2月28日，国家统计局发布《中华人民共和国2025年国民经济和社会发展统计公报》。 2025年规模以上工业中，农副食品加工业增加值比上年增长5.6%，纺织业增长3.0%，化学原料和化学制品制造业增长 7.8%，非金属矿物制品业下降0.6%，黑色金属冶炼和压延加工业增长4.5%，通用设备制造业增长8.0%，专用设备制造 业增长4.3%，汽车制造业增长11.5%，电气机械和器材制造业增长9.2%，计算机、通信和其他电子设备制造业增长 10.6%，电力、热力生产和供应业增长2.2%。 | 产品名称 | 单位 | 产量 | 比上年增长(%) | | --- | --- | --- | --- | | 彩 | 万吨 | 2215.8 | -0.1 | | ff | 亿米 | 306.7 | 0.2 | | 化学纤维 | 万吨 | 8701.1 | 4 d | | 成品糖 | 万吨 | 1621.0 | 9.0 | | 卷烟 | 亿专 | 24703.9 | 0.2 | | 彩色电视机 | 万台 | 20273.9 | -2.6 | | 家用电冰箱 | 万台 | 10924.4 | 1.6 | | 房间空气调节器 | 万 ...

1. Report Industry Investment Rating - Not provided in the report 2. Core View of the Report - On Tuesday, the HC2605 contract rebounded under pressure. Macroscopically, the Ministry of Finance and the State Taxation Administration issued an announcement on February 2nd, clarifying matters related to the deduction of input VAT. In terms of supply and demand, the weekly output of hot-rolled coils increased, with a capacity utilization rate of 78.99% and a production volume of 3.0921 million tons; terminal demand increased while inventory continued to decline. Overall, the downstream demand for hot-rolled coils is relatively resilient, but the weakening of furnace materials and the strong rebound of the US dollar index put pressure on steel prices. Technically, the 1-hour MACD indicator of the HC2605 contract shows that DIFF and DEA are running at a low level with a stable green bar. It is recommended to conduct short - term trading and pay attention to risk control [2] 3. Summary by Relevant Catalogs 3.1 Futures Market - The closing price of the HC main contract is 3,265 yuan/ton, up 4 yuan; the position volume of the HC main contract is 1,477,230 lots, down 21,563 lots; the net position of the top 20 in the HC contract is - 15,885 lots, up 15,291 lots; the spread between the HC5 - 10 contracts is - 21 yuan/ton, down 6 yuan; the daily warehouse receipt of the HC on the Shanghai Futures Exchange is 204,847 tons, unchanged; the spread between the HC2605 - RB2605 contracts is 166 yuan/ton, up 3 yuan [2] 3.2 Spot Market - The price of 4.75 hot - rolled coils in Hangzhou is 3,300 yuan/ton, up 10 yuan; in Guangzhou, it is 3,270 yuan/ton, up 10 yuan; in Wuhan, it is 3,300 yuan/ton, down 10 yuan; in Tianjin, it is 3,160 yuan/ton, unchanged. The basis of the HC main contract is 35 yuan/ton, up 6 yuan; the spread between hot - rolled coils and rebar in Hangzhou is 40 yuan/ton, up 20 yuan [2] 3.3 Upstream Situation - The price of 61.5% PB powder ore at Qingdao Port is 793 yuan/wet ton, up 6 yuan; the price of quasi - first - grade metallurgical coke in Hebei is 1,490 yuan/ton, unchanged; the price of 6 - 8mm scrap steel in Tangshan is 2,170 yuan/ton, unchanged; the price of Q235 billet in Hebei is 2,920 yuan/ton, unchanged. The inventory of iron ore at 45 ports is 170.1852 million tons, up 2.5567 million tons; the inventory of coke at sample coking plants is 441,400 tons, up 22,000 tons; the inventory of coke at sample steel mills is 6.784 million tons, up 164,100 tons; the inventory of billets in Hebei is 1.5875 million tons, up 25,500 tons [2] 