1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - The supply - demand situation of industrial silicon and polysilicon is complex. For industrial silicon, there is an issue of supply exceeding demand, with the supply side having increased production last week, while demand has been continuously sluggish. For polysilicon, the supply side is also relatively strong, and the demand recovery is at a low level [6][8][9]. - The cost support of industrial silicon is expected to increase, and it is predicted to fluctuate in the range of 8165 - 8555 for the 2509 contract. Polysilicon is expected to fluctuate in the range of 47310 - 50130 for the 2511 contract [6][10]. - The main logic for the current market situation is the mismatch of production capacity, leading to a situation where supply exceeds demand, and the downward trend is difficult to change [15]. 3. Summary According to the Directory 3.1 Daily View - Industrial Silicon - **Supply - side**: Last week, the supply of industrial silicon was 81,000 tons, a 3.85% increase compared to the previous week. The expected production schedule on the supply side is decreasing and remains at a low level [6]. - **Demand - side**: Last week, the demand for industrial silicon was 70,000 tons, a 1.40% decrease compared to the previous week. The demand recovery is at a low level [6]. - **Inventory**: The silicon inventory is 229,000 tons, at a high level. The social inventory is 540,000 tons, a 0.93% increase compared to the previous week. The sample enterprise inventory is 171,450 tons, a 3.40% decrease compared to the previous week. The main port inventory is 119,000 tons, a 0.83% decrease compared to the previous week [6]. - **Cost**: In the Xinjiang region, the production loss of the sample oxygen - passing 553 is 2,354 yuan/ton, and the cost support during the wet season has weakened [6]. - **Others**: The 09 contract basis is 940 yuan/ton, with the spot at a premium to the futures. The MA20 is upward, and the 09 contract price closes below the MA20. The net short position of the main contract is increasing [6]. 3.2 Daily View - Polysilicon - **Supply - side**: Last week, the production of polysilicon was 26,500 tons, a 3.92% increase compared to the previous week. The predicted production schedule for August is 130,500 tons, a 22.76% increase compared to the previous month [8]. - **Demand - side**: Last week, the silicon wafer production was 11 GW, a 1.78% decrease compared to the previous week. The inventory is 181,500 tons, a 1.56% increase compared to the previous week. Currently, silicon wafer production is in a loss state. The production of battery cells and components also shows different trends in production and inventory [9]. - **Inventory**: The weekly inventory is 229,000 tons, a 5.76% decrease compared to the previous week, at a high level compared to the same period in history [12]. - **Cost**: The average cost of the polysilicon N - type material industry is 36,500 yuan/ton, and the production profit is 9,500 yuan/ton [9]. - **Others**: The 11 contract basis is - 1980 yuan/ton, with the spot at a discount to the futures. The MA20 is upward, and the 11 contract price closes above the MA20. The net long position of the main contract is decreasing [12]. 3.3 Market Overview - **Industrial Silicon**: The prices of various contracts and spot prices have decreased to varying degrees. The weekly social inventory has increased, while the sample enterprise inventory has decreased, and the main port inventory has decreased [18]. - **Polysilicon**: The prices of various products such as silicon wafers, battery cells, and components have remained relatively stable, with some changes in production, inventory, and export volume [20]. 3.4 Other Aspects - **Price - Basis and Delivery Product Spread Trends**: The report presents the trends of the SI main contract basis and the 421 - 553 spread [22]. - **Inventory**: It shows the trends of industrial silicon inventory in different regions and types, including delivery warehouses, ports, and sample enterprises [26]. - **Production and Capacity Utilization**: The report shows the trends of industrial silicon production and capacity utilization in different regions and time periods [28]. - **Cost Composition**: It presents the trends of main production area electricity prices, silicon stone prices, graphite electrode prices, and some reducing agent prices [33]. - **Cost - Sample Region Trends**: It shows the cost - profit trends of 421 in Sichuan and Yunnan and the oxygen - passing 553 in Xinjiang [35]. - **Supply - Demand Balance**: The report provides the weekly and monthly supply - demand balance tables of industrial silicon and the monthly supply - demand balance table of polysilicon [37][40][64]. - **Downstream Industry Trends**: It details the price, production, inventory, import - export, and other trends of downstream industries such as organic silicon, aluminum alloy, and polysilicon [43][51][61].

