Group 1: Report Industry Investment Rating - No information provided Group 2: Core View of the Report - No information provided Group 3: Summary of Spot Market Information - Different varieties of iron ore have different price changes. For example, Newman powder is priced at 794, with no daily change and a weekly increase of 2 [1]. - Import profits also vary by variety. For instance, the import profit of Newman powder is -13.57 [1]. - Domestic ore, such as Tangshan iron concentrate powder, is priced at 1013, with no daily change and a weekly decrease of 1 [1]. Group 4: Summary of Futures Market Information - For exchange contracts, i2601 is priced at 800.5, with a daily decrease of 0.5 and a weekly increase of 6.5 [1]. - The monthly spreads and their changes are also presented. For example, the monthly spread of i2601 is -49.0, with a daily increase of 0.5 and a weekly decrease of 5.4 [1]. - The prices and changes of foreign exchange contracts like FE01 are also included. FE01 is priced at 103.57, with a daily increase of 1.37 and a weekly increase of 1.74 [1].

Report Industry Investment Rating - Not provided Core Viewpoints - For PTA, maintain high maintenance, downstream has no obvious pressure, India revokes BIS certification, TA inventory accumulation slope is not high, far - month production is limited, PX pattern is good, focus on buying low for positive spread and expanding processing fees opportunities [2] - For MEG, supply reduction and high polyester operation may slow down inventory accumulation, coal - made profit is low, valuation compression space is limited, focus on short - term selling put options; long - term pattern is weak due to new device launch and warehouse receipt pressure [4] - For polyester staple fiber, short - term inventory pressure is limited due to high export, but long - term pattern may weaken as downstream enters off - season and new devices are approaching, current processing fee is neutral, focus on warehouse receipt situation [4] - For natural rubber and 20 - grade rubber, national explicit inventory is stable and at a low level, Thai cup - lump price is stable with rainfall affecting tapping, strategy is to wait and see [4] PTA - PTA spot average daily trading basis for 2601 is - 34, Honggang's 2.5 million - ton device restarts [2] - Near - end TA device restarts, operation rate rises, polyester load slightly increases, inventory decreases, basis strengthens, spot processing fee weakens; PX domestic operation rate drops, overseas devices reduce load, PXN strengthens, disproportionation benefit is weak, isomerization benefit is stable, US - Asia aromatic hydrocarbon spread shrinks [2] MEG - MEG spot basis for 01 is around - 2, Shenghong's 900,000 - ton device restarts [4] - Near - end domestic coal - chemical devices restart, operation rate rises, overseas devices are under maintenance, port inventory is stable at the beginning of the week with low arrival forecast, basis weakens, coal - made profit improves slightly [4] Polyester Staple Fiber - Spot price is around 6347, market basis for 01 is around - 100, no device maintenance information [4] - Near - end device operation is stable, operation rate is 97.5%, sales improve slightly, inventory decreases. Downstream yarn operation rate is stable, raw material inventory decreases and finished product inventory increases, profit is maintained [4] Natural Rubber and 20 - grade Rubber - There are daily and weekly changes in various prices such as spot prices of Thai standard and mixed rubber, Shanghai full - latex, etc. [4] - There are also changes in spreads and processing profits, and the Shanghai Futures Exchange RU warehouse receipt remains unchanged at 41,400 [4] Styrene - There are daily changes in prices of ethylene, pure benzene, styrene and its downstream products such as PS, ABS [7] - There are also changes in Asian spreads and domestic profits of styrene, EPS, PS, ABS [7]

研究中心农产品团队 2025/12/03 | 白糖 | | 现货价格 | | 基差 | | 进口利润 | 仓单 | | --- | --- | --- | --- | --- | --- | --- | --- | | 日期 | 柳州 | 南宁 | 昆明 | 柳州基差 | 泰国 | 巴西 | 郑盘 | | 2025/11/26 | 5615 | 5470 | 5480 | 236 | 268 | 448 | 7876 | | 2025/11/27 | 3086 | 5470 | 5455 | -2317 | - | - | 258 | | 2025/11/28 | 5615 | 5470 | 5455 | 215 | 248 | 428 | 183 | | 2025/12/01 | 5585 | 5470 | 5425 | 180 | 349 | 529 | 183 | | 2025/12/02 | 5565 | 5470 | 5415 | 183 | 267 | 446 | - | | 变化 | -20 | 0 | -10 | 3 | -82 | -83 | - | 【行情分析】： 白糖：短期郑糖受进口配额 ...

