Report Information - Report Title: Iron Ore Morning Report [1] - Research Team: Black Team of the Research Center [2] - Report Date: September 22, 2025 [2] Spot Market - The latest price of the Platts 62 Index is 105.20, with a daily change of -0.40 and a weekly change of -0.45 [3] - Newman powder price is 795, with a daily change of 6 and a weekly change of 7, and the discounted futures price is 850.9 [3] - PB powder price is 799, with a daily change of 7 and a weekly change of 5, and the discounted futures price is 848.1 [3] - Australian Mac powder price is 787, with a daily change of 7 and a weekly change of 9, and the discounted futures price is 859.6 [3] - Kimbaba powder price is 770, with a daily change of 7 and a weekly change of 6, and the discounted futures price is 864.6 [3] - Mainstream mixed powder price is 760, with a daily change of 5 and a weekly change of 17, and the discounted futures price is 891.6 [3] - Super special powder price is 725, with a daily change of 10 and a weekly change of 21, and the discounted futures price is 944.2 [3] - Carajás powder price is 928, with a daily change of 9 and a weekly change of 22, and the discounted futures price is 876.5 [3] - Brazilian mixed powder price is 828, with a daily change of 7 and a weekly change of 12, and the discounted futures price is 843.8 [3] - Mainstream Brazilian coarse IOC6 price is 803, with a daily change of 7 and a weekly change of 4, and the discounted futures price is 880.9 [3] - Brazilian coarse SSFG price is 808, with a daily change of 7 and a weekly change of 4 [3] - Ukrainian iron concentrate price is 928, with a daily change of 5 and a weekly change of 8, and the discounted futures price is 1005.1 [3] - 61% Indian powder price is 759, with a daily change of 7 and a weekly change of 6 [3] - Karara iron concentrate price is 928, with a daily change of 5 and a weekly change of 8, and the discounted futures price is 953.7 [3] - Non - mainstream Roy Hill powder price is 769, with a daily change of 7 and a weekly change of 5, and the discounted futures price is 846.5 [3] - KUMBA powder price is 858, with a daily change of 7 and a weekly change of 5, and the discounted futures price is 849.7 [3] - 57% Indian powder price is 655, with a weekly change of 11 [3] - Atlas powder price is 755, with a daily change of 5 and a weekly change of 17 [3] - PB lump/lump premium price is 935, with a daily change of 9 and a weekly change of 7 [3] - Ukrainian pellet/pellet premium price is 928, with a daily change of 5 and a weekly change of 8 [3] - Domestic Tangshan iron concentrate price is 1008, with a daily change of 6 and a weekly change of 7, and the discounted futures price is 895.0 [3] Futures Market - The latest price of the i2601 contract on the Dalian Commodity Exchange is 807.5, with a daily change of 7.5 and a weekly change of 8.0, and the monthly spread is -43.5 [3] - The i2605 contract price is 786.0, with a daily change of 7.5 and a weekly change of 8.5, and the monthly spread is 21.5 [3] - The i2609 contract price is 764.0, with a daily change of 5.0 and a weekly change of -52.0, and the monthly spread is 22.0 [3] - The FE01 contract price on the Singapore Exchange is 102.78, with a daily change of -0.48 and a weekly change of 0.67, and the monthly spread is 2.49 [3] - The FE05 contract price is 100.85, with a daily change of -0.39 and a weekly change of 1.03, and the monthly spread is 1.93 [3] - The FE09 contract price is 105.27, with a daily change of -0.18 and a weekly change of -0.13, and the monthly spread is -4.42 [3] Basis and Spread - The latest basis/ domestic - foreign spread (in RMB) of the i2601 contract is 36.3, with a daily change of 0.1 and a weekly change of 5.0 [3] - The i2605 contract basis is 57.8, with a daily change of 0.1 and a weekly change of 4.5 [3] - The i2609 contract basis is 79.8, with a daily change of 2.6 and a weekly change of 65.0 [3] - The FE01 contract basis is -26.0, with a daily change of -1.6 and a weekly change of -0.1 [3] - The FE05 contract basis is -32.0, with a daily change of -1.8 and a weekly change of -2.5 [3] - The FE09 contract basis is -87.0, with a daily change of -4.0 and a weekly change of -79.6 [3] Import Profit - The import profit of Newman powder is -33.89 [3] - The import profit of PB powder is -13.57 [3] - The import profit of Australian Mac powder is -8.67 [3] - The import profit of Kimbaba powder is -11.94 [3] - The import profit of mainstream mixed powder is 15.47 [3] - The import profit of super special powder is 30.18 [3] - The import profit of Carajás powder is -7.41 [3] - The import profit of Brazilian mixed powder is -15.60 [3] - The import profit of non - mainstream Roy Hill powder is -7.32 [3]

