1. Report Industry Investment Rating - No relevant content provided 2. Core Views of the Report - The report presents the basis, price ratio, and spread data of various commodities including thermal coal, energy chemicals, black metals, non - ferrous metals, agricultural products, and stock index futures on different dates in June 2025, which can help investors understand the market conditions and potential investment opportunities of these commodities [2][6][16][24][37][47] 3. Summary by Directory 3.1 Power Coal - Basis data from May 30, 2025, to June 6, 2025, are presented, and the basis is negative. The 5 - 1, 9 - 1, and 9 - 5 spreads are all 0 [2] 3.2 Energy Chemicals 3.2.1 Energy Commodities - Basis data of INE crude oil and fuel oil, and the price ratio of crude oil to asphalt from May 30, 2025, to June 6, 2025, are provided. The basis of INE crude oil is negative [6] 3.2.2 Chemical Commodities - Basis, inter - month spread, and inter - commodity spread data of various chemical commodities such as natural rubber, methanol, PTA, etc., from May 30, 2025, to June 6, 2025, are given [11] 3.3 Black Metals - Basis, inter - month spread, and inter - commodity data of black metals including rebar, iron ore, coke, and coking coal from May 30, 2025, to June 6, 2025, are presented [16] 3.4 Non - Ferrous Metals 3.4.1 Domestic Market - Domestic basis data of copper, aluminum, zinc, lead, nickel, and tin from May 30, 2025, to June 6, 2025, are provided [24] 3.4.2 London Market - LME price premium or discount, Shanghai - London price ratio, CIF price, domestic spot price, and import profit and loss data of copper, aluminum, zinc, lead, nickel, and tin on June 6, 2025, are given [30] 3.5 Agricultural Products - Basis, inter - month spread, and inter - commodity spread data of agricultural products such as soybeans, soybean meal, soybean oil, etc., from May 30, 2025, to June 6, 2025, are presented [37][39] 3.6 Stock Index Futures - Basis and inter - month spread data of CSI 300, SSE 50, CSI 500, and CSI 1000 index futures are provided [47]

Report Industry Investment Rating - No information provided in the documents. Core Viewpoints - No explicit core viewpoints are presented in the given documents. The reports mainly offer data on various financial products including futures, precious metals, and shipping container transportation. Summary by Relevant Categories 1. Stock Index Futures Spread - **IF, IH, IC, IM Spot - Futures Spread**: On May 20, 2025, the IF spot - futures spread was -33.95 (up 9.14 from the previous day), IH was -16.29 (up 5.17), IC was -97.79 (up 16.25), and IM was -119.94 (up 14.38) [1]. - **IF, IH, IC, IM Inter - delivery Spread**: Different inter - delivery spreads (e.g., next month - current month, quarterly month - current month) for each index showed various changes compared to the previous day, with some increasing and some decreasing [1]. - **Cross - variety Ratios**: Ratios such as CSI 500/CSI 300, IC/IF, etc., also had corresponding changes on May 20, 2025, compared to the previous day [1]. 2. Treasury Bond Futures Spread - **Basis**: On May 19, 2025, the TF basis was 1.0799 (up 0.0148 from the previous day), T basis was 1.6603 (down 0.0272), etc. [4]. - **Inter - delivery Spread**: For TS, TF, T, and TL, different inter - delivery spreads (e.g., current quarter - next quarter) had their respective changes compared to the previous day [4]. - **Cross - variety Spread**: Spreads like TS - TF, TS - T, etc., also showed changes on May 19, 2025 [4]. 