原油周报：高波动&宽震荡 研究员：赵若晨 期货从业证号：F03151390 投资咨询证号：Z0023496 目录 第一章 综合分析与交易策略 2 第二章 核心逻辑分析 4 | | | GALAXY FUTURES 1 227/82/4 228/210/172 181/181/181 87/87/87 文 字 色 基 础 色 辅 助 色 137/137/137 246/206/207 68/84/105 210/10/16 221/221/221 208/218/234 综合分析与交易策略 【综合分析】 本周国际原油市场呈现高波动、宽幅震荡特征，主要受美伊地缘政治谈判反复主导，叠加宏观需求担忧与供应面 信号，油价整体先跌后反弹，但周线仍录得下跌，终结此前连续上涨势头。后期来看，地缘仍然是短期内交易重 点，美国-伊朗谈判短时间达成初步共识的可能性较小，后期来看，若谈判实质进展，风险溢价快速消退，油价易 进一步下探60-62美元区间；若局势再度紧张或破裂，价格可能快速上冲68-70美元上方，美国伊朗谈判的具体分 析，可关注《美伊百年恩怨与当下博弈——历史、谈判与全球能源风险全解析》专题报告。 【策略】 单边：宽幅震 ...

目录 LPG液化气周报：重点关注美伊谈判 研究员：赵若晨 期货从业证号：F03151390 投资咨询证号：Z0023496 第一章 综合分析与交易策略 2 第二章 核心逻辑分析 4 | | | GALAXY FUTURES 1 227/82/4 228/210/172 181/181/181 文 字 色 基 础 色 辅 助 色 137/137/137 246/206/207 68/84/105 210/10/16 221/221/221 87/87/87 【策略】 单边：宽幅震荡。 套利：观望。 期权：观望。(观点仅供参考，不作为买卖依据) 208/218/234 综合分析与交易策略 【综合分析】 本周液化气在前期一波下跌后区间震荡。海外市场来看，中东货源仍然持续偏紧，3月沙特CP价格再次上行，叠加伊 朗局势的不明朗，中东价格仍然居高不下。欧美方面，寒潮导致美国丙烷持续去库，前期价格在天然气的带领下驱动上 行，但供应充足。国内方面，供应端虽到港量偏少，但是炼厂外放气增加；需求端，燃烧需求仍在旺季，但化工需求方 面偏弱，由于进口价格较高，利润较差，PDH开工率较历史同期低位。 后市来看，炼厂外放气或有小幅下降， ...

目录 第一部分 周度核心要点分析及策略推荐 2 第二部分 周度数据追踪 5 GALAXY FUTURES 1 股指期货周报：市场降温 股指震荡 研究员：孙锋 期货从业证号：F0211891 投资咨询证号：Z0000567 周末要闻 GALAXY FUTURES 2 国务院总理李强2月6日主持召开国务院第十次全体会议，讨论拟提请十四届全国人大四次会议审议的政府工作报 告稿和"十五五"规划纲要草案稿。李强指出，深入谋划实施一批重大举措、重大项目，特别是要在发展新质生产 力、做强国内大循环、促进居民增收等方面取得更大突破。 央行等八部门联合发布《关于进一步防范和处置虚拟货币等相关风险的通知》。《通知》重申境内对虚拟货币坚持 禁止性政策，明确虚拟货币不具有法定货币地位，相关业务活动属于非法金融活动。同时，重申境内对于虚拟货币 "挖矿"的禁止性政策等。《通知》还强调，未经相关部门依法依规同意，境内主体及其控制的境外主体不得在境 外发行虚拟货币。 特斯拉副总裁陶琳昨日表示，针对中国辅助驾驶和AI应用场景，特斯拉在中国已自主投入并使用了一家AI训练中心， 从而进行特斯拉AI在中国的本地训练能力部署。 英伟达首席执行官黄仁勋 ...

