锟斤拷锟斤拷锟斤拷锟斤拷摘要锟斤拷
锟斤拷锟斤拷一锟斤拷3锟斤拷锟斤拷锟斤拷业PMI锟斤拷预锟节凤拷锟斤拷锟斤拷锟斤拷锟皆癸拷业锟矫碉拷锟斤拷锟斤拷锟斤拷锟斤拷
锟斤拷锟斤拷锟斤拷锟斤拷4锟斤拷锟较凤拷锟斤拷水锟斤拷锟芥，全锟斤拷锟斤拷锟铰斤拷锟斤拷锟斤拷偏锟斤拷
锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷煤锟秸耗碉拷位锟斤拷锟饺ｏ拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷维锟斤拷锟斤拷锟斤拷水平
锟斤拷锟斤拷锟侥★拷锟截猴拷煤炭锟剿价凤拷锟斤拷锟斤拷锟戒，锟截港黄革拷锚锟截达拷锟斤拷锟斤拷锟铰斤拷
锟斤拷锟斤拷锟藉、锟截革拷煤炭锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟铰碉拷煤炭锟斤拷路锟剿凤拷
锟斤拷锟斤拷锟斤拷锟斤拷1-2锟斤拷原煤锟斤拷锟斤拷同锟饺大降ｏ拷锟斤拷锟矫伙拷暖锟斤拷锟斤拷去锟斤拷锟杰筹拷预锟斤拷
锟斤拷锟斤拷锟竭★拷锟斤拷锟斤拷煤锟斤拷锟斤拷鄄锟斤拷锟斤拷锟皆わ拷锟�3锟铰斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷
锟斤拷锟斤拷锟剿★拷锟斤拷锟斤拷zc1605锟斤拷锟斤拷锟斤拷370元/锟街革拷锟斤拷锟斤拷锟结，锟斤拷锟斤拷卓锟絲c1609锟斤拷锟斤拷zc1701锟斤拷zc1605锟斤拷锟叫★拷
锟斤拷锟斤拷一锟斤拷3锟斤拷锟斤拷锟斤拷业PMI锟斤拷预锟节凤拷锟斤拷锟斤拷锟斤拷锟皆癸拷业锟矫碉拷锟斤拷锟斤拷锟斤拷锟斤拷
锟斤拷锟斤拷图1 锟叫癸拷锟斤拷锟斤拷锟斤拷锟斤拷锟揭礟MI(%)
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锟斤拷锟斤拷图2 锟斤拷锟斤拷锟斤拷锟斤拷锟截诧拷锟教讹拷锟绞诧拷投锟斤拷锟斤拷啥锟�(%)
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锟斤拷锟斤拷锟叫癸拷3锟铰官凤拷锟斤拷锟斤拷业PMI锟斤拷锟斤拷锟斤拷锟斤拷锟�50.2锟斤拷锟斤拷去锟斤拷8锟斤拷锟斤拷锟斤拷锟阶次回碉拷锟劫匡拷锟斤拷锟斤拷锟较ｏ拷预锟斤拷49.4锟斤拷前值49.0锟斤拷锟接凤拷锟斤拷指锟斤拷锟斤拷锟斤拷锟节癸拷锟斤拷锟斤拷锟斤拷业PMI锟斤拷5锟斤拷锟斤拷锟斤拷指锟斤拷锟叫ｏ拷锟斤拷锟斤拷指锟斤拷锟斤拷锟铰讹拷锟斤拷指锟斤拷锟斤拷锟斤拷应锟斤拷锟斤拷锟斤拷时锟斤拷指锟斤拷锟斤拷锟斤拷锟劫斤拷悖拷锟揭碉拷锟皆敝革拷锟斤拷锟皆拷锟斤拷峡锟斤拷指锟斤拷锟斤拷锟斤拷锟劫斤拷恪ｏ拷锟斤拷锟街革拷锟轿�52.3%锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷2.1锟斤拷锟劫分点，锟斤拷锟斤拷位锟斤拷锟劫斤拷锟斤拷锟斤拷希锟斤拷锟斤拷锟斤拷锟斤拷锟揭碉拷锟斤拷锟斤拷锟斤拷偌涌臁ｏ拷露锟斤拷锟街革拷锟轿�51.4%锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷2.8锟斤拷锟劫分点，锟截凤拷锟斤拷锟斤拷锟斤拷锟戒，锟斤拷锟斤拷锟斤拷锟斤拷业锟叫筹拷锟斤拷锟斤拷锟斤拷锟斤拷锟�
锟斤拷锟斤拷3锟斤拷PMI锟斤拷锟捷凤拷映锟斤拷锟斤拷锟皆的撅拷锟斤拷锟斤拷锟节达拷锟阶革拷锟秸碉拷锟脚号ｏ拷锟斤拷锟角帮拷诠锟斤拷锟斤拷暮锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟教讹拷锟绞诧拷投锟绞伙拷锟斤拷锟斤拷锟斤拷锟截诧拷锟叫筹拷锟斤拷暖锟斤拷锟叫癸拷锟斤拷锟捷★拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟饺ｏ拷锟斤拷锟矫革拷锟斤拷锟斤拷然锟斤拷锟街筹拷锟斤拷锟矫碉拷锟斤拷锟斤拷循锟斤拷锟斤拷锟斤拷锟斤拷锟揭癸拷锟斤拷锟矫结构锟斤拷锟斤拷锟侥角度匡拷锟角ｏ拷锟斤拷锟矫凤拷锟斤拷锟皆癸拷业锟矫碉拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟金步硷拷锟斤拷锟斤拷锟皆讹拷锟斤拷煤锟斤拷锟斤拷锟斤拷锟斤拷锟轿拷锟斤拷蕖锟�
锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷煤锟斤拷业锟斤拷锟斤拷锟斤拷
锟斤拷锟斤拷(一)4锟斤拷锟较凤拷锟斤拷水锟斤拷锟芥，全锟斤拷锟斤拷锟铰斤拷锟斤拷锟斤拷偏锟斤拷
锟斤拷锟斤拷图3 全锟斤拷4锟斤拷锟斤拷旬锟斤拷水锟斤拷预锟斤拷(锟斤拷锟斤拷)
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锟斤拷锟斤拷图4 全锟斤拷3锟斤拷锟斤拷旬锟斤拷锟铰撅拷平预锟斤拷(锟斤拷)
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锟斤拷锟斤拷锟斤拷水锟斤拷锟芥，4锟斤拷锟斤拷旬锟斤拷锟斤拷锟斤拷锟斤拷锟较凤拷锟襟部斤拷水锟斤拷锟斤拷10-30锟斤拷锟阶ｏ拷锟斤拷锟叫斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟较★拷锟斤拷锟较憋拷锟斤拷锟饺碉拷锟桔伙拷锟斤拷水锟斤拷锟斤拷50锟斤拷80锟斤拷锟阶ｏ拷锟斤拷锟较憋拷锟斤拷锟斤拷锟斤拷锟斤拷锟侥诧拷锟街碉拷锟斤拷锟缴达拷110-200锟斤拷锟阶ｏ拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷水锟斤拷锟较筹拷锟斤拷同锟斤拷偏锟斤拷5锟斤拷7锟缴★拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷[微锟斤拷]锟斤拷锟饺地斤拷水锟斤拷锟斤拷2锟斤拷7锟斤拷锟阶ｏ拷锟较筹拷锟斤拷同锟斤拷锟斤拷偏锟洁。4锟斤拷锟斤拷旬锟斤拷锟斤拷要锟斤拷水锟斤拷位锟节斤拷锟斤拷锟斤拷锟斤拷锟较★拷锟斤拷锟较等地ｏ拷锟桔伙拷锟斤拷锟斤拷锟斤拷锟斤拷30-50锟斤拷锟阶ｏ拷锟斤拷锟叫诧拷锟街碉拷锟斤拷锟斤拷60-80锟斤拷锟阶★拷锟街碉拷锟斤拷100-180锟斤拷锟阶ｏ拷锟襟部碉拷锟斤拷锟斤拷锟斤拷锟斤拷锟较筹拷锟斤拷偏锟斤拷2-5锟缴ｏ拷锟斤拷要锟斤拷水锟斤拷锟教斤拷锟斤拷锟斤拷锟斤拷4锟斤拷10-12锟秸★拷4锟斤拷15-16锟秸★拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟铰斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟叫诧拷锟饺地斤拷水锟斤拷锟较筹拷锟斤拷同锟斤拷锟斤拷偏锟斤拷锟解，锟斤拷锟斤拷锟斤拷锟斤拷咏锟斤拷锟斤拷锟斤拷锟斤拷偏锟劫★拷4锟斤拷锟较凤拷锟斤拷锟斤拷锟斤拷水锟斤拷锟斤拷偏锟洁，锟斤拷锟斤拷水锟界。
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锟斤拷锟斤拷(锟斤拷)锟斤拷煤锟秸耗碉拷位锟斤拷锟饺ｏ拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷维锟斤拷锟斤拷锟斤拷水平
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锟斤拷锟斤拷(锟斤拷)锟截猴拷煤炭锟剿价凤拷锟斤拷锟斤拷锟戒，锟截港黄革拷锚锟截达拷锟斤拷锟斤拷锟铰斤拷
锟斤拷锟斤拷图7 锟叫癸拷锟截猴拷煤炭锟剿硷拷(元/锟斤拷)
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