Group 1: Report Information - Report Title: "Light Period Black: Iron Ore Basis and Spread Monitoring Daily Report" [1] - Date: September 12, 2025 [1] Group 2: Contract Spreads - I05 closed at 773.5 yuan/ton, down 7.5 yuan from the previous day; I09 closed at 840.5 yuan/ton, down 7.0 yuan; I01 closed at 795.5 yuan/ton, down 9.5 yuan [3] - The spread of I05 - I09 was -67.0 yuan/ton, down 0.5 yuan; I09 - I01 was 45.0 yuan/ton, up 2.5 yuan; I01 - I05 was 22.0 yuan/ton, down 2.0 yuan [3] Group 3: Basis Data - For various iron ore varieties, prices and basis changed. For example, the price of Carajás Fines was 900 yuan/ton, down 8.0 yuan, and the basis was 64 yuan, up 1 yuan [6] - The price of BRBF was 812 yuan/ton, down 8.0 yuan, and the basis was 43 yuan, up 1 yuan [6] Group 4: Exchange Rule Adjustments - Four new deliverable varieties (Benxi Concentrate, IOC6, KUMBA, Ukrainian Concentrate) were added with a brand premium of 0, effective from the I2202 contract [11] - Brand premiums of existing varieties were adjusted. Only PB Fines, BRBF, and Carajás Fines had a brand premium of 15 yuan/ton, and others were 0 [11] - Quality difference and premium rules for substitutes were modified, including adjusting the allowable range of iron grade and other elements and introducing a dynamic adjustment mechanism for iron element premium [11] - Four new deliverable brands (Taigang Concentrate, Magang Concentrate, Minmetals Standard Fines, SP10 Fines) were added with a brand premium of 0 yuan/ton, applicable to the I2312 and subsequent contracts [11] Group 5: Variety Spreads - The spread of PB Lump - PB Fines was 138.0 yuan/ton, up 2.0 yuan; PB Fines - FMG Mixed Fines was 51.0 yuan/ton, down 3.0 yuan [13] - The spread of Newman Lump - Newman Fines was 139.0 yuan/ton, up 1.0 yuan; PB Fines - Super Special Fines was 90.0 yuan/ton, down 4.0 yuan [13] Group 6: Research Team Introduction - Qiu Yuecheng is the Assistant Director of the Research Institute and the Director of Black Research at Everbright Futures, with nearly 20 years of experience in the steel industry [23] - Zhang Xiaojin is the Director of Resource Product Research at Everbright Futures, with rich experience in the field of power coal [23] - Liu Xi is a black researcher at Everbright Futures, good at fundamental supply - demand analysis based on industrial chain data [23] - Zhang Chunjie is a black researcher at Everbright Futures, with experience in investment trading strategies and spot - futures operations [23]

Group 1: Report Industry Investment Ratings - The report does not provide an overall industry investment rating. However, for each black commodity, the short - term price trends are predicted as follows: steel (narrow - range consolidation), iron ore (fluctuation), coking coal (fluctuation), coke (fluctuation), manganese silicon (fluctuation), and ferrosilicon (fluctuation) [1] Group 2: Core Views of the Report - For steel, the price of rebar futures fluctuated and declined. Spot prices were stable with some declines, and trading volume decreased. Rebar production increased, inventory accumulated for the seventh consecutive week, and apparent demand declined slightly. It is expected that the rebar futures market will mainly move in a narrow - range consolidation in the short term [1] - For iron ore, the price of the main futures contract first fell and then rose. Supply decreased, while demand increased due to the resumption of blast furnaces. Under the influence of multiple factors, it is expected that ore prices will fluctuate [1] - For coking coal, the futures price rose. Supply saw stable resumption, but downstream demand was mainly based on on - demand procurement. It is expected that the coking coal futures market will fluctuate in the short term [1] - For coke, the futures price rose. Supply increased as coke production increased, while demand was weak due to poor steel consumption. It is expected that the coke futures market will fluctuate