Report Overview - Report Title: Fuel Oil Morning Report - Report Date: July 11, 2025 - Research Team: Energy and Chemicals Team of the Research Center Report Industry Investment Rating - Not provided in the given content Core Viewpoints - This week, the high-sulfur crack spread fluctuated downward, the near-month spread declined, and the EW remained in a low-level oscillation. The 380 8 - 9 month spread dropped to $3.25, the basis oscillated at a low level, the FU09 internal and external spread weakened significantly, and the domestic delivery volume was large, maintaining a loose pattern. [6] - The Singapore 0.5 crack spread decreased slightly, the month spread oscillated, and the 8 - 9 month spread oscillated around $6. The LU internal and external spread remained relatively strong, with the 09 oscillating around $17. [6][7] - This week, Singapore's onshore inventory increased, the window was under delivery pressure, and the near-month contract was under pressure. Recently, fuel oil exports from Iran and Iraq remained at a high level, Egypt's net imports reached a new high, high-sulfur supply and demand were in the peak season, the internal and external spread had dropped rapidly, the external low-sulfur valuation was relatively high, and the LU internal and external spread was running at a high level. Attention should be paid to the domestic production situation. [7] Data Summary Rotterdam Fuel Oil Swap Data | Type | 2025/07/04 | 2025/07/07 | 2025/07/08 | 2025/07/09 | 2025/07/10 | Change | | --- | --- | --- | --- | --- | --- | --- | | Rotterdam 3.5% HSF O Swap M1 | 410.21 | 415.73 | 421.39 | 427.74 | 416.69 | -11.05 | | Rotterdam 0.5% VLS FO Swap M1 | 466.59 | 469.33 | 473.90 | 476.00 | 467.49 | -8.51 | | Rotterdam HSFO - Brent M1 | -2.61 | -2.45 | -2.47 | -1.75 | -2.05 | -0.30 | | Rotterdam 10ppm Gasoil Swap M1 | 671.26 | 665.18 | 678.94 | 675.03 | 662.16 | -12.87 | | Rotterdam VLSFO - Gasoil M1 | -204.67 | -195.85 | -205.04 | -199.03 | -194.67 | 4.36 | | LGO - Brent M1 | 23.61 | 21.59 | 22.87 | 22.33 | 22.20 | -0.13 | | Rotterdam VLSFO - HSFO M1 | 56.38 | 53.60 | 52.51 | 48.26 | 50.80 | 2.54 | [4] Singapore Fuel Oil Swap Data | Type | 2025/07/04 | 2025/07/07 | 2025/07/08 | 2025/07/09 | 2025/07/10 | Change | | --- | --- | --- | --- | --- | --- | --- | | Singapore 380cst M1 | 416.21 | 414.51 | 421.88 | 426.95 | 426.30 | -0.65 | | Singapore 180cst M1 | 424.41 | 423.40 | 430.38 | 434.39 | 434.01 | -0.38 | | Singapore VLSFO M1 | 500.75 | 496.05 | 503.04 | 507.25 | 504.61 | -2.64 | | Singapore Gasoil M1 | 86.91 | 88.27 | 87.84 | 90.06 | 88.88 | -1.18 | | Singapore 380cst - Brent M1 | -1.70 | -1.74 | -1.55 | -2.03 | -1.67 | 0.36 | | Singapore VLSFO - Gasoil M1 | -142.38 | -157.15 | -146.98 | -159.19 | -153.10 | 6.09 | [4] Singapore Fuel Oil Spot Data | Type | 2025/07/04 | 2025/07/07 | 2025/07/08 | 2025/07/09 | 2025/07/10 | Change | | --- | --- | --- | --- | --- | --- | --- | | FOB 380cst | 407.59 | 406.54 | 416.16 | 420.79 | 418.55 | -2.24 | | FOB VLSFO | 512.68 | 507.10 | 513.00 | 516.44 | 512.29 | -4.15 | | 380 Basis | -6.40 | -6.25 | -5.00 | -5.30 | -5.40 | -0.10 | | High - Sulfur Internal - External Spread | -2.9 | -4.7 | -7.0 | -10.3 | -10.1 | 0.2 | | Low - Sulfur Internal - External Spread | 17.0 | 17.7 | 18.3 | 16.6 | 17.4 | 0.8 | [5] Domestic FU Data | Type | 2025/07/04 | 2025/07/07 | 2025/07/08 | 2025/07/09 | 2025/07/10 | Change | | --- | --- | --- | --- | --- | --- | --- | | FU 01 | 2857 | 2848 | 2869 | 2902 | 2910 | 8 | | FU 05 | 2805 | 2794 | 2807 | 2837 | 2848 | 11 | | FU 09 | 2966 | 2947 | 2972 | 2982 | 2972 | -10 | | FU 01 - 05 | 52 | 54 | 62 | 65 | 62 | -3 | | FU 05 - 09 | -161 | -153 | -165 | -145 | -124 | 21 | | FU 09 - 01 | 109 | 99 | 103 | 80 | 62 | -18 | [5] Domestic LU Data | Type | 2025/07/04 | 2025/07/07 | 2025/07/08 | 2025/07/09 | 2025/07/10 | Change | | --- | --- | --- | --- | --- | --- | --- | | LU 01 | 3507 | 3495 | 3526 | 3568 | 3567 | -1 | | LU 05 | 3434 | 3426 | 3470 | 3472 | 3491 | 19 | | LU 09 | 3621 | 3619 | 3663 | 3692 | 3687 | -5 | | LU 01 - 05 | - | 69 | 56 | 96 | 76 | -20 | | LU 05 - 09 | -187 | -193 | -193 | -220 | -196 | 24 | | LU 09 - 01 | 114 | 124 | 137 | 124 | 120 | -4 | [6]

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core View of the Report - The overall LPG market is expected to fluctuate. Currently, prices have fallen to relatively low levels, with high chemical demand, but high temperatures and weak terminal demand will limit subsequent price increases. Domestic port inventories, factory inventories, and external sales volumes are basically flat. PDH operating rates are expected to increase slightly, and alkylation operating rates are expected to rise due to partial device restart plans. Different regional markets have different trends: the Shandong market is expected to fluctuate, the East China market is expected to remain weak, and the South China market will continue to be dragged down by weak terminal demand [1]. 3. Summary According to Relevant Catalogs Day - to - Day Changes - On Wednesday, the cheapest deliverable was East China civil gas at 4494. FEI and CP increased, CP discount was basically flat, PP strengthened, and the production profit of PP made from FEI and CP worsened. The PG futures price strengthened, and the monthly spread increased, with the latest 08 - 09 spread at 104. The US - to - Far - East arbitrage window opened. The daily changes showed that prices of some items remained unchanged, while some such as MB propane increased. The basis changed little, and the 8 - 9 monthly spread strengthened slightly. The import cost decreased significantly, and the external monthly spread weakened sharply, with the oil - gas ratio rising [1]. Weekly View - In terms of fundamentals, the PDH operating rate decreased to 65.49% (-5.05 pct) but the profit improved, and it is expected to increase slightly. The alkylation operating rate remained flat and is expected to rise due to partial device restart plans. The Shandong civil gas price first fell and then rose. The domestic gas supply is at a low level, arrivals are abundant, combustion demand is weak, and chemical demand provides support, so it is expected to fluctuate. The East China civil gas price declined, and the market is expected to remain weak due to increased arrivals and the off - season. The South China civil gas price oscillated downward due to falling import costs and weak combustion demand, and weak terminal demand will continue to drag down the market [1].

