Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Core View of the Report - No clear core view presented in the given content Group 3: Summary of Key Information Spot Market - **Australian Iron Ore**: Newman powder price is 772, down 4 daily and 7 weekly; PB powder is 775, down 5 daily and 9 weekly; Mac powder is 770, down 4 daily and 5 weekly; Jinbuba powder is 745, down 5 daily and 9 weekly; Super Special powder is 703, down 2 daily and 9 weekly; Carajás powder is 903, down 5 daily and 15 weekly; Roy Hill powder is 762, down 5 daily and 9 weekly; KUMBA powder is 834, down 5 daily and 9 weekly; 57% Indian powder is 636, down 2 daily and 9 weekly; Atlas powder is 740, down 5 daily and 5 weekly [1] - **Brazilian Iron Ore**: Brazilian mixed powder is 810, down 3 daily and 11 weekly; Brazilian coarse IOC6 is 779, down 5 daily and 9 weekly; Brazilian coarse SSFG is 784, down 5 daily and 9 weekly [1] - **Other Regions**: Ukrainian concentrate powder is 900, down 5 daily and 10 weekly; 61% Indian powder is 734, down 5 daily and 9 weekly; Karara concentrate powder is 900, down 5 daily and 10 weekly [1] - **Domestic Ore**: Tangshan iron concentrate powder is 1013, down 7 daily and up 6 weekly [1] Futures Market - **DCE Contracts**: i2601 contract price is 776.5, down 5.5 daily and 14 weekly; i2605 is 754.0, down 7.0 daily and 17 weekly; i2609 is 733.0, down 6.5 daily and 17.5 weekly [1] - **SGX Contracts**: FE01 price is 101.79, down 1.97 daily and up 0.28 weekly; FE05 is 99.30, down 1.86 daily and 0.43 weekly; FE09 is 97.05, down 1.72 daily and 0.67 weekly [1] Premiums and Spreads - **Uzbekistan Ball/Pellet Premium**: Some data is presented but not clearly summarized here [1] - **PB Lump/Block Premium**: Some data is presented but not clearly summarized here [1] - **Monthly Spreads**: For DCE contracts, i2601 has a monthly spread of -43.5, up 4.1 weekly; i2605 has a spread of 22.5, up 7.1 weekly; i2609 has a spread of 21.0, up 7.6 weekly [1] - **FE Contracts Spreads**: FE01 has a spread of -4.74, down 7.4 weekly; FE05 has a spread of 2.49, down 2.9 weekly; FE09 has a spread of 2.25, up 63.2 weekly [1]

Report Summary 1. Report Industry Investment Rating No information provided in the content. 2. Core View of the Report No clear core view is presented in the given content. The report mainly provides various data on asphalt, including contract prices, trading volumes, market prices, basis, and spreads. 3. Summary According to Related Catalogs Futures Contracts - The prices of most BU contracts decreased on October 15 compared to the previous day, with BU10 remaining unchanged. For example, BU11 decreased by 40 to 3250, and BU01 decreased by 13 to 3154 [4]. - The trading volume on October 15 was 262,129, an increase of 18,325 from the previous day and 32,331 from the previous week. The open interest was 346,507, a decrease of 402 from the previous day but an increase of 29,572 from the previous week [4]. Market Prices - Market prices in different regions generally showed a downward trend. For instance, the Shandong market price decreased by 10 to 3450, and the Northeast market price decreased by 30 to 3720 [4]. - The price differences between regions also changed. The Shandong - Northeast price difference increased by 20 to -270, and the East China - South China price difference remained at 70 [4]. Basis and Spread - Most basis values increased. For example, the Shandong basis (+80) increased by 50 to 240, and the South China basis increased by 30 to 80 [4]. - The spread between different contract months also changed significantly. For example, the 10 - 11 spread increased by 40 to 220, and the 10 - 12 spread increased by 27 to 286 [4]. Crack Spread and Profit - The asphalt Brent crack spread increased by 38 to 199, and the asphalt MRE profit increased by 35 to 113. The comprehensive profit of ordinary refineries increased by 21 to 527, and the comprehensive profit of MRE - type refineries increased by 26 to 915 [4]. - The import profit from South Korea to East China and from Singapore to South China remained unchanged at -268 and -994 respectively [4].

