最新 日变化 周变化 月变化 年变化 最新 日变化 周变化 月变化 年变化 秦皇岛5500 830.0 0.0 0.0 63.0 -10.0 25省终端可用天数 25.4 0.0 5.4 4.5 7.8 秦皇岛5000 737.0 0.0 0.0 60.0 -13.0 25省终端供煤 548.1 1.0 -60.4 -91.9 -74.7 广州港5500 865.0 0.0 0.0 60.0 -45.0 北方港库存 2473.0 4.0 187.0 229.0 -175.4 鄂尔多斯5500 595.0 10.0 10.0 60.0 -35.0 北方锚地船舶 117.0 -7.0 -27.0 29.0 72.0 大同5500 645.0 10.0 10.0 65.0 -65.0 北方港调入量 172.8 -8.0 9.5 25.9 -6.7 榆林6000 732.0 0.0 20.0 50.0 -103.0 北方港吞吐量 107.6 -16.2 -74.8 -32.5 -43.1 榆林6200 760.0 0.0 20.0 50.0 -103.0 CBCFI海运指数 1008.5 -0.5 -136.1 88 ...

研究中心农产品团队 2025/11/21 | 玉米/淀粉 | | 玉米 | | | | | 淀粉 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 日期 长春 | 锦州 潍坊 | 蛇口 | 基差 | 贸易利润 进口盈亏 | 黑龙江 | 潍坊 | 基差 | 加工利润 | | 2025/11/14 2070 | 2160 2150 | 2330 | -25 | 20 156 | 2700 | 2800 | 150 | 9 | | 2025/11/17 2070 | 2180 2130 | 2340 | -2 | 10 - | 2700 | 2800 | 166 | -10 | | 2025/11/18 2070 | 2180 2130 | 2360 | 12 | 30 - | 2700 | 2800 | 188 | -10 | | 2025/11/19 2070 | 2170 2130 | 2360 | -5 | 40 185 | 2700 | 2800 | 225 | -1 | | 2025/11/20 2070 | 2170 2150 ...

有色套利早报 研究中心有色团队 2025/11/21 铜：跨市套利跟踪 2025/11/21 国内价格 LME价格 比价 现货 86425 10740 8.02 三月 86100 10759 8.03 均衡比价 盈利 现货进口 8.08 -503.28 现货出口 21.23 锌：跨市套利跟踪 2025/11/21 国内价格 LME价格 比价 现货 22420 3125 7.17 三月 22405 2990 5.77 均衡比价 盈利 现货进口 8.51 -4165.28 铝：跨市套利跟踪 2025/11/21 国内价格 LME价格 比价 现货 21570 2781 7.75 三月 21555 2812 7.68 均衡比价 盈利 现货进口 8.35 -1645.40 镍：跨市套利跟踪 2025/11/21 国内价格 LME价格 比价 现货 119950 14384 8.34 均衡比价 盈利 现货进口 8.18 -1472.02 铅：跨市套利跟踪 2025/11/21 国内价格 LME价格 比价 现货 17100 1986 8.62 三月 17235 2015 11.12 均衡比价 盈利 现货进口 8.73 -21 ...