Report Title - Copper Weekly Report: Short - term High - level Consolidation, Prudent Operation Before the Festival [1] 1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints - Short - term bullish sentiment has weakened, and the market is volatile due to capital and sentiment. However, the main bullish logic remains unchanged, and the long - term upward trend continues. Near the Spring Festival, it is recommended to control positions and operate prudently [5] 3. Summary by Directory 3.1 Comprehensive Analysis and Trading Strategies - **Macro - aspect**: Trump's nomination of Warsh as the Fed Chairman led the market to pre - trade Warsh's hawkish policies. The sell - off in US software stocks spread to the entire technology sector, and multiple factors intensified the decline in precious metals and non - ferrous metals [6] - **Copper Ore**: Trump plans to invest $12 billion in key mineral reserves. China aims to improve the copper resource reserve system. The strike at Mantoverde copper - gold mine in Chile ended, and normal production is expected to resume [6] - **Scrap Copper**: Domestic policies related to recycled copper have tightened, and some supply enterprises will be on holiday during the Spring Festival, so the supply of scrap - produced blister copper and anode plates is expected to decline [6] - **Refined Copper**: In January, SMM China's electrolytic copper production was 1.1793 million tons, with a slight increase. SMM expects a decline in February. As of February 5, domestic mainstream copper inventories increased, while bonded - area inventories decreased. LME inventories are expected to continue to accumulate [6] - **Consumption**: After the copper price correction, downstream procurement enthusiasm increased, but it is expected to weaken next week as the Spring Festival approaches [6] - **Spread and Ratio**: LME inventories are continuously accumulating, the domestic import window is periodically opened, and the spread and premium are expected to remain in a discount state [6] 3.2 Domestic and Overseas Price Trends - The report shows the price trends of Shanghai Copper Main Contract and LME 3 - Month Copper, and lists important events affecting copper prices such as processing fee drops, trade investigations, and production plan adjustments from 2025 - 2026 [8][9] 3.3 Copper Fundamental Analysis and Weekly Data Tracking - **Copper Concentrate Market**: On February 6, the SMM imported copper concentrate index decreased. In 2025, China's copper concentrate imports increased. The production of major copper - producing countries such as Peru and Chile showed different trends [19][25][28] - **Scrap Copper Market**: As of this Friday, the refined - scrap spread is 3,127 yuan/ton. The operating rate of recycled copper rods increased slightly. In 2025, the supply of domestic scrap copper increased, and the import of scrap copper also showed an upward trend [34][39] - **Blister Copper Market**: In October 2025, blister copper production increased year - on - year. The import of anode copper decreased in 2025. The average processing fee for southern blister copper increased this week [41][44] - **Domestic Copper Supply**: In January, SMM China's electrolytic copper production increased slightly. SMM expects a decline in February. In 2025, the import of refined copper decreased, and