Group 1 - The National Development and Reform Commission (NDRC) will accelerate the governance of disorderly competition and market disorder in certain sectors [1]

Core Points - The National Development and Reform Commission (NDRC) is focusing on key areas and tasks in the second half of the year to accelerate the construction of a unified national market and address disorderly competition in certain sectors [1][3] Group 1 - The NDRC plans to develop an action plan to deepen the construction of a unified national market [3] - The NDRC will strengthen the reporting of typical cases that hinder the construction of a unified national market [3] - The NDRC aims to continue the cleanup of market access barriers and standardize government behavior [3] Group 2 - The NDRC will expedite the revision of the pricing law and introduce rules for pricing behavior on internet platforms [3] - The NDRC will collaborate with relevant departments to legally address issues such as below-cost dumping and exaggerated or false advertising [3] - The NDRC is committed to tackling disorderly competition in specific sectors [3]

Core Viewpoint - The National Development and Reform Commission (NDRC) is focused on accelerating the construction of a unified national market in the second half of the year, with specific actions planned to address market barriers and enhance regulatory measures [1] Group 1: Key Actions and Plans - The NDRC will develop an action plan to further promote the construction of a unified national market [1] - There will be a focus on reporting typical cases that hinder the construction of a unified national market [1] - Continuous efforts will be made to clean up and rectify market access barriers [1] Group 2: Regulatory Measures - The NDRC aims to unify government behavior standards and further regulate local investment attraction practices [1] - The revision of the pricing law will be expedited, along with the introduction of rules governing pricing behavior on internet platforms [1] - Collaborative efforts with relevant departments will be made to legally address issues such as below-cost dumping and exaggerated or false advertising [1] Group 3: Market Competition - The NDRC will accelerate the governance of disorderly competition in certain sectors [1]

Core Insights - The National Development and Reform Commission (NDRC) is focusing on key areas and tasks in the second half of the year to accelerate the construction of a unified national market [1] - An action plan will be developed to further promote the construction of a unified national market, emphasizing the need to address typical cases that hinder this process [1] - The NDRC aims to continue the cleanup of market access barriers and standardize government behavior, particularly in local investment promotion [1] Summary by Categories - **Market Construction** - The NDRC will accelerate the establishment of a unified national market and develop an action plan for its advancement [1] - There will be a focus on typical cases that obstruct the construction of this market [1] - **Regulatory Actions** - The NDRC plans to continue the cleanup of market access barriers and unify government behavior standards [1] - There will be a revision of the pricing law and the introduction of rules governing pricing behavior on internet platforms [1] - **Competition and Compliance** - The NDRC will work with relevant departments to legally address issues such as below-cost dumping, exaggerated and false advertising, and disordered competition in certain sectors [1]

1. Report Industry Investment Rating No relevant content provided. 2. Core Views of the Report - The market is somewhat cautious, and the black - related products are oscillating weakly. Steel prices are affected by factors such as the off - season consumption, production changes, and market sentiment. Iron ore prices are influenced by global shipments and iron - water production. Double - coking products are in a state of multi - empty game, and power coal prices are affected by supply, demand, and market sentiment [1][3][6][8] 3. Summary by Related Categories Steel - **Market Analysis**: Yesterday, the futures prices of rebar and hot - rolled coils were 3061 yuan/ton and 3191 yuan/ton respectively. The national urban inventory of building materials was 375.07 million tons, a 1.29% month - on - month increase, and the hot - rolled coil inventory was 174.22 million tons, a 1.87% month - on - month increase. The national building materials transaction volume was 96,000 tons. Building materials are in the off - season, with a slight increase in production and low inventory. Plate production has a slight month - on - month increase, and the current export remains high. The market lacks speculative demand, and the weak off - season demand will suppress steel prices [1] - **Strategy**: Unilateral trading is expected to be oscillating, while there are no strategies for inter - period, inter - variety, spot - futures, and options trading [2] Iron Ore - **Market Analysis**: Yesterday, the futures price of iron ore weakened slightly, with the main 2509 contract closing at 731 yuan/ton, a 0.68% decline. The prices of mainstream imported iron ore varieties at Tangshan Port remained stable. The global iron ore shipments decreased significantly this period, with a total of 29.95 million tons. The daily transaction volume of national main ports decreased by 8.14% month - on - month, and the forward spot transaction volume decreased by 13.13% month - on - month. In the short term, the iron ore price has rebounded, and the basis discount has been significantly repaired. In the long term, the supply - demand pattern is relatively loose [3] - **Strategy**: Unilateral trading is expected to be oscillating, while there are no strategies for inter - period, inter - variety, spot - futures, and options trading [4] Double - Coking Products - **Market Analysis**: Yesterday, the futures of double - coking products oscillated. The spot market of port coke was stable, and the domestic market sentiment improved. The inventory of the two ports increased slightly. The price of coking coal in the main production areas oscillated weakly. The expectation of domestic coal mine resumption is increasing, and the supply is expected to increase. The iron - water production of steel mills is at a high level but shows a downward trend. The supply - demand of coking coal has improved slightly. The profit of coke enterprises is not good, but the downstream steel demand has improved. In the short term, the supply - demand of coke has improved slightly, and in the long term, it is still in a relatively loose pattern [6] - **Strategy**: Both coking coal and coke are expected to oscillate in unilateral trading, while there are no strategies for inter - period, inter - variety, spot - futures, and options trading [7] Steam Coal - **Market Analysis**: The price of steam coal in the main production areas oscillated weakly. The procurement of chemical and platform large customers is stable, and some coal mines have balanced production and sales. The supply has basically recovered at the beginning of the month, and the market sentiment has cooled down. The upstream shipping cost at the port has increased, and there is a structural shortage of goods. The downstream rigid demand procurement has been completed in stages, and the coal consumption is expected to increase with the expansion of high - temperature areas. The high - calorie Australian coal has a price inversion with the domestic winning bid price, and the low - calorie Indonesian coal has obvious cost - performance advantages [8] - **Strategy**: No strategy is provided [8]