Group 1: Report Overview - The report is a Maike Futures basis statistics table dated February 4, 2026, at 9:00, covering various futures and spot prices [2]. Group 2: Core Data Metals - **Copper (CU)**: The main contract basis rate is 1.06%, with a decrease of -0.31% compared to yesterday. The current month, next month, and the month after next basis are -310, -670, and -850 respectively. The spot price is 101,320, and the source is SMM 1 electrolytic copper [3]. - **Aluminum (AL)**: The main contract basis rate is -0.98%, with an increase of 0.44% compared to yesterday. The current month, next month, and the month after next basis are -230, -332, and -395 respectively. The spot price is 23,290, and the source is SMM A00 aluminum [3]. - **Zinc (ZN)**: The main contract basis rate is 0.58%, with an increase of 1.34% compared to yesterday. The current month and next month basis are 145 and 82 respectively. The spot price is 25,050, and the source is SMM 0FFF [3]. - **Tin (SN)**: The main contract basis rate is 2.30%, with an increase of 6.71% compared to yesterday. The current month, next month, and the month after next basis are 8280, 7270, and 7420 respectively. The spot price is 381,900, and the source is SMM 1 tin [3]. - **Nickel (NI)**: The main contract basis rate is 2.12%, with an increase of 4.81% compared to yesterday. The current month, next month, and the month after next basis are 6380, 2030, and 5720 respectively. The spot price is 139,050, and the source is SMM 1 electrolytic nickel [3]. - **Industrial Silicon (IT)**: The main contract basis rate is 5.47%, with an increase of 0.06% compared to yesterday. The current month and next month basis are 510 and 485 respectively. The spot price is 88,520, and the source is SMM East China general 553 silicon [3]. - **Lithium Carbonate (LC)**: The main contract basis rate is 1.31%, with an increase of 0.49% compared to yesterday. The current month, next month, and the month after next basis are 2140, 2140, and 1900 respectively. The spot price is 147,200, and the source is Steel Union high - quality battery - grade lithium carbonate [3]. - **Gold (AU)**: The main contract basis rate is 0.23%, with a decrease of -1.60% compared to yesterday. The current month and next month basis are -0.50 and -2.36 respectively. The spot price is 1096.34, and the source is AuT + D: Shanghai Gold Exchange [3]. - **Silver (AG)**: The main contract basis rate is 0.72%, with an increase of 6.40% compared to yesterday. The current month, next month, and the month after next basis are 154, 779, and 1235 respectively. The spot price is 21,600, and the source is Ag(T + D): Shanghai Gold Exchange [3]. Ferrous Metals - **Rebar (RB)**: The main contract basis rate is 3.58%, with a decrease of -0.03% compared to yesterday. The current month and next month basis are 111 and 28 respectively. The spot price is 3210, and the source is HRB400: 20mm: Shanghai [3]. - **Hot - Rolled Coil (HC)**: The main contract basis rate is -0.46%, with a decrease of -0.12% compared to yesterday. The current month, next month, and the month after next basis are -15, -36, and -60 respectively. The spot price is 3250, and the source is Q235B: 4.75mm: Shanghai [3]. - **Iron Ore**: The main contract basis rate is 7.34%, with an increase of 0.20% compared to yesterday. The current month, next month, and the month after next basis are 57.1, 74.6, and 85.6 respectively. The spot price is 834.6, and the source is PB powder: 61%: Qingdao [3]. - **Coke**: The main contract basis rate is -11%, with a decrease of -1.92% compared to yesterday. The current month, next month, and the month after next basis are -110.0, -179.0, and -269.0 respectively. The spot price is 1605, and the source is metallurgical coke: quasi - first - class [3]. - **Coking Coal**: The main contract basis rate is 5.14%, with a decrease of -2.19% compared to yesterday. The current month, next month, and the month after next basis are 60.0, -18.0, and -182.5 respectively. The spot price is 1227.5, and the source is main coking coal: Jixian: Mongolian No. 5 [3]. - **Steam Coal (ZC)**: The main contract basis rate is 12.65%, with no change (0.00%) compared to yesterday. The current month, next month, and the month after next basis are -101.4, -101.4, and -101.4 respectively. The spot price is 700.0, and the source is Shanxi Q500: Qinhuangdao Port [3]. - **Silicon Iron (SF)**: The main contract basis rate is -5.87%, with an increase of 0.07% compared to yesterday. The current month, next month, and the month after next basis are -316, -390, and -466 respectively. The spot price is 5290, and the source is FeSi75 - B: Inner Mongolia [3]. - **Manganese Silicon (SM)**: The main contract basis rate is 1.44%, with a decrease of -0.03% compared to yesterday. The current month and next month basis are 84 and 40 respectively. The spot price is 5920, and the source is FeMn68Si18: Hebei [3]. - **Stainless Steel**: The main contract basis rate is 3.79%, with a decrease of -2.7% compared to yesterday. The current month and next month basis are 382 and 255 respectively. The spot price is 14100, and the source is 304/2B: 2.0*1219: Angang Lianzhong Wuxi [3]. Agricultural Products - **Soybeans (A)**: The main contract basis rate is -6.18%, with an increase of 0.19% compared to yesterday. The current month, next month, and the month after next basis are -284, -318, and -318 respectively. The spot price is 4100, and the source is domestic first - class soybeans: Harbin [3]. - **Soybean Meal (M)**: The main contract basis rate is 11.11%, with an increase of 0.20% compared to yesterday. The current month, next month, and the month after next basis are 137, 303, and 189 respectively. The spot price is 3030, and the source is ordinary protein soybean meal: Zhangjiagang [3]. - **Rapeseed Meal (RM)**: The main contract basis rate is 10.72%, with an increase of 1.31% compared to yesterday. The current month, next month, and the month after next basis are 241, 203, and 265 respectively. The spot price is 2490, and the source is ordinary rapeseed meal: Nantong [3]. - **Edible Oils and Oilseeds** - **Soybean Oil (V)**: The main contract basis rate is 6.98%, with a decrease of -0.94% compared to yesterday. The current month, next month, and the month after next basis are 564, 620, and 650 respectively. The spot price is 8650, and the source is first - grade soybean oil: Zhangjiagang [3]. - **Rapeseed Oil (OI)**: The main contract basis rate is 8.19%, with a decrease of -1.26% compared to yesterday. The current month, next month, and the month after next basis are 910, 755, and 835 respectively. The spot price is 9970, and the source is rapeseed oil: Jiangsu [3]. - **Peanuts (PK)**: The main contract basis rate is 14.57%, with no change (0.00%) compared to yesterday. The current month, next month, and the month after next basis are 1274, 668, and 990 respectively. The spot price is 9200, and the source is Baisha peanuts: 45% oil content, 9% water content, Changtu [3]. - **Palm Oil (P)**: The main contract basis rate is 0.73%, with an increase of 0.22% compared to yesterday. The current month, next month, and the month after next basis are 66, 120, and 200 respectively. The spot price is 9160, and the source is 24 - degree palm oil: Guangdong [3]. - **Grains** - **Corn (C)**: The main contract basis rate is 2.56%, with a decrease of -0.49% compared to yesterday. The current month and next month basis are 71 and 28 respectively. The spot price is 5355, and the source is Guoshenquan Port national - standard first - class corn [3]. - **Corn Starch (CS)**: The main contract basis rate is 4.03%, with an increase of 0.17% compared to yesterday. The current month and next month basis are 38 and 40 respectively. The spot price is 2572, and the source is the ex - factory price of corn starch: Changchun [3]. - **Agricultural By - products** - **Apples (AP)**: The main contract basis rate is -12.49%, with a decrease of -0.98% compared to yesterday. The current month and next month basis are -1185 and 44 respectively. The spot price is 8300, and the source is the average price of red Fuji apples in Yantai Qixia and Shaanxi Luochuan [3]. - **Eggs (JD)**: The main contract basis rate is 26.99%, with a decrease of -2.42% compared to yesterday. The current month, next month, and the month after next basis are 323, -123, and 3427 respectively. The spot price is 3427, and the source is eggs: Hebei Cangzhou [3]. - **Hogs (LH)**: The main contract basis rate is 12.90%, with a decrease of -1.62% compared to yesterday. The current month and next month basis are 1000 and -455 respectively. The spot price is 12600, and the source is external ternary hogs: Henan [3]. - **Soft Commodities** - **Cotton (CF)**: The main contract basis rate is 9.13%, with a decrease of -1.13% compared to yesterday. The current month, next month, and the month after next basis are 1337, 1207, and 797 respectively. The spot price is 15987, and the source is the cotton price index 328: Xinjiang [3]. - **Sugar (SR)**: The main contract basis rate is 3.74%, with an increase of 0.80% compared to yesterday. The current month, next month, and the month after next basis are 193, 183, and 80 respectively. The spot price is 5360, and the source is white sugar: Liuzhou [3]. Chemicals - **Methanol (MA)**: The main contract basis rate is -0.31%, with a decrease of -0.11% compared to yesterday. The current month basis is -86. The spot price is 2240 [3]. - **Ethanol (EG)**: The main contract basis rate is -2.1%, with no change (0.00%) compared to yesterday. The current month, next month, and the month after next basis are -102, -208, and -296 respectively. The spot price is 3665, and the source is ethanol: East China [3]. - **PTA (TA)**: The main contract basis rate is -1.07%, with an increase of 0.15% compared to yesterday. The current month, next month, and the month after next basis are -55, -57, and -13 respectively. The spot price is 2005, and the source is PTA: East China [3]. - **Ethylene (EB)**: The main contract basis rate is 1.55%, with a decrease of -1.63% compared to yesterday. The current month, next month, and the month after next basis are 208, 415, and 480 respectively. The spot price is 7572 [3]. - **Short - fiber (PF)**: The main contract basis rate is 1.23%, with a decrease of -0.25% compared to yesterday. The current month basis is 20 [3]. - **Rubber (RU)**: The main contract basis rate is -1.13%, with a decrease of -1.23% compared to yesterday [3]. - **Asphalt (BU)**: The main contract basis rate is -1.18%, with a decrease of -0.60% compared to yesterday. The current month, next month, and the month after next basis are -54, -35, and 53 respectively. The spot price is 3250 [3]. - **Low - Sulfur Fuel Oil (LU)**: The main contract basis rate is -4.61%, with an increase of 2.60% compared to yesterday. The current month and next month basis are 94 and 85 respectively. The spot price is 3250 [3]. - **Polypropylene (PP)**: The main contract basis rate is 1.78%, with a decrease of -0.24% compared to yesterday. The current month, next month, and the month after next basis are 120, 93, and 144 respectively. The spot price is 6920, and the source is the market price of Hangzhou Shaoxing Sanyuan T30S [3]. - **Soda Ash (SA)**: The main contract basis rate is -3.6%, with an increase of 0.16% compared to yesterday. The current month, next month, and the month after next basis are -136, -38, and -102 respectively. The spot price is 1163, and the source is the market price of heavy - quality soda ash in Shahe [3]. - **Urea (UR)**: The main contract basis rate is 0.00%, with an increase of 0.95% compared to yesterday. The current month, next month, and the month after next basis are 0, 34, and 40 respectively. The spot price is 1770, and the source is small - particle urea: Henan [3]. - **LPG (PG)**: The main contract basis rate is 15.59%, with a decrease of -1.08% compared to yesterday. The current month, next month, and the month after next basis are 483, 813, and 688 respectively. The spot price is 4848, and the source is the market price in Guangzhou [3]. Financial Futures - **CSI 300 (IF)**: The main contract basis rate is 0.15%, with a decrease of -0.47% compared to yesterday. The current month, next month, and the month after next basis are 2.5, 7.1, and 35.1 respectively. The spot price is 4660.1 [3]. - **SSE 50 (IH)**: The main contract basis rate is 0.05%, with an increase of 0.09% compared to yesterday. The current month basis is 1.6. The spot price is 3034.6 [