Report Overview - Report Title: Synthetic Rubber Morning Report - Research Team: Energy and Chemicals Team of the Research Center - Report Date: October 16, 2025 [2] 1. Market Data Summary 1.1 BR (Butadiene Rubber) Market - **Price and Volume**: The closing price of the main contract was 10,895 on October 15, with a weekly change of -205. The main contract's open interest decreased by 8,746 to 24,468, and the trading volume was 113,246, with a weekly increase of 65,011. The warehouse receipt quantity was 8,550, with a change of -3 [3]. - **Basis and Spread**: The basis of BR was 195, with a weekly change of -115. The 10 - 11 month spread was -475, and the 11 - 12 month spread was 35 [3]. - **Market Prices**: The Shandong market price of BR was 10,950, down 350 from the previous period. The Chuanhua market price was 10,800, and the Qilu ex - factory price was 11,200, down 300 [3]. - **Profit Analysis**: The spot processing profit was 135, and the on - screen processing profit was 141. The import profit was -79,908, and the export profit was 445 [3]. 1.2 Butadiene (BD) Market - **Market Prices**: The CFR Northeast Asia price was 1,500, and the CFR Southeast Asia price was 1,700, both remaining unchanged. The Shandong market price was 8,550, down 475, and the Jiangsu market price was 8,450, down 400. The Yangzi ex - factory price was 8,600, down 300 [3]. - **Profit Analysis**: The carbon - four extraction profit was N/A, and the butene oxidative dehydrogenation profit was 80. The import profit was -141, and the export profit was -541 [3]. 1.3 Downstream Product Markets - **Production Profits**: The ABS production profit was N/A, the SBS (791 - H) production profit was 730, and the butadiene styrene rubber (SBR) production profit was N/A [3]. 1.4 Inter - and Intra - Product Spreads - **Inter - Product Spreads**: The RU - BR spread was -17,073, the NR - BR spread was -12,233, the Thai mixed - BR spread was 3,450, and the 3L - SBR spread was 3,500 [3]. - **Intra - Product Spreads**: The SBR 1502 - 1712 spread was 950, and the standard - non - standard spread of BR was 450 [3]

Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Report Core Views - Corn prices are expected to remain weak in the short - term due to the concentrated listing of new - season corn. In the long - term, the game between farmers and traders will be crucial, and if prices drop significantly, farmers may resist selling, leading to a price rebound [1] - Starch prices are expected to decline in the short - term as raw material prices weaken, and inventory accumulation may further restrict price rebounds. In the long - term, downstream consumption rhythm is key, and a significant price drop may stimulate downstream replenishment [2] - International sugar prices are under pressure due to Brazil's peak - season supply. In the domestic market, imported sugar arrivals and lower processing sugar quotes are pressuring the price [3] - Cotton has entered a consolidation phase, and if there are no major macro - risks, the April low can be seen as a long - term bottom. Attention should be paid to demand changes [5] - Egg prices are expected to remain weak in the short - term due to high supply and seasonal demand decline after the holiday. The acceleration of chicken culling may support prices [9] - Apple's new - season production in the whole country is not expected to differ greatly from last year, but some areas have quality issues due to rainfall. The average opening price is above 3.5 yuan per catty [12] - For pigs, if the near - term pressure continues to be released, it will strengthen the policy expectations for the far - term production capacity inflection point next year. There may be short - term rebounds, but medium - term supply pressure remains. Attention should be paid to factors such as slaughter rhythm, diseases, and policies [12] Group 3: Summary by Commodity Corn - **Price Data**: From October 9 - 15, prices in some regions remained stable, while the price in蛇口 increased by 30. The basis decreased by 8, trade profit increased by 30, and import profit increased by 31 [1] - **Analysis**: New - season corn has been listed, and short - term prices are weak due to concentrated supply. Long - term prices depend on the game between farmers and traders [1] Starch - **Analysis**: After the holiday, new - season corn listing led to lower raw material