Group 1: Report Industry Investment Ratings - No industry investment ratings are provided in the reports. Group 2: Core Views of the Reports - This week, copper prices fluctuated widely around 80,000 yuan. The copper fundamentals remained resilient, with downstream开工 increasing month - on - month. Consider laying out medium - term long positions below 79,000 - 79,500 yuan or selling put options below 78,000 yuan [1]. - For aluminum, supply increased slightly from January to July. The downstream开工 improved, and inventory was expected to decline in September. Hold positions at low prices under the low - inventory pattern and pay attention to far - month spreads and internal - external reverse arbitrage [2]. - Zinc prices fluctuated downward this week. The supply side had mixed trends, and demand was seasonally weak domestically and faced some production resistance overseas. Hold short positions and take partial profits on internal - external long arbitrage [5]. - Nickel's short - term fundamentals were weak, but the macro - level policies brought positive sentiment. The Indonesian policy had some price - supporting actions [6]. - Stainless steel's fundamentals were generally weak, with short - term macro - level following the anti - involution expectations, and the Indonesian policy had price - supporting motives [6]. - Lead prices rose due to macro factors. Supply was expected to be flat, demand improved slightly but inventory was at a high level. Next week, lead prices were expected to fluctuate significantly in the range of 16,800 - 17,200 yuan [8]. - Tin prices fluctuated widely. The domestic and overseas supply was expected to improve marginally after October. Short - term, it is recommended to wait and see, and short lightly above 275,000 yuan/ton [11]. - For industrial silicon, the short - term supply - demand was in a tight balance, and the long - term price was expected to oscillate at the cycle bottom [15]. - Carbonate lithium prices fluctuated strongly. The supply was in an expansion cycle, but there were supply - side disturbances. The price had high elasticity after the supply - side disturbance hype landed [17]. Group 3: Summaries by Metal Copper - This week, copper prices fluctuated widely around 80,000 yuan. Before the interest - rate meeting, the market's profit - taking sentiment led to a decline in copper prices. The downstream开工 increased month - on - month, and the scrap - refined substitution effect weakened. The internal - external long arbitrage had space, and copper was driven by the global fiscal and monetary double - loosening [1]. Aluminum - Supply increased slightly from January to July. The downstream开工 improved, with stable photovoltaic module production schedules, but overseas demand declined significantly. Inventory was expected to decline in September. Hold positions at low prices under the low - inventory pattern [2]. Zinc - This week, zinc prices fluctuated downward. The domestic TC decreased slightly, and the imported TC increased significantly. The demand was seasonally weak domestically and faced production resistance overseas. The LME inventory decreased, and the internal - external pattern might further differentiate. Hold short positions and take partial profits on internal - external long arbitrage [5]. Nickel - The supply of pure nickel remained at a high level, demand was weak, and inventory increased both at home and abroad. The short - term fundamentals were weak, but the macro - level policies brought positive sentiment, and the Indonesian policy had price - supporting actions [6]. Stainless Steel - The steel mills were expected to resume production slightly. Demand was mainly for rigid needs. The cost of nickel - iron remained stable, and that of chrome - iron increased slightly. Inventory decreased in Xifu areas, and the overall fundamentals were weak [6]. Lead - This week, lead prices rose due to macro factors. Supply was expected to be flat, with low -开工 of recycled lead. Demand improved slightly, but inventory was at a high level. Next week, lead prices were expected to fluctuate significantly in the range of 16,800 - 17,200 yuan [8]. Tin - This week, tin prices fluctuated widely. The domestic smelters reduced production, and overseas supply was expected to recover after September. Demand was mainly supported by rigidity, and the LME inventory rebounded from a low level. Short - term, it is recommended to wait and see, and short lightly above 275,000 yuan/ton [11]. Industrial Silicon - The Xinjiang leading enterprises remained stable, and the production in Sichuan and Yunnan was stable. The short - term supply - demand was in a tight balance, and the long - term price was expected to oscillate at the cycle bottom [15]. Carbonate Lithium - This week, carbonate lithium prices fluctuated strongly. The raw - material suppliers had strong price - holding intentions, and the lithium - salt procurement was supported by pre - holiday stocking. The supply was in an expansion cycle, but there were supply - side disturbances, and the price had high elasticity after the supply - side disturbance hype landed [17].

