光期黑色：铁矿石基差及价差监测日报-20250709

Group 1: Report Overview - Report Title: "Light Period Black: Iron Ore Basis and Spread Monitoring Daily Report" [1] - Report Date: July 9, 2025 [1] Group 2: Futures Contract Price and Spread - Price Changes: I05 closed at 689.5 yuan/ton, up 2.0 yuan from the previous day; I09 closed at 733.0 yuan/ton, up 2.0 yuan; I01 closed at 707.0 yuan/ton, up 3.0 yuan [3]. - Spread Changes: The spread of I05 - I09 remained unchanged at -43.5 yuan/ton; I09 - I01 decreased by 1.0 yuan to 26.0 yuan/ton; I01 - I05 increased by 1.0 yuan to 17.5 yuan/ton [3]. Group 3: Basis Data - Price and Basis Changes: Various iron ore varieties showed different price and basis changes. For example, the price of Carajás fines (卡粉) increased by 2.0 yuan to 815 yuan/ton, with the basis remaining unchanged at 34 yuan; the price of Macarthur River fines (麦克粉) increased by 3.0 yuan to 708 yuan/ton, and the basis increased by 1 yuan to 30 yuan [6]. Group 4: Variety Spread - Spread Changes: Many variety spreads changed. For instance, the spread of PB lump - PB fines decreased by 1.0 yuan to 148.0 yuan/ton; the spread of FMG mixed fines - Super Special fines increased by 2.0 yuan to 48.0 yuan/ton [13]. Group 5: Rule Adjustments - Adjustments to Deliverable Varieties: Four new deliverable varieties (本钢精粉, IOC6, KUMBA, 乌克兰精粉) were added, and the brand premium for all was set to 0, effective from the I2202 contract. Four more varieties (太钢精粉, 马钢精粉, 五矿标准粉, SP10粉) were added as deliverable brands with a brand premium of 0 yuan/ton, applicable to I2312 and subsequent contracts [11]. - Brand Premium Adjustments: Only PB fines, BRBF, and Carajás fines have a brand premium of 15 yuan/ton, while other deliverable brands have a premium of 0 yuan/ton [11]. - Quality Difference and Premium Adjustments: The allowable range of iron grade was adjusted to ≥56%, and the allowable ranges for other elements were set. A dynamic adjustment mechanism for the iron element premium (X) was introduced [11]. Group 6: Research Team - The black research team includes Qiu Yuecheng, Zhang Xiaojin, Liu Xi, and Zhang Chunjie, each with rich experience in the steel and futures industries [26].