purchase prices, but starch price adjustment is limited due to high production costs. Short - term prices may decline, and long - term prices depend on downstream consumption [2] Sugar - **Price Data**: From October 9 - 15, the spot prices in some regions decreased, the basis decreased by 16, and the number of warehouse receipts decreased by 50 [3] - **Analysis**: International market supply pressure from Brazil affects prices, and in the domestic market, imported sugar arrivals and lower quotes are pressuring the price [3] Cotton - **Price Data**: From October 9 - 15, the price of 3128 cotton decreased by 25, and the import profit increased by 9 [14] - **Analysis**: Cotton is in a consolidation phase, and the long - term bottom may be at the April low. Attention should be paid to demand changes [5] Eggs - **Price Data**: From October 9 - 15, prices in some regions remained stable, while the price in Hubei increased by 0.04. The price of yellow - feather broilers increased by 0.05, and the price of pigs decreased by 0.27 [9] - **Analysis**: Egg prices dropped 12.5% during the holiday, and short - term prices are expected to be weak. Chicken culling rhythm is a key factor [9] Apples - **Price Data**: From October 9 - 14, the spot price of Shandong 80 first - and second - grade apples remained stable, and the basis of different contracts changed [11] - **Analysis**: New - season apples in the western region are being bag - removed, and those in Shandong are delayed due to rain. The national production is similar to last year, but some areas have quality issues [12] Pigs - **Price Data**: From October 9 - 15, prices in some regions increased, and the basis increased by 150 [12] - **Analysis**: Near - term pressure release may strengthen far - term production capacity inflection point expectations. There may be short - term rebounds, but medium - term supply pressure remains [12]

废钢早报 研究中心黑色团队 2025/10/16 日期 华东 华北 中部 华南 东北 西南 2025/10/09 2249 2317 2070 2253 2278 2152 2025/10/10 2251 2323 2074 2258 2277 2156 2025/10/13 2245 2321 2071 2250 2272 2146 2025/10/14 2242 2315 2059 2240 2270 2137 2025/10/15 2238 2307 2057 2235 2266 2135 环比 -4 -8 -2 -5 -4 -2 免责声明: 以上内容所依据的信息均来源于交易所、媒体及资讯公司等发布的公开资料或通过合法授权渠道向发布人取得的资讯，我们力求分析及建议内 容的客观、公正，研究方法专业审慎，分析结论合理，但我司对信息来源的准确性和完整性不作任何保证，也不保证所依据的信息和建议不会 发生任何变化。我们提供的全部分析及建议内容仅供参考，不构成对您的任何投资建议及入市依据，您应当自主做出期货交易决策，独立承担 期货交易后果，凡据此入市者，我司不承担任何责任。我司在为您提供服务时已最大程度避免与您产生 ...

1. Report Industry Investment Rating - Not provided in the given content 2. Core View of the Report - The report provides a comprehensive overview of the current situation in the global oilseeds and oils market, including soybean processing, production, and trade in the US and Brazil, palm oil exports in Malaysia, and edible oil imports in India, along with price - related data [1] 3. Summary by Relevant Catalog US Soybean Processing and Inventory - In September 2025, the US soybean processing volume reached the fourth - highest monthly level on record, with NOPA member companies processing 197.863 million bushels, a 4.2% increase from August and an 11.6% increase from September 2024. The market expected a decline to 186.34 million bushels [1] - The average daily processing volume in September was 6.595 million bushels, the second - highest on record [1] - As of September 30, NOPA member companies' soybean oil inventory dropped to a nine - month low of 1.243 billion pounds, a 0.2% decrease from the end of August but a 16.6% increase from the previous year. Analysts predicted it to drop to 1.22 billion pounds [1] - In September, the US produced 4,700,448 short tons of soybean meal and 2.352435 billion pounds of soybean oil [1] Brazil's Soybean Production and Trade - The Brazilian Institute of Geography and Statistics (IBGE) estimated that Brazil's 2025 soybean production would be 165.865717 million tons, a 14.4% increase from the previous year. The planting area was estimated to be 47.696481 million hectares, a 3.6% increase from the previous month's estimate and a 0.1% increase from the previous year [1] - Industry analysts expected Brazil's 2025/26 soybean production to reach a record high of 177.6 million tons, a 3.6% increase from the previous year, mainly due to a record - high planting area. Current estimates are higher than the USDA's September report [1] - Conab data showed that Brazil's 2025/2026 soybean exports were expected to