Announcement on Futures System MaintenanceDear LBank users,For better performance of the Futures system, LBank has scheduled to perform Futures system maintenance at 22:30 (UTC) on August 25, 2025, with an estimated duration of 30 minutes. During this period, Futures trading will be suspended, functions such as placing orders (including trigger orders), canceling orders, modifying orders, adding margin, and fund transfers will be unavailable.Please take necessary measures before maintenance, such as adding ...

Group 1 - The article expresses a beneficial long position in the shares of LVMUY, indicating a positive outlook on the company's stock performance [1] - The author emphasizes the importance of conducting due diligence and research prior to any investment, highlighting the risks associated with short-term trading and options trading [2] - The article clarifies that past performance is not indicative of future results, and no specific investment recommendations are provided [3]

Group 1: Report Industry Investment Rating No relevant content provided. Group 2: Core Viewpoints - The domestic LPG market is expected to continue a narrow - range oscillating trend due to weak combustion demand. Although the chemical demand outlook is strong, the decline in oil prices and international LPG prices has led to a downward trend in the PG market. The cheapest deliverable is the East China civil LPG at 4486. The basis has strengthened to 433 (+93), and the inter - month reverse spread has strengthened. The inventory at ports has increased under high unloading volumes, while the plant inventory has slightly increased. Chemical demand is strong, with the PDH operating rate rising significantly to 71.78% (+10.91pct), and the alkylation operating rate increasing. However, the MTBE export profit has declined [1]. Group 3: Summary by Relevant Catalogs Daily Data - From July 17 to July 23, 2025, 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 - after carbon four, and Shandong alkylated oil showed different changes. The daily change on July 23 showed that South China LPG increased by 20, propane CFR South China increased by 10, propane CIF Japan increased by 19, MB propane spot increased by 2, and CP forecast contract price increased by 18, while other prices remained unchanged. The basis increased by 2 [1]. - The futures market showed that the 08 - 09 spread was 41, and the 08 - 10 spread was - 383. The US - Far East arbitrage window was open. The cheapest deliverable on Wednesday was the East China civil LPG at 4443. FEI and CP continued to decline, PP dropped significantly, and the production profit of PP made from FEI and CP improved, with the CP production cost lower than that of FEI [1]. Weekly Viewpoints - **Market Trend**: The PG futures market oscillated downward. Although the chemical demand outlook is strong, the decline in oil prices and international LPG prices has led to a weakening of the market. The domestic LPG market is expected to continue a narrow - range oscillating trend due to weak combustion demand [1]. - **Basis and Spread**: The basis strengthened to 433 (+93), and the inter - month reverse spread strengthened due to weak spot prices and the shift of the main contract. The number of registered warrants increased by 500 to 8804 hands, with 500 hands added by Qingdao Yunda [1]. - **Regional Spreads and Arbitrage**: The PG - CP spread reached 27 (+8), the FEI - MB spread reached 163 (+6), the FEI - CP spread reached - 5.5 (+9.5), and the US - Asia arbitrage window was open. The FEI - MOPJ spread moved up to - 43.75 (-1.75) [1]. - **Profit and Inventory**: The PDH profit improved, while the MTBE export profit declined. The port inventory increased significantly, and the plant inventory increased slightly. The commodity volume decreased by 0.98% mainly due to reduced supply in South China, increased self - use in Shandong, and limited supply in East China [1]. - **Chemical Demand**: Chemical demand is strong. The PDH operating rate increased significantly to 71.78% (+10.91pct) due to the restart of some plants. The alkylation operating rate increased, and the MTBE export orders increased [1].

Product Launch - Kraken Derivatives US, a CFTC-regulated crypto derivatives platform, has been launched, integrated directly into Kraken Pro [1] - Clients in Vermont, West Virginia, North Dakota, Mississippi, and Washington D C can now access CME-listed Bitcoin, Ethereum, and Solana futures [2] - The platform is built on infrastructure acquired from NinjaTrader and optimized for Kraken's core platform [3] Market Structure - Real-time collateral portability between spot and futures is enabled [3] - Transparent and compliant access via DCM/FCM rails is provided [3] - Integrated risk management, order routing, and position monitoring are available [3] - Institutional-grade liquidity on contracts for BTC, ETH, and SOL is offered [3] Future Plans - Futures on additional asset classes, including commodities, FX, equity indices, and bonds, are on the roadmap [4] - The goal is to build a single system that works across trading modalities: spot, margin, and derivatives [3]

