Report Summary 1. Report Industry Investment Rating - No information provided 2. Core View - No information provided 3. Summary by Relevant Catalog 3.1 Basis and Month Spread - **Basis**: On March 31st, the Shandong basis (+80) (non - Jingbo) was -32 with a daily change of -99; the East China basis (Zhenjiang warehouse) was -62 with a daily change of 7; the South China basis (Foshan warehouse) was -62 with a daily change of 1 [3]. - **Month Spread**: On March 31st, the 04 - 05 spread was 0 with a daily change of 3; the 04 - 06 spread was 5 with a daily change of -1; the 06 - 09 spread was 233 with a daily change of 15 [3]. 3.2 Futures Contract - **BU Main Contract**: On March 31st, the price of the BU main contract was 4512, with a daily change of -1 [3]. - **Trading Volume**: On March 31st, the trading volume was 1175067, with a daily increase of 101795 [3]. - **Open Interest**: On March 31st, the open interest was 370991, with a daily decrease of 1239 [3]. - **Combined Contract**: On March 31st, the combined contract was 35600, with no daily change [3]. 3.3 Crude Oil and Asphalt Prices - **Brent Crude Oil**: On March 31st, the price was 114.5, with no daily change [3]. - **Asphalt Prices**: On March 31st, the price of Jingbo asphalt was 4450 with no change; the price of Shandong (non - Jingbo) asphalt was 4400, with a daily decrease of 100; the price of Zhenjiang warehouse asphalt was 4450 with no change; the price of Foshan warehouse asphalt was 4450 with no change [3]. 3.4 Profit - **Asphalt Marey Profit**: On March 31st, the asphalt Marey profit was -718, with a daily decrease of 1 [3].

Report Industry Investment Rating - Not provided in the given content Core Viewpoints - The disk oscillated and declined, with the basis at -588 (+457), the 5 - 6 month spread at 193 (+31), and 1300 lots of warehouse receipts (-1800). The cheapest deliverable was Shandong ether - post 6080 (+130). [1] - The conflict between the US and Iran shows no sign of cooling, the US terminal operation is at full capacity, and the inventory in April still has support, but the subsequent supply shortage may become more prominent. [1] - There may be measures to ensure people's livelihood in China, the PP - PG spread continues to widen, but the current valuation is not low, and there may be negative feedback from the terminal, so it is not advisable to chase the high. [1] - The valuation of the PG 5 - 6 month spread is not low, and short - term geopolitical news has a large impact, so it is recommended to wait and see. [1] Summary by Related Catalogs Daily Market - On March 31, the PG2605 contract closed at 6339 (-267) at 3 pm, with a 5 - 6 month spread of 139 (-31) and 0 warehouse receipts (-1300). The night session closed at 6501 (+162), with a 5 - 6 month spread of 166 (+27). [1] - Constrained by the successive decline of the related oil product market, the refinery's willingness to support the market is not strong. Shandong civil gas was at 6370 (-81), Shandong ether - post at 6510 (-40), Shandong propane at 6807 (-25), and Longkou Port propane at 7500 (+0). [1] Weekly Viewpoints - The basis was -588 (+457), the 5 - 6 month spread was 193 (+31), and there were 1300 lots of warehouse receipts (-1800). The cheapest deliverable was Shandong ether - post 6080 (+130). Shandong civil gas was at 6100 (+110), East China civil gas at 7065 (+876), and South China civil gas at 7205 (+905). [1] - The FEI month spread was 104 US dollars (-8), the oil - gas ratio oscillated, and the internal and external PG - FEI c2 reached 156 (+13). The South China CP propane arrival discount was 368 (-133), and the FOB discounts of AFEI, US Gulf, and Middle East propane were 45 (-5), 182 (-91), and 245 (+245) respectively. The FEI - MOPJ spread narrowed to -122 (-46). [1] - Propane import profit increased significantly. The spot profit of Chinese PDH - made propylene weakened to 734 (-611); the paper goods of PDH - made PP in East and South China oscillated significantly. [1] - The port inventory ratio was 36.08% (-0.24pct), the arrival volume was 52.8 tons (-18.27%), the factory storage capacity utilization was 24.92% (-1.13pct), and the external release was 51.78 tons (-3.36%). [1] - The PDH operating rate was 63.6% (-2.03pct); the utilization rate of alkylated oil production capacity was 38.6% (+0pct); the MTBE operating rate was 67.3% (+0.76pct); the MTBE export order was 0 tons (-4.5). [1]

