金十数据7月3日讯，近日公布的6月财新中国制造业采购经理人指数（PMI）录得50.4，高于上月2.1个 百分点，与4月持平；财新中国服务业PMI下降0.5个百分点至50.6，为2024年四季度以来最低。制造业 景气回升幅度明显高于服务业下降幅度，带动6月财新中国综合PMI上升1.7个百分点，录得51.3，重回 扩张区间。6月供求重现扩张，就业继续下降，企业成本相对稳定，但销售价格持续下降，企业信心回 落；下半年经济下行压力或加大，关注前期增量政策的落地情况以及政策加码的可能性。 （财新） 经济景气重回扩张 企业盈利压力仍大 ...

Group 1: Report Information - Report date: May 07, 2025 [2] - Research team: Energy and Chemical Research Team [3] - Researchers: Li Jie, CFA (Crude Oil and Fuel Oil); Ren Junchi (PTA/MEG); Peng Haozhou (Industrial Silicon/Polycrystalline Silicon); Peng Jinglin (Polyolefins); Liu Youran (Pulp) [3] Group 2: Market Performance and Outlook Market Performance - Industrial silicon futures: The main contract Si2506 closed at 8,325 yuan/ton, down 2.57%. Trading volume was 269,472 lots, and open interest was 179,536 lots, a net increase of 13,001 lots [4] - Spot prices: Sichuan 553 grade was 9,100 yuan/ton, Yunnan 553 grade was 9,150 yuan/ton; Sichuan 421 was 10,350 yuan/ton, Yunnan 421 was 9,600 yuan/ton, Inner Mongolia 421 was 9,600 yuan/ton, and Xinjiang 421 was 9,800 yuan/ton [4] Outlook - Spot prices are still falling rapidly, and there are no significant signs of improvement in the fundamentals. Weekly production is 73,100 tons, and there is no expectation of production cuts in May. Demand from polysilicon is 108,000 tons, and silicone enterprises are cutting production to support prices. Other demand is stable, and the oversupply situation persists. Inventories are increasing. The loss has not had a significant negative impact on the supply side, and the fundamental drivers are weak. The market is expected to continue to fluctuate weakly, and attention should be paid to the potential pressure of increased production during the wet season [4] Group 3: Market News - On May 06, the number of futures warehouse receipts on the Guangzhou Futures Exchange was 68,930 lots, a net decrease of 306 lots from the previous trading day [5] - The Caixin China Manufacturing Purchasing Managers' Index (PMI) in April was 50.4, down 0.8 percentage points from the previous month, the lowest in three months; the Caixin China Services PMI also dropped 1.2 percentage points to 50.7, the lowest since Q4 2024 [5]