Report Industry Investment Rating No relevant information provided. Core Viewpoints - Glass should be treated with an oscillating and slightly bullish mindset, with the glass index ranging from 1010 - 1160 [7] - For纯碱, a strategy of short - selling on rallies is recommended, with the纯碱 index ranging from 1120 - 1270 [9] Summary by Related Catalogs Glass Price - As of January 30, the market price of 5mm float glass in North China was 1080 yuan/ton, a month - on - month increase of 60 yuan/ton compared to the end of December; in Central China, it was 1020 yuan/ton, a month - on - month increase of 20 yuan/ton. The glass prices in mainstream markets are running strongly [13] Supply - After the cold - repair, the float glass production in January decreased, but new production lines were ignited in the second half of the month. The current supply decline has improved the supply - demand pattern, supporting prices. Future supply changes depend on price impacts on cold - repair expectations [19] Demand - Real estate completion in December 2025 was still at a low level year - on - year, and the sales situation improved but was still at a low level. Automobile production and sales in December 2025 both decreased month - on - month. The year - end rush - to - work demand weakened month - on - month. Although the glass supply decline stimulated mid - and downstream restocking demand in January, the post - holiday apparent demand is expected to be weak due to high mid - stream inventory and limited demand recovery [23][26][30] Inventory - In January, the glass factory inventory decreased, and the mid - stream inventory continued to rise. During the Spring Festival holiday, the glass factory inventory will increase, and the high mid - stream inventory will have a negative impact on post - holiday spot prices and suppress speculative demand [34] Profit and Cost - The glass costs using natural gas, coal, and petroleum coke as fuels changed little, and the glass profits of the three production methods showed mixed trends. The profit of glass using natural gas as fuel increased from - 186.4 yuan/ton to - 155.12 yuan/ton; that using coal decreased from - 21.88 yuan/ton to - 68.5 yuan/ton; and that using petroleum coke increased from - 7.21 yuan/ton to 1.07 yuan/ton [38] Basis and Spread - As of January 30, the glass 05 basis was - 36, a month - on - month increase of 51 compared to the end of December; the 5 - 9 contract spread was - 111, a month - on - month decrease of 7. The spot price was strong, the futures price was volatile, the basis strengthened, and the spread weakened. The current basis is at a low level in the same period over the years, and the market is optimistic about the supply - demand pattern of the far - month contracts [42] 纯碱 Price - As of December 31, the market price of light soda ash in Qinghai was 880 yuan/ton, a month - on - month decrease of 10 yuan/ton; the market price of heavy soda ash was 1164 yuan/ton, a month - on - month increase of 42 yuan/ton. The mainstream market light soda ash price is running weakly, and the heavy soda ash price is running strongly [48] Supply - In January, after the alkali plant maintenance ended, the production of soda ash returned to a high level, and new production capacity will be put into operation in the first quarter of this year, with long - term supply pressure. The current high supply has a strong downward driving force on prices. The impact of price on alkali plant maintenance willingness needs to be focused on, and the production in February is expected to remain at a high level [52] Demand - In January, the production of float glass and photovoltaic glass decreased, and the demand for heavy soda ash weakened, while the demand for light soda ash was relatively stable. In February, the impact of float glass price on supply needs to be noted. The low price of soda ash increased the consumption of soda ash by glass factories, which has a certain positive impact on demand [58] Import and Export - In December 2025, the import volume of soda ash was 3473 tons, a month - on - month increase of 3221 tons; the export volume was 232,800 tons, a month - on - month increase of 43,400 tons. Domestic supply - demand is loose, and exports are expected to remain at a high level, alleviating the inventory pressure of alkali plants [62] Inventory - Before the festival, downstream restocking and increased soda ash consumption per ton of glass led to a small increase in alkali plant inventory. In February, with high supply, the alkali plant inventory is expected to further accumulate, putting downward pressure on prices [65] Cost - In January, the cost of soda ash remained stable. The supply concentration of alkali plants is high, and the cost support of the light soda ash联产 method in East China is around 1210 yuan/ton [69] Profit - The price of soda ash was strong, the cost was stable, and the profit of alkali plants was weak. The light soda ash gross profit of the ammonia - soda process in North China decreased from - 57.4 yuan/ton to - 100.35 yuan/ton, and the heavy soda ash gross profit decreased from - 137.4 yuan/ton to - 160.35 yuan/ton. The light soda ash gross profit of the 联碱 method in East China decreased from - 28.5 yuan/ton to - 34.5 yuan/ton, and the heavy soda ash gross profit decreased from - 88.5 yuan/ton to - 94.5 yuan/ton [72] Basis and Spread - As of January 30, the 05 contract basis of soda ash was - 40, a month - on - month increase of 47 compared to the end of December; the 5 - 9 contract spread was - 62, a month - on - month increase of 3. The spot price was strong, the futures price was volatile, the basis and spread strengthened. The current basis is at a low level in the same period over the years, and the market is optimistic about the supply - demand pattern of the far - month contracts [76]

1. Report Industry Investment Rating No relevant information provided. 2. Core Views of the Report For Soybean Meal - The overall supply and demand of soybean meal are loose, with pre - holiday supply and demand remaining stable and potential risk disturbances after the holiday. The CBOT soybean futures price rebound is limited, and the market will trade repeatedly between the expectations of supply tightening and South American bumper harvest. The soybean meal 05 contract is expected to trade in the range of 2700 - 2860 [6]. For Rapeseed Meal - The rapeseed meal market continues to be in a situation of weak supply and demand. The market is greatly affected by news related to imported rapeseed supply. The rapeseed meal 05 contract will return to the trading range of 2200 - 2430. Attention should be paid to the development of China - Canada trade relations [50]. 3. Summary by Related Catalogs Soybean Meal International Situation - The new US bio - diesel policy boosts soybean oil demand, increasing the expected soybean crushing volume in the US and supporting the US soybean futures price. Brazil's soybean production is raised, and it has entered the harvest season with a high probability of a bumper harvest, which restricts the rebound of futures prices. South American soybeans are about to enter the peak shipping season, and there may be selling pressure on CNF premiums. The future trading focus of the US soybean futures lies in the implementation progress of US soybean demand and the final confirmation of South American production. The planting area of new - crop US soybeans may shrink [6]. - According to the USDA's January supply - demand report, the global and US soybean ending stocks are expected to increase, with the US soybean production slightly up, exports down, and crushing up. The annual average price is expected to decrease [7][8]. - The ratio of US soybean to corn has decreased, which may reduce the planting area of new - crop US soybeans. The February US Agricultural Outlook Forum and the March planting intention report will provide more guidance [12]. Domestic Supply and Demand - Due to the price advantage, China's demand for imported soybeans mainly comes from South America. The CNF premium of Brazilian soybeans has rebounded. The US Department of Agriculture predicts that Brazil's soybean production and exports will increase in the 2025/26 season. Although China has adjusted tariff measures, commercial purchases of US soybeans are still difficult, and mainly policy - based purchases are carried out [14][17][19]. - The inventory of imported soybeans at ports is decreasing, and long - term purchases are being carried out gradually. The procurement progress of different shipment months in 2026 varies [26][29]. - The operating rate of oil mills has declined slightly, but the crushing volume is still higher than the same period last year. In January 2026, the national oil mill soybean crushing volume decreased from the previous month but increased year - on - year [30][33]. - Before the holiday, downstream replenishment continued, leading to a reduction in oil mill soybean meal inventory, which supported the spot price and basis. In January, the inventory of national oil mill soybean meal decreased slightly, and the year - on - year increase continued to expand [34][36]. Basis and Spreads - The basis of the soybean meal 05 contract is 290 yuan/ton, and the 5 - 9 contract spread is - 102 yuan/ton [41]. Rapeseed Meal International Situation - The ICE rapeseed futures price first fell and then rose last month. The new US bio - diesel policy boosted soybean oil demand, driving up the vegetable oil market. The improvement of China - Canada economic and trade relations, with China expected to reduce tariffs on Canadian rapeseed products, led to an increase in rapeseed futures prices. The settlement price of the rapeseed futures main contract increased by 6.43% month - on - month [49]. - Statistics Canada raised the forecast of new - crop rapeseed production in 2025 to a record 21.8 million tons, higher than market expectations [53]. Domestic Supply and Demand - The improvement of China - Canada economic and trade relations is expected to improve the supply structure of rapeseed products. Chinese oil mills' rapeseed and rapeseed meal inventories are at a low level. Due to the low - season of winter aquaculture, the demand for rapeseed meal feed is small, and oil mills have stopped operating. The market is still in a situation of weak supply and demand. The rapeseed meal price is expected to repair the price difference between soybean meal and rapeseed meal after a decline, which may trigger protein substitution demand [49]. - There are no new purchases of imported Canadian rapeseed, and the rapeseed inventory of oil mills is at a low level. The arrival volume of rapeseed at major oil mills in February is about 120,000 tons, and the rapeseed inventory of oil mills in the 5th week is 58,000 tons [62][63]. - Rapeseed crushing plants have basically stopped operating. In the 5th week, the operating rate of rapeseed crushing plants is about 0%, and the rapeseed meal output is 120 tons [67]. - In the off - season of demand, the downstream trading volume of rapeseed meal is small, and the提货 volume is at a low level compared with the same period last year. In the 5th week, the 提货 volume of coastal rapeseed meal is 200 tons, and the spot trading volume of the rapeseed meal market is 7000 tons [68][70]. - Oil mills' rapeseed meal inventory is zero, and the inventory of granular rapeseed meal at ports is continuously decreasing. In the 5th week, the oil mill rapeseed meal inventory is 1000 tons, the granular rapeseed meal inventory is 121,000 tons, and the consumption is 20,000 tons [72][74]. Basis and Spreads - The basis of the rapeseed meal 05 contract is 264 yuan/ton, and the 5 - 9 contract spread is - 21 yuan/ton [80]. Spread Summary - The soybean oil - meal ratio is 2.94, and the spread between the main contracts of soybean meal and rapeseed meal is 474 yuan/ton [84].