in the short term [1] - For manganese silicon, the futures price fluctuated weakly. Supply was at a relatively high level, and demand was expected to increase. With cost support, it is expected that the manganese silicon market will mainly fluctuate in the short term [1][3] - For ferrosilicon, the futures price fluctuated weakly. Supply was at a relatively high level, and demand was expected to increase. With cost support, it is expected that the ferrosilicon market will mainly fluctuate in the short term [3] Group 3: Summary According to Relevant Catalogs 1. Research Views - **Steel**: The closing price of the rebar 2601 contract was 3092 yuan/ton, a decrease of 17 yuan/ton or 0.55% from the previous trading day, with an increase of 133,000 in open interest. The national rebar production this week decreased by 67,500 tons to 2.1193 million tons compared with the previous week, and the apparent demand decreased by 40,000 tons to 1.9807 million tons [1] - **Iron Ore**: The closing price of the main futures contract i2601 was 795.5 yuan/ton, a decrease of 9.5 yuan/ton or 1.18% from the previous trading day. The global iron ore shipments decreased from the high level. The molten iron output increased by 117,100 tons to 2.4055 million tons compared with the previous week [1] - **Coking Coal**: The closing price of the coking coal 2601 contract was 1141.5 yuan/ton, an increase of 24.5 yuan/ton or 2.19%, with an increase of 13,673 in open interest. Some coal types in coal mines accumulated inventory, and downstream demand was mainly based on on - demand procurement [1] - **Coke**: The closing price of the coke 2601 contract was 1630 yuan/ton, an increase of 27 yuan/ton or 1.68%, with an increase of 472 in open interest. Coke production increased steadily, and some steel mills began to control the procurement rhythm [1] - **Manganese Silicon**: The main contract price was 5838 yuan/ton, a decrease of 0.24% compared with the previous day, with an increase of 2085 in open interest. The 9 - month silicon - manganese tender was 17,000 tons, an increase of 900 tons compared with August [1][3] - **Ferrosilicon**: The main contract price was 5626 yuan/ton, a decrease of 0.18% compared with the previous day, with a decrease of 5691 in open interest. A large steel group in Hebei tendered 3151 tons of 75B ferrosilicon in September, an increase of 316 tons compared with August [3] 2. Daily Data Monitoring - **Contract Spreads and Basis**: Data on contract spreads (such as 1 - 5 months, 5 - 10 months) and basis for various commodities (rebar, hot - rolled coil, iron ore, coke, coking coal, manganese silicon, ferrosilicon) are provided, along with their latest values and month - on - month changes [4] - **Profits and Cross - Commodity Spreads**: Data on profits (such as rebar futures profit, long - process profit, short - process profit) and cross - commodity spreads (such as hot - rolled coil to rebar spread, rebar to iron ore ratio) are provided, along with their latest values and month - on - month changes [4] 3. Chart Analysis - **3.1 Main Contract Prices**: Charts show the closing prices of main contracts for rebar, hot - rolled coil, iron ore, coke, coking coal, manganese silicon, and ferrosilicon from 2020 to 2025 [6][7][15] - **3.2 Main Contract Basis**: Charts show the basis of main contracts for various commodities from 2022 - 2026 [17][19][22][24] - **3.3 Inter - Period Contract Spreads**: Charts show the inter - period contract spreads (such as 10 - 01, 01 - 05) for various commodities from 2019 - 2026 [26][29][31][32][34][36][38][40] - **3.4 Cross - Commodity Contract Spreads**: Charts show the cross - commodity contract spreads (such as hot - rolled coil to rebar spread, rebar to iron ore ratio) from 2020 - 2025 [42][43][44][46] - **3.5 Rebar Profits**: Charts show the profits of rebar main contracts (such as coal - coke ratio, double - silicon spread) from 2020 - 2025 [46][47][51] 4. Black Research Team Members Introduction - The black research team includes Qiu Yuecheng, Zhang Xiaojin, Liu Xi, and Zhang Chunjie, each with their own professional backgrounds and qualifications [53][54]

