全品种价差日报-20251128

Report Industry Investment Rating - No information provided on the industry investment rating 2. Core View of the Report - The report presents the latest data on futures and spot prices, basis, basis rates, and historical quantiles for various commodities including ferrous metals, non - ferrous metals, precious metals, agricultural products, and energy chemicals on November 28, 2025 [1] 3. Summary by Commodity Categories Ferrous Metals - Silicon Iron (SF603): Spot price is 5478, futures price is 5390, basis is 88, basis rate is 2.56%, and historical quantile is 52.20% [1] - Silicon Manganese (SM601): Spot price is 5626, other data not fully presented [1] - Rebar (RB2601): Spot price is 3240, futures price is 3093, basis is 147, basis rate is 4.75%, and historical quantile is 62.00% [1] - Hot - Rolled Coil (HC2601): Spot price is 3293, futures price is 3290, basis is - 3, basis rate is - 0.09%, and historical quantile is 17.00% [1] - Iron Ore (I2601): Spot price (converted price of 62.5% BRBF) is 860, futures price is 800, basis is 60, basis rate is 7.56%, and historical quantile is 48.30% [1] - Coke (J2601): Data on spot price (converted price of quasi - first - grade metallurgical coke) and other details are presented, but not all data is complete [1] - Coking Coal (JM2601): Spot price (converted price of S1.3 G75 main coking coal) is 1195, futures price is 1071, basis is 124, basis rate is 11.58%, and historical quantile is 58.70% [1] Non - Ferrous Metals - Copper (CU2601): Spot price is 87085, futures price is 86990, basis is 95, basis rate is 0.11%, and historical quantile is 59.16% [1] - Aluminum (AL2601): Spot price is 21500, futures price is 21460, basis is - 40, basis rate is - 0.19%, and historical quantile is 43.54% [1] - Alumina (AO2601): Spot price is 2832, futures price is 2724, basis is 108, basis rate is 3.96%, and historical quantile is 57.04% [1] - Zinc (ZN2601): Spot price is 22415, futures price is 22380, basis is 35, basis rate is 0.16%, and historical quantile is 55.00% [1] - Tin (SN2601): Spot price is 302200, futures price is 301800, basis is 400, basis rate is 0.13%, and historical quantile is 36.66% [1] - Nickel (NI2601): Spot price is 117050, futures price is 116900, basis is 150, basis rate is 0.13%, and historical quantile is 62.91% [1] - Stainless Steel (SS2601): Spot price is 12870, futures price is 12410, basis is 460, basis rate is 3.71%, and historical quantile is 83.90% [1] Precious Metals - Gold (AU2602): Spot price is 947.2, futures price is 943.1, basis is - 4.0, basis rate is - 0.43%, and historical quantile is 12.20% [1] - Silver (AG2602): Spot price is 12545.0, futures price is 12525.0, basis is 20.0, basis rate is 0.16%, and historical quantile is 98.30% [1] Agricultural Products - Soybean Meal (M2601): Spot price is 3055.0, futures price is 2990, basis is - 65.0, basis rate is - 2.3%, and historical quantile is 27.40% [1] - Soybean Oil (Y2601): Spot price is 8410, futures price is 8224.0, basis is 186.0, basis rate is 2.26%, and historical quantile is 38.00% [1] - Palm Oil (P2601): Spot price is 8528.0, futures price is 8460, basis is - 68.0, basis rate is - 0.80%, and historical quantile is 10.00% [1] - Rapeseed Meal (RM601): Spot price is 2570, futures price is 2469.0, basis is 101.0, basis rate is 4.09%, and historical quantile is 64.80% [1] - Rapeseed Oil (Ol601): Spot price is 10070, futures price is 9772.0, basis is 298.0, basis rate is 3.05%, and historical quantile is 80.60% [1] - Corn (C2601): Spot price is 2290, futures price is 2243.0, basis is 47.0, basis rate is 2.10%, and historical quantile is 65.50% [1] - Corn Starch (CS2601): Spot price is 2600, futures price is 2572.0, basis is 28.0, basis rate is 1.09%, and historical quantile is 17.50% [1] - Live Hogs (LH2601): Spot price is 11585.0, futures price is 11400, basis is - 185.0, basis rate is - 1.60%, and historical quantile is 38.40% [1] - Eggs (JD2601): Spot price is 3282.0, futures price is 2890, basis is - 392.0, basis rate is - 11.94%, and historical quantile is 13.00% [1] - Cotton (CF601): Spot price is 14700, futures price is 