3. Precious Metals Spot - Futures - **Domestic Futures Closing Prices**: On May 19, 2025, the AU2508 contract closed at 755.86 yuan/gram (up 0.54% from May 16), and the AG2506 contract closed at 8133 yuan/kg (up 0.40%) [5]. - **Foreign Futures Closing Prices**: The COMEX gold主力 contract closed at 3232.20 US dollars/ounce (up 0.84% from May 16), and the COMEX silver主力 contract closed at 32.50 (up 0.20%) [5]. - **Spot Prices**: London gold was at 3229.21 US dollars/ounce (up 0.86% from May 16), and Shanghai Gold Exchange's gold T + D was at 754.09 yuan/gram (up 0.95%) [5]. - **Basis**: The basis between gold TD and Shanghai gold主力 was -1.11 (up 3.05 from the previous day), and between silver TD and Shanghai silver主力 was -20 (up 19) [5]. - **Ratios**: The COMEX gold/silver ratio was 99.47 (up 0.63 from the previous day), and the SHFE gold/silver ratio was 92.94 (up 0.13) [5]. - **Interest Rates and Exchange Rates**: The 10 - year US Treasury yield was 4.46% (up 0.7% from the previous day), and the US dollar index was 100.37 (down 0.60%) [5]. - **Inventory and Holdings**: The SHFE gold inventory remained unchanged at 17238, and the SPRD gold ETF holding was 921 (up 0.25% from the previous day) [5]. 4. Container Shipping Industry Spot - Futures - **Spot Quotes**: On May 20, 2025, MAERSK's Shanghai - Europe 6 - week future freight rate was 1574 US dollars/FEU (down 4.26% from May 19), and CMA's was 2954 (up 8.76%) [7]. - **Container Shipping Indexes**: The SCFIS (European route) settlement price index on May 19 was 1265.30 (down 2.86% from May 12), and the SCFI composite index was 1479.39 (up 9.98% from February 16) [7]. - **Futures Prices and Basis**: On May 19, 2025, the EC2602 contract was at 1451.2 (up 2.23% from May 16), and the basis of the main contract was -506.9 (down 32.56% from the previous day) [7]. - **Fundamental Data**: On May 19, 2025, the global container shipping capacity supply was 3228.60 FITEU (up 0.10% from May 18), and the Shanghai port's vessel berthing number was 317.00 (down 4.52% from the previous day) [7]. 5. Overseas and Domestic Data/Information - **Overseas Data**: On May 20, 2025, at 16:00, the eurozone's seasonally - adjusted current account balance for March was to be released, and at 22:00, the eurozone's May consumer confidence index preliminary value was due [9]. - **Domestic Data**: At 9:00 on May 20, 2025, China's 1 - year loan prime rate was to be announced, and various industry - specific data such as manganese ore inventory in Qinzhou Port and glass production - sales ratio were also to be reported [9].

Report Industry Investment Rating - No information provided in the given reports. Core Viewpoints - No explicit core viewpoints are presented in the reports. The reports mainly provide data on various financial products such as futures spreads, prices, and related indicators. Summary by Related Catalogs 1. Stock Index Futures Spread Daily Report - **IF期现价差 & 跨期价差**: The IF spot - futures spread is -35.81, up 45 from the previous day, with a 1 - year historical quantile of 10.20% and an all - time quantile of 8.60%. For IF inter - period spreads, e.g., the spread between the next - month and current - month contracts is -35.60, up 5.40, with a 1 - year quantile of 2.00% and an all - time quantile of 9.10% [1]. - **IH期现价差 & 跨期价差**: The IH spot - futures spread is -16.18, up 3.67, with a 1 - year quantile of 15.90% and an all - time quantile of 11.90%. The spread between the next - month and current - month contracts of IH is -18.40, up 2.00, with a 1 - year quantile of 11.00% and an all - time quantile of 11.80% [1]. - **IC期现价差 & 跨期价差**: The IC spot - futures spread is -101.32, up 25.75, with a 1 - year quantile of 6.50% and an all - time quantile of 3.20%. The spread between the next - month and current - month contracts of IC is -102.20, up 10.40, with a 1 - year quantile of 0.80% and an all - time quantile of 2.30% [1]. - **IM期现价差 & 跨期价差**: The IM spot - futures spread is -117.37, up 37.04, with a 1 - year quantile of 90.00% and an all - time quantile of 6.00%. The spread between the next - month and current - month contracts of IM is -113.60, up 16.60, with a 1 - year quantile of 15.00% and an all - time quantile of 0.70% [1]. - **跨品种比值**: Ratios like CSI 500/HS300 is 1.4707, down 0.0132, with a 1 - year quantile of 45.00% and an all - time quantile of 36.10%. IC/IF is 1.4582, down 0.0101, with a 1 - year quantile of 40.50% and an all - time quantile of 48.90% [1]. 