the export increased [46][49] - **Copper Products Operating Rate**: The overall copper products operating rate showed a mixed trend. Some industries' operating rates increased due to pre - holiday stocking and price corrections, while others are expected to decline in February [51][60][66] - **Downstream Consumption**: - **Air - conditioning Consumption**: In December 2025, China's household air - conditioning market did not meet expectations. The production and sales of air - conditioners decreased year - on - year. The production schedule for 2026 shows different trends in domestic and export sales [71] - **Automobile Consumption**: In 2025, the production and sales of automobiles and new - energy vehicles increased. It is predicted that the total automobile sales in 2026 will increase slightly, and new - energy vehicle sales are expected to grow by 15.2% [75] - **Grid Investment**: In 2025, China's grid investment increased year - on - year, while the power source project investment decreased. The State Grid's fixed - asset investment during the "15th Five - Year Plan" period is expected to reach 4 trillion yuan [78] - **Real Estate Market**: In 2025, the national commercial housing sales area and housing completion area decreased year - on - year [83] - **Overseas Data**: The report shows the data of US new housing sales, new private residential starts, automobile sales, and European passenger car registrations [86] - **Photovoltaic and Wind Power**: In 2025, China's new photovoltaic and wind power installations increased year - on - year. The China Photovoltaic Industry Association predicts different growth trends for future photovoltaic installations [89] - **Global New - energy Vehicle Sales**: In 2025, the production and sales of new - energy vehicles increased. In December, global new - energy vehicle sales increased year - on - year, while US new - energy vehicle sales decreased slightly [91][95] 3.4 Industry News and Macroeconomic Data - Trump nominated Warsh as the Fed Chairman, and the US Senate passed a $1.2 trillion government spending bill. Southern Copper Corp. expects a decline in copper production in the next two years. The US ISM manufacturing PMI index rose significantly in January, and there are also other important industry and macro news [96]

节前资金离场规避长假风险 研究员：陈婧 FRM 期货从业证号：F03107034 投资咨询资格证号：Z0018401 目录 第一章 需求分析 4 第二章 供应分析 8 第三章 供需平衡及库存 11 GALAXY FUTURES 1 碳酸锂后市行情展望 综合分析 行情展望及策略推荐： GALAXY FUTURES 3 1.1.1 新能源汽车——淡季来临但好于预期 单位：万辆 单位：万辆 左轴：万辆 右轴：% 单位：GWh 新能源汽车销量结构 中国动力电芯产量 0 50 100 150 200 2022 2023 2024 2025 50% 60% 70% 80% 90% 0 50 100 150 200 Jan-21 May-21 Sep-21 Jan-22 May-22 Sep-22 Jan-23 May-23 Sep-23 Jan-24 May-24 Sep-24 Jan-25 May-25 Sep-25 纯电动 插混 纯电动占比 中国新能源汽车销量 中国新能源乘用车零售 0 50 100 150 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2022 20 ...

节前降温不改底部抬升 研究员：陈婧 FRM 期货从业证号：F03107034 投资咨询资格证号：Z0018401 目录 第一章 价差追踪与库存 4 第二章 基本面分析 8 GALAXY FUTURES 1 镍交易逻辑及策略 综合分析 交易逻辑及策略 GALAXY FUTURES 2 宏观方面：贵金属下跌带动有色板块情绪降温，资金规避长假突发事件，顺势离场释放高位风险。有色金 属普跌，直至周五略有企稳迹象。 产业方面：印尼镍矿配额尚未落地，传闻有多家头部外资企业配额大幅削减，但被官方辟谣。而镍矿内贸 升水保持高位，意味着流通偏紧，矿山惜售。镍矿对后续环节的成本支撑初现。精炼镍1-2月供需过剩显著， 体现在国内大幅累库。但与弱现实相对的是市场对远月供应不确定性的担忧以及有色板块金融属性的提升。 期货方面：节前物流逐渐停运，为规避长假外盘风险，建议节前多看少动，收缩敞口，规避短期情绪冲击。 等待高位风险释放完毕，价格企稳，仍可考虑轻仓试多。 单边：节前收缩敞口，回调企稳后轻仓试多。 期权：卖出虚值看跌期权。 不锈钢交易逻辑及策略 综合分析 交易逻辑及策略 单边：节前收缩敞口，回调企稳后轻仓试多。 套利：暂时观望。 ...

