光期黑色：铁矿石基差及价差监测日报-20250731

Report Summary 1. Report Information - Report Title: "Guangda Futures Black: Iron Ore Basis and Spread Monitoring Daily Report" [1] - Date: July 31, 2025 [2] 2. Core Views - The report provides daily monitoring data on iron ore futures contract prices, spreads, and basis, as well as information on contract rule changes and the composition of the research team. 3. Key Points by Section 3.1 Futures Contract Prices and Spreads - Contract Prices: The closing prices of I05, I09, and I01 contracts decreased compared to the previous day, with changes of -3.5, -9.0, and -4.5 respectively [4]. - Contract Spreads: The spreads of I05 - I09, I09 - I01, and I01 - I05 contracts changed by 5.5, -4.5, and -1.0 respectively [4]. 3.2 Basis - Basis Data: The basis of various iron ore varieties changed, with some increasing and some decreasing. For example, the basis of BRBF increased by 8, while the basis of Carajás fines decreased by 1 [7]. - Basis Charts: Multiple charts show the basis trends of different iron ore varieties over time [9][10][11]. 3.3 Contract Rule Changes - New Deliverable Varieties: Four new deliverable varieties (Benxi Concentrate, IOC6, KUMBA, and Ukrainian Concentrate) were added, and four more (Taigang Concentrate, Magang Concentrate, Wugang Standard Fines, and SP10 Fines) were also added later [12]. - Brand Premium Adjustment: Only PB fines, BRBF, and Carajás fines have a brand premium of 15 yuan/ton, and the rest are 0 yuan/ton [12]. - Quality Premium Adjustment: The allowable range of iron grade and other element indicators was adjusted, and a dynamic adjustment mechanism for the iron element premium was introduced [12]. 3.4 Variety Spreads - Spread Data: The spreads between different iron ore varieties changed. For example, the spread of PB lump - PB fines increased by 2, while the spread of PB fines - mixed fines decreased by 2 [14]. - Spread Charts: Multiple charts show the spread trends between different iron ore varieties over time [16][17][19][20][21]. 3.5 Research Team Introduction - The black research team consists of Qiu Yuecheng, Zhang Xiaojin, Liu Xi, and Zhang Chunjie, each with rich industry experience and professional qualifications [24].