光期黑色：铁矿石基差及价差监测日报-20260330

Report Information - Report Title: "Guangda Futures Black: Iron Ore Basis and Spread Monitoring Daily Report" [1] - Report Date: March 30, 2026 [1] 1. Futures Contract Information 1.1 Futures Contract Prices and Changes - I05 closed at 812.0 today, down 5.0 from the previous day's 817.0 [3] - I09 closed at 788.0 today, up 0.5 from the previous day's 787.5 [3] - I01 closed at 769.5 today, up 2.0 from the previous day's 767.5 [3] 1.2 Futures Contract Spreads and Changes - The spread between I05 and I09 was 24.0 today, down 5.5 from the previous day's 29.5 [3] - The spread between I09 and I01 was 18.5 today, down 1.5 from the previous day's 20.0 [3] - The spread between I01 and I05 was -42.5 today, up 7.0 from the previous day's -49.5 [3] 2. Basis Information 2.1 Basis Data - For various iron ore varieties, such as Carajás fines (Kafen), the price today was 945, down 8.0 from the previous day; the basis today was 97, down 4 from the previous day [7] - For BRBF, the price today was 817, down 8.0 from the previous day; the basis today was 32, down 4 from the previous day [7] 2.2 Basis Rule Adjustments - Starting from the I2202 contract, 4 new deliverable varieties (Benxi Iron Concentrate, IOC6, KUMBA, Ukrainian Iron Concentrate) were added with a brand premium of 0 [16] - The brand premiums of PB fines, BRBF, and Carajás fines were adjusted to 15 yuan/ton, and the premiums of other deliverable brands were set to 0 [16] - The allowable range of iron grade was adjusted to ≥56%, and the allowable ranges of silica, alumina, phosphorus, and sulfur were set to ≤8.5%, ≤3.5%, ≤0.15%, and ≤0.2% respectively, with more detailed quality premium and discount rules [16] - The premium and discount value of the iron element index is dynamically adjusted by X, which is determined semi - annually. Currently, X = 1.5 [16] - Starting from the I2312 contract, new deliverable brands (Taigang Iron Concentrate, Magang Iron Concentrate, Minmetals Standard Fines, SP10 Fines) were added with a brand premium of 0 [16] 3. Variety Spread Information 3.1 Variety Spread Data - The spread between PB lump and PB fines was 112.0 today, up 3.0 from the previous day [18] - The spread between Newman lump and Newman fines was 140.0 today, down 5.0 from the previous day [18] 3.2 Variety Spread Charts - Charts show various variety spreads, including block - powder spreads, high - medium grade powder spreads, medium - low grade powder spreads, etc. [21][22][23] 4. Research Team Information - Qiu Yuecheng, the assistant director of the Guangda Futures Research Institute and the director of black research, has nearly 20 years of experience in the steel industry [27] - Zhang Xiaojin, the director of resource product research at the Guangda Futures Research Institute, has rich experience in futures analysis [27] - Liu Xi, a black researcher at the Guangda Futures Research Institute, is good at fundamental supply - demand analysis based on industrial chain data [27] - Zhang Chunjie, a black researcher at the Guangda Futures Research Institute, has experience in combining financial theory with industrial operations [27]