1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints of the Report - Despite the IEA's decision to release 400 million barrels of oil from strategic reserves and the U.S. granting a 30 - day permission to countries unable to bring back Russian oil, the core market contradictions remain unresolved. The ongoing Israel - Iran - U.S. war and the control of the Strait of Hormuz by Iran have significantly tightened Middle East oil supply, providing support for oil prices. Oil prices rose this week, and investors should look for low - level long - position operation opportunities while keeping an eye on the war situation and controlling risks [2]. - Measures like Saudi Arabia redirecting some crude oil exports through pipelines to Red Sea ports and the IEA's oil release cannot solve the key supply bottleneck of restricted passage through the Strait of Hormuz. The demands of Iran and Israel are difficult to meet, and with no sign of war alleviation, a low - level long - position strategy should be maintained, with attention on the war's development [2]. 3. Summary by Relevant Catalogs Market Review and Outlook - The IEA decided to release 400 million barrels of oil, and the U.S. gave a 30 - day permission. A total of 500 million barrels will be put into the market. The market core contradiction remains unsolved, and due to the war and supply tightening, oil prices rose this week. Low - level long - position operations are recommended while watching the war and controlling risks [2]. Factors to Watch - Geopolitical factors and weekly crude oil data should be monitored [3]. Weekly Changes in Fundamental Data | Indicator | Unit | Latest Week | Previous Period | Weekly Change | Weekly Change Rate | Frequency | | --- | --- | --- | --- | --- | --- | --- | | SC Crude Oil Futures | Yuan/barrel | 750.80 | 664.80 | 181.20 | 37.47% | Daily | | Oman Crude Oil Spot | US dollars/barrel | 145.89 | 100.45 | 29.09 | 40.77% | Daily | | Brent Crude Oil Futures | US dollars/barrel | 103.89 | 84.31 | 11.78 | 16.24% | Daily | | WTI Crude Oil Futures | US dollars/barrel | 99.35 | 78.88 | 11.65 | 17.33% | Daily | | U.S. Crude Oil Production | Thousand barrels/day | 13678 | 13696 | - 6 | - 0.04% | Weekly | | U.S. Crude Oil Inventory | Thousand barrels | 443103 | 439279 | 3475 | 0.80% | Weekly | | Comprehensive Refinery Profit | Yuan/ton | 1935.81 | 993.81 | 245 | 32.68% | Weekly | [4]

Report Overview - The report is a daily analysis of core futures varieties, released on March 9, 2026 [3] Market Performance Futures Market Summary - As of the close on March 9, most domestic futures main contracts rose. Contracts such as container shipping to Europe, SC crude oil, etc., hit the daily limit. Methanol rose over 11%, palm oil rose over 6%, and caustic soda and coking coal rose over 5%. In terms of declines, Shanghai tin and palladium fell over 2%. Stock index futures and treasury bond futures also showed varying degrees of decline [5][6] Capital Flows - As of 15:19 on March 9, funds flowed into contracts such as CSI 1000 2603 (5.594 billion), CSI 300 2603 (2.496 billion), and CSI 500 2603 (2.195 billion). Funds flowed out of contracts such as Shanghai gold 2604 (1.324 billion), coking coal 2605 (945 million), and 10 - year treasury bond 2606 (755 million) [6] Market Analysis Copper - The Shanghai copper market opened low and weakened during the day. It is expected that the production in March will increase by 52,800 tons month - on - month and 6.51% year - on - year, possibly reaching a record high. The recycled copper market is tight, and smelting is difficult. Downstream demand is increasing, but inventory is still accumulating. The copper price is affected by macro and financial factors and is expected to be weak in the short term [8] Lithium Carbonate - Lithium carbonate opened low and closed higher, showing a volatile and strong trend. The average price of battery - grade and industrial - grade lithium carbonate decreased. The开工 rate dropped, and the production in February decreased significantly. The inventory is being depleted, but the rate is narrowing. The terminal demand is affected by the Middle East conflict. The market is expected to continue wide - range fluctuations [10] Crude Oil - OPEC+ agreed to increase oil production by 206,000 barrels per day in April. EIA data shows that US crude oil inventory increased more than expected. The Middle East situation is tense, with the Iran - Israel conflict and the blockage of the Strait of Hormuz. The price of crude oil is expected to be strong and volatile, and attention should be paid to the Middle East situation [11][12] Asphalt - The asphalt supply side: the开工 rate increased slightly last week, and the expected production in March increased. The downstream demand is gradually recovering. The price is expected to rise with the crude oil price, and attention should be paid to the shortage of domestic refinery raw materials [13][15] PP - The downstream开工 rate of PP increased, and the enterprise开工 rate decreased. The inventory is at a neutral level. The cost is affected by the Middle East situation, and the supply - demand pattern has improved. It is expected to be strong and volatile, and attention should be paid to the downstream resumption of production and the Middle East situation [16] Plastic - The plastic开工 rate is at a neutral - high level. The downstream开工 rate increased, and the inventory