Group 1: Report Information - Report Name: Asphalt Morning Report [2][10] - Research Team: Research Center Energy and Chemicals Team [3][11] - Report Date: November 20, 2025 [3][11] Group 2: Market Data Summary Basis and Spread - Shandong Basis (+80) (Hongrun): On November 19, it was 15, with a daily change of 17 and a weekly change of 24 [4][12] - East China Basis (Zhenjiang Warehouse): On November 19, it was 105, with a daily change of -13 and a weekly change of -16 [4][12] - South China Basis (Foshan Warehouse): On November 19, it was 35, with a daily change of -13 and a weekly change of -66 [4][12] - 12 - 01 Spread: On November 19, it was 4, with a daily change and a weekly change of 5 [4][12] - 12 - 03 Spread: On November 19, it was -46, with a daily change of 2 and a weekly change of -2 [4][12] - 01 - 02 Spread: On November 19, it was -23, with a daily change of -3 and a weekly change of -7 [4][12] Futures Contract - BU Main Contract (01): On November 19, the price was 3045, with a daily change of 13 and a weekly change of 16 [4][12] - Trading Volume: On November 19, it was 242605, with a daily change of 23474 and a weekly change of -101039 [4][12] - Open Interest: On November 19, it was 338791, with a daily change of -10853 and a weekly change of -5664 [4][12] - Delivery Quantity: It remained at 4690 from November 13 - 19 [4][12] Spot Market - Brent Crude Oil: On November 19, the price was 64.9, with a daily change of 0.7 and a weekly change of 2.2 [4][12] - Jingbo: On November 19, the price was 3030, with a daily change of 0 and a weekly change of 20 [4][12] - Hongrun: On November 19, the price was 2980, with a daily change of 30 and a weekly change of 40 [4][12] - Zhenjiang Warehouse: The price remained at 3150 from November 13 - 19 [4][12] - Foshan Warehouse: On November 19, the price was 3080, with a daily change of 0 and a weekly change of -50 [4][12] Profit - Asphalt - Marrow Profit: On November 19, it was 59, with a daily change of -32 and a weekly change of -89 [4][12] - Marrow - type Refinery Comprehensive Profit: On November 19, it was 654, with a daily change of -93 [5][13]

Group 1: Report Industry Investment Rating - No relevant content found Group 2: Report Core Views - This week, copper prices fluctuated narrowly. Supported by the precious metals market, copper prices were strong in the first half of the week and adjusted on Friday. The downstream point - pricing volume rebounded significantly. The price around 85,000 may be the psychological price for downstream point - pricing [1]. - Overseas production suspension news and expectations boosted the domestic aluminum price, which was stronger than the overseas price. Short - term profit - taking led to a correction in the Shanghai aluminum futures. Aluminum ingots continued to accumulate inventory, while aluminum rods, sheets, and foils slightly reduced inventory. The downstream consumption was okay, and the acceptance of high prices increased. In the short term, it may show a fluctuating trend [1][2]. - This week, zinc prices fluctuated. The domestic and imported TC decreased further this week. The domestic zinc ore will be tighter from the fourth quarter to the first quarter of next year. The processing fee has dropped significantly. The demand is seasonally weak domestically, while overseas, the demand in Europe is average and the growth rate in the Middle East is high. The price center may be difficult to decline deeply. In the short term, it is recommended to wait and see for unilateral trading; pay attention to the reverse arbitrage opportunity and be cautious when increasing positions; for the month - spread, pay attention to the positive arbitrage opportunity of 01 - 03 [5]. - Nickel prices decreased this week. The supply of pure nickel decreased slightly month - on - month, the demand was weak overall, and the inventory continued to accumulate at home and abroad. There are continuous disturbances at the Indonesian ore end, and the policy side has the motivation to support prices. Pay attention to the short - selling opportunities [6]. - Stainless steel prices were weak. The steel mill's production plan in October increased slightly month - on - month, the demand was mainly for rigid needs, the cost remained stable, and the inventory remained at a high level. The Indonesian policy side has the motivation to support prices. Pay attention to the short - selling opportunities [7]. - This week, lead prices fluctuated at a high level. The supply of primary and recycled lead was tight, and the supply - demand mismatch was serious. Now the resumption of recycled lead production has alleviated some of the contradictions, and the social inventory has increased. The demand is expected to weaken. It is expected that the lead price will fluctuate narrowly next week, and it is recommended to wait and see [9]. - This week, tin prices increased. The processing fee of tin ore remained at a low level, and the supply has been marginally repaired. The overseas output is still controversial. The demand is mainly rigid, and the overseas LME inventory has recovered. In the short term, it follows the macro - sentiment. In the long - term, the supply will increase, but the elasticity is limited. It is recommended to hold at a low price close to the cost or use it as a long - position allocation in non - ferrous metals [11]. - This week, the price of industrial silicon was stable. The production in the northwest region was basically stable, and the overall change was small. In the fourth quarter, the supply and demand of industrial silicon are expected to be in a balanced and slightly loose state. In the short term, the price is expected to fluctuate; in the long - term, the price is expected to fluctuate at the bottom of the cycle [15]. - Affected by the lithium - battery demand expectation and the market's bullish sentiment, the price of lithium carbonate was strong. The upstream inventory has been significantly reduced, and the downstream inventory is still relatively sufficient. The basis has slightly weakened. In the long - term, if the energy - storage demand remains high and the power demand is stable, the pattern of lithium carbonate may