3.4 Industry Situation - The blast furnace operating rate of 247 steel mills is 79.02%, up 0.36 percentage points; the blast furnace capacity utilization rate is 85.45%, down 0.08 percentage points. The weekly output of hot - rolled coils at sample steel mills is 3.0921 million tons, up 38,000 tons; the capacity utilization rate of hot - rolled coils at sample steel mills is 78.99%, up 0.97 percentage points. The inventory of hot - rolled coils at sample steel mills is 772,500 tons, up 6,100 tons; the social inventory of hot - rolled coils in 33 cities is 2.7833 million tons, down 28,100 tons. The monthly output of domestic crude steel is 68.18 million tons, down 1.69 million tons; the monthly net export volume of steel is 1.078 million tons, up 130,000 tons [2] 3.5 Downstream Situation - The monthly output of automobiles is 3.296 million vehicles, down 235,600 vehicles; the monthly sales volume of automobiles is 3.2722 million vehicles, down 156,800 vehicles. The monthly output of air conditioners is 21.6289 million units, up 6.6029 million units; the monthly output of household refrigerators is 10.0115 million units, up 569,500 units; the monthly output of household washing machines is 11.975 million units, down 38,000 units [2] 3.6 Industry News - In January 2026, the China Trade Remedy Information Network successively announced 15 anti - dumping and countervailing investigations or rulings on Chinese steel products by foreign countries, involving carbon steel galvanized wire mesh, cold - rolled steel sheets, hot - rolled coils, stainless - steel washing troughs, and silicon - manganese steel wires. The Ministry of Commerce and eight other departments issued the "2026 'Happy Shopping during the Spring Festival' Special Activity Plan", encouraging localities to increase subsidies for the replacement of old consumer goods during the Spring Festival, strengthening support for offline physical retail, and mobilizing enterprises to carry out exhibitions and sales activities related to automobiles, home appliances, digital, and intelligent products during the Spring Festival [2]

研究员: 蔡跃辉 期货从业资格号F0251444 期货投资咨询从业证书号Z0013101 免责声明 本报告中的信息均来源于公开可获得资料，瑞达期货股份有限公司力求准确可靠，但对这些信息的准确性及完整性不做任何保证，据此投资，责任 自负。本报告不构成个人投资建议，客户应考虑本报告中的任何意见或建议是否符合其特定状况。本报告版权仅为我公司所有，未经书面许可，任 何机构和个人不得以任何形式翻版、复制和发布。如引用、刊发，需注明出处为瑞达期货股份有限公司研究院，且不得对本报告进行有悖原意的引 用、删节和修改。 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | HC 主力合约收盘价(元/吨) | 3,276 | -23↓ HC 主力合约持仓量(手) | 1486145 | -15864↓ | | | HC 合约前20名净持仓(手) | -13,902 | +5130↑ HC5-10合约价差(元/吨) | -19 | +1↑ | | | HC 上期所仓单日报(日，吨) | 216602 | -44 ...

本次监督抽查依据为《SHSSXZJL4001-2025 上海市能效水效标识产品计量监督抽查实施细则（电冰箱）》。具体抽查结果如下： 中国质量新闻网讯 近日，2025年上海市能效标识产品计量监督抽查结果（家用电冰箱）公布。 附原文： 2025年上海市能效标识产品计量监督抽查结果（家用电冰箱） 近期，上海市市场监督管理局对本市流通领域的家用电冰箱进行了能效标识产品计量监督抽查。本次抽查了20批次产品，经检验，2批次不合格。 2025年上海市家用电冰箱能效标识产品计量监督抽查所检项目符合相关标准的产品 | 样品标称名称 | 标称商标 | 标称规格型号 | 标称生产日 | | | 被抽样销售者所在 | 认证机构 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 期/批号 | 标称生产者名称 | 被抽样生产者、销售者 | 商场/电商平台 | | | | 无霜冷藏冷冻箱 | Midea | BCD-186WMA | 未标注/- | 合肥美的电冰箱有 | 上海主祷电器有限公司 | / / / | 中国 质量认 | 证中心 | | | | ...

