's Market Review - The domestic coking coal and coke markets operated strongly this week. Affected by the pull - up of market sentiment and coal mine over - production inspections, coke enterprises successively raised prices twice this week, with a cumulative increase of 100 - 110 yuan/ton, and the third price increase was implemented on Friday, with the intention to continue raising prices next week. [4] 2. Macro and Industrial News - The Chinese and US sides agreed that Vice - Premier He Lifeng will go to Sweden from July 27th to 30th to hold economic and trade talks with the US. - The National Development and Reform Commission and the State Administration for Market Regulation solicited public opinions on the "Draft Amendment to the Price Law of the People's Republic of China (for Comment)", aiming to improve the standards for identifying low - price dumping and regulate market price order. - The National Development and Reform Commission emphasized the importance of promoting large - scale equipment updates and consumer goods trade - ins. - From January to June, 16,500 old urban residential communities across the country started renovation, and 6 regions had a start - up rate of over 80%. The national plan for 2025 is to start renovating 25,000 old urban residential communities. - There were multiple price adjustment announcements for coke in different markets such as Xingtai, Shandong, and Tangshan this week. [6][7] 3. Fundamental Analysis - The online transactions continued to rise, and the offline transactions were in short supply. Traders were actively purchasing, and the market was still in an upward trend. Due to the large increase in coal prices, coking was in the red, and some coke enterprises with low inventories limited production. The downstream terminal demand was good, steel mill overhauls and production cuts were not obvious, and steel mill profits were good, with a high acceptance of raw material price increases in the short term. [2] 4. Market Outlook and Investment Strategies - The Dalian Commodity Exchange adjusted the trading limit for coking coal futures. The coking coal trading volume during the night session increased rapidly, and after a brief rise at the opening, it fell sharply, along with a slump in related industrial product futures. This slump cooled the over - heated market, and market participants will gradually return to rationality. Further price increases require the introduction of more - than - expected macro - policies. Attention should be paid to the Politburo meeting at the end of the month and the progress of China - US trade negotiations. - Investment strategies: For single - side trading, focus on range operations; for inter - period arbitrage, mainly adopt a wait - and - see approach; for coking profits, also mainly adopt a wait - and - see approach. [35]

Group 1 - The core point of the article highlights the significant drop in the main contract for polysilicon on the Guangxi Futures Exchange, which hit the limit down at 47,750 yuan per ton, reflecting a decline of 9.0% [1]

焦煤期货主力合约日内触及跌停 智通财经7月28日电，焦煤期货主力合约日内触及跌停，报1100.5元/吨，跌幅11%。此前连续四个交易日涨停。 ...