作为我国北方国际航运核心区和金融创新运营示范区，天津持续推动自贸试验区制度创新与口岸功能提升。东疆 发挥"自贸区+综保区+港口"多重功能政策叠加优势，已先后获批线型低密度聚乙烯、纸浆等期货品种的指定交割 仓库，推出多项贸易便利化举措，为获批成为我市首个20号胶期货保税交割资质区域奠定基础，此次业务顺利落 地，也是东疆产业环境完善和服务体系便利的有力体现。伴随京津冀协同发展深化及制造业升级，橡胶等大宗原 材料的稳定供应尤为重要，此次20号胶期货交割业务的开展，正契合了这一趋势，未来有望吸引更多产业链上下 游企业在天津东疆布局。 未来，东疆将继续深化期货交割品类拓展与服务模式创新，推动更多大宗商品保税交割项目落地。延伸20号胶上 下游产业链，促进汽车轮胎等中间品贸易发展，进一步增强我市港口在国际贸易网络中的资源配置能力。用好综 保区政策和口岸仓储物流载体功能，进一步丰富期货保税交割等"保税+"业态，构建联通国内外两个市场和资源的 平台，为港产城融合发展示范样板区建设提供助力。（津云新闻记者霍艳华 通讯员黄贝宁） 天津北方网讯：近日，由印度尼西亚起运发往天津口岸的第一批1200吨20号胶抵港并存入天津东疆综合保税区 ...

Group 1: Report Information - The report is a fixed - income report released on June 9, 2025 [1] - Analysts are Liang Weichao (SAC registration number: S1340523070001) and Cui Chao (SAC registration number: S1340523120001) [2] Group 2: Core Viewpoints - High - frequency economic data focuses on four aspects: production is stable with a slight decline, real estate shows continuous marginal improvement, prices have a marginal recovery, and shipping indices continue to rise significantly. Short - term attention should be paid to the implementation of new growth - stabilizing stimulus policies, the recovery of the real estate market, and changes in US tariff policies [2][31] Group 3: Production - In the week of June 6, the capacity utilization rate of coke ovens decreased by 0.15 pct, the blast furnace operating rate decreased by 0.31 pct, and the output of rebar decreased by 7.05 tons. The operating rate of petroleum asphalt increased by 3.6 pct, the PX operating rate increased by 4.91 pct, and the PTA operating rate increased by 6.1 pct. The operating rate of all - steel tires decreased by 1.33 pct, and the operating rate of semi - steel tires decreased by 4.39 pct [3][10][11] Group 4: Demand - In the week of June 1, the real estate market continued to improve, with the transaction area of commercial housing rising and the inventory - to - sales ratio falling. The land transaction area increased, and the premium rate of residential land transactions decreased. The movie box office increased by 235 million yuan compared with the previous week. In the week of May 31, the daily average retail sales of automobile manufacturers increased by 34,500 vehicles, and the daily average wholesale sales increased by 80,700 vehicles. In the week of June 6, the shipping index SCFI rose 8.09%, CCFI rose 3.34%, and BDI rose 15.16% [3][14][20] Group 5: Prices - In the week of June 6, Brent crude oil prices rose 4.02% to $66.47 per barrel, coking coal futures prices rose 5.06% to 779 yuan per ton. The LME copper, aluminum, and zinc futures prices changed by +1.83%, +0.12%, and +1.25% respectively, and the domestic rebar futures prices rose 0.64%. The overall price of agricultural products decreased, with the prices of pork, eggs, vegetables, and fruits changing by - 0.97%, - 2.96%, +0.46%, and - 0.64% respectively compared with the previous week [3][22][24] Group 6: Logistics - In the week of June 7, the subway passenger volume in Beijing and Shanghai decreased, and the peak congestion index in first - tier cities continued to decline. In the week of May 28, the number of domestic and international flights decreased [4][27][29]

Report Summary 1. Report Industry Investment Rating The provided content does not mention the report industry investment rating. 2. Core Viewpoints of the Report - High - frequency economic data focuses on four aspects: production heat improved overall with some开工率 rising and others falling; real estate improved marginally; prices continued to decline; shipping indices rose significantly. - Short - term attention should be paid to the implementation of new stable - growth stimulus policies, the recovery of the real estate market, and changes in US tariff policies [2][34]. 3. Summaries According to Relevant Catalogs Production - Steel: On the week of May 30, the coke oven capacity utilization rate decreased by 0.1 pct, the blast furnace开工率 increased by 0.18 pct, and the rebar production decreased by 5.97 tons [3][11]. - Petroleum asphalt: The开工率 decreased by 3.1 pct and declined for two consecutive weeks [3][11]. - Chemicals: The PX开工率 increased by 5.33 pct, and the PTA开工率 decreased by 0.58 pct [3][11]. - Automobile tires: The all - steel tire开工率 decreased by 0.16 pct, and the semi - steel tire开工率 increased by 0.03 pct [3][12]. Demand - Real estate: On the week of May 25, the commercial housing transaction area increased, the inventory - to - sales ratio decreased, the land transaction area increased, and the residential land transaction premium rate rose [4][15]. - Movie box office: It increased by 0.35 billion yuan on the week of May 25 [4][15]. - Automobiles: On the week of May 25, the daily average retail sales of manufacturers increased by 9,648 vehicles, and the daily average wholesale sales increased by 19,637 vehicles [4][18]. - Shipping indices: On the week of May 30, SCFI rose by 30.68%, CCFI rose by 0.92%, and BDI rose by 5.82% [4][22]. Prices - Energy: On May 30, Brent crude oil prices fell by 1.36% to $63.9 per barrel, and coking coal futures prices fell by 9.07% to 741.5 yuan per ton [5][24]. - Metals: On May 30, LME copper, aluminum, and zinc futures prices changed by - 1.22%, - 0.71%, and - 3.06% respectively, and domestic rebar futures prices fell by 3.01% [5][25]. - Agricultural products: The overall price stabilized, with the wholesale price index of agricultural products rising by 0.04%. Pork, eggs, vegetables, and fruits prices changed by - 1.38%, - 1.64%, + 1.41%, and - 0.38% respectively compared with the previous week [5][27]. Logistics - Subway passenger volume: On May 30, the seven - day moving average of Beijing subway passenger volume decreased by 20,800 person - times, while that of Shanghai increased by 128,600 person - times [6][30]. - Flight volume: On May 28, domestic (excluding Hong Kong, Macao, and Taiwan), domestic (Hong Kong, Macao, and Taiwan), and international flight volumes decreased [6][31]. - Urban traffic: On May 30, the seven - day moving average of the peak congestion index in first - tier cities decreased [6][31].