1. Report Industry Investment Rating - Not provided in the report 2. Core View of the Report - The steel market fundamentals are mixed, with coal and coke futures prices rebounding from their lows, ore prices remaining strong, and the downward trend of the black sector slowing down, providing support for hot-rolled coils. It is recommended to conduct short - term trading and pay attention to risk control [2] 3. Summary by Relevant Catalogs 3.1 Futures Market - The closing price of the HC main contract is 3,263 yuan/ton, up 15 yuan; the trading volume is 1,274,085 lots, down 20,441 lots. The net position of the top 20 in the HC contract is 22,252 lots, down 6,347 lots. The HC5 - 10 contract spread is - 19 yuan/ton, up 4 yuan; the HC2605 - RB2605 contract spread is 152 yuan/ton, up 8 yuan. The HC warehouse receipt on the Shanghai Futures Exchange is 132,188 tons, unchanged [2] 3.2 Spot Market - The price of 4.75 hot - rolled coils in Hangzhou is 3,300 yuan/ton, up 10 yuan; in Guangzhou it is 3,250 yuan/ton, unchanged; in Wuhan it is 3,320 yuan/ton, unchanged; in Tianjin it is 3,160 yuan/ton, down 10 yuan. The basis of the HC main contract is 37 yuan/ton, down 5 yuan; the spread between hot - rolled coils and rebar in Hangzhou is - 10 yuan/ton, up 20 yuan [2] 3.3 Upstream Situation - The price of 61.5% PB powder ore at Qingdao Port is 802 yuan/wet ton, down 7 yuan. The price of quasi - first - grade metallurgical coke in Hebei is 1,540 yuan/ton, unchanged. The price of 6 - 8mm scrap steel in Tangshan (ex - tax) is 2,160 yuan/ton, unchanged. The price of Q235 billet in Hebei is 2,930 yuan/ton, unchanged. The inventory of iron ore at 45 ports is 158.6194 million tons, up 3.538 million tons. The inventory of coke at sample coking plants is 486,000 tons, down 13,700 tons. The inventory of coke at sample steel mills is 6.4383 million tons, up 14,300 tons. The inventory of billets in Hebei is 1.2661 million tons, up 86,000 tons [2] 3.4 Industry Situation - The blast furnace operating rate of 247 steel mills is 78.96%, up 0.66 percentage points; the blast furnace capacity utilization rate is 85.28%, up 0.32 percentage points. The weekly output of hot - rolled coils at sample steel mills is 2.9354 million tons, up 16,300 tons; the capacity utilization rate of hot - rolled coils at sample steel mills is 74.98%, up 0.41 percentage points. The inventory of hot - rolled coils at sample steel mills is 805,200 tons, down 29,000 tons; the social inventory of hot - rolled coils in 33 cities is 2.967 million tons, down 106,000 tons. The monthly output of domestic crude steel is 69.87 million tons, down 2.13 million tons; the monthly net export volume of steel is 9.48 million tons, up 200,000 tons [2] 3.5 Downstream Situation - The monthly output of automobiles is 3.5316 million vehicles, up 172,900 vehicles; the monthly sales volume is 3.429 million vehicles, up 106,900 vehicles. The monthly output of air conditioners is 15.026 million units, up 822,000 units; the monthly output of household refrigerators is 9.442 million units, up 654,000 units; the monthly output of household washing machines is 12.013 million units, up 978,000 units [2] 3.6 Industry News - Hebei Province has drafted the Interim Measures for Reward for Reporting Illegally New - added Steel Production Capacity (Draft for Comment) and is soliciting public opinions. The Passenger Car Association preliminarily estimates that the wholesale volume of new - energy passenger vehicles of national manufacturers in December 2025 is 1.57 million, a year - on - year increase of 4% and a month - on - month decrease of 8%. The cumulative wholesale volume of new - energy passenger vehicles in 2025 is expected to be 15.33 million, a year - on - year increase of 25% [2]

