工业生产周报：上中下游开工率继续上行

敬请参阅末页重要声明及评级说明 证券研究报告 [Table_Title] 上中下游开工率继续上行 ——工业生产周报20220828 2 [Table_IndNameRptType] 固定收益 !"#$ 报告日期： 2022-08-28 [Table_Author] 首席分析师：颜子琦 执业证书号：S0010522030002 电话：13127532070 邮箱：yanzq@hazq.com 研究助理：杨佩霖%&'()*+S0010122040030%,-+17861391391%.箱：yangpl@hazq.com%% [Table_Report] !"#$% [Table_Summary] l 上游 高炉开工率继续上行。截至上周五，唐山高炉开工率与全国247家样本钢厂高炉开工率分别录得57.1%、80.1%，分别较前值提升0.8、2.2pct。230家独立焦化厂产能利用率录得74.7%，较前值提升1.5pct。截至8月20日，生铁日均产量环比增加3.8%，粗钢日均产量环比增加2.7%，钢材日均产量环比增加0.2%。上周国内主要港口铁矿石库存环比下降0.5%。根据EIA周报，截止8月19日，除战略石油储备外，EIA原油和石油产品库存录得121.4千万桶，较上上周增加0.11%，环比由负转正。 l 中游 PTA开工率、沥青开工率上行。上周全国PTA开工率较前值提升2.4pct。截止8月24日，国内64家样本企业沥青开工率录得38.9%，较前值提升4.5pct。上周浮法玻璃开工率环比下降0.7pct。上周全国建材钢厂螺纹钢产量、线材产量分别较前值增加1.6%、0.5%。 l 下游 汽车行业半钢胎开工率、全钢胎开工率上行，航运指数持续下跌。上周国内半钢胎开工率、全钢胎开工率分别较前值上升0.3、1.8pct。上周中国出口集装箱运价综合指数（CCFI）环比下跌3.0%，跌幅较前值扩大0.4pct；波罗的海干散货指数环比下跌15.4%，跌幅较前值扩大2.0pct。 l 风险提示 疫情存在不确定性，基本面变化超预期。 [Table_CompanyRptType] 固收周报 敬请参阅末页重要声明及评级说明 2 / 10 证券研究报告 正文目录 1 !" ........................................................................................................................................................................ 4 1.1 !"#$% ...................................................................................................................................................... 4 1.2 !"&' .......................................................................................................................................................... 4 1.3 !"() .......................................................................................................................................................... 5 2 *" ........................................................................................................................................................................ 6 2.1 *"#$% ...................................................................................................................................................... 6 2.2 *"&' .......................................................................................................................................................... 6 2.3 *"() .......................................................................................................................................................... 7 3 +" ........................................................................................................................................................................ 8 4 风险提示： .............................................................................................................................................................. 9 [Table_CompanyRptType] 固收周报 敬请参阅末页重要声明及评级说明 3 / 10 证券研究报告 图表目录 ,-1 ./0123456#$%78!9 .................................................................................................................. 4 ,-2 :;1&<=>%78?@ ................................................................................................................................ 4 ,-3 ABCD0C0EFG&'H8IJ .................................................................................................................. 4 ,-4 247K01:LFG&'MNIJ ...................................................................................................................... 4 ,-5 OPQRBST()UVWXYZ ..................................................................................................................... 5 ,-6 247K01[:\()UVW]Y^ ................................................................................................................... 5 ,-7 EIA_`aT`&b()IJ .............................................................................................................................. 5 ,-8 64K./cdef#$%!@ ............................................................................................................................ 6 ,-9 ghPTA#$%!@ .......................................................................................................................................... 6 ,-10 ijkl#$%+Z ......................................................................................................................................... 6 ,-11 mnop#$%+Zqr&A&st'uv ..................................................................................................... 6 ,-12 wx0&'UVIJqINyz ....................................................................................................................... 7 ,-13 sE&'UVIJqINyz ........................................................................................................................... 7 ,-14 {|OP0Eb}*sEC~Ä(IJCÅÇb}()+Z ........................................................................ 7 ,-15 ÉÑ()UVW]Y^ ...........................................................................................................