1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints - The disk fluctuates and declines, with the latest basis at -588 (+457) and the 5 - 6 month spread at 193 (+31) [1] - The conflict between the US and Iran shows no sign of cooling, US terminal operations are at full capacity, April inventory is still supported, but subsequent supply shortages may become more prominent [1] - There may be measures to ensure people's livelihoods in China, the PP - PG spread continues to widen, but the current valuation is not low and there may be negative feedback from the terminal, so it is not advisable to chase the high [1] - The valuation of the PG 5 - 6 month spread is not low, short - term geopolitical news has a large impact, and it is recommended to wait and see [1] 3. Summary by Relevant Catalogs 3.1 Daily Quotes - Shandong civil LPG is 6430 (+0), Shandong ether - after LPG is 6550 (+50), Shandong propane is 6832 (+276), and Longkou Port propane is 7500 (+0) [1] - Platts assesses the CP South China CIF CFR discount at 358.5 (+20) at 6:30 pm on Monday, and the CFR price is 1013.5 (+35) [1] - At 11 pm on Monday, FEI is reported at 925.5 (+29.5), the 4 - 5 month spread is 105 (+3), and the 5 - 6 month spread is 77 (+9) [1] - PG - FEI05 internal - external spread is 136.8 (-37.9), and FEI - MOPJ is - 124 (-11) [1] 3.2 Weekly Views - The basis is -588 (+457), the 5 - 6 month spread is 193 (+31), and the number of warehouse receipts is 1300 (-1800) [1] - The cheapest deliverable is Shandong ether - after LPG at 6080 (+130) [1] - Shandong civil LPG is 6100 (+110), East China civil LPG is 7065 (+876), and South China civil LPG is 7205 (+905) [1] - The FEI month spread is 104 US dollars (-8), and the oil - gas ratio fluctuates [1] - The internal - external PG - FEI c2 is 156 (+13) [1] - The South China CP propane CIF discount is 368 (-133), and the FOB discounts of AFEI, US Gulf, and Middle East propane are 45 (-5), 182 (-91), and 245 (+245) respectively [1] - The FEI - MOPJ spread narrows to -122 (-46) [1] - Propane import profit rises significantly [1] - The spot profit of China's PDH - made propylene weakens to 734 (-611), and the paper futures of PDH - made PP in East and South China fluctuate significantly [1] - The port inventory ratio is 36.08% (-0.24pct), the arrival volume is 52.8 tons (-18.27%), the factory storage capacity is 24.92% (-1.13pct), and the external release is 51.78 tons (-3.36%) [1] - PDH operating rate is 63.6% (-2.03pct), alkylated oil capacity utilization rate is 38.6% (+0pct), MTBE operating rate is 67.3% (+0.76pct), and MTBE export orders are 0 tons (-4.5) [1]

1. Report Industry Investment Rating - No relevant information provided 2. Core Viewpoints of the Report - No clear core viewpoints are presented in the given content 3. Summary by Related Catalogs 3.1 Basis and Spread - The Shandong basis (+80) (non - Jingbo) was -6 on 2/27, -177 on 3/20, -130 on 3/25, -183 on 3/26, -152 on 3/27, with a daily change of 31 [3] - The East China basis (Zhenjiang warehouse) was -66 on 2/27, -107 on 3/20, -180 on 3/25, -93 on 3/26, -82 on 3/27, with a daily change of 11 [3] - The South China basis (Foshan warehouse) was -146 on 2/27, -107 on 3/20, -210 on 3/25, -93 on 3/26, -82 on 3/27, with a daily change of 11 [3] - The 04 - 05 spread was -20 on 2/27, -10 on 3/20, 13 on 3/25, 11 on 3/26, -4 on 3/27, with a daily change of -15 [3] - The 04 - 06 spread was -26 on 2/27, -5 on 3/20, 15 on 3/25, 7 on 3/26, -4 on 3/27, with a daily change of -11 [3] - The 06 - 09 spread was 32 on 2/27, 277 on 3/20, 253 on 3/25, 273 on 3/26, 267 on 3/27, with a daily change of -6 [3] 3.2 Futures Contracts - The BU main contract price was 3346 on 2/27, 4457 on 3/20, 4410 on 3/25, 4543 on 3/26, 4532 on 3/27, with a daily change of -11 [3] - The trading volume was 224662 on 2/27, 1191491 on 3/20, 1073847 on 3/25, 1173067 on 3/26, 1165126 on 3/27, with a daily change of -7941 (-2) [3] - The open interest was 315006 on 2/27, 370977 on 3/20, 350606 on 3/25, 380087 on 3/26, 378989 on 3/27, with a daily change of -1098 (8) [3] - The warehouse receipt was 23510 on 2/27, 36100 from 3/20 to 3/26, and N/A on 3/27 [3] 3.3 Spot Market - Brent crude oil price was 70.8 on 2/27, 109.3 on 3/20, 100.8 on 3/25, 104.1 on 3/26, 107.9 on 3/27, with a daily change of 3.9 [3] - Jingbo asphalt price was 3290 on 2/27, 4220 on 3/20, 4250 on 3/25, 4300 on 3/26 and 3/27, with a daily change of 0 [3] - Shandong (non - Jingbo) asphalt price was 3260 on 2/27, 4200 on 3/20 and 3/25, 4280 on 3/26, 4300 on 3/27, with a daily change of 20 [3] - Zhenjiang warehouse asphalt price was 3280 on 2/27, 4350 on 3/20, 4230 on 3/25, 4450 on 3/26 and 3/27, with a daily change of 0 [3] - Foshan warehouse asphalt price was 3200 on 2/27, 4350 on 3/20, 4200 on 3/25, 4450 on 3/26 and 3/27, with a daily change of 0 [3] 3.4 Profit - The asphalt - Ma Rui profit was -661 on 3/20, -211 on 3/25, -315 on 3/26, and N/A on 3/27 [3]