increase to 112.11 million tons, with production at 177.64 million tons, planting area at 49.1 million hectares, and a yield of 3.62 tons per hectare [1] Malaysia's Palm Oil Exports - According to ITS, Malaysia's palm oil exports from October 1 - 15, 2025, were 862,724 tons, a 16.2% increase from the same period last month [1] - AmSpec reported that Malaysia's palm oil exports from October 1 - 15, 2025, were 781,006 tons, a 12.3% increase from the same period last month [1] India's Edible Oil Imports - In September 2025, India's palm oil imports dropped 16.3% to 829,017 tons, the lowest since May, as refineries favored cheaper soybean oil. Soybean oil imports surged 36.8% to 503,240 tons, the highest since July 2022, and sunflower oil imports increased about 6% to 272,386 tons, the highest since January [1] - The decline in palm oil imports dragged down India's total edible oil imports in September by 1% to 1.6 million tons [1] - A dealer predicted that India's palm oil imports in October might drop to about 600,000 tons, while soybean oil imports might exceed 450,000 tons [1] Price - related Data - The report provides historical data on the crushing profit of imported soybeans, import profit of various oils (soybean oil, palm oil, rapeseed oil), spot prices of palm oil, soybean meal, rapeseed meal, soybean oil, and rapeseed oil, as well as basis and price spreads of protein meals and oils [1][2]

Report Summary 1. Report Industry Investment Rating - No relevant information provided. 2. Core Viewpoints - The EC is currently in a contradiction between weak reality and strong expectations, and fluctuates greatly under the influence of the Middle East geopolitical situation and Sino - US tariff policies. The measure of China's counter - measures against 5 US - related subsidiaries of Hanwha Ocean Co., Ltd. is expected to have little impact on the European line. With average cargo collection in Week43 and high shipping capacity in Week44, the price increase declaration in early November is expected to have poor implementation, but there are still upward drivers in subsequent price increase declaration nodes. The valuation of the December contract is neutral, and the long - position trading has returned to a period driven by fundamentals. Geopolitical factors have a greater impact on the 2026 contracts [2]. 3. Summary by Related Content Futures Contract Information - **Futures Prices and Changes**: For EC2510, the closing price was 1136.2, with a 0.60% increase; EC2512 closed at 1674.1, up 7.14%; EC2602 at 1464.4, up 7.68%; EC2604 at 1150.0, up 4.69%; EC2606 at 1318.8, up 4.01% [2]. - **Month - to - Month Spreads**: The spread of EC2510 - 2512 was - 537.9, with a month - on - month change of - 104.8 and a week - on - week change of 83.4; the spread of EC2512 - 2602 was 209.7, with a month - on - month change of 7.1 and a week - on - week change of 120.6 [2]. Spot Freight Index - **SCHIS**: Updated every Monday, as of October 13, 2025, it was 1031.80 points, down 1.40% from the previous period [2]. - **SCFI (European Line)**: Updated weekly, as of October 10, 2025, it was 1068 US dollars/TEU, up 9.99% from the previous period [2]. - **CCFI (European Line)**: Updated weekly, as of October 10, 2025, it was 1287.15 points, down 8.19% from the previous period [2]. - **NCFI**: Updated weekly, as of October 10, 2025, it was 698.67 points, up 11.39% from the previous period [2]. European Line Quotation - **Week40 - 41**: The average quotation was 1470 US dollars (equivalent to 1030 points on the futures market) [3]. - **Week42**: The online quotation was 1800 US dollars, and the overall average was 1600 US dollars (1120 points) [3]. - **November Price Increase Declaration**: MSK, CMA, OOCL declared a price increase to around 2500 US dollars, equivalent to around 1750 points on the futures market, but it is difficult to implement due to average cargo collection in Week43 and high shipping capacity in Week44 (330,000 TEU) [3]. News - On October 14, Israeli drones attacked an eastern community in Gaza City, resulting in 3 Palestinian deaths [4]. - On October 15, the negotiation of the second - stage cease - fire agreement in Gaza was launched. The key points of the negotiation include the complete withdrawal of the Israeli army from the Gaza Strip and the disarmament of Hamas, but there are still differences between the two sides [4].