Group 1: Implied Volatility Index and Historical Volatility - The financial option implied volatility index reflects the 30 - day implied volatility trend as of the previous trading day, and the commodity option implied volatility index is weighted by the implied volatilities of the two - strike options above and below the at - the - money option of the main contract, reflecting the implied volatility change trend of the main contract [3] - The difference between the implied volatility index and historical volatility indicates the relative level of implied volatility to historical volatility. A larger difference means higher implied volatility relative to historical volatility, and a smaller difference means lower [3] Group 2: Implied Volatility and Historical Volatility Difference Chart - The chart shows the IV - HV differences of various financial and commodity options, including 300股指, 50ETF, 1000股指, 500ETF, and many commodity options such as soybean meal, corn, sugar, cotton, etc [4] Group 3: Implied Volatility Quantile and Volatility Spread Quantile Ranking - Implied volatility quantiles represent the current implied volatility level of a variety in history. A high quantile means high current implied volatility, and a low quantile means low [5] - The document presents the implied volatility quantile rankings and historical volatility quantile rankings of different varieties such as PTA, 50ETF, 300股指, etc [6]

Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Core View of the Report - This week, oil prices fluctuated. The explosion at the CPC core berth over the weekend led to an interruption in exports on the 28th and 29th, which is expected to impact short - term crude oil exports from Kazakhstan and Russia, and the crude oil calendar spread is expected to rebound. However, the specific impact assessment still depends on whether the attacks continue. - The market expects OPEC to maintain the decision to suspend production increases in the first quarter. Global on - land inventories have increased, while the total on - land and water inventories have slightly decreased. U.S. EIA commercial crude oil inventories have increased, as have gasoline and diesel inventories, while diesel inventories in Singapore and ARA have significantly decreased. - Recently, the refinery operations in Europe and the United States have been boosted, and the Russia - Ukraine peace talks have entered specific details. In the short term, the European diesel crack spread has declined significantly due to market sentiment, but the fundamentals still provide support. It is expected that there is still room for the gasoline - diesel price spread to repair downward. - In the fourth quarter, the Brent price range is $55 - 65 per barrel. The short - term valuation deviation is not high, and a high - selling strategy is maintained. Recently, attention should be paid to whether the CPC oil export interruption continues, and the short - term Brent calendar spread is likely to strengthen [6][7]. 3. Summary by Related Catalogs 3.1 Price Data - **Crude Oil and Related Products**: From November 25 to December 1, 2025, WTI increased by $0.77, BRENT increased by $0.79, and DUBAI decreased by $0.67. Other related spreads and differentials also showed corresponding changes [3]. - **Domestic Products**: From November 25 to December 1, 2025, OMAN increased by $0.52, domestic gasoline decreased by 30 yuan/ton, and domestic diesel decreased by 44 yuan/ton [3]. - **Other Products**: There were also changes in the prices and spreads of Japanese naphtha, Singapore fuel oil, and other products during this period [3]. 