is at a neutral level. The cost is affected by the Middle East situation, and new production capacity has been put into operation. It is expected to be strong and volatile, and attention should be paid to the downstream resumption of production and the Middle East situation [17][18] PVC - The upstream calcium carbide price increased. The PVC开工 rate decreased slightly, and the downstream开工 rate increased. The export situation improved, but the inventory is still high. The price is expected to be strong and volatile due to policy and cost factors [19] Coking Coal - Coking coal opened high and hit the daily limit, then opened the limit in the afternoon. The mine开工 rate increased, but the downstream demand is weak. The price is affected by the geopolitical situation, and the follow - up trend depends on the duration of the conflict [21] Urea - Urea opened with a daily limit and then fell back. The spot market is affected by the Middle East conflict. The supply is relatively sufficient, and the demand is in the peak season. The price is expected to be stable after the market sentiment calms down [22]

Market Overview - The A-share market experienced a significant downturn, with the Shanghai Composite Index down 1.13%, the Shenzhen Component Index down 2.14%, and the ChiNext Index down 2.42% as of midday trading [3][5]. - The total trading volume in the Shanghai and Shenzhen markets reached 1.79 trillion yuan, an increase of 403.1 billion yuan compared to the previous trading day, with over 4,500 stocks declining [5]. Sector Performance - The computing hardware industry chain saw a broad pullback, with sectors such as CPO and high-speed copper connections leading the decline. Notably, semiconductor, humanoid robotics, commercial aerospace, and consumer electronics themes also experienced significant drops [4][12]. - Conversely, the oil, coal, and electricity sectors showed strength, with stocks in these areas performing well. The photovoltaic and artificial intelligence concept stocks were notably active [4]. Notable Stock Movements - The electric grid equipment sector saw a surge, with companies like Guodian Nanzi and Sanbian Technology hitting their daily limit up and reaching historical highs. Other companies such as Pino Technology also touched the daily limit up [6]. - In the energy sector, WTI crude oil futures surged over 30%, reaching $118.7 per barrel, marking a 75% increase for the month, the highest since June 2022 [8][19]. International Market Impact - The KOSPI index in South Korea experienced a significant drop of 7%, heavily influenced by declines in major storage companies like Samsung Electronics and SK Hynix, which both opened down over 7% [13][20]. - The Hang Seng Index opened down 2.65%, with technology stocks facing widespread declines, while oil stocks saw substantial gains [14][15].

1. Report Industry Investment Rating - No information provided regarding the industry investment rating. 2. Report Core View - As of the close on March 4, 2026, domestic futures contracts showed mixed performance. Shipping routes to Europe, SC crude oil, and fuel oil hit the daily limit for the third consecutive day. Low-sulfur fuel oil (LU) rose nearly 11%, while liquefied petroleum gas (LPG) and polypropylene (PP) rose over 5%. On the other hand, tin futures fell over 5%, and polysilicon, platinum, silver, and gold futures also declined significantly. The prices and trends of various futures contracts were affected by multiple factors, including geopolitical conflicts, supply and demand changes, and seasonal factors [5][6]. 3. Summary by Relevant Catalogs 3.1 Commodity Performance - **Gainers**: Shipping routes to Europe, SC crude oil, and fuel oil hit the daily limit for three consecutive days. Low-sulfur fuel oil (LU) rose nearly 11%, liquefied petroleum gas (LPG) and polypropylene (PP) rose over 5%, and plastics and propylene rose nearly 4% [5]. - **Losers**: Tin futures fell over 5%, and polysilicon, platinum, silver, and gold futures fell over 4%, 4%, 4%, and 3% respectively. Stock index futures, including IF, IH, IC, and IM, also declined, while most treasury bond futures rose, except for the 30-year treasury bond futures [5][6]. - **Fund Flows**: As of 15:19 on March 4, funds flowed into aluminum, fuel oil, and 10-year treasury bond futures, while large amounts of funds flowed out of gold, CSI, and CSI 1000 futures [6]. 3.2 Market Analysis 3.2.1 Copper - Copper prices opened low and rose slightly but remained weak. Geopolitical conflicts in the Middle East increased inflation expectations and reduced the likelihood of the Fed's interest rate cuts, putting pressure on non-ferrous metals. In February, China's electrolytic copper production decreased month-on-month but increased year-on-year. It is expected to reach a record high in March. Due to the shortage of copper concentrates, the demand for scrap copper is expected to rise, and the supply gap may be filled by overseas imports. High copper prices have led to strong resistance from downstream consumers, and the demand for copper products is expected to remain weak [8]. 