Report Summary 1) Report Industry Investment Rating There is no information about the report industry investment rating in the provided content. 2) Core Viewpoint of the Report There is no clear core viewpoint presented in the given content. It mainly provides a comprehensive list of various commodity futures and their corresponding spot prices, futures prices, basis, basis rates, historical quantiles, and spot references. 3) Summary by Categories Metals - **Iron Ore (12509)**: Spot price not clear, futures price 813, basis 27, basis rate 3.39%, historical quantile not provided, reference: 62.5% BRBF (Vale) at Rizhao Port [1] - **Coke (J2509)**: No data provided [1] - **Coking Coal (JM2509)**: Spot price 1260, futures price 1101, basis 160, basis rate 14.49%, historical quantile 69.30%, reference: S1.3 G75 Main Coking Coal (Meng 5) at Shaheyi [1] - **Copper (CU2509)**: Spot price 79075, futures price 79000, basis 75, basis rate 0.09%, historical quantile 50.20%, reference: SMM 1 Electrolytic Copper Average Price [1] - **Aluminum (AL2509)**: Spot price 20660, futures price 20615, basis 45, basis rate 0.22%, historical quantile 61.87%, reference: SMM A00 Aluminum Average Price [1] - **Zinc (ZN2509)**: No data provided [1] - **Tin (SN2509)**: Spot price 268800, futures price 267880, basis 920, basis rate 0.34%, historical quantile 71.66%, reference: SMM 1 Tin Average Price [1] - **Gold (AU2510)**: Spot price 771.6, futures price 774.8, basis -3.2, basis rate -0.41%, historical quantile 18.60%, reference: Shanghai Gold Exchange Gold Spot AU (T+D) [1] - **Silver (AG2510)**: Spot price 9186.0, futures price 9212.0, basis -26.0, basis rate -0.28%, historical quantile 32.70%, reference: Shanghai Gold Exchange Silver Spot AG (T+D) [1] - **Alumina (AO2509)**: Spot price 3244, futures price 3243, basis not clear, basis rate 0.03%, historical quantile 33.48%, reference: SMM Alumina Index Average Price [1] - **Nickel (NISE09)**: Spot price 122500, futures price 121620, basis 880, basis rate 0.72%, historical quantile 85.62%, reference: SMM 1 Imported Nickel Average Price [1] - **Stainless Steel (SS2509)**: Spot price 13070, futures price 12840, basis 230, basis rate 1.79%, historical quantile 44.42%, reference: 304/2B:2*1240*C: Wuxi Hongwang (Including Trimming Fee) [1] - **Silicon Iron (SF509)**: Spot price 5878, futures price 5840, basis 38, basis rate 0.65%, historical quantile 63.00%, reference: Converted Price: 72 Silicon Iron Qualified Blocks: Inner Mongolia - Tianjin Warehouse Receipt [1] - **Silicon Manganese (SM509)**: Spot price 5970, futures price 6028, basis -58, basis rate -0.96%, historical quantile 17.80%, reference: Converted Price: 6517 Silicon Manganese: Inner Mongolia - Hubei Warehouse Receipt [1] - **Rebar (RB2510)**: Spot price 3390, futures price 3248, basis 142, basis rate 4.37%, reference: HRB400 20mm: Shanghai [1] - **Hot Rolled Coil (HC2510)**: Spot price 3440, futures price 3397, basis 43, basis rate 1.27%, reference: Q235B: 4.75mm: Shanghai [1] Chemicals and Energy - **Carbonate Lithium (LC2509)**: Spot price 73900, futures price 73120, basis 780, basis rate 1.07%, historical quantile 62.77%, reference: SMM Battery - Grade Carbonate Lithium Average Price [1] - **Industrial Silicon (SI2509)**: Spot price 9950, futures price 8915, basis 1035, basis rate 11.61%, reference: SMM Annual Flux 215530 Average Price [1] - **PTA (TA509)**: Spot price 4800.0, futures price 4812.0, basis -12.0, basis rate -0.29%, historical quantile 47.10%, reference: Market Price (Middle Price): Purified Terephthalic Acid (PTA): East China Region [1] - **Ethylene Glycol (EG2509)**: Spot price 4500.0, futures price 4436.0, basis 64.0, basis rate 1.44%, historical quantile 83.00%, reference: Market Price (Middle Price): Ethylene Glycol (MEG): East China Region [1] - **Polyester Staple Fiber (PF509)**: Spot price 6610.0, futures price 6482.0, basis 128.0, basis rate 1.97%, historical quantile 73.60%, reference: Market Price (Mainstream Price): Polyester Staple Fiber (1.4D*38mm (Direct Spinning)): East China Market [1] - **Styrene (EB2509)**: Spot price 7370.0, futures price 7358.0, basis 12.0, basis rate 0.16%, historical quantile 28.90%, reference: China: East China: Market Price (Spot Benchmark Price): Styrene [1] - **LLDPE (L2509)**: Spot price 7340.0, futures price 7335.0, basis 5.0, basis rate 0.07%, historical quantile 21.10%, reference: Duty - Paid Self - Pick - up Price (Middle Price): Linear Low - Density