Group 1: Macro Economic Insights - The IMF projects global economic growth rates of 3.3% for 2026 and 3.2% for 2027, an increase of 0.2 percentage points from previous forecasts[8] - The ACC's global chemical production index remained flat in December, with a slight increase of 0.3% in the Asia-Pacific region, while North America and Europe saw declines of 0.8%[8] - Since 2022, the number of chemical plant closures in Europe has surged sixfold, with a cumulative capacity loss of 37 million tons, representing about 9% of Europe's capacity[8] Group 2: Chemical Industry Outlook - The chemical industry is expected to improve sustainably, driven by enhanced domestic competitiveness and stable profitability among industry leaders[8] - Despite current oil prices being relatively low, they are still higher than the levels seen at the start of previous cycles, indicating a need to monitor oil price fluctuations[8] Group 3: Financial Market Overview - In the week ending February 6, 2026, global stock markets showed mixed results, with the Dow Jones and European stocks leading gains; the average daily trading volume in the domestic equity market was 23,880 billion yuan, down from 30,365 billion yuan[11][17] - The 1Y Chinese government bond yield rose by 2.08 basis points to 1.3207%, while the 10Y yield fell by 0.1 basis points to 1.8102%[12] Group 4: Commodity Tracking - WTI crude oil prices fell by 2.5% to $63.55 per barrel, with U.S. crude oil production decreasing by 263,000 barrels per day year-on-year[29] - Gold prices increased by 1.77% to $4,966.61 per ounce, with the Chinese central bank continuing to increase its gold reserves by 40,000 ounces in January[43]

Group 1: Investment Ratings - No investment rating for the industry is provided in the report [1] Group 2: Core Views - The future market may be more affected by US economic data's impact on Fed policy expectations and geopolitical disruptions. In the short - term, the precious metals market will maintain a strong oscillation, with gold's upward momentum increasing above the 20 - day moving average, and long positions should continue to be held [1] - Driven by factors such as capital sentiment, the short - term silver price trend is strong and hard to predict the peak, but the market fluctuates greatly. It is recommended to pay attention to risk control measures of exchanges, maintain the idea of buying on dips with light positions and lock in profits in a timely manner [1] - Platinum and palladium, supported by macro - financial attributes and a tight supply pattern, form a linkage with the rising trend of gold, and their price centers continue to rise. Given the current RMB appreciation, the overseas market prices perform stronger than the domestic ones, and it is recommended to buy on dips [1] Group 3: Summary by Relevant Catalogs Domestic Futures Closing Prices - The AU2604 contract rose 27.68 yuan/g to 1143.32 yuan/g, a 2.48% increase from January 23rd to January 26th - The AG2604 contract rose 2242 yuan/ten grams to 27207 yuan/ten grams, an 8.98% increase - The PT2606 contract rose 58.80 yuan/g to 744.70 yuan/g, an 8.57% increase - The PD2606 contract rose 36.85 yuan/g to 534.80 yuan/g, a 7.40% increase [1] Foreign Futures Closing Prices - The COMEX gold主力 contract rose 21.70 to 5004.80, a 0.44% increase - The COMEX silver主力 contract rose 0.63 to 103.89, a 0.61% increase - The NYMEX platinum主力 contract fell 197.60 to 2575.60 dollars/ounce, a 7.13% decrease - The NYMEX palladium主力 contract fell 54.50 to 1992.50, a 2.66% decrease [1] Spot Prices - London gold rose 28.57 to 5009.88, a 0.57% increase - London silver rose 0.53 to 103.87, a 0.52% increase - Platinum rose 106.00 to 2811.00 dollars/ounce, a 3.92% increase - Palladium rose 116.00 to 2092.00, a 5.87% increase - Shanghai Gold Exchange's gold T + D rose 33.91 yuan/g to 1144.26 yuan/g, a 3.05% increase - Shanghai Gold Exchange's silver T + D rose 2525 yuan/ten grams to 27513 yuan/ten grams, a 10.10% increase - Shanghai Gold Exchange's platinum 9995 rose 52 yuan/g to 733 yuan/g, a 7.59% increase [1] Basis - The basis of gold TD - Shanghai gold主力 increased 6.23 to 0.94, at the 46.10% quantile of the past year - The basis of silver TD - Shanghai silver主力 increased 283 to 306, at the 60.60% quantile of the past year - The basis of London gold - COMEX gold increased 6.87 to 5.08, at the 99.60% quantile of the past year - The basis of London silver - COMEX silver decreased 0.10 to - 0.02, at the 69.00% quantile of the past year [1] Price Ratios - The COMEX gold/silver ratio fell 0.08 to 48.17, a 0.17% decrease - The Shanghai Futures Exchange gold/silver ratio fell 2.67 to 42.02, a 5.96% decrease - The NYMEX platinum/palladium ratio fell 0.06 to 1.29, a 4.58% decrease - The Guangzhou Futures Exchange platinum/palladium ratio rose 0.02 to 1.39, a 1.09% increase [1] Interest Rates and Exchange Rates - The 10 - year US Treasury yield fell 0.02 to 4.22, a 0.5% decrease - The 2 - year US Treasury yield fell 0.04 to 3.56, a 1.1% decrease - The 10 - year TIPS Treasury yield fell 0.02 to 1.90, a 1.0% decrease - The US dollar index fell 0.45 to 97.05, a 0.47% decrease - The on - shore RMB exchange rate rose 0.0006 to 6.9492, a 0.01% increase [1] Inventory and Positions - The Shanghai Futures Exchange's gold inventory rose 1020 to 103050 ten grams, a 1.00% increase - The Shanghai Futures Exchange's silver inventory fell 7280 to 573810, a 1.25% decrease - The COMEX gold inventory fell 202778 to 35941502, a 0.56% decrease - The COMEX silver inventory fell 1183026 to 415241837, a 0.28% decrease - The COMEX gold registered warehouse receipts fell 386 to 18845680, a 0.00% decrease - The COMEX silver registered warehouse receipts remained unchanged at 114262775 - The SPDR gold ETF position remained unchanged at 1087 - The SLV silver ETF position fell 115.58 to 15974, a 0.72% decrease [1]

Core Viewpoints - The report emphasizes a historical profit recovery reference, indicating a positive outlook for a longer chemical cycle, driven by various factors including raw material price fluctuations, macroeconomic demand, supply cycles, and technological advancements [8][9]. Global Asset Review - During the week of January 23, global stock markets, except for A-shares, generally declined, while major commodity futures such as crude oil, gold, copper, and aluminum saw price increases. The dollar index fell, leading to appreciation of the Renminbi, Yen, and Euro [11][12]. - The performance ranking of equity markets was led by the Sci-Tech 50, followed by the Shenzhen Component Index and others, with significant movements in various sectors [11][12]. Domestic Equity Market Review - As of January 23, the domestic equity market showed a preference for cyclical stocks over growth, consumption, and finance, with an average daily trading volume of 27,750 billion Yuan. Among the 31 sectors, 24 experienced gains, with construction materials, oil and petrochemicals, and steel leading the increases [18][19]. Interest Rate and Exchange Rate Tracking - The report notes that short-term interest rates are expected to stabilize following the end of the tax period, with a significant amount of medium to long-term deposits maturing in the first half of the year. The central bank's supportive stance is anticipated to mitigate liquidity pressures [9][20]. - The report highlights that the long-term bond yields are expected to remain under pressure due to concerns over supply and macroeconomic recovery, while short-term rates may see slight increases [21][22]. Commodity Tracking - Crude oil prices increased to $61.07 per barrel, with U.S. crude production rising to 13.732 million barrels per day, reflecting a year-on-year increase of 255,000 barrels per day [29]. - Gold prices reached a new high of $4,981.31 per ounce, driven by geopolitical tensions and market expectations of future interest rate cuts by the Federal Reserve [45][46]. Industry and Themes - The report suggests a favorable outlook for the chemical sector, driven by historical profit recovery trends and the anticipated upward cycle due to reduced capacity in Europe and Japan, along with a slowdown in new domestic projects [8][9]. - The application of AI in the industry is also highlighted as a potential growth area, alongside recommendations for investment in the chemical and non-ferrous sectors for 2026 [8].