光大期货煤化工商品日报 光大期货煤化工商品日报（2025 年 9 月 12 日） 一、研究观点 | 品种 | 点评 | 观点 | | --- | --- | --- | | | 周四尿素期货价格弱势窄幅波动，主力 01 合约收盘价 1671 元/吨，跌幅 0.48%。现 | | | | 货市场继续走弱，主流地区市场价格回落 10～40 元/吨不等，山东、河南地区市场价 | | | | 格均为 1660 元/吨，日环比继续下降 10 元/吨。基本面来看，尿素供应水平继续窄幅 | | | 尿素 | 波动，昨日行业日产量 18.54 万吨，日环比增 0.03 万吨，后续随着企业复产日产或逐 | 震荡 | | | 步提升。需求端情绪局部有所好转，个别地区产销恢复至 100%附近，其余地区产销 | | | | 率依旧维持低位。印标结果逐步明朗，中国后续跟进数量仍值得关注。短期市场利好 | | | | 因素出尽，尿素期货价格偏弱震荡为主，关注我国出口动态、商品市场整体情绪。 | | | | 周四纯碱期货价格坚挺运行，主力 01 合约收盘价 1287 元/吨，涨幅 1.26%。纯碱现 货市场报价稳定，贸易商报价继续跟随盘面 ...

软商品日报 光大期货软商品日报（2025 年 9 月 12 日） 一、研究观点 | 品种 | 点评 | 观点 | | --- | --- | --- | | | 周四，ICE 美棉上涨 0.1%，报收 66.74 美分/磅，CF601 环比持平，报收 13835 元/ | | | | 吨，主力合约持仓环比下降 2390 手至 50.25 万手，新疆地区棉花到厂价约 15186 | | | | 元/吨，较前一日下降 24 元/吨，全国棉花市场均价 15249 元/吨，较前一日下跌 | | | | 37 元/吨。国际市场方面，近期市场关注重心更多在于宏观层面，美国通胀数据降 | | | | 温，目前 9 月降息概率仍接近 100%，美元指数震荡偏弱，对美棉价格有一定支撑。 | | | | 此外关注本周六凌晨即将公布的 USDA9 月报。国内市场方面，郑棉期价重心低位 | 低位震 | | 棉花 | 窄幅震荡，近期整体走势偏弱。我们认为即将大量上市的新棉对供应端的压力是 | | | | 影响近期棉价走势的主要因素之一。此外，近期需求端及服装出口面临的压力也 | 荡 | | | 是影响因素之一。但我们认为下方的空间有限 ...

Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report - Corn: In the current new - old crop transition period, the spot market shows weak prices in North Ports and strong prices in production areas, with chaotic and differentiated quotes. Corn futures prices can move up or down. The short - term 11 - month contract has a pressure area at 2180 - 2200, with a short - term adjustment expected and a medium - term bearish outlook due to expected high yields and lower costs [1]. - Soybean and Soybean Meal: CBOT soybeans rose on Thursday. Analysts expect a decrease in US soybean yield, export estimates, and a slight reduction in inventory. Domestic soybean meal prices are mainly oscillating, with stable import costs, sufficient domestic supply, and increased apparent consumption. Short - term participation is recommended [1]. - Oils: BMD palm oil closed higher on Thursday, but weak demand curbed the increase. Canadian rapeseed and US soybean oil also rose. Domestic oil futures prices are oscillating. Strategies include trading volatility or selling put options [1]. - Eggs: Egg futures oscillated on Thursday. Seasonal increases support spot prices, but supply pressure limits the rebound. With the current long - short game, it is recommended to wait and see and focus on market sentiment and supply - side changes [1][2]. - Pigs: Pig futures continued to oscillate on Thursday. Spot prices are generally stable with partial adjustments. The short - term fundamentals are stable, and the market is waiting for policy guidance [2]. Summary by Related Catalogs Market Information - EU Soft Wheat and Corn: The EU's 2025/26 soft wheat production is expected to reach a record high of 136.1 million tons, up 330,000 tons from last month's forecast and 19.8% higher than the previous season. However, EU soft wheat exports are weak due to Russian competition and lack of Chinese imports. The EU's corn production forecast is lowered to 55.7 million tons, a 5.4% decrease from 2024/25 due to adverse weather [3]. - Malaysian Palm Oil: From September 1 - 10, 2025, Malaysian palm oil's yield, oil extraction rate, and production decreased compared to the same period last month [3]. - Imported Soybean Auction: On September 11, the National Grain Trading Center planned to auction 22,524.3 tons of imported soybeans, all of which were sold at an average price of 3801 yuan/ton [4]. Variety Spreads - Contract Spreads: The report provides charts of 1 - 5 spreads for various agricultural products including corn, corn starch, soybeans, soybean meal, eggs, and pigs [5][6][7][11]. - Contract Basis: The report provides charts of the basis for various agricultural products such as corn, corn starch, soybeans, soybean meal, eggs, and pigs [13][14][17][24].

Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Core Views of the Report - Copper prices may continue a mild recovery supported by the Fed's expected rate - cut, expectations of domestic pro - growth policies, and the anticipated improvement in fundamentals during the "Golden September and Silver October" period, but the market may be cautious around the Fed's interest - rate meeting next week [1] - Aluminum prices are generally strong. Alumina has weak support below, while aluminum alloy is relatively more resilient than electrolytic aluminum in the short term. The inventory inflection point of aluminum ingots is postponed [2] - For nickel, with the marginal improvement of ferronickel and the new energy sector, there are opportunities to go long at low prices, but continuous inventory accumulation on the LME exerts pressure on prices [2] Group 3: Summary According to Relevant Catalogs 1. Research Views Copper - Macro: US inflation in August was in line with expectations, and a 25 - basis - point Fed rate cut next week is almost certain. China's CPI in August turned negative year - on - year, and the finance minister emphasized proactive macro - policies [1] - Inventory: LME copper inventory decreased by 875 tons, Comex copper increased by 1023 tons, SHFE copper warehouse receipts increased by 902 tons, and BC copper increased by 1001 tons [1] - Demand: High copper prices led to weak downstream purchasing sentiment [1] Aluminum - Price: Alumina oscillated weakly, while Shanghai aluminum and aluminum alloy oscillated strongly [1][2] - Inventory: The inventory inflection point of aluminum ingots was postponed, and the social inventory of alumina decreased by 1.0 million tons [2][6] - Market situation: Alumina has a surplus pattern, and the new energy and other sectors' peak - season expectations have started [2] Nickel - Price: Both LME and SHFE nickel prices rose [2] - Inventory: LME nickel inventory increased by 2058 tons, and SHFE nickel warehouse receipts decreased by 193 tons [2] - Market situation: Nickel ore prices were stable, stainless - steel cost support strengthened, and the price of new - energy raw materials may remain strong [2] 2. Daily Data Monitoring Copper - Price: The price of flat - water copper increased by 450 yuan/ton, and the active - contract import loss increased by 221.6 yuan [5] - Inventory: Total inventory increased by 2103 tons, and LME0 - 3 premium decreased by 9.3 dollars/ton [5] Lead - Price: The average price of 1 lead increased by 30 yuan/ton, and the price of recycled refined lead increased by 50 yuan/ton [5] - Inventory: SHFE lead inventory increased by 2162 tons, and the active - contract import loss increased by 26 yuan [5] Aluminum - Price: Wuxi and Nanhai aluminum prices increased, and the spot premium increased by 30 yuan/ton [6] - Inventory: Total inventory decreased by 1518 tons, and the social inventory of alumina decreased by 1.0 million tons [6] Nickel - Price: The price of Jinchuan nickel remained unchanged, and the price of low - nickel ferronickel increased by 50 yuan/ton [6] - Inventory: LME nickel inventory increased by 2058 tons, and SHFE nickel inventory increased by 547 tons [6] Zinc - Price: The main - contract settlement price increased by 0.2%, and the price of zinc alloy and zinc oxide increased [8] - Inventory: SHFE zinc inventory increased by 793 tons, and the social inventory increased by 0.41 million tons [8] Tin - Price: The main - contract settlement price increased by 0.7%, and the price of tin concentrate increased by 900 yuan/metal ton [8] - Inventory: SHFE tin inventory increased by 207 tons, and the active - contract import loss decreased by 28328 yuan [8] 3. Chart Analysis - The report provides multiple charts including those for spot premiums, SHFE near - far month spreads, LME inventory, SHFE inventory, social inventory, and smelting profits of various non - ferrous metals [8][13][16] 4. Non - ferrous Metals Team Introduction - The team includes Zhan Dapeng, Wang Heng, and Zhu Xi, who have rich experience in non - ferrous metal research and have achieved many honors and results [44][45]

