全品种价差日报-20251022

Report Summary 1. Report Industry Investment Rating There is no information about the report industry investment rating in the provided content. 2. Report Core View The report presents the basis, spot price, futures price, basis rate, historical quantile, and spot reference of various commodities across different sectors including ferrous metals, non - ferrous metals, precious metals, agricultural products, energy and chemicals, and financial futures on October 22, 2025 [1][3]. 3. Summary by Related Catalogs Ferrous Metals - Silicon Iron (SF601): The conversion price of 72 - silicon iron qualified blocks in Inner Mongolia - Tianjin warehouse receipts is 5528, the previous price was 5474, with a change of 0.99% and a historical quantile of 62.50% [1]. - Silicon Manganese (SM601): The price is 5950, the previous price was 5746, a change of 3.59% and a historical quantile of 61.30%. The conversion price is 6517 for silicon manganese in Inner Mongolia - Hubei warehouse receipts [1]. - Rebar (RB2601): The price is 3200, the previous price was 3047, a change of 5.02% and a historical quantile of 64.10%. The reference is HRB400 20mm in Shanghai [1]. - Hot - Rolled Coil (HC2601): The price is 3270, the previous price was 3219, a change of 1.58% and a historical quantile of 40.50%. The reference is Q235B 4.75mm in Shanghai [1]. - Iron Ore (I2601): The price is 835, the previous price was 770, a change of 8.54% and a historical quantile of 52.30%. The conversion price is for 62.5% Brazilian mixed powder (BRBF) from Vale at Rizhao Port [1]. - Coke (J2601): The price is 1603, the previous price was 1672, a change of - 4.15% and a historical quantile of 27.76%. The conversion price is for quasi - first - grade metallurgical coke at Rizhao Port [1]. - Coking Coal (JM2601): The price is 1277, the previous price was 1177, a change of 8.50% and a historical quantile of 51.20%. The conversion price is for S1.3 G75 main coking coal (Mongolian 5) at Shaheyi [1]. Non - Ferrous Metals - Copper (CU2512): The spot price is 85730, the futures price is 85400, the basis is 330, the basis rate is 0.39%, and the historical quantile is 78.33%. The reference is the SMM 1 computer copper average price [1]. - Aluminum (AL2512): The spot price is 20970, the futures price is 20965, the basis is 5, the basis rate is 0.02%, and the historical quantile is 60.00%. The reference is the SMM A00 aluminum average price [1]. - Alumina (AO2601): The spot price is 2900, the futures price is 2810, the basis is 90, the basis rate is 3.21%, and the historical quantile is 50.66%. The reference is the SMM alumina average price [1]. - Zinc (ZN2512): The spot price is 21870, the futures price is 21970, the basis is - 100, the basis rate is - 0.46%, and the historical quantile is 33.33%. The reference is the SMM 1 zinc ingot average price [1]. - Tin (SN2511): The spot price is 281300, the futures price is 280870, the basis is 430, the basis rate is 0.15%, and the historical quantile is 63.12%. The reference is the SMM 1 tin average price [1]. - Nickel (NISE12): The spot price is 121700, the futures price is 121180, the basis is 520, the basis rate is 0.43%, and the historical quantile is 82.08%. The reference is the SMM 1 imported nickel average price [1]. - Stainless Steel (SS2512): The spot price is 13170, the futures price is 12665, the basis is 505, the basis rate is 3.99%, and the historical quantile is 89.91%. The reference is 304/2B 21240C from Wuxi Hongwang (including trimming fees) [1]. - Lithium Carbonate (LC2601): The spot price is 74100, the futures price is 75980, the basis is - 1880, the basis rate is - 2.47%, and the historical quantile is 27.53%. The reference is the SMM battery - grade lithium carbonate average price [1]. - Industrial Silicon (SI2511): The spot price is 9350, the futures price is 8505, the basis is 845, the basis rate is 9.94%, and the historical quantile is 57.93%. The reference is the SMM average price [1]. Precious Metals - Gold (AU2512): The spot price is 986.9, the futures price is 994.1, the basis is - 7.2, the basis rate is - 0.72%, and the historical quantile is 0.20%. The reference is the Shanghai Gold Exchange gold spot AU (T + D) [1]. - Silver (AG2512): The spot price is 11759.0, the futures price is 11805.0, the basis is - 46.0, the basis rate is - 0.39%, and the historical quantile is 11.00%. The reference is the Shanghai Gold Exchange silver spot AG (T + D) [1]. Agricultural Products - Soybean Meal (M2601): The spot price is 2870, the futures price is 2889.0, the basis is - 19.0, the basis rate is - 0.66%, and the historical quantile is 32.20%. The reference is the ex - factory price of ordinary protein soybean meal in Jiangsu Zhangjiagang [1]. - Soybean Oil (Y2601): The spot price is 8460, the futures price is 8294.0, the basis is 166.0, the basis rate is 2.00%, and the historical quantile is 34.00%. The reference is the ex - factory price of grade - four soybean oil in Jiangsu Zhangjiagang [1]. - Palm Oil (P2601): The spot price is 9260, the futures price is 9294.0, the basis is - 34.0, the basis rate is - 0.37%, and the historical quantile is 13.80%. The reference is the delivery price of palm oil at Huangpu Port [1]. - Rapeseed Meal (RM601): The spot price is 2480, the futures price is 2321.0, the basis is 159.0, the basis rate is 6.85%, and the historical quantile is 73.40%. The reference is the ex - factory price of ordinary rapeseed meal in Guangdong Zhanjiang [1]. - Rapeseed Oil (OI601): The spot price is 10210, the futures price is 9864.0, the basis is 346.0, the basis rate is 3.51%, and