3.2 News - **Demand for Russian Oil**: The CEO of VTB Bank stated that the global demand for Russian oil is strong, and customers including India will find ways to purchase Russian oil [3]. - **Shipping Incidents**: A third oil tanker related to Russia exploded at sea. The "Mersin" tanker's engine room was flooded, but the hull was stable, the crew was safe, and no pollution accident occurred [3]. - **OPEC+ Production Decision**: Energy research company Rystad Energy analyzed that OPEC+'s decision to maintain stable oil production is likely to be affected by geopolitical uncertainties involving Russia and Venezuela. The organization is closely monitoring the peace talks to end the Ukraine conflict and the escalating tensions between the United States and Venezuela, both of which may pose risks to global oil supply [4]. - **Pipeline Loading**: The Caspian Pipeline Consortium announced that a docking point has resumed crude oil loading [4]. 3.3 Inventory Data - **U.S. Inventories**: - API data for the week ending November 21 showed a decrease of 1.859 million barrels in crude oil inventories, an increase of 0.539 million barrels in gasoline inventories, and an increase of 0.753 million barrels in refined oil inventories compared to the previous period. - EIA data for the week ending November 21 showed a decrease of 560,000 barrels per day in U.S. crude oil exports, a decrease of 20,000 barrels in domestic crude oil production, an increase of 2.774 million barrels in commercial crude oil inventories excluding strategic reserves (a 0.65% increase), a 0.05% decrease in the four - week average supply of U.S. crude oil products compared to the same period last year, an increase of 498,000 barrels in the Strategic Petroleum Reserve (SPR) inventory (a 0.12% increase), and an increase of 486,000 barrels per day in commercial crude oil imports excluding strategic reserves compared to the previous week [5][6]. - **Domestic Gasoline and Diesel Inventories**: From November 14 - 20, both gasoline and diesel inventories decreased. Gasoline inventories were 10.2331 million tons, a 1.75% decrease, and diesel inventories were 12.2708 million tons, a 4.25% decrease. The comprehensive refining profit of major refineries rebounded month - on - month, while the comprehensive profit of local refineries fluctuated [6]. - **Fujairah Inventories**: As of the week ending November 24, the total refined oil inventory in Fujairah, UAE increased by 197,000 barrels. Light distillate inventories decreased by 934,000 barrels to 6.291 million barrels, medium distillate inventories increased by 205,000 barrels to 3.393 million barrels, and heavy residual fuel oil inventories increased by 926,000 barrels to 11.165 million barrels [6].

Report Overview - The report is a morning report on glass and soda ash, issued on December 2, 2025, by the Energy and Chemicals Team of the Research Center [1] Glass Section Price and Contract Information - For 5mm glass plates, prices in different regions showed various trends from November 24 to December 1. For example, the price of Shahe Anquan 5mm large plate increased from 1044.0 to 1061.0, with a weekly change of 17.0 and no daily change on December 1. FG05 contract price was 1161.0 on December 1, with a weekly change of 3.0 and a daily change of -9.0 [1] Profit and Cost - North China coal - fired glass profit increased from 73.3 to 128.8, with a weekly change of 55.5 and a daily change of 16.1. North China coal - fired cost decreased from 936.7 to 924.2, with a weekly change of -12.5 and a daily change of -7.1. South China natural gas glass profit remained at -188.1, while North China natural gas glass profit improved from -331.5 to -285.4, with a weekly change of 46.2 and a daily change of 13.2 [1] Market Conditions - Shahe factory's glass sales slightly weakened. The low - price of Shahe traders' glass was around 1053, with average sales, and poor futures - spot