光大期货金融期货日报 光大期货金融期货日报（2025 年 09 月 12 日） 一、研究观点 | 品种 | 点评 市场全天震荡走强，创业板指、科创 50 均涨超 5%。个股涨多跌少，沪深京 | 观点 | | --- | --- | --- | | | 三市超 4200 股飘红，今日成交 2.46 万亿。截止收盘沪指涨 1.65%，深成指 涨 3.36%，创业板指涨 5.15%。8 月以来，A 股行情呈现"缩圈"态势，个别 | | | | 题材交易拥挤度较高，考虑到前期获利盘了解等因素，短期回调属于正常现 | | | | 象。长期来看，美联储会议表态偏鸽，市场计价年内多次降息，A 股同样受 | | | | 益。此外，上海调整住房限购政策、公积金贷款政策和商业住房贷款利率定 | | | 股指 | 价机制，扩大潜在购房需求，地产银行板块上涨。此前，中共中央办公厅、 | 偏强 | | | 国务院办公厅印发了《育儿补贴制度实施方案》，标志着育儿补贴制度正式 | | | | 在全国范围内落地。这是我国近年来第一次发布普惠型中央财政政策，尽管 | | | | 总量仍有提升空间，但对于提升居民端收益水平影响较为直接。预计未来 ...

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - The oil price is under pressure due to the increase in supply from OPEC+ and concerns about supply - overcapacity, with the IEA suggesting a possible surplus in 2026. The price of crude oil is expected to fluctuate [1]. - The fuel oil market is also in a state of oscillation. The high - sulfur fuel oil market is suppressed by factors such as weak demand before the refinery maintenance season and after the end of summer power generation demand. The low - sulfur fuel oil supply in Singapore may increase, and the market should focus on the cost - side fluctuations of crude oil [3]. - The asphalt price is expected to rise further as the supply pressure is limited and the seasonal demand in September and October is expected to increase. However, it is also necessary to pay attention to the cost - side fluctuations of oil prices [3]. - The polyester market is expected to be weak with oscillations. Although the fundamentals of PX are improving, TA and ethylene glycol still face challenges such as weak downstream demand and uncertain supply recovery [5]. - The rubber market is expected to oscillate. The demand is stable, the inventory is decreasing, but the weather in the production areas during the peak - production season needs to be closely monitored [7]. - The methanol price is expected to reach a temporary bottom. Although the supply will gradually increase, the demand from MTO devices in the East China region is expected to increase, and the port inventory will peak in the middle of the month [7]. - The polyolefin market is expected to oscillate weakly. Although the demand is picking up with the arrival of the peak season, the cost pressure restricts the price upward movement [7]. - The PVC market is expected to oscillate weakly. The supply remains high, the domestic demand recovers slowly, and the export is affected by anti - dumping policies, with large inventory pressure [9]. 3. Summary According to Relevant Catalogs 3.1 Research Views - **Crude Oil**: On Thursday, the oil price dropped. The IEA raised the global oil supply growth forecast for 2025 to 2.7 million barrels per day and predicted an increase of 2.1 million barrels per day in 2026. OPEC+ is increasing supply, which has led to concerns about overcapacity and pressured the oil price. The demand growth is slower than the supply growth, and the OPEC monthly report shows an increase in production in August [1]. - **Fuel Oil**: The main contract of high - sulfur fuel oil on the SHFE rose 0.47%, and the low - sulfur fuel oil main contract fell 0.53%. The supply in Singapore may increase, and the high - sulfur fuel oil market is affected by weak demand [3]. - **Asphalt**: The main contract of asphalt on the SHFE rose 0.76%. The domestic refinery asphalt inventory increased slightly, the social inventory decreased, and the device operating rate decreased. The supply pressure is limited, and the price may rise with the arrival of the demand peak season [3]. - **Polyester**: TA and EG prices fell, and PX prices rose slightly. The production and sales of polyester yarn in Jiangsu and Zhejiang are weak. Some production devices have maintenance or restart plans, and the market is expected to be weak with oscillations [5]. - **Rubber**: The prices of various rubber varieties dropped. The operating rate of tire enterprises in Shandong increased, the demand is stable, the inventory is decreasing, and the price is expected to oscillate [7]. - **Methanol**: The supply is at a temporary low due to domestic device maintenance, but it will gradually increase. The Iranian device has high load and stable shipping volume, but there is an expected maintenance. The MTO device in the East China region may start up, and the port inventory will peak in the middle of the month [7]. - **Polyolefin**: The prices of various polyolefin products show different trends. The supply will remain high, the demand is picking up with the peak season, but the cost pressure makes the market expected to oscillate weakly [7]. - **Polyvinyl Chloride**: The PVC market prices in different regions are adjusted slightly. The domestic real - estate construction is recovering, but the demand for pipes and profiles has limited growth. The supply is high, the export is affected by policies, and the inventory pressure is large, so the price is expected to oscillate weakly [9]. 3.2 Daily Data Monitoring - The report provides the spot price, futures price, basis, basis rate, and other data of various energy - chemical products on September 12, 2025, including crude oil, liquefied petroleum gas, asphalt, fuel oil, methanol, etc., and also shows the changes in these data compared with the previous period and their positions in historical data [11]. 3.3 Market News - The IEA raised the global oil supply growth forecast for 2025 and suggested a possible surplus in 2026 due to the increase in supply from OPEC+ and non - OPEC countries. The OPEC monthly report shows an increase in OPEC+ crude oil production in August [14][15]. 3.4 Chart Analysis - **4.1 Main Contract Prices**: The report presents the closing price trends of main contracts of various energy - chemical products from 2021 to 2025, including crude oil, fuel oil, low - sulfur fuel oil, asphalt, etc., through charts [17]. - **4.2 Main Contract Basis**: It shows the basis trends of main contracts of various products, such as crude oil, fuel oil, low - sulfur fuel oil, etc., through charts [35]. - **4.3 Inter - period Contract Spreads**: The report displays the spreads between different contracts of various products, such as fuel oil, asphalt, PTA, etc., through charts [48]. - **4.4 Inter - variety Spreads**: It presents the spreads and ratios between different varieties, such as crude oil internal and external markets, fuel oil high - low sulfur, etc., through charts [64]. - **4.5 Production Profits**: The report shows the production profit trends of products such as ethylene - glycol, PP, LLDPE, etc., through charts [75]. 3.5 Team Member Introduction - The report introduces the members of the light - period energy - chemical research team, including their positions, educational backgrounds, honors, research areas, and professional qualifications [79]. 3.6 Contact Information - The company's address, phone number, fax, customer service hotline, and postal code are provided [84].

