（2025年12月29日）：宝城期货品种套利数据日报-20251229

1. Report Industry Investment Rating - No information about the industry investment rating is provided in the report. 2. Core Viewpoints - The report presents the daily arbitrage data of various futures varieties on December 29, 2025, including power coal, energy chemicals, black metals, non - ferrous metals, agricultural products, and stock index futures. It details the basis, inter - period spreads, and inter - variety spreads of these commodities [1][5][21][27][42][53]. 3. Summary by Directory 3.1 Power Coal - The report provides the basis data of power coal from December 22 to December 26, 2025. The basis values are - 106.4, - 114.4, - 120.4, - 125.4, and - 129.4 respectively. The 5 - 1, 9 - 1, and 9 - 5 spreads are all 0.0 during this period [2]. 3.2 Energy and Chemicals - Energy Commodities: The basis data of fuel oil and the ratio data of crude oil to asphalt from December 22 to December 26, 2025 are presented. The basis of INE crude oil on December 26 is 6.09 [7]. - Chemical Commodities: - Basis: The basis data of rubber, methanol, PTA, LLDPE, PVC, and PP from December 22 to December 26, 2025 are provided. For example, the basis of rubber on December 26 is - 480 [9]. - Inter - period Spreads: The 5 - 1, 9 - 1, and 9 - 5 spreads of rubber, methanol, PTA, LLDPE, PVC, PP, and ethylene glycol are given. For instance, the 5 - 1 spread of rubber is 40 [11]. - Inter - variety Spreads: The inter - variety spreads of LLDPE - PVC, LLDPE - PP, PP - PVC, and PP - 3*methanol from December 22 to December 26, 2025 are shown. On December 26, the LLDPE - PVC spread is 1627 [11]. 3.3 Black Metals - Inter - period Spreads: The 5 - 1, 9(10) - 1, and 9(10) - 5 spreads of rebar, iron ore, coke, and coking coal are presented. For example, the 5 - 1 spread of rebar is 8.0 [20]. - Inter - variety Spreads: The inter - variety spreads of rebar/iron ore, rebar/coke, coke/coking coal, and rebar - hot - rolled coil from December 22 to December 26, 2025 are provided. On December 26, the rebar/iron ore ratio is 4.00 [20]. - Basis: The basis data of rebar, iron ore, coke, and coking coal from December 22 to December 26, 2025 are shown. On December 26, the basis of rebar is 162.0 [21]. 3.4 Non - ferrous Metals - Domestic Market: - The domestic basis data of copper, aluminum, zinc, lead, nickel, and tin from December 22 to December 26, 2025 are provided. On December 26, the basis of copper is - 660 [28]. - London Market: - The LME spreads, Shanghai - London ratios, CIF prices, domestic spot prices, and import profit and loss data of copper, aluminum, zinc, lead, nickel, and tin on December 24, 2025 are presented. The LME spread of copper is 19.69 [36]. 3.5 Agricultural Products - Basis: The basis data of soybeans No. 1, soybeans No. 2, soybean meal, soybean oil, and corn from December 22 to December 26, 2025 are provided. On December 26, the basis of soybeans No. 1 is - 108 [43]. - Inter - period Spreads: The 5 - 1, 9 - 1, and 9 - 5 spreads of soybeans No. 1, soybeans No. 2, soybean meal, soybean oil, rapeseed meal, rapeseed oil, palm oil, corn, sugar, and cotton are given. For example, the 5 - 1 spread of soybeans No. 1 is 40 [43]. - Inter - variety Spreads: The inter - variety spreads of soybeans No. 1/corn, soybeans No. 2/corn, soybean oil/soybean meal, soybean meal - rapeseed meal, soybean oil - palm oil, rapeseed oil - soybean oil, and corn - corn starch from December 22 to December 26, 2025 are shown. On December 26, the soybeans No. 1/corn ratio is 1.87 [43]. 3.6 Stock Index Futures - Basis: The basis data of CSI 300, SSE 50, CSI 500, and CSI 1000 from December 22 to December 26, 2025 are provided. On December 26, the basis of CSI 300 is 18.84 [54]. - Inter - period Spreads: The next - month - current - month and next - quarter - current - quarter spreads of CSI 300, SSE 50, CSI 500, and CSI 1000 are given. The next - month - current - month spread of CSI 300 is - 13.4 [54].