1. Report's Industry Investment Rating - No relevant information provided 2. Core View of the Report - The market may be more affected by the impact of US economic data on Federal Reserve policy expectations and geopolitical situation disturbances. In general, the short - term news impact weakens, the market maintains a relatively strong oscillation, and the volatility declines. Gold long - positions above the 20 - day moving average can be held, and out - of - the - money put options can be sold to earn time value [1] - For silver, the short - term suspension of the 232 investigation tariff by the US and the exchange's position - limit measures have eased the capital sentiment. The price may enter a high - level oscillation. Unilateral trading should be cautious, and out - of - the - money options can be sold to earn volatility - reduction returns [1] - Platinum and palladium are affected by the macro and supply - demand fundamentals and follow the relatively strong oscillation of gold in the short term, but the fluctuation space narrows. Platinum futures are recommended to be traded in a high - selling and low - buying manner around the 20 - day moving average, with a fluctuation range of 587 - 640 yuan. Palladium shows relatively weaker performance than platinum, and out - of - the - money call options above 510 yuan can be sold [1] 3. Summary According to the Catalog Domestic Futures Closing Prices - AU2604 contract closed at 1048.88 yuan/gram on January 19, up 16.56 yuan (1.60%) from January 16 [1] - AG2604 contract closed at 23,189 yuan/10 grams on January 19, up 706 yuan (3.14%) from January 16 [1] - PT2606 contract closed at 615.10 yuan/gram on January 19, up 5.05 yuan (0.83%) from January 16 [1] - PD2606 contract closed at 477.95 yuan on January 19, up 8.60 yuan (1.83%) from January 16 [1] Foreign Futures Closing Prices - COMEX gold主力合约 closed at 4,601.10 dollars/ounce on January 19, down 19.40 dollars (- 0.42%) from January 16 [1] - COMEX silver主力合约 closed at 89.95 dollars/ounce on January 19, down 2.27 dollars (- 2.46%) from January 16 [1] - NYMEX platinum主力合约 closed at 2,342.90 dollars/ounce on January 19, down 72.90 dollars (- 3.02%) from January 16 [1] - NYMEX palladium主力合约 closed at 1,846.50 dollars/ounce on January 19, down 19.00 dollars (- 1.02%) from January 16 [1] Spot Prices - London gold was at 4,671.72 dollars/ounce, up 72.68 dollars (1.58%) from the previous value [1] - London silver was at 94.40 dollars/ounce, up 4.26 dollars (4.73%) from the previous value [1] - Spot platinum was at 2,374.54 dollars/ounce, up 46.09 dollars (1.98%) from the previous value [1] - Spot palladium was at 1,841.56 dollars/ounce, up 41.81 dollars (2.32%) from the previous value [1] - Shanghai Gold Exchange's gold T + D was at 1,045.27 yuan/gram, up 14.18 yuan (1.38%) from the previous value [1] - Shanghai Gold Exchange's silver T + D was at 23,136 yuan/10 grams, up 495 yuan (2.19%) from the previous value [1] - Shanghai Gold Exchange's platinum 9995 was at 605 yuan/gram, up 3 yuan (0.45%) from the previous value [1] Basis - Gold TD - Shanghai gold主力: The current value was - 3.61, down 2.38 from the previous value, with a 1 - year historical quantile of 46.10% [1] - Silver TD - Shanghai silver主力: The current value was - 53, down 211 from the previous value, with a 1 - year historical quantile of 60.60% [1] - London gold - COMEX gold: The current value was - 2.06, up 2.92 from the previous value, with a 1 - year historical quantile of 92.90% [1] - London silver - COMEX silver: The current value was 0.19, unchanged from the previous value, with a 1 - year historical quantile of 90.00% [1] Price Ratios - COMEX gold/silver: The current value was 51.15, up 1.05 (2.09%) from the previous value [1] - SHFE gold/silver: The current value was 45.23, down 0.68 (- 1.49%) from the previous value [1] - NYMEX palladium/platinum: The current value was 1.27, down 0.03 (- 2.02%) from the previous value [1] - GZFE platinum/palladium: The current value was 1.29, down 0.01 (- 0.99%) from the previous value [1] Interest Rates and Exchange Rates - 10 - year US Treasury yield: The current value was 4.24%, up 0.09% (2.2%) from the previous value [1] - 2 - year US Treasury yield: The current value was 3.59%, up 0.08% (2.3%) from the previous value [1] - 10 - year TIPS Treasury yield: The current value was 1.91%, up 0.05% (2.7%) from the previous value [1] - US dollar index: The current value was 99.04, down 0.33 (- 0.33%) from the previous value [1] - Offshore RMB exchange rate: The current value was 6.9568, down 0.0106 from the previous value [1] Inventory and Positions - SHFE gold inventory: The current value was 1,000,530 grams, down 63 grams (- 0.06%) from the previous value [1] - SHFE silver inventory: The current value was 617,760 kilograms, down 9,083 kilograms (- 1.45%) from the previous value [1] - COMEX gold inventory: The current value was 36,135,901 ounces, up 3,000 ounces (0.01%) from the previous value [1] - COMEX silver inventory: The current value was 429,156,441 ounces, down 4,225,669 ounces (- 0.98%) from the previous value [1] - COMEX gold registered warehouse receipts: The current value was 18,864,397 ounces, up 40,600 ounces (0.22%) from the previous value [1] - COMEX silver registered warehouse receipts: The current value was 120,632,557 ounces, down 2,571,966 ounces (- 2.09%) from the previous value [1] - SPDR gold ETF position: The current value was 1,086 tons, up 10.87 tons (1.01%) from the previous value [1] - SLV silver ETF position: The current value was 16,073 tons, up 11.28 tons (0.07%) from the previous value [1]

Core Viewpoints - The report highlights the divergence in commodity trends and the continuous growth of high-tech investments in China and the US, with significant performance variations in global stock markets and commodities [8][11]. Global Asset Review - As of December 19, global stock markets showed mixed results, with European markets performing better; major commodities like gold, copper, and aluminum saw price increases, while oil prices declined [11][12]. - The report notes that the UK FTSE 100 outperformed other indices, while the Hang Seng Tech Index and Nikkei 225 faced pressure [11]. - The report indicates that gold prices rose slightly due to expectations of interest rate cuts and geopolitical risks, while oil prices fell due to concerns over oversupply [12]. Domestic Equity Market Review - In the domestic equity market, financials outperformed other sectors, with an average daily trading volume of 17,410 billion yuan, down from 19,359 billion yuan [18]. - Among the 31 sectors tracked, 19 sectors saw gains, with retail trade (+6.66%), non-bank financials (+2.90%), and beauty care (+2.87%) leading the way, while electronics (-3.28%) and power equipment (-3.12%) lagged [18][19]. Interest Rate and Exchange Rate Tracking - The report notes a continued loose monetary environment, with the central bank conducting reverse repos to maintain liquidity, while the bond market is expected to remain stable amid weak recovery signals [20][22]. - The US bond market showed a cautious decline in yields, with the 10-year Treasury yield at 4.16%, reflecting mixed signals from employment and inflation data [26][28]. - The report highlights the strong performance of the renminbi, supported by domestic economic resilience and favorable external conditions, with the currency appreciating against the US dollar [30][31]. Commodity Tracking - The report tracks energy commodities, noting that WTI crude oil prices fluctuated around $56.52 per barrel, with US crude oil production increasing year-on-year [32]. - It also highlights the significant drop in liquefied natural gas prices in China, attributed to high inventory levels and weak demand [36].

1. Report Industry Investment Rating - No information provided in the reports 2. Core Views - The reports present the latest data on various financial products including stock index futures spreads, treasury bond futures spreads, precious metal spot - futures, and container shipping industry spot - futures, along with their changes compared to previous periods and historical percentile rankings [1][3][5][7] 3. Summary by Directory Stock Index Futures Spreads - **IF, IH, IC, IM Spreads**: The reports provide data on the current spreads (such as spot - futures spreads and inter - period spreads) of IF, IH, IC, and IM, their changes from the previous day, and historical percentile rankings. For example, the IC spot - futures spread is 28.37, up 13.73 from the previous day, with a 1 - year historical percentile of 70.00% [1] - **Cross - variety Ratios**: Data on cross - variety ratios such as CSI 500/CSI 300, CSI 500/SSE 50, etc., are presented, including their values, changes, and historical percentile rankings. For instance, the CSI 500/CSI 300 ratio is 1.5519, up 0.0037 from the previous day, with a 1 - year historical percentile of 75.00% [1] Treasury Bond Futures Spreads - **Basis**: The basis data of TS, TF, T, and TL are given, along with their changes from the previous trading day and the percentile rankings since listing. For example, the TS basis is 1.5385, down 0.0283 from the previous day, with a percentile ranking of 23.60% [3] - **Inter - period Spreads**: Inter - period spreads (such as current quarter - next quarter, current quarter - far quarter) of TS, TF, T, and TL are provided, including their values, changes, and historical percentile rankings [3] - **Cross - variety Spreads**: Cross - variety spreads such as TS - TF, TS - T, etc., are presented, along with their values, changes, and historical percentile rankings [3] Precious Metal Spot - Futures - **Domestic and Overseas Futures Closing Prices**: Closing prices of domestic and overseas precious metal futures contracts (such as AU2602, COMEX gold, etc.) on different dates are provided, along with their price changes and percentage changes [5] - **Spot Prices**: Spot prices of precious metals (such as London gold, Shanghai Gold Exchange gold T + D, etc.) on different dates are given, along with their price changes and percentage changes [5] - **Basis**: The basis data of precious metals (such as gold TD - Shanghai gold main contract, London gold - COMEX gold, etc.) are presented, including their values, changes, and historical percentile rankings [5] - **Price Ratios**: Price ratios of precious metals (such as COMEX gold/silver, Shanghai Futures Exchange gold/silver, etc.) are provided, along with their values, changes, and percentage changes [5] - **Interest Rates, Exchange Rates, Inventory, and Positions**: Data on interest rates (such as 10 - year US Treasury bond yield), exchange rates (such as US dollar index), inventory (such as Shanghai Futures Exchange gold inventory), and positions (such as SPDR gold ETF holdings) are presented, along with their values, changes, and percentage changes [5] Container Shipping Industry Spot - Futures - **Shipping Indexes**: Settlement price indexes of SCFIS (European and US West routes) and Shanghai Export Container Freight Index (SCFI) are provided, including their values on different dates, price changes, and percentage changes [7] - **Futures Prices and Basis**: Futures prices of EC contracts (such as EC2602, EC2604, etc.) and the basis of the main contract are presented, along with their values on different dates, price changes, and percentage changes [7] - **Fundamental Data**: Data on container shipping industry fundamentals such as global container shipping capacity supply, port - related indicators (Shanghai port on - time rate, port call situation), monthly export amount, overseas economic indicators (eurozone composite PMI, EU consumer confidence index, US manufacturing PMI, OECD composite leading indicators) are provided, along with their values, changes, and percentage changes [7]

Report 1: Stock Index Futures Spread Daily Report Core View - Presents the latest values, changes from the previous day, and historical quantiles of various stock index futures spreads and cross - variety ratios on August 25, 2025 [1] Summary by Relevant Catalog - **IF Spreads**: The current - to - next - month spread is - 13.00, down 0.60 from the previous day; the far - month to current - month spread is 5.20, up 0.20 [1] - **IH Spreads**: The current - to - next - month spread is 2.20, down 6.20 from the previous day; the far - month to current - month spread is 34.80, down 242.60 [1] - **IC Spreads**: The current - to - next - month spread is - 46.80, down 1.00 from the previous day; the far - month to current - month spread is - 312.60, up 19.50 [1] - **IM Spreads**: The current - to - next - month spread is - 109.20, up 1.60 from the previous day; the far - month to current - month spread is - 265.80, up 2.20 [1] - **Cross - Variety Ratios**: The ratio of CSI 500 to SSE 50 is 2.3297, down 0.0126 from the previous day; the ratio of CSI 1000 to SSE 300 is 1.6818, down 0.0097 [1] Report 2: Treasury Bond Futures Spread