光期黑色：铁矿石基差及价差监测日报-20250424

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints No clear core viewpoints are presented in the given content. It mainly provides data on iron ore futures contracts, basis, and variety spreads. 3. Summary by Relevant Catalogs 3.1 Futures Contracts and Spreads - The closing prices of I05, I09, and I01 contracts on April 24, 2025, were 776.0, 727.5, and 698.5 respectively, with changes of 10.5, 16.5, and 14.0 compared to the previous day [2]. - The spreads of I05 - I09, I09 - I01, and I01 - I05 were 48.5, 29.0, and -77.5 respectively, with changes of -6.0, 2.5, and 3.5 compared to the previous day [2]. 3.2 Basis - The basis data of various iron ore varieties on April 24, 2025, are presented, showing changes compared to the previous day. For example, the basis of Carajás fines decreased by 17 to 87, and the basis of PB fines decreased by 11 to 92 [4]. 3.3 Adjustment of Deliverable Brands - Four new deliverable varieties (Benxi concentrate, IOC6, KUMBA, and Ukrainian concentrate) were added, with brand premiums of 0, effective from the I2202 contract [10]. - The brand premiums of existing varieties were adjusted, with only PB fines, BRBF, and Carajás fines having a brand premium of 15 yuan/ton, and the rest being 0 [10]. - The allowable ranges of iron grade and other elements were adjusted, and a dynamic adjustment mechanism for the premium of iron element was introduced [10]. - Four more brands (Taigang concentrate, Magang concentrate, Minmetals standard fines, and SP10 fines) were added as deliverable brands, with brand premiums of 0 [10]. - The adjusted deliverable brands and their premiums apply to contracts I2312 and later [11]. 3.4 Variety Spreads - The variety spreads of different iron ore products on April 24, 2025, are provided, showing changes compared to the previous day. For example, the spread of PB lump - PB fines remained unchanged at 132.0, while the spread of PB fines - FMG mixed fines decreased by 9.0 to 88.0 [12].