1. Report Industry Investment Rating - The report suggests a bullish but volatile outlook for the hot-rolled coil plate market, with a recommended focus on risk control [2] 2. Core Viewpoint of the Report - On Tuesday, the HC2605 contract saw a rally followed by a pullback. Despite a decline in the terminal demand for plates, the strong performance of furnace materials provides cost support. Additionally, positive macro - policy expectations keep the hot - rolled coil futures price in an upward trend [2] 3. Summary by Related Catalogs 3.1 Futures Market - The closing price of the HC main contract is 3,281 yuan/ton, up 4 yuan; the position volume is 1,198,397 lots, up 9,846 lots; the net position of the top 20 in the HC contract is 24,516 lots, up 718 lots; the HC1 - 5 contract spread is - 1 yuan/ton, down 6 yuan; the HC warehouse receipt at the Shanghai Futures Exchange is 131,893 tons, unchanged; the HC2605 - RB2605 contract spread is 153 yuan/ton, up 2 yuan [2] 3.2 Spot Market - The price of 4.75 hot - rolled coil plates in Hangzhou is 3,320 yuan/ton, up 20 yuan; in Guangzhou it's 3,260 yuan/ton, unchanged; in Wuhan it's 3,330 yuan/ton, unchanged; in Tianjin it's 3,180 yuan/ton, unchanged. The basis of the HC main contract is 39 yuan/ton, up 16 yuan; the Hangzhou hot - rolled coil - rebar spread is - 10 yuan/ton, up 20 yuan [2] 3.3 Upstream Situation - The price of 61.5% PB fine ore at Qingdao Port is 792 yuan/wet ton, down 5 yuan; the price of Hebei quasi - first - grade metallurgical coke is 1,590 yuan/ton, unchanged; the price of Tangshan 6 - 8mm scrap steel is 2,160 yuan/ton, unchanged; the price of Hebei Q235 billet is 2,950 yuan/ton, unchanged. The 45 - port iron ore inventory is 155.0814 million tons, up 802,800 tons; the sample coking plant coke inventory is 517,800 tons, up 18,200 tons; the sample steel mill coke inventory is 6.3358 million tons, down 16,400 tons; the Hebei billet inventory is 1.1313 million tons, up 14,800 tons [2] 3.4 Industry Situation - The 247 - steel - mill blast furnace operating rate is 78.45%, down 0.16 percentage points; the blast furnace capacity utilization rate is 84.91%, down 0.99 percentage points. The sample steel mill hot - rolled coil output is 2.9191 million tons, down 168,000 tons; the sample steel mill hot - rolled coil capacity utilization rate is 74.57%, down 4.29 percentage points. The sample steel mill hot - rolled coil inventory is 834,200 tons, down 6,100 tons; the 33 - city hot - rolled coil social inventory is 3.073 million tons, down 57,600 tons. The domestic crude steel output is 6.987 million tons, down 213,000 tons; the steel net export volume is 948,000 tons, up 20,000 tons [2] 3.5 Downstream Situation - The monthly automobile production is 3.5316 million units, up 172,900 units; the monthly automobile sales are 3.429 million units, up 106,900 units. The monthly air - conditioner output is 15.026 million units, up 822,000 units; the monthly household refrigerator output is 9.442 million units, up 654,000 units; the monthly household washing - machine output is 12.013 million units, up 978,000 units [2] 3.6 Industry News - The central bank has announced a one - time credit repair policy for small - amount personal overdue information (single - amount below 10,000 yuan) within a specific period, applicable to credit cards, mortgages, and consumer loans. In November 2025, most categories of Chinese steel exports rebounded month - on - month, with a rotation in the export structure. The export of coated plates, which had led for months, declined 13.7% month - on - month to 1.753 million tons, while hot - rolled exports rebounded to the first place in monthly export volume [2]