交易咨询业务资格：证监许可【2012】1091号 豆粕早报 2025-08-05 大越期货投资咨询部：王明伟 从业资格证号：F0283029 投资咨询资格证号：Z0010442 联系方式：0575-85226759 重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投资建议。 我司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投资需谨慎。 CONTENTS 目 录 1 每日提示 2 近期要闻 3 多空关注 4 基本面数据 5 持仓数据 ✸豆粕观点和策略 1.基本面：美豆震荡收涨，美豆产区天气仍有变数和技术性震荡整理，美豆千点关口附近震 荡等待中美关税谈判后续和美国大豆产区种植天气进一步指引。国内大豆震荡回升，美 豆走势带动和技术性震荡整理，进口大豆到港增多和新季国产大豆增产预期压制盘面， 短期受中美关税谈判后续和进口大豆到港增多预期交互影响。中性。 2.基差：现货4300，基差183，升水期货。偏多 3.库存:油厂大豆库存645.59万吨，上周642.24万吨，环比增加0.52%，去年同期611.2万吨， 同比增5.08%。偏空 4.盘面：价格在20 ...

交易咨询业务资格：证监许可【2012】1091号 纯碱早报 2025-8-5 大越期货投资咨询部 金泽彬 从业资格证号：F3048432 投资咨询证号： Z0015557 联系方式：0575-85226759 重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投 资建议。 我司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投资需谨慎。 每日观点 纯碱： 1、基本面： "反内卷"情绪消退；碱厂检修较少，供给仍处高位；下游浮法玻璃日熔量平稳， 光伏日熔量大幅下滑，终端需求走弱，纯碱厂库处于历史高位；偏空 2、基差：河北沙河重质纯碱现货价1240元/吨，SA2509收盘价为1253元/吨，基差为-13元，期货 升水现货；偏空 3、库存：全国纯碱厂内库存179.58万吨，较前一周减少3.69%，库存在5年均值上方运行；偏空 4、盘面：价格在20日线下方运行，20日线向上；中性 5、主力持仓：主力持仓净空，空增；偏空 6、预期：纯碱基本面供强需弱，政策利好情绪消退，短期预计震荡偏弱运行为主。 影响因素总结 利多： 1、夏季检修高峰期来临，产量将有所下滑。 利空 ...

交易咨询业务资格：证监许可【2012】1091号 沪铜早报- 大越期货投资咨询部 : 祝森林 从业资格证号：F3023048 投资咨询证号： Z0013626 联系方式：0575-85226759 重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投资建议。 我司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投资需谨慎。 每日观点 铜: 1、基本面：冶炼企业有减产动作，废铜政策有所放开，7月份制造业采购经理指数（PMI）为49.3%， 比上月下降0.4个百分点；中性。 2、基差：现货78345，基差15，升水期货；中性。 3、库存：8月4日铜库存减2175至139575吨，上期所铜库存较上周减880吨至72543吨；中性。 4、盘面：收盘价收于20均线下，20均线向下运行；偏空。 5、主力持仓：主力净持仓多，多减；偏多。 6、预期：美联储降息放缓，库存回升，地缘扰动仍存，淡季消费承压，铜价震荡调整. 近期利多利空分析 利多： 利空： 逻辑： 国内政策宽松 和 贸易战升级 风险： 自然灾害 1、俄乌,伊以地缘政治扰动。 2、美联储降息。 3、矿端增产缓 ...