Report Industry Investment Rating There is no information provided in the report regarding the industry investment rating. Core Viewpoints of the Report - In the polysilicon market, Tongwei Co., Ltd. has fully shut down its polysilicon production capacity, and GCL Technology has cut production, leading to a reduction in February's polysilicon output to around 80,000 tons. The boost from export rush to downstream operating rates fell short of expectations, but at the current silicon wafer operating rate, a monthly output of around 46GW can theoretically lead to polysilicon inventory reduction. From late December to January, there were basically no bulk transactions in the polysilicon spot market, and manufacturers' inventories have significantly accumulated to 340,000 tons. Anti - involution policies are expected to continue, with a greater emphasis on market - oriented principles in the future. Currently, the polysilicon spot market is under great pressure, and if some manufacturers significantly cut prices, the spot price may drop to near the cost line of each company. It is recommended to wait and see before the Spring Festival and pay attention to the spot price after the festival [4]. - In the industrial silicon market, this week, the weekly output of DMC decreased by 1.90% to 41,300 tons, the weekly output of polysilicon decreased by 0.05% to 19,200 tons, the operating rate of primary aluminum alloy decreased by 0.9 percentage points to 57.9%, and the operating rate of recycled aluminum alloy decreased by 1 percentage point to 58.3%. The weekly output of industrial silicon decreased by 14.05% to 63,200 tons, and the total number of open furnaces decreased by 34 to 184. The social inventory of industrial silicon increased by 0.8 tons to 562,000 tons, the inventory of sample enterprises in Xinjiang, Yunnan, and Sichuan decreased by 0.3 tons to 208,700 tons, and the downstream raw material inventory increased by 0.02 tons to 238,400 tons. Due to major manufacturers' planned production cuts and the increased production - cut expectations of silicone enterprises after a meeting last week, combined with a bearish commodity market atmosphere, the industrial silicon futures prices dropped significantly. Currently, the basis is at a relatively high level, and manufacturers are not willing to cut prices. The futures price is undervalued, but considering the approaching Spring Festival, it is possible for the futures price to further decline and then undergo re - valuation. It is recommended to reduce long positions and wait for the market to stabilize [6]. Summary According to the Table of Contents Chapter 1: Comprehensive Analysis and Trading Strategies Polysilicon - **Supply and Demand**: Tongwei's full - scale shutdown and GCL's production cut led to a reduction in February's output to around 80,000 tons. There was basically no bulk trading in the spot market from late December to January, and inventories reached 340,000 tons. At the current silicon wafer operating rate, a monthly output of 46GW can lead to theoretical inventory reduction [4]. - **Market Policy**: Anti - involution policies will continue, with more emphasis on market - oriented principles in the future. Measures such as state reserves and selling at no less than cost may continue, while manufacturers' joint price - holding actions have been cancelled [4]. - **Trading Strategy**: It is recommended to wait and see before the Spring Festival. After the festival, if the spot price drops to near the previous low, consider lightly increasing long positions or buying call options. The bottom of the spot price can be referred to the range of (45,000, 46,000) [4][5]. Industrial Silicon - **Supply and Demand**: This week, the output of downstream products decreased, and the output and the number of open furnaces of industrial silicon also decreased. The social inventory increased, the inventory of sample enterprises decreased slightly, and the downstream raw material inventory increased slightly [6][15][19][25]. - **Trading Logic**: Due to production cuts and a bearish market atmosphere, the futures price dropped significantly. The basis is high, and manufacturers are reluctant to cut prices. The futures price