Report Summary 1. Report Industry Investment Rating - There is no information about industry investment rating in the provided content. 2. Core Viewpoints - There are no explicit core viewpoints stated in the given text. The document is mainly a futures basis statistics table. 3. Summary by Related Categories Metals - **Copper**: The spot price is 106,950, the主力基差率 is -2.85%, and the current basis is -2765 [3]. - **Aluminum**: The spot price is 25,550, the主力基差率 is -2.47%, and the current basis is -630 [3]. - **Zinc**: The spot price is 25,765, the主力基差率 is -1.48%, and the current basis is -475 [3]. - **Lead**: The spot price is 17,195, the主力基差率 is -2.04%, and the current basis is -235 [3]. - **Tin**: The spot price is 446,630, the主力基差率 is -1.62%, and the current basis is -8030 [3]. - **Nickel**: The spot price is 148,000, the主力基差率 is 1.55%, and the current basis is 2800 [3]. - **Industrial Silicon**: The spot price is 9,250, the主力基差率 is 4.17%, and the current basis is 430 [3]. - **Lithium Carbonate**: The spot price is 166,140, the主力基差率 is -0.63%, and the current basis is 50 [3]. - **Gold**: The spot price is 1252.10, the主力基差率 is -0.46%, and the current basis is -8.70 [3]. - **Silver**: The spot price is 32,060, the主力基差率 is -2.89%, and the current basis is -2062 [3]. Black Industry - **Iron Ore**: The spot price is 835.7, the主力基差率 is 4.65%, and the current basis is 37.2 [3]. - **Coke**: The spot price is 1876.5, the主力基差率 is -6.85%, and the current basis is -271.5 [3]. - **Coking Coal**: The spot price is 1419.5, the主力基差率 is 1.98%, and the current basis is 22.5 [3]. - **Power Coal**: The spot price is 801.4, the主力基差率 is 0.25%, and the current basis is -103.4 [3]. - **Ferrosilicon**: The spot price is 5,820, the主力基差率 is -1.8%, and the current basis is -458 [3]. - **Silicomanganese**: The spot price is 6,036, the主力基差率 is -1.61%, and the current basis is -56 [3]. - **Stainless Steel**: The spot price is 14,975, the主力基差率 is -0.48%, and the current basis is -195 [3]. Agricultural Products - **Soybeans**: The spot price is 4,466, the主力基差率 is -1.29%, and the current basis is -360 [3]. - **Soybean Meal**: The spot price is 3,080, the主力基差率 is 9.92%, and the current basis is 147 [3]. - **Rapeseed Meal**: The spot price is 2,490, the主力基差率 is 7.10%, and the current basis is 238 [3]. - **Soybean Oil**: The spot price is 8,900, the主力基差率 is 6.18%, and the current basis is 518 [3]. - **Rapeseed Oil**: The spot price is 10,170, the主力基差率 is 7.66%, and the current basis is 793 [3]. - **Peanuts**: The spot price is 9,100, the主力基差率 is 12.48%, and the current basis is 7978 [3]. - **Palm Oil**: The spot price is 9,362, the主力基差率 is -0.02%, and the current basis is 66 [3]. - **Corn**: The spot price is 2,335, the主力基差率 is 2.37%, and the current basis is 30 [3]. - **Corn Starch**: The spot price is 2,620, the主力基差率 is 2.96%, and the current basis is -10 [3]. - **Apples**: The spot price is 9,642, the主力基差率 is 13.92%, and the current basis is -126 [3]. - **Eggs**: The spot price is 4,050, the主力基差率 is 34.06%, and the current basis is 192 [3]. - **Hogs**: The spot price is 13,345, the主力基差率 is 13.80%, and the current basis is -388 [3]. - **Cotton**: The spot price is 16,103, the主力基差率 is 8.00%, and the current basis is 1193 [3]. Chemicals - **Sugar**: The spot price is 5,370, the主力基差率 is 2.15%, and the current basis is 101 [3]. - **Methanol**: The spot price is 2,407, the主力基差率 is -1.79%, and the current basis is -66 [3]. - **Ethylene Glycol**: The spot price is 4,118, the主力基差率 is -2.83%, and the current basis is -112 [3]. - **PTA**: The spot price is 5,294, the主力基差率 is -1.07%, and the current basis is -57 [3]. - **Polypropylene**: The spot price is 6,902, the主力基差率 is -1.85%, and the current basis is -20 [3]. - **Styrene**: The spot price is 8,050, the主力基差率 is 1.78%, and the current basis is 256 [3]. - **Short - fiber Polyester**: The spot price is 6,850, the主力基差率 is 0.41%, and the current basis is -60 [3]. - **Linear Low - density Polyethylene**: The spot price is 7,116, the主力基差率 is -0.27%, and the current basis is -19 [3]. - **PVC**: The spot price is 5,114, the主力基差率 is -3.8%, and the current basis is -299 [3]. - **Rubber**: The spot price is 17,205, the主力基差率 is -2.4%, and the current basis is -905 [3]. - **20 -号 Rubber**: The spot price is 13,892, the主力基差率 is 3.25%, and the current basis is 37 [3]. - **Soda Ash**: The spot price is 1,308, the主力基差率 is -3.27%, and the current basis is -40 [3]. - **Urea**: The spot price is 1,817, the主力基差率 is -0.42%, and the current basis is -18 [3]. - **Pulp**: The spot price is 5,610, the主力基差率 is 0.92%, and the current basis is -173 [3]. Energy - **Crude Oil**: The spot price is 482.6, the主力基差率 is -4.88%, and the current basis is -29.0 [3]. - **Fuel Oil**: The spot price is 3,69, the主力基差率 is 6.78%, and the current basis is 296 [3]. - **Asphalt**: The spot price is 3,465, the主力基差率 is -1.84%, and the current basis is -255 [3]. - **Low - sulfur Fuel Oil**: The spot price is 3,326, the主力基差率 is -0.38%, and the current basis is 6 [3]. - **LPG**: The spot price is 4,848, the主力基差率 is -1.61%, and the current basis is 11.50 [3]. Stock Index - **CSI 300**: The spot price is 4,784.0, the主力基差率 is -0.63%, and the current basis is -17.7 [3]. - **SSE 50**: The spot price is 3,132.6, the主力基差率 is -0.32%, and the current basis is -19.5 [3]. - **CSI 500**: The spot price is 8,531.2, the主力基差率 is 0.00%, and the current basis is 0.2 [3].