Report Overview - Report Name: Coking Coal Daily Report - Research Team: Black Team of the Research Center - Date: September 22, 2025 [1] Key Price and Inventory Data Coal Prices - **柳林主焦**: The latest price is 1,503.00, with no daily change, a weekly increase of 102.00, a monthly increase of 50.00, and an annual increase of 7.36% [2] - **原煤口岸库提价**: The latest price is 1,009.00, with a daily increase of 19.00, a weekly increase of 74.00, a monthly increase of 47.00, and an annual decrease of 11.49% [2] - **沙河驿蒙5**: The latest price is 1,350.00, with no daily or weekly change, a monthly decrease of 30.00, and an annual decrease of 18.18% [2] - **安泽主焦**: The latest price is 1,500.00, with no daily change, a weekly increase of 80.00, a monthly increase of 30.00, and an annual decrease of 10.71% [2] Futures Prices - **盘面05**: The latest price is 1,312.50, with a daily increase of 10.00, a weekly increase of 48.00, a monthly increase of 127.00, and an annual increase of 2.54% [2] - **盘面09**: The latest price is 1,380.50, with a daily increase of 20.00, a weekly increase of 88.50, a monthly increase of 351.00, and an annual increase of 3.95% [2] - **盘面01**: The latest price is 1,216.00, with a daily increase of 0.50, a weekly increase of 44.00, a monthly increase of 74.50, and an annual decrease of 5.15% [2] Inventory Data - **总库存**: The latest inventory is 3,372.99, with a weekly increase of 56.61, a monthly decrease of 100.63, and an annual decrease of 10.92% [2] - **煤矿库存**: The latest inventory is 232.79, with a weekly decrease of 21.73, a monthly decrease of 42.85, and an annual decrease of 15.02% [2] - **港口库存**: The latest inventory is 271.11, with a weekly decrease of 4.38, a monthly increase of 15.62, and an annual decrease of 34.53% [2] - **钢厂焦煤库存**: The latest inventory is 793.73, with a weekly decrease of 2.03, a monthly decrease of 12.07, and an annual increase of 10.49% [2] - **焦化焦煤库存**: The latest inventory is 883.54, with a weekly decrease of 36.51, a monthly decrease of 93.34, and an annual increase of 4.31% [2] Other Data - **焦化产能利用率**: The latest utilization rate is 75.87, with a weekly decrease of 0.05, a monthly increase of 1.45, and an annual increase of 9.88% [2] - **焦化焦炭库存**: The latest inventory is 86.03, with a weekly increase of 0.10, a monthly decrease of 0.14, and an annual decrease of 0.06% [2] - **05基差**: The latest value is -28.94, with a daily decrease of 10.00, a weekly increase of 50.85, a monthly decrease of 95.97, and an annual decrease of 209.51 [2] - **09基差**: The latest value is -96.94, with a daily decrease of 20.00, a weekly increase of 10.35, a monthly decrease of 319.97, and an annual decrease of 1.73 [2] - **01基差**: The latest value is 67.56, with a daily decrease of 0.50, a weekly increase of 54.85, a monthly decrease of 43.47, and an annual decrease of 0.62 [2] - **5 - 9价差**: The latest value is -68.00, with a daily decrease of 10.00, a weekly decrease of 40.50, a monthly decrease of 224.00, and an annual increase of 0.42 [2] - **9 - 1价差**: The latest value is 164.50, with a daily increase of 19.50, a weekly increase of 44.50, a monthly increase of 276.50, and an annual increase of 2.58 [2] - **1 - 5价差**: The latest value is -96.50, with a daily decrease of 9.50, a weekly decrease of 4.00, a monthly decrease of 52.50, and an annual decrease of 49.25 [2]

