Report Industry Investment Rating No relevant content provided. Core Views of the Report - The short - term exchange rate of the US dollar against the RMB is expected to fluctuate within the range of 7.15 - 7.25. The counter - cyclical factor has been activated, and with the regulatory's expectation management, the RMB's short - term buffer against external shocks has increased [36][39]. Summary by Related Catalogs Quantity and Price Observation - The implied volatility curve of the 3 - month US dollar against the RMB option shows an appreciation trend of the RMB, with the put - end volatility higher than the call - end. The volatility of the US dollar against the RMB option has continued to decline, and the market's expectation of the future volatility of the US dollar against the RMB has weakened [4]. - The term structure shows the changes in the premium and discount of the Singapore Exchange's US dollar against the RMB futures, bank forward premium and discount, and the US - China interest rate spread in different time periods [7][8]. Policy Observation - The policy counter - cyclical factor has been activated, and there are fluctuations in the three - month CNH HIBOR - SHIBOR spread [11]. Macroeconomic Analysis US Economy - There is a differentiation in the pricing of interest rate cuts between the US and Europe. As of August 6, the TGA account was 464.3 billion, and the Fed's reverse repurchase balance was 9.196 billion US dollars. Fed Chairman Powell did not give guidance on a September interest rate cut [19]. - The economic expectation has been revised upwards. In July, non - farm data was significantly revised downwards, inflation rebounded, fiscal spending increased significantly, and the economic situation showed marginal support [21]. - Fiscal spending has rebounded, especially in defense, medical insurance, and healthcare [22]. - The employment market in July was significantly revised downwards. The employment performance of the service sector was better than that of the commodity and government sectors, and the hourly wage in July increased by 0.3% month - on - month [28]. Chinese Economy - There is a situation of strong expectation and weak reality. In July, exports and consumption showed resilience, but inflation has not recovered, and there is pressure on fixed - asset investment [29]. - Exports in July exceeded expectations. Financial data was better than expected, with changes in exports to different regions and products [31]. European Economy - The downside risks have been cleared. Economic data is oscillating at the bottom, with the manufacturing and service PMIs in Europe rebounding in July. Inflation is stable, with the eurozone's CPI in July increasing by 2% year - on - year and the core CPI increasing by 2.3% year - on - year [34]. Scenario Deduction - There are different time - based scenarios including the Fed's policy window period, the destocking cycle, tariff impacts, and domestic policy windows [40][41]. Risk Assessment - The range of basis fluctuations: From the historical data from January 2022 to the present, the range of the premium and discount of the futures main contract is between - 1100 and 900 [45].

Report Industry Investment Rating - Not provided in the content Core Viewpoint - The report presents the trading data of various index options on August 13, 2025, including trading volume, PCR, and VIX, along with their corresponding changes compared to the previous period [1][2][3] Summary by Directory Option Trading Volume - On August 13, 2025, the trading volume of Shanghai Stock Exchange 50 ETF options was 1.5531 million contracts; CSI 300 ETF options (Shanghai) was 1.604 million contracts; CSI 500 ETF options (Shanghai) was 2.1667 million contracts; Shenzhen 100 ETF options was 0.1983 million contracts; ChiNext ETF options was 3.0954 million contracts; Shanghai Stock Exchange 50 index options was 0.0635 million contracts; CSI 300 index options was 0.1689 million contracts; and CSI 1000 options was 0.3967 million contracts [1] Option PCR - The turnover PCR of Shanghai Stock Exchange 50 ETF options was reported at 0.50, with a month - on - month change of - 0.03; the position PCR was 1.05, with a month - on - month change of + 0.00. Similar data is provided for other types of options, showing different changes in turnover PCR and position PCR [2] Option VIX - The VIX of Shanghai Stock Exchange 50 ETF options was reported at 17.58%, with a month - on - month change of + 1.29%. Other options also had their respective VIX values and month - on - month changes, such as the CSI 300 ETF options (Shanghai) with a VIX of 17.77% and a month - on - month change of + 1.54% [3]