Polyethylene LLDPE (Film Grade): Shandong [1] - **PP (PP2509)**: Spot price 7165.0, futures price 7130.0, basis 35.0, basis rate 0.49%, historical quantile 31.40%, reference: Duty - Paid Self - Pick - up Price (Middle Price): Polypropylene PP (Drawing Grade, Melt Index 2 - 4): Zhejiang [1] - **Caustic Soda (SH509)**: Spot price 2593.8, futures price 2593.0, basis 0.8, basis rate 0.03%, historical quantile 48.00%, reference: Market Price (Mainstream Price) Caustic Soda (32% Ion - Membrane Caustic Soda): Shandong Market: Converted to 100% [1] - **LPG (PG2509)**: Spot price 4448.0, futures price 3992.0, basis 456.0, basis rate 11.42%, historical quantile 62.90%, reference: Market Price: Liquefied Petroleum Gas: Guangzhou Region [1] - **Asphalt (BU2509)**: Spot price 3775.0, futures price 3569.0, basis 206.0, basis rate 5.77%, historical quantile 82.70%, reference: Market Price (Mainstream Price): Asphalt (Heavy - Traffic Asphalt): Shandong Region [1] - **Butadiene Rubber (BR2509)**: No data provided [1] - **Glass (FG509)**: Spot price 1200.0, futures price 1223.0, basis -23.0, basis rate -1.98%, historical quantile 57.77%, reference: Float Glass: 5mm: Large Plate: Market Price: Shahe: Shahe Great Wall Glass (Daily) [1] - **Soda Ash (SA509)**: Spot price 1320.0, futures price 1316.0, basis 4.0, basis rate 0.30%, historical quantile 33.61%, reference: Soda Ash: Heavy - Duty: Market Price: Shahe (Daily) [1] - **Urea (UR509)**: Spot price 1780.0, futures price 1738.0, basis 42.0, basis rate 2.42%, historical quantile 24.00%, reference: Market Price (Mainstream Price): Urea (Small Granules): Shandong Region [1] - **Methanol (MA509)**: Spot price 2392.5, futures price 2404.0, basis -11.5, basis rate -0.48%, historical quantile 27.30%, reference: China: Jiangsu Taicang: Market Price (Spot Benchmark Price): Methanol [1] - **PVC (V2509)**: Spot price 5100.0, futures price 5149.0, basis -49.0, basis rate -0.99%, historical quantile 67.80%, reference: China: Changzhou Market: Market Price (Mainstream Price): Polyvinyl Chloride (SG - 5) [1] - **Butadiene Rubber (BR9000)**: Spot price 12100.0, futures price 11955.0, basis 145.0, basis rate 1.21%, historical quantile 44.10%, reference: China: Distribution Price: Butadiene Rubber (Daqing, BR9000): PetroChina East China [1] - **Natural Rubber (RU2509)**: Spot price 15100.0, futures price 15065.0, basis 35.0, basis rate 0.23%, historical quantile 96.87%, reference: Shanghai Market Price: Natural Rubber (Yunnan State - Owned Full - Latex) [1] Agricultural Products - **Rapeseed Meal (RM509)**: Spot price 2540, futures price 2660.0, basis -120.0, historical quantile 15.90%, reference: Guangdong Zhanjiang Factory Price: Common Rapeseed Meal [1] - **Rapeseed Oil (O1509)**: Spot price 9490, futures price 9406.0, basis 84.0, basis rate 0.89%, historical quantile 36.50%, reference: Jiangsu: Nantong: Factory Price: Fourth - Grade Rapeseed Oil [1] - **Corn (C2509)**: Spot price 2350, futures price 2319.0, basis 31.0, basis rate 1.34%, historical quantile 63.30%, reference: FOB Price: Corn: Xizhou Port [1] - **Corn Starch (CS2509)**: Some data missing, reference: Jilin: Changchun: Factory Price: Corn Starch [1] - **Live Hogs (LH2509)**: Spot price 14080, futures price 14125.0, basis -45.0, basis rate -0.32%, historical quantile 41.30%, reference: Henan Factory Price: Live Hogs (External Ternary) [1] - **Eggs (JD2509)**: Spot price 3040, futures price 3576.0, basis -536.0, basis rate -14.99%, historical quantile 5.90%, reference: Hebei: Shijiazhuang: Average Price: Eggs [1] - **Cotton (CF509)**: Spot price 15473, futures price 14075.0, basis 1398.0, basis rate 9.93%, reference: Xinjiang: Factory - Arrival Price: Cotton: 3128B [1] - **Apples (AP510)**: Spot price 8600, futures price 8052.0, basis 548.0, basis rate 6.81%, historical quantile 43.40%, reference: Apples: Delivery Theoretical Price (Daily/Steel Union) [1] - **Jujubes (CJ601)**: Spot price 8300, futures price 10695.0, basis -2395.0, basis rate -22.39%, historical quantile 6.50%, reference: Grey Jujubes: First - Grade: Wholesale Price: Hebei (Steel Union) [1] - **Soybean Meal (M2509)**: Spot price 2860, futures price 2990.0, basis -130.0, basis rate -4.35%, historical quantile 15.30%, reference: Jiangsu·Zhangjiagang: Factory Price: Common Protein Soybean Meal [1] - **Soybean Oil (Y2509)**: Spot price 8180, futures price 8120.0, basis 60.0, basis rate 0.74%, historical quantile 4.30%, reference: Jiangsu: Zhangjiagang: Factory