Daily Report Core View - Displays the latest values, changes from the previous trading day, and historical quantiles of various treasury bond futures spreads and cross - variety spreads on August 25, 2025 [2] Summary by Relevant Catalog - **TS Spreads**: The basis is 1.1805, up 0.0273 from the previous day; the current - to - next - season spread is - 0.0040, up 0.0180 [2] - **TF Spreads**: The basis is 1.2096, up 0.1018 from the previous day; the current - to - next - season spread is 0.1050, up 0.0550 [2] - **T Spreads**: The basis is 0.8328, up 0.5664 from the previous day; the current - to - next - season spread is 0.2550, up 0.1300 [2] - **TL Spreads**: The basis is 0.5625, up 1.0072 from the previous day; the current - to - next - season spread is 0.5100, up 0.0500 [2] - **Cross - Variety Spreads**: The spread between TS and TF is - 3.0520, up 0.0720 from the previous day; the spread between TF and T is - 2.2900, up 0.2600 [2] Report 3: Precious Metals Spot - Futures Daily Report Core View - Provides domestic and foreign futures closing prices, spot prices, basis, ratios, interest rates, exchange rates, inventory, and positions of precious metals on August 25, 2025 [10] Summary by Relevant Catalog - **Domestic Futures Closing Prices**: The AU2510 contract closed at 773.40 yuan/gram, down 0.22% from the previous day; the AG2510 contract closed at 9192 yuan/kilogram, up 0.33% [10] - **Foreign Futures Closing Prices**: The COMEX gold main contract closed at 3417.20 US dollars/ounce, up 1.00%; the COMEX silver main contract closed at 38.88, up 2.05% [10] - **Spot Prices**: London gold was at 3371.24 US dollars/ounce, up 0.97%; London silver was at 38.89, up 2.01% [10] - **Basis**: The basis of gold TD - Shanghai gold main contract is - 1.77, up 1.69 from the previous day; the basis of silver TD - Shanghai silver main contract is - 10, up 8 [10] - **Ratios**: The ratio of COMEX gold to silver is 87.89, down 1.03% from the previous day; the ratio of SHFE gold to silver is 84.14, down 0.55% [10] - **Interest Rates and Exchange Rates**: The 10 - year US Treasury yield is 4.26%, down 1.6%; the US dollar index is 97.72, down 0.94% [10] - **Inventory and Positions**: The SHFE gold inventory is 37455 kilograms, up 2.22%; the SHFE silver inventory is 1109123, down 0.53% [10] Report 4: Container Shipping Industry Spot - Futures Daily Report Core View - Shows spot quotes, container shipping indices, futures prices, basis, and fundamental data of the container shipping industry on August 25, 2025 [11] Summary by Relevant Catalog - **Spot Quotes**: The Shanghai - Europe 6 - week future freight rate of MAERSK is 2273 US dollars/FEU, down 3.28% from the previous day; that of CMA CGM is 2464, down 0.61% [11] - **Container Shipping Indices**: The SCFIS (European route) settlement price index is 2180.17, down 2.47% from August 11; the SCFIS (US West route) is 1106.29, up 2.23% [11] - **Futures Prices and Basis**: The EC2602 futures price is 1465.0, down 3.17% from the previous day; the basis of the main contract is 750.2, down 1.99% [11] - **Fundamental Data**: The global container shipping capacity supply is 3293.04 FTEU, unchanged; the port on - time rate in Shanghai is 32.58%, down 5.76% [11] Report 5: Trading Calendar Core View - Lists overseas and domestic data and information release schedules on August 25, 2025 [12] Summary by Relevant Catalog - **Overseas Data/Information**: The US will release USDA export inspection and crop growth data; HAD will release Brazilian secex reports [12] - **Domestic Data/Information**: For manganese silicon, data on global manganese ore shipments, arrivals, and port inventories will be released; for crude oil, Shandong local refinery crude oil arrivals will be released at 14:00 [12]

