Report Industry Investment Rating - Not provided in the given content Core Viewpoints - The report presents the trading liquidity data of various market sectors on September 4, 2025, including trading volume, holding volume, trading - holding ratio, and their changes compared to the previous trading day [1][2] Summary by Directory 1. Plate Liquidity - Various charts are used to show the trading - holding ratio, trading volume change rate, holding volume, holding amount, trading volume, and trading amount of each plate [5] 2. Stock Index Plate - On September 4, 2025, the trading volume was 1162.502 billion yuan, with a +11.23% change compared to the previous trading day; the holding amount was 1378.315 billion yuan, with a +1.32% change; the trading - holding ratio was 83.01% [1] 3. Treasury Bond Plate - The trading volume was 411.039 billion yuan, with a - 3.73% change compared to the previous trading day; the holding amount was 707.072 billion yuan, with a +1.07% change; the trading - holding ratio was 58.81% [1] 4. Basic Metals and Precious Metals (Metal Plate) - The trading volume was 335.734 billion yuan for basic metals and 615.432 billion yuan for precious metals. The changes compared to the previous trading day were +0.29% and +21.98% respectively. The holding amounts were 505.788 billion yuan and 483.843 billion yuan, with changes of - 0.80% and - 0.11% respectively. The trading - holding ratios were 82.88% and 157.47% respectively [1] 5. Energy Chemical Plate - The trading volume was 482.815 billion yuan, with a +17.67% change compared to the previous trading day; the holding amount was 431.791 billion yuan, with a - 0.81% change; the trading - holding ratio was 83.46% [1] 6. Agricultural Products Plate - The trading volume was 318.503 billion yuan, with a +6.76% change compared to the previous trading day; the holding amount was 542.482 billion yuan, with a - 0.09% change; the trading - holding ratio was 53.90% [1] 7. Black Building Materials Plate - The trading volume was 255.315 billion yuan, with a +16.52% change compared to the previous trading day; the holding amount was 367.084 billion yuan, with a - 0.03% change; the trading - holding ratio was 63.88% [2]

Report Industry Investment Rating - Not provided in the given content Core Viewpoint - On September 3, 2025, the report presents the trading data of various market sectors including trading volume, holding amount, and trading - holding ratio, along with their changes compared to the previous trading day [1][2] Summary by Directory I. Plate Liquidity - Figures 1 - 6 show the trading - holding ratio, trading volume change rate, holding volume, holding amount, trading volume, and trading amount of each plate. The data sources are Flush and Huatai Futures Research Institute [4][8] II. Stock Index Plate - On September 3, 2025, the stock index plate had a trading volume of 1045.134 billion yuan, a 1.16% decrease from the previous trading day; the holding amount was 1360.355 billion yuan, a 3.78% decrease; the trading - holding ratio was 76.16%. Figures 7 - 12 show the price change rate, trading - holding ratio, change in settled funds, trend of settled funds, trading amount change, and the trend of the net holding ratio of the top 20 institutions of each variety in the stock index plate [1][4][13] III. Treasury Bond Plate - On September 3, 2025, the treasury bond plate had a trading volume of 426.963 billion yuan, a 30.96% increase from the previous trading day; the holding amount was 699.576 billion yuan, a 2.37% increase; the trading - holding ratio was 62.84%. Figures 13 - 18 show the price change rate, trading - holding ratio, change in settled funds, trend of settled funds, trading amount change, and the trend of the net holding ratio of the top 20 institutions of each variety in the treasury bond plate [1][4][18] IV. Base Metals and Precious Metals (Metal Plate) - On September 3, 2025, the base metal plate had a trading volume of 334.779 billion yuan, a 7.60% decrease from the previous trading day; the holding amount was 509.859 billion yuan, a 1.59% increase; the trading - holding ratio was 72.00%. The precious metal plate had a trading volume of 504.543 billion yuan, a 25.87% increase; the holding amount was 484.377 billion yuan, a 2.37% increase; the trading - holding ratio was 119.58%. Figures 19 - 24 show the price change rate, trading - holding ratio, change in settled funds, trend of settled funds, trading amount change rate, and the trend of the net holding ratio of the top 20 institutions of each variety in the metal plate [1][4][29] V. Energy and Chemical Plate - On September 3, 2025, the energy and chemical plate had a trading volume of 410.311 billion yuan, a 9.88% decrease from the previous trading day; the holding amount was 435.298 billion yuan, a 0.52% increase; the trading - holding ratio was 72.82%. Figures 25 - 30 show the price change rate, trading - holding ratio, change in settled funds, trend of settled funds, trading amount change rate, and the trend of the net holding ratio of the top 20 institutions of each main variety in the energy and chemical plate [1][4][41] VI. Agricultural Products Plate - On September 3, 2025, the agricultural products plate had a trading volume of 298.340 billion yuan, a 3.71% decrease from the previous trading day; the holding amount was 542.954 billion yuan, a 0.54% decrease; the trading - holding ratio was 50.40%. Figures 31 - 36 show the price change rate, trading - holding ratio, change in settled funds, trend of settled funds, trading amount change rate, and the trend of the net holding ratio of the top 20 institutions of each main variety in the agricultural products plate [1][4][50] VII. Black Building Materials Plate - On September 3, 2025, the black building materials plate had a trading volume of 219.117 billion yuan, a 3.33% decrease from the previous trading day; the holding amount was 367.196 billion yuan, a 1.37% increase; the trading - holding ratio was 54.22%. Figures 37 - 42 show the price change rate, trading - holding ratio, change in settled funds, trend of settled funds, trading amount change rate, and the trend of the net holding ratio of the top 20 institutions of each variety in the black building materials plate [2][4][59]

Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Core Viewpoints of the Report - The report provides a detailed overview of the market liquidity situation on August 29, 2025, including trading volume, holding amount, and trading - holding ratio of various sectors such as stock index, treasury bond, basic metal, precious metal, energy chemical, agricultural product, and black building material sectors [1][2] Group 3: Summaries by Directory 1. Plate Liquidity - Data sources for various plate - related charts are from Flush and Huatai Futures Research Institute [7][8] 2. Stock Index Plate - On August 29, 2025, the trading volume was 1052.647 billion yuan, a - 8.48% change from the previous trading day; the holding amount was 1395.568 billion yuan, a - 1.15% change; the trading - holding ratio was 75.05% [1] 3. Treasury Bond Plate - On August 29, 2025, the trading volume was 404.607 billion yuan, a - 25.10% change from the previous trading day; the holding amount was 679.998 billion yuan, a + 2.09% change; the trading - holding ratio was 60.04% [1] 4. Basic Metal and Precious Metal (Metal Plate) - On August 29, 2025, the basic metal trading volume was 355.938 billion yuan, a - 3.42% change from the previous trading day; the holding amount was 500.382 billion yuan, a + 1.87% change; the trading - holding ratio was 79.71%. The precious metal trading volume was 245.581 billion yuan, a + 5.71% change; the holding amount was 415.906 billion yuan, a + 0.60% change; the trading - holding ratio was 66.91% [1] 5. Energy Chemical Plate - On August 29, 2025, the trading volume was 421.807 billion yuan, a - 3.30% change from the previous trading day; the holding amount was 418.207 billion yuan, a - 0.72% change; the trading - holding ratio was 81.23% [1] 6. Agricultural Product Plate - On August 29, 2025, the trading volume was 335.139 billion yuan, a - 5.08% change from the previous trading day; the holding amount was 555.212 billion yuan, a - 1.55% change; the trading - holding ratio was 53.41% [1] 7. Black Building Material Plate - On August 29, 2025, the trading volume was 304.551 billion yuan, a - 1.69% change from the previous trading day; the holding amount was 370.771 billion yuan, a - 0.28% change; the trading - holding ratio was 78.95% [2]

Group 1 - The core viewpoint of the article indicates that the futures market for base metals on the Shanghai Futures Exchange experienced a decline across all categories during the night session on August 14 [1][2] Group 2 - Specific declines in metal prices include: alumina down by 1.57%, lead down by 0.89%, aluminum down by 0.67%, zinc down by 0.57%, nickel down by 0.56%, stainless steel down by 0.53%, tin down by 0.50%, and copper down by 0.29% [1]