Report Industry Investment Rating - Not provided in the report Core Viewpoints - Not provided in the report Summary by Related Catalogs Metals - **Copper**: The spot price is 100,200, with a主力基差率 of -0.36%, and the spot price source is SMM 1 electrolytic copper [3]. - **Aluminum**: The主力基差率 is -0.85%, and the spot price source is SMM A00 aluminum [3]. - **Zinc**: The主力基差率 is 0.06%, and the spot price source is SMM 0 zinc [3]. - **Lead**: The主力基差率 is -1.17%, and the spot price source is SMM 1 lead [3]. - **Tin**: The主力基差率 is -1.6%, and the spot price source is SMM 1 tin [3]. - **Nickel**: The主力基差率 is 2.85%, and the spot price source is SMM 1 electrolytic nickel [3]. - **Industrial Silicon**: The主力基差率 is 5.90%, and the spot price source is SMM annual throughput 553 silicon [3]. Precious Metals - **Gold**: The主力基差率 is -2.97%, and the price is related to AuT+D on the Shanghai Gold Exchange [3]. - **Silver**: The主力基差率 is 0.42%, and the price is related to Ag(T+D) on the Shanghai Gold Exchange [3]. Ferrous Metals - **Rebar**: The主力基差率 is 4.59%, and the spot price is for HRB400:20mm in Shanghai [3]. - **Hot Rolled Coil**: The主力基差率 is -1.10%, and the spot price is for Q235B:4.75mm in Shanghai [3]. - **Iron Ore**: The主力基差率 is 6.87%, and the spot price is for PB powder:61% in Qingdao [3]. - **Coke**: The主力基差率 is -5.35%, and the spot price is for quasi - first - grade metallurgical coke [3]. - **Coking Coal**: The主力基差率 is 5.18%, and the spot price is for main coking coal: clean coal: Mongolian No.5 [3]. Energy - **Power Coal**: The主力基差率 is -13.40%, and the spot price is for Shanxi Q500 in Qinhuangdao [3]. - **Crude Oil**: The主力基差率 is 0.71%, and the spot price is for Chinese Shengli in the Pacific Rim [3]. - **Fuel Oil**: The主力基差率 is 0.17%, and the spot price is for bonded marine fuel oil 380CST in Zhoushan [3]. - **Liquefied Petroleum Gas (LPG)**: The主力基差率 is 19.14%, and the spot price is the market price in Guangzhou [3]. Chemicals - **Silicon Ferrosilicon**: The主力基差率 is -5.5%, and the spot price is for FeSi75 - B in Inner Mongolia [3]. - **Silicon Manganese**: The主力基差率 is 1.97%, and the spot price is for FeMn68Si18 in Hebei [3]. - **Stainless Steel**: The主力基差率 is -0.82%, and the spot price is for 304/2B:2.0*1219 from Angang Lianzhong in Wuxi [3]. - **Glass**: The主力基差率 is -2.7%, and the spot price is the North China 5mm float market price [3]. - **Methanol**: The主力基差率 is 1.40%, and the spot price is for methanol in East China [3]. - **Ethanol**: The主力基差率 is -2.95%, and the spot price is for ethanol in East China [3]. - **PTA**: The主力基差率 is -1.34%, and the spot price is for PTA in East China [3]. - **Polypropylene**: The主力基差率 is 5.63%, and the spot price is the market price of Hangzhou Shaoxing Sanyuan T30S [3]. - **Styrene**: The主力基差率 is 3.24%, and the spot price is for styrene in East China [3]. - **Polyester Staple Fiber**: The主力基差率 is 0.37%, and the spot price is for Fangxiang semi - bright pure white 1.56*38mm polyester [3]. - **Plastic**: The主力基差率 is 2.01%, and the spot price is the market price of Yuyao Zhejiang Petrochemical 7042 [3]. - **PVC**: The主力基差率 is -4.07%, and the spot price is the mainstream price of East China SG - 5 Xinjiang Zhongtai [3]. - **Rubber**: The主力基差率 is -2.19%, and the spot price is for Thai - produced rubber in Qingdao Free Trade Zone [3]. - **No. 20 Rubber**: The主力基差率 is 4.34%, and the spot price is for Thai 20 standard rubber in Qingdao Free Trade Zone [3]. - **Soda Ash**: The主力基差率 is -3.0%, and the spot price is the market price of heavy - grade soda ash in Shahe [3]. - **Urea**: The主力基差率 is -0.78%, and the spot price is for small - particle urea in Henan [3]. Agricultural Products - **Soybeans**: The主力基差率 is 0.57%, and the spot price is for first - grade domestic soybeans in Harbin [3]. - **Soybean Meal**: The主力基差率 is 12.29%, and the spot price is for ordinary protein soybean meal in Zhangjiagang [3]. - **Rapeseed Meal**: The主力基差率 is 8.62%, and the spot price is for ordinary rapeseed meal in Nantong [3]. - **Edible Oils and Oilseeds** - **Soybean Oil**: The主力基差率 is 6.66%, and the spot price is for first - grade soybean oil in Zhangjiagang [3]. - **Rapeseed Oil**: The主力基差率 is 8.75%, and the spot price is for rapeseed oil in Jiangsu [3]. - **Peanut Oil**: The主力基差率 is -0.59%, and the spot price is for peanuts in Changtu [3]. - **Palm Oil**: The主力基差率 is 0.20%, and the spot price is for 24 - degree palm oil in Guangdong [3]. - **Corn**: The主力基差率 is 2.06%, and the spot price is for first - grade national standard corn at Qiyuquan Port [3]. - **Corn Starch**: The主力基差率 is 0.74%, and the spot price is the ex - factory price of corn starch in Changchun [3]. Soft Commodities - **Apples**: The主力基差率 is -9.22%, and the spot price is related to apples in Yantai Qixia and Shaanxi Luochuan [3]. - **Eggs**: The主力基差率 is 21.91%, and the spot price is for eggs in Hebei Cangzhou [3]. - **Hogs**: The主力基差率 is 14.21%, and the spot price is for one - yuan hogs in Henan [3]. - **Cotton**: The主力基差率 is 8.83%, and the spot price is the cotton price index 328 in Xinjiang [3]. - **Sugar**: The主力基差率 is 4.00%, and the spot price is for white sugar in Liuzhou [3]. Financial Futures - **CSI 300 Index Futures (IF)**: The主力基差率 is 0.01% [3]. - **SSE 50 Index Futures (IH)**: The主力基差率 is -0.21% [3]. - **CSI 500 Index Futures (IC)**: The主力基差率 is -0.36% [3].

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core View - Not provided in the given content 3. Summary by Related Catalog Metals and Minerals - Copper (CU) has a 0.29% 主力基差率, up 0.30% from yesterday, with a 当月基差 of 330, 次月基差 of 290, and 再次月基差 of 70 [3] - Aluminum (AL) has a -0.42% 主力基差率, up 0.22% from yesterday, with a 当月基差 of -45, 次月基差 of -100, and 再次月基差 of -160 [3] - Zinc (ZN) has a -0.12% 主力基差率, up 0.38% from yesterday, with a 当月基差 of 30, 次月基差 of -30, and 再次月基差 of -65 [3] - Lead (PB) has a -1.35% 主力基差率, up 0.32% from yesterday, with a 当月基差 of -170, 次月基差 of -235, and 再次月基差 of -275 [3] - Tin (SN) has a 0.71% 主力基差率, up 0.76% from yesterday, with a 当月基差 of 2730, 次月基差 of 2730, and 再次月基差 of 2670 [3] - Industrial Silicon (NI) has a 3.59% 主力基差率, up 0.14% from yesterday, with a 当月基差 of 2020, 次月基差 of 4860, and 再次月基差 of 4650 [3] - Lithium Carbonate (LC) has a -1.35% 主力基差率, up 0.93% from yesterday, with a 当月基差 of -590, 次月基差 of -1470, and 再次月基差 of -1570 [3] - Gold (AU) has a -0.34% 主力基差率, down -0.2B% from yesterday, with a 当月基差 of -3.61, 次月基差 of -6.53, and 再次月基差 of -8.73 [3] - Silver (AG) has a -0.23% 主力基差率, down -0.93% from yesterday, with a 当月基差 of -104, 次月基差 of -53, and 再次月基差 of -25 [3] Black Industry - Rebar (RB) has a 4.46% 主力基差率, down -0.51% from yesterday, with a 当月基差 of 140, 次月基差 of 92 [3] - Hot Rolled Coil (HC) has a -1.18% 主力基差率, down -1.63% from yesterday, with a 当月基差 of -39, 次月基差 of -59, and 再次月基差 of -84 [3] - Iron Ore has an 8.14% 主力基差率, up 1.32% from yesterday, with a 当月基差 of 64.6, 次月基差 of 82.1, and 再次月基差 of 96.1 [3] - Coke has a -6.4% 主力基差率, down -0.22% from yesterday, with a 当月基差 of -116.0, 次月基差 of -193.5, and 再次月基差 of -276.5 [3] - Coking Coal (JIM) has a 1.11% 主力基差率, up 6.96% from yesterday, with a 当月基差 of 13.0, 次月基差 of -66.5, and 再次月基差 of -227.0 [3] - Thermal Coal (ZC) has a 12.55% 主力基差率, down -0.50% from yesterday, with a 当月基差 of -101.4, 次月基差 of -101.4, and 再次月基差 of -101.4 [3] - Ferrosilicon (SF) has a -4.7% 主力基差率, up 0.20% from yesterday, with a 当月基差 of -236, 次月基差 of -328, and 再次月基差 of -426 [3] - Manganese Silicon (SM) has a 1.93% 主力基差率, up 2.92% from yesterday, with a 当月基差 of 72, 次月基差 of 30, and 再次月基差 of -40 [3] - Stainless Steel has a -0.03% 主力基差率, down -0.91% from yesterday, with a 当月基差 of -20, 次月基差 of -125, and 再次月基差 of -310 [3] Agricultural and Sideline Products - Glass (FG) has a -4.67% 主力基差率, up 2.85% from yesterday, with a 当月基差 of -50, 次月基差 of -160, and 再次月基差 of -214 [3] - Soybean (A) has a -5.1% 主力基差率, up 0.07% from yesterday, with a 当月基差 of -221, 次月基差 of -252, and 再次月基差 of -280 [3] - Soybean Meal (M) has a 12.94% 主力基差率, unchanged from yesterday, with a 当月基差 of 353, 次月基差 of 232, and 再次月基差 of 183 [3] - Rapeseed Meal (RM) has an 8.06% 主力基差率, down -1.47% from yesterday, with a 当月基差 of 179, 次月基差 of 113, and 再次月基差 of 183 [3] - Soybean Oil (V) has a 6.93% 主力基差率, up 0.27% from yesterday, with a 当月基差 of 554, 次月基差 of 674, and 再次月基差 of [3] - Rapeseed Oil (Ol) has a 9.53% 主力基差率, up 0.84% from yesterday, with a 当月基差 of 848, 次月基差 of 827, and 再次月基差 of 899 [3] - Peanut (PK) has a 16.60% 主力基差率, up 0.38% from yesterday, with a 当月基差 of 1358, 次月基差 of 994, and 再次月基差 of 1028 [3] - Palm Oil (P) has a 0.60% 主力基差率, up 0.30% from yesterday, with a 当月基差 of 55, 次月基差 of 78, and 再次月基差 of 62 [3] - Corn (C) has a 2.37% 主力基差率, unchanged from yesterday, with a 当月基差 of 63, 次月基差 of 42, and 再次月基差 of 94 [3] - Corn Starch (CS) has a 0.59% 主力基差率, unchanged from yesterday, with a 当月基差 of -20, 次月基差 of -50, and 再次月基差 of -3 [3] - Apple (AP) has a -8.51% 主力基差率, up 1.88% from yesterday, with a 当月基差 of -795, 次月基差 of 454, and 再次月基差 of 514 [3] - Egg (JD) has a 22.39% 主力基差率, up 5.21% from yesterday, with a 当月基差 of 184, 次月基差 of -248 [3] - Live Pig (LH) has a 14.48% 主力基差率, up 4.71% from yesterday, with a 当月基差 of 1455, 次月基差 of -30, and 再次月基差 of 1260 [3] Soft Commodities and Chemicals - Cotton (CF) has a 9.18% 主力基差率, down -0.01% from yesterday, with a 当月基差 of 1335, 次月基差 of 1170, and 再次月基差 of 740 [3] - Sugar (SR) has a 2.78% 主力基差率, up 0.27% from yesterday, with a 当月基差 of 146, 次月基差 of 130, and 再次月基差 of 50 [3] - Methanol (MA) has a 0.59% 主力基差率, up 0.10% from yesterday, with a 当月基差 of 13, 次月基差 of -11, and 再次月基差 of -58 [3] - Ethanol (EG) has a -3.20% 主力基差率, up 0.39% from yesterday, with a 当月基差 of -120, 次月基差 of -228, and 再次月基差 of 21 [3] - PTA (TA) has a -0.89% 主力基差率, up 