sales. In Hubei, the factory price was around 1030, with fair transactions. The sales rates were 97 in Shahe, 112 in Hubei, 96 in East China, and 112 in South China [1] Soda Ash Section Price and Contract Information - Soda ash prices in different regions also had different trends. For example, Shahe heavy soda ash price was 1150.0 on December 1, with no weekly change and a daily change of -10.0. SA05 contract price was 1243.0 on December 1, with a weekly change of -6.0 and a daily change of 8.0 [1] Profit and Cost - North China ammonia - soda process profit decreased from -297.0 to -311.9, with a weekly change of 1.5 and a daily change of -14.9. North China combined - soda process profit decreased from -448.5 to -464.3, with a weekly change of -19.2 and a daily change of -15.8 [1] Market Conditions - The spot price of heavy soda ash at the Hebei delivery warehouse was around 1130, and the delivered price to Shahe was around 1150. The inventory of the mid - and upstream of the soda ash industry continued to decline [1]

Report Information - Report Title: Coke Daily Report - Report Date: December 2, 2025 - Research Team: Black Team of the Research Center [1] Report Highlights 1. Price Changes - **Coke Prices**: The price of Shanxi quasi - first wet - quenched coke is 1594.81, with a daily and weekly change of - 54.61, a monthly change of 57.81, and a year - on - year change of - 9.99%. The price of Hebei quasi - first dry - quenched coke is 1900.00, with no daily or weekly change, a monthly change of 110.00, and a year - on - year change of 11.11%. Similar price data are provided for Shandong, Jiangsu, and Inner Mongolia coke [2]. 2. Production and Utilization Rates - **Blast Furnace and Coking**: The blast furnace开工率 is 87.98, with a weekly change of - 0.60, a monthly change of - 0.63, and a year - on - year change of - 0.62%. The coking capacity utilization rate is 71.10, with no weekly change, a monthly change of - 2.06, and a year - on - year change of - 2.83%. The daily iron water output is 234.68, with a weekly change of - 1.60, a monthly change of - 1.68, and a year - on - year change of 0.35%. The daily coke output is 52.86, with a weekly change of - 0.03, a monthly change of - 0.44, and a year - on - year change of - 0.23% [2]. 3. Inventory Data - **Coke Inventories**: Coking plant inventory is 45.21, with a weekly change of 1.77, a monthly change of 7.69, and a year - on - year change of 2.35%. Port inventory is 187.40, with a weekly change of - 5.60, a monthly change of - 23.70, and a year - on - year change of 8.81%. Steel mill inventory is 625.52, with a weekly change of 3.18, a monthly change of - 3.53, and a year - on - year change of 3.59%. Steel mill inventory days are 11.29, with a weekly change of 0.24, a monthly change of - 0.28, and a year - on - year change of - 3.91% [2]. 4. Futures Market Data - **Futures and Basis**: The prices of futures contracts (05, 09, 01) and their daily, weekly, monthly, and year - on - year changes are provided. The basis data for these contracts (05, 09, 01) and the spread data (5 - 9, 9 - 1, 1 - 5) and their corresponding changes are also presented [2]. 5. Historical Price Charts - **Price Trends**: Historical price charts for coke in different regions (Linfen, Lvliang, Rizhao Port, Changzhi, Qingdao Port, Tianjin Port) from 2021 - 2025 are provided, as well as charts for related production, inventory, and profit indicators during the same period [3][4][5][6][7][8]