焦煤焦炭早报（2025-8-5） 大越期货投资咨询部 胡毓秀 从业资格证号：F03105325 投资咨询证：Z0021337 联系方式：0575-85226759 交易咨询业务资格：证监许可【2012】1091号 重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投资建议。 我司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投资需谨慎。 每日观点 焦煤： 1、基本面：前期因环保、顶库等原因减停产的煤矿陆续复产，但复产速度偏慢。下游目前仍在补库周 期，煤矿普遍出货顺畅，部分紧张煤种价格仍有上涨预期，不过经过煤价前期的大幅上涨，下游对部分 高价煤种开始谨慎采购，线上竞拍资源涨跌互现，部分煤种价格出现回落；偏多 2、基差：现货市场价1070，基差-71；现货贴水期货；偏空 3、库存：钢厂库存803.8万吨，港口库存282.1万吨，独立焦企库存844.1万吨，总样本库存1930万吨， 较上周减少3万吨；偏多 4、盘面：20日线向上，价格在20日线上方；偏多 5、主力持仓：焦煤主力净空，空减；偏空 6、预期：焦炭第五轮提涨落地，焦企利润进一步修复，开工暂稳，虽 ...

沪铝早报- 交易咨询业务资格：证监许可【2012】1091号 大越期货投资咨询部 ：祝森林 从业资格证号：F3023048 投资咨询证号：Z0013626 联系方式：0575-85226759 重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投资建议。 我司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投资需谨慎。 每日观点 铝: 1、基本面：碳中和控制产能扩张，下游需求不强劲，房地产延续疲软，宏观短期情绪多变；中性。 2、基差：现货20470，基差-55，贴水期货，中性。 3、库存：上期所铝库存较上周增1737吨至117527吨；中性。 4、盘面：收盘价收于20均线下，20均线向下运行；偏空。 5、主力持仓：主力净持仓多，多减；偏多。 6、预期：碳中和催发铝行业变革，长期利多铝价，多空交织，铝价震荡运行。 近期利多利空分析 利多： 利空： 逻辑： 降息和需求疲软博弈 1、碳中和控制产能扩张。 2、俄乌地缘政治扰动，影响俄铝供应。 3、降息 1、全球经济并不乐观，高铝价会压制下游消费。 2、铝材出口退税取消 每日汇总 | 现货 昨日现货 | 地方 ...

交易咨询业务资格：证监许可【2012】1091号 沪镍&不锈钢早报—2025年8月5日 大越期货投资咨询部 祝森林 从业资：F3023048 投资咨询证：Z0013626 联系方式：0575-85226759 重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投资建议。 我司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投资需谨慎。 沪镍 每日观点 6、结论：沪镍2509：20均线上下宽幅震荡运行。 1、基本面：外盘反弹，但20均线承压。产业链上，矿价弱稳，镍铁价格同样弱稳，但部分报价有所回 升，成本线依然在低位。不锈钢7、8月是传统消费淡季，本周库存300系有小幅上升。新能源汽车产销 数据较好，但三元电池装车量在下降，镍在新能源的需求下降。中长线过剩格局不变。偏空 2、基差：现货121250，基差620，偏多 3、库存：LME库存209082，0，上交所仓单21170，-204，偏空 4、盘面：收盘价收于20均线以下，20均线向上，中性 5、主力持仓：主力持仓净空，空增，偏空 多空因素 影响因素总结 利多： 利空： 1、接下来金九银十预期 2、反内 ...