1. Report Industry Investment Rating - No relevant information provided 2. Core Viewpoints - The real estate market is still at the bottom, but the decline trend is slowing down; the steel consumption in the automotive industry has declined for two consecutive months; infrastructure investment is providing support [4][6][8][10] - The iron ore market is driven by events, with a "near - strong, far - weak" fundamental characteristic. Prices are supported by costs and tight spot supplies but are suppressed by medium - to - long - term demand and supply increase expectations [26] - The coking coal and coke market fluctuates with energy expectations. The price increase is due to thermal coal expectations rather than its own fundamentals, and it is difficult to continue rising away from fundamentals [44] - The ferroalloy market has strong cost support at the bottom. The production of ferrosilicon is increasing, while silicomanganese maintains low production. The inventory of silicomanganese is at a historical high, and there is great pressure to reduce inventory [58] - The soda ash market has high daily production and continuous supply pressure. The rigid demand is currently stable and weak, and the inventory performance is better than expected. The price increase space is limited, and the downward space needs inventory accumulation to open [71] - The glass market has a continued cold - repair expectation, and the daily melting volume is in a downward stage. The high inventory in the middle reaches and the expected return of supply limit the price increase, and the demand needs to be verified [96] 3. Summary by Directory Steel - **Macro Data** - From January to February, the new construction area of real estate was 5.084 million square meters, with a cumulative year - on - year decrease of 23.1%. The single - month steel consumption from January to February was 330,460 tons, at the lowest level in the same period over the years, but the decline trend is stabilizing [4] - From January to February, the automobile production was 4.024 million vehicles, with a cumulative year - on - year decrease of 9.9%. In January, the single - month steel consumption was 1.01577 million tons, a month - on - month decrease of 11.67% and a year - on - year increase of 3.1%. In February, the single - month steel consumption was 881,500 tons, a month - on - month decrease of 13.22% and a year - on - year decrease of 6.6% [6] - In February, the completed infrastructure investment increased by 9.76% year - on - year. The steel consumption for railways and airports was 271,600 tons and 29,970 tons respectively, with a year - on - year increase of 0% and 31.1% [8] - **Price Data** - On March 27, 2026, the closing prices of rebar contracts 01, 05, and 10 were 3173, 3124, and 3151 yuan/ton respectively; the closing prices of hot - rolled coil contracts 01, 05, and 10 were 3311, 3299, and 3310 yuan/ton respectively [11] - The spot prices of rebar and hot - rolled coil in different regions also showed certain changes on March 27, 2026 [16] Iron Ore - **Market Analysis** - The iron ore market is event - driven, with a complex mix of long and short factors. The macro internal and external demand momentum is weak, the supply and shipment are marginally recovering, and the rising fuel cost provides support. The resumption of production by steel mills drives the increase in hot metal production, and the structural shortage of port inventory is the core driver. The fundamentals show a "near - strong, far - weak" characteristic [26] - **Price Data** - On March 27, 2026, the closing prices of iron ore contracts 01, 05, and 09 were 769.5, 812, and 788 yuan/ton respectively [27][31] - The basis and spot prices of different iron ore varieties also changed [31] - **Fundamental Data** - On March 27, 2026, the daily average hot metal production was 231,090 tons, the 45 - port desilting volume was 3.1317 million tons, the apparent demand for five major steel products was 8.88 million tons, etc. [39] Coking Coal and Coke - **Market Analysis** - The coking coal and coke market fluctuates with energy expectations. The