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core View The report presents the market liquidity overview of various sectors on July 31, 2025, including trading volume, holding amount, and trading - holding ratio, along with their changes compared to the previous trading day [1][2]. 3. Summary by Directory I. Plate Liquidity - The report shows multiple figures related to plate liquidity, such as the trading - holding ratio, trading volume change rate, holding volume, holding amount, trading volume, and trading amount of each plate, with data sources from Flush and Huatai Futures Research Institute [4][8] II. Stock Index Plate - On July 31, 2025, the stock index plate had a trading volume of 751.635 billion yuan, a +12.67% change from the previous trading day; the holding amount was 1138.644 billion yuan, a -2.24% change; the trading - holding ratio was 65.46%. There are also figures showing the rise - fall rate, trading - holding ratio, precipitation fund change, precipitation fund trend, trading amount change, and the top 20 net holding ratio trend of each variety in the stock index plate [1][5] III. Treasury Bond Plate - The trading volume of the treasury bond plate was 411.459 billion yuan, a -20.52% change; the holding amount was 867.472 billion yuan, a -1.07% change; the trading - holding ratio was 48.36%. Figures display the rise - fall rate, trading - holding ratio, precipitation fund change, precipitation fund trend, trading amount change, and the top 20 net holding ratio trend of each variety in the treasury bond plate [1][5] IV. Basic Metals and Precious Metals (Metal Plate) - The basic metals plate had a trading volume of 603.644 billion yuan, a +4.67% change; the holding amount was 491.372 billion yuan, a -5.10% change; the trading - holding ratio was 143.13%. The precious metals plate had a trading volume of 439.339 billion yuan, a +40.27% change; the holding amount was 440.018 billion yuan, a -0.95% change; the trading - holding ratio was 140.02%. Figures show the rise - fall rate, trading - holding ratio, precipitation fund change, precipitation fund trend, trading amount change rate, and the top 20 net holding ratio trend of each variety in the metal plate [1][5] V. Energy and Chemical Plate - The trading volume of the energy and chemical plate was 510.154 billion yuan, a -14.65% change; the holding amount was 419.437 billion yuan, a -2.55% change; the trading - holding ratio was 110.68%. Figures present the rise - fall rate, trading - holding ratio, precipitation fund change, precipitation fund trend, trading amount change rate, and the top 20 net holding ratio trend of the main varieties in the energy and chemical plate [1][5] VI. Agricultural Products Plate - The trading volume of the agricultural products plate was 323.950 billion yuan, a -3.95% change; the holding amount was 568.175 billion yuan, a -1.57% change; the trading - holding ratio was 52.80%. Figures show the rise - fall rate, trading - holding ratio, precipitation fund change, precipitation fund trend, trading amount change rate, and the top 20 net holding ratio trend of the main varieties in the agricultural products plate [1][5] VII. Black Building Materials Plate - The trading volume of the black building materials plate was 546.968 billion yuan, a -28.62% change; the holding amount was 378.365 billion yuan, a -6.52% change; the trading - holding ratio was 144.74%. Figures display the rise - fall rate, trading - holding ratio, precipitation fund change, precipitation fund trend, trading amount change rate, and the top 20 net holding ratio trend of each variety in the black building materials plate [2][5]

Group 1: Report Core Information Report Industry Investment Rating - Not available Report's Core View - The report presents the market liquidity situation of various sectors on July 29, 2025, including trading volume, holding amount, trading - holding ratio, and their changes compared to the previous trading day [1][2] Summary According to the Directory 1. Plate Liquidity - The report provides figures on the trading - holding ratio, trading volume change rate, holding amount, and trading volume of each sector, with data sourced from Flush and Huatai Futures Research Institute [1][2][8] 2. Stock Index Plate - On July 29, 2025, the trading volume of the stock index plate was 516.437 billion yuan, a +1.60% change from the previous trading day; the holding amount was 1114.401 billion yuan, a -1.66% change; the trading - holding ratio was 46.26% [1] 3. Treasury Bond Plate - The trading volume of the treasury bond plate was 447.828 billion yuan, a +1.57% change from the previous trading day; the holding amount was 884.54 billion yuan, a -0.13% change; the trading - holding ratio was 51.07% [1] 4. Basic Metal and Precious Metal (Metal Plate) - The basic metal plate had a trading volume of 509.297 billion yuan, a -25.69% change from the previous trading day; the holding amount was 498.898 billion yuan, a -1.77% change; the trading - holding ratio was 132.69%. The precious metal plate had a trading volume of 313.997 billion yuan, a -33.49% change; the holding amount was 441.909 billion yuan, a -0.48% change; the trading - holding ratio was 80.00% [1] 5. Energy and Chemical Plate - The trading volume of the energy and chemical plate was 530.505 billion yuan, a -32.14% change from the previous trading day; the holding amount was 422.522 billion yuan, a -1.02% change; the trading - holding ratio was 109.79% [1] 6. Agricultural Product Plate - The trading volume of the agricultural product plate was 357.736 billion yuan, a -14.15% change from the previous trading day; the holding amount was 575.184 billion yuan, a -0.88% change; the trading - holding ratio was 55.48% [1] 7. Black Building Materials Plate - The trading volume of the black building materials plate was 585.449 billion yuan, a -33.29% change from the previous trading day; the holding amount was 394.971 billion yuan, a +2.84% change; the trading - holding ratio was 151.20% [2]