Report Information - Report Title: Coking Coal Daily Report - Research Team: Black Team of the Research Center - Date: December 2, 2025 [1] Key Points Price Information - **Domestic Coking Coal**: The latest price of Liulin Main Coking Coal is 1505.00, with no daily change, a weekly decrease of 140.00, a monthly decrease of 140.00, and an annual decrease of 3.53%. The price of Anze Main Coking Coal is 1580.00, with no daily change, a weekly decrease of 80.00, a monthly decrease of 20.00, and an annual increase of 1.28%. The price of Shaheyi Meng 5 is 1420.00, with a daily decrease of 80.00, a weekly decrease of 90.00, a monthly decrease of 50.00, and an annual decrease of 8.39%. The price of Raw Coal Port Delivery Price is 1000.00, with a daily increase of 26.00, a weekly decrease of 10.00, a monthly decrease of 170.00, and an annual decrease of 3.85% [2]. - **Imported Coking Coal**: The price of Peak Downs is 215.00, with no daily change, a weekly increase of 1.00, a monthly increase of 3.50, and an annual decrease of 2.80%. The price of Goonyella is 214.00, with no daily change, a weekly increase of 1.00, a monthly increase of 2.50, and an annual decrease of 3.80% [2]. - **Futures Market**: The price of Futures Contract 05 is 1164.00, with a daily increase of 12.00, a weekly decrease of 24.50, a monthly decrease of 185.00, and an annual decrease of 9.70%. The price of Futures Contract 09 is 1235.00, with a daily increase of 15.50, a weekly decrease of 18.50, a monthly decrease of 178.50, and an annual decrease of 7.59%. The price of Futures Contract 01 is 1076.50, with a daily increase of 12.50, a weekly decrease of 20.50, a monthly decrease of 209.00, and an annual decrease of 13.78% [2]. Inventory Information - **Total Inventory**: The total inventory is 3458.26, with a weekly increase of 81.25, a monthly increase of 151.42, and an annual decrease of 13.69% [2]. - **Coal Mine Inventory**: The coal mine inventory is 223.92, with a weekly increase of 38.00, a monthly increase of 59.39, and an annual decrease of 31.65% [2]. - **Port Inventory**: The port inventory is 291.50, with a weekly decrease of 7.00, a monthly increase of 15.85, and an annual decrease of 37.81% [2]. - **Steel Mill Coking Coal Inventory**: The steel mill coking coal inventory is 797.08, with a weekly increase of 6.91, a monthly increase of 14.12, and an annual increase of 7.15% [2]. - **Coking Plant Coking Coal Inventory**: The coking plant coking coal inventory is 1038.19, with a weekly decrease of 30.78, a monthly increase of 8.49, and an annual increase of 13.27% [2]. Other Information - **Coking Capacity Utilization**: The coking capacity utilization is 72.95, with a weekly increase of 1.24, a monthly decrease of 0.49, and an annual decrease of 1.14% [2]. - **Coking Coke Inventory**: The coking coke inventory is 85.42, with a weekly increase of 0.19, a monthly increase of 0.21, and an annual decrease of 1.10% [2]. - **Basis and Spread**: The 05 basis is -80.32, with a daily decrease of 155.68, a weekly decrease of 119.18, a monthly decrease of 75.92, and an annual decrease of 35.92%. The 09 basis is -151.32, with a daily decrease of 159.18, a weekly decrease of 125.18, a monthly decrease of 82.42, and an annual increase of 0.65%. The 01 basis is 7.18, with a daily decrease of 156.18, a weekly decrease of 123.18, a monthly decrease of 51.92, and an annual decrease of 2.84%. The 5 - 9 spread is -71.00, with a daily decrease of 3.50, a weekly decrease of 6.00, a monthly decrease of 6.50, and an annual increase of 0.49%. The 9 - 1 spread is 158.50, with a daily increase of 3.00, a weekly increase of 2.00, a monthly increase of 30.50, and an annual increase of 0.80%. The 1 - 5 spread is -87.50, with a daily increase of 0.50, a weekly increase of 4.00, a monthly decrease of 24.00, and an annual increase of 1.16% [2]