price increase is due to thermal coal expectations rather than its own fundamentals. Domestic production is increasing, inventory is close to the same - period level, hot metal production and steel mill profits are lower than in previous years, and there is great inventory pressure at the Mongolian coal port. It is difficult for prices to continue rising away from fundamentals [44] - **Price Data** - On March 27, 2026, the price differences between different coking coal and coke contracts, as well as the spot prices of coking coal and coke in different regions, showed certain changes [45][46][47] Ferroalloy - **Market Analysis** - The ferroalloy market has strong cost support at the bottom. The Australian hurricane has disrupted the shipment of manganese ore. The price - holding by miners and the strengthening of coking coal provide bottom support. The production of ferrosilicon is increasing, while silicomanganese maintains low production. The inventory of silicomanganese is at a historical high, and there is great pressure to reduce inventory [58] - **Price Data** - On March 27, 2026, the basis, price differences between contracts, and spot prices of ferrosilicon and silicomanganese showed certain changes [59][61][63] Soda Ash - **Market Analysis** - The soda ash market has high daily production and continuous supply pressure. The rigid demand is currently stable and weak, but there may be unexpected disturbances on the supply side. The inventory performance is better than expected. If the futures price rises, there is a certain restocking space for middle - stream players such as those in the futures - cash market, but the price increase space is limited due to limited demand elasticity. The downward price space needs inventory accumulation to open [71] - **Price Data** - On March 27, 2026, the closing prices of soda ash contracts 05, 09, and 01 were 1229, 1310, and 1360 yuan/ton respectively, and the price differences between contracts also changed [72][75] Glass - **Market Analysis** - The glass market has a continued cold - repair expectation, and the daily melting volume is in a downward stage. The high inventory in the middle reaches is a risk concern. The expected return of supply and the high middle - stream inventory limit the price increase, and the demand needs to be verified [96] - **Price Data** - On March 27, 2026, the closing prices of glass contracts 05, 09, and 01 were 1041, 1179, and 1273 yuan/ton respectively, and the price differences between contracts and the basis also changed [97]

Group 1: Report Industry Investment Rating - No information provided Group 2: Core Views of the Report - The rise in the Middle East situation, attacks on Iranian and Qatari gas fields, and compressor leaks have pushed up the PG futures market significantly. The current basis is weak, and the domestic market is in a contradiction between weak reality and strong expectations. The 4 - 5 month spread in the domestic market is in a delivery game and is expected to fluctuate greatly. In the future, there will likely be a shortage of goods in the second half of April in China, and if the Strait is interrupted for a longer time, the international market will face a more serious shortage, and the external market will remain strong [1] Group 3: Summary of Relevant Catalogs 1. Price Data - **Daily Price Changes**: From March 20 - 26, 2026, the prices of liquefied gas in South China, East China, and Shandong showed an overall upward trend. For example, the price of South China liquefied gas rose from 6300 on March 20 to 7220 on March 26 [1] - **Contract Data**: On March 26, the PG2605 contract closed at 6541 (-53) at 3 pm, with a 5 - 6 month spread of 199 (-43). The number of warrants was 1300 (-1800). The night session closed at 6550 (+9), with a 5 - 6 month spread of 14〈-11〉 [1] 2. Fundamental Data - **Inventory and Capacity Utilization**: Port inventory ratio is 35.84% (+0.79pct), enterprise storage capacity utilization is 26.05% (+1.11 pct), and PDH operating rate is 65.63% (+2.4pct) [1] - **Profit Situation**: Propylene spot profit has weakened slightly, and the paper - making profit of PDH to PP in East and South China has declined [1] 3. Spread and Basis Data - **Basis**: The latest basis is - 1057 (-736) [1] - **Month - to - Month Spread**: The 4 - 5 month spread is 64 (-68), and the FEI month - to - month spread is 112 US dollars (+28) [1] - **Price Difference**: The PG - FEI c1 is 35 (-15.5), the South China CP propane arrival discount is 501 (+108), and the FEI - MOPI price difference is - 76 (+52) [1]