0.26% from yesterday, with a 当月基差 of -45, 次月基差 of -3, and 再次月基差 of 21 [3] - Polypropylene (PP) has a 5.68% 主力基差率, up 0.23% from yesterday, with a 当月基差 of 368, 次月基差 of 335, and 再次月基差 of 354 [3] - Styrene (EB) has a 1.30% 主力基差率, down -0.26% from yesterday, with a 当月基差 of 212, 次月基差 of 396 [3] - Short Fiber has a 0.97% 主力基差率, down -0.2B% from yesterday, with a 当月基差 of -30, 次月基差 of -128 [3] - Plastic (L) has a 4.24% 主力基差率, down -1.36% from yesterday, with a 当月基差 of 283, 次月基差 of 259, and 再次月基差 of 230 [3] - PVC (V) has a -4.9% 主力基差率, down -0.53% from yesterday, with a 当月基差 of -201, 次月基差 of -316, and 再次月基差 of -411 [3] - Rubber (RU) has a -0.29% 主力基差率, up 0.57% from yesterday, with a 当月基差 of -45, 次月基差 of -5, and 再次月基差 of -640 [3] - 20 - Rubber (NR) has a 4.55% 主力基差率, up 0.37% from yesterday, with a 当月基差 of 480, 次月基差 of 375, and 再次月基差 of 215 [3] - Soda Ash (SA) has a -4.9% 主力基差率, unchanged from yesterday, with a 当月基差 of -50, 次月基差 of -111, and 再次月基差 of -154 [3] - Urea (UR) has a -1.24% 主力基差率, up 0.49% from yesterday, with a 当月基差 of -22, 次月基差 of 4, and 再次月基差 of 1 [3] - Pulp (SP) has a 2.85% 主力基差率, down -0.70% from yesterday, with a 当月基差 of 153, 次月基差 of 115, and 再次月基差 of -21 [3] Energy and Chemicals - Crude Oil (SC) has a -5.5% 主力基差率, down -0.23% from yesterday, with a 当月基差 of -28.8, 次月基差 of -33.4, and 再次月基差 of -37.6 [3] - Fuel Oil (FU) has a 5.08% 主力基差率, down -0.75% from yesterday, with a 当月基差 of 141, 次月基差 of 167, and 再次月基差 of 189 [3] - Asphalt (BU) has a -1.97% 主力基差率, down -0.70% from yesterday, with a 当月基差 of -78, 次月基差 of -59, and 再次月基差 of -12 [3] - Low - Sulfur Fuel Oil (LU) has a 1.15% 主力基差率, down -0.52% from yesterday, with a 当月基差 of 43, 次月基差 of 22, and 再次月基差 of -41 [3] - LPG (PG) has a 22.14% 主力基差率, up 0.12% from yesterday, with a 当月基差 of 729, 次月基差 of 1055, and 再次月基差 of 743 [3] Stock Index Futures - CSI 300 (IF) has a 0.12% 主力基差率, down -0.05% from yesterday, with a 当月基差 of 1.7, 次月基差 of 5.9, and 再次月基差 of 45.7 [3] - SSE 50 (IH) has a -0.05% 主力基差率, up 0.10% from yesterday, with a 当月基差 of -0.5, 次月基差 of -1.7, and 再次月基差 of 2.1 [3] - CSI 500 (IC) has a 0.27% 主力基差率, down -0.01% from yesterday, with a 当月基差 of 6.1, 次月基差 of 21.9, and 再次月基差 of 139.9 [3]

1. Report Industry Investment Rating No information provided in the content. 2. Report Core Views Glass - Supply: Last week, two production lines underwent cold repairs, leading to a continued decline in glass output. With current profit pressures on glass factories and high inventories, the intensity of cold repairs has increased. Future focus should be on glass supply. Last week, float glass production was 1.0592 million tons (-14,100 tons), and the national float glass operating rate was 71.95% (-1.08%) [5][14]. - Demand: Year - end rush - order demand has weakened month - on - month, and sales pressure is evident in the northern regions. The weak real - estate market restricts significant upward potential for glass demand, and the number of downstream deep - processing order days remains weak year - on - year. Seasonally, there is end - of - year restocking demand from downstream, which requires future attention. Overall, glass demand will continue to face pressure near the year - end, and attention should be paid to changes in speculative demand. On January 4th, the number of downstream deep - processing order days was 8.6 days (-1.1 days), and last week's float glass weekly apparent demand was 22.5329 million weight boxes (-690,600 weight boxes) [5][18]. - Inventory: Affected by cold repairs, the restocking意愿 of the mid - and downstream has increased. Last week, mid - stream inventory increased, and upstream inventory decreased. With cold repairs implemented, the glass supply - demand pattern has improved. It is advisable to adopt a slightly bullish trading strategy, with the glass index expected to range between 1080 - 1180. Last week, the total inventory of the national float glass sample enterprises was 55.518 million weight boxes (-1.348 million weight boxes); Hubei's in - factory inventory was 5.375 million weight boxes (-205,000 weight boxes); Shahe's in - factory inventory was 2.6136 million weight boxes (-952,800 weight boxes); and Shahe's trader inventory was 5.08 million weight boxes (+720,000 weight boxes) [5][22]. - Cost and profit: Last week, glass costs fluctuated, and profits also showed mixed trends. The weekly average cost of float glass using natural gas as fuel was 1342 yuan/ton (-2 yuan/ton); the weekly average cost of float glass using coal - made gas as fuel was 1037 yuan/ton (+2 yuan/ton); the weekly average cost of float glass using petroleum coke as fuel was 1047 yuan/ton (-17 yuan/ton). The weekly average profit of float glass using natural gas as fuel was - 186.4 yuan/ton (+5 yuan/ton); the weekly average profit of float glass using coal - made gas as fuel was - 73.83 yuan/ton (-8.6 yuan/ton); the weekly average profit of float glass using petroleum coke as fuel was - 5.78 yuan/ton (-18.58 yuan/ton) [30][33]. - Key events to watch: Glass output, glass factory inventory, and glass spot prices [5]. 纯碱 - Supply: Last week, the soda ash price strengthened, and the resumption of alkali plant maintenance was rapid, with supply rising month - on - month to a high level. Against the backdrop of new capacity coming on - stream, long - term supply pressure is significant. Spot prices have a great impact on alkali plant maintenance intentions. If prices weaken in the future, alkali plants may start maintenance. Future focus should be on supply. Last week, soda ash production was 753,600 tons (+56,500 tons), including light soda ash production of 349,100 tons (+23,000 tons) and heavy soda ash production of 404,500 tons (+33,500 tons) [6][47]. - Demand: Photovoltaic glass output and float glass output both declined month - on - month. With the price decline of float glass, the expectation of cold repairs has increased, putting pressure on the soda ash demand side. Overall, there is an expectation of weakening demand for heavy soda ash, while the demand for light soda ash is relatively stable. Last week, the daily output of float and photovoltaic glass was 238,225 tons (-1770 tons), and the weekly apparent demand for soda ash was 589,200 tons (-138,100 tons) [6][53]. - Inventory: Last week, soda ash inventory increased month - on - month. The strengthening of prices inhibited mid - and downstream purchases, and combined with the recovery of supply, alkali plant inventory accumulation was obvious last week. In the long term, with the expectation of new capacity coming on - stream, alkali plants face significant inventory accumulation pressure. It is advisable to adopt a bearish trading strategy when prices are high, while controlling risks. The soda ash index is expected to range between 1170 - 1280. Last week, the total inventory of soda ash manufacturers was 1.5727 million tons (+164,400 tons), including light soda ash inventory of 836,500 tons (+104,300 tons) and heavy soda ash inventory of 736,200 tons (+60,100 tons) [6][57]. - Cost and profit: According to Steel Union data, last week, soda ash costs increased, and profits fluctuated. In North China, the cost of heavy soda ash using the ammonia - soda process was 1395.85 yuan/ton (+8.45 yuan/ton), and the cost of light soda ash using the ammonia - soda process was 1307.85 yuan/ton (+0.45 yuan/ton); in East China, the cost of heavy soda ash using the combined - soda process was 1288 yuan/ton (+4.5 yuan/ton), and the cost of light soda ash using the combined - soda process was 1208 yuan/ton (+4.5 yuan/ton) [61][65]. - Key events to watch: Alkali plant maintenance, alkali plant inventory accumulation, and glass output [6]. 3. Summary by Relevant Catalogs Glass Price - As of January 9th, the market price of 5mm float glass in North China was 1020 yuan/ton, a week - on - week increase of 20 yuan/ton; the market price of 5mm float glass in Central China was 1040 yuan/ton, a week - on - week increase of 20 yuan/ton. The glass price in the mainstream market was running strongly [10]. Supply - Last week, two production lines underwent cold repairs, and glass output continued to decline. With current weak profits of glass factories and high inventories, the intensity of cold repairs has increased. Future focus should be on glass supply. Last week, float glass production was 1.0592 million tons (-14,100 tons), and the national float glass operating rate was 71.95% (-1.08%) [14]. Demand - Year - end rush - order demand has weakened month - on - month, and sales pressure is evident in the northern regions. The weak real - estate market restricts significant upward potential for glass demand, and the number of downstream deep - processing order days remains weak year - on - year. Seasonally, there is end - of - year restocking demand from downstream, which requires future attention. Overall, glass demand will continue to face pressure near the year - end, and attention should be paid to changes in speculative demand. On January 4th, the number of downstream deep - processing order days was 8.6 days (-1.1 days), and last week's float glass weekly apparent demand was 22.5329 million weight boxes (-690,600 weight boxes) [18]. Inventory - Affected by cold repairs, the restocking意愿 of the mid - and downstream has increased. Last week, mid - stream inventory increased, and upstream inventory decreased. Last week, the total inventory of the national float glass sample enterprises was 55.518 million weight boxes (-1.348 million weight boxes); Hubei's in - factory inventory was 5.375 million weight boxes (-205,000 weight boxes); Shahe's in - factory inventory was 2.6136 million weight