光期黑色：铁矿石基差及价差监测日报-20260317

Report Overview - The report is a daily monitoring report on the basis and spread of iron ore futures, released by Everbright Futures on March 17, 2026 [1] 1. Futures Contract Price and Spread 1.1 Futures Contract Price - The closing price of I05 contract is 809.0 yuan/ton, down 2.5 yuan from the previous day; the closing price of I09 contract is 777.5 yuan/ton, unchanged from the previous day; the closing price of I01 contract is 758.5 yuan/ton, unchanged from the previous day [3] 1.2 Futures Contract Spread - The spread of I05 - I09 is 31.5 yuan/ton, down 2.5 yuan from the previous day; the spread of I09 - I01 is 19.0 yuan/ton, unchanged from the previous day; the spread of I01 - I05 is -50.5 yuan/ton, up 2.5 yuan from the previous day [3] 2. Basis 2.1 Basis Data - The basis data of various iron ore varieties are presented, including the current price, previous day's price, change, delivery cost, current basis, previous day's basis, and change. For example, the current basis of Carajás fines is 103 yuan/ton, unchanged from the previous day; the current basis of BRBF is 41 yuan/ton, down 3 yuan from the previous day [7] 2.2 Basis Charts - Multiple basis charts are provided, showing the basis trends of different iron ore varieties over time, such as Brazilian fines, Australian medium - grade fines, Australian low - grade fines, and domestic ores [9][10][11] 3. Variety Spread 3.1 Variety Spread Data - The variety spread data of different iron ore products are given, including the current value, previous day's value, and change. For instance, the spread of PB lump - PB fines is 113.0 yuan/ton, down 3.0 yuan from the previous day; the spread of PB fines - mixed fines is 72.0 yuan/ton, up 5.0 yuan from the previous day [16] 3.2 Variety Spread Charts - A series of charts are presented to show the spread trends of different iron ore product combinations, such as lump - fines spread, high - medium grade fines spread, medium - low grade fines spread, etc. [19][20][21] 4. Contract Adjustment - According to relevant regulations of the Dalian Commodity Exchange, 4 new deliverable varieties (Benxi Iron concentrate, IOC6, KUMBA, Ukrainian iron concentrate) are added, and the brand premium and discount of all new varieties are set to 0, effective from the I2202 contract. The brand premium and discount of existing varieties are adjusted, with only PB fines, BRBF, and Carajás fines having a brand premium of 15 yuan/ton, and the rest being 0 yuan/ton. The quality difference and premium - discount rules for substitutes are also modified [14] - Four more deliverable brands (Taigang iron concentrate, Magang iron concentrate, Minmetals standard fines, SP10 fines) are added, and their brand premium and discount are all 0 yuan/ton. The adjusted deliverable brands and their premium - discount apply to contracts starting from I2312 [14][15] 5. Research Team - The black research team of Everbright Futures includes Qiu Yuecheng, Zhang Xiaojin, Liu Xi, and Zhang Chunjie, each with rich experience and professional qualifications in the field of black metal research [25]