Report Information - Report Name: Bitumen Morning Report [2][11][20] - Report Date: September 22, 2025 [3][12][21] - Report Team: Research Center Energy and Chemicals Team [3][12][21] Key Points Futures Market - **Contract Prices**: The BU main contract price decreased by 6 to 3421 on September 19, with a weekly decrease of 42. Other contracts like BU06, BU09, BU12, and BU03 also showed varying degrees of decline [4][13][22]. - **Trading Volume and Open Interest**: The trading volume increased by 36008 to 246616 on September 19, but decreased by 21872 compared to the previous week. The open interest increased by 675 to 409431 on September 19, with a weekly decrease of 34400 [4][13][22]. - **Inventory**: The inventory remained unchanged at 23240 on September 19, with a weekly decrease of 3250 [4][13][22]. Spot Market - **Market Prices**: The Shandong market price remained at 3520 on September 19, with a weekly decrease of 20. The East China market price remained at 3590, with a weekly decrease of 50. The South China market price remained at 3490, with a weekly decrease of 10. The North China market price remained at 3660, with a weekly increase of 10. The Northeast market price remained at 3850, unchanged from the previous week [4][13][22]. - **Enterprise Prices**: The Jingbo (Haiyun) price decreased by 10 to 3620 on September 19, with a weekly decrease of 30. The Xinhai (Xin Bohai) price remained at 3660, with a weekly increase of 10 [4][13][22]. Basis and Spread - **Basis**: The Shandong basis increased by 6 to 93 on September 19, with a weekly increase of 22. The East China basis increased by 6 to 169, with a weekly decrease of 8. The South China basis increased by 6 to 63, with a weekly increase of 32 [4][13][22]. - **Spread**: The 03 - 06 spread decreased by 2 to 17 on September 19, with a weekly increase of 15. The 06 - 09 spread decreased by 1 to 8, with a weekly increase of 75. The 09 - 12 spread increased by 6 to -33, with a weekly decrease of 70. The 12 - 03 spread decreased by 3 to 8, with a weekly decrease of 20 [4][13][22]. Crack Spread and Profit - **Crack Spread**: The bitumen Brent crack spread increased by 26 to 18 on September 19, with a weekly decrease of 40 [4][13][22]. - **Profit**: The bitumen MRE profit increased by 24 to -51 on September 19, with a weekly decrease of 36. The general refinery comprehensive profit increased by 7 to 387, with a weekly decrease of 52. The MRE - type refinery comprehensive profit increased by 13 to 725, with a weekly decrease of 45. The import profit (South Korea - East China) remained unchanged at -141, with a weekly decrease of 41. The import profit (Singapore - South China) remained unchanged at -944, with a weekly decrease of 5 [4][13][22]. Related Prices - **Crude Oil**: The Brent crude oil price decreased by 0.5 to 67.4 on September 19, with a weekly increase of 0.5 [4][13][22]. - **Gasoline and Diesel**: The Shandong market price of gasoline decreased by 28 to 7483 on September 19, with a weekly decrease of 74. The Shandong market price of diesel decreased by 40 to 6438, with a weekly decrease of 82 [4][13][22]. - **Residue Oil**: The Shandong market price of residue oil remained at 3660 on September 19, with a weekly decrease of 40 [4][13][22].

1. Report Industry Investment Rating - No relevant content found 2. Core Views of the Report - In the short - term, there is a risk of price - cutting in the spot market, and the futures market is expected to remain weak. The current high position of the October contract has the risk of pre - holiday position reduction or subsequent position transfer fluctuations. In the medium - term, there are multiple upward drivers. From a valuation perspective, the 02 contract has a higher cost - performance ratio for long - position allocation than the 12 contract because the Spring Festival in 2026 is relatively late (February 17, 2026), and the settlement price of the 02 contract may be higher. The 04 contract is currently over - valued and is more suitable for short - position allocation in the short - term as it is a off - season contract, but its low liquidity may make it vulnerable to disturbances. Therefore, attention can be paid to the reverse spread