3.2.2 Lithium Carbonate - Lithium carbonate prices opened and closed lower. The average price of battery-grade and industrial-grade lithium carbonate decreased. Production is expected to decline in February due to seasonal and holiday factors. The overall inventory has decreased, and the fundamentals are short-term tight. The conflict between the United States and Iran has affected the delivery of energy storage batteries in the Middle East, and the export of terminals has been impacted. Although the peak season is approaching, the increase in demand is limited, and the price has some support [10]. 3.2.3 Crude Oil - OPEC+ agreed to increase oil production by 206,000 barrels per day in April, and further production increase plans are to be determined. EIA data showed a significant build-up of crude oil inventories in the United States. Geopolitical conflicts in the Middle East, especially the situation in Iran and the blockade of the Strait of Hormuz, have led to disruptions in oil transportation and production. Iraq has cut production, and Qatar has stopped LNG production. Trump's offer to provide insurance and escort for oil tankers has caused oil prices to fluctuate. It is expected that oil prices will remain strong in the near term, and the situation in the Middle East will have a significant impact on oil price volatility [11][12]. 3.2.4 Asphalt - The asphalt production rate decreased slightly last week and is at a low level compared to previous years. In March, domestic asphalt production is expected to increase month-on-month but decrease year-on-year. After the Spring Festival, downstream industries are gradually resuming work, but the overall demand remains weak. The inventory of asphalt refineries is at a low level, but the market is worried about a shortage of raw materials in March due to geopolitical factors. It is expected that asphalt prices will follow the increase in crude oil prices [13][15]. 3.2.5 PP - The downstream开工率 of PP decreased seasonally, and the enterprise开工率 remained at a relatively low level. The proportion of standard-grade wire production increased. After the Spring Festival, the inventory of petrochemical enterprises has been decreasing and is currently at a neutral level. The increase in crude oil prices has boosted the price of PP. Although the domestic supply and demand situation has improved slightly, the market expects a rebound in the chemical industry. It is expected that PP prices will remain strong, and attention should be paid to the progress of downstream resumption [16]. 3.2.6 Plastic - The开工率 of plastic increased after the restart of some maintenance devices and is currently at a neutral to high level. The downstream开工率 of PE decreased seasonally, and the inventory of petrochemical enterprises has been decreasing and is at a neutral level. The increase in crude oil prices has had a positive impact on the price of plastic. Although the domestic supply and demand situation has improved slightly, the market expects a rebound in the chemical industry. The import of PE from Iran accounts for a small proportion of the total, but the import from the Middle East accounts for a relatively large proportion. It is expected that plastic prices will remain strong, and attention should be paid to the progress of downstream resumption [17][18]. 3.2.7 PVC - The price of calcium carbide in the northwest region continued to decline. The开工率 of PVC increased and is at a neutral to high level. After the Spring Festival, the downstream开工率 of PVC increased but is still lower than the same period last year. The export of PVC is expected to be low in March due to the cancellation of export tax rebates and the anti-subsidy investigation by India. The social inventory of PVC is still high, and the real estate market continues to adjust. Although the PVC market has a weak reality, it has strong expectations due to policy and maintenance expectations. It is expected that PVC prices will remain strong, and attention should be paid to the progress of downstream resumption [19]. 3.2.8 Coking Coal - Coking coal prices opened high and closed low. Domestic mines are gradually resuming work, and the inventory of coking coal mines has increased. The inventory of independent coking enterprises and steel mills has decreased. After the Spring Festival, the production of molten iron in steel mills has increased slightly, but the reduction of emissions during the Two Sessions may affect short-term production. The real estate market has introduced some stimulus policies, but the performance of the terminal market still needs to be observed. After the impact of geopolitical conflicts in Iran on the coal market is realized, the price is expected to return to the fundamentals of loose supply and demand and will be under pressure if the macro sentiment remains stable [20][21]. 3.2.9 Urea - Urea prices opened high, fluctuated, and closed slightly higher. The trading volume decreased, and the price was relatively stable. The daily production of urea has reached around 220,000 tons, and there are no long-term shutdown and maintenance plans in the short term. After the Lantern Festival, compound fertilizer factories have resumed work, but the开工 rate in Hebei has been affected by environmental protection. The inventory of urea has started to decrease due to the continuation of agricultural demand and the increase in industrial demand. Although the international urea price is affected by the situation in the Middle East, it has little impact on the domestic market. The price of urea is expected to be range-bound, and attention should be paid to the possibility of a price increase driven by the energy and chemical sector [22].

