Epidemic situation: intensified in China and eased abroad. As of February 11, the average daily number of newly confirmed cases in China in the past week was 48; The world's latest daily average of more than 2.32 million new cases were diagnosed.
Real economy - upstream: most of the prices of resource products rise, and the price of main coking coal decreases. OPEC crude oil price rose 3.2% month on month to 92.9 US dollars / barrel; The average price of main coking coal decreased by 1.5% month on month to 2304 yuan / ton; The market price of Qinhuangdao Power Coal (q5500) was flat month on month, at 1010 yuan / ton; Iron ore prices rose 3.6% month on month to 1026.2 yuan / ton; LME copper spot price rose 1.7% month on month to US $10040 / ton, and LME aluminum spot price rose 3.7% month on month to US $3200 / ton.
Real economy - midstream: weak production and price differentiation of industrial products. Coal consumption in 8 coastal provinces fell by - 21.7% year-on-year this week, mainly due to the dislocation of the Spring Festival. The alignment of the lunar calendar shows that the growth rate of coal consumption before and after the Spring Festival is stable; The operating rate of electric furnace decreased by 17.0% year-on-year, and the decline narrowed; The operating rate of petroleum asphalt plant decreased by 33.6% year-on-year, and the decline was expanded; PTA operating rate decreased by 5.0% year-on-year, and the decline was expanded; The operating rate of automobile semi steel tire decreased by 13.1% year-on-year, and the decline narrowed. China's steel price index rose 3.4% month on month; PTA price index rose 1.8% month on month; The cement price index decreased by 0.4% month on month; The price of float flat glass has not been updated.
Real economy - downstream: real estate sales weakened and dry bulk freight rates rose significantly. The transaction area of commercial housing in 30 large and medium-sized cities in China has decreased by 73.7% year-on-year in the past two weeks, mainly due to the dislocation of the Spring Festival. According to the lunar calendar, it has decreased by about 21% year-on-year, and the decline has also expanded; The land transaction area of Baicheng decreased and the land premium rate increased; The average daily sales volume of passenger cars decreased, lower than that in the same period of last year; China's export container freight index (CCFI) rose 0.6% month on month, China's import dry bulk freight index (CDFI) rose 19.6% month on month, and South Korea's exports fell 12.6% year-on-year in the first 10 days of February, weakening the trend.
Food prices: the prices of meat, eggs and vegetables fell in an all-round way, and the prices of staple grains remained stable. Shenzhen Agricultural Products Group Co.Ltd(000061) the wholesale price index fell 2.5% month on month; Pork prices fell 5.1% month on month; Chicken prices fell 1.3% month on month and egg prices fell 5.7% month on month; Vegetable prices fell by 5.6% month on month; Fruit prices rose by 1.0% month on month; The prices of middle and late rice, corn and wheat were flat month on month, and the prices of wheat were up 0.1% month on month; Soybean prices rose 0.6% month on month, and soybean oil prices rose 1.7% month on month.
Financial environment: the money market interest rate is down, and the medium and long-term yield of medium and long-term bonds is up. In the money market, R007 and dr007 went down 31bps and 33bps respectively; The issuing interest rate of interbank certificates of deposit decreased 1bps month on month. In the bond market, the yield to maturity (1 year / 5 years / 10 years) of Chinese bonds and government bonds rose by - 3bps / 14bps / 9bps respectively; The 5-year maturity yield (AA / AAA) of China national debt corporate bonds increased by 10bps / 12bps respectively month on month; The credit rating interest margin decreased by 2bps month on month; The yield to maturity of US bonds (1 year / 5 years / 10 years) rose by 18bps / 6bps / - 1bps respectively.
Risk tip: the epidemic situation is repeated and the external environment is more uncertain.