Core Viewpoint - The LME base metals are under pressure, with a stalemate among supply, demand, and policy factors, raising questions about which will break the deadlock and provide a clear direction for copper prices [1] Group 1: Supply Factors - Current supply dynamics are contributing to the pressure on base metal prices, indicating a potential imbalance in the market [1] Group 2: Demand Factors - Demand for base metals remains uncertain, which is complicating the pricing outlook and contributing to the overall market tension [1] Group 3: Policy Factors - Policy interventions are playing a significant role in shaping the market environment for base metals, adding another layer of complexity to the pricing situation [1]

1. Report Industry Investment Rating - Not provided in the content 2. Core View of the Report - The report presents the market liquidity situation on July 24, 2025, including the trading volume, holding amount, trading - holding ratio, and their changes compared with the previous trading day for various sectors such as the stock index, treasury bonds, basic metals, precious metals, energy and chemical, agricultural products, and black building materials [1][2] 3. Summary by Relevant Catalog I. Plate Liquidity - There are figures showing the trading - holding ratio, trading volume change rate, holding amount, and other data of each plate [5][8] II. Stock Index Plate - On July 24, 2025, the stock index plate had a trading volume of 572.714 billion yuan, a 7.90% decrease from the previous trading day; the holding amount was 1149.608 billion yuan, a 1.65% increase; the trading - holding ratio was 49.83% [1] III. Treasury Bond Plate - On July 24, 2025, the treasury bond plate had a trading volume of 527.757 billion yuan, a 2.36% decrease from the previous trading day; the holding amount was 908.774 billion yuan, a 0.69% increase; the trading - holding ratio was 58.15% [1] IV. Basic Metals and Precious Metals (Metal Plate) - Basic metals: On July 24, 2025, the trading volume was 790.139 billion yuan, a 3.20% decrease from the previous trading day; the holding amount was 537.2 billion yuan, a 3.13% increase; the trading - holding ratio was 191.19% [1] - Precious metals: On July 24, 2025, the trading volume was 569.421 billion yuan, a 17.45% increase from the previous trading day; the holding amount was 469.493 billion yuan, a 4.46% decrease; the trading - holding ratio was 146.66% [1] V. Energy and Chemical Plate - On July 24, 2025, the energy and chemical plate had a trading volume of 719.87 billion yuan, a 4.22% increase from the previous trading day; the holding amount was 431.49 billion yuan, a 0.37% increase; the trading - holding ratio was 157.51% [1] VI. Agricultural Products Plate - On July 24, 2025, the agricultural products plate had a trading volume of 397.076 billion yuan, a 1.34% increase from the previous trading day; the holding amount was 589.056 billion yuan, a 0.77% decrease; the trading - holding ratio was 63.82% [1] VII. Black Building Materials Plate - On July 24, 2025, the black building materials plate had a trading volume of 660.066 billion yuan, a 4.44% increase from the previous trading day; the holding amount was 393.851 billion yuan, a 1.87% increase; the trading - holding ratio was 160.90% [2]

