Market Overview - The Shanghai Composite Index rose by 0.41% as of 10:28 AM, with a trading volume of 529.43 million shares and a transaction value of 748.197 billion yuan, an increase of 3.12% compared to the previous trading day [1]. Industry Performance - The top-performing sectors included: - Comprehensive: +1.55% with a transaction value of 12.33 billion yuan, led by Dongyangguang (+3.39%) [1]. - Steel: +1.40% with a transaction value of 77.70 billion yuan, led by Maanshan Iron & Steel (+10.09%) [1]. - Real Estate: +1.22% with a transaction value of 82.89 billion yuan, led by Shanghai Shenda (+10.06%) [1]. - The sectors with the largest declines included: - Pharmaceutical Biology: -0.53% with a transaction value of 874.61 million yuan, led by Nanjing New Pharmaceutical (-9.28%) [2]. - Computer: -0.51% with a transaction value of 616.52 million yuan, led by Dahan Technology (-7.95%) [2]. - Building Materials: -0.18% with a transaction value of 82.91 million yuan, led by Honghe Technology (-6.57%) [2]. Summary of Trading Data - The overall market saw 3,084 stocks rise, with 34 hitting the daily limit up, while 2,060 stocks fell [1]. - The transaction values for various sectors showed significant fluctuations, with Comprehensive and Real Estate sectors experiencing notable increases in transaction values compared to the previous day [1].

Group 1: Steel Industry - In July, the PMI for new export orders was reported at 47.10% [4] - The BCI for small and medium enterprises financing environment index in July 2025 was 46.09, a month-on-month decrease of 6.16% [4] - The M1 and M2 growth rate difference in June 2025 was -3.7 percentage points, with a month-on-month increase of 1.9 percentage points [4] Group 2: Non-ferrous Metals - In July, the operating rate of cable enterprises reached a six-year low compared to the same period last year [4] - The copper price is expected to fluctuate in the short term due to lower domestic cable operating rates and a decrease in air conditioning production from August to October [4] - However, tight supply from mines and scrap copper, along with a rebound in demand for power grids and air conditioning in Q4, may lead to an increase in copper prices [4] Group 3: Renewable Energy and Environmental Protection - The political bureau meeting emphasized the importance of promoting a unified national market and optimizing market competition [4] - The "anti-involution" policy is expected to continue, impacting the stock prices of photovoltaic-related companies [4] - Key areas to watch include price-sensitive segments such as silicon materials, glass, and BC batteries [4] Group 4: Pharmaceutical and Biotechnology - The public health emergency response level III was activated in Foshan due to the outbreak of Chikungunya fever, with over 6,000 confirmed cases reported by July 31 [5] Group 5: Company-Specific Developments - New An Co., Ltd. has established a new subsidiary focused on synthetic materials, indicating a strengthened global development strategy [6] - China Shenhua announced plans to acquire assets from the State Energy Group, including coal and related energy assets [6] - TAL Education Group reported a revenue of $575 million for FY26Q1, a year-on-year increase of 38.8%, with net profit significantly exceeding expectations [6]

7月A股行情收官，上证指数、深证成指、创业板指分别累计上涨3.74%、5.2%、8.14%。7月涨幅最大的 行业是钢铁行业，上涨16.76%；最牛股票是本月出现11次"20CM"涨停的上纬新材，累计涨逾1080%。 数据显示，截至7月31日，A股总市值为104.48万亿元，单月增加4.43万亿元。资金层面，数据显示，截 至7月30日，A股市场融资余额报19705.95亿元，创逾十年新高，7月以来净买入1324.46亿元。 ...