change in the next 1 - 2 years [17]. Group 3: Summary According to Related Catalogs Copper - **Price and Inventory**: From November 13th to 19th, the Shanghai copper spot price changed from 55 to 95, the waste - refined copper price difference increased by 130, the LME inventory increased by 17,375, and the LME注销仓单 increased by 800 [1]. - **Market Analysis**: This week, copper prices fluctuated narrowly. Supported by the precious metals market, copper prices were strong in the first half of the week and adjusted on Friday. The downstream point - pricing volume rebounded significantly. The price around 85,000 may be the psychological price for downstream point - pricing [1]. Aluminum - **Price and Inventory**: From November 13th to 19th, the Shanghai aluminum ingot price decreased by 90, the domestic alumina price decreased by 5, the aluminum LME inventory decreased by 2,000, and the aluminum LME注销仓单 increased by 29,450 [1]. - **Market Analysis**: Overseas production suspension news and expectations boosted the domestic aluminum price, which was stronger than the overseas price. Short - term profit - taking led to a correction in the Shanghai aluminum futures. Aluminum ingots continued to accumulate inventory, while aluminum rods, sheets, and foils slightly reduced inventory. The downstream consumption was okay, and the acceptance of high prices increased. In the short term, it may show a fluctuating trend [1][2]. Zinc - **Price and Inventory**: From November 13th to 19th, the Shanghai zinc ingot price increased by 100, the zinc social inventory remained unchanged, the LME zinc inventory increased by 1,550, and the LME zinc注销仓单 increased by 100 [5]. - **Supply and Demand**: The domestic and imported TC decreased further this week. The domestic zinc ore will be tighter from the fourth quarter to the first quarter of next year. The demand is seasonally weak domestically, while overseas, the demand in Europe is average and the growth rate in the Middle East is high. The export window has opened [5]. - **Strategy**: The domestic consumption of zinc is weak, but there will be a phased reduction in supply at the end of the year. The price center may be difficult to decline deeply. In the short term, it is recommended to wait and see for unilateral trading; pay attention to the reverse arbitrage opportunity and be cautious when increasing positions; for the month - spread, pay attention to the positive arbitrage opportunity of 01 - 03 [5]. Nickel - **Price and Inventory**: From November 13th to 19th, the price of 1.5% Philippine nickel ore decreased by 1, the Shanghai nickel spot price decreased by 700, the LME inventory decreased by 1,986, and the LME注销仓单 decreased by 2,238 [6]. - **Supply and Demand**: The supply of pure nickel decreased slightly month - on - month, the demand was weak overall, and the inventory continued to accumulate at home and abroad. There are continuous disturbances at the Indonesian ore end, and the policy side has the motivation to support prices [6]. Stainless Steel - **Price and Inventory**: From November 13th to 19th, the price of 304 cold - rolled coil decreased by 100, the price of waste stainless steel increased by 50 [7]. - **Supply and Demand**: The steel mill's production plan in October increased slightly month - on - month, the demand was mainly for rigid needs, the cost remained stable, and the inventory remained at a high level. The Indonesian policy side has the motivation to support prices [7]. Lead - **Price and Inventory**: From November 13th to 19th, the lead spot price increased by 10, the LME inventory decreased by 325, and the LME注销仓单 decreased by 2,500 [8][9]. - **Supply and Demand**: The supply of primary and recycled lead was tight, and the supply - demand mismatch was serious. Now the resumption of recycled lead production has alleviated some of the contradictions, and the social inventory has increased. The demand is expected to weaken [9]. - **Strategy**: It is expected that the lead price will fluctuate narrowly next week, and it is recommended to wait and see [9]. Tin - **Price and Inventory**: From November 13th to 19th, the tin spot import profit decreased by 236.31, the LME inventory increased by 60, and the LME注销仓单 decreased by 10 [10][11]. - **Supply and Demand**: The processing fee of tin ore remained at a low level, and the supply has been marginally repaired. The overseas output is still controversial. The demand is mainly rigid, and the overseas LME inventory has recovered [11]. - **Strategy**: In the short term, it follows the macro - sentiment. In the long - term, the supply will increase, but the elasticity is limited. It is recommended to hold at a low price close to the cost or use it as a long - position allocation in non - ferrous metals [11]. Industrial Silicon - **Price and Inventory**: From November 13th to 19th, the 421 Yunnan basis decreased by 410, the 421 Sichuan basis decreased by 410, the 553 East China basis decreased by 410, the 553 Tianjin basis decreased by 410, and the warehouse receipt increased by 10 [15]. - **Supply and Demand**: The production in the northwest region was basically stable, and the overall change was small. In the fourth quarter, the supply and demand of industrial silicon are expected to be in a balanced and slightly loose state [15]. - **Price Trend**: In the short term, the price is expected to fluctuate; in the long - term, the price is expected to fluctuate at the bottom of the cycle [15]. Lithium Carbonate - **Price and Inventory**: From November 13th to 19th, the SMM electric - grade lithium carbonate price increased by 1,500, the SMM industrial - grade lithium carbonate price increased by 1,450, the main - contract basis decreased by 4,280, the near - month contract basis increased by 1,500, and the warehouse receipt increased by 155 [17]. - **Supply and Demand**: The upstream inventory has been significantly reduced, and the downstream inventory is still relatively sufficient. The basis has slightly weakened [17]. - **Price Trend**: In the long - term, if the energy - storage demand remains high and the power demand is stable, the pattern of lithium carbonate may change in the next 1 - 2 years [17].