Market Overview - The A-share market experienced a significant decline, with the Shanghai Composite Index dropping 1.43% to fall below 4100 points, while the Shenzhen Component Index and the ChiNext Index also saw declines of 0.98% and 1.64% respectively [3][10] - The total trading volume in the Shanghai and Shenzhen markets reached 1.64 trillion yuan, a decrease of 377 billion yuan compared to the previous trading day, with over 4000 stocks declining [6] Sector Performance - Various sectors such as oil and gas, shipping, gas, chemicals, insurance, precious metals, brokerage, and coal experienced pullbacks, while sectors like ultra-high voltage, memory storage, anti-dumping, and military industry stocks showed resilience [5][11] - The oil and gas sector exhibited significant volatility, with companies like China Petroleum hitting the daily limit down, while others like Intercontinental Oil and Petrochemical Oilfield Services saw gains [9][12] International Market Impact - The South Korean KOSPI index continued its downward trend, plummeting 10% after resuming trading, with major companies like Samsung Electronics and SK Hynix experiencing declines of over 10% and 8% respectively [7] - The Thai stock index fell by 5.3%, marking its largest drop since April 8 [8] Commodity Movements - Gold stocks opened significantly lower, with companies like Xiaocheng Technology and Sichuan Gold dropping over 10%, while the spot gold price briefly fell below $5000 [9] - In the futures market, domestic contracts for various commodities showed mixed results, with SC crude oil and fuel oil reaching their daily limits, while Shanghai tin and silver saw declines exceeding 5% [16]

Report Industry Investment Rating - Not provided Core Viewpoint - The core logic of the crude oil market revolves around the supply hard gap caused by the transportation bottleneck triggered by the geopolitical situation. Geopolitical risks will continuously support crude oil prices until the military confrontation between the US, Israel and Iran ends and the Strait of Hormuz resumes normal navigation [7]. Summary by Relevant Catalogs Oil Price Surge and Geopolitical Trigger - On Monday, oil futures opened higher. The Brent crude oil price soared nearly 13% to $82 per barrel and then had an 8% increase. The domestic SC crude oil futures closed at the daily limit. The direct cause was the military conflict between the US, Israel and Iran over the weekend after the Israel - Iran conflict in June 2025 [3]. Impact of Strait of Hormuz Closure - Iran's announcement to ban ships from passing through the Strait of Hormuz has led to a sharp rise in market panic about the interruption of crude oil supply from Middle - Eastern oil - producing countries. The Strait of Hormuz, which accounts for over a quarter of the world's seaborne oil trade, has seen shipping come to a halt, with about 2000000 barrels per day of crude oil and condensate passing through it in 2025 [4]. Supply Dilemma - Iran has rich oil and gas resources. In 2025, its crude oil production was about 3300000 barrels per day, accounting for 3% of global supply, and exports were 1500000 - 1800000 barrels per day, accounting for 1.4% - 1.6%. Although Iran's export share is not high, its ability to block the Strait of Hormuz is crucial. OPEC +'s planned production increase and OPEC's idle capacity are ineffective due to the blocked transportation channels [5]. Future Oil Price Trends - If the Strait of Hormuz is only "temporarily interrupted" (a few days to a week), the Brent oil price will fluctuate in the range of $76 - $82 per barrel. If the blockade is extended, the market logic will shift from "actual interruption" to "deteriorating expectations", and the Brent oil price may break through $90 per barrel or higher [7].

