宝城期货品种套利数据日报-20250512

Report Summary 1. Report Industry Investment Rating No investment rating information was provided in the report. 2. Core View The report is a daily data report on commodity arbitrage from Baocheng Futures on May 12, 2025, presenting the basis, spreads, and other data of various commodities including thermal coal, energy chemicals, black metals, non - ferrous metals, agricultural products, and stock index futures, helping investors understand market conditions. 3. Summary by Category 3.1 Thermal Coal - Basis data from April 30 to May 9, 2025, showed a continuous decline in the basis, reaching - 171.4 yuan/ton on May 9 [2]. - Spreads such as 5 - 1, 9 - 1, and 9 - 5 were all 0 during the period [2]. 3.2 Energy and Chemicals 3.2.1 Energy Commodities - For INE crude oil, the basis on May 9 was - 35.58 yuan/ton; for fuel oil, the ratio was 0.1369, and the basis was 33.60 yuan/ton [6]. 3.2.2 Chemical Commodities - Basis data for various chemicals from April 30 to May 9, 2025, showed fluctuations. For example, the basis of natural rubber on May 9 was - 20 yuan/ton [9]. - Spread data included information on different months (5 - 1, 9 - 1, 9 - 5) for various chemicals, such as the 5 - 1 spread of natural rubber being - 1065 yuan/ton [9]. - Cross - commodity spread data, like LLDPE - PVC being 2191 yuan/ton on May 9 [9]. 3.3 Black Metals - Basis data from April 30 to May 9, 2025, for black metals such as rebar, iron ore, coke, and coking coal showed changes. For example, the basis of rebar on May 9 was 128.0 yuan/ton [14]. - Spread data included different months for rebar (5 - 1, 10 - 1, 10 - 5) and other black metals (5 - 1, 9 - 1, 9 - 5) [14]. - Cross - commodity data such as the ratio of rebar to iron ore being 4.34 on May 9 [14]. 3.4 Non - Ferrous Metals 3.4.1 Domestic Market - Basis data from April 30 to May 9, 2025, for domestic non - ferrous metals like copper, aluminum, zinc, etc., showed fluctuations. For example, the basis of copper on May 9 was 930 yuan/ton [22]. 3.4.2 London Market - Data on LME non - ferrous metals on May 9, 2025, included LME spreads, Shanghai - London ratios, CIF prices, domestic spot prices, and import profit and loss. For example, the LME spread of copper was 49.19, and the Shanghai - London ratio was 8.28 [28]. 3.5 Agricultural Products - Basis data from April 30 to May 9, 2025, for agricultural products such as soybeans, corn, etc., showed changes. For example, the basis of soybean No. 1 on May 9 was - 213 yuan/ton [37]. - Spread data included different months (5 - 1, 9 - 1, 9 - 5) for various agricultural products, such as the 5 - 1 spread of soybean No. 1 being 26 yuan/ton [35]. - Cross - commodity data such as the ratio of soybean No. 1 to corn being 1.75 on May 9 [35]. 3.6 Stock Index Futures - Basis data from April 30 to May 9, 2025, for stock index futures including CSI 300, SSE 50, CSI 500, and CSI 1000 showed fluctuations. For example, the basis of CSI 300 on May 9 was 37.56 [45]. - Spread data for different months (next month - current month, current quarter - current month, etc.) for various stock index futures, such as the next month - current month spread of CSI 300 being - 33.2 [45].