1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Core Views - PTA: The PTA futures fluctuated at a low level yesterday, with a general negotiation atmosphere in the spot market and a weak spot basis. Some mainstream suppliers sold their goods. The supply - demand pattern is okay due to some PTA device shutdowns last week, but the spot basis is weak. Considering the cooling macro - atmosphere, commodity correction, insufficient cost support, and weak downstream demand in the off - season, the PTA spot price is expected to fluctuate in the short term. Attention should be paid to whether there are new changes in PTA devices under continuous low processing fees [5]. - MEG: On Monday, the price of ethylene glycol fluctuated within a narrow range, and the market negotiation was general. Due to weather - related delays in vessel arrivals this week, the visible inventory is expected to decline. The ethylene glycol operating rate has rebounded to around 69%, and there is still room for improvement. Fundamentally, the supply - demand of ethylene glycol will shift to inventory accumulation, and the tradable spot in the market will gradually become more abundant. It is expected that the price of ethylene glycol will be adjusted weakly in the short term, and attention should be paid to changes in the cost side [7]. 3. Summary by Directory 3.1. Previous Day Review No specific content for the previous day review is provided. 3.2. Daily Tips - **PTA** - Fundamental aspect: Futures were low - level fluctuating, spot negotiation was general, and basis was weak. 8 - month mainstream transactions were at 09 - 15, 9 - month mid - term at 09 flat, and 9 - month end at 09 + 5. Today's mainstream spot basis is 09 - 15 [5]. - Basis: Spot price is 4700, 09 - contract basis is 2, and the futures price is higher than the spot price [6]. - Inventory: PTA factory inventory is 3.82 days, a decrease of 0.17 days compared to the previous period [6]. - Position of main players: Net short position with an increase in short positions [5]. - Expectation: Short - term price fluctuation, pay attention to new changes in devices under low processing fees [5]. - **MEG** - Fundamental aspect: Price fluctuated narrowly, and market negotiation was general. Spot transactions were in a narrow range, with a premium of 77 - 80 yuan/ton over the 09 - contract. The foreign - exchange price also fluctuated narrowly [7]. - Basis: Spot price is 4455, 09 - contract basis is 66, and the spot price is higher than the futures price [7]. - Inventory: The total inventory in East China is 42.74 tons, a decrease of 4.14 tons compared to the previous period [7]. - Position of main players: Net short position with a decrease in short positions [7]. - Expectation: Short - term weak price adjustment, pay attention to cost - side changes [7]. 3.3. Today's Focus No specific content for today's focus is provided. 3.4. Fundamental Data - **PTA Supply - Demand Balance Sheet**: It shows the data of PTA production capacity, load, output, import, total supply, polyester production, consumption, and inventory from January 2024 to December 2025, reflecting the supply - demand relationship and inventory changes over time [10]. - **Ethylene Glycol Supply - Demand Balance Sheet**: It presents the data of ethylene glycol's total operating rate, production, import, total supply, polyester production, consumption, and port inventory from January 2024 to December 2025, showing the supply - demand situation and inventory changes [11]. - **Price - related Data**: It includes the price, production profit, capacity utilization rate, inventory, and various spreads of bottle chips, as well as the basis, spreads, and price differences of PTA and MEG, and the processing fees and profits of related products, covering the data from 2020 to 2025 [13][16][23][26][29][36]. - **Inventory - related Data**: It shows the inventory data of PTA, MEG, PET slices, and various polyester products, including factory - level and port - level inventories, from 2021 to 2025 [40][42][49]. - **Operating Rate - related Data**: It presents the operating rate data of PTA, paraxylene, ethylene glycol, polyester factories, and PTA - related industries from 2020 to 2025 [51][53][55]. - **Profit - related Data**: It includes the processing fees of PTA and the production profits of MEG and various polyester products from 2022 to 2025 [58][61][64].