Price: Fourth - Grade Soybean Oil [1] - **Palm Oil (P2509)**: Spot price 8940, futures price 8946.0, basis -6.0, basis rate -0.07%, historical quantile 15.20%, reference: Delivery Price: Palm Oil: Huangpu Port [1] - **Sugar (SR509)**: Spot price 6120, futures price 5845.0, basis 275.0, basis rate 4.70%, historical quantile 53.80%, reference: Spot Price: White Sugar: Liuzhou Platform [1] - **Paraxylene (PX509)**: Spot price 7018.2, futures price 6890.0, basis 128.2, basis rate 1.86%, historical quantile 61.40%, reference: China Main Port: Spot Price (CFR): Paraxylene: Converted to RMB [1] Financial Futures - **IF2509.CFF**: Spot price 4135.8, futures price 4122.0, basis -13.8, basis rate -0.34%, historical quantile 30.10% [1] - **IC2509.CFE**: Some data missing [1] - **IM2509.CFE**: Spot price 6730.0, futures price 6602.0, basis -128.0, basis rate -1.94%, historical quantile 9.60% [1] - **2 - Year Treasury Bond (TS2509)**: Spot price 100.27, futures price 102.36, basis 0.00, historical quantile 25.50%, conversion factor 0.9796 [1] - **10 - Year Treasury Bond (T2509)**: Spot price 100.79, futures price 108.40, basis 0.05, basis rate 0.04%, historical quantile 20.80%, conversion factor provided [1] - **5 - Year Treasury Bond (TF2509)**: Spot price 100.71, futures price 105.72, basis 0.04, basis rate 0.04%, historical quantile 32.50%, conversion factor 0.9522 [1] - **30 - Year Treasury Bond (TL2509)**: Spot price 134.26, futures price 118.80, basis 0.26, basis rate 0.22%, historical quantile 35.20%, conversion factor 1.12

Group 1: Metals Ferrous Metals - The spot price of 72-silicon ferroalloy qualified block in Inner Mongolia - Tianjin warehouse receipt is 5,878, with a basis of 124 and a historical quantile of 0.03%. The futures price is 5,754 [1]. - The spot price of 65-silicon manganese in Inner Mongolia - Hubei warehouse receipt is 2,950, with a basis of 25.60%. The futures price is 5,948, and the converted price is 6,517 [1]. - The spot price of HRB400 20mm rebar in Shanghai is 3,380, with a basis of 86 and a historical quantile of 45.20%. The futures price is 3,294 [1]. - The spot price of Q235B 4.75mm hot-rolled coil in Shanghai is 3,470, with a basis of 14 and a historical quantile of 23.40%. The futures price is 3,456 [1]. - The spot price of 62.5% Brazilian blended powder (BRBF) from Vale at Rizhao Port is 839, with a basis of 25.50%. The futures price is 811, and the converted price is based on the corresponding standard [1]. - The spot price of quasi - first - grade metallurgical coke A13, S0.7, CSR60, MT7 at Rizhao Port is 1,735, with a basis of - 11.28%. The futures price is 1,539 [1]. - The spot price of S1.3 G75 main coking coal (Mongolian 5) at Shaheyi is 1,199, with a basis of - 5.88%. The futures price is 1,134 [1]. Non - ferrous Metals - The spot price of SMM 1 electrolytic copper is 79,795, with a basis of - 95 and a historical quantile of 32.91%. The futures price is 79,890 [1]. - The spot price of SMM A00 aluminum is 20,720, with a basis of - 40 and a historical quantile of 39.37%. The futures price is 20,760 [1]. - The spot price of SMM alumina index is 3,427, with a basis of - 184 and a historical quantile of 6.82%. The futures price is 3,243 [1]. - The spot price of SMM 1 zinc ingot is 22,810, with a basis of - 15 and a historical quantile of 10.41%. The futures price is 23,015 [1]. - The spot price of SMM 1 tin is 272,400, with a basis of 1,550 and a historical quantile of 13.75%. The futures price is 273,950 [1]. - The spot price of SMM 1 imported nickel is 124,360, with a basis of - 260 and a historical quantile of 42.29%. The futures price is 124,100 [1]. - The spot price of 304/2B:2*1240*C stainless steel from Wuxi Hongwang (including trimming fee) is 13,070, with a basis of 135 and a historical quantile of 33.04%. The futures price is 12,935 [1]. - The spot price of SMM battery - grade lithium carbonate is 76,680, with a basis of - 6,130 and a historical quantile of 4.40%. The futures price is 70,550 [1]. - The spot price of SMM industrial silicon is 10,000, with a basis of 475 and a historical quantile of 35.29%. The futures price is not clearly presented in a comparable way [1]. Precious Metals - The spot price of Shanghai Gold Exchange's gold AU (T + D) is 778.7, with a basis of - 3.6 and a historical quantile of 14.30%. The futures price is 775.1 [1]. - The spot price of Shanghai Gold Exchange's silver AG (T + D) is 9,386.0, with a basis of - 35.0 and a historical