Report Summary 1. Investment Rating No investment rating for the industry is provided in the report. 2. Core View On Monday, the RB2510 contract rebounded after hitting a low. The central bank plans to implement a moderately loose monetary policy, reducing the reserve - requirement ratio and using various monetary policy tools flexibly to maintain ample liquidity. The weekly output of rebar decreased slightly this period, with a low capacity utilization rate of 46.27%. Terminal demand was weak, apparent demand declined, and inventory increased. The market may fluctuate widely in a range, and technically, the 1 - hour MACD indicator of the RB2510 contract shows DIFF and DEA running below the 0 axis. It is recommended to conduct short - term trading and pay attention to rhythm and risk control [2]. 3. Summary by Directory 3.1 Futures Market - RB main contract closing price: 3,204.00 yuan/ton, up 1 yuan; RB main contract position: 1,742,635 lots, down 18,068 lots; RB contract top 20 net position: - 97,529 lots, down 12,574 lots; RB10 - 1 contract spread: - 67 yuan/ton, down 13 yuan; RB SHFE warehouse receipt: 82,640 tons, down 2,394 tons; HC2510 - RB2510 contract spread: 213 yuan/ton, up 15 yuan [2]. 3.2 Spot Market - Hangzhou HRB400E 20MM (theoretical weight): 3,370.00 yuan/ton, down 10 yuan; Hangzhou HRB400E 20MM (actual weight): 3,456 yuan/ton, down 10 yuan; Guangzhou HRB400E 20MM (theoretical weight): 3,400.00 yuan/ton, down 20 yuan; Tianjin HRB400E 20MM (theoretical weight): 3,280.00 yuan/ton, down 20 yuan; RB main contract basis: 166.00 yuan/ton, down 11 yuan; Hangzhou hot - rolled coil - rebar spot spread: 100.00 yuan/ton, up 20 yuan [2]. 3.3 Upstream Situation - Qingdao Port 61.5% PB iron ore fines: 768.00 yuan/wet ton, down 2 yuan; Hebei quasi - first - grade metallurgical coke: 1,365.00 yuan/ton, unchanged; Tangshan 6 - 8mm scrap steel: 2,270.00 yuan/ton, unchanged; Hebei Q235 billet: 3,050.00 yuan/ton, down 10 yuan; 45 - port iron ore inventory: 136.579 million tons, down 1.3248 million tons; Sample coke - plant coke inventory: 462,800 tons, down 35,200 tons; Sample steel - mill coke inventory: 6.2678 million tons, down 132,200 tons; Tangshan billet inventory: 1.1102 million tons, up 41,000 tons; 247 steel - mill blast furnace operating rate: 83.48%, unchanged; 247 steel - mill blast furnace capacity utilization: 90.22%, down 0.56% [2]. 3.4 Industry Situation - Sample steel - mill rebar output: 2.1106 million tons, down 9,000 tons; Sample steel - mill rebar capacity utilization: 46.27%, down 0.20%; Sample steel - mill rebar inventory: 1.6215 million tons, down 35,200 tons; 35 - city rebar social inventory: 3.8414 million tons, up 111,700 tons; Independent electric - arc furnace steel - mill operating rate: 69.79%, up 1.04%; Domestic crude steel output: 83.18 million tons, down 3.36 million tons; Chinese rebar monthly output: 1.688 million tons, up 30,000 tons; Net steel export volume: 921,000 tons, down 89,000 tons [2]. 3.5 Downstream Situation - National Real Estate Climate Index: 93.60, down 0.11; Cumulative year - on - year growth rate of fixed - asset investment: 2.80%, down 0.90%; Cumulative year - on - year growth rate of real - estate development investment: - 11.20%, down 0.50%; Cumulative year - on - year growth rate of infrastructure investment: 4.60%, down 1.00%; Cumulative floor area under construction: 6.33321 billion square meters, down 83.02 million square meters; Cumulative new construction area: 303.64 million square meters, down 71.81 million square meters; Commercial housing unsold area: 408.21 million square meters, up 4.43 million square meters [2]. 4. Industry News - US Trade Representative Jamieson Greer said that the new round of tariffs imposed by US President Trump on multiple countries last week is "basically finalized" and will not be adjusted in current negotiations. - The US added 73,000 non - farm jobs in July, lower than the estimated 104,000 and the previous value of 147,000, the lowest in 9 months. After the release of the non - farm data, President Trump criticized Powell again and called for an interest - rate cut [2].

Group 1 - The core viewpoint of the article is that the strategic collaboration between Ma Steel and Baosteel will not affect the existing business relationship between Baosteel and Changjiang Steel [2] - Baosteel's recent investment in Ma Steel is primarily focused on strategic synergy with Ma Steel [2] - Changjiang Steel mainly procures iron ore through the Baowu platform, utilizing the SOTC platform for imported ore and sourcing domestic ore from Ma Steel Group's subsidiaries [2]

2024年1至12月份，华菱钢铁的营业收入构成为：钢铁行业占比75.88%，贸易占比16.17%，材料让售占 比4.97%，其他占比2.58%，其他业务占比0.4%。 每经头条（nbdtoutiao）——"我们也深陷残酷价格战"！德资巨头中国区高管警告：智驾绝不能免费， 否则会给全行业带来灾难 （记者 王晓波） 每经AI快讯，华菱钢铁（SZ 000932，最新价：5.6元）8月1日晚间发布公告称，截至2025年7月31日， 公司累计通过回购专用证券账户以集中竞价交易方式回购股份数量约为4206万股，占公司总股本 6908632499的0.6088%，其中最高成交价为5.27元/股，最低成交价为4.41元/股，成交总金额约为2.01亿 元。 ...