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoint of the Report The HC2605 contract reduced positions and consolidated on Wednesday. The overall terminal demand for hot-rolled coils still shows strong resilience, but high production levels hinder inventory reduction. In the short term, the market is affected by the raw material side and macro expectations, and the market fluctuates within a range. Technically, the 1-hour MACD indicator of the HC2605 contract shows that DIFF and DEA are rebounding from low levels. It is recommended for short-term trading with attention to risk control [2]. 3. Summary by Relevant Catalogs 3.1 Futures Market - HC main contract closing price: 3,245 yuan/ton, down 1 yuan [2]. - HC main contract position: 1,199,948 lots, down 6,813 lots [2]. - HC contract top 20 net position: 35,463 lots, up 1,350 lots [2]. - HC1 - 5 contract spread: 10 yuan/ton, up 2 yuan [2]. - HC Shanghai Futures Exchange warehouse receipt: 131,304 tons, unchanged [2]. - HC2605 - RB2605 contract spread: 161 yuan/ton, down 4 yuan [2]. 3.2 Spot Market - Hangzhou 4.75 hot-rolled coil: 3,280 yuan/ton, unchanged [2]. - Guangzhou 4.75 hot-rolled coil: 3,260 yuan/ton, unchanged [2]. - Wuhan 4.75 hot-rolled coil: 3,330 yuan/ton, unchanged [2]. - Tianjin 4.75 hot-rolled coil: 3,180 yuan/ton, unchanged [2]. - HC main contract basis: 35 yuan/ton, up 1 yuan [2]. - Hangzhou hot-rolled coil - rebar spread: -20 yuan/ton, unchanged [2]. 3.3 Upstream Situation - Qingdao Port 61.5% PB iron ore fines: 785 yuan/wet ton, up 5 yuan [2]. - Hebei quasi-primary metallurgical coke: 1,640 yuan/ton, unchanged [2]. - Tangshan 6 - 8mm scrap steel: 2,140 yuan/ton, unchanged [2]. - Hebei Q235 billet: 2,940 yuan/ton, unchanged [2]. - 45-port iron ore inventory: 154.2786 million tons, up 1.3152 million tons [2]. - Sample coking plant coke inventory: 499,600 tons, up 55,100 tons [2]. - Sample steel mill coke inventory: 6.3522 million tons, up 99,700 tons [2]. - Hebei billet inventory: 1.1165 million tons, down 16,000 tons [2]. 3.4 Industry Situation - 247 steel mill blast furnace operating rate: 78.61%, down 1.53 percentage points [2]. - 247 steel mill blast furnace capacity utilization rate: 85.9%, down 1.16 percentage points [2]. - Sample steel mill hot-rolled coil production: 3.0871 million tons, down 56,000 tons [2]. - Sample steel mill hot-rolled coil capacity utilization rate: 78.86%, down 1.43 percentage points [2]. - Sample steel mill hot-rolled coil factory inventory: 840,300 tons, up 41,100 tons [2]. - 33-city hot-rolled coil social inventory: 3.1306 million tons, down 73,700 tons [2]. - Domestic crude steel production: 69.87 million tons, down 2.13 million tons [2]. - Steel net export volume: 9.484 million tons, up 204,000 tons [2]. 3.5 Downstream Situation - Automobile production: 3.5316 million vehicles, up 172,900 vehicles [2]. - Automobile sales: 3.429 million vehicles, up 106,900 vehicles [2]. - Air conditioner production: 14.204 million units, down 3.8908 million units [2]. - Household refrigerator production: 8.788 million units, down 1.3396 million units [2]. - Household washing machine production: 11.035 million units, down 749,900 units [2]. 3.6 Industry News - Handan launched a level II emergency response for heavy pollution weather on December 14. Three blast furnaces in plate steel mills are under maintenance, and the daily average hot metal output is expected to decrease by about 15,000 tons. Another blast furnace plans to join the maintenance, further affecting the daily average hot metal output [2]. - On December 10, a 1780m³ blast furnace of Tianjin Tiantie began maintenance, affecting the daily average hot metal output by about 6,000 tons, with an expected maintenance period of 34 days [2]. 3.7 Key Points of Concern - Thursday's hot-rolled coil weekly production, in-plant inventory, and social inventory [2].