quantile of 17.80%. The futures price is 9,351.0 [1]. Group 2: Agricultural Products - The spot price of common soybean meal in Jiangsu Zhangjiagang is 2,860, with a basis of - 165.0 and a historical quantile of 9.20%. The futures price is 3,025.0 [1]. - The spot price of fourth - grade soybean oil in Jiangsu Zhangjiagang is 8,200, with a basis of 34.0 and a historical quantile of 2.10%. The futures price is 8,166.0 [1]. - The spot price of palm oil at Huangpu Port is 9,104.0, with a basis of - 44.0 and a historical quantile of 8.60%. The futures price is 9,060 [1]. - The spot price of common rapeseed meal in Guangdong Zhanjiang is 2,682.0, with a basis of - 122.0 and a historical quantile of 15.20%. The futures price is 2,560 [1]. - The spot price of fourth - grade rapeseed oil in Jiangsu Nantong is 9,540, with a basis of 48.0 and a historical quantile of 24.00%. The futures price is 9,492.0 [1]. - The spot price of corn at Jinzhou Port is 2,360, with a basis of 42.0 and a historical quantile of 67.80%. The futures price is 2,318.0 [1]. - The spot price of corn starch in Jilin Changchun is 2,740, with a basis of 71.0 and a historical quantile of 32.50%. The futures price is 2,669.0 [1]. - The spot price of live pigs (outer ternary) in Henan is 14,200, with a basis of - 165.0 and a historical quantile of 39.60%. The futures price is 14,365.0 [1]. - The spot price of eggs in Hebei Shijiazhuang is 3,636.0, with a basis of - 416.0 and a historical quantile of 8.90%. The futures price is 3,220 [1]. - The spot price of cotton (3128B) in Xinjiang is 15,431, with a basis of - 1,271.0 and a historical quantile of 8.98%. The futures price is 14,160.0 [1]. - The spot price of white sugar at Liuzhou Station is 6,120, with a basis of 254.0 and a historical quantile of 51.90%. The futures price is 5,866.0 [1]. - The theoretical delivery price of apples is 8,600, with a basis of 631.0 and a historical quantile of 50.40%. The futures price is 7,969.0 [1]. - The wholesale price of first - grade grey dates in Hebei is 10,515.0, with a basis of - 2,215.0 and a historical quantile of 8.60%. The futures price is 8,300 [1]. Group 3: Energy and Chemicals - The spot price of paraxylene at the Chinese main port (CFR) converted to RMB is 7,043.0, with a basis of 87.0 and a historical quantile of 52.90%. The futures price is 6,956.0 [1]. - The spot price of purified terephthalic acid (PTA) in the East China region is 4,850.0, with a basis of - 30.0 and a historical quantile of 41.30%. The futures price is 4,820.0 [1]. - The spot price of ethylene glycol in the East China region is 4,540.0, with a basis of 55.0 and a historical quantile of 81.10%. The futures price is 4,485.0 [1]. - The spot price of polyester fiber in the East China market is 6,605.0, with a basis of 85.0 and a historical quantile of 66.60%. The futures price is 6,520.0 [1]. - The spot price of styrene in East China is 7,450.0, with a basis of 10.0 and a historical quantile of 28.60%. The futures price is 7,440.0 [1]. - The spot price of methanol in Jiangsu Taicang is 2,480.0, with a basis of - 17.5 and a historical quantile of 23.10%. The futures price is 2,462.5 [1]. - The spot price of urea in Shandong is 1,810.0, with a basis of 25.0 and a historical quantile of 18.70%. The futures price is 1,785.0 [1]. - The spot price of linear low - density polyethylene (LLDPE) in Shandong is 7,385.0, with a basis of - 105.0 and a historical quantile of 2.90%. The futures price is 7,280.0 [1]. - The spot price of polypropylene (PP) in Zhejiang is 7,181.0, with a basis of - 41.0 and a historical quantile of 14.50%. The futures price is 7,140.0 [1]. - The spot price of polyvinyl chloride (SG - 5) in the Changzhou market is 5,238.0, with a basis of - 148.0 and a historical quantile of 38.50%. The futures price is 5,090.0 [1]. - The spot price of caustic soda (32% ion - membrane caustic soda) in Shandong is 2,675.0, with a basis of - 81.3 and a historical quantile of 37.00%. The futures price is 2,593.8 [1]. - The spot price of liquefied petroleum gas in Guangzhou is 4,548.0, with a basis of 525.0 and a historical quantile of 69.80%. The futures price is 4,023.0 [1]. - The spot price of asphalt in Shandong is 3,785.0, with a basis of 183.0 and a historical quantile of 80.60%. The futures price is 3,602.0 [1]. - The spot price of butadiene rubber in China is 12,285.0, with a basis of - 85.0 and a historical quantile of - 0.69%. The futures price is 12,200.0 [1]. - The spot