Report Summary 1. Industry Investment Rating No industry investment rating is provided in the report. 2. Core Viewpoints - This week, the high - sulfur cracking in Singapore weakened on Friday after fluctuating, with the monthly spread running at a historical low and the basis weakening and then oscillating at a historical low. The HSFO cracking in Europe oscillated at a low level, and the EW weakened on Friday. The 0.5% cracking in Singapore continued to weaken this week, with the monthly spread weakening and the basis oscillating at a low level [3]. - In terms of inventory, Singapore's residue oil had a slight inventory build - up, high - sulfur floating storage had a significant inventory build - up, ARA's residue oil had inventory draw - down, Fujairah's residue oil had inventory build - up, high - sulfur floating storage oscillated at a high level, and EIA's residue oil had a slight inventory draw - down [3]. - With the strengthening expectation of Russia - Ukraine peace talks, the cracking of gasoline and diesel in the external market continued to decline this week, and the price difference between low - sulfur and diesel continued to rebound. After the fire at Al Zour refinery on October 21st and its subsequent shutdown, the RFCC unit of Dangote refinery is expected to enter maintenance in December, and VGO exports are expected to increase. The global heavy oil has entered the off - season with inventory build - up. The external cracking is subject to crude oil fluctuations, and there is no improvement in the spot market. FU01 should be treated bearishly. The low - sulfur valuation is low but lacks a driving force [4]. 3. Data Summaries Rotterdam Fuel Oil Swap Data | Product | 2025/11/25 | 2025/11/26 | 2025/11/27 | 2025/11/28 | 2025/12/01 | Change | | --- | --- | --- | --- | --- | --- | --- | | Rotterdam 3.5% HSF O Swap M1 | 339.09 | 345.00 | 351.22 | 353.76 | 351.92 | -1.84 | | Rotterdam 0.5% VLS FO Swap M1 | 385.63 | 390.40 | 390.78 | 391.86 | 395.42 | 3.56 | | Rotterdam HSFO - Brent M1 | -8.01 | -7.55 | -7.41 | -7.40 | -7.51 | -0.11 | | Rotterdam 10ppm Gasoil Swap M1 | 648.85 | 639.56 | 651.68 | 658.00 | 643.93 | -14.07 | | Rotterdam VLSFO - Gasoil M1 | -263.22 | -249.16 | -260.90 | -266.14 | -248.51 | 17.63 | | LGO - Brent M1 | 25.67 | 24.29 | 25.79 | 26.28 | 25.52 | -0.76 | | Rotterdam VLSFO - HSFO M1 | 46.54 | 45.40 | 39.56 | 38.10 | 43.50 | 5.40 | [1] Singapore Fuel Oil Data | Product | 2025/11/25 | 2025/11/26 | 2025/11/27 | 2025/11/28 | 2025/12/01 | Change | | --- | --- | --- | --- | --- | --- | --- | | Singapore 380cst M1 | 345.55 | 341.18 | 342.10 | 348.03 | 347.90 | -0.13 | | Singapore 180cst M1 | 352.99 | 353.51 | 350.60 | 356.03 | 355.44 | -0.59 | | Singapore VLSFO M1 | 423.05 | 416.41 | 422.25 | 421.50 | 425.66 | 4.16 | | Singapore GO M1 | 86.59 | 84.88 | 84.90 | 86.78 | 85.73 | -1.05 | | Singapore 380cst - Brent M1 | -7.95 | -7.91 | -8.58 | -8.40 | -8.14 | 0.26 | | Singapore VLSFO - Gasoil M1 | -217.72 | -211.70 | -206.01 | -220.67 | -208.74 | 11.93 | [1] Singapore Fuel Oil Spot Data | Product | 2025/11/25 | 2025/11/26 | 2025/11/27 | 2025/11/28 | 2025/12/01 | Change | | --- | --- | --- | --- | --- | --- | --- | | FOB 380cst | 342.03 | 336.87 | 338.12 | 343.20 | 338.62 | -4.58 | | FOB VLSFO | 422.33 | 416.44 | 422.42 | 421.10 | 425.18 | 4.08 | | 380 Basis | -3.25 | -3.45 | -4.68 | -5.37 | -7.00 | -1.63 | | High - sulfur Domestic - Foreign Spread | 5.2 | 3.9 | 6.0 | 3.9 | 6.1 | 2.2 | | Low - sulfur Domestic - Foreign Spread | 4.5 | 5.8 | 2.0 | 3.7 | 1.2 | -2.5 | [2] Domestic FU Data | Product | 2025/11/25 | 2025/11/26 | 2025/11/27 | 2025/11/28 | 2025/12/01 | Change | | --- | --- | --- | --- | --- | --- | --- | | FU 01 | 2491 | 2467 | 2471 | 2501 | 2495 | -6 | | FU 05 | 2538 | 2516 | 2516 | 2554 | 2552 | -2 | | FU 09 | 2516 | 2494 | 2488 | 2525 | 2527 | 2 | | FU 01 - 05 | -47 | -49 | -45 | -53 | -57 | -4 | | FU 05 - 09 | 22 | 22 | 28 | 29 | 25 | -4 | | FU 09 - 01 | 25 | 27 | 17 | 24 | 32 | 8 | [2] Domestic LU Data | Product | 2025/11/25 | 2025/11/26 | 2025/11/27 | 2025/11/28 | 2025/12/01 | Change | | --- | --- | --- | --- | --- | --- | --- | | LU 01 | 3015 | 3023 | 3023 | 3027 | 3049 | 22 | | LU 05 | 3055 | 3023 | 3042 | 3047 | 3068 | 21 | | LU 09 | 3095 | 3073 | 3082 | 3085 | 3095 | 10 | | LU 01 - 05 | -40 | 0 | -19 | -20 | -19 | 1 | | LU 05 - 09 | -40 | -50 | -40 | -38 | -27 | 11 | | LU 09 - 01 | 80 | 50 | 59 | 58 | 46 | -12 | [3]

