Guang Da Qi Huo·2026-01-27 05:20Report Overview - The report is titled "Guangqi Black: Iron Ore Basis and Spread Monitoring Daily Report" dated January 27, 2026, focusing on iron ore futures contract spreads, basis, and variety spreads [1] 1. Contract Spreads - The closing prices of I05, I09, and I01 contracts are 784.5, 766.0, and 755.0 respectively, showing changes of -10.5, -11.5, and -9.5 compared to the previous day [3] - The spreads of I05 - I09, I09 - I01, and I01 - I05 are 18.5, 11.0, and -29.5 respectively, with changes of 1.0, -2.0, and 1.0 from the previous day [3] 2. Basis 2.1 Basis Data - For various iron ore varieties such as Carajás fines (Carajás fines), BRBF, Newman fines, etc., the report provides today's prices, previous day's prices, price changes, delivery costs, today's basis, previous day's basis, and basis changes [7] 2.2 Basis Charts - There are multiple charts showing the basis of different iron ore types including Brazilian fines, Australian medium - grade fines, Australian low - grade fines, domestic ores, etc., with data from 2025 - 04 to 2025 - 12 [9][10][11] 3. Variety Spreads 3.1 Variety Spread Data - The report presents the spreads between different iron ore varieties such as PB lump - PB fines, Newman lump - Newman fines, Carajás fines - Newman fines, etc., along with their values and changes compared to the previous day [14] 3.2 Variety Spread Charts - There are multiple charts showing block - powder spreads, high - medium grade fines spreads, medium - low grade fines spreads, etc. [15][16][17] Regulatory Changes - The Dalian Commodity Exchange has made adjustments to the deliverable brands and their premiums/discounts for iron ore futures contracts. The adjusted rules apply to I2312 and subsequent contracts [12][13] Research Team - The black research team includes Qiu Yuecheng, Zhang Xiaojin, Liu Xi, and Zhang Chunjie, each with their own professional backgrounds and qualifications [22]