price of glass in Shahe is 1,307.0, with a basis of - 131.0 and a historical quantile of 17.85%. The futures price is 1,176.0 [1]. - The spot price of heavy - quality soda ash in Shahe is 1,408.0, with a basis of - 10.0 and a historical quantile of 26.68%. The futures price is 1,398.0 [1]. - The spot price of natural rubber in Shanghai is 15,245.0, with a basis of - 245.0 and a historical quantile of 81.66%. The futures price is 15,000.0 [1]. Group 4: Financial Futures Stock Index Futures - For IF2509.CFE, the spot price is 4,149.0, with a basis of - 7.8 and a historical quantile of 40.60%. The futures price is 4,141.2 [1]. - For IH2509.CFE, the spot price is 2,816.6, with a basis of 4.2 and a historical quantile of 80.90%. The futures price is 2,812.4 [1]. - For IC2509.CFE, the spot price is 6,293.6, with a basis of - 67.6 and a historical quantile of 9.70%. The futures price is 6,226.0 [1]. - For IM2509.CFE, the spot price is 6,701.1, with a basis of - 82.5 and a historical quantile of 15.10%. The futures price is 6,618.6 [1]. Bond Futures - For 2 - year bond (TS2509), the spot price is 102.31, with a basis of 0.00 and a historical quantile of 27.00%. The futures price is 100.23, and the conversion factor is 0.9796 [1]. - For 5 - year bond (TF2509), the spot price is 105.61, with a basis of 0.02 and a historical quantile of 30.70%. The futures price is 100.59, and the conversion factor is 0.9522 [1]. - For 10 - year bond (T2509), the spot price is 108.26, with a basis of 0.01 and a historical quantile of 17.10%. The futures price is 100.63, and the conversion factor is 0.9294 [1]. - For 30 - year bond (TL2509), the spot price is 133.85, with a basis of 0.17 and a historical quantile of 23.80%. The futures price is 118.52, and the conversion factor is 1.1279 [1].

Report Summary 1. Report Industry Investment Rating - No industry investment rating information is provided in the report. 2. Core View - The report presents the basis rate, changes compared to the previous day, current - month basis, next - month basis, subsequent - month basis, contract prices, and spot prices of various futures on July 22, 2025, including non - ferrous metals, precious metals, industrial products, agricultural products, and financial futures [4]. 3. Summary by Commodity Category Non - Ferrous Metals - Copper (CU): Basis rate is 0.41%, down 0.04% from yesterday, current - month basis is 325, spot price is 79,555 [4]. - Aluminum (AL): Basis rate is 0.70%, down 0.25% from yesterday, current - month basis is 110, spot price is 20,890 [4]. - Zinc (ZN): Basis rate is 0.15%, up 0.06% from yesterday, current - month basis is 70, spot price is 22,820 [4]. - Tin (SN): Basis rate is 0.61%, up 0.01% from yesterday, current - month basis is 1,630, spot price is 267,200 [4]. - Nickel (NI): Basis rate is 0.95%, down 0.09% from yesterday, current - month basis is 1,160, spot price is 122,850 [4]. - Industrial Silicon: Basis rate is 4.28%, down 1.73% from yesterday, current - month basis is 415, spot price is 9,500 [4]. - Lithium Carbonate (LC): Basis rate is - 4.14%, down 0.04% from yesterday, current - month basis is - 2,880, spot price is 68,020 [4]. Precious Metals - Gold (AU): Basis rate is - 0.60%, down 0.13% from yesterday, current - month basis is - 2.32, spot price is 777.00 [4]. - Silver (AG): Basis rate is - 0.49%, up 0.18% from yesterday, current - month basis is - 16, spot price is 9,226 [4]. Industrial Products - Rebar (RB): Basis rate is 3.29%, down 0.62% from yesterday, current - month basis is 106, spot price is 3,330 [4]. - Hot - Rolled Coil (HC): Basis rate is 1.06%, down 0.45% from yesterday, current - month basis is 36, spot price is 3,430 [4]. - Iron Ore: Basis rate is 4.64%, unchanged from yesterday, current - month basis is 36.5, spot price is 821.5 [4]. - Coke: Basis rate is - 7.93%, down 0.20% from yesterday, current - month basis is - 127.1, spot price is 1,476 [4]. - Coking Coal (JIM): Basis rate is 9.34%, down 9.45% from yesterday, current - month basis is 94.0, spot price is 1,100 [4]. - Power Coal (ZC): Basis rate is 20.14%, up 0.25% from yesterday, current - month basis is - 161.4, spot price is 640 [4]. - Ferrosilicon (SF): Basis rate is - 6.32%, down 1.63% from yesterday, current - month basis is - 358, spot price is 5,310 [4]. - Ferromanganese (SM): Basis rate is - 1.08%, down 1.87% from yesterday, current - month basis is - 64, spot price is 5,850 [4]. - Stainless Steel: Basis rate is - 0.43%, down 