1. Report Industry Investment Rating There is no information provided in the report regarding the industry investment rating. 2. Core View The report presents the market liquidity situation on July 21, 2025, including the trading volume, holding amount, trading - holding ratio, and their changes compared to the previous trading day for various sectors such as the stock index, treasury bond, basic metal, precious metal, energy chemical, agricultural product, and black building material sectors [1][2]. 3. Summary by Directory I. Plate Liquidity - Various charts are used to display the trading - holding ratio, trading volume change rate, holding amount, trading volume, and trading amount of each sector [5][8] II. Stock Index Plate - On July 21, 2025, the trading volume of the stock index plate was 486.346 billion yuan, a change of - 10.60% from the previous trading day; the holding amount was 1071.902 billion yuan, a change of + 3.13% from the previous trading day; the trading - holding ratio was 45.24% [1] - Multiple charts show the price change, trading - holding ratio, and precipitation fund change of each variety in the stock index plate [5] III. Treasury Bond Plate - On July 21, 2025, the trading volume of the treasury bond plate was 412.89 billion yuan, a change of + 60.25% from the previous trading day; the holding amount was 913.311 billion yuan, a change of + 0.69% from the previous trading day; the trading - holding ratio was 46.91% [1] - Multiple charts show the price change, trading - holding ratio, and precipitation fund change of each variety in the treasury bond plate [5] IV. Basic Metal and Precious Metal (Metal Plate) - On July 21, 2025, the trading volume of the basic metal plate was 634.191 billion yuan, a change of + 1.20% from the previous trading day; the holding amount was 512.895 billion yuan, a change of + 5.44% from the previous trading day; the trading - holding ratio was 165.53% - The trading volume of the precious metal plate was 348.508 billion yuan, a change of - 4.14% from the previous trading day; the holding amount was 466.834 billion yuan, a change of + 1.96% from the previous trading day; the trading - holding ratio was 82.63% [1] - Multiple charts show the price change, trading - holding ratio, and precipitation fund change of each variety in the metal plate [5] V. Energy Chemical Plate - On July 21, 2025, the trading volume of the energy chemical plate was 707.461 billion yuan, a change of + 27.22% from the previous trading day; the holding amount was 438.931 billion yuan, a change of - 2.08% from the previous trading day; the trading - holding ratio was 142.54% [1] - Multiple charts show the price change, trading - holding ratio, and precipitation fund change of each main variety in the energy chemical plate [5] VI. Agricultural Product Plate - On July 21, 2025, the trading volume of the agricultural product plate was 339.628 billion yuan, a change of - 3.02% from the previous trading day; the holding amount was 593.033 billion yuan, a change of - 1.08% from the previous trading day; the trading - holding ratio was 49.04% [1] - Multiple charts show the price change, trading - holding ratio, and precipitation fund change of each main variety in the agricultural product plate [5] VII. Black Building Material Plate - On July 21, 2025, the trading volume of the black building material plate was 488.107 billion yuan, a change of + 47.14% from the previous trading day; the holding amount was 392.289 billion yuan, a change of + 1.19% from the previous trading day; the trading - holding ratio was 133.43% [2] - Multiple charts show the price change, trading - holding ratio, and precipitation fund change of each variety in the black building material plate [5]

1. Report Industry Investment Rating No relevant content provided. 2. Core View of the Report The report presents the market liquidity situation on July 4, 2025, including the trading volume, holding amount, trading - holding ratio, and their changes compared with the previous trading day for different sectors such as stock index, treasury bond, basic metal, precious metal, energy - chemical, agricultural product, and black building materials [1][2]. 3. Summary by Relevant Catalogs I. Plate Liquidity The report provides data on trading volume, holding amount, trading - holding ratio, and their changes compared with the previous trading day for multiple sectors, including stock index, treasury bond, basic metal, precious metal, energy - chemical, agricultural product, and black building materials [1][2]. II. Stock Index Plate On July 4, 2025, the trading volume of the stock index plate was 625.937 billion yuan, a +60.52% change from the previous trading day; the holding amount was 1095.323 billion yuan, a +9.99% change; and the trading - holding ratio was 56.94% [1]. III. Treasury Bond Plate On July 4, 2025, the trading volume of the treasury bond plate was 268.997 billion yuan, a - 6.49% change from the previous trading day; the holding amount was 927.353 billion yuan, a +2.56% change; and the trading - holding ratio was 29.61% [1]. IV. Basic Metal and Precious Metal (Metal Plate) On July 4, 2025, the trading volume of the basic metal plate was 349.009 billion yuan, a +3.46% change from the previous trading day; the holding amount was 507.371 billion yuan, a - 1.34% change; and the trading - holding ratio was 89.73%. The trading volume of the precious metal plate was 343.446 billion yuan, a +3.64% change; the holding amount was 440.884 billion yuan, a - 1.21% change; and the trading - holding ratio was 86.21% [1]. V. Energy - Chemical Plate On July 4, 2025, the trading volume of the energy - chemical plate was 477.24 billion yuan, a - 0.06% change from the previous trading day; the holding amount was 433.448 billion yuan, a +0.42% change; and the trading - holding ratio was 91.84% [1]. VI. Agricultural Product Plate On July 4, 2025, the trading volume of the agricultural product plate was 266.379 billion yuan, a - 3.06% change from the previous trading day; the holding amount was 559.453 billion yuan, a - 0.42% change; and the trading - holding ratio was 42.05% [1]. VII. Black Building Materials Plate On July 4, 2025, the trading volume of the black building materials plate was 254.961 billion yuan, a - 10.57% change from the previous trading day; the holding amount was 364.163 billion yuan, a +0.84% change; and the trading - holding ratio was 72.29% [2].