the historical quantile is 82.60%. The reference is the ex - factory price of grade - four rapeseed oil in Jiangsu Nantong [1]. - Corn (C2601): The spot price is 2180, the futures price is 2144.0, the basis is 36.0, the basis rate is 1.68%, and the historical quantile is 57.90%. The reference is the flat - hatch price of corn at Xizhou Port [1]. - Corn Starch (CS2601): The spot price is 2550, the futures price is 2429.0, the basis is 121.0, the basis rate is 4.98%, and the historical quantile is 61.50%. The reference is the ex - factory price of corn starch in Jilin Changchun [1]. - Live Hogs (LH2601): The spot price is 11450, the futures price is 12235.0, the basis is - 785.0, the basis rate is - 6.42%, and the historical quantile is 22.50%. The reference is the ex - factory price of live hogs (outer ternary) in Henan [1]. - Eggs (JD2512): The spot price is 2780, the futures price is 2946.0, the basis is - 166.0, the basis rate is - 5.63%, and the historical quantile is 21.10%. The reference is the average price of eggs in Hebei Shijiazhuang [1]. - Cotton (CF601): The spot price is 14586, the futures price is 13540.0, the basis is 1046.0, the basis rate is 7.73%, and the historical quantile is 63.70%. The reference is the arrival price of cotton 3128B in Xinjiang [1]. - Sugar (SR601): The spot price is 5810, the futures price is 5438.0, the basis is 372.0, the basis rate is 6.84%, and the historical quantile is 63.80%. The reference is the spot price of white sugar at Liuzhou Station [1]. - Apples (AP601): The spot price is 8840, the futures price is 8850.0, the basis is - 10.0, the basis rate is - 0.11%, and the historical quantile is 17.10%. The reference is the delivery theoretical price of apples [1]. - Jujubes (CJ601): The spot price is 9600, the futures price is 11380.0, the basis is - 1780.0, the basis rate is - 15.64%, and the historical quantile is 22.30%. The reference is the wholesale price of first - grade grey jujubes in Hebei [1]. Energy and Chemicals - Para - Xylene (PX601): The spot price is 6431.0, the futures price is 6332.0, the basis is 99.0, the basis rate is 1.60%, and the historical quantile is 12.30%. The reference is the spot price (CFR) of para - xylene at Chinese main ports converted into RMB [1]. - PTA (TA601): The spot price is 4330.0, the futures price is 4414.0, the basis is - 84.0, the basis rate is - 2.04%, and the historical quantile is 20.00%. The reference is the market price (mid - price) of purified terephthalic acid (PTA) in East China [1]. - Ethylene Glycol (EG2601): The spot price is 4100.0, the futures price is 4004.0, the basis is 96.0, the basis rate is 1.05%, and the historical quantile is 75.00%. The reference is the market price (mid - price) of ethylene glycol (MEG) in East China [1]. - Polyester Staple Fiber (PF512): The spot price is 6285.0, the futures price is 6070.0, the basis is 215.0, the basis rate is 2.19%, and the historical quantile is 74.20%. The reference is the market price (mainstream price) of polyester staple fiber (1.4D*38mm (direct - spun)) in the East China market [1]. - Styrene (EB2511): The spot price is 6465.0, the futures price is 6438.0, the basis is 27.0, the basis rate is 4.64%, and the historical quantile is 75.20%. The reference is the market price (spot benchmark price) of styrene in East China, China [1]. - Methanol (MA601): The spot price is 2262.0, the futures price is 2268.0, the basis is - 6.0, the basis rate is - 0.27%, and the historical quantile is 54.00%. The reference is the market price (spot benchmark price) of methanol in Jiangsu Taicang, China [1]. - Urea (UR601): The spot price is 1540.0, the futures price is 1609.0, the basis is - 69.0, the basis rate is - 2.24%, and the historical quantile is 5.40%. The reference is the market price (mainstream price) of small - particle urea in Shandong [1]. - LLDPE (L2601): The spot price is 6945.0, the futures price is 6883.0, the basis is 62.0, the basis rate is 1.86%, and the historical quantile is 56.90%. The reference is the duty - paid self - pick - up price (mid - price) of linear low - density polyethylene LLDPE (film grade) in Shandong [1]. - PP (PP2601): The spot price is 6540.0, the futures price is 6583.0, the basis is - 43.0, the basis rate is - 0.66%, and the historical quantile is 48.20%. The reference is the duty - paid self - pick - up price (mid - price) of polypropylene PP (拉丝级, melt index 2 - 4) in Zhejiang [1]. - PVC (V2601): The spot price is 4600.0, the futures price is 4699.0, the basis is - 99.0, the basis rate is - 3.7%, and the historical quantile is 32.70%. The reference is the market price (mainstream price) of polyvinyl chloride (SG - 5) in the Changzhou market, China [1]. - Caustic Soda (SH601): The spot price is 2562.5, the futures price is 2375.0, the basis is 187.5, the basis rate is 5.34%, and the historical quantile is 71.00%. The reference is the market price (mainstream price) of caustic soda (32% ion - membrane caustic soda) in the Shandong market converted to 100% [1]. - LPG (PG2512): The spot price is 4448.0, the futures price is 4091.0, the basis is 357.0, the basis rate is 6.40%, and the historical quantile is 47.80%. The reference is the market price of liquefied petroleum gas in the Guangzhou area [1]. - Asphalt (BU2601): The spot price is 3340.0, the futures price is 3157.0, the basis is 183.0, the basis rate is 11.40%, and the historical quantile is 93.40%. The reference is the market price (mainstream price) of asphalt (heavy - traffic asphalt) in Shandong [1]. - Butadiene Rubber (BR2512): The spot price is 11000.0, the futures price