boxes (-952,800 weight boxes); and Shahe's trader inventory was 5.08 million weight boxes (+720,000 weight boxes). In North China, overall inventory decreased, but there was significant differentiation. In Shahe, production enterprises had good sales and significant inventory reduction, driving down the overall inventory in North China, while the surrounding areas had mediocre sales. In Central China, production and sales varied, with the second half of the week showing better production and sales than the first half, and overall inventory decreased compared to the previous period. Last week, the end - of - period inventory of glass factories in East China was 11.425 million weight boxes (-44,600 weight boxes); in North China, it was 9.3296 million weight boxes (-816,800 weight boxes); in Southwest China, it was 11.468 million weight boxes (-232,000 weight boxes); in Central China, it was 6.565 million weight boxes (-185,000 weight boxes) [22][26]. Cost and profit - Last week, glass costs fluctuated, and profits also showed mixed trends. The weekly average cost of float glass using natural gas as fuel was 1342 yuan/ton (-2 yuan/ton); the weekly average cost of float glass using coal - made gas as fuel was 1037 yuan/ton (+2 yuan/ton); the weekly average cost of float glass using petroleum coke as fuel was 1047 yuan/ton (-17 yuan/ton). The weekly average profit of float glass using natural gas as fuel was - 186.4 yuan/ton (+5 yuan/ton); the weekly average profit of float glass using coal - made gas as fuel was - 73.83 yuan/ton (-8.6 yuan/ton); the weekly average profit of float glass using petroleum coke as fuel was - 5.78 yuan/ton (-18.58 yuan/ton) [30][33]. Basis and spread - As of January 9th, the basis of the glass 01 contract was - 124, a week - on - week decrease of 37; the spread between the glass 5 - 9 contracts was - 94, a week - on - week decrease of 10. The glass spot price weakened, and the futures price fluctuated, resulting in a weaker basis and a weaker spread. Currently, the basis level is at a low level compared to the same period in previous years, mainly due to the deterioration of the spot supply - demand pattern compared to the past. The glass spread shows a contango structure, indicating a relatively pessimistic market outlook for the near - term contracts [37]. Soda Ash Price - As of January 9th, the market price of light soda ash in Qinghai was 890 yuan/ton, unchanged week - on - week; the market price of heavy soda ash in Qinghai was 1188 yuan/ton, a week - on - week increase of 66 yuan/ton. The price of light soda ash in the mainstream market remained stable, while the price of heavy soda ash was running strongly [43]. Supply - Last week, the soda ash price strengthened, and the resumption of alkali plant maintenance was rapid, with supply rising month - on - month to a high level. Against the backdrop of new capacity coming on - stream, long - term supply pressure is significant. Spot prices have a great impact on alkali plant maintenance intentions. If prices weaken in the future, alkali plants may start maintenance. Future focus should be on supply. Last week, soda ash production was 753,600 tons (+56,500 tons), including light soda ash production of 349,100 tons (+23,000 tons) and heavy soda ash production of 404,500 tons (+33,500 tons) [47]. Demand - Photovoltaic glass output and float glass output both declined month - on - month. With the price decline of float glass, the expectation of cold repairs has increased, putting pressure on the soda ash demand side. Overall, there is an expectation of weakening demand for heavy soda ash, while the demand for light soda ash is relatively stable. Last week, the daily output of float and photovoltaic glass was 238,225 tons (-1770 tons) [53]. Inventory - Last week, soda ash inventory increased month - on - month. The strengthening of prices inhibited mid - and downstream purchases, and combined with the recovery of supply, alkali plant inventory accumulation was obvious last week. In the long term, with the expectation of new capacity coming on - stream, alkali plants face significant inventory accumulation pressure. Last week, the total inventory of soda ash manufacturers was 1.5727 million tons (+164,400 tons), including light soda ash inventory of 836,500 tons (+104,300 tons) and heavy soda ash inventory of 736,200 tons (+60,100 tons) [57]. Cost and profit - According to Steel Union data, last week, soda ash costs increased, and profits fluctuated. In North China, the cost of heavy soda ash using the ammonia - soda process was 1395.85 yuan/ton (+8.45 yuan/ton), and the cost of light soda ash using the ammonia - soda process was 1307.85 yuan/ton (+0.45 yuan/ton); in East China, the cost of heavy soda ash using the combined - soda process was 1288 yuan/ton (+4.5 yuan/ton), and the cost of light soda ash using the combined - soda process was 1208 yuan/ton (+4.5 yuan/ton) [61][65]. Basis and spread - As of January 9th, the basis of the soda ash 05 contract was - 40, a week - on - week increase of 37; the spread between the soda ash 5 - 9 contracts was - 67, a week - on - week decrease of 2. The soda ash spot price increased significantly, while the futures price declined after rising, resulting in a stronger basis and a weaker spread. Currently, the basis is at a low level compared to the same period in previous years, mainly due to the deterioration of the spot supply - demand pattern compared to the past. The high inventory of alkali plants exerts some pressure on the spot price. The different - month spreads of soda ash show a contango structure, indicating a relatively pessimistic market outlook for the near - term contract supply - demand pattern [69].

Report Summary 1. Report Industry Investment Rating There is no information about the industry investment rating in the provided content. 2. Report's Core View The report presents a detailed table of Maike Futures' basis statistics on January 16, 2026, covering various futures products across different sectors such as non - ferrous metals, precious metals, industrial products, agricultural products, and financial futures, including their basis rates, changes compared to the previous day, and basis values for different contract months [3]. 3. Summary by Related Catalogs Non - Ferrous Metals - Copper (CU): The main contract basis rate is - 0.51%, a decrease of 0.26% from the previous day. The spot price is 102,575, and the price of the main contract is 102,730 [3]. - Aluminum (AL): The main contract basis rate is - 1.12%, a decrease of 0.82% from the previous day. The spot price is 24,190, and the price of the main contract is 24,380 [3]. - Zinc (ZN): The main contract basis rate is 1.54%, an increase of 1.62% from the previous day. The spot price is 25,410, and the price of the main contract is 24,935 [3]. - Lead (PB): The main contract basis rate is - 1.31%, a decrease of 0.22% from the previous day. The spot price is 17,325, and the price of the main contract is 17,475 [3]. - Tin (SN): The main contract basis rate is - 1.62%, a decrease of 3.04% from the previous day. The spot price is 426,000, and the price of the main contract is 433,000 [3]. - Nickel (NI): The main contract basis rate is 1.92%, a decrease of 1.95% from the previous day. The spot price is 150,050, and the price of the main contract is 147,230 [3]. - Industrial Silicon: The main contract basis rate is 6.32%, a decrease of 0.12% from the previous day. The spot price is 9,250, and the price of the main contract is 8,630 [3]. - Lithium Carbonate (LC): The main contract basis rate is 2732%, an increase of 2.08% from the previous day. The spot price is 116,750, and the price of the main contract is 159,960 [3]. Precious Metals - Gold (AU): The main contract basis rate is - 0.12%, an increase of 0.17% from the previous day. The spot price is 1033.92, and the price of the main contract is 1035.20 [3]. - Silver (AG): The main contract basis rate is 0.08%, an increase of 0.08% from the previous day. The spot price is 22,684, and the price of the main contract is 22,713 [3]. Industrial Products - Rebar (RB): The main contract basis rate is 3.48%, a decrease of 0.57% from the previous day. The spot price is 3,270, and the price of the main contract is 3,160 [3]. - Hot - Rolled Coil (HC): The main contract basis rate is - 0.51%, an increase of 1.18% from the previous day. The spot price is 3,290, and the price of the main contract is 3,307 [3]. - Iron Ore: The main contract basis rate is 7.49%, an increase of 1.05% from the previous day. The spot price is 873.9, and the price of the main contract is 813.0 [3]. - Coke and Coking Coal (JIM): The main contract basis rates are - 7.45% and - 7.16% respectively, with changes of - 0.35% and 0.70% from the previous day [3]. - Steam Coal (ZC): The main contract basis rate is - 11.90%, with no change from the previous day. The spot price is 706.0, and the price of the main contract is 801.4 [3]. - Ferrosilicon (SF): The main contract basis rate is - 5.35%, an increase of 1.33% from the previous day. The spot price is 5,310, and the price of the main contract is 5,600 (estimated from basis formula) [3]. - Silicomanganese (SM): The main contract basis rate is - 1.70%, an increase of 0.83% from the previous day. The spot price is 5,770, and the price of the main contract is 5,898 [3]. - Stainless Steel: The main contract basis rate is - 0.10%, a decrease of 0.28% from the previous day. The spot price is 14,400, and the price of the main contract is 14,440 [3]. - Glass (FG): The main contract basis rate is - 6.08%, an increase of 0.86% from the previous