光期黑色：铁矿石基差及价差监测日报-20260107

Report Overview - Report Title: "光期黑色：铁矿石基差及价差监测日报" - Date: January 7, 2026 - Report Type: Daily monitoring report on iron ore basis and spreads 1. Contract Spreads - Price Changes: I05 closed at 801.0 yuan/ton, up 4.0 yuan from the previous day; I09 closed at 780.0 yuan/ton, up 5.0 yuan; I01 closed at 826.0 yuan/ton, up 11.5 yuan [3]. - Spread Changes: The spread of I05 - I09 was 21.0 yuan/ton, down 1.0 yuan; I09 - I01 was -46.0 yuan/ton, down 6.5 yuan; I01 - I05 was 25.0 yuan/ton, up 7.5 yuan [3]. 2. Basis 2.1 Basis Data - Price and Basis Changes: For various iron ore varieties such as Carajás fines (卡粉), BRBF, Newman fines, etc., prices and basis values changed. For example, Carajás fines' price increased by 6.0 yuan to 901 yuan, and its basis increased by 3 to 60 [5]. 2.2 Basis Charts - Chart Information: There are multiple charts showing the basis of different iron ore types including Brazilian fines, Australian medium - grade fines, Australian low - grade fines, and domestic ores over time from April 2025 to December 2025 [7][8][9]. 3. Variety Spreads 3.1 Variety Spread Data - Spread Changes: For example, the spread of PB lump - PB fines was 70.0 yuan/ton, up 1.0 yuan; PB fines - mixed fines was 63.0 yuan/ton, down 1.0 yuan [12]. 3.2 and 3.3 Variety Spread Charts - Chart Information: There are numerous charts presenting different variety spreads such as lump - powder spreads, high - medium grade powder spreads, medium - low grade powder spreads, etc., with data from relevant sources [15][16][18]. 4. Contract and Rule Adjustments - New Deliverable Varieties: Four new deliverable varieties (本钢精粉, IOC6, KUMBA, Ukrainian concentrate) were added to the I2202 contract with a brand premium of 0 [10]. - Brand Premium Adjustment: Only PB fines, BRBF, and Carajás fines have a brand premium of 15 yuan/ton, and the rest are 0 for new rules [10]. - Quality Difference and Premium Adjustment: The allowable range of iron grade and other element indicators was adjusted, and a dynamic adjustment mechanism for iron element premium (X) was introduced [10]. - New Deliverable Brands: Four new deliverable brands (太钢精粉, 马钢精粉, 五矿标准粉, SP10粉) were added with a brand premium of 0 for I2312 and subsequent contracts [10]. 5. Research Team - Team Members: The black research team includes Qiu Yuecheng, Zhang Xiaojin, Liu Xi, and Zhang Chunjie, each with rich experience and relevant qualifications [22].