Report Industry Investment Rating - The unilateral strategy is rated as neutral [3] Core View - The EG price is fluctuating without a clear driving force. In the spot and futures markets, the closing price of the EG main contract and the spot price in the East China market both decreased slightly. The production profit of ethylene - made EG and coal - made syngas EG increased slightly. The port inventory is expected to continue to accumulate slightly. The domestic supply is on an increasing trend, but overseas device operation is not smooth, and the increase in port inventory is lower than expected. The overall supply - demand contradiction in August is not significant [1][2][3] Summary by Directory Price and Basis - The closing price of the EG main contract was 4,406 yuan/ton, a decrease of 26 yuan/ton (-0.59%) from the previous trading day. The EG spot price in the East China market was 4,488 yuan/ton, a decrease of 18 yuan/ton (-0.40%) from the previous trading day. The EG spot basis in the East China market (based on the 2509 contract) was 76 yuan/ton, unchanged from the previous day [1] Production Profit and Operating Rate - The production profit of ethylene - made EG was - 46 US dollars/ton, an increase of 3 US dollars/ton from the previous day. The production profit of coal - made syngas EG was - 30 yuan/ton, an increase of 3 yuan/ton from the previous day. Domestically, the load of ethylene glycol syngas production has returned to a high level and can be further increased under favorable conditions. Non - coal EO - EG co - production devices have actions/plans to switch from EO to EG, with a moderately high overall load [1][2] International Price Difference - No specific data or analysis on international price differences are provided in the given text Downstream Production, Sales and Operating Rate - In July, the terminal conducted centralized restocking, and the inventory pressure of filament was greatly relieved. It is expected that the polyester load will remain stable in the short term. Attention should be paid to the order connection in August [2] Inventory Data - According to CCF data, the MEG inventory in the main ports of East China was 55.3 tons, an increase of 3.7 tons from the previous period. According to Longzhong data, it was 48.6 tons, an increase of 5.9 tons from the previous period. The total actual arrival at the main ports last week was 9.6 tons, and the port inventory increased slightly. The planned arrival at the East China main ports this week is 14.1 tons, and it is expected that the main ports will continue to accumulate inventory slightly. The balance sheet in August shows a slight inventory accumulation, but the increase in port inventory lacks sustainability [1][2]

Group 1: Report Industry Investment Rating - No relevant content Group 2: Core View of the Report - The short - term disk of lithium carbonate fluctuates greatly, but the spot transaction has improved. Supply has shrunk, consumption has increased month - on - month, and there is also uncertainty in other lithium ore supplies. The subsequent start - up situation of the ore end needs attention. The lithium ore approval issue remains uncertain, and the recent market may still fluctuate [1][3] Group 3: Summary According to Related Catalogs Market Analysis - On August 13, 2025, the lithium carbonate main contract 2511 opened at 83,000 yuan/ton and closed at 85,100 yuan/ton, with a - 0.61% change in the closing price compared to the previous settlement price. The trading volume was 1,245,424 lots, and the open interest was 392,675 lots. The previous day's open interest was 356,998 lots. The current basis was - 3,360 yuan/ton. The lithium carbonate warehouse receipts were 21,679 lots, an increase of 850 lots from the previous trading day [2] - According to SMM data, the price of battery - grade lithium carbonate was 79,000 - 83,000 yuan/ton, an increase of 3,000 yuan/ton from the previous trading day. The price of industrial - grade lithium carbonate was 78,100 - 79,500 yuan/ton, also an increase of 3,000 yuan/ton. The price of 6% lithium concentrate was 970 US dollars/ton, an increase of 30 US dollars/ton. Due to the rigid demand of some downstream enterprises and the reluctance of upstream and traders to sell, the transaction price of lithium carbonate spot has continued to rise significantly [2] Strategy - Supply has shrunk, consumption has increased month - on - month, and there is uncertainty in other lithium ore supplies. Attention should be paid to the subsequent start - up of the ore end. The lithium ore approval issue remains uncertain, and the recent market may fluctuate. Participants need to manage risks [3] Hedging Strategy - Unilateral: Buy on dips for hedging; No strategies for inter - period, cross - variety, spot - futures, and options [5]

Report Industry Investment Rating No relevant content provided. Core Viewpoints - The freight rate is in a downward cycle, and attention should be paid to the recent PSS adjustment of Maersk. The 8 - month contract freight rate has reached its peak and is continuously declining, and the final delivery settlement price is estimated to be around 2100 points. The 10 - month contract is mainly for short - allocation, and the focus is on the downward slope of the freight rate. The 12 - month contract still follows the off - peak and peak season pattern, but the risk lies in whether the Suez Canal will reopen. The main contract is expected to fluctuate weakly, and it is advisable to go short on the 10 - month contract when the price is high [1][2][3][4]. Summary by Directory 1. Market Analysis - Online quotes: Different shipping companies have different price quotes for Shanghai - Rotterdam and Shanghai - London routes. For example, Maersk's Shanghai - Rotterdam price in week 35 has risen from 1320/2200 to 1390/2340, and Shanghai - London has risen from 1380/2300 to 1415/2370. HPL's quotes for different periods in August and September are stable at 1535/2435 [1]. - Geopolitical factor: China's Deputy Permanent Representative to the United Nations emphasized the need to maintain the safety of the Red Sea shipping route and promote the political settlement of the Yemen issue [1]. 