Group 1: Coal, Oil, and Natural Gas Production - In October, the production of raw coal in large-scale industries reached 410 million tons, a year-on-year decrease of 2.3%, with an average daily output of 13.12 million tons [2] - From January to October, the total raw coal production was 3.97 billion tons, reflecting a year-on-year increase of 1.5% [2] - The oil production in large-scale industries for the first ten months was 18.064 million tons, showing a year-on-year growth of 1.7% [4] - In October, the crude oil processing volume was 63.43 million tons, a year-on-year increase of 6.4%, with a daily average processing of 2.046 million tons [4] - The total crude oil processing from January to October was 614.24 million tons, up 4.0% year-on-year [4] - Natural gas production in October was 22.1 billion cubic meters, with a year-on-year growth of 5.9%, although the growth rate slowed by 3.5 percentage points compared to September [8] - From January to October, the total natural gas production was 217 billion cubic meters, reflecting a year-on-year increase of 6.3% [8] Group 2: Electricity Production - In October, the electricity generation in large-scale industries reached 800.2 billion kilowatt-hours, a year-on-year increase of 7.9%, accelerating by 6.4 percentage points compared to September [10] - The average daily electricity generation was 25.81 billion kilowatt-hours [10] - From January to October, the total electricity generation was 8.0625 trillion kilowatt-hours, showing a year-on-year growth of 2.3% [10] - By type, in October, thermal power generation increased by 7.3% year-on-year, reversing a decline of 5.4% in September; hydropower generation grew by 28.2%, but the growth rate slowed by 3.7 percentage points; nuclear power generation increased by 4.2%, accelerating by 2.6 percentage points; wind power generation saw a decline of 11.9%, with the decline rate expanding by 4.3 percentage points; solar power generation increased by 5.9%, but the growth rate slowed by 15.2 percentage points [10]

Group 1 - The Federal Reserve's latest Beige Book report indicates price increases related to tariffs across all Federal Reserve districts from mid-July to the end of August [1] - The Dow Jones Industrial Average fell by 0.05%, while the S&P 500 rose by 0.51% and the Nasdaq increased by 1.02% at market close [1] Group 2 - Recent data shows that U.S. job vacancies in July were below expectations, suggesting a slowdown in hiring, which reinforces market expectations for a Federal Reserve rate cut in September [3] - International gold prices rose over 1%, reaching a record closing high, with December gold futures closing at $3,635.5 per ounce, up 1.21% [3] Group 3 - In Europe, a surge in investment-grade bond issuances has led to rising yields and falling prices for corporate and government bonds, prompting some funds to shift towards equities for profit [5] - The three major European stock indices collectively rose, with the UK market up 0.67%, France up 0.86%, and Germany up 0.46% at market close [5][6] Group 4 - Market sources indicate that OPEC+ is planning to announce an increase in production capacity starting in October during an upcoming oil policy meeting, which may exacerbate the global oversupply of crude oil [8] - OPEC+ has increased daily oil production capacity by a total of 2.2 million barrels from April to September this year to capture market share [8] - International oil prices fell significantly, with light crude oil futures for October closing at $63.97 per barrel, down 2.47%, and November Brent crude futures at $67.60 per barrel, down 2.23% [8]

1. Report Industry Investment Rating No relevant content provided. 2. Core Views of the Report - Overseas, the weakening of US high - frequency employment data and the intensification of the Middle - East geopolitical situation have increased market risk - aversion and expectations of interest rate cuts. Domestically, the A - share market is in a sideways shock, and attention should be paid to the release of May financial and economic data [2][3]. - Precious metals are boosted by factors such as the decline in US inflation and geopolitical risks. Gold is expected to maintain a high - volatility trend, while silver may have short - term profit - taking pressure but its catch - up rally is still worth expecting [4][5]. - The copper price is expected to fall from a high and enter an adjustment phase due to trade policy disturbances, although supply - side tightness can support the medium - term price [6][7]. - The aluminum price is in a favorable pattern due to factors such as the slowdown of inflation, the decline of inventory to a low level, and the weakening of the US dollar index [8][9]. - The alumina price is in a short - term stalemate and shows an oscillating trend. Attention should be paid to the realization of supply increments and cost support [10][11]. - The zinc price is in a weak operation, with the decline trend slowed down due to inventory reduction, but the fundamental weak pattern remains unchanged [12]. - The lead price is oscillating strongly in the short term, with support from supply restrictions and pressure from inventory accumulation and weak consumption [13]. - The tin price is expected to maintain an oscillating and convergent trend, and attention should be paid to inventory data [14]. - The industrial silicon price is expected to continue its low - level weak oscillation as the industry enters the off - season and social inventory rises slightly [15][16]. - The lithium carbonate price may reach a new low in the near future, but the movement of in - market funds needs to be observed [17][18]. - The nickel price is oscillating at a low level, with no significant new drivers in the short term [19][20]. - The oil price is oscillating, and if the sixth round of US - Iran talks releases a mild signal, the oil price may fall from a high [21]. - The steel price is expected to oscillate weakly due to the weak supply - demand situation [22]. - The iron ore price is expected to be under pressure as the spot market is weak and port inventory increases [23][24]. - The soybean meal and rapeseed meal prices may oscillate strongly in the short term, but attention should be paid to stage adjustments [25][26]. - The palm oil price may oscillate in the short term, supported by factors such as the increase in India's import volume [27][28]. 3. Summary According to Relevant Catalogs 3.1 Metal Main Variety Trading Data - The closing prices, price changes, price change percentages, trading volumes, and open interests of various metal futures contracts such as copper, aluminum, zinc, etc. are presented, including both domestic (SHFE) and international (LME) markets [29]. 3.2 Industrial Data Perspective - For copper, data such as the closing prices of SHFE and LME copper, warehouse receipts, inventory, spot quotes, and price spreads are provided and compared between June 12 and June 11 [30]. - Similar data for nickel, zinc, lead, aluminum, alumina, tin, precious metals, steel, iron ore, coke, coking coal, lithium carbonate, industrial silicon, and soybean and rapeseed meal are also presented and compared for different time points [30][31][32][33][34][35][36][37].