软商品日报 光大期货软商品日报（2025 年 9 月 11 日） 三、市场信息 1、9 月 10 日棉花期货仓单数量 5322 张，较上一交易日下降 137 张，有效预报 0 张。 软商品日报 | 二、日度数据监测 | | --- | | 品种 | 合约价差 | 最新 | 环比 | 主力基差 | 环比 | 现货 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 棉花 | 1-5 | 35 | -10 | 1431 | -69 | 新疆 | 15210 | -43 | | | | | | | | 全国 | 15286 | -49 | | 白糖 | 1-5 | 26 | 8 | 400 | -17 | 南宁 | 5880 | 0 | | | | | | | | 柳州 | 5935 | 0 | 一、研究观点 | 品种 | 点评 | 观点 | | --- | --- | --- | | | 周三，ICE 美棉上涨 0.39%，报收 66.72 美分/磅，CF601 环比下降 0.18%，报收 13855 左右，美元指数震荡偏弱， ...

1. Index Trends - On September 10, the Shanghai Composite Index rose 0.13% to close at 3812.22 points, with a trading volume of 821.114 billion yuan; the Shenzhen Component Index rose 0.38% to close at 12557.68 points, with a trading volume of 1157.009 billion yuan [1]. - The CSI 1000 Index rose 0.06%, with a trading volume of 396.105 billion yuan. The opening price was 7214.23, the closing price was 7230.17, the highest price was 7296.0, and the lowest price was 7179.76 [1]. - The CSI 500 Index rose 0.05%, with a trading volume of 359.667 billion yuan. The opening price was 6911.11, the closing price was 6932.11, the highest price was 6977.77, and the lowest price was 6870.4 [1]. - The SSE 50 Index rose 0.37%, with a trading volume of 133.802 billion yuan. The opening price was 2928.11, the closing price was 2939.59, the highest price was 2954.44, and the lowest price was 2923.56 [1]. 2. Impact of Sector Movements on Indexes - The CSI 1000 rose 4.14 points from the previous closing price. Sectors such as computer, communication, and electronics had a significant upward pull on the index, while sectors such as basic chemicals, machinery, and power equipment had a significant downward pull [2]. - The CSI 500 rose 3.14 points from the previous closing price. Sectors such as electronics, media, and national defense and military industry had a significant upward pull on the index, while sectors such as basic chemicals, pharmaceuticals, and power equipment had a significant downward pull [2]. - The SSE 300 rose 9.1 points from the previous closing price. Sectors such as electronics, communication, and computer had a significant upward pull on the index, while sectors such as pharmaceuticals, non - ferrous metals, and power equipment had a significant downward pull [2]. - The SSE 50 rose 10.96 points from the previous closing price. Sectors such as electronics, food and beverage, and communication had a significant upward pull on the index, while the non - banking financial sector had a significant downward pull [2]. 3. Stock Index Futures Basis and Annualized Opening Costs - For IM contracts, IM00 had an average daily basis of - 48.92, IM01 had - 111.1, IM02 had - 256.62, and IM03 had - 440.96 [13]. - For IC contracts, IC00 had an average daily basis of - 45.02, IC01 had - 105.35, IC02 had - 219.54, and IC03 had - 367.48 [13]. - For IF contracts, IF00 had an average daily basis of - 9.15, IF01 had - 17.91, IF02 had - 37.36, and IF03 had - 57.04 [13]. - For IH contracts, IH00 had an average daily basis of - 1.43, IH01 had - 2.54, IH02 had - 2.66, and IH03 had - 0.32 [13]. 4. Stock Index Futures Roll - over Point Differences and Annualized Costs - For IC contracts, data on roll - over point differences and their annualized costs at different times are provided, such as at 09:45, IC00 - 01 was - 68.64222, IC00 - 02 was - 225.568, etc. [23]. - For IH contracts, data on roll - over point differences and their annualized costs at different times are provided, such as at 09:45, IH00 - 01 was 0.707, IH00 - 02 was 1.4593333, etc. [24]. - For IM contracts, data on roll - over point differences and their annualized costs at different times are provided, such as at 09:45, IM00 - 01 was - 73.02267, IM00 - 02 was - 259.4522, etc. [25]. - For IF contracts, data on roll - over point differences and their annualized costs at different times are provided, such as at 09:45, IF00 - 01 was - 12.31678, IF00 - 02 was - 41.14122, etc. [26].