光期黑色：铁矿石基差及价差监测日报-20250707

Report Overview - Report Title: Light Period Black: Iron Ore Basis and Spread Monitoring Daily Report - Report Date: July 7, 2025 Core Views - The report provides daily monitoring data on iron ore futures contract prices, spreads, and basis, as well as information on contract adjustments and a research team introduction [3][6][24] Summary by Section Futures Contract Prices and Spreads - I05 closed at 689.5 yuan/ton, up 0.5 yuan from the previous day; I09 closed at 732.5 yuan/ton, down 0.5 yuan; I01 remained unchanged at 707.0 yuan/ton [3] - The I05 - I09 spread was -43.0 yuan/ton, up 1.0 yuan; the I09 - I01 spread was 25.5 yuan/ton, down 0.5 yuan; the I01 - I05 spread was 17.5 yuan/ton, down 0.5 yuan [3] Basis Data - For various iron ore varieties, the basis and its changes are presented, such as the basis of Carajás fines (KRF) being 37 yuan/ton, unchanged from the previous day [6] Chart - Charts show the basis trends of different types of iron ore, including Brazilian powder ore, Australian medium - grade powder ore, etc. [8] Contract Adjustments - Newly added 4 deliverable varieties (Benxi Iron Concentrate, IOC6, KUMBA, Ukrainian Iron Concentrate) with brand premiums of 0 for the I2202 contract and later [11] - Adjusted brand premiums for existing varieties, with only PB fines, BRBF, and Carajás fines having a brand premium of 15 yuan/ton [11] - Modified quality differences and premiums for substitutes, including adjusting the allowable range of iron grade and other elements, and introducing a dynamic adjustment mechanism for iron element premium [11] - Added 4 new deliverable brands (Taigang Iron Concentrate, Magang Iron Concentrate, Minmetals Standard Fines, SP10 Fines) with brand premiums of 0 yuan/ton [11] Variety Spreads Data - Presented the spreads between different iron ore varieties, such as the PB lump - PB fines spread being 148.0 yuan/ton, unchanged from the previous day [13] Charts - Multiple charts illustrate the spread trends between different iron ore varieties, including block - powder spreads, high - medium grade powder ore spreads, etc. [15][17][19] Research Team Introduction - The black research team includes Qiu Yuecheng, Zhang Xiaojin, Liu Xi, and Zhang Chunjie, each with rich experience and professional qualifications in the field [24]