Core Points - The Ministry of Ecology and Environment has announced a ban on the production of two categories of ozone-depleting substances (ODS) starting from January 1, 2026, specifically targeting household refrigerators and freezers using hydrofluorocarbons (HFCs) as refrigerants and polyurethane products using HCFC-141b as a foaming agent [1][2] - The ban is part of China's commitment to the Montreal Protocol and the Kigali Amendment, aiming to phase out HFCs and protect the ozone layer [1][2] Industry Impact - The polyurethane foam industry is a major consumer of HCFCs, with most sub-sectors having adopted alternative technologies, although some sectors like board and spraying still use HCFC-141b [1] - The household appliance industry, particularly in refrigerators and freezers, predominantly uses low-carbon and environmentally friendly isobutane as a refrigerant, with a penetration rate exceeding 90%, while only a small portion of export products still utilize HFCs [1][2] Technological and Economic Aspects - Isobutane has been successfully applied as a refrigerant for many years, with mature technology and a well-established industrial chain, and it is more cost-effective than HFCs, providing significant overall benefits [2] - All sub-sectors of the polyurethane industry have developed mature alternative technologies, allowing companies to choose substitutes based on product requirements [2] Regulatory Measures - The Ministry of Ecology and Environment will enhance supervision and inspection, imposing penalties on companies that violate the regulations [2] - The ministry plans to promote the implementation of the ban through public awareness, training, and guidance to ensure industries meet the phasing-out deadlines [2]

Core Insights - The Shanghai Municipal Market Supervision Administration conducted a quality inspection of household refrigerators, revealing that out of 20 batches tested, 1 batch was found to be non-compliant with quality standards [1][2]. Group 1: Inspection Results - A total of 20 batches of household refrigerators were sampled, with 1 batch failing the quality inspection [1][2]. - The inspection covered products from 7 provinces, including Shanghai, Guangdong, Shandong, and Anhui, with 5 batches from Shanghai showing no non-compliance [2]. - The non-compliant product was identified in the retail sector, specifically among 16 batches tested, where 1 was found to be substandard [1][2]. Group 2: Non-compliance Analysis - The non-compliance issues were related to storage temperature and freezing capacity tests, which did not meet the required standards [5]. - The storage temperature test failed to maintain the necessary conditions for food preservation, potentially affecting food quality [5]. - The freezing capacity test also failed, indicating that the refrigerator could not achieve the claimed freezing parameters, which could impact long-term food storage [5]. Group 3: Consumer Guidance - Consumers are advised to purchase refrigerators from reputable channels, ensuring products have complete packaging and proper labeling [6][7]. - It is recommended to check for the CCC certification mark and verify technical parameters before purchasing [7]. - Consumers should pay attention to energy efficiency labels, total volume, and freezing temperatures to ensure the refrigerator meets their needs [8][9].

Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Core View On Thursday, the HC2601 contract rebounded with increased positions. The EU announced steel import restrictions on October 7, planning to significantly cut the steel import quota eligible for tariff exemptions and raise the steel tariff from 25% to 50%. The weekly output of hot-rolled coils remains high with a capacity utilization rate of 82.58%, but demand has declined and inventory has increased. Overall, the holiday affected terminal demand, and tariff disruptions affected market confidence. However, the expectation of post-holiday demand recovery, combined with the rebound of furnace materials, may support steel prices. Technically, the 1-hour MACD indicator of the HC2601 contract shows that DIFF and DEA rebounded from low levels, and the green bar turned red. It is recommended to conduct short-term trading and pay attention to rhythm and risk control [2]. 3. Summary by Relevant Catalogs Futures Market - HC main contract closing price: 3,286 yuan/ton, up 33 yuan [2]. - HC main contract open interest: 1,374,586 lots, up 24,718 lots [2]. - HC contract top 20 net positions: -23,217 lots, up 21,390 lots [2]. - HC1 - 5 contract spread: -7 yuan/ton, down 1 yuan [2]. - HC Shanghai Futures Exchange warehouse receipt: 46,314 tons, unchanged [2]. - HC2601 - RB2601 contract spread: 190 yuan/ton, up 9 yuan [2]. Spot Market - Hangzhou 4.75 hot-rolled coil: 3,370 yuan/ton, up 20 yuan [2]. - Guangzhou 4.75 hot-rolled coil: 3,320 yuan/ton, up 10 yuan [2]. - Wuhan 4.75 hot-rolled coil: 3,400 yuan/ton, unchanged [2]. - Tianjin 4.75 hot-rolled coil: 3,290 yuan/ton, up 10 yuan [2]. - HC main contract basis: 84 yuan/ton, down 13 yuan [2]. - Hangzhou hot-rolled coil - rebar spread: 80 yuan/ton, up 10 yuan [2]. Upstream Situation - Qingdao Port 61.5% PB iron ore fines: 783 yuan/wet ton, up 5 yuan [2]. - Hebei quasi-primary metallurgical coke: 1,490 yuan/ton, unchanged [2]. - Tangshan 6 - 8mm scrap steel: 2,250 yuan/ton, unchanged [2]. - Hebei Q235 billet: 2,960 yuan/ton, up 10 yuan [2]. - 45-port iron ore inventory: 139.9735 million tons, up 1.9313 million tons [2]. - Sample coking plant coke inventory: 39.06 million tons, down 0.23 million tons [2]. - Sample steel mill coke inventory: 663.11 million tons, up 1.73 million tons [2]. - Hebei billet inventory: 127.6 million tons, up 7.94 million tons [2]. Industry Situation - 247 steel mill blast furnace operating rate: 84.27%, down 0.20% [2]. - 247 steel mill blast furnace capacity utilization rate: 90.63%, down 0.25% [2]. - Sample steel mill hot-rolled coil output: 3.2329 million tons, down 0.014 million tons [2]. - Sample steel mill hot-rolled coil capacity utilization rate: 82.58%, down 0.37% [2]. - Sample steel mill hot-rolled coil factory inventory: 83.60 million tons, up 2.40 million tons [2]. - 33-city hot-rolled coil social inventory: 3.2930 million tons, up 0.2992 million tons [2]. - Domestic crude steel output: 77.37 million tons, down 2.29 million tons [2]. - Steel net export volume: 9.01 million tons, down 0.38 million tons [2]. Downstream Situation - Automobile production: 2.8154 million vehicles, up 0.2243 million vehicles [2]. - Automobile sales: 2.8566 million vehicles, up 0.2632 million vehicles [2]. - Air conditioner production: 16.8188 million units, down 3.7777 million units [2]. - Household refrigerator production: 9.4532 million units, up 0.7225 million units [2]. - Household washing machine production: 10.1318 million units, up 1.3575 million units [2]. Industry News - This week, the total inventory of five major steel products was 16.0072 million tons, up 1.2786 million tons. Among them, the steel mill inventory was 4.7256 million tons, up 0.5863 million tons; the social inventory was 11.2816 million tons, up 0.6923 million tons [2]. - From September 29 to October 5, 2025, global shipyards received 18 new ship orders. Chinese shipyards received 13 orders, South Korean shipyards received 4 orders, and Finnish shipyards also received relevant orders [2].