13640.0, basis is 1060.0, basis rate is 7.77%, and historical quantile is 1.50% [1] - Sugar (SR601): Spot price is 5615, futures price is 5403.0, basis is 212.0, basis rate is 3.92%, and historical quantile is 36.40% [1] - Apples (AP601): Spot price is 9529.0, futures price is 9000, basis is - 529.0, basis rate is - 5.95%, and historical quantile is 5.90% [1] - Red Dates (CJ601): Spot price is 9150.0, futures price is 8700, basis is - 450.0, basis rate is - 4.92%, and historical quantile is 72.20% [1] Energy Chemicals - Paraxylene (PX601): Spot price is 6741.0, futures price is 6718.0, basis is 23.0, basis rate is 0.34%, and historical quantile is 30.80% [1] - PTA (TA601): Spot price is 4632.0, futures price is 4600.0, basis is - 32.0, basis rate is - 0.69%, and historical quantile is 44.50% [1] - Ethylene Glycol (EG2601): Spot price is 3880.0, futures price is 3873.0, basis is 7.0, basis rate is 0.18%, and historical quantile is 61.60% [1] - Polyester Staple Fiber (PF602): Spot price is 6280.0, futures price is 6162.0, basis is 118.0, basis rate is 1.91%, and historical quantile is 71.80% [1] - Styrene (EB2601): Spot price is 6585.0, futures price is 6520.0, basis is 65.0, basis rate is 1.00%, and historical quantile is 43.60% [1] - Methanol (MA601): Spot price is 2114.0, futures price is 2105.0, basis is - 9.0, basis rate is - 0.43%, and historical quantile is 32.10% [1] - Urea (UR601): Spot price is 1668.0, futures price is 1650.0, basis is 18.0, basis rate is - 1.08%, and historical quantile is 10.90% [1] - LLDPE (L2601): Spot price is 6810.0, futures price is 6699.0, basis is 111.0, basis rate is 1.65%, and historical quantile is 56.80% [1] - PP (PP2601): Spot price is 6450.0, futures price is 6295.0, basis is 155.0, basis rate is 2.46%, and historical quantile is 67.70% [1] - PVC (V2601): Spot price is 4517.0, futures price is 4450.0, basis is - 67.0, basis rate is - 1.48%, and historical quantile is 66.30% [1] - Caustic Soda (SH601): Spot price is 2343.8, futures price is 2238.0, basis is 105.8, basis rate is 4.73%, and historical quantile is 64.40% [1] - LPG (PG2601): Spot price is 4348.0, futures price is 4259.0, basis is 89.0, basis rate is 2.09%, and historical quantile is 36.30% [1] - Asphalt (BU2601): Spot price is 3010.0, futures price is 3007.0, basis is 3.0, basis rate is 0.10%, and historical quantile is 53.30% [1] - Butadiene Rubber (BR2601): Spot price is 10400.0, futures price is 10400.0, basis is 0.0, basis rate is 0.00%, and historical quantile is 28.90% [1] - Glass (FG601): Spot price is 1041.0, futures price is 988.0, basis is 53.0, basis rate is - 5.36%, and historical quantile is 56.51% [1] - Soda Ash (SA601): Spot price is 1176.0, futures price is 1146.0, basis is 30.0, basis rate is - 2.62%, and historical quantile is 28.99% [1] - Natural Rubber (RU2601): Spot price is 15280.0, futures price is 14800.0, basis is 480.0, basis rate is 3.0%, and historical quantile is 69.59% [1] Stock Index Futures and Bond Futures - IF2512.CFE: Spot price is 4515.4, futures price is 4492.6, basis is - 22.8, basis rate is - 0.51%, and historical quantile is 20.30% [1] - IH2512.CFE: Spot price is 2972.3, futures price is 2962.4, basis is - 9.9, basis rate is - 0.33%, and historical quantile is 21.50% [1] - IC2512.CFE: Spot price is 6951.3, futures price is 6896.2, basis is - 55.1, basis rate is - 0.80%, and historical quantile is 16.40% [1] - IM2512.CFE: Spot price is 7257.5, futures price is 7179.0, basis is - 78.5, basis rate is - 1.09%, and historical quantile is 24.90% [1] - 2 - year Bond (TS2603): Spot price is 102.39, futures price is 100.02, basis is 2.37, basis rate is 0.06%, and historical quantile is 12.40% [1] - 5 - year Bond (TF2603): Spot price is 105.78, futures price is 99.51, basis is 6.27, basis rate is 0.03%, and historical quantile is 20.60% [1] - 10 - year Bond (T2603): Spot price is 107.91, futures price is 100.25, basis is 7.66, basis rate is 0.03%, and historical quantile is 19.20% [1] - 30 - year Bond (TL2603): Spot price is 129.32, futures price is 114.43, basis is 14.89, basis rate is 0.38%, and historical quantile is 65.80% [1]