Report Industry Investment Rating - No relevant information provided Core Viewpoints - No clear core viewpoints presented in the reports Summary by Relevant Catalogs Futures Spread Report - **Stock Index Futures** - IC期现价差最新值为 -75.56，较前一日变化 17.40，历史 1 年分位数 17.60%，全历史分位数 7.00% [1] - IM期现价差最新值为 -80.01，较前一日变化 12.73，历史 1 年分位数 90.00%，全历史分位数 18.00% [1] - IF跨期价差、IH跨期价差、IN跨期价差等各合约价差有不同程度变化及分位数情况 [1] - 跨品种比值如 IC/IF 为 1.5353，较前一日变化 0.0008，历史 1 年分位数 99.50%，全历史分位数 82.90% 等 [1] - **Treasury Bond Futures** - TS基差最新值为 1.1662，较前一日变化 0.0396，上市以来百分位数 9.10% [2] - TF基差最新值为 1.4695，较前一日变化 0.0230，上市以来百分位数 36.90% [2] - TL基差最新值为 2.5075，较前一日变化 0.0575，上市以来百分位数 86.00% [2] - 各品种跨期价差和跨品种价差有不同程度变化及分位数情况 [2] Precious Metals Report - **Domestic Futures** - AU2510合约 8 月 12 日收盘价 776.04 元/克，较前一日跌 3.44 元，跌幅 0.44% [5] - AG2510合约 8 月 12 日收盘价 9187 元/千克，较前一日跌 23 元，跌幅 0.25% [5] - **Foreign Futures** - COMEX黄金主力合约 8 月 12 日收盘价 3393.70，较前一日跌 64.50，跌幅 1.87% [5] - COMEX白银主力合约 8 月 12 日收盘价 37.65 美元/盎司，较前一日跌 0.86，跌幅 2.25% [5] - **Spot Prices** - 伦敦金 8 月 12 日价格 3347.64，较前一日涨 5.89，涨幅 0.18% [5] - 伦敦银 8 月 12 日价格 37.89 美元/盎司，较前一日涨 0.31，涨幅 0.81% [5] - **Basis** - 黄金 TD - 沪金主力现值 -2.87，较前值涨 0.75，历史 1 年分位数 29.70% [5] - 白银 TD - 沪银主力现值 -24，较前值涨 13，历史 1 年分位数 47.70% [5] - **Price Ratios** - COMEX 金/银现值 90.15，较前一日涨 0.35，涨幅 0.39% [5] - 上期所金/银现值 84.47，较前一日跌 0.16，跌幅 0.19% [5] - **Interest Rates and Exchange Rates** - 10 年期美债收益率现值 4.29，较前值涨 0.02，涨幅 0.5% [5] - 2 年期美债收益率现值 3.72，较前值跌 0.04，跌幅 1.1% [5] - 美元指数现值 98.07，较前值跌 0.43 [5] - 离岸人民币汇率现值 7.1856，较前值跌 0.0107，跌幅 0.44% [5] - **Inventory and Positions** - 上期所黄金库存现值 36045 千克，较前值无变化 [5] - 上期所白银库存现值 1151209，较前值跌 753，跌幅 0.07% [5] - COMEX 黄金库存现值 38617003，较前值无变化 [5] - COMEX 白银库存现值 507041876，较前值涨 600095，涨幅 0.12% [5] Container Shipping Report - **Spot Quotes** - MAERSK马士基 8 月 13 日上海 - 欧洲未来 6 周运价参考 2651 美元/FEU，较前一日涨 152，涨幅 6.08% [6] - CMA 达飞 8 月 13 日运价 3199，较前一日涨 9，涨幅 0.28% [6] - MSC 地中海 8 月 13 日运价 2860，较前一日涨 15，涨幅 0.53% [6] - **Container Shipping Index** - SCFIS (欧洲航线) 8 月 11 日结算价指数 2235.48，较 8 月 4 日跌 62.4，跌幅 2.71% [6] - SCFIS (美西航线) 8 月 11 日结算价指数 1082.14，较 8 月 4 日跌 48.0，跌幅 4.25% [6] - SCFI 综合指数 8 月 8 日 1489.68，较 8 月 1 日跌 61.1，跌幅 3.94% [6] - **Futures Prices and Basis** - EC2602 合约 8 月 12 日价格 1528.0，较前一日涨 10.9，涨幅 0.72% [6] - EC2604 合约 8 月 12 日价格 1350.0，较前一日涨 5.1，涨幅 0.38% [6] - 主力合约 EC2508 8 月 12 日价格 2082.0，较前一日涨 2.0，涨幅 0.10% [6] - 基差(主力) 8 月 12 日 753.4，较前一日跌 47.4，跌幅 5.92% [6] - **Fundamental Data** - 全球集装箱运力供给 8 月 13 日 3282.66 万 TEU，较前一日无变化 [6] - 上海港口准班率 7 月 32.58，较上月跌 1.99，跌幅 5.76% [6] - 上海港口挂靠情况 7 月 310.00 个，较上月跌 14.00，跌幅 4.32% [6] - 月度出口金额 7 月 3217.80 亿美元，较上月跌 34.53，跌幅 1.06% [6] Trading Calendar Report - **Overseas Data/Information** - At 0:00, EIA will release the monthly short - term energy outlook report [7] - At 4:30, the API crude oil inventory (in 10,000 barrels) for the week ending August 8 in the US will be announced [7] - At 22:30, the EIA crude oil inventory (in 10,000 barrels) for the week ending August 8 in the US will be announced [7] - **Domestic Data/Information** - In the evening, the weekly production and sales survey of 523 mines by the Steel Union for coking coal will be carried out [7] - At 14:30, Longzhong Information will release the commercial crude oil inventory (in 10,000 tons) at Chinese ports [7] - In the evening, the production - sales ratio of glass and the inventory at the delivery warehouse of soda ash will be concerned [7]

1. Report Industry Investment Rating No industry investment rating information is provided in the reports. 2. Core Views The reports present a comprehensive analysis of various financial products including stock index futures, treasury bond futures, precious metals, shipping, and provide data on price differentials, spreads, ratios, interest rates, exchange rates, inventory, and positions, as well as upcoming economic data releases. 3. Summary by Category Stock Index Futures - **Price Differentials**: The latest values, changes from the previous day, and historical percentile data of various stock index futures price differentials are presented, such as the IF, IH, IC, and IM contracts' price differentials and cross - period spreads [1]. - **Cross - Variety Ratios**: Ratios of different stock index futures, like CSI 500/CSI 300, are provided along with their changes and historical percentiles [1]. Treasury Bond Futures - **Basis and IRR**: The basis and implied repo rate (IRR) data of TS, TF, T, and TL treasury bond futures are given, including their latest values, changes, and historical percentiles [2]. - **Cross - Period and Cross - Variety Spreads**: Cross - period spreads (e.g., current quarter - next quarter) and cross - variety spreads (e.g., TS - TF) are presented with relevant data [2]. Precious Metals - **Spot and Futures Prices**: Spot prices of London gold, London silver, and futures prices of COMEX gold, COMEX silver, and domestic precious metal contracts are provided, along