2. Shipping Capacity - Weekly and monthly average shipping capacity: In August, the remaining 4 - week average weekly capacity to European base ports from China is 308,700 TEU. In September, the monthly average weekly capacity is 302,800 TEU, and in October, it is 286,800 TEU. There are empty sailings and TBNs in August and September, and there are many additional ships in August [2]. 3. Contract Analysis - 8 - month contract: The freight rate has reached its peak and is continuously declining. The delivery settlement price is the arithmetic average of SCFIS on August 11, 18, and 25. The final delivery settlement price is estimated to be around 2100 points [2]. - 10 - month contract: It is mainly for short - allocation. Normal years see a 20% - 30% lower price in October compared to August. Attention should be paid to the price - following situation of other shipping companies after Maersk's week 35 freight rate drops to $2200/FEU. The two additional ships announced by HPL in October may put pressure on the spot price. In the context of a large discount, it is relatively safe to go short on the EC2510 contract when the price is high, but do not chase short excessively [3][4]. - 12 - month contract: In the fourth quarter, due to Western holidays and the need for shipping companies to prepare for the next - year long - term contract negotiation, the freight rate is usually at a high level. The risk lies in whether the Suez Canal will reopen. If it reopens, the seasonal pattern of off - peak and peak seasons may be challenged [4]. 4. Futures and Spot Prices - Futures: As of August 13, 2025, the total open interest of all container shipping index European line futures contracts is 85,722 lots, and the single - day trading volume is 78,305 lots. The closing prices of different contracts are provided [5]. - Spot: On August 8, the SCFI (Shanghai - Europe route) price is $1961/TEU, SCFI (Shanghai - US West route) is $1823/FEU, and SCFI (Shanghai - US East) is $2792/FEU. On August 11, the SCFIS (Shanghai - Europe) is 2235.48 points, and SCFIS (Shanghai - US West) is 1082.14 points [5]. 5. Container Ship Delivery - In 2025, it is still a big year for container ship delivery. As of now, 157 container ships have been delivered, with a total capacity of 1.2513 million TEU. As of July 27, 2025, 49 ships with a capacity of 12,000 - 16,999 TEU have been delivered, with a total capacity of 737,300 TEU, and 7 ships with a capacity of over 17,000 TEU have been delivered, with a total capacity of 159,880 TEU [5]. 6. Strategy - Unilateral: The main contract is expected to fluctuate weakly. - Arbitrage: Go short on the 10 - month contract when the price is high [6].

Report Summary 1. Industry Investment Rating - No industry investment rating is provided in the report. 2. Core View - The report indicates that the spread between high - and low - sulfur fuel oils has been oscillating and strengthening, but its upward space is likely limited. In the current environment where high - sulfur fuel oil is stabilizing and low - sulfur fuel oil lacks driving forces, the LU - FU spread does not have the room for significant upward movement [1][2]. 3. Summary by Related Content Market Analysis - The main contract of SHFE fuel oil futures closed down 1.41% at 2,730 yuan/ton, and the main contract of INE low - sulfur fuel oil futures closed down 1.03% at 3,463 yuan/ton. The crude oil price continued its weak oscillating trend, with a bearish cost - side guidance, causing the FU and LU futures to decline. The short - term uncertainty lies in the outcome of the Russia - US summit on the 15th, as the US's attitude towards sanctions on Russia will affect market sentiment [1]. - For the high - sulfur fuel oil market, after continuous adjustments to the market structure, short - term contradictions are relatively limited. The spot premium and monthly spread of the overseas market show signs of stabilizing but lack obvious strengthening drivers. The spot supply is still abundant, and the demand side lacks growth momentum, with high inventories in the Asia - Pacific region. In the long - run trend of crude oil lightening and refinery equipment upgrading, there is still structural support. If the crack spread adjusts sufficiently to attract a significant rebound in refinery demand, the market structure may strengthen again, but in the short term, the previously accumulated inventory still needs to be digested [1]. - Regarding low - sulfur fuel oil, the current market pressure is limited, but there is no overall shortage expectation. On one hand, domestic production remains low, and the supply in the bonded area is relatively tight. On the other hand, after the tension in overseas diesel eases, the supply of blending components is expected to increase marginally. In the medium - term perspective, due to the relatively abundant remaining production capacity of low - sulfur fuel oil, once the crack profit is appropriate, it will attract supply release. Moreover, the carbon - neutral trend in the shipping industry will gradually replace the market share of low - sulfur fuel oil, and there is significant resistance above the market [1]. Strategy - High - sulfur fuel oil: The trend is expected to be oscillating and weakening [3]. - Low - sulfur fuel oil: The trend is expected to be oscillating and weakening [3]. - Cross - variety: No strategy is provided [3]. - Cross - period: No strategy is provided [3]. - Spot - futures: No strategy is provided [3]. - Options: No strategy is provided [3].

