Guang Da Qi Huo·2025-10-23 03:17Group 1: Report Overview - Report Title: "Guangda Futures Black: Iron Ore Basis and Spread Monitoring Daily Report" [1] - Report Date: October 23, 2025 [1] Group 2: Futures Contract Information - I05 closed at 753.0 today, up 3.5 from the previous day; I09 closed at 731.0, up 1.5; I01 closed at 774.0, up 4.5 [3] - The I05 - I09 spread is 22.0 today, up 2.0 from the previous day; I09 - I01 is -43.0, down 3.0; I01 - I05 is 21.0, up 1.0 [3] Group 3: Basis Data - For various iron ore varieties, such as Carajás fines (Carajás fines), the basis has changed. For example, Carajás fines' basis decreased by 3 to 91 today [5] - The report also provides basis data for other varieties like BRBF, Newman fines, etc., along with their price changes and basis changes [5] Group 4: Contract and Brand Adjustments - Since December 2, the main iron ore contract is I2205. Four new deliverable varieties (Benxi Iron concentrate, IOC6, KUMBA, Ukrainian iron concentrate) are added with a brand premium of 0 starting from the I2202 contract [10] - Brand premiums for existing varieties are adjusted. Only PB fines, BRBF, and Carajás fines have a brand premium of 15 yuan/ton, and others are 0 [10] - Four more brands (Taigang iron concentrate, Magang iron concentrate, Minmetals standard fines, SP10 fines) are added as deliverable brands with a brand premium of 0, applicable to I2312 and later contracts [10][11] Group 5: Variety Spread Data - PB lump - PB fines spread is 130.0 today, down 2.0 from the previous day; PB fines - mixed fines spread is 37.0, down 1.0 [12] - The report also shows spread data for other variety combinations and their changes [12] Group 6: Research Team Introduction - The black research team includes Qiu Yuecheng, Zhang Xiaojin, Liu Xi, and Zhang Chunjie, with their respective positions and work experience [23]