is undervalued, but there is a possibility of further decline and re - valuation before the Spring Festival [6]. - **Trading Strategy**: Reduce long positions and wait for the market to stabilize. The operating range of the futures price can be referred to (8,200, 9,100) [6][7]. Chapter 2: Industrial Silicon Fundamental Data Tracking - **Market Performance**: This week, industrial silicon futures prices broke through support levels and declined, while spot prices remained stable. The basis strengthened [12]. - **Downstream Demand**: The weekly output of DMC decreased by 1.90%, the weekly output of polysilicon decreased by 0.05%, the operating rate of primary aluminum alloy decreased by 0.9 percentage points, and the operating rate of recycled aluminum alloy decreased by 1 percentage point [15]. - **Industrial Silicon Production**: The weekly output decreased by 14.05% to 63,200 tons, and the total number of open furnaces decreased by 34 to 184. Major manufacturers cut production as planned, and the operating rates of other manufacturers remained stable for the time being [19]. - **Inventory**: The social inventory increased by 0.8 tons to 562,000 tons, the inventory of sample enterprises in Xinjiang, Yunnan, and Sichuan decreased by 0.3 tons to 208,700 tons, and the downstream raw material inventory increased by 0.02 tons to 238,400 tons [25]. - **Product Prices**: This week, industrial silicon spot prices remained stable, as did DMC and terminal product prices [30][35]. - **Intermediate and Downstream Industry Data**: The operating rate of silicone intermediates decreased slightly, the price of aluminum alloy increased, and the operating rate increased slightly. The price of industrial silicon raw materials remained stable [41][45][48]. Chapter 3: Polysilicon Fundamental Data Tracking - **Price Trends**: This week, the prices of silicon wafers and distributed components decreased, while the prices of batteries, polysilicon, and centralized components increased [52]. - **Component Data**: Due to the previous sharp increase in silver prices, the cost of photovoltaic components increased significantly, and the economic viability of export rush was hindered. Although the silver price has recently declined, the component production schedule is still at a low level due to the short export - rush window period around the Spring Festival. It is expected that the photovoltaic component production schedule in February will be 30GW. The European photovoltaic component inventory is 34.2GW, and the domestic manufacturers' component inventory is 26.1GW, both at a relatively low - to - neutral level [61]. - **Battery Data**: The export tax refund for photovoltaic batteries will be reduced and cancelled in 2027. The incremental demand for battery export rush may be less than that of components. It is expected that the photovoltaic battery production schedule in February will be adjusted down to around 35GW [62]. - **Silicon Wafer Data**: The silicon wafer inventory has increased to 28.32GW. The export tax refund for silicon wafers will be cancelled simultaneously with that of components, and there is still demand for silicon wafer export rush. The silicon wafer production schedule in February will remain flat at 46GW compared to the previous month [68]. - **Polysilicon Data**: This week, the polysilicon output decreased slightly, and the factory inventory increased to 340,000 tons. GCL Technology reduced its operating rate, and Tongwei Co., Ltd. shut down all production. The polysilicon operating rate in February will not change much compared to January, and the output may be reduced to around 80,000 tons due to Tongwei's shutdown and the number of days in the month [73].

电解铝 ：资金持续离场 节前震荡为主 研究员：陈婧 期货从业证号：F03107034 投资咨询从业证号：Z0018401 铝策略展望 ◼ 衍生品：暂时观望。 GALAXY FUTURES 1 227/82/4 228/210/172 181/181/181 87/87/87 文 字 色 基 础 色 辅 助 色 137/137/137 210/10/16 221/221/221 208/218/234 ◼ 宏观：上周五贵金属市场的大幅回落在本周初得以延续，随后转为震荡格局，这其中有特朗普任命新任美联储主席为凯文沃什以及地缘冲 突有所缓和带来的预期转变，也有AI相关股票财报不及预期拖累美股回落带动的股期共振影响，而价格下跌的加速更多是前期快速上涨中 积累的风险得到释放的结果。此外，对人工智能支出和科技股估值的担忧引发的全球抛售潮在本周进一步加深，科技股从美国市场蔓延至 亚洲市场持续下挫，美元反弹。 ◼ 产业供应：近期无预期外变化。国内辽宁某30万吨闲置产能预计在3-5月开始复产，印尼某去年四季度新投的电解铝项目二期投产进度在 今年预计相对缓慢，印尼其余项目及安哥拉项目投产进度基本如期。国内华北某新投项目虽然通电但 ...