with their changes and percentage changes [4][5][6]. - **Basis, Ratios, and Other Data**: Basis data (e.g., gold TD - Shanghai gold main contract), price ratios (e.g., COMEX gold/silver), interest rates, exchange rates, inventory, and positions are presented [4]. Shipping - **Spot Quotes**: Spot quotes for Shanghai - Europe shipping routes of different shipping companies are given, including their changes and percentage changes [7]. - **Shipping Indexes**: Settlement price indexes such as SCFIS (European route) and SCFI comprehensive index are presented, along with their changes and percentage changes [7]. - **Futures Prices and Basis**: Futures prices of shipping contracts (e.g., EC2602) and the basis of the main contract are provided, along with their changes and percentage changes [7]. - **Fundamental Data**: Data on global container shipping capacity supply, Shanghai port - related indicators, and overseas economic data are presented [7]. Data Calendar - **Overseas Data**: Upcoming economic data releases in the eurozone and the US, such as the eurozone July Sentix investor confidence index and USDA export inspection data, are listed [9]. - **Domestic Data**: Upcoming domestic economic data releases, including China's June foreign exchange reserves and various commodity - related data, are provided [9].

Report Industry Investment Rating - No relevant information provided in the reports. Core Views - The reports present daily data on various futures, including stock index futures, treasury bond futures, precious metal futures, and industrial futures, such as prices, spreads, and related economic indicators, to help investors understand market trends and price movements [1][2][4][7]. Summary by Related Catalogs Stock Index Futures Spread - **Price Difference Data**: Provides price differences and their changes for IF, IH, IC, and IM futures, including spot - futures spreads and inter - period spreads, along with historical percentile data [1]. - **Cross - Variety Ratios**: Presents cross - variety ratios such as CSI 500/Shanghai - Shenzhen 300, IC/IF, etc., and their historical percentile data [1]. Treasury Bond Futures Spread - **Basis and IRR**: Displays basis and IRR data for TS, TF, T, and TL treasury bond futures, along with their changes and historical percentiles [2]. - **Inter - Period Spreads**: Provides inter - period spreads for different maturities of TS, TF, T, and TL futures, and their changes and historical percentiles [2]. - **Cross - Variety Spreads**: Presents cross - variety spreads such as TS - TF, TS - T, etc., and their changes and historical percentiles [2]. Precious Metal Futures and Spot - **Futures and Spot Prices**: Shows domestic and foreign futures closing prices, spot prices, and their changes and price change rates for gold and silver [4]. - **Basis and Ratios**: Provides basis data for gold and silver, as well as price ratios such as COMEX gold/silver and SHFE gold/silver, and their historical percentiles [4]. - **Interest Rates, Exchange Rates, and Inventories**: Displays data on 10 - year and 2 - year US Treasury yields, 10 - year TIPS Treasury yields, US dollar index, offshore RMB exchange rate, and inventory and position data for gold and silver [4]. Industrial Futures and Spot - **Spot Quotes**: Presents spot quotes for shipping companies on the Shanghai - Europe route and their changes and price change rates [7]. - **Shipping Indexes**: Displays settlement price indexes for shipping routes, Shanghai export container freight rates, and their changes and price change rates [7]. - **Futures Prices and Basis**: Provides futures prices and their changes and price change rates for EC contracts, as well as basis data for the main contract [7]. - **Fundamental Data**: Includes data on global container shipping capacity supply, Red Sea detour situation, foreign trade - related indicators, overseas economic indicators, and OECD composite leading indicators [7]. Data and Information Calendar - **Overseas Data/Information**: Lists macro - economic data and energy - chemical data for the US, including time, data sources, and economic indicators [9]. - **Domestic Data/Information**: Presents data on energy - chemical, black - nonferrous, and special commodities in China, including time, data sources, and economic indicators [9].