Group 1: Methanol - Report industry investment rating: Not provided - Core view: High imports are being realized, inventory accumulation has begun, and the futures price is undervalued. It is in a period of negative news realization. Pay attention to the actual inventory accumulation situation. With unstable macro - environment and weak methanol prices in Europe and the United States, it's hard to determine the unilateral direction. Due to the low valuation, it is advisable to consider buying at low prices [1] - Summary of related data: From June 11 to June 17, 2025, the price of动力煤期货 remained at 801, the price of江苏现货 increased from 2383 to 2595, the日度变化 was 10, and the盘面MTO利润 remained at - 1001 except for - 986 on June 11 [1] Group 2: Plastic (Polyethylene) - Report industry investment rating: Not provided - Core view: The inventory of polyethylene is neutral overall. The 09 basis is around 0 in North China and +120 in East China. The external markets in Europe, America, and Southeast Asia are stable. The import profit is around - 400 with no further increase for now. The non - standard HD injection price is stable, other price differences are fluctuating, and LD is weakening. The number of maintenance in June decreased month - on - month, and the domestic linear production increased month - on - month. Attention should be paid to the LL - HD conversion and US quotes, as well as the commissioning of new plants in 2025 [6] - Summary of related data: From June 11 to June 17, 2025, the price of东北亚乙烯 increased from 790 to 800, the price of华东LL increased from 7210 to 7415, and the仓单 decreased from 5734 to 5556 [6] Group 3: PP (Polypropylene) - Report industry investment rating: Not provided - Core view: The upstream and middle - stream inventories of polypropylene are decreasing. The basis is +100, the non - standard price difference is neutral, and the import profit is around - 500. Exports have been good this year. The PDH profit is around - 1000, the propylene price is fluctuating, and the powder production start - up is stable. The拉丝 production scheduling is neutral. The supply in June is expected to increase slightly month - on - month. The downstream orders are average currently, and the raw material and finished product inventories are neutral. Under the background of over - capacity, the 09 contract is expected to face moderate to excessive pressure. If exports continue to increase or there are more PDH plant maintenance, the supply pressure can be alleviated to a neutral level [6] - Summary of related data: From June 11 to June 17, 2025, the price of山东丙烯 increased from 6340 to 6410, the price of华东PP increased from 7015 to 7140, and the出口利润 remained at - 20 [6] Group 4: PVC - Report industry investment rating: Not provided - Core view: The basis has strengthened to 09 - 200, and the factory - pickup basis is - 380. The downstream start - up is seasonal, and the willingness to hold goods at low prices is strong. The inventories of the middle and upstream are continuously decreasing. There are seasonal maintenance of northwest plants in summer, and the load center is between the spring maintenance and the high production in Q1. In June, pay attention to the realization of new plant commissioning and the sustainability of exports. The recent export orders are acceptable. In June, macro - factors to watch include the ZZJ meeting and the US interest - rate decision. Coal prices are weak, and the cost of semi - coke is also weak. Calcium carbide may have difficulty expanding profits with PVC maintenance. The FOB counter - offer for caustic soda exports is 400. Pay attention to whether subsequent export orders can support high - price caustic soda. The comprehensive profit of PVC is - 500. Currently, the static inventory at a high level is continuously decreasing, the downstream performance is mediocre, and the macro - environment is neutral. Pay attention to exports, coal prices, commercial housing sales, terminal orders, and start - up [10] - Summary of related data: From June 11 to June 17, 2025, the price of西北电石 decreased from 2350 to 2300, the price of山东烧碱 decreased from 872 to 852, and the price of电石法 - 西北 increased from 4420 to 4450 [10]

Core Viewpoint - Cboe Global Markets has successfully migrated its Financially Settled Bitcoin (FBT) and Financially Settled Ether (FET) futures to the Cboe Futures Exchange (CFE), consolidating all U.S. futures products onto one exchange, which is expected to enhance customer access and efficiency [1][8]. Group 1: Migration and Technology - The migration of FBT and FET futures to CFE occurred on June 9, 2025, allowing all of Cboe's U.S. futures products to trade on a single exchange powered by a unified technology platform [1][8]. - Cboe Titanium technology, which supports trading across all of Cboe's global markets, is designed to provide a seamless trading experience and handle nearly 24-hour trading [5][6]. Group 2: Product Offerings - The cash-settled FBT and FET futures were initially launched on Cboe Digital Exchange in January 2024 and are based on the Cboe Kaiko Rate Index [3][8]. - FBT and FET futures will be available for trading nearly 24 hours a day, Monday through Friday, providing extended trading hours for managing exposure to bitcoin and ether [6][8]. Group 3: Clearing and Market Position - FBT and FET futures will continue to be centrally cleared through Cboe Clear U.S., establishing a direct clearing relationship that enhances Cboe's global clearing capabilities [4][8]. - CFE has a history of innovation in volatility trading and aims to meet the diverse trading needs of various market participants with its expanded product suite [2][8].

Group 1 - The article discusses the author's long position in the shares of ALFVY and MGA, indicating a positive outlook on these companies [1] - It emphasizes the importance of conducting due diligence and research before making any investment decisions, particularly in high-risk trading styles [2] - The article clarifies that past performance does not guarantee future results, and no specific investment recommendations are provided [3] Group 2 - The author mentions ownership of European/Scandinavian tickers and Canadian stocks, highlighting a personal investment interest in these regions [2] - It notes the potential tax implications for investors in European/Non-US stocks, suggesting consultation with a tax professional [2] - The article indicates that the views expressed may not reflect those of Seeking Alpha as a whole, emphasizing the independent nature of the analysis [3]

Group 1 - The article expresses a beneficial long position in the shares of TYEKF, indicating a positive outlook on the company's stock performance [1] - The author emphasizes the importance of conducting due diligence and research before making any investment decisions, highlighting the risks associated with short-term trading and options trading [2] - The article clarifies that past performance is not indicative of future results, and no specific investment recommendations are provided [3]

Group 1 - The article expresses a beneficial long position in the shares of CAG, indicating a positive outlook on the company's stock performance [1] - The author emphasizes the importance of conducting due diligence and research before making any investment decisions, highlighting the risks associated with short-term trading and options trading [2] - It is noted that past performance does not guarantee future results, and the views expressed may not reflect those of the platform as a whole [3]