Summary of Report Core Content Group 1: Futures Contract Information - The closing prices of BU main contract, BU06, BU09, BU12, and BU03 on July 9 were 3623, 3354, 3623, 3440, and 3383 respectively, with daily changes of 34, 62, 34, 51, and 78, and weekly changes of 61, 105, 61, 72, and 89 [4]. Group 2: Trading Volume and Open Interest - The trading volume on July 9 was 223,234, with a daily increase of 32,161 and a weekly decrease of 3,715. The open interest was 469,021, with a daily increase of 2,276 and a weekly decrease of 16,519 [4]. Group 3: Spot Market Prices - The low - end prices in Shandong, East China, South China, North China, and Northeast markets on July 9 were 3600, 3670, 3600, 3750, and 3850 respectively. The daily changes were 20, 0, - 10, 0, and - 50, and the weekly changes were 40, 20, 0, 0, and - 50 [4]. Group 4: Basis and Calendar Spread - On July 9, the Shandong - East China, Shandong - Northeast, and East - South China basis were - 70, - 250, and 70 respectively, with daily changes of 20, 70, and 10, and weekly changes of 20, 90, and 20. The 03 - 06, 06 - 09, 09 - 12, and 12 - 03 calendar spreads were 29, - 269, 183, and 57 respectively, with daily changes of 16, 28, - 17, and - 27, and weekly changes of - 16, 44, - 11, and - 17 [4]. Group 5: Crack Spread and Profit - The asphalt Brent crack spread on July 9 was - 74, with a daily decrease of 9 and a weekly decrease of 20. The ordinary refinery's comprehensive profit was 432, with a daily decrease of 11 and a weekly decrease of 12. The import profit from South Korea to East China was - 152, with no daily change and a weekly increase of 13. The import profit from Singapore to South China was - 959, with a daily decrease of 8 and a weekly decrease of 6 [4]. Group 6: Related Prices - On July 9, the price of Brent crude oil was 70.2, with a daily increase of 0.6 and a weekly increase of 1.0. The gasoline price in Shandong market was 7831, with a daily increase of 29 and a weekly increase of 102. The diesel price in Shandong market was 6811, with a daily increase of 17 and a weekly increase of 16. The residual oil price in Shandong market was 3615, with a daily increase of 15 and a weekly decrease of 25 [4].

Report Investment Rating - No investment rating information is provided in the report. Core Viewpoints - This week, the high-sulfur cracking spread fluctuated downward, the near-month spread declined, and the EW was in a low-level oscillation. The 380 8-9 month spread dropped to $3.25, the basis oscillated at a low level, the FU09 domestic and foreign spread weakened significantly, and the domestic delivery volume was large, maintaining a loose pattern. The Singapore 0.5 cracking spread declined slightly, the month spread oscillated, and the 8-9 month spread oscillated around $6. The LU domestic and foreign spreads remained strong, with the 09 oscillating around $17. This week, Singapore's onshore inventory increased, the window was under delivery pressure, and the near month was under pressure. Recently, fuel oil exports from Iran and Iraq remained at a high level, Egypt's net imports reached a new high, the high-sulfur supply and demand was still in the peak season, the domestic and foreign spreads had dropped rapidly, the foreign low-sulfur valuation was high, and the LU domestic and foreign spreads were running at a high level. Attention should be paid to the domestic production situation. [3][4] Data Summary Rotterdam Fuel Oil Swap Data - From July 2, 2025, to July 8, 2025, the price of Rotterdam 3.5% HSF O swap M1 increased by $5.66, the price of Rotterdam 0.5% VLS FO swap M1 increased by $4.57, the Rotterdam HSFO-Brent M1 decreased by $0.02, the Rotterdam 10ppm Gasoil swap M1 increased by $13.76, the Rotterdam VLSFO-GO M1 decreased by $9.19, the LGO-Brent M1 increased by $1.28, and the Rotterdam VLSFO-HSFO M1 decreased by $1.09. [1] Singapore Fuel Oil Swap Data - From July 2, 2025, to July 8, 2025, the