Report Title - The report is titled "Yongan Basis Morning Report" [1] Core Data Summary Macro - As of October 16, 2025, for IF, the spot price converted to futures was 4618 with a change of 12, the basis was 28, the corresponding contract was 2512, and the basis deviation was 0.70; for IH, the spot price converted to futures was 3019 with a change of 18, the basis was 0, the corresponding contract was 2512, and the basis deviation was 0.04; for IC, the spot price converted to futures was 7232 with a change of -62, the basis was 170, the corresponding contract was 2512, and the basis deviation was 0.98 [2] Black - On October 16, 2025, in Shanghai and Beijing, the spot price converted to futures for rebar was 3190 with no change, the basis was 141, the corresponding contract was 2601, and the basis deviations were 0.72 and 0.08 respectively; for hot - rolled coil in Shanghai, the spot price converted to futures was 3280 with no change, the basis was 61, the corresponding contract was 2601, and the basis deviation was 0.84; for ore in Shandong, the spot price converted to futures was 824 with a change of 2, the basis was 51, the corresponding contract was provided by a third - party, and the basis deviation was 0.42; for coke in Tianjin Port, the spot price converted to futures was 1602 with no change, the basis was -70, the corresponding contract was 2601, and the basis deviation was -0.50; for coking coal with port warehouse receipts, the spot price converted to futures was 1516 with a change of -3, the basis was 330, the corresponding contract was 2601, and the basis deviation was 0.51; for thermal coal at Qinhuangdao Port, the spot price converted to futures was 736 with a change of 8, the basis was -65, the corresponding contract was 2511, and the basis deviation was -0.29; for glass at low - price in Shahe, the spot price converted to futures was 1164 with a change of 14, the basis was 17, the corresponding contract was 2601, and the basis deviation was 0.19; for glass at low - price in Hubei, the spot price converted to futures was 1110 with no change, the basis was -37, the corresponding contract was 2601, and the basis deviation was 0.01; for ferrosilicon in Yinchuan, the spot price converted to futures was 5580 with no change, the basis was -46, the corresponding contract was 2601, and the basis deviation was -0.44; for silicomanganese in Inner Mongolia, the spot price converted to futures was 6050 with a change of -30, the basis was 226, the corresponding contract was 2601, and the basis deviation was 0.83 [3] Energy and Chemicals - On October 16, 2025, for methanol at the port, the spot price converted to futures was 2324 with no change, the basis was 5, the corresponding contract was provided by a third - party, and the basis deviation was -0.27; in Henan, the spot price converted to futures was 2380 with a change of -10, the basis was 61, the corresponding contract was 2601, and the basis deviation was 0.27; in Lunan, the spot price converted to futures was 2515 with a change of -10, the basis was 196, the corresponding contract was 2601, and the basis deviation was 0.48; in Hebei, the spot price converted to futures was 2650 with a change of -10, the basis was 331, the corresponding contract was 2601, and the basis deviation was 0.81; for PTA in East China, the spot price converted to futures was 4371 with a change of 34, the basis was -85, the corresponding contract was provided by a third - party, and the basis deviation was -0.88; for PP in East China, the spot price converted to futures was 6528 with a change of -12, the basis was -90, the corresponding contract was provided by a third - party, and the basis deviation was -0.70; for LLDPE in North China, the spot price converted to futures was 6880 with no change, the basis was -49, the corresponding contract was provided by a third - party, and the basis deviation was -0.16; for high - end PVC, the spot price converted to futures was 4575 with a change of -5, the basis was -90, the corresponding contract was provided by a third - party, and the basis deviation was 0.66; for low - end PVC, the spot price converted to futures was 4475 with a change of -5, the basis was -190, the corresponding contract was provided by a third - party, and the basis deviation was 0.37; for asphalt in East China, the spot price converted to futures was 3550 with no change, the basis was 271, the corresponding contract was 2511, and the basis deviation was 0.52; in Shandong, the spot price converted to futures was 3410 with a change of -50, the basis was 211, the corresponding contract was 2511, and the basis deviation was 0.54; in South China, the spot price converted to futures was 3500 with no change, the basis was 221, the corresponding contract was 2511, and the basis deviation was 0.58; for ethylene glycol in the domestic market, the spot price converted to futures was 4153 with a change of 32, the basis was 64, the corresponding contract was provided by a third - party, and the basis deviation was 0.54; for soda ash, the spot price converted to futures was 1140 with no change, the basis was -95, the corresponding contract was 2601, and the basis deviation was -0.71; for pulp in Shandong, the spot price converted to futures was 4965 with a change of -10, the basis was 109, the corresponding contract was 2511, and the basis deviation was 0.95; for staple fiber in East China, the spot price converted to futures was 6115 with a change of 10, the basis was 23, the corresponding contract was 2512, and the basis deviation was 0.35; for urea, the spot price converted to futures was 1490 with no change, the basis was -114, the corresponding contract was 2601, and the basis deviation was -0.90; for natural rubber in Shanghai, the spot price converted to futures was 14560 with no change, the basis was -340, the corresponding contract was 2601, and the basis deviation was 0.70; for whole latex natural rubber, the spot price converted to futures was 13700 with a change of 5, the basis was -1200, the corresponding contract was 2601, and the basis deviation was -0.62; for 20 - number rubber in Qingdao, the spot price converted to futures was 1825 with no change, the basis was 779, the corresponding contract was 2512, and the basis deviation was 1.00; for styrene, the spot price