1. Report Industry Investment Ratings - Aluminum: Neutral [10] - Alumina: Cautiously bearish [10] - Aluminum alloy: Neutral [10] 2. Core Views of the Report - The overall commodity prices fluctuate sharply, while aluminum prices fluctuate relatively less. During the seasonal consumption off - season, aluminum prices maintain a volatile trend. With the social inventory increasing and the inventory accumulation of aluminum rods slowing down, the aluminum price has limited downside space without macro - negative disturbances. The consumption peak season is worth looking forward to, and if it materializes, it will drive up the aluminum price [6]. - Alumina prices are highly volatile due to capital speculation. The political situation in Guinea is tense, but currently, there is no impact on mining and shipping. The alumina market remains in an oversupply situation, and it is too early for market - based capacity clearance [7][8]. - Aluminum alloy is in the consumption off - season. The futures price fluctuates with the aluminum price. The supply of scrap aluminum and primary aluminum is tight, and the cost side supports the price. Attention should be paid to cross - variety arbitrage opportunities [9]. 3. Summary by Related Catalogs 3.1 Important Data 3.1.1 Aluminum Spot - East China A00 aluminum price is 20,760 yuan/ton, with a change of 120 yuan/ton from the previous trading day. The spot premium/discount is - 20 yuan/ton, with a change of 10 yuan/ton [1]. - Central China A00 aluminum price is 20,650 yuan/ton, and the spot premium/discount is - 130 yuan/ton, with no change from the previous trading day [1]. - Foshan A00 aluminum price is 20,710 yuan/ton, with a change of 100 yuan/ton from the previous trading day. The aluminum spot premium/discount is - 70 yuan/ton, with a change of - 15 yuan/ton [1]. 3.1.2 Aluminum Futures - On August 13, 2025, the opening price of the main SHFE aluminum contract is 20,770 yuan/ton, the closing price is 20,790 yuan/ton, with a change of 130 yuan/ton from the previous trading day. The highest price is 20,855 yuan/ton, and the lowest price is 20,755 yuan/ton. The trading volume is 82,078 lots, and the open interest is 216,466 lots [2]. 3.1.3 Inventory - As of August 13, 2025, the domestic social inventory of electrolytic aluminum ingots is 587,000 tons, with a change of 2.3 tons from the previous period. The warrant inventory is 55,116 tons, with a change of 6,406 tons from the previous trading day. The LME aluminum inventory is 478,625 tons, with a change of 1,525 tons from the previous trading day [2]. 3.1.4 Alumina Spot Price - On August 13, 2025, the SMM alumina price in Shanxi is 3,240 yuan/ton, in Shandong is 3,220 yuan/ton, in Henan is 3,240 yuan/ton, in Guangxi is 3,315 yuan/ton, in Guizhou is 3,330 yuan/ton, and the FOB price of Australian alumina is 370 US dollars/ton [2]. 3.1.5 Alumina Futures - On August 13, 2025, the opening price of the main alumina contract is 3,301 yuan/ton, the closing price is 3,230 yuan/ton, with a change of - 30 yuan/ton (- 0.92%) from the previous trading day's closing price. The highest price is 3,321 yuan/ton, and the lowest price is 3,221 yuan/ton. The trading volume is 170,742 lots, and the open interest is 89,264 lots [2]. 3.1.6 Aluminum Alloy Price - On August 13, 2025, the purchase price of Baotai civil primary aluminum is 15,500 yuan/ton, and the purchase price of mechanical primary aluminum is 15,600 yuan/ton, with a change of 100 yuan/ton from the previous day. The Baotai quotation of ADC12 is 19,900 yuan/ton, with a change of 100 yuan/ton from the previous day [3]. 3.1.7 Aluminum Alloy Inventory - The social inventory of aluminum alloy is 48,400 tons, and the in - plant inventory is 60,700 tons [4]. 3.1.8 Aluminum Alloy Cost and Profit - The theoretical total cost is 20,065 yuan/ton, and the theoretical profit is - 165 yuan/ton [5]. 3.2 Market Analysis 3.2.1 Electrolytic Aluminum - Aluminum prices fluctuate relatively less. During the seasonal consumption off - season, the prices maintain a volatile trend. The social inventory increases continuously, but the inventory accumulation of aluminum rods slows down. There is no upward driving force currently, but the downside space is limited without macro - negative disturbances. The consumption peak season is worth looking forward to, and if it materializes, it will drive up the aluminum price [6]. 