Group 1: Report Industry Investment Rating - No information provided Group 2: Core Viewpoints of the Report - This week, oil prices remained volatile. News of potential negotiations between Russia and Ukraine on Thursday and the suspension of oil exports from Russia's Novorossiysk port due to an attack on Friday caused intraday fluctuations. The fundamentals maintain a pattern of oversupply and increased uncertainty regarding Russian sanctions risks. The US sanctions on Russia will take effect on November 21, and the short - term statements of the US and Russia will affect market expectations. The US EIA commercial crude oil inventories are accumulating, and global oil is slightly de - stocking. Due to high gasoline and diesel profits, the refinery operations in Europe and the US have recently recovered, while the overhaul rate of Middle - East refineries remains relatively high. In the short term, the interruption of Russian ports supports the Dubai monthly spread, but global supply pressure and potential OPEC production - increase plans limit the upside. In the short term, the monthly spread and absolute prices will maintain a volatile pattern. In the fourth quarter, the idea of shorting on rallies is maintained [5]. Group 3: Summary by Relevant Catalogs 1. Price Data - From November 13 - 19, 2025, WTI prices decreased by $1.30, BRENT by $1.38, and DUBAI by $0.54. SC increased by 5.70, and OMAN decreased by 1.22. Other related prices such as those of refined products and differentials also had corresponding changes [3]. 2. Daily News - The Kremlin stated that it could arrange a call between Russian President Putin and US President Trump if necessary. News of the decline in the signal of the Russia - Ukraine peace process led to a drop in international oil prices. Saudi Arabia's crude oil exports in September reached a seven - month high, and production hit a two - and - a - half - year peak [3][4]. 3. Inventory - In the week of November 07, US crude oil exports decreased by 1.551 million barrels per day, domestic production increased by 211,000 barrels, commercial crude oil inventories (excluding strategic reserves) increased by 6.413 million barrels, strategic petroleum reserve (SPR) inventories increased by 798,000 barrels, and commercial crude oil imports decreased by 702,000 barrels per day. UAE's Fujaidira Port's refined oil inventory increased by 3.204 million barrels in the week of November 12. Japan's commercial crude oil inventory decreased by 353,966 kiloliters in the week of November 08. From November 7 - 13, both gasoline and diesel inventories decreased [5].

Group 1: SP Main Contract Information - The closing price of the SP main contract on November 19, 2025, was 5396.00, with a change of -0.22189% from the previous day [3]. - The closing prices and related data from November 13 - 19, 2025, are presented, showing price fluctuations and changes in basis and dollar - converted prices [3]. Group 2: Import Profitability - With a 13% VAT calculation, the import profit for Canadian Golden Lion pulp is - 136.75, for Canadian Lion pulp is - 425.04, and for Chilean Silver Star pulp is 16.68 [4]. - The calculation is based on port dollar prices, Shandong region RMB prices, and the previous day's exchange rate of 7.11 [4]. Group 3: Pulp and Paper Price Averages - From November 13 - 19, 2025, the national and Shandong region average prices of different types of pulp (coniferous, broad - leaf, etc.) remained unchanged [4]. - The prices of cultural paper, packaging paper, and living paper also showed no change during this period [4]. Group 4: Profit Margin Estimates - The profit margin estimates for different types of paper (double - offset, double - copper, etc.) remained stable from November 14 - 19, 2025 [4]. Group 5: Price Spreads - The price spreads between different types of pulp (coniferous - broadleaf, coniferous -本色, etc.) are presented, with some showing minor changes from November 13 - 19, 2025 [4].