day. The spot price is 1,020, and the price of the main contract is 1,086 [3]. Agricultural Products - Soybean (A): The main contract basis rate is - 7.69%, a decrease of 0.21% from the previous day. The spot price is 4,000, and the price of the main contract is 4,333 [3]. - Soybean Meal (M): The main contract basis rate is 12.77%, an increase of 0.45% from the previous day. The spot price is 3,090, and the price of the main contract is 2,740 [3]. - Rapeseed Meal (RM): The main contract basis rate is 8.19%, a decrease of 0.59% from the previous day. The spot price is 2,470, and the price of the main contract is 2,283 [3]. - Vegetable Oils and Oilseeds: For soybean oil (V Ol), the main contract basis rate is 7.08%, an increase of 0.20% from the previous day; for rapeseed oil, the main contract basis rate is 8.74%, a decrease of 0.21% from the previous day [3]. - Peanut (PK): The main contract basis rate is 16.13%, an increase of 0.12% from the previous day. The spot price is 9,100, and the price of the main contract is 7,800 [3]. - Palm Oil (b): The main contract basis rate is 0.84%, a decrease of 0.33% from the previous day. The spot price is 8,650, and the price of the main contract is 8,578 [3]. - Corn (C): The main contract basis rate is 1.53%, a decrease of 1.25% from the previous day. The spot price is 2,330, and the price of the main contract is 2,283 [3]. - Corn Starch (CS): The main contract basis rate is 0.19%, a decrease of 0.87% from the previous day. The spot price is 2,570, and the price of the main contract is 2,597 [3]. - Apple (AP): The main contract basis rate is - 12.82%, an increase of 1.11% from the previous day. The spot price is 8,220, and the price of the main contract is 9,807 [3]. - Egg (JD): The main contract basis rate is 14.16%, a decrease of 2.24% from the previous day. The spot price is 3,500, and the price of the main contract is 3,584 [3]. - Live Pig (LH): The main contract basis rate is 9.21%, an increase of 0.96% from the previous day. The spot price is 13,050, and the price of the main contract is 12,210 [3]. - Cotton (CF): The main contract basis rate is 8.84%, an increase of 1.01% from the previous day. The spot price is 15,972, and the price of the main contract is 14,675 [3]. - Sugar (SR): The main contract basis rate is 2.08%, an increase of 0.37% from the previous day. The spot price is 5,390, and the price of the main contract is 5,280 [3]. Chemicals - Methanol (MA): The main contract basis rate is - 0.35%, with no change from the previous day. The spot price is 2,265, and the price of the main contract is 2,273 [3]. - Ethanol (EG): The main contract basis rate is - 3.72%, an increase of 0.08% from the previous day. The spot price is 3,675, and the price of the main contract is 3,817 [3]. - PTA (TA): The main contract basis rate is - 0.95%, a decrease of 0.05% from the previous day. The spot price is 5,000, and the price of the main contract is 5,048 [3]. - Polypropylene (PP): The main contract basis rate is 3.91%, a decrease of 0.03% from the previous day. The spot price is 6,920, and the price of the main contract is 6,595 [3]. - Styrene (EB): The main contract basis rate is 1.86%, an increase of 0.19% from the previous day. The spot price is 7,235, and the price of the main contract is 7,181 [3]. - Short - Fiber (PF): The main contract basis rate is 2.28%, an increase of 1.20% from the previous day. The spot price is 6,540, and the price of the main contract is 6,460 [3]. - Plastic: The main contract basis rate is 4.94%, an increase of 1.86% from the previous day. The spot price is 7,120, and the price of the main contract is 6,785 [3]. - PVC (V): The main contract basis rate is - 3.66%, an increase of 0.20% from the previous day. The spot price is 4,690, and the price of the main contract is 4,868 [3]. - Rubber (RU): The main contract basis rate is - 2.16%, a decrease of 0.24% from the previous day. The spot price is 15,650, and the price of the main contract is 15,995 [3]. - 20 -号 Rubber (NR): The main contract basis rate is 4.16%, an increase of 0.48% from the previous day. The spot price is 13,385, and the price of the main contract is 12,940 [3]. - Soda Ash (SA): The main contract basis rate is - 4.19%, an increase of 0.72% from the previous day. The spot price is 1,143, and the price of the main contract is 1,193 [3]. - Urea (UR): The main contract basis rate is - 2.28%, an increase of 1.25% from the previous day. The spot price is 1,760, and the price of the main contract is 1,801 [3]. - Pulp (SP): The main contract basis rate is 2.37%, an increase of 1.08% from the previous day. The spot price is 5,565, and the price of the main contract is 5,436 [3]. Energy Chemicals - Crude Oil (SC): The main contract basis rate is - 4.87%, an increase of 0.10% from the previous day. The spot price is 423.2, and the price of the main contract is 448.4 [3]. - Fuel Oil (FU): The main contract basis rate is 3.79%, a decrease of 0.03% from the previous day. The spot price is 2,684, and the price of the main contract is 2,566 [3]. - Asphalt (BU): The main contract basis rate is - 2.12%, an increase of 0.03% from the previous day. The spot price is 3,100, and the price of the main contract is 3,174 [3]. - Low - Sulfur Fuel Oil (LU): The main contract basis rate is 0.60%, an increase of 1.90% from the previous day. The spot price is 3,106, and the price of the main contract is 3,074 [3]. - LPG (PG): The main contract basis rate is 19.25%, a decrease of 0.23% from the previous day. The spot price is 5,048, and the price of the main contract is 4,355 [3]. Financial Futures - CSI 300 (IF): The main contract basis rate is 0.10%, an increase of 0.06% from the previous day. The spot price is 4,751.4, and the price of the main contract is 4,752.0 [3]. - SSE 50 (IH): The main contract basis rate is - 0.08%, a decrease of 0.02% from the previous day. The spot price is 3,105.6, and the price of the main contract is 3,104.6 [3]. - CSI 500 (IC): The main contract basis rate is 0.20%, a decrease of 0.16% from the previous day. The spot price is 8,223.3, and the price of the main contract is 8,217.4 [3].

1. Report Industry Investment Rating - No relevant content provided 2. Core View of the Report - No core view is presented in the report. It mainly provides a base difference statistics table for various commodities. 3. Summary According to the Commodities Non - ferrous Metals - Copper: The main contract base difference rate is - 0.51%, a decrease of - 0.26% from yesterday, with a current spot price of 102,575 [3]. - Aluminum: The main contract base difference rate is - 1.12%, a decrease of - 0.82% from yesterday, and the spot price is 24,190 [3]. - Zinc: The main contract base difference rate is 1.54%, an increase of 1.62% from yesterday, and the spot price is 25,410 [3]. - Lead: The main contract base difference rate is - 1.31%, a decrease of - 0.22% from yesterday, and the spot price is 17,325 [3]. - Tin: The main contract base difference rate is - 1.62%, a decrease of - 3.04% from yesterday, and the spot price is 426,000 [3]. - Nickel: The main contract base difference rate is 1.92%, a decrease of - 1.95% from yesterday, and the spot price is 150,050 [3]. - Industrial Silicon: The main contract base difference rate is 6.32%, a decrease of - 0.12% from yesterday, and the spot price is 9,250 [3]. - Lithium Carbonate: The main contract base difference rate is 2,732%, an increase of 2.08% from yesterday, and the spot price is 116,750 [3]. Precious Metals - Gold: The main contract base difference rate is - 0.12%, an increase of 0.17% from yesterday, and the spot price is 1,033.92 [3]. - Silver: The main contract base difference rate is 0.08%, an increase of 0.08% from yesterday, and the spot price is 22,684 [3]. Ferrous Metals and Related Products - Rebar: The main contract base difference rate is 3.48%, a decrease of - 0.57% from yesterday, and the spot price is 3,270 [3]. - Hot - rolled Coil: The main contract base difference rate is - 0.51%, an increase of 1.18% from yesterday, and the spot price is 3,290 [3]. - Iron Ore: The main contract base difference rate is 7.49%, an increase of 1.05% from yesterday, and the spot price is 873.9 [3]. - Coke and Coking Coal: Coke's main contract base difference rate is - 7.45%, a decrease of - 0.35% from yesterday, and the spot price is 1,615; coking coal's main contract base difference rate is - 7.16%, an increase of 0.70% from yesterday, and the spot price is 1,102.5 [3]. - Steam Coal: The main contract base difference rate is - 11.90%, unchanged from yesterday, and the spot price is 706.0 [3]. - Ferrosilicon: The main contract base difference rate is - 5.35%, an increase of 1.33% from yesterday, and the spot price is 5,310 [3]. - Manganese Silicon: The main contract base difference rate is - 1.70%, an increase of 0.83% from yesterday, and the spot price is 5,770 [3]. - Stainless Steel: The main contract base difference rate is - 0.10%, a decrease of - 0.28% from yesterday, and the spot price is 14,400 [3]. - Glass: The main contract base difference rate is - 6.08%, an increase of 0.86% from yesterday, and the spot price is 1,020 [3]. Grains, Oils and Oilseeds - Soybeans: The main contract base difference rate is - 7.69%, a decrease of - 0.21% from yesterday, and the spot price is 4,000 [3]. - Soybean Meal: The main contract base difference rate is 12.77%, an increase of 0.45% from yesterday, and the spot price is 3,090 [3]. - Rapeseed Meal: The main contract base difference rate is 8.19%, a decrease of - 0.59% from yesterday, and the spot price is 2,470 [3]. - Edible Oils: The main contract base difference rate of