of 12 - 02 and the positive spread of 02 - 04 [2][20] 3. Summary by Relevant Catalogs Futures Market - **Futures Contract Prices and Changes**: The closing prices of EC2510, EC2512, EC2602, EC2604, and FC2606 on the previous trading day were 1050.5, 1630.0, 1562.5, 1250.0, and 1439.1 respectively, with changes of - 5.01%, - 0.93%, - 0.23%, - 0.41%, and 6600F respectively. The trading volumes were 33110, 11583, 2298, 1293, and 132 respectively, and the open interest changes were 542, 1510, 61, 307, and 52 respectively [2][20] - **Monthly Spread**: The spreads of EC2510 - 2512, EC2512 - 2602 on the previous day were - 579.5 and 67.5 respectively, with daily changes of - 40.1 and - 11.7 respectively, and weekly changes of - 86.4 and - 71.8 respectively [2][20] Spot Market - **Spot Price Index**: The SCFIS SCFI index (updated every Monday) on September 15, 2025 was 0 points, a decrease of 100.00% from the previous period; the SCFIS SCFI (in US dollars/TEU, updated every Friday) on September 19, 2025 was 1052 US dollars, a decrease of 8.84% from the previous period. The CCFI index on September 19, 2025 was 1470.97 points, a decrease of 4.31% from the previous period. The NCFI index on September 19, 2025 was 673.61 points, a decrease of 7.65% from the previous period [2][20] - **Spot Booking and Quotation**: Currently, downstream customers are booking shipping space for the first ten days of October (week 39 - 41). The average quotation for week 39 is 1640 US dollars (equivalent to 1150 points on the futures market). For weeks 40 - 41, the shipping space is released together (because most of the cargo volume in week 41 has been diverted during the holiday). The average quotation is 1500 US dollars (equivalent to 1050 points on the futures market). Among them, MSK quotes 1450 US dollars, PA (excluding YML) quotes between 1400 - 1600 US dollars, YML quotes 1300 US dollars (the lowest price of the year), and OA quotes between 1500 - 1600 US dollars [2][20] Shipping Capacity - **Shipping Capacity Adjustment**: This week, the shipping capacities in October and November have been adjusted downwards. The main changes are that OA has added one more sailing suspension in the schedule of week 41, and PA & MSC have added 2 and 1 more sailing suspensions in weeks 46 and 47 respectively. The average weekly shipping capacities in September, October, and November are 290,000, 271,400, and 313,900 TEU respectively. After classifying all TBN as sailing suspensions, they are 290,000, 271,400, and 293,400 TEU respectively [2][20]

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints No information provided. 3. Summary by Relevant Catalogs Price and Profit - The report presents the spot prices of various steel products from September 15 - 19, 2025, including Beijing, Shanghai, Chengdu, Xi'an, Guangzhou, and Wuhan's rebar, as well as Tianjin, Shanghai, and Lecong's hot - rolled and cold - rolled coils. For rebar, the price changes from September 15 - 19 were 40 in Beijing, 50 in Shanghai, and 0 in other regions. For hot - rolled coils, the price change was 0 in Tianjin and Lecong, and 60 in Shanghai. For cold - rolled coils, the price change was 0 in all regions [1]. Basis and Spread No information provided. Output and Inventory No information provided.

2025/9/22 焦炭日报 研究中心黑色团队 | | 最新 | 日变化 | 周变化 | 月变化 同比 | | 最新 | 日变化 | 周变化 | 月变化 同比 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 山西准一湿熄 | 1427.78 | 0.00 | -54.61 | -53.55 | -11.51% 高炉开工率 | 90.35 | | 0.17 | 0.10 | 7.70% | | 河北准一干熄 | 1680.00 | 0.00 | -55.00 | -55.00 | 7.69% 铁水日均产量 | 241.02 | | 0.47 | 0.27 | 7.68% | | 山东准一干熄 | 1605.00 | 0.00 | -55.00 | -55.00 | -10.34% 盘面05 | 1866.5 | 13.00 | 57.50 | 94.50 | -2.89% | | 江苏准一干熄 | 1645.00 | 0.00 | -55.00 | -55.00 | -10.11% 盘面09 | 1923.5 | ...