Global Asset Market Performance 10 - Year Treasury Yields of Major Economies - On October 14, 2025, the 10 - year Treasury yields of the US, UK, France, etc. were 4.034, 4.674, 3.478 respectively [3]. - The latest changes for all economies were 0.000; weekly changes varied from - 0.119 (Japan) to 0.233 (Brazil); monthly changes ranged from - 0.203 (New Zealand) to 0.115 (South Korea); annual changes were from - 0.314 (China) to 0.672 (UK) [3]. 2 - Year Treasury Yields of Major Economies - On October 14, 2025, the 2 - year Treasury yields of the US, UK, Germany, etc. were 3.520, 3.952, 1.957 respectively [3]. - The latest change for the US was - 0.080, others were 0.000; weekly changes were from - 0.120 (US) to 0.052 (Australia); monthly changes ranged from - 0.050 (US) to 0.174 (Australia); annual changes were from - 0.316 (Italy) to 0.530 (Japan) [3]. Dollar - to - Major Emerging Economies Currency Exchange Rates - On October 14, 2025, the exchange rates of the dollar against the Brazilian real, Russian ruble, etc. were 5.521, 108.000 respectively, with 0.00% latest changes [3]. - Weekly changes were from 0.17% (Malaysian ringgit) to 3.73% (Brazilian real); monthly changes were from 0.05% (South African rand) to 2.74% (South Korean won); annual changes were from 1.31% (Brazilian real) to 8.41% (South Korean won) [3]. Major Economies' Stock Indexes - On October 14, 2025, the values of the S&P 500, Dow Jones Industrial Average, NASDAQ, etc. were 6552.510, 45479.600, 22204.430 respectively [3]. - The latest changes were all 0.00%; weekly changes were from - 3.26% (Mexican stock index) to 6.76% (Nikkei); monthly changes were from - 0.13% (Mexican stock index) to 12.14% (South Korean stock index); annual changes were from - 11.17% (Thai stock index) to 39.23% (South Korean stock index) [3]. Credit Bond Indexes - On October 14, 2025, the values of the US investment - grade credit bond index, euro - area investment - grade credit bond index, etc. were 3529.690, 265.945 respectively [3]. - The latest changes were all 0.00%; weekly changes were from - 0.62% (US high - yield credit bond index) to 0.34% (euro - area investment - grade credit bond index); monthly changes were from - 0.23% (US high - yield credit bond index) to 0.60% (emerging economies investment - grade credit bond index); annual changes were from 3.99% (euro - area investment - grade credit bond index) to 10.95% (emerging economies high - yield credit bond index) [3]. Stock Index Futures Trading Data Index Performance - The closing prices of A - shares, CSI 300, SSE 50, etc. were 3865.23, 4539.06, 2961.10 respectively, with涨跌 of - 0.62%, - 1.20%, - 0.21% respectively [4]. Valuation - The PE(TTM) of CSI 300, SSE 50, CSI 500, etc. were 14.14, 11.84, 34.27 respectively, with环比 changes of - 0.05, 0.06, - 0.78 respectively [4]. Risk Premium - The 1/PE - 10 interest rates of CSI 300, SSE 50, CSI 500, etc. were 3.70, 5.77, - 0.38 respectively, with环比 changes of 0.00, 0.00, 0.00 respectively [4]. Fund Flows - The latest values of fund flows for A - shares, the main board, small and medium - sized enterprise board, etc. were - 2111.40, - 1261.00, - 56.21 respectively, and the 5 - day average values were - 708.51, - 422.23, - 56.21 respectively [4]. Trading Volume - The latest trading volumes of the Shanghai and Shenzhen stock markets, CSI 300, SSE 50, etc. were 25762.33, 8089.59, 2191.94 respectively, with环比 changes of 0.00, 949.57, 334.11 respectively [4]. Main Contract Premium/Discount - The basis of IF, IH, IC were - 31.86, - 2.70, - 184.85 respectively, with amplitudes of - 0.70%, - 0.09%, - 2.57% respectively [4]. Treasury Bond Futures Trading Data - The closing prices of T00, TF00, T01, TF01 were 108.170, 105.775, 107.865, 105.665 respectively, with涨跌 of 0.08%, 0.03%, 0.06%, 0.02% respectively [5]. - The R001, R007, SHIBOR - 3M were 1.3535%, 1.4736%, 1.5810% respectively, with daily changes of - 13.00 BP, - 1.00 BP, 0.00 BP respectively [5].

Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Core Viewpoints - **Methanol**: The market is trading on the logic of port pressure being transmitted to the inland. Although there is seasonal stocking demand and new device stocking increment in the inland later, the port will continuously cause reverse flow impact. Currently, the price is benchmarked against the inland price, and the inland's actions are crucial. Xingxing is expected to start operation in early September, but inventory is still accumulating. Reverse flow can relieve port pressure but will impact inland valuation. With average valuation, inventory, and weak drivers, it's necessary to wait before bottom - fishing [2]. - **Plastic**: For polyethylene, the inventory of the two major oil companies is neutral year - on - year. Upstream and coal - chemical industries are destocking, while social inventory remains flat. Downstream raw material and finished - product inventories are also neutral. Overall inventory is neutral. The 09 basis is around - 110 in North China and - 50 in East China. Import profit is around - 200 with no further increment for now. Pay attention to LL - HD conversion and US quotes. New device pressure is high in 2025, so focus on new device commissioning [6]. - **PP**: For polypropylene, upstream and mid - stream inventories are decreasing. In terms of valuation, the basis is - 60, non - standard price difference is neutral, and import profit is around - 700. Exports have been good this year. Non - standard price difference is neutral. PDH profit is around - 400, propylene is fluctuating, and powder production start - up is stable. Subsequent supply is expected to increase slightly. Downstream orders are average, and raw material and finished - product inventories are neutral. Under the background of over - capacity, the 01 contract is under moderate to excessive pressure. If exports continue to increase or there are many PDH device overhauls, supply pressure can be relieved to a neutral level [8]. - **PVC**: The basis of the 01 contract is maintained at - 270, and the factory - delivery basis is - 480. Downstream start - up is seasonally weakening, but the willingness to hold goods at low prices is strong. Mid - and upstream inventories are continuously accumulating. In summer, Northwest devices have seasonal overhauls, and the load center is between the spring overhaul and Q1 high - production levels. In Q4, focus on production capacity commissioning and export continuity. Near - term export orders have slightly declined. Coal sentiment is positive, and the cost of semi - coke is stable. Calcium carbide's profit is under pressure due to PVC overhauls. The FOB counter - offer for caustic soda exports is 380. PVC's comprehensive profit is - 100. Currently, the static inventory contradiction is accumulating slowly, cost is stable, downstream performance is average, and the macro - environment is neutral. Pay attention to exports, coal prices, commercial housing sales, terminal orders, and start - up [8]. 3. Summary by Product Methanol - **Price Data**: From September 30, 2025, to October 14, 2025, the price of动力煤期货 remained at 801. The price of江苏现货 decreased from 2261 to 2285, 华南现货 decreased from 2248 to 2270, 鲁南折盘面 decreased from 2545 to 2500, 西南折盘面 decreased from 2525 to 2500, 西北折盘面 decreased from 2695 to 2683. The import profit remained at 326, and the盘面MTO profit remained at - 1255 [2]. Plastic - **Price Data**: From September 30, 2025, to October 14, 2025, the price of东北亚乙烯 decreased from 810 to 785, 华北LL decreased from 7080 to 6890, 华东LL decreased from 7215 to 7075, 华东LD remained at 9500 (except for a short - term increase to 9525), 华东HD remained at 7350 (except for a decrease to 7250 on October 14). The import profit was - 6 on September 30 and - 6 on October 14, with fluctuations in between. The主力期货 decreased from 7153 to 6918, and the仓 single decreased from 12736 to 12717 [6]. PP - **Price Data**: From September 30, 2025, to October 14, 2025, the price of山东丙烯 increased from 6350 to 6260 (with fluctuations), 华东PP decreased from 6720 to 6540, 华北PP decreased from 6740 to 6570, 山东粉料 decreased from 6670 to 6520, 华东共聚 decreased from 7002 to 6916. The export profit remained at - 21 on September 30 and October 14, with fluctuations in between. The主力期货 decreased from 6852 to 6602, and the仓 single decreased from 14098 to 13814 [8]. PVC - **Price Data**: From September 30, 2025, to October 14, 2025, the price of西北电石 decreased from 2550 to 2425, 山东烧碱 decreased from 807 to 835 (with fluctuations). The price of电石法 - 华东 remained at 4640 (except for an increase to 4660 on October 10), 乙烯法 - 华东 remained at 5500, 电石法 - 华南 remained at 5450, 电石法 - 西北 decreased from 4400 to 4370. The进口美金价 (CFR中国) remained at 700, and the出口 profit remained at 419 on October 13 and 14 [8].