0.62% from yesterday, current - month basis is - 25, spot price is 12,850 [4]. - Glass (FG): Basis rate is 0.60%, down 6.71% from yesterday, current - month basis is 7, spot price is 1,180 [4]. Grains and Oils - Soybeans: Basis rate is - 5.69%, down 0.23% from yesterday, current - month basis is - 239, spot price is 3,960 [4]. - Soybean Meal (M): Basis rate is - 5.83%, down 0.40% from yesterday, current - month basis is - 179, spot price is 2,890 [4]. - Rapeseed Meal (RM): Basis rate is - 3.19%, up 0.19% from yesterday, current - month basis is - 87, spot price is 2,640 [4]. - Soybean Oil (V): Basis rate is 3.19%, up 0.86% from yesterday, current - month basis is 258, spot price is 8,350 [4]. - Rapeseed Oil (Ol): Basis rate is 0.77%, unchanged from yesterday, current - month basis is 74, spot price is 9,660 [4]. - Peanuts: Basis rate is 9.68%, up 0.21% from yesterday, current - month basis is 794, spot price is 9,000 [4]. - Palm Oil: Basis rate is 0.67%, up 0.61% from yesterday, current - month basis is 60, spot price is 8,970 [4]. - Corn: Basis rate is 0.00%, down 0.26% from yesterday, current - month basis is 0, spot price is 2,320 [4]. - Corn Starch (CS): Basis rate is 0.60%, down 0.23% from yesterday, current - month basis is 16, spot price is 2,680 [4]. Agricultural and Sideline Products - Apples (AP): Basis rate is - 1.55%, down 0.50% from yesterday, current - month basis is - 123, spot price is 7,800 [4]. - Eggs (JD): Basis rate is - 12.54%, down 1.00% from yesterday, current - month basis is - 456, spot price is 3,180 [4]. - Hogs (LH): Basis rate is 0.24%, down 1.63% from yesterday, current - month basis is 0, spot price is 14,400 [4]. - Cotton (CF): Basis rate is 9.90%, up 1.22% from yesterday, current - month basis is 1,404, spot price is 15,589 [4]. Soft Commodities - Sugar (SR): Basis rate is 4.81%, down 0.23% from yesterday, current - month basis is 281, spot price is 6,120 [4]. - Methanol (MA): Basis rate is 0.89%, down 0.80% from yesterday, current - month basis is 22, spot price is 2,433 [4]. - Ethanol (EG): Basis rate is 1.47%, up 0.13% from yesterday, current - month basis is 65, spot price is 4,475 [4]. - PTA (TA): Basis rate is 0.21%, down 0.34% from yesterday, current - month basis is 10, spot price is 4,790 [4]. - Polypropylene (PP): Basis rate is 3.23%, down 1.15% from yesterday, current - month basis is 229, spot price is 7,320 [4]. - Styrene (EB): Basis rate is 0.91%, down 0.36% from yesterday, current - month basis is 137, spot price is 7,560 [4]. - Short - Fiber (PF): Basis rate is 3.39%, down 0.97% from yesterday, current - month basis is 218, spot price is 6,650 [4]. - Plastic: Basis rate is - 0.55%, down 1.02% from yesterday, current - month basis is - 40, spot price is 7,250 [4]. - PVC (V): Basis rate is 5.61%, down 3.87% from yesterday, current - month basis is 287, spot price is 5,405 [4]. - Rubber (RU): Basis rate is - 0.30%, down 0.23% from yesterday, current - month basis is - 45, spot price is 14,850 [4]. - 20 - Number Rubber (NR): Basis rate is 1.31%, down 0.36% from yesterday, current - month basis is 167, spot price is 12,917 [4]. - Soda Ash (SA): Basis rate is - 0.77%, up 0.05% from yesterday, current - month basis is - 10, spot price is 1,285 [4]. - Urea (UR): Basis rate is 1.55%, down 2.18% from yesterday, current - month basis is 28, spot price is 1,840 [4]. - Pulp (SP): Basis rate is 11.78%, down 0.89% from yesterday, current - month basis is 629, spot price is 5,963 [4]. Energy and Chemicals - Crude Oil (SC): Basis rate is - 5.41%, up 3.12% from yesterday, current - month basis is - 27.7, spot price is 484.6 [4]. - Fuel Oil (EU): Basis rate is 4.30%, down 0.72% from yesterday, current - month basis is 126, spot price is 3,050 [4]. - Asphalt (BU): Basis rate is 5.41%, up 0.90% from yesterday, current - month basis is 198, spot price is 3,855 [4]. - Low - Sulfur Fuel Oil (LU): Basis rate is 2.30%, up 1.65% from yesterday, current - month basis is 82, spot price is 3,685 [4]. - LPG (PG): Basis rate is 10.14%, down 0.84% from yesterday, current - month basis is 464, spot price is 4,498 [4]. Stock Index Futures - CSI 300 (IF): Basis rate is 0.51%, up 0.10% from yesterday, current - month basis is 11.0, spot price is 4,085.6 [4]. - SSE 50 (IH): Basis rate is 0.04%, up 0.13% from yesterday, current - month basis is 1.2, spot price is 2,772.2 [4]. - CSI 500 (IC): Basis rate is 1.75%, up 0.10% from yesterday, current - month basis is 54.7, spot price is 6,161.3 [4].