first - grade soybean oil is 7.08%, an increase of 0.20% from yesterday, and the spot price is 8,500; the main contract base difference rate of rapeseed oil is 8.74%, a decrease of - 0.21% from yesterday, and the spot price is 9,600 [3]. - Peanuts: The main contract base difference rate is 16.13%, an increase of 0.12% from yesterday, and the spot price is 9,100 [3]. - Palm Oil: The main contract base difference rate is 0.84%, a decrease of - 0.33% from yesterday, and the spot price is 8,650 [3]. - Corn: The main contract base difference rate is 1.53%, a decrease of - 1.25% from yesterday, and the spot price is 2,330 [3]. - Corn Starch: The main contract base difference rate is 0.19%, a decrease of - 0.87% from yesterday, and the spot price is 2,570 [3]. Agricultural and Sideline Products - Apples: The main contract base difference rate is - 12.82%, an increase of 1.11% from yesterday, and the spot price is 8,220 [3]. - Eggs: The main contract base difference rate is 14.16%, a decrease of - 2.24% from yesterday, and the spot price is 3,500 [3]. - Pigs: The main contract base difference rate is 9.21%, an increase of 0.96% from yesterday, and the spot price is 13,050 [3]. - Cotton: The main contract base difference rate is 8.84%, an increase of 1.01% from yesterday, and the spot price is 15,972 [3]. Soft Commodities - Sugar: The main contract base difference rate is 2.08%, an increase of 0.37% from yesterday, and the spot price is 5,390 [3]. Chemicals - Methanol: The main contract base difference rate is - 0.35%, unchanged from yesterday, and the spot price is 2,265 [3]. - Ethanol: The main contract base difference rate is - 3.72%, an increase of 0.08% from yesterday, and the spot price is 3,675 [3]. - PTA: The main contract base difference rate is - 0.95%, a decrease of - 0.05% from yesterday, and the spot price is 5,000 [3]. - Polypropylene: The main contract base difference rate is 3.91%, a decrease of - 0.03% from yesterday, and the spot price is 6,520 [3]. - Styrene: The main contract base difference rate is 1.86%, an increase of 0.19% from yesterday, and the spot price is 7,235 [3]. - Short - fiber: The main contract base difference rate is 2.28%, an increase of 1.20% from yesterday, and the spot price is 6,540 [3]. - Plastic: The main contract base difference rate is 4.94%, an increase of 1.86% from yesterday, and the spot price is 7,120 [3]. - PVC: The main contract base difference rate is - 3.66%, an increase of 0.20% from yesterday, and the spot price is 4,690 [3]. - Rubber: The main contract base difference rate is - 2.16%, a decrease of - 0.24% from yesterday, and the spot price is 15,650 [3]. - 20 - grade Rubber: The main contract base difference rate is 4.16%, an increase of 0.48% from yesterday, and the spot price is 13,385 [3]. - Soda Ash: The main contract base difference rate is - 4.19%, an increase of 0.72% from yesterday, and the spot price is 1,143 [3]. - Urea: The main contract base difference rate is - 2.28%, an increase of 1.25% from yesterday, and the spot price is 1,760 [3]. - Pulp: The main contract base difference rate is 2.37%, an increase of 1.08% from yesterday, and the spot price is 5,565 [3]. Energy and Chemicals - Crude Oil: The main contract base difference rate is - 4.87%, an increase of 0.10% from yesterday, and the spot price is 423.2 [3]. - Fuel Oil: The main contract base difference rate is 3.79%, a decrease of - 0.03% from yesterday, and the spot price is 2,684 [3]. - Asphalt: The main contract base difference rate is - 2.12%, an increase of 0.03% from yesterday, and the spot price is 3,100 [3]. - Low - sulfur Fuel Oil: The main contract base difference rate is 0.60%, an increase of 1.90% from yesterday, and the spot price is 3,106 [3]. - LPG: The main contract base difference rate is 19.25%, a decrease of - 0.23% from yesterday, and the spot price is 5,048 [3]. Stock Index Futures - CSI 300: The main contract base difference rate is 0.10%, an increase of 0.06% from yesterday, and the spot price is 4,751.4 [3]. - SSE 50: The main contract base difference rate is - 0.08%, a decrease of - 0.02% from yesterday, and the spot price is 3,105.6 [3]. - CSI 500: The main contract base difference rate is 0.20%, a decrease of - 0.16% from yesterday, and the spot price is 8,223.3 [3].

1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints of the Report - No relevant content provided 3. Summary by Categories Metals - Copper: The spot price is 103,235, the主力基差率 is 0.47%, and the change from yesterday is 255 [3] - Aluminum: The spot price is 24,630, the主力基差率 is -1.00%, and the change from yesterday is -180 [3] - Zinc: The spot price is 24,115, the主力基差率 is 0.46%, and the change from yesterday is not provided [3] - Lead: The spot price is 17,490, the主力基差率 is -0.98%, and the change from yesterday is -170 [3] - Tin: The spot price is 368,550, the主力基差率 is 1.16%, and the change from yesterday is not provided [3] - Nickel: The spot price is 146,850, the主力基差率 is 3.72%, and the change from yesterday is not provided [3] - Industrial Silicon: The spot price is 9,250, the主力基差率 is 5.35%, and the change from yesterday is not provided [3] - Gold: The spot price is 1031.26, the主力基差率 is -0.41%, and the change from yesterday is -6.78 [3] - Silver: The spot price is 20,957, the主力基差率 is -0.35%, and the change from yesterday is -52 [3] Black Industry - Rebar: The spot price is 3,330, the主力基差率 is 5.21%, and the change from yesterday is 197 [3] - Hot Rolled Coil: The spot price is 3,330, the主力基差率 is -1.24%, and the change from yesterday is -30 [3] - Iron Ore: The spot price is 873.9, the主力基差率 is 6.25%, and the change from yesterday is 6.6 [3] - Coke: The spot price is 1,844.0, the主力基差率 is -7.63%, and the change from yesterday is -209.0 [3] - Coking Coal: The spot price is 1,310.5, the主力基差率 is -10.95%, and the change from yesterday is -135.5 [3] - Power Coal: The spot price is 801.4, the主力基差率 is -12.5%, and the change from yesterday is -97.4 [3] - Silicon Iron: The spot price is 5,736, the主力基差率 is -6.81%, and the change from yesterday is -186 [3] - Manganese Silicon: The spot price is 5,942, the主力基差率 is -2.70%, and the change from yesterday is -228 [3] - Stainless Steel: The spot price is 14,125, the主力基差率 is 0.32%, and the change from yesterday is -22 [3] Agricultural Products - Soybean: The spot price is 4,356, the主力基差率 is -8.17%, and the change from yesterday is -356 [3] - Soybean Meal: The spot price is 3,100, the主力基差率 is 11.11%, and the change from yesterday is 214 [3] - Rapeseed Meal: The spot price is 2,770, the主力基差率 is 7.73%, and the change from yesterday is -260 [3] - Edible Oil: - Soybean Oil: The spot price is 8,490, the主力基差率 is 6.20%, and the change from yesterday is 626 [3] - Palm Oil: The spot price is 8,650, the主力基差率 is -0.85%, and the change from yesterday is -74 [3] - Rapeseed Oil: The spot price is 9,700, the主力基差率 is 8.02%, and the change from yesterday is 720 [3] - Peanut: The spot price is 9,380, the主力基差率 is 16.93%, and the change from yesterday is 920 [3] - Corn: The spot price is 2,325, the主力基差率 is 1.53%, and the change from yesterday is 46 [3] - Corn Starch: The spot price is 2,626, the主力基差率 is -1.22%, and the change from yesterday is -26 [3] - Apple: The spot price is 9,978, the主力基差率 is -11.2%, and the change from yesterday is -1428 [3] - Egg: The spot price is 3,962, the主力基差率 is 12.58%, and the change from yesterday is -562 [3] - Live Pig: The spot price is 12,900, the主力基差率 is 9.93%, and the change from yesterday is -830 [3] - Cotton: The spot price is 15,857, the主力基差率 is -0.13%, and the change from yesterday is 1147 [3] - Sugar: The spot price is 5,390, the主力基差率 is 1.99%, and the change from yesterday is 74 [3] Chemicals - Ethanol: The spot price is 3,984, the主力基差率 is -3.99%, and the change from yesterday is 60 [3] - PTA: The spot price is 5,142, the主力基差率 is -0.82%, and the change from yesterday is 6 [3] - Polypropylene: The spot price is 6,607, the主力基差率 is -0.74%, and the change from yesterday is 243 [3] - Styrene: The spot price is 7,183, the主力基差率 is 1.36%, and the change from yesterday is 30 [3] - Short - fiber: The spot price is 6,564, the主力基差率 is 1.20%, and the change from yesterday is 16 [3] - Plastic: The spot price is 6,772, the主力基差率 is -0.21%, and the change from yesterday is 344 [3] - PVC: The spot price is 4,940, the主力基差率 is -5.67%, and the change from yesterday is -390 [3] - Rubber: The spot price is 16,130, the主力基差率 is -2.67%, and the change from yesterday is -430 [3] - 20 -号胶: The spot price is 13,195, the主力基差率 is 2.94%, and the change from yesterday is 198 [3] - Soda Ash: The spot price is 1,302, the主力基差率 is -4.04%, and the change from yesterday is -50 [3] - Urea: The spot price is 1,783, the主力基差率 is -0.89%, and the change from yesterday is 48 [3] - Pulp: The spot price is 5,578, the主力基差率 is 1.59%, and the change from yesterday is 88 [3] Energy - Crude Oil: The spot price is 445.7, the主力基差率 is -6.43%, and the change from yesterday is -36.3 [3] - Fuel Oil: The spot price is 2,602, the主力基差率 is 1.56%, and the change from yesterday is 137 [3] - Asphalt: The spot price is 3,162, the主力基差率 is -2.44%, and the change from yesterday is -82 [3] - Low - sulfur Fuel Oil: The spot price is 3,050, the主力基差率 is -1.46%, and the change from yesterday is -106 [3] - LPG: The spot price is 4,908, the主力基差率 is 0.69%, and the change from yesterday is 630 [3] Index - CSI 300: The spot price is 4,789.9, the主力基差率 is 0.01%, and the change from yesterday is 0.5 [3] - SSE 50: The spot price is 3,143.7, the主力基差率 is 0.11%, and the change from yesterday is 1.9 [3] - CSI 500: The spot price is 8,273.8, the主力基差率 is -0.08%, and the change from yesterday is -24.7 [3]