Group 1 - Turkey has strengthened its engagement in Africa since 2003 through various channels, including establishing diplomatic missions and signing security cooperation agreements [1] - In the first half of 2025, Turkey's exports to African countries reached approximately $10 billion, with Morocco being the largest export destination at $1.8 billion [1] - The sector distribution of Turkey's exports to Africa in the first half of 2025 shows that the chemical industry led with $1.3 billion, followed by grains, legumes, oilseeds, and derivatives at $1.2 billion [1] Group 2 - Since the introduction of the "Africa Policy" in 2023, Turkey has enhanced its participation in the continent, with bilateral trade increasing from $3 billion in 2003 to nearly $41 billion in 2022 [2] - As of mid-November 2024, Turkish companies have completed 1,977 infrastructure projects in Africa, with a total value of $91.6 billion [2]

2025 年 8 月 1 日 螺纹钢：市场情绪降温，偏弱震荡 热轧卷板：市场情绪降温，偏弱震荡 李亚飞 投资咨询从业资格号：Z0021184 liyafei2@gtht.com 金园园（联系人） 期货从业资格号：F03134630 jinyuanyuan2@gtht.com 【基本面跟踪】 螺纹钢、热轧卷板基本面数据 | | | （元/吨） 昨日收盘价 | 涨跌 （元/吨） | 涨跌幅 （%） | | --- | --- | --- | --- | --- | | | RB2510 | 3,205 | -140 | -4.19 | | 期 货 | HC2510 | 3,390 | -125 | -3.56 | | | | 昨日成交 （手） | 昨日持仓 （手） | 持仓变动 （手） | | | RB2510 | 2,730,966 | 1,816,026 | -213,107 | | | HC2510 | 1,070,244 （元/吨） 昨日价格 | 1,433,936 （元/吨） 前日价格 | -139,278 （元/吨） 涨跌 | | | 上海 | 3370 | 3440 | -70 | | | 杭州 螺 ...

Group 1 - The stock price of Yongjin Co., Ltd. is reported at 17.85 yuan as of July 31, 2025, reflecting a decline of 1.87% from the previous trading day [1] - The opening price for the day was 18.15 yuan, with a lowest point of 17.73 yuan, and the trading volume reached 120 million yuan [1] - The company specializes in the research, production, and sales of cold-rolled stainless steel strips, which are widely used in appliances, architectural decoration, and medical devices [1] Group 2 - As of July 18, 2025, the number of shareholders for Yongjin Co., Ltd. was reported at 21,700, a decrease of 827 shareholders or 3.68% from July 10 [1] - The number of shares held through the Shanghai Stock Connect is 12.4842 million, accounting for 3.41% of the circulating share capital [1] - On July 31, 2025, there was a net outflow of 2.29 million yuan in principal funds [1]

Summary of Key Points Agreements Reached - The UK has reduced the baseline tariff from 25% to 10%, with exemptions for automotive and aerospace products, while negotiations continue on steel, aluminum, and digital services tax [1] - Vietnam has lowered the baseline tariff from 46% to 20%, with a 40% punitive tariff on goods transshipped to the US, and has committed to zero tariffs on all US goods [1] - Indonesia has decreased tariffs from 32% to 19%, eliminating tariffs on 99% of US goods and addressing non-tariff barriers [1] - The Philippines has reduced tariffs from 20% to 19%, with commitments to open markets and zero tariffs, alongside enhanced military cooperation [1] - Japan has lowered the baseline tariff from 25% to 15%, becoming the first major economy to secure lower tariffs for the automotive sector, and has pledged $550 billion in investments in the US [1] Additional Agreements - The EU has reduced the baseline tariff from 30% to 15%, covering various products while exempting certain items, and has committed to $600 billion in investments and $750 billion in energy product purchases from the US [2] - South Korea has lowered the baseline tariff from 25% to 15%, with commitments of $350 billion in investments and $100 billion in energy purchases from the US, while maintaining original rates on semiconductors and steel [2] Agreements Not Reached - Canada faces a potential 35% tariff if no agreement is reached by August 1, with ongoing negotiations described as "intense" [3] - Mexico is at risk of a 30% tariff, with discussions between the US and Mexican presidents planned as the deadline approaches [3] - India is facing a 25% tariff starting August 1, with additional unspecified penalties, while seeking a reciprocal agreement with the US [3] - Australia currently has a 10% baseline tariff, which may rise to 15%-20%, with no recent updates on negotiations [3] - Brazil is set to face a 50% tariff starting August 6, with certain products exempted, while the Brazilian president expresses willingness for constructive dialogue [3]