Report Industry Investment Rating - Not provided in the content Core Viewpoint - Not provided in the content Summary by Relevant Catalogs Price - Various prices of silicon ferroalloys (FeSi) and silicon manganese (SiMn) in different regions from 2021 - 2025 are presented, including market prices, export/import prices, and contract closing prices [1][2][6] - Price differences between different grades and regions are also shown, such as 72%FeSi and 75%FeSi, and price spreads between regions like the north - south spread of SiMn [1][6] Supply - Production data of silicon ferroalloys and silicon manganese are provided, including monthly and weekly production volumes, and capacity utilization rates in different regions [4][6] - The supply - related data cover 136 sample enterprises for silicon ferroalloys and the overall production situation of silicon manganese in China [4][6] Demand - Demand - related data include the demand volume of silicon manganese in China, and the procurement volume and price of FeSi75 - B by HeSteel Group [4][6][7] - Production data of related industries like crude steel, stainless - steel, and metal magnesium are also presented, which are relevant to the demand for ferroalloys [4] Inventory - Inventory data of silicon ferroalloys and silicon manganese are provided, including inventory levels of sample enterprises in different regions, warehouse receipts, and effective forecasts [5][7] - Inventory average available days in different regions and the whole country are also shown [5][7] Cost and Profit - Cost - related data include electricity prices in different regions and the market price of semi - coke in Shaanxi [5] - Profit data cover the production profit of semi - coke, the profit of silicon ferroalloys in different regions, and the profit of silicon manganese in different regions [5][7]

Report Summary 1) Report Industry Investment Rating No information provided. 2) Core Viewpoints - In the short - term, there is a risk of price - slashing in the spot market, and the futures market is expected to remain weak. High current positions pose risks of pre - holiday position reduction or subsequent position transfer [1]. - In the medium - term, there are multiple upward drivers. From a valuation perspective, the 02 contract has a higher cost - effectiveness for long - positions compared to the 12 contract because the Spring Festival in 2026 is relatively late (February 17, 2026), and the settlement price of the 02 contract may be higher. The 04 contract is currently over - valued and is more suitable for short - positions in the short - term, but its low liquidity may make it vulnerable to disturbances. Therefore, attention can be paid to the 12 - 02 reverse spread and the 02 - 04 positive spread [1]. 3) Summary by Relevant Content Futures Contract Information - **Futures Prices and Changes**: The closing prices and price changes of multiple EC and FC futures contracts are presented. For example, the EC2510 contract closed at 1050.5 with a 5.01% increase, while the FC2512 contract closed at 1630.0 with a 0.93% decrease [1]. - **Month - to - Month Spreads**: The spreads between different contract months are provided, such as the EC2510 - 2512 spread being - 579.5, showing a - 40.1 change compared to the previous day [1]. Index Information - **Shipping Indexes**: Various shipping indexes are updated weekly or monthly. For instance, the SCHIS index was 0 on September 15, 2025, down 100.00% from the previous period; the SCFI index was 1052 dollars/TEU on September 19, 2025, down 8.84% from the previous period [1]. Spot Market Information - **Downstream Booking**: Currently, downstream customers are booking shipping space for the period from the end of September to the beginning of October (week 39 - 41). The average quote for week 39 is 1640 dollars (equivalent to 1150 points on the futures market), and for weeks 40 - 41, it is 1500 dollars (equivalent to 1050 points on the futures market) [1]. - **Shipping Capacity**: The weekly average shipping capacities in September, October, and November are 290,000, 271,400, and 313,900 TEU respectively. After considering all TBN as suspended sailings, they are 290,000, 271,400, and 293,400 TEU [1]. News and Other Information - **Military Action News**: On September 20, 2025, the Israeli Defense Forces expanded their ground operations in Gaza City, resulting in 34 Palestinian deaths in the past 24 hours [3]. - **Index Delay Note**: The XSI - C index is delayed by three working days for publication [4].

Group 1: Price Performance - London Gold's latest price is 3643.70 with no change [3] - London Silver's latest price is 41.86 with no change [3] - London Platinum's latest price is 1369.00 with no change [3] - London Palladium's latest price is 1161.00 with no change [3] - WTI Crude's latest price is 63.57 with no change [3] - LME Copper's latest price is 9962.50 with a change of 20.00 [3] - The US Dollar Index's latest value is 97.37 with no change [3] - Euro to US Dollar's latest exchange rate is 1.18 with no change [3] - Pound to US Dollar's latest exchange rate is 1.36 with no change [3] - US Dollar to Japanese Yen's latest exchange rate is 148.00 with no change [3] - US 10 - year TIPS's latest value is 1.75 with a change of 0.02 [3] Group 2: Trading Data - COMEX Silver's latest inventory is 16300.91 with no change [4] - SHFE Silver's latest inventory is 1159.44, a decrease of 44.08 [4] - Gold ETF's latest holding is 994.56, an increase of 18.90 [4] - Silver ETF's latest holding is 15205.14 with no change [4] - SGE Silver's latest inventory is 1283.61 with no change [4] - SGE Gold's latest deferred fee payment direction is 2, an increase of 1.00 [4] - SGE Silver's latest deferred fee payment direction is 1 with no change [4]