3.2.2 Alumina - Alumina prices fluctuate greatly due to capital speculation. The political situation in Guinea is tense, but currently, there is no impact on mining and shipping. The alumina market remains in an oversupply situation, and it is too early for market - based capacity clearance [7][8]. 3.2.3 Aluminum Alloy - Aluminum alloy is in the consumption off - season. The futures price fluctuates with the aluminum price. The supply of scrap aluminum and primary aluminum is tight, and the cost side supports the price. The spread between AD2511 - AL2511 contracts is - 525 yuan/ton. Attention should be paid to cross - variety arbitrage opportunities [9]. 3.3 Strategy 3.3.1 Unilateral - Aluminum: Neutral; Alumina: Cautiously bearish; Aluminum alloy: Neutral [10]. 3.3.2 Arbitrage - SHFE aluminum positive arbitrage; Long AD11 and short AL11 [10].

Report Industry Investment Rating - No relevant information provided Core Viewpoints - The July financial data shows significant fiscal support, with 188 billion yuan in investment subsidies for equipment renewal under the 2025 ultra - long - term special treasury bonds, driving over 1 trillion yuan in total investment in various fields [1] - In July 2025, M2 balance was 329.94 trillion yuan, a year - on - year increase of 8.8%; M1 balance was 111.06 trillion yuan, a year - on - year increase of 5.6%. Net capital injection in the first seven months was 465.1 billion yuan, RMB loans increased by 12.87 trillion yuan, and deposits increased by 18.44 trillion yuan. The social financing scale stock at the end of July was 431.26 trillion yuan, a year - on - year increase of 9% [1] Summary by Directory Upstream - In the energy sector, international oil prices continued to decline; in the agricultural sector, egg and palm oil prices rebounded [2] Midstream - In the agricultural sector, the operating rate of pig products continued to rise [3] Downstream - In the real estate sector, the sales of commercial housing in first - and second - tier cities declined seasonally and were at a near - three - year low; in the service sector, the popularity of movies decreased and box office revenue declined [4] Industry Credit Spread Tracking - The report provides the credit spreads of various industries such as agriculture, forestry, animal husbandry and fishery, mining, and chemical industry, showing their data from last year to this week and their quantiles [48] Key Industry Price Index Tracking - It includes price data of multiple industries such as agriculture, non - ferrous metals, energy, and chemicals, along with their year - on - year changes and trends in the past 5 days [49]

1. Report Industry Investment Rating - Unilateral: Neutral; Cross - period: 09 - 01 reverse spread; Cross - variety: None [3] 2. Core View of the Report - The market trading atmosphere has weakened. After a slight price increase in some areas, the trading volume is average. The downstream agricultural demand has entered the off - season, and the industrial demand is weak due to the impact of the military parade. The urea production is at a high level, and the upstream inventory is still relatively high year - on - year. With the release of new production capacity, the future supply - demand of urea remains loose. The profit of coal - based urea is acceptable, but the cost - side support is weak. August is the export window period, and the urea export continues with narrow fluctuations in port inventory. The Indian IPL urea import tender has a confirmed winning bid of 207.5 tons. Follow - up attention should be paid to the changes in export dynamics [2] 3. Summary According to the Directory 3.1 Urea Basis Structure - On August 13, 2025, the urea main contract closed at 1726 yuan/ton (-1); the ex - factory price of small - sized urea in Henan was 1740 yuan/ton (0); in Shandong, it was 1730 yuan/ton (+10); in Jiangsu, it was 1730 yuan/ton (+0). The basis in Shandong was 4 yuan/ton (+11); in Henan, it was 14 yuan/ton (+11); in Jiangsu, it was 4 yuan/ton (+1) [1] 3.2 Urea Production - As of August 13, 2025, the enterprise capacity utilization rate