天然气：LNG大幅反弹，HH维持弱势

Report Title - Natural Gas: LNG Rebounds Sharply, HH Remains Weak [1] Report Industry Investment Rating - Not mentioned in the provided content Core Viewpoints of the Report - Not clearly stated in the given text Summary by Relevant Catalogs 1. Comprehensive Analysis and Trading Strategies - Mentions TTF and JKM, but no specific analysis content provided [4] 2. Fundamental Analysis LNG Market Fundamentals - Some data are presented, such as LNG having a certain value (184.1, 170.5, 91.4), and the power consumption being 592.7 TWh, with a -19.5% change compared to some reference period, and the proportion being 51.8% and 64.2%. Also, LNG has a consumption of 4628 GWh/day, a 17.4% change, etc. Forecasts from ECMWF and NOAA show temperature changes of 1 - 2℃, 2 - 4℃ [9] US Market Fundamentals - There are data about production and consumption. For example, on a certain day, the production is 31850, with an increase of 710 and 330 compared to some previous data, a 1% change; the number of rigs is 1132, a 0.3% change compared to the previous data, and a 9.0% change compared to the data from Baker Hughes on a specific day. There are also data on consumption and its changes [11] 3. Core Data Tracking International Natural Gas Prices - Includes TTF - HH spread, and prices of JKM first - line, TFU first - line, HH first - line, as well as HH monthly spreads (HH M1 - M2, HH M1 - M6, HH M1 - M12) and TTF monthly spreads (TTF M1 - M2, TTF M1 - M6, TTF M1 - M12) [15] Forward Curves - HH, JKM, and TTF forward curves are presented [18] China's Natural Gas Supply and Demand - China's natural gas supply and consumption volume data are shown, as well as domestic and imported LNG supply volume data [21] China's Inventory and Price - China's receiving station inventory level (in tons),储气库库存水平 (in %), and LNG ex - factory prices (including national, North China, South China, and East China) are presented [24] Northwest European Coal - Gas Conversion and European Natural Gas Data - Northwest European coal - gas conversion interval, European natural gas inventory, LNG import volume, and the quantity of floating storage tanks over 20 days are shown [27] European Natural Gas Import and Domestic Production - Data on European natural gas imports from different sources (Norway, Russia, North Africa, etc.) and domestic production in different countries (Netherlands, Italy, etc.) are presented [30] US Natural Gas Data - US natural gas inventory, dry gas production, rig numbers, liquefied export project flows, domestic consumption, power generation demand, industrial consumption, and residential and commercial consumption data, as well as the supply - demand balance sheet are provided [33][36][38] Temperature and Wind Forecasts - Temperature and wind forecasts from ECMWF and GFS are presented, including the latest and previous forecasts, as well as 5 - year and 10 - year averages [41][44]