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints - The LPG market is in a contradiction between weak reality and strong expectations. Currently, the basis is weak (-1000), domestic refinery gas is sufficient in the short term, and there are intentions to deliver warehouse receipts from some warehouses. The 4 - 5 month spread on the domestic market is in a delivery game and is expected to fluctuate greatly. Looking ahead, a shortage of LPG in China in the second half of April is inevitable. If the Strait is interrupted for a longer time, the international market will face a more serious shortage, and the civil LPG demand gap will be difficult to make up, so the overseas market will remain strong [1]. 3. Summary by Relevant Catalogs 3.1 Daily Data Changes - From March 19 - 25, 2026, prices of LPG in South China, East China, and Shandong showed an upward trend. For example, South China LPG increased from 6215 on March 19 to 7210 on March 25. Paper import profit increased from -3111 on March 19 to 1 on March 25, and the main basis changed from -392 to 120 [1]. - On March 25, the PG2605 contract closed at 6550 (-286) at 3 pm, with a 5 - 6 month spread of 242 (+47), and the number of warehouse receipts was 3100 (+0). The night - session closed at 6565 (-29), and the 5 - 6 month spread was 225 (-17) [1]. - Shandong civil LPG price was 6470 (-80), Shandong ether - post carbon four was 6470 (+0), Shandong propane was 6870 (-80), and Longkou Port propane was 7500 (+0) [1]. 3.2 Weekly Data Changes - Due to the escalation of the Middle East situation, attacks on gas fields in Iran and Qatar, and a compressor leak at Targe, the PG futures price rose significantly. The basis was -1057 (-736), and the 4 - 5 month spread was 64 (-68) [1]. - The number of warehouse receipts was 3100 (+8), with Wanhua increasing by 1300, Jingbo decreasing by 428, and Yunda decreasing by 880. The cheapest deliverable product was Shandong ether - post at 5950 (+520) [1]. - The FEI month spread was 112 US dollars (+28), the oil - gas price ratio decreased, and the domestic and international PG - FEI c1 dropped to 35 (-15.5) [1]. - The on - shore discount of South China CP propane was 501 (+108), and the FOB discounts of AFEI, US Gulf, and Middle East propane were 50 (-54.75), 273.5 (+72.9), and 0 (+0) respectively. The FEI - MOPJ spread was -76 (+52) [1]. - The spot profit of domestic PDH - made propylene weakened slightly, and the paper profit of PDH - made PP in East and South China decreased. The port inventory ratio was 35.84% (+0.79 pct), the enterprise storage capacity utilization was 26.05% (+1.11 pct), and the PDH operating rate was 65.63% (+2.4 pct) [1].

Report Summary 1. Report Industry Investment Rating - No information provided 2. Core Viewpoints - No information provided 3. Summary by Relevant Catalog 3.1 Basis and Spread - The Shandong basis (+80) (non-Jingbo) changed from 22 on 2/25 to -130 on 3/25, with a daily change of -159 [3]. - The East China basis (Zhenjiang warehouse) changed from -28 on 2/25 to -180 on 3/25, with a daily change of -229 [3]. - The South China basis (Foshan warehouse) changed from -128 on 2/25 to -210 on 3/25, with a daily change of -259 [3]. - The 04 - 05 spread changed from -15 to 13, with a daily change of 10 [3]. - The 04 - 06 spread changed from -22 to 15, with a daily change of 7 [3]. - The 06 - 09 spread changed from 36 to 253, with a daily change of 8 [3]. 3.2 Futures Contracts - The BU main contract price changed from 3358 on 2/25 to 4410 on 3/25 [3]. - The trading volume changed from 189,401 on 2/25 to 1,073,847 on 3/25, with a daily change of -202,717 (-30) [3]. - The open interest changed from 327,972 on 2/25 to 350,606 on 3/25, with a daily change of 1,740 (-5) [3]. 3.3 Spot Prices - The Brent crude oil price changed from N/A to 100.8 on 3/25, with a daily change of -0.4 [3]. - The Jingbo spot price changed from 3320 on 2/25 to 4250 on 3/25, with a daily change of -100 [3]. - The Shandong (non-Jingbo) spot price changed from 3300 on 2/25 to 4200 on 3/25, with a daily change of -150 [3]. - The Zhenjiang warehouse spot price changed from 3330 on 2/25 to 4230 on 3/25, with a daily change of -220 [3]. - The Foshan warehouse spot price changed from 3230 on 2/25 to 4200 on 3/25, with a daily change of -250 [3]. 3.4 Profits - The asphalt Ma Rui profit changed from N/A to -204 on 3/25, with a daily change of -60 [3].