was 81.98% (0.08%), and the total inventory of sample enterprises was 95.74 tons (+6.98) [1] 3.3 Urea Production Profit and Operating Rate - The urea production profit was 200 yuan/ton (+10) [1] 3.4 Urea Overseas Price and Export Profit - The export profit was 1377 yuan/ton (+12). The Indian IPL urea import tender had a confirmed winning bid of 207.5 tons, with 103.5 tons on the east coast at CFR 532 US dollars/ton and 104 tons on the west coast at CFR 530 US dollars/ton [1][2] 3.5 Urea Downstream Operating Rate and Orders - As of August 13, 2025, the capacity utilization rate of compound fertilizer was 41.50% (+2.82%); the capacity utilization rate of melamine was 61.10% (-2.40%); the advance order days of urea enterprises were 6.29 days (-0.24) [1] 3.6 Urea Inventory and Warehouse Receipts - As of August 13, 2025, the total inventory of sample enterprises was 95.74 tons (+6.98), and the port sample inventory was 48.30 tons (-1.00) [1]

1. Report Industry Investment Rating - Not provided 2. Core View of the Report - The report presents the market liquidity situation on August 13, 2025, including the trading volume, holding amount, trading - holding ratio, and their changes compared with the previous trading day for different sectors such as the stock index, treasury bond, basic metal, precious metal, energy and chemical, agricultural product, and black building materials sectors [1][2] 3. Summary by Relevant Catalogs 3.1 Plate Liquidity - The report shows the trading - holding ratio, trading volume change rate, holding amount, and trading volume of each sector through multiple figures, including Figures 1 - 6 [5] 3.2 Stock Index Plate - On August 13, 2025, the trading volume of the stock index plate was 668.71 billion yuan, a +30.13% change from the previous trading day; the holding amount was 1219.813 billion yuan, a +8.23% change; the trading - holding ratio was 54.95%. Multiple figures show details such as the rise - fall ratio, trading - holding ratio, and precipitation fund changes of each variety in the stock index plate [1][5] 3.3 Treasury Bond Plate - The trading volume of the treasury bond plate was 499.098 billion yuan, a +5.98% change from the previous trading day; the holding amount was 835.561 billion yuan, a - 0.77% change; the trading - holding ratio was 60.15%. Figures show the rise - fall ratio, trading - holding ratio, and other information of each variety in the treasury bond plate [1][5] 3.4 Basic Metal and Precious Metal (Metal Plate) - The trading volume of the basic metal plate was 430.283 billion yuan, a - 14.63% change from the previous trading day; the holding amount was 518.365 billion yuan, a +1.54% change; the trading - holding ratio was 107.27%. The trading volume of the precious metal plate was 297.52 billion yuan, a +19.12% change; the holding amount was 439.177 billion yuan, a +0.71% change; the trading - holding ratio was 75.21%. Figures show the rise - fall ratio, trading - holding ratio, and other details of each variety in the metal plate [1][5] 3.5 Energy and Chemical Plate - The trading volume of the energy and chemical plate was 429.078 billion yuan, a - 7.55% change from the previous trading day; the holding amount was 430.654 billion yuan, a +0.49% change; the trading - holding ratio was 90.05%. Figures show information such as the rise - fall ratio and trading - holding ratio of the main varieties in the energy and chemical plate [1][5] 3.6 Agricultural Product Plate - The trading volume of the agricultural product plate was 563.452 billion yuan, a +39.88% change from the previous trading day; the holding amount was 619.387 billion yuan, a +2.66% change; the trading - holding ratio was 83.07%. Figures present details such as the rise - fall ratio and trading - holding ratio of the main varieties in the agricultural product plate [1][5] 3.7 Black Building Materials Plate - The trading volume of the black building materials plate was 475.371 billion yuan, a +2.79% change from the previous trading day; the holding amount was 416.192 billion yuan, a - 0.87% change; the trading - holding ratio was 100.57%. Figures show the rise - fall ratio, trading - holding ratio, and other information of each variety in the black building materials plate [2][5]