Report Industry Investment Rating - Not provided Core Viewpoints - Not provided Glass Summary Price and Spread - From Oct 9 to Oct 14, prices of various 5mm glass products in different regions decreased, e.g., the price of 5mm large - plate glass from Shahe Anquan dropped from 1241.0 to 1181.0, a weekly decrease of 60.0 and a daily decrease of 17.0 [2]. - FG01 and FG05 contract prices also declined during the same period, with FG01 dropping from 1218.0 to 1138.0 (weekly - 80.0, daily - 41.0) and FG05 from 1338.0 to 1280.0 (weekly - 58.0, daily - 33.0) [2]. - The FG 1 - 5 spread widened from - 120.0 to - 142.0, a weekly change of - 22.0 and a daily change of - 8.0 [2]. Profit and Basis - Profits of different production methods and regions varied. For example, North China coal - fired profit decreased from 302.3 to 265.1 (weekly - 37.2, daily - 7.0), and 01FG盘面 natural gas profit dropped from - 149.8 to - 226.4 (weekly - 76.6, daily - 38.3) [2]. - The 01 Hebei basis changed from - 24.0 to 26.0 (weekly 50.0, daily 32.0), and the 01 Hubei basis changed from - 68.0 to - 28.0 (weekly 40.0, daily 1.0) [2]. Production and Sales - Shahe factory glass production and sales were weak, but the sales of Shahe traders at low - price levels (around 1173) improved slightly. In Hubei, factory transactions weakened [2]. - The production - sales ratios were 43 in Shahe, 62 in Hubei, 95 in East China, and 86 in South China [2]. Soda Ash Summary Price and Spread - From Oct 9 to Oct 14, the prices of heavy and light soda ash in different regions showed mixed trends. For example, the price of heavy soda ash in Shahe decreased from 1170.0 to 1180.0 (weekly - 10.0, daily - 20.0), while that in Central China increased from 1160.0 to 1190.0 (weekly 10.0, daily - 20.0) [2]. - SA01, SA05, and SA09 contract prices all declined, with SA01 dropping from 1250.0 to 1234.0 (weekly - 16.0, daily - 13.0), SA05 from 1344.0 to 1321.0 (weekly - 23.0, daily - 15.0), and SA09 from 1409.0 to 1389.0 (weekly - 20.0, daily - 17.0) [2]. - The SA01 - SA05 spread changed from - 94.0 to - 87.0, a weekly change of 7.0 and a daily change of 2.0 [2]. Profit and Basis - Profits of different production methods in North China decreased. North China ammonia - soda profit decreased from - 207.6 to - 220.9 (weekly - 13.4, daily - 23.8), and North China combined - soda profit decreased from - 231.4 to - 242.3 (weekly - 11.0, daily - 23.1) [2]. - The SA01 Shahe basis changed from - 80.0 to - 74.0 (weekly 6.0, daily - 7.0) [2]. Industry Situation - The spot price of heavy soda ash at Hebei delivery warehouses was around 1140, and the price delivered to Shahe was around 1170 [2]. - Factory inventories of soda ash were accumulating [2].