光期黑色：铁矿石基差及价差监测日报-20250829

Report Overview - The report is titled "Guangqi Black: Iron Ore Basis and Spread Monitoring Daily Report" dated August 29, 2025, focusing on iron ore futures contracts, basis, and spread analysis [1] 1. Futures Contracts - Price Changes: I05 closed at 765.5 yuan/ton, up 12.0 yuan from the previous day; I09 at 811.0 yuan/ton, up 14.5 yuan; I01 at 790.5 yuan/ton, up 15.0 yuan [3] - Contract Spreads: The spread of I05 - I09 was -45.5 yuan/ton, down 2.5 yuan; I09 - I01 was 20.5 yuan/ton, down 0.5 yuan; I01 - I05 was 25.0 yuan/ton, up 3.0 yuan [3] 2. Basis 2.1 Basis Data - Price and Basis Changes: Various iron ore varieties showed price and basis changes. For example, the price of Carajás fines increased by 12.0 yuan to 891 yuan/ton, and the basis decreased by 2 to 59 yuan/ton [6] 2.2 Basis Charts - Charts Presented: There are charts for different types of iron ore including Brazilian fines, Australian medium - grade fines, Australian low - grade fines, and domestic ores, showing their basis trends [8][9] 3. Variety Spreads 3.1 Variety Spread Data - Spread Changes: For instance, the spread of PB lump - PB fines was 144.0 yuan/ton, down 1.0 yuan; PB fines - mixed fines was 63.0 yuan/ton, up 1.0 yuan [13] 3.2 Variety Spread Charts - Charts for Different Spreads: There are charts for block - powder spreads, high - medium grade fines spreads, medium - low grade fines spreads, etc., presenting the spread trends [14][15] 3.3 More Variety Spread Charts - Additional Spread Charts: Include charts for FMG mixed fines - Super Special fines spread, Carajás fines + Super Special fines - 2 * PB fines spread, etc. [20][21] 4. Exchange Rule Adjustments - Adjustments to Deliverable Brands: Added 4 deliverable brands (Benxi Concentrate, IOC6, KUMBA, Ukrainian Concentrate) with brand premium of 0 since I2202 contract; adjusted brand premiums of existing varieties; modified substitute quality differences and quality premiums [11] - Applicable Contracts: The adjusted deliverable brands and premiums apply to I2312 and subsequent contracts [12] 5. Research Team - Team Members: The black research team includes Qiu Yuecheng, Zhang Xiaojin, Liu Xi, and Zhang Chunjie, with rich experience in the steel and futures industries [24]