Price Performance - London Gold's latest price is 4126.95 with a change of 66.10 [1] - London Silver's latest price is 52.20 with a change of 1.90 [1] - London Platinum's latest price is 1534.00 with a change of -3.00 [1] - London Palladium's latest price is 1411.00 with a change of 26.00 [1] - WTI Crude's latest price is 60.74 with a change of 0.00 [1] - LME Copper's latest price is 10742.00 with a change of 60.00 [1] - US Dollar Index's latest value is 100.12 with a change of 0.53 [1] - Euro to US Dollar's latest rate is 1.15 with a change of -0.00 [1] - British Pound to US Dollar's latest rate is 1.31 with a change of -0.01 [1] - US Dollar to Japanese Yen's latest rate is 157.18 with a change of 1.66 [1] - US 10 - year TIPS's latest value is 1.85 with a change of 0.00 [1] Trading Data - COMEX Silver inventory's latest value is 14386.29 with a change of -93.47 [1] - SHFE Silver inventory's latest value is 547.69 with a change of -15.98 [1] - Gold ETF持仓's latest value is 1043.72 with a change of 2.29 [1] - Silver ETF持仓's latest value is 15226.88 with a change of 8.46 [1] - SGE Silver inventory's latest value is 830.31 with a change of 0.00 [1] - SGE Gold deferred fee payment direction's latest value is 2 with a change of 1.00 [1] - SGE Silver deferred fee payment direction's latest value is 1 with a change of -1.00 [1] Data Source - The data in the above charts are from Bloomberg, Yong'an Yuandian Information, and Wind [4]

Group 1: Investment Ratings - There is no information about the industry investment rating in the report. Group 2: Core Views - Methanol: The current situation remains poor. Iran's plant shutdown is slower than expected, and imports are likely to remain high in November. The contradiction in the 01 contract is difficult to resolve. The issue of port sanctions is expected to be resolved before the end of gas restrictions, but inventory reduction is difficult. Methanol has limited upside potential, and the downside space depends on the situation in the inland region. Recently, coal prices have strengthened, but it has no impact on profits [1]. - Polyethylene: The overall inventory is neutral. The 09 basis is around -110 in North China and -50 in East China. The external market in Europe, America, and Southeast Asia is stable. The import profit is around -200, with no further increase for the time being. The price of non - standard HD injection molding is stable, other price differences are fluctuating, and LD is weakening. The maintenance in September is flat month - on - month, and the domestic linear production has decreased recently. Attention should be paid to the LL - HD conversion and US quotations. The pressure from new plants in 2025 is significant, and the commissioning of new plants needs to be monitored [6]. - Polypropylene: The inventory of upstream Sinopec and PetroChina and mid - stream is decreasing. In terms of valuation, the basis is - 60, the non - standard price difference is neutral, and the import profit is around - 700. Exports have been performing well this year. The non - standard price difference is neutral. The PDH profit is around - 400, propylene is fluctuating, and the powder plant operation rate is stable. The draw production is neutral. The subsequent supply is expected to increase slightly month - on - month. The current downstream orders are average, and the raw material and finished product inventories are neutral. Under the background of over - capacity, the pressure on the 01 contract is moderately excessive. If exports continue to increase or there are many PDH plant maintenance, the supply pressure can be alleviated to a neutral level [6]. - PVC: The basis remains at 01 - 270, and the factory - pickup basis is - 480. The downstream operating rate is seasonally weakening, and the willingness to hold goods at low prices is strong. The inventory of the middle and upper reaches is continuously accumulating. The summer seasonal maintenance of northwest plants has a load center between the spring maintenance and the high production in Q1. In Q4, attention should be paid to the commissioning of new plants and the sustainability of exports. The recent export orders have slightly declined. The coal market sentiment is positive, the cost of semi - coke is stable, and the profit of calcium carbide is under pressure due to PVC maintenance. The FOB counter - offer for caustic soda exports is 380. The PVC comprehensive profit is - 100. Currently, the static inventory contradiction is accumulating slowly, the cost is stable, the downstream performance is average, and the macro situation is neutral. Attention should be paid to exports, coal prices, commercial housing sales, terminal orders, and operating rates [6]. Group 3: Summary by Product Methanol - Price Data: From November 13 to 19, 2025, the power coal futures price remained at 801. The northwest discounted price increased by 10, and the daily change in the盘面MTO profit was 3 [1]. Polyethylene - Price Data: From November 13 to 19, 2025, the price of Northeast Asian ethylene decreased, and the主力期货 price increased by 48 [6]. Polypropylene - Price Data: From November 13 to 19, 2025, the price of Shandong propylene increased by 60, and the主力期货 price increased by 42 [6]. PVC - Price Data: From November 13 to 19, 2025, the price of northwest calcium carbide decreased by 50, and the basis remained unchanged [6].