price of Singapore 380cst M1 increased by $7.37, the price of Singapore 180cst M1 increased by $6.98, the price of Singapore VLSFO M1 increased by $6.99, the price of Singapore GO M1 decreased by $0.43, the Singapore 380cst-Brent M1 increased by $0.19, and the Singapore VLSFO-GO M1 increased by $10.17. [1] Singapore Fuel Oil Spot Data - From July 2, 2025, to July 8, 2025, the FOB 380cst price increased by $9.62, the FOB VLSFO price increased by $5.90, the 380 basis increased by $1.25, the high-sulfur domestic and foreign spread decreased by $2.3, and the low-sulfur domestic and foreign spread increased by $0.6. [2] Domestic FU Data - From July 2, 2025, to July 8, 2025, the price of FU 01 increased by 21, the price of FU 05 increased by 13, the price of FU 09 increased by 25, the FU 01-05 spread increased by 8, the FU 05-09 spread decreased by 12, and the FU 09-01 spread increased by 4. [2] Domestic LU Data - From July 2, 2025, to July 8, 2025, the price of LU 01 increased by 31, the price of LU 05 increased by 44, the price of LU 09 increased by 44, the LU 01-05 spread decreased by 13, the LU 05-09 spread remained unchanged, and the LU 09-01 spread increased by 13. [3]

Report Information - Report Title: Asphalt Morning Report [2] - Research Team: Energy and Chemicals Team of the Research Center [3] - Report Date: July 9, 2025 [3] Core Data Summary Futures Contracts - **Prices**: The BU main contract price on July 8 was 3589, with a daily change of 23 and a weekly change of 25. Different contract months (BU06, BU09, BU12, BU03) also showed various price changes [4]. - **Trading Volume**: The trading volume on July 8 was 191073, with a daily increase of 10177 and a weekly decrease of 52750 [4]. - **Open Interest**: The open interest on July 8 was 466745, with a daily decrease of 1654 and a weekly decrease of 27458 [4]. - **Combined Volume**: The combined volume on July 8 was 52390, with a daily decrease of 620 and a weekly decrease of 4620 [4]. Spot Market - **Regional Low - end Prices**: On July 8, the low - end prices in Shandong, East China, South China, North China, and Northeast China markets were 3580, 3670, 3610, 3750, and 3900 respectively, with different daily and weekly changes [4]. - **Specific Spot Prices**: The prices of some specific brands like Jingbo (Haiyun), Runhai, and Modong (Xin Bohai) also had corresponding changes [4]. Basis and Spread - **Basis**: The basis in Shandong, East China, and South China showed different trends. For example, the Shandong basis on July 8 was - 9, with a daily change of - 13 and a weekly change of - 25 [4]. - **Monthly Spread**: The spreads between different contract months (03 - 06, 06 - 09, 09 - 12, 12 - 03) also had their own changes. For instance, the 06 - 09 spread on July 8 was - 297, with a daily change of - 15 and a weekly change of 12 [4]. Crack Spread and Profit - **Crack Spread**: The asphalt Brent crack spread on July 8 was - 64, with a daily change of - 57 and a weekly change of - 135 [4]. - **Profit**: The ordinary refinery comprehensive profit on July 8 was 442, with a daily decrease of 42 and a weekly decrease of 97. The import profits from South Korea to East China and Singapore to South China also had different changes [4]. Related Prices - **Crude Oil and Product Prices**: The Brent crude oil price on July 8 was 69.6, with a daily increase of 1.3 and a weekly increase of 2.5. The prices of gasoline, diesel, and residue oil in the Shandong market also changed [4].

Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Core Viewpoints - This week, the high - sulfur crack spread fluctuated and declined, the near - month spread decreased, and EW oscillated at a low level. The 380 8 - 9 month spread dropped to $3.25, the basis oscillated at a low level, the FU09 domestic - foreign spread weakened significantly, and the domestic delivery volume was large, maintaining a loose pattern. [5] - The Singapore 0.5 crack spread declined slightly, the monthly spread oscillated, and the 8 - 9 month spread oscillated around $6. The LU domestic - foreign spread remained strong, with LU09 oscillating around $17. [5] - This week, there was an inventory build - up on land in Singapore. The window was under delivery pressure, and the near - month contract was under pressure. Recently, fuel oil exports from Iran and Iraq remained at a high level, Egypt's net imports reached a new high, the high - sulfur supply and demand was still in the peak season, and the domestic - foreign spread had dropped rapidly. The valuation of the low - sulfur on the external market was relatively high, and the LU domestic - foreign spread was running at a high level. One should pay attention to the domestic production situation. [6] 3. Data Summary Rotterdam Fuel Oil Swap Data | Type | Change | |--|--| | Rotterdam 3.5% HSF Swap M1 | +$9.14 | | Rotterdam 0.5% VLSFO Swap M1 | +$6.10 | | Rotterdam HSFO - Brent M1 | +$0.26 | | Rotterdam 10ppm Gasoil Swap M1 | -$6.08 | | Rotterdam VLSFO - Gasoil M1 | +$12.18 | | LGO - Brent M1 | -$2.02 | | Rotterdam VLSFO - HSFO M1 | -$3.04 | [3] Singapore Fuel Oil Swap Data | Type | Change | |--|--| | Singapore 380cst M1 | -$1.70 | | Singapore 180cst M1 | -$1.01 | | Singapore VLSFO M1 | -$4.70 | | Singapore Gasoil M1 | +$1.36 | | Singapore 380cst - Brent M1 | +$0.25 | | Singapore VLSFO - Gasoil M1 | -$14.77 | [3] Singapore Fuel Oil Spot Data | Type | Change | |--|--| | FOB 380cst | -$1.05 | | FOB VLSFO | -$5.58 | | 380 Basis | +$0.15 | | High - sulfur Domestic - foreign Spread | -$1.8 | | Low - sulfur Domestic - foreign Spread | +$0.7 | [4] Domestic FU Data | Type | Change | |--|--| | FU 01 | -9 | | FU 05 | -11 | | FU 09 | -19 | | FU 01 - 05 | +2 | | FU 05 - 09 | +8 | | FU 09 - 01 | -10 | [4] Domestic LU Data | Type | Change | |--|--| | LU 01 | -12 | | LU 05 | -8 | | LU 09 | -2 | | LU 01 - 05 | - | | LU 05 - 09 | -6 | | LU 09 - 01 | +10 | [5]

s 疯皮期货 华东标品基差 500 r 300 100 -10QV -300 -500 500 300 100 -100 -300 -500 2019 - 2022 - 2020 2019 -- 2022 - 2019 -- 2022 2021 - 2020 -- 2021 - 2020 -- 2021 2023 2024 2025 2023 - 2024 - 2025 - 2023 · 2024 · 2025 华东非标基差 山东非标基差(+80) 华南非标基差 500 700 - 700 г 300 500 500 100 300 300 100 -1007 100 -300 -100~ -100% -500 -300 -300 2019 2020 2021 2022 2019 - 2022 · 2020 - 2021 - 2021 - 2022 = 2019 · 2020 · 2023 2024 2023 2025 · 2024 - 2025 - 2023 2024 - 2025 BU09-12 BU06-09 BU03-06 500 - 500 - 500 300 - 300 300 100 100 1 ...

Report Summary 1) Report Industry Investment Rating No information provided. 2) Report Core Viewpoint No information provided. 3) Summary by Relevant Catalog Futures Contracts - The closing price of the BU main contract on July 4 was 3576, a daily change of -12 and a weekly change of 13 [4]. - The trading volume on July 4 was 173,087, a daily change of -15,451 and a weekly change of -146,096 [4]. - The open interest on July 4 was 472,725, a daily change of -1,882 and a weekly change of -24,713 [4]. Spot Market - The low - end price in the Shandong market on July 4 was 3570, with a daily change of 0 and a weekly change of -10 [4]. - The low - end price in the East China market on July 4 was 3670, with a daily change of 20 and a weekly change of 20 [4]. Basis and Calendar Spread - The Shandong basis on July 4 was -6, with a daily change of 12 and a weekly change of -23 [4]. - The East China basis on July 4 was 94, with a daily change of 32 and a weekly change of 7 [4]. Crack Spread and Profit - The asphalt Brent crack spread on July 4 was -31, with a daily change of 16 and a weekly change of -64 [4]. - The ordinary refinery comprehensive profit on July 4 was 508, with a daily change of 10 and a weekly change of -76 [4]. Related Prices - The price of Brent crude oil on July 4 was 68.8, with a daily change of -0.3 and a weekly change of 1.0 [4]. - The Shandong market price of gasoline on July 4 was 7852, with a daily change of -10 and a weekly change of -74 [4].