Report Overview - Report Title: Daily Core Futures Variety Analysis - Release Date: March 2, 2026 - Data Sources: Wind, Guantong Research and Consulting Department, etc. 1. Market Performance 1.1 Futures Market Overview - As of the close on March 2, most domestic futures main contracts were up. Contracts such as container shipping to Europe, fuel oil, low-sulfur fuel oil (LU), SC crude oil, etc. hit the daily limit. Shanghai silver rose over 9%, and some other contracts like p-xylene (PX), PTA, and synthetic rubber rose over 6%. In terms of declines, polysilicon fell over 2% and live pigs fell nearly 2% [7]. - Among stock index futures, the main contract of CSI 300 Index Futures (IF) rose 0.07%, the main contract of SSE 50 Index Futures (IH) rose 0.06%, the main contract of CSI 500 Index Futures (IC) fell 0.07%, and the main contract of CSI 1000 Index Futures (IM) fell 1.15%. Among treasury bond futures, the main contracts of 2-year (TS), 5-year (TF), 10-year (T), and 30-year (TL) all rose [8]. 1.2 Fund Flows - As of 15:27 on March 2, funds flowed into contracts such as Shanghai gold 2604 (4.837 billion yuan), CSI 2603 (1.563 billion yuan), and Shanghai silver 2604 (1.539 billion yuan). Funds flowed out of contracts such as Shanghai tin 2604 (871 million yuan), lithium carbonate 2605 (626 million yuan), and cotton 2605 (563 million yuan) [8]. 2. Market Analysis of Specific Varieties 2.1 Shanghai Copper - Shanghai copper opened high and closed low, rising during the day. Affected by the Iran-US conflict, the Strait of Hormuz is blocked. In February, China's electrolytic copper production decreased by 3.69 tons MoM (3.13%), and is expected to increase by 5.28 tons in March. The demand for scrap copper is expected to increase, and the supply gap may be filled by overseas imports. The downstream is resistant to high copper prices, and the copper product sector is under pressure. Overall, the copper market is in a state of oversupply. In the short term, copper prices may be under pressure and fluctuate, and are expected to be strong in the long term [10][11]. 2.2 Lithium Carbonate - Lithium carbonate opened high and closed low, falling during the day. The average price of battery-grade lithium carbonate is 172,500 yuan/ton, and that of industrial-grade is 169,000 yuan/ton. Due to seasonal and holiday factors, the supply of lithium carbonate raw materials decreased in February. The downstream battery production is still at a relatively high level, and the inventory has decreased. The new 15% tariff and the "rush to export" expectation support the price. However, the short-term impact of geopolitical conflicts is limited, and the price may fluctuate [12]. 2.3 Crude Oil - OPEC+ agreed to increase oil production by 206,000 barrels per day in April. The EIA data shows a large increase in US crude oil inventory. Affected by the Iran-US conflict, Iran's oil production and exports are affected, and the Strait of Hormuz is blocked. It is expected that the crude oil price will fluctuate strongly in the near term, and the situation in the Middle East will have a great impact on the price [13][14]. 2.4 Asphalt - The asphalt supply is weak, with the operating rate at a low level. In March, the domestic asphalt production is expected to increase by 13.0% MoM. The downstream demand is gradually recovering, but the overall supply and demand are still weak. The price is expected to follow the rise of crude oil prices, and the arbitrage strategy is mainly reverse arbitrage [15][17]. 2.5 PP - As of February 27, the downstream operating rate of PP decreased seasonally. The PP enterprise operating rate is at a neutral-low level, and the petrochemical inventory is at a neutral level. The rise in crude oil prices has a significant impact on PP. It is expected that PP will fluctuate strongly, and attention should be paid to the resumption of downstream production [18]. 2.6 Plastic - The plastic operating rate is at a neutral-high level, and the downstream operating rate decreased seasonally. The petrochemical inventory is at a neutral level. The new production capacity has been put into operation, and the supply is sufficient. It is expected that the plastic price will fluctuate strongly, and attention should be paid to the resumption of downstream production [19][20]. 2.7 PVC - The PVC operating rate increased, and the downstream operating rate is gradually recovering. The export is expected to decline, and the social inventory is still high. The PVC price is under pressure in the short term, but is expected to be strong in the long term due to policy and maintenance expectations [21]. 2.8 Coking Coal - Coking coal opened high and closed low, rebounding slightly during the day. The supply of imported coal is gradually recovering, and the domestic mine production is increasing. The inventory of coking coal mines has increased, and the inventory of independent coking enterprises and steel mills has decreased. The price is affected by geopolitical conflicts and policy expectations [23]. 2.9 Urea - Urea opened high and closed low, falling during the day. The spot price has risen. The supply is high, the inventory is low, and the demand is expected to be high. It is expected that urea will fluctuate strongly in March, and attention should be paid to the impact of national reserve release on the price [24][26].