Group 1: Investment Rating - There is no information about the industry investment rating in the report. Group 2: Core Viewpoints - This week, iron ore prices continued to decline from their highs, and as short - term market sentiment and capital disturbances came to an end, prices gradually returned to the fundamental logic. The supply side continued to contribute significant increments, the supply remained loose, and port inventories of imported iron ore continued to increase rapidly. The domestic terminal steel demand was unlikely to improve significantly. After the Spring Festival, the market trading logic would focus on the recovery of terminal steel demand in the first half of the year, which might fall short of expectations. The weakening of the domestic iron ore fundamentals was expected to continue, and the high valuation of iron ore was unlikely to be sustained. Overall, the current market was mainly dominated by macro and capital factors. This week, the macro sentiment cooled, the iron ore price valuation was moderately high, and the iron ore price was expected to be weak [4]. - The trading strategy suggested a weak - running trend for single - side trading and a wait - and - see approach for arbitrage and options trading [4]. Group 3: Summary by Directory Comprehensive Analysis and Trading Strategy - The iron ore price was expected to run weakly. The single - side trading was expected to be weak, while arbitrage and options trading should adopt a wait - and - see approach [4]. Iron Core Logic Analysis - **Global Iron Ore Shipment**: Since 2026, the weekly average of global iron ore shipments has been 30.79 million tons, a year - on - year increase of 11% or 15 million tons. Among them, Australia's weekly shipments were 17.82 million tons, a 7.4% or 6.1 million - ton increase year - on - year, and Brazil's were 6.5 million tons, a 5.5% or 1.7 million - ton increase. The shipments of major overseas mines remained at a high level year - on - year. In 2025, 1.26 billion tons of iron ore were imported, a year - on - year increase of 24 million tons. Since the third quarter of last year, the year - on - year increase in domestic imported iron ore has continued to grow [7]. - **Non - mainstream Iron Ore Shipment**: Since 2026, the weekly average of non - Australian and non - Brazilian iron ore shipments has been 6.48 million tons, a year - on - year increase of 29% or 7.3 million tons. The Simandou mining area is expected to contribute most of the increment in 2026, about 20 million tons for the whole year. It is expected to be in the production ramping - up stage in 2026 and enter the fast - lane of production release in 2027 [9]. - **Imported Iron Ore Port Inventory**: This week, the port inventory of imported iron ore continued to increase, and the steel mill inventory increased significantly, resulting in a 4 - million - ton increase in the total domestic imported iron ore inventory compared with the previous week. The current port inventory of imported iron ore is at the highest level in the past six years, and the domestic iron ore supply - demand pattern remains loose. Since January, the port inventory of imported iron ore has continued to increase significantly, with an inventory accumulation of about 15 million tons [11]. - **Domestic Terminal Steel Demand**: In December 2025, the year - on - year decline in real - estate new construction was 19%, and the sales area decreased by 17% year - on - year. Infrastructure investment (excluding electricity) decreased by 12% year - on - year, and the growth rate of manufacturing investment decreased by 11% year - on - year. The real - estate market improved marginally but remained at the bottom, while the growth rates of infrastructure and manufacturing investment declined significantly. In the first half of 2026, the demand might fall short of expectations. Since the second half of 2025, domestic steel demand has been declining, and it is expected to continue to decline in the first half of 2026 on the high - base background of the first half of 2025. Overseas, in 2025, the consumption of iron ore decreased by 1% or 9 million tons year - on - year, but the consumption of iron elements increased by 3.5% or 37 million tons year - on - year. From the second quarter to the end of the year, overseas iron - element consumption was at a high level and continued to contribute increments. India's crude - steel output increased by 10% or 15.5 million tons year - on - year in 2025, and its demand remained at a relatively high level [13]. Iron Ore Fundamental Data Tracking - **Imported Iron Ore Port Price**: The report provides data on the Platts iron ore price index, the prices of PB powder and Carajás fines at Qingdao Port, and the spread between high, medium, and low - grade powder and the cash profit of steel mills [19]. - **Imported Iron Ore Port Profit**: It presents the import profits of PB powder, Carajás fines, Super Special powder, Jinbuba, PB lump, and FMG [21]. - **Profit of Mainstream Steel Mills in East China**: It includes the cash profits of rebar and hot - rolled coils in East China, the iron - making cost (excluding tax), the cash cost of hot - rolled coils, the cost of billets (excluding tax), and the cash cost of rebar [23]. - **Domestic - Overseas US Dollar Spread**: It shows the spreads between SGX and DCE contracts (converted to PB pricing), and the premium rate of Singapore iron ore to domestic iron ore [25]. - **Iron Ore Main Contract Basis and Inter - period Spread**: It provides data on the basis between the optimal delivery product and different contracts, and inter - period spreads such as 9/1, 1/5, and 5/9 spreads [27]. - **Global Four Major Mines' Shipments**: It shows the global shipment volumes of Rio Tinto, Vale, BHP, FMG, and CSN iron ore, as well as the arrival volume at 45 ports [29]. - **Imported Iron Ore Port Inventory**: It includes the inventory of powder, lump, pellet, non - trade, iron concentrate, and non - Australian and non - Brazilian iron ore at ports [31].