1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints of the Report - The market on Wednesday showed a weak and fluctuating trend. Under the pressure of high capacity in December and January, short - sellers were actively trading, and the peak - season price increase was limited [2]. - The valuation of the 12 - contract is neutral and will gradually follow the delivery logic, with a significant decrease in open interest. The 02 - contract is expected to mainly follow the spot price in the short term. Before the peak season in December is realized, it's hard for the market to believe January is still a peak season. However, considering the late Chinese New Year this year and the good overall volume of China - Europe shipping, it's difficult to prove or disprove the non - peak season in the short term. If the peak season is gradually realized later, the 02 - contract may have more upside potential. The 04 - contract is still recommended to be shorted on rallies and is more likely to fluctuate in the short term [3]. 3. Summary by Related Catalogs Futures Market - **Contract Prices and Changes**: The EC2512 contract closed at 1763.3, down 0.35% with a basis of - 405.6; the EC2602 contract closed at 1640.1, down 2.26% with a basis of - 282.4; the EC2604 contract closed at 1162.7, down 1.43% with a basis of 195.0; the EC2606 contract closed at 1382.0, down 0.22% with a basis of - 24.3; the EC2608 contract closed at 1490.1, down 1.29% with a basis of - 132.4; the EC2610 contract closed at 1110.0, down 0.18% with a basis of 247.7 [2]. - **Volume and Open Interest**: The trading volume of EC2512 was 2452, and the open interest was 9568, a decrease of 864; the trading volume of EC2602 was 18687, and the open interest was 40244, an increase of 1384; the trading volume of EC2604 was 2358, and the open interest was 15944, a decrease of 201; the trading volume of EC2606 was 92, and the open interest was 1582, a decrease of 3; the trading volume of EC2608 was 118, and the open interest was 1212, an increase of 51; the trading volume of EC2610 was 264, and the open interest was 2520 [2]. - **Month - to - Month Spreads**: The EC2512 - 2504 spread was 600.6, with a daily increase of 10.7 and a weekly increase of 42.3; the EC2512 - 2602 spread was 123.2, with a daily increase of 31.8 and a weekly increase of 67.6; the EC2502 - 2604 spread was 477.4, with a daily decrease of 21.1 and a weekly decrease of 25.3 [2]. Spot Market - **Indices and Changes**: The SCHIS index (updated every Monday) was 1357.67 on November 17, 2025, down 9.78% from the previous period; the SCFI (European line, updated weekly) was 1417 dollars/TEU on November 14, 2025, up 7.11% from the previous period; the CCFI was 1403.64 points on November 14, 2025, up 2.69% from the previous period; the NCFI was 979.34 on November 14, 2025, up 7.42% from the previous period [2]. Recent European Line Quotations - **Week 48**: Currently, MSK's opening price is 2000 dollars, PA mainly follows the previous price, and OA has not adjusted the price. The average price is 2230 dollars (equivalent to about 1560 points on the futures market). MSK and MSC have issued price - increase letters for December, and other shipping companies may follow this week [4]. - **Week 49**: On Tuesday, MSK opened at 2500 dollars for the first week of December, in line with expectations. On Wednesday, MSC reduced the price to 2465 dollars, and HMM reduced the price to 2506 dollars [5]. Related News - The White House is about to announce a major new peace agreement with Russia, which is expected to end the three - and - a - half - year Russia - Ukraine conflict. An agreement framework is expected to be reached by the end of this month, or even "as soon as this week" [6].