Report Summary 1. Report Industry Investment Rating - No industry investment rating information is provided in the report. 2. Core View of the Report - The report presents a detailed table of the basis rate statistics for various futures on July 22, 2025, including the basis rate, change from the previous day, monthly basis, and contract prices for different commodities across multiple sectors such as non - ferrous metals, precious metals, energy chemicals, and agricultural products. 3. Summary by Related Categories Non - Ferrous Metals - Copper (CU): Basis rate is 0.41%, down 0.04% from the previous day, with a current month basis of 325 and a spot price of 79,555 [4]. - Aluminum (AL): Basis rate is 0.70%, down 0.25% from the previous day, current month basis is 110, and spot price is 20,890 [4]. - Zinc (ZN): Basis rate is 0.15%, up 0.06% from the previous day, current month basis is 70, and spot price is 22,820 [4]. - Tin (SN): Basis rate is 0.61%, up 0.01% from the previous day, current month basis is 1630, and spot price is 267,200 [4]. - Nickel (NI): Basis rate is 0.95%, down 0.09% from the previous day, current month basis is 1160, and spot price is 122,850 [4]. - Industrial Silicon: Basis rate is 4.28%, down 1.73% from the previous day, current month basis is 415, and spot price is 9500 [4]. - Lithium Carbonate (LC): Basis rate is - 4.14%, down 0.04% from the previous day, current month basis is - 2880, and spot price is 68,020 [4]. Precious Metals - Gold (AU): Basis rate is - 0.60%, down 0.13% from the previous day, current month basis is - 2.32, and spot price is 777.00 [4]. - Silver (AG): Basis rate is - 0.49%, up 0.18% from the previous day, current month basis is - 16, and spot price is 9226 [4]. Energy Chemicals - Crude Oil (SC): Basis rate is - 5.41%, up 3.12% from the previous day, current month basis is - 27.7, and spot price is 484.6 [4]. - Fuel Oil (EU): Basis rate is 4.30%, down 0.72% from the previous day, current month basis is 126, and spot price is 3050 [4]. - Asphalt (BU): Basis rate is 5.41%, up 0.90% from the previous day, current month basis is 198, and spot price is 3855 [4]. - Low - Sulfur Fuel Oil (LU): Basis rate is 2.30%, up 1.65% from the previous day, current month basis is 82, and spot price is 3685 [4]. - LPG (PG): Basis rate is 10.14%, down 0.84% from the previous day, current month basis is 464, and spot price is 4498 [4]. Agricultural Products - Soybean: Basis rate is - 5.69%, down 0.23% from the previous day, current month basis is - 239, and spot price is 3960 [4]. - Bean Meal (M): Basis rate is - 5.83%, down 0.40% from the previous day, current month basis is - 179, and spot price is 2890 [4]. - Rapeseed Meal (RM): Basis rate is - 3.19%, up 0.19% from the previous day, current month basis is - 87, and spot price is 2640 [4]. - Corn: Basis rate is 0.00%, down 0.26% from the previous day, current month basis is 0, and spot price is 2320 [4]. - Corn Starch (CS): Basis rate is 0.60%, down 0.23% from the previous day, current month basis is 16, and spot price is 2680 [4]. - Apple (AP): Basis rate is - 1.55%, down 0.50% from the previous day, current month basis is - 123, and spot price is 7800 [4]. - Eggs (JD): Basis rate is - 12.54%, down 1.00% from the previous day, current month basis is - 456, and spot price is 3180 [4]. - Live Pigs (LH): Basis rate is 0.24%, down 1.63% from the previous day, current month basis is not clear, and spot price is 14,400 [4]. - Cotton (CF): Basis rate is 9.90%, up 1.22% from the previous day, current month basis is 1404, and spot price is 15,589 [4]. - Sugar (SR): Basis rate is 4.81%, down 0.23% from the previous day, current month basis is 281, and spot price is 6120 [4]. Others - Rebar (RB): Basis rate is 3.29%, down 0.62% from the previous day, current month basis is 106, and spot price is 3330 [4]. - Hot - Rolled Coil (HC): Basis rate is 1.06%, down 0.45% from the previous day, current month basis is 36, and spot price is 3430 [4]. - Iron Ore: Basis rate is 4.64%, unchanged from the previous day, current month basis is 36.5, and spot price is 821.5 [4]. - Coke: Basis rate is - 7.93%, down 0.20% from the previous day, current month basis is - 127.1, and spot price is 1476 [4]. - Coking Coal (JIM): Basis rate is 9.34%, down 9.45% from the previous day, current month