Report Industry Investment Rating No relevant content provided. Core View of the Report - The prices of oils and fats are expected to fluctuate and consolidate. The domestic fundamentals are loose, and the domestic supply of oils and fats is stable. The USDA's South American production forecast for the 24/25 season is high, the Malaysian palm oil inventory is neutral, and demand has improved. Indonesia's B40 policy promotes domestic consumption, and the US biodiesel policy for soybean oil supports increased biodiesel consumption. The Chinese government's decision to impose tariffs on Canadian rapeseed has led to a rise in the rapeseed sector, and the domestic fundamentals of oils and fats are neutral with stable import inventories. The easing of Sino-US and Sino-Canadian relations affects the market at the macro level [2][3][4]. Summary by Related Catalogs Daily View - Soybean Oil - **Fundamentals**: The MPOB report shows that in May, Malaysian palm oil production decreased by 9.8% month-on-month to 1.62 million tons, exports decreased by 14.74% to 1.49 million tons, and the end-of-month inventory decreased by 2.6% to 1.83 million tons. The report is neutral as the production reduction is less than expected. Currently, shipping survey agencies indicate that the export data of Malaysian palm oil this month has increased by 4% month-on-month, and as the production season approaches, the supply of palm oil will increase [2]. - **Basis**: The spot price of soybean oil is 8,428, with a basis of 178, indicating that the spot price is higher than the futures price [2]. - **Inventory**: On July 4th, the commercial inventory of soybean oil was 880,000 tons, up 20,000 tons from the previous period and 11.7% higher year-on-year [2]. - **Market**: The futures price is above the 20-day moving average, and the 20-day moving average is upward [2]. - **Main Position**: The long positions of the main soybean oil contract have decreased [2]. - **Expectation**: The soybean oil Y2509 contract is expected to fluctuate in the range of 8,000 - 8,400 [2]. Daily View - Palm Oil - **Fundamentals**: Similar to soybean oil, the MPOB report on Malaysian palm oil is neutral, and the supply is expected to increase in the future [3]. - **Basis**: The spot price of palm oil is 8,888, with a basis of 50, indicating that the spot price is higher than the futures price [3]. - **Inventory**: On July 4th, the port inventory of palm oil was 380,000 tons, down 10,000 tons from the previous period and 34.1% lower year-on-year [3]. - **Market**: The futures price is above the 20-day moving average, and the 20-day moving average is upward [3]. - **Main Position**: The short positions of the main palm oil contract have decreased [3]. - **Expectation**: The palm oil P2509 contract is expected to fluctuate in the range of 8,600 - 9,000 [3]. Daily View - Rapeseed Oil - **Fundamentals**: The same MPOB report on Malaysian palm oil applies, with a neutral outlook and increasing supply [4]. - **Basis**: The spot price of rapeseed oil is 9,623, with a basis of 81, indicating that the spot price is higher than the futures price [4]. - **Inventory**: On July 4th, the commercial inventory of rapeseed oil was 650,000 tons, up 20,000 tons from the previous period and 3.2% higher year-on-year [4]. - **Market**: The futures price is above the 20-day moving average, and the 20-day moving average is upward [4]. - **Main Position**: The short positions of the main rapeseed oil contract have decreased [4]. - **Expectation**: The rapeseed oil OI2509 contract is expected to fluctuate in the range of 9,350 - 9,750 [4]. Recent Bullish and Bearish Analysis - **Bullish Factors**: The US soybean stocks-to-use ratio remains around 4%, indicating tight supply [5]. - **Bearish Factors**: The prices of oils and fats are at a relatively high historical level, and the domestic inventory of oils and fats has been continuously increasing. The macroeconomy is weak, and the expected production of related oils and fats is high [5]. - **Main Logic**: The global fundamentals of oils and fats are relatively loose [5].

1. Report Industry Investment Rating No information about the report industry investment rating is provided in the content. 2. Core Viewpoints of the Report - The overall view is that the short - term trend of Shanghai Zinc ZN2509 is expected to be oscillating and weakening. The previous trading day saw Shanghai Zinc oscillating, with the price closing above the long - term moving average with strong support from the moving average. The short - term indicator KDJ is declining and operating in the weak area, and the trend indicator shows that the bullish force is rising while the bearish force is falling, with the forces of both sides starting to be in a stalemate. [2][19] 3. Summary According to Relevant Catalogs 3.1 Fundamental Analysis - In April 2025, global zinc plate production was 1.153 million tons, consumption was 1.1302 million tons, with a supply surplus of 22,700 tons. From January to April, production was 4.4514 million tons, consumption was 4.5079 million tons, with a supply shortage of 56,500 tons. From January to