意大利10年期国债收益率下跌9个基点至4.355%，上周五一度上涨10个基点。

伦敦金属交易所(LME)：铅库存减少900吨，镍库存减少300吨，锌库存增加1550吨，铜库存增加775吨，铝库存减少400吨，锡库存减少75吨。

Sept. 20 — ChangXin announced its fifth-generation DRAM platform G5 has entered mass production. G5, using quadruple-exposure DUV, raises bit density ~50% versus the prior generation and materially increases die-per-wafer, narrowing the process-density gap with international leaders. In the current memory upcycle amid tight supply, the capacity jump strengthens ChangXin’s cost competitiveness and pricing power, supporting entry into domestic flagship smartphone supply chains and enabling participation in global DDR5 and LPDDR5X cost competition. Continued G5-driven capacity expansion could lift the share of domestic semiconductor equipment to above 40%, directly increasing demand for etch and thin-film deposition tools and providing visible revenue upside for upstream suppliers.