Report Industry Investment Rating - No relevant information provided Core Viewpoints - Due to the escalation of the Middle East situation, attacks on gas fields in Iran and Qatar, and a compressor leak at Targe, the PG futures market has risen significantly [1] - The domestic PG market is in a contradiction between weak reality and strong expectations. The current basis is weak, and there is sufficient refinery gas in the short - term. The 4 - 5 month spread of the domestic market is in a delivery game and is expected to fluctuate greatly [1] - In the future, it is highly likely that there will be a shortage of goods in the second half of April in China. If the Strait is interrupted for a longer time, the international market will face a more serious shortage problem, and the civil gas demand gap will be difficult to make up, so the overseas market will still be strong [1] Summary by Relevant Catalogs Daily Data - On March 24, 2026, the closing price of the PG2605 contract at 3 pm was 6836 (-162), the 5 - 6 month spread was 195 (+0), the number of warehouse receipts was 3100 (+0), the night - session closing price was 6668 (-543), and the 5 - 6 month spread was 256 (+61) [1] - On Tuesday, the price of civil LPG in Shandong was 6550 (+0), the price of ether - after carbon four in Shandong was 6470 (-70), the price of propane in Shandong was 6950 (+27), and the price of propane at Longkou Port was 7500 (+0) [1] Weekly Data - The latest basis is -1057 (-736), the 4 - 5 month spread is 64 (-68), and the number of warehouse receipts is 3100 lots (+8) [1] - The cheapest deliverable is Shandong ether - after carbon four at 5950 (+520), Shandong civil LPG at 5990 (+440), East China civil LPG at 6189 (+30), and South China civil LPG at 6300 (+150) [1] - The FEI month spread is 112 US dollars (+28), the oil - gas price ratio has declined, the domestic PG - FEI c1 is 35 (-15.5) [1] - The CIF discount of South China CP propane is 501 (+108), and the FOB discounts of AFEI, US Gulf, and Middle East propane are 50 (-54.75), 273.5 (+72.9), and 0 (+0) respectively [1] - The FEI - MOPJ spread is -76 (+52) [1] - The spot profit of propylene production from domestic PDH has weakened slightly, and the paper profit of PP production from PDH in East and South China has declined [1] - The port inventory ratio is 35.84% (+0.79 pct), the enterprise storage capacity utilization rate is 26.05% (+1.11 pct), and the PDH operating rate is 65.63% (+2.4 pct) [1]

Group 1: Report Industry Investment Rating - No relevant information provided Group 2: Core Viewpoints - No relevant information provided Group 3: Summary by Directory 1. Basis and Spread - The basis in Shandong (+80) (non-Jingbo) changed from 32 on 2/24 to 29 on 3/24, with a daily change of 320 [3] - The basis in East China (Zhenjiang Warehouse) changed from -18 on 2/24 to 49 on 3/24, with a daily change of 260 [3] - The basis in South China (Foshan Warehouse) changed from -68 on 2/24 to 49 on 3/24, with a daily change of 260 [3] - The spreads between contracts 04 - 05, 04 - 06, and 06 - 09 also had significant changes from 2/24 to 3/24 [3] 2. Futures Contract Data - The price of the BU main contract changed from 3348 on 2/24 to 4401 on 3/24, with a daily change of -260 [3] - The trading volume changed from 257,381 on 2/24 to 1,275,134 on 3/24, with a daily change of 218,965 [3] - The open interest changed from 332,156 on 2/24 to 348,738 on 3/24, with a daily change of -29,028 [3] - The warehouse receipts remained at 36,100 from 3/17 to 3/24 [3] 3. Crude Oil and Asphalt Prices - The price of Brent crude oil changed from 71.4 on 2/24 to 101.2 on 3/24, with a daily change of -8.2 [3] - The prices of asphalt from different sources (Jingbo, Shandong non-Jingbo, Zhenjiang Warehouse, Foshan Warehouse) also changed from 2/24 to 3/24 [3] 4. Profit - The asphalt MRE profit changed from 257 on 2/24 to -136 on 3/24, with a daily change of 440 [3]