光期黑色：铁矿石基差及价差监测日报-20251118
Guang Da Qi Huo·2025-11-18 03:14

Group 1: General Information - The report is "Guangqi Black: Iron Ore Basis and Spread Monitoring Daily Report" dated November 18, 2025 [1] Group 2: Futures Contract Information - Futures contract I05 closed at 756.5 yuan/ton today, up 13.0 yuan from the previous day; I09 closed at 732.0 yuan/ton, up 10.5 yuan; I01 closed at 788.5 yuan/ton, up 16.0 yuan [3] - The spread between I05 - I09 is 24.5 yuan/ton today, up 2.5 yuan from the previous day; I09 - I01 is -56.5 yuan/ton, down 5.5 yuan; I01 - I05 is 32.0 yuan/ton, up 3.0 yuan [3] Group 3: Basis Information - For various iron ore varieties, the basis has generally decreased. For example, the basis of Carajás fines decreased by 5 yuan to 62 yuan, and that of BRBF decreased by 5 yuan to 70 yuan [5] Group 4: Contract and Policy Adjustments - Starting from December 2nd, the main iron ore contract is I2205. Four new deliverable varieties (Benxi Concentrate, IOC6, KUMBA, Ukrainian Concentrate) are added with a brand premium of 0, effective from the I2202 contract [10] - The brand premiums of PB fines, BRBF, and Carajás fines are 15 yuan/ton, and the rest are 0 yuan/ton [10] - The allowable range of iron grade is adjusted to ≥56%, and the allowable ranges of silica, alumina, phosphorus, and sulfur are set. The premium and discount for quality differences are more detailed, and the value of X for adjusting the iron element premium is determined semi - annually [10] - Four new deliverable brands (Taigang Concentrate, Magang Concentrate, Minmetals Standard Fines, SP10 Fines) are added with a brand premium of 0 yuan/ton, applicable to the I2312 and subsequent contracts [10][11] Group 5: Variety Spread Information - The spread between PB lump and PB fines is 87.0 yuan/ton today, down 1.0 yuan from the previous day; the spread between PB fines and FMG mixed fines is 66.0 yuan/ton, up 5.0 yuan [12] Group 6: Research Team Information - The black research team includes Qiu Yuecheng, Zhang Xiaojin, Liu Xi, and Zhang Chunjie, each with rich experience and relevant qualifications [24]