April, global zinc ore production was 4.0406 million tons, which is considered bullish. [2] - The basis is 15, which is neutral. [2] - On August 4, LME zinc inventory decreased by 3,825 tons to 97,000 tons compared to the previous day, and the SHFE zinc inventory warrant decreased by 75 tons to 14,907 tons, which is considered bullish. [2] - The previous day, Shanghai Zinc showed an oscillating trend, closing below the 20 - day moving average, and the 20 - day moving average was downward, which is considered bearish. [2] - The main positions are net long, with a shift from short to long, which is considered bullish. [2] 3.2 Futures Exchange Zinc Futures Market on August 4 - There are multiple delivery months for zinc futures, such as 2508, 2509, etc. For example, in the 2509 contract, the previous settlement price was 22,345, the opening price was 22,225, the highest price was 22,270, the lowest price was 22,125, the closing price was 22,255, and the settlement reference price was 22,205, with a decline of 90 (first type of change) and 140 (second type of change). The trading volume was 115,733 lots, the trading value was 1,285,092,980 yuan, and the open interest was 102,725 lots, a decrease of 5,359 lots. [3] 3.3 Domestic Spot Market on August 4 - The prices of various zinc - related products showed different changes. For example, the price of zinc concentrate in Linzhou was 16,930 yuan/ton, a decrease of 90 yuan/ton; the price of zinc ingot in Gengshi was 22,240 yuan/ton, a decrease of 110 yuan/ton; the price of galvanized sheet in Tiantian was 4,080 yuan/ton, a decrease of 20 yuan/ton; the price of galvanized pipe in Tiantian was 4,483 yuan/ton, a decrease of 7 yuan/ton; the price of zinc alloy in Ningbo was 22,720 yuan/ton, a decrease of 130 yuan/ton; the price of zinc powder in Changsha was 27,230 yuan/ton, a decrease of 130 yuan/ton. The prices of zinc oxide in Taizhou and secondary zinc oxide in Cailiao remained unchanged at 20,700 yuan/ton and 7,761 yuan/ton respectively. [4] 3.4 National Main Market Zinc Ingot Inventory Statistics (July 24 - August 4, 2025) - The total inventory of zinc ingots in major Chinese markets increased from 80,800 tons on July 24 to 87,200 tons on August 4. Compared with July 28, the inventory increased by 3,600 tons, and compared with July 31, it increased by 2,800 tons. [5] 3.5 Futures Exchange Zinc Warrant Report on August 4 - The total SHFE zinc warrant was 14,907 tons, a decrease of 75 tons compared to the previous day. Different regions had different warrant holdings, such as 25 tons in Shanghai, 3,238 tons in Zhongchu Jingshi in Guangdong, etc. [6] 3.6 LME Zinc Inventory Distribution and Statistics on August 4 - The previous day's inventory was 100,825 tons, with 0 tons received into the warehouse and 3,975 tons withdrawn from the warehouse, resulting in a current inventory of 96,850 tons, a decrease of 3,975 tons. The registered warrants were 57,075 tons, the cancelled warrants were 43,750 tons, and the cancellation ratio was 43.39%. [7] 3.7 National Main City Zinc Concentrate Price Summary on August 4 - The prices of 50% - grade zinc concentrate in major cities showed a decline. For example, the price in Jiyuan, Kunming, etc. was 16,930 yuan/ton, with a decline of 90 yuan/ton. [9] 3.8 National Market Zinc Ingot Smelter Price Quotes on August 4 - The prices of 0 zinc ingot from different smelters all decreased by 130 yuan/ton. For example, the price from Hunan Zhuzhou was 22,530 yuan/ton, from Liaoning Huludao Zinc Industry was 22,670 yuan/ton, etc. [13] 3.9 June 2025 Domestic Refined Zinc Production - The planned production value in June was 459,700 tons, and the actual production was 471,800 tons, with a month - on - month increase of 11.67% and a year - on - year decrease of 2.36%. The production was 2.63% higher than the planned value, and the capacity utilization rate was 87.10%. The planned production in July was 470,300 tons. [15] 3.10 Zinc Concentrate Processing Fee Market on August 4 - The processing fees of 50% - grade zinc concentrate in different regions vary. For example, in Fift 14F, the average processing fee was 3,800 yuan/metal ton, and in some regions, it increased or remained unchanged. The average processing fee for imported 48% - grade zinc concentrate was 70 US dollars/kiloton, an increase of 11 US dollars/kiloton. [17] 3.11 SHFE Member Zinc Trading and Position Ranking Table on August 4 - In the zn2509 contract, in terms of trading volume, CITIC Futures ranked first with 36,893 lots, an increase of 5,050 lots compared to the previous day. In terms of long positions, CITIC Futures ranked first with 8,994 lots, a decrease of 411 lots. In terms of short positions, CITIC Futures also ranked first with 10,617 lots, a decrease of 1,648 lots. [18]