Report Information - Report Title: Fuel Oil Morning Report - Research Team: Energy and Chemicals Team of the Research Center - Date: July 4, 2025 [2] Core Viewpoints - This week, the high-sulfur cracking fluctuated and declined, the near-month spread decreased, and the EW weakened rapidly. The 380 8-9 spread dropped to $4.25, the basis oscillated at a low level, the FU07 internal and external spread oscillated at -$5, and the 09 spread oscillated at +$10. There was a large amount of delivery goods in the near month, maintaining a loose pattern. [4] - The 0.5 cracking in Singapore rebounded, the spread decreased to around $5, the basis weakened slightly, and oscillated at $6. The LU internal and external spread remained strong, with the 09 oscillating at around $17. [7] - This week, the onshore inventory in Singapore increased, the floating storage oscillated at a high level, the low-sulfur floating storage decreased slightly, the onshore inventory in ARA increased slightly, but the inventory was still at the lowest level in the same period in history, the floating storage inventory oscillated, and the low-sulfur floating storage increased. The onshore inventory in Fujairah increased significantly, and the floating storage decreased slightly. [7] - This week, the geopolitical risk was lifted. Recently, the fuel oil exports from Iran and Iraq remained at a high level, and Egypt's net imports reached a new high. The high-sulfur fundamentals were in an oscillating pattern. Recently, the high-sulfur was still in the peak power generation season, the near-month internal and external spreads of FU were suppressed, the valuation was low, and the game continued. Subsequently, pay attention to the shipping situation in the Middle East. The LU internal and external spreads were running at a high level, and pay attention to the domestic production situation. [7] Data Summary Rotterdam Market | Product | Change | | --- | --- | | 3.5% HSF Swap M1 | +$2.03 | | 0.5% VLSFO Swap M1 | +$6.35 | | HSFO-Brent M1 | -$0.30 | | 10ppm Gasoil Swap M1 | +$10.10 | | VLSFO-GO M1 | -$3.75 | | LGO-Brent M1 | +$1.48 | | VLSFO-HSFO M1 | +$4.32 | [3] Singapore Market Swap Data | Product | Change | | --- | --- | | 380cst M1 | +$2.80 | | 180cst M1 | +$3.46 | | VLSFO M1 | +$4.37 | | GO M1 | +$0.94 | | 380cst-Brent M1 | -$0.39 | | VLSFO-GO M1 | -$2.59 | [6] Spot Data | Product | Change | | --- | --- | | FOB 380cst | +$0.30 | | FOB VLSFO | +$3.62 | | 380 Basis | -$1.50 | | High-sulfur Internal and External Spread | -$1.5 | | Low-sulfur Internal and External Spread | +$0.2 | [3] Domestic Market FU Data | Product | Change | | --- | --- | | FU 01 | +18 | | FU 05 | +14 | | FU 09 | +27 | | FU 01 - 05 | +4 | | FU 05 - 09 | -13 | | FU 09 - 01 | +9 | [3] LU Data | Product | Change | | --- | --- | | LU 01 | +27 | | LU 05 | +25 | | LU 09 | +27 | | LU 01 - 05 | +2 | | LU 05 - 09 | -2 | | LU 09 - 01 | 0 | [4]

Group 1: Report Core Data - The prices of South China LPG, East China LPG, Shandong LPG, Propane CFR South China, Propane CIF Japan, MB Propane Spot, CP Forecast Contract Price, Shandong Ether Rear Carbon Four, Shandong Alkylated Oil, Paper Import Profit, and Main Contract Basis on July 1, 2025, are 4690, 4582, 4600, 580, 530, 72, 556, 5120, 7850, -86, and 482 respectively [1] - The daily changes of these data are -10, -18, 20, 10, 6, -2, -3, 110, 0, -91, and 4 respectively [1] Group 2: Market Conditions Summary - The weekly view shows that the market is mainly stabilizing. The PG futures price has weakened, with a small change in the monthly spread (the latest 08 - 09 spread is 100). The arbitrage window from the US to the Far East is closed. The cheapest deliverable is East China civil LPG at 4582 [1] - The PP price has weakened, FEI and CP prices are basically the same, and the PDH production profit has deteriorated. The civil LPG price first rose and then fell. The overall supply is relatively large, and high - price products are resisted by downstream customers. The PG futures price has fallen sharply, the basis has strengthened to 345, and the monthly spread has changed little [1] - The external market price has weakened significantly, the oil - gas ratio has first decreased and then increased. The internal - external price difference has dropped significantly, the PG - CP has weakened to -4 (-33), and the FEI - CP has weakened significantly. The import price has dropped significantly [1] - The PDH spot production profit has improved, the paper - based production profit has increased, the alkylated oil profit has increased significantly, the MTBE gas separation etherification profit is basically flat, and the isomerization etherification profit has increased [1] Group 3: Fundamental Analysis - The port inventory has increased due to more arrivals, the factory inventory has increased slightly with regional differentiation (East China's inventory has decreased, while South China and Shandong's have increased), and the external sales have increased [1] - The PDH operating rate has increased to 70.54% (+4.33 pct), the alkylation operating rate is 46.02% (-1.84 pct), and the MTBE output is basically flat. The number of registered warehouse receipts is 8358 lots (+0) [1] Group 4: Market Forecast - Next week, it is expected that the PDH and alkylation operating rates will increase slightly, the combustion demand will remain weak, low prices will stimulate sales, and the subsequent prices will generally be stable [1]