Group 1 - The domestic futures market showed mixed performance on February 27, 2026, with major contracts experiencing varying degrees of increase and decrease [1][6]. - Aluminum oxide fell over 3%, while lithium carbonate, palladium, silver, PVC, and fuel dropped more than 2%. Additionally, plastics, PTA, and methanol saw declines of nearly 2% [1][6]. - On the upside, tin rose over 2%, and SC crude oil, white sugar, and soybean futures increased by nearly 1% [1][6]. Group 2 - Specific contract details indicate that the aluminum contract (2604 M) had a latest price of 433,000 with a change of 3.54% [2][7]. - The oilseed contract (2609 M) showed a price of 5,795, reflecting a 1.44% increase [2][7]. - The PVC contract (2605 W) recorded a price of 4,779, down by 2.33% [2][7].

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints - Due to the unclear situation between the US and Iran during the holiday, crude oil has obtained a geopolitical premium. The US and Iran are in a tense stand - off of "talking while fighting", and there is still uncertainty as Trump's "10 - 15 day ultimatum" to Iran approaches. Brent crude oil rose 3.51% or 5.81% this week [2]. - OPEC+ has suspended production increases in the first quarter, and eight core member countries will hold an online meeting on March 1st to make a final decision. Russian crude oil exports are at a low level, and there is room for an increase if the "Russia - Ukraine peace agreement" is reached. US production remains high with a low growth rate, and the number of rigs and new wells has been stable recently. In the medium term, the US may increase investment in Venezuela's oil and gas industry, and Venezuela's production capacity is expected to gradually recover. Overall, there is still pressure on the supply growth rate, with short - term focus on Iran (geopolitical fermentation) and long - term focus on OPEC+ policies, US, and Russian production changes [2]. 3. Summary by Relevant Catalogs Market Review and Outlook - The situation between the US and Iran is unclear, and crude oil has obtained a geopolitical premium. The US and Iran are in a "talking while fighting" stand - off, and uncertainty remains as the ultimatum approaches. Brent crude oil had a weekly increase [2]. - The latest monthly report of the International Energy Agency shows that the global crude oil inventory accumulation rate in 2025 was the fastest since 2020, with an increase of 477 million barrels. OECD countries' inventory exceeded the 5 - year average for the first time in 4 years [2]. Future Market Outlook - OPEC+ has suspended production increases in Q1, and an online meeting will be held on March 1st. Russian exports are low, with potential for recovery. US production is high with low growth, and Venezuela's capacity may recover. Supply growth pressure exists, with short - term focus on Iran and long - term on OPEC+ policies, US, and Russian production [2]. Factors to Watch - Geopolitical factors and weekly crude oil data [3] Weekly Changes in Fundamental Data - **Price Changes**: SC crude oil futures rose 7.80% to 506.46 yuan/barrel; Oman crude oil spot fell 1.23% to 67.25 dollars/barrel; Brent crude oil futures rose 4.99% to 71.50 dollars/barrel; WTI crude oil futures rose 4.44% to 66.33 dollars/barrel [4]. - **Supply Changes**: US crude oil production increased 3.93% to 13,735 thousand barrels per day [4]. - **Inventory Changes**: US crude oil inventory decreased 0.12% to 419,815 thousand barrels [4]. - **Profit Changes**: The comprehensive refinery profit increased 35.81% to 895 yuan/ton [4]

Core Viewpoint - The domestic futures market shows a mixed performance with significant gains in several commodities while others experience declines, indicating volatility in market trends [6][9]. Price Movements - Silver futures (沪银) increased by over 12% [6][7]. - Lithium carbonate (碳酸锂) rose by more than 10% [6][7]. - European shipping index (集运欧线) and SC crude oil (SC原油) both saw increases exceeding 6% [6][7]. - Low sulfur fuel oil (低硫燃料油) and platinum (铂) gained over 5% [6][7]. - Palladium (钯) and butadiene rubber (丁二烯橡胶) increased by more than 4% [6][7]. Declines - Polycrystalline silicon (多晶硅) fell by over 4% [6][7]. - Coking coal (焦炭) and live pigs (生猪) both decreased by more than 2% [6][7].