2. Treasury Bond Futures Spread Daily Report - **基差**: TS basis is 1.3819, down 0.0297, with an all - time quantile of 16.00%. TF basis is 1.1686, up 0.1050, with an all - time quantile of 41.60%. T basis is -0.0631, up 0.2955, with an all - time quantile of 3.60% [5]. - **跨期价差**: For TS inter - period spreads, the spread between the current - quarter and next - quarter contracts is -0.1280, up 0.0420, with an all - time quantile of 6.80%. For TF, the spread between the current - quarter and next - quarter contracts is -0.2700, up 0.0400, with an all - time quantile of 10.20% [5]. - **跨品种价差**: TS - TF is 0.0910, up 0.0470, with an all - time quantile of 4.70%. TS - T is -6.2430, up 0.1260, with an all - time quantile of 4.00% [5]. 3. Precious Metals Spot - Futures Daily Report - **国内期货收盘价**: The closing price of the AU2506 contract is 761.72, down 5.96, with a decline rate of -0.78%. The AG2506 contract is 8195, down 24, with a decline rate of -0.29% [8]. - **外盘期货收盘价**: The closing price of the COMEX gold main contract is 3180.70, down 73.80, with a decline rate of -2.27%. The COMEX silver main contract is 32.39, down 0.70, with a decline rate of -2.12% [8]. - **现货价格**: London gold is 3176.58, down 72.90, with a decline rate of -2.24%. London silver is 32.20, down 0.69, with a decline rate of -2.10% [8]. - **基差**: The basis of gold TD - Shanghai gold main contract is -3.12, up 1.16, with a 1 - year quantile of 21.20%. The basis of silver TD - Shanghai silver main contract is -23, down 18, with a 1 - year quantile of 43.70% [8]. - **比价**: COMEX gold/silver is 98.20, down 0.15, with a decline rate of -0.16%. SHFE gold/silver is 92.95, down 0.45, with a decline rate of -0.49% [8]. - **利率与汇率**: The 10 - year US Treasury yield is 4.49, up 0.04, with an increase rate of 0.9%. The US dollar index is 101.07, up 0.08, with an increase rate of 0.08% [8]. - **库存与持仓**: The SHFE gold inventory is 17238, unchanged. The SHFE silver inventory is 919463, down 12721, with a decline rate of -1.36% [8]. 4. Container Shipping Industry Spot - Futures Daily Report - **现货报价**: MAERSK's Shanghai - Europe 6 - week future freight rate is 1547, down 4, with a decline rate of -0.26%. CMA CGM's is 2534, up 107, with an increase rate of 4.41% [9]. - **集运指数**: The settlement price index of SCFIS (European route) is 1302.62, down 76.5, with a decline rate of -5.54%. SCFIS (US West route) is 1455.31, up 134.6, with an increase rate of 10.19% [9]. - **期货价格及基差**: The price of EC2602 is 1518.3, up 103.8, with an increase rate of 7.34%. The basis of the main contract (EC2506) is -423.4, down 337.3, with a change rate of 391.56% [9]. - **基本面数据**: Global container shipping capacity supply is 3223.63 million TEU, up 1.12 million TEU, with an increase rate of 0.03%. Shanghai port's on - time rate is 29.02, down 4.41, with a decline rate of -13.19% [9]. 5. Trading Calendar - **海外数据/资讯**: Eurozone's Q1 GDP annual revised rate, seasonally - adjusted employment quarterly final rate, and other economic indicators are to be released at specific times. The US Initial Jobless Claims for the week ending May 10th and other data are also scheduled [11]. - **国内数据/资讯**: There are 1250 billion yuan of 1 - year MLF and 1586 billion yuan of 7 - day reverse repurchases due today. Shandong local refinery capacity utilization rate and other industry - related data are to be released at different times [11].