Report Industry Investment Rating - Not provided in the content Core Viewpoints - Not provided in the content Summary by Relevant Catalogs Price - For silicon ferroalloy, on December 2, 2025, the latest prices of Ningxia 72 and Inner Mongolia 72 were 5100 and 5170 respectively, with daily changes of 0 and 50, and weekly changes of -30 and 20. The latest prices of the main contract and 01 contract were 5466 and 5420, with daily changes of 76 and 44, and weekly changes of 10 and -4 [2]. - For silicon manganese, on December 2, 2025, the latest prices of Inner Mongolia 6517, Ningxia 6517, Guangxi 6517, Guizhou 6517, and Yunnan 6517 were 5530, 5510, 5550, 5520, and 5520 respectively, with daily changes of 30, 30, 20, 20, and 20, and weekly changes of 10, 30, 20, 20, and 20. The latest price of the main contract was 5738, with a daily change of 122 and a weekly change of 108 [2]. Supply - The content shows the historical data of the production of 136 silicon ferroalloy enterprises in China (monthly and weekly, with a production capacity accounting for 95%), the production capacity utilization rate of 136 silicon ferroalloy production enterprises in Inner Mongolia, Ningxia, and Shaanxi (monthly), and the production of silicon manganese in China (weekly) [4][6]. Demand - The content presents the historical data of the estimated and actual production of crude steel in China (monthly, in ten thousand tons), the production of stainless - steel crude steel in China (monthly, in ten thousand tons), the procurement volume and price of FeSi75 - B by Hebei Iron and Steel Group (monthly), and the demand for silicon manganese in China (in ten thousand tons, according to the Steel Union's caliber) [4][6][7]. Inventory - For silicon ferroalloy, the content includes the historical data of the inventory of 60 sample enterprises in China, Ningxia, Inner Mongolia, and Shaanxi (weekly), the total number of warehouse receipts on CZCE (daily), effective forecasts (daily), and the average available days of inventory in East China, South China, the North region, and China (monthly or daily) [5]. - For silicon manganese, the content shows the historical data of the total number of warehouse receipts on CZCE (daily), effective forecasts (daily), warehouse receipts + effective forecasts (daily), the single - sided trading position on CZCE (daily, in lots), the inventory of 63 sample enterprises in China (weekly, in tons), and the average available days of inventory in China (monthly) [7]. Cost and Profit - For silicon ferroalloy, the content provides the historical data of electricity prices in Inner Mongolia, Qinghai, Ningxia, and Shaanxi, the market mainstream price of small - sized blue charcoal in Shaanxi, the start - up rate of blue charcoal in China (weekly), the production profit of blue charcoal in China (daily), the market price of 98% silica in Northwest China, the production cost and profit of silicon ferroalloy in Ningxia and Inner Mongolia, and the export profit of 75 silicon ferroalloy [5]. - For silicon manganese, the content presents the historical data of the profit of silicon manganese in Inner Mongolia, Guangxi, the North region, and the South region (according to the Steel Union's caliber), the profit of Guangxi silicon manganese converted to the main contract, and the profit of Ningxia silicon manganese converted to the contract [7].