Report Industry Investment Ratings - The report suggests a volatile and bearish outlook for coking coal and palm oil futures [4][21] Core Viewpoints - On September 1st, the coking coal futures market saw significant declines in the main contract, with a drop of over 5%, and other black - series futures also weakened. This was due to multiple factors including supply, demand, policy, and cost [3] - The A - share market is expected to continue high - level volatility in the short term [7] - Gold shows signs of breaking through the platform in the short term due to favorable factors [11][12] - Iron ore prices are under pressure as the pattern of strong raw materials and weak finished products persists, and there is a risk of negative feedback [14][15] - Glass prices are tested as the factory inventory accumulates and downstream demand is insufficient [18][19] - Palm oil market has a reduced motivation for further price increases and higher profit - taking pressure [21] - Pulp prices are expected to remain in low - level volatility before the Mid - Autumn Festival peak season [25] Summary by Related Catalogs Coking Coal Futures - Supply: The safety inspection in the main production areas has been relaxed, coal mines have resumed production, and the weekly output has increased by about 4%. The arrival of imported coking coal at ports has also increased supply pressure [3] - Demand: Downstream coking plants have reduced their enthusiasm for replenishing coking coal due to slow steel mill procurement. Steel mill profits have limited recovery, and iron - water production is at a medium - low level, suppressing coking coal demand [3] - Inventory and Policy: Port inventory has increased by 140% year - on - year. The pre - 9.3 military parade production limit expectation is lower than before, and potential relaxation of over - production verification policies may increase supply [4] A - share Market - On Monday, the three major A - share indexes opened higher, then fell, and finally rebounded. The Shenzhen Component Index and the ChiNext Index closed slightly up. The market is expected to continue high - level volatility in the short term [7] Gold - The US July PCE price data met expectations, increasing the probability of a September interest rate cut, which is favorable for gold. The weekly adjustment is relatively sufficient, and there are signs of upward movement in the short term [11][12] Iron Ore - Technically, the price dropped significantly, testing the lower support. The iron - water production is still high, but the pattern of strong raw materials and weak finished products persists, and there is a risk of negative feedback [14][15] Glass - Technically, the price dropped significantly, testing the lower support. The daily melting volume is stable, the factory inventory is accumulating, and downstream deep - processing orders are not strong enough. Attention should be paid to the inventory replenishment situation approaching the peak season [18][19] Palm Oil - The oil market has seen large cumulative increases recently. With rising inventory pressure and lack of demand support, the motivation for further price increases has decreased, and profit - taking pressure has increased [21] Pulp - Inventory is a major constraint, downstream demand has not improved, and procurement is average. The price of coniferous pulp in Shandong has been lowered, and it is expected to remain in low - level volatility before the Mid - Autumn Festival peak season [25]