converted to futures was 6605 with a change of 70, the basis was 5, the corresponding contract was 2511, and the basis deviation was -0.90 [3] Non - ferrous Metals - As of October 16, 2025, for copper, the spot price converted to futures was 85180 with a change of -70, the basis was 70, the corresponding contract was provided by a third - party, and the basis deviation was 0.27; for international copper, the spot price converted to futures was 75495 with a change of -5, the basis was -35, the corresponding contract was 2511, and the basis deviation was 0.73; for aluminum, the spot price converted to futures was 20950 with a change of 30, the basis was 0, the corresponding contract was provided by a third - party, and the basis deviation was 0.29; for zinc, the spot price converted to futures was 21920 with a change of -90, the basis was -40, the corresponding contract was provided by a third - party, and the basis deviation was -0.60; for lead, the spot price converted to futures was 16950 with a change of 50, the basis was -210, the corresponding contract was provided by a third - party, and the basis deviation was -0.40; for nickel, the spot price converted to futures was 121350 with a change of -100, the basis was 400, the corresponding contract was provided by a third - party, and the basis deviation was 0.78; for tin, the spot price converted to futures was 281200 with a change of -500, the basis was -150, the corresponding contract was provided by a third - party, and the basis deviation was -0.16 [4] Agricultural Products - On October 16, 2025, for 43% soybean meal in Jiangsu, the spot price converted to futures was 2900 with no change, the basis was -7, the corresponding contract was 2601, and the basis deviation was -0.03; for first - grade soybean oil in Jiangsu, the spot price converted to futures was 8450 with a change of -10, the basis was 194, the corresponding contract was 2601, and the basis deviation was -0.35; for 36% rapeseed meal with the average price in Guangdong, the spot price converted to futures was 2500 with a change of 10, the basis was 136, the corresponding contract was 2601, and the basis deviation was 0.88; for rapeseed oil with the market average price, the spot price converted to futures was 10407 with a change of -50, the basis was 472, the corresponding contract was 2601, and the basis deviation was 0.99; for 24° palm oil in Guangzhou, the spot price converted to futures was 9190 with a change of -20, the basis was -122, the corresponding contract was 2601, and the basis deviation was -0.97; for cotton nationwide, the spot price converted to futures was 14420 with a change of 20, the basis was 1100, the corresponding contract was 2601, and the basis deviation was 0.67; for white sugar in Guangxi, the spot price converted to futures was 5790 with no change, the basis was 382, the corresponding contract was 2601, and the basis deviation was 0.48; in Yunnan, the spot price converted to futures was 5860 with a change of -10, the basis was 452, the corresponding contract was 2601, and the basis deviation was 0.69; for fresh eggs in Shijiazhuang, Hebei, the spot price converted to futures was 2890 with a change of 110, the basis was 72, the corresponding contract was 2511, and the basis deviation was -0.12; in Dalian, Liaoning, the spot price converted to futures was 2820 with a change of 110, the basis was 2, the corresponding contract was 2511, and the basis deviation was -0.22; in Dezhou, Shandong, the spot price converted to futures was 2750 with a change of 150, the basis was -68, the corresponding contract was 2511, and the basis deviation was -0.34; in Shangqiu, Henan, the spot price converted to futures was 2850 with a change of 150, the basis was 32, the corresponding contract was 2511, and the basis deviation was -0.36; for soybeans in Bei'an, the spot price converted to futures was 4040 with no change, the basis was 22, the corresponding contract was 2601, and the basis deviation was -0.58; in Jiamusi, the spot price converted to futures was 4100 with no change, the basis was 82, the corresponding contract was 2601, and the basis deviation was -0.20; for corn in Changchun, the spot price converted to futures was 2240 with no change, the basis was 129, the corresponding contract was 2511, and the basis deviation was 0.58; in Weifang, the spot price converted to futures was 2360 with no change, the basis was 249, the corresponding contract was 2511, and the basis deviation was 0.55; for starch in Changchun, the spot price converted to futures was 2580 with no change, the basis was 174, the corresponding contract was 2511, and the basis deviation was 0.70; in Weifang, the spot price converted to futures was 2605 with no change, the basis was 209, the corresponding contract was 2511, and the basis deviation was 0.82; for live pigs in Kaifeng, Henan, the spot price converted to futures was 11070 with a change of 50, the basis was -835, the corresponding contract was 2601, and the basis deviation was -0.93; for red dates in Hebei, the spot price converted to futures was 9500 with no change, the basis was -1860, the corresponding contract was 2601, and the basis deviation was -0.91; for apples in Shandong, the spot price converted to futures was 7400 with no change, the basis was -1110, the corresponding contract was 2601, and the basis deviation was -0.66 [5] Other Explanations - Futures prices are the prices of the main contracts. For varieties with night trading, they are the night - trading closing prices; for varieties without night trading, they are the afternoon closing prices of the previous trading day; for non - ferrous metals, they are the noon closing prices of the previous trading day [5] - The deviation degree represents the degree of the basis deviating from the historical 500 trading days (about two years). It is between -1 and 1. 0 means it is at the historical average level. The closer it is to 1, the higher it is than the average; the closer it is to -1, the lower it is than the average. If the number of historical valid data is less than 500, all historical data are used [6] - In the spread, the spot area selects the first area of each variety [6] - Since the basis of thermal coal has no reference value, no data is shown [6]
永安基差早报-20251017
Yong An Qi Huo·2025-10-17 03:51