Report Title - The report is titled "Natural Gas: Market Volatility Declines, Geopolitical Risks Remain" [1] Researcher Information - The researcher is Wu Xiaorong, with a futures practice certificate number of F03108405 and an investment consulting certificate number of Z0021537 [2] Report Structure - The report consists of three chapters: "Comprehensive Analysis and Trading Strategies", "Fundamental Analysis", and "Core Data Tracking" [3] Fundamental Analysis LNG Market - Some data related to LNG: 103 LNG, 162 LNG, 91.7; 4370 GWh/ with a 21.2% change; 1710 GWh/ with an 8.2% change, 9932 GWh/ with a 2.0% change; power consumption data such as 439.7 TWH, 49.8 TWH, 149 TWh with an -18.8% change, 38.5%, 51.3%, 55.2% [11] US Market - The number of natural gas rigs is 1117, with an 8.9% change compared to the previous period and a 5.6% change year - on - year; the number of rigs increased by 3 to 125; some consumption and production data: 1315 / with a 9.0% change, 394 / with a 30.7% change, 293 / with a 52.1% change, 519 / with a 15.2% change; 187 with a 27.1% change and 23.5% change [13] Core Data Tracking Price and Spread - TTF - HH spread, international natural gas prices (JKM first - line, TFU first - line, HH first - line), HH month - spread (HH M1 - M2, HH M1 - M6, HH M1 - M12), TTF month - spread (TTF M1 - M2, TTF M1 - M6, TTF M1 - M12) are presented in graphical form [17] - HH, JKM, and TTF forward curves are shown [20] Supply and Demand in China - China's natural gas supply and demand, including supply volume and consumption volume, and China's LNG supply (domestic LNG supply and imported tanker LNG supply) are presented in graphical form [23] Inventory in China - China's inventory situation, including receiving station inventory level (in tons) and gas storage inventory level (in percentage), and China's LNG ex - factory price (China LNG ex - factory settlement price, North China LNG ex - factory settlement price, South China LNG ex - factory settlement price, East China LNG ex - factory settlement price) are presented in graphical form [26] European Market - Northwest European gas - coal conversion interval, European natural gas inventory, floating storage over 20 days volume, European LNG import volume, and European natural gas import (Norwegian exports to (European continent + UK), Russian three main lines, Russian exports to Bulgaria, North African pipeline gas, LNG imports, Azerbaijan to Italy) are presented in graphical form [29][32] US Market - US natural gas inventory, dry gas production, rig number (natural gas rigs and oil - gas rigs), liquefied export project flow, domestic consumption, power generation demand, industrial consumption, residential and commercial consumption are presented in graphical form [35][38] - US supply - demand balance sheet data: dry gas production is 1117.1 (compared to 1025.9 last week and 1057.7 last year, with an 8.9% and 5.6% change respectively); Canadian pipeline gas net import is 75.1 (compared to 87.3 last week and 62.0 last year, with a - 14.0% and 21.1% change respectively); domestic demand is 1314.7 (compared to 1445.4 last week and 1017.3 last year, with a - 9.0% and 29.2% change respectively); gas - electricity consumption is 393.6 (compared to 423.3 last week and 301.1 last year, with a - 7.0% and 30.7% change respectively); industrial consumption is 292.7 (compared to 317.0 last week and 192.4 last year, with a - 7.7% and 52.1% change respectively); residential and commercial consumption is 519.4 (compared to 595.6 last week and 429.1 last year, with a - 0.3% and 15.2% change respectively); pipeline loss and liquefaction plant demand is 109.1 (compared to 109.4 last week and 94.7 last year, with a - 0.3% and 15.2% change respectively); pipeline gas export to Mexico is 62.7 (compared to 63.1 last week and 64.4 last year, with a - 0.7% and - 2.7% change respectively); liquefied export project flow is 186.8 (compared to 146.9 last week and 151.2 last year, with a 27.1% and 23.5% change respectively) [40] Weather Forecast - ECMWF and GFS temperature and wind speed forecasts are presented in graphical form [43][46]