光期黑色：铁矿石基差及价差监测日报-20250801

Report Summary 1. Report Industry Investment Rating No information provided regarding the industry investment rating. 2. Core Viewpoints The report focuses on the daily monitoring of iron ore basis and spread, including contract spreads, basis data, and variety spreads, along with the regulatory changes of iron ore futures deliverable brands. 3. Summary by Relevant Catalogs 3.1 Contract Spreads - The closing prices of I05, I09, and I01 contracts decreased by 13.5, 10.0, and 12.5 respectively compared to the previous day [3]. - The I05 - I09 spread decreased by 3.5, the I09 - I01 spread increased by 2.5, and the I01 - I05 spread increased by 1.0 [3]. 3.2 Basis - Data: The prices of most iron ore varieties decreased compared to the previous day, with the basis of some varieties increasing and others decreasing. For example, the price of Carajás fines decreased by 6.0, and the basis increased by 3 [6]. - Charts: The report presents basis charts for different types of iron ore, including Brazilian fines, Australian medium - grade fines, Australian low - grade fines, domestic ores, etc. [8][9][10] 3.3 Regulatory Changes of Deliverable Brands - Newly added 4 deliverable varieties: Benxi concentrate, IOC6, KUMBA, and Ukrainian concentrate, with a brand premium of 0, effective from the I2202 contract [11]. - Adjusted the brand premiums of existing varieties, with only PB fines, BRBF, and Carajás fines having a brand premium of 15 yuan/ton, and the rest being 0 [11]. - Modified the quality differences and quality premiums of substitutes, including adjusting the allowable ranges of iron grade and other element indicators and their corresponding quality premiums, and introducing a dynamic adjustment mechanism for the premium of iron element indicators [11]. - Added 4 deliverable brands: Taigang concentrate, Magang concentrate, Minmetals standard fines, and SP10 fines, with a brand premium of 0 [11]. 3.4 Variety Spreads - Data: The spreads between different iron ore varieties changed. For example, the PB lump - PB fines spread decreased by 2.0, while the PB fines - mixed fines spread increased by 1.0 [13]. - Charts: The report provides charts for different types of variety spreads, such as lump - fines spreads, high - medium grade fines spreads, medium - low grade fines spreads, etc. [14][15][16][18][19]