宝城期货品种套利数据日报（2025年10月20日）：一、动力煤-20251020

Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Core View of the Report The report presents the arbitrage data of various futures varieties on October 20, 2025, including the basis, inter - period spreads, and inter - variety spreads of different commodities in multiple sectors such as power coal, energy chemicals, black metals, non - ferrous metals, agricultural products, and stock index futures, aiming to provide reference for investors in futures trading. 3. Summary by Directory 3.1 Power Coal - Basis data from October 13 to October 17, 2025, shows that the basis was - 87.4, - 81.4, - 70.4, - 60.4, and - 53.4 yuan/ton respectively, with a continuous increase trend. The spreads of 5 - month minus 1 - month, 9 - month minus 1 - month, and 9 - month minus 5 - month were all 0 during this period [2]. 3.2 Energy Chemicals 3.2.1 Energy Commodities - For fuel oil, INE crude oil, and the ratio of crude oil to asphalt, data such as basis, ratio, and other indicators from October 13 to October 17, 2025, are provided. For example, the basis of INE crude oil was 7.78, 6.92, 8.63, 15.20, and 82.20 yuan/ton respectively [7]. 3.2.2 Chemical Commodities - Basis: From October 13 to October 17, 2025, the basis data of rubber, methanol, PTA, LLDPE, V, and PP are presented. For instance, the basis of rubber was - 690, - 595, - 645, - 600, and - 445 yuan/ton respectively [9]. - Inter - period Spreads: The inter - period spreads of 5 - month minus 1 - month, 9 - month minus 1 - month, and 9 - month minus 5 - month for rubber, methanol, PTA, LLDPE, PVC, PP, and ethylene glycol are given. For example, the 5 - month minus 1 - month spread of rubber was - 30 yuan/ton [11]. - Inter - variety Spreads: The inter - variety spreads of LLDPE - PVC, LLDPE - PP, PP - PVC, and PP - 3 * methanol from October 13 to October 17, 2025, are provided. For example, the LLDPE - PVC spread on October 17 was 2187 yuan/ton [11]. 3.3 Black Metals - Inter - period Spreads: The inter - period spreads of 5 - month minus 1 - month, 9 - month (10) minus 1 - month, and 9 - month (10) minus 5 - month for rebar, iron ore, coke, and coking coal are presented. For example, the 5 - month minus 1 - month spread of rebar was 57.0 yuan/ton [20]. - Inter - variety Spreads: The inter - variety spreads of rebar/iron ore, rebar/coke, coke/coking coal, and rebar - hot - rolled coil from October 13 to October 17, 2025, are provided. For example, the rebar/iron ore ratio on October 17 was 3.95 [20]. 3.4 Non - ferrous Metals 3.4.1 Domestic Market - The basis data of copper, aluminum, zinc, lead, nickel, and tin from October 13 to October 17, 2025, are provided. For example, the basis of copper on October 17 was 350 yuan/ton [28]. 3.4.2 London Market - Data such as LME spreads, Shanghai - London ratios, CIF prices, domestic spot prices, and import profit and loss for LME non - ferrous metals (copper, aluminum, zinc, lead, nickel, and tin) on October 17, 2025, are presented. For example, the LME spread of copper was (16.83) [33]. 3.5 Agricultural Products - Basis: The basis data of soybeans No.1, soybeans No.2, soybean meal, soybean oil, corn, etc., from October 13 to October 17, 2025, are provided. For example, the basis of soybeans No.1 on October 17 was - 48 yuan/ton [39]. - Inter - period Spreads: The inter - period spreads of 5 - month minus 1 - month, 9 - month minus 1 - month, and 9 - month minus 5 - month for various agricultural products are given. For example, the 5 - month minus 1 - month spread of soybeans No.1 was 32 yuan/ton [39]. - Inter - variety Spreads: The inter - variety spreads of soybeans No.1/corn, soybeans No.2/corn, soybean oil/soybean meal, etc., from October 13 to October 17, 2025, are provided. For example, the soybean oil/soybean meal ratio on October 17 was 2.88 [39]. 3.6 Stock Index Futures - Basis: The basis data of CSI 300, SSE 50, CSI 500, and CSI 1000 from October 13 to October 17, 2025, are provided. For example, the basis of CSI 300 on October 17 was 29.03 [50]. - Inter - period Spreads: The inter - period spreads of next - month minus current - month and next - quarter minus current - quarter for CSI 300, SSE 50, CSI 500, and CSI 1000 are presented. For example, the next - month minus current - month spread of CSI 300 was - 42.5 [50].