basis is 94.0, and spot price is 1100.0 [4]. - Silicon Iron (SF): Basis rate is - 6.32%, down 1.63% from the previous day, current month basis is - 358, and spot price is 5310 [4]. - Manganese Ore (SM): Basis rate is - 1.08%, down 1.87% from the previous day, current month basis is - 64, and spot price is 5850 [4]. - Stainless Steel: Basis rate is - 0.43%, down 0.62% from the previous day, current month basis is - 25, and spot price is 12,850 [4]. - Glass (FG): Basis rate is 0.60%, down 6.71% from the previous day, current month basis is 7, and spot price is 1180 [4]. - Methanol (MA): Basis rate is 0.89%, down 0.80% from the previous day, current month basis is 22, and spot price is 2433 [4]. - Ethanol (EG): Basis rate is 1.47%, up 0.13% from the previous day, current month basis is 65, and spot price is 4475 [4]. - PTA (TA): Basis rate is 0.21%, down 0.34% from the previous day, current month basis is 10, and spot price is 4790 [4]. - Polypropylene (PP): Basis rate is 3.23%, down 1.15% from the previous day, current month basis is 229, and spot price is 7320 [4]. - Styrene (EB): Basis rate is 0.91%, down 0.36% from the previous day, current month basis is 137, and spot price is 7560 [4]. - Short - Fiber (PF): Basis rate is 3.39%, down 0.97% from the previous day, current month basis is 218, and spot price is 6650 [4]. - Plastic: Basis rate is - 0.55%, down 1.02% from the previous day, current month basis is - 40, and spot price is 7250 [4]. - PVC (V): Basis rate is 5.61%, down 3.87% from the previous day, current month basis is 287, and spot price is 5405 [4]. - Rubber (RU): Basis rate is - 0.30%, down 0.23% from the previous day, current month basis is - 45, and spot price is 14,850 [4]. - 20 - Numbered Rubber (NR): Basis rate is 1.31%, down 0.36% from the previous day, current month basis is 167, and spot price is 12,917 [4]. - Soda Ash (SA): Basis rate is - 0.77%, up 0.05% from the previous day, current month basis is - 10, and spot price is 1285 [4]. - Urea (UR): Basis rate is 1.55%, down 2.18% from the previous day, current month basis is 28, and spot price is 1840 [4]. - Pulp (SP): Basis rate is 11.78%, down 0.89% from the previous day, current month basis is 629, and spot price is 5963 [4]. Stock Index Futures - CSI 300 (IF): Basis rate is 0.51%, up 0.10% from the previous day, current month basis is 11.0, and spot price is 4085.6 [4]. - SSE 50 (IH): Basis rate is 0.04%, up 0.13% from the previous day, current month basis is 1.2, and spot price is 2772.2 [4]. - CSI 500 (IC): Basis rate is 1.75%, up 0.10% from the previous day, current month basis is 54.7, and spot price is 6161.3 [4].

1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints of the Report - No explicit core viewpoints provided in the given content. The report mainly presents the price, basis, basis rate, and historical quantile data of various futures and spot products across different industries. 3. Summary by Related Catalogs Ferrous Metals - **Silicon Iron (SF509)**: Spot price is 5428, futures price is 5264, basis is 164, basis rate is 3.12%, and historical quantile is 79.10% [1] - **Silicon Manganese (SM509)**: Spot price is 5720, futures price is 5536, basis is 184, basis rate is 3.32%, and historical quantile is 55.60% [1] - **Rebar (RB2510)**: Spot price is 3090, futures price is 2981, basis is 109, basis rate is 3.66%, and historical quantile is 51.80% [1] - **Hot - Rolled Coil (HC2510)**: Spot price is 3190, futures price is 3093, basis is 97, basis rate is 3.14%, and historical quantile is 55.60% [1] - **Iron Ore (I2509)**: Spot price is 766, futures price is 700, basis is 67, basis rate is 9.64%, and historical quantile is 52.30% [1] - **Coke (J2509)**: Spot price is 1347, futures price is 1366, basis is - 19, basis rate is - 1.36%, and historical quantile is 35.17% [1] - **Coking Coal (JM2509)**: Spot price is 833, futures price is 790, basis is 44, basis rate is 5.51%, and historical quantile is 30.20% [1] Non - Ferrous Metals - **Copper (CU2507)**: Spot price is 78715, futures price is 78570, basis is 145, basis rate is 0.18%, and historical quantile is 56.04% [1] - **Aluminum (AL2507)**: Spot price is 20620, futures price is 20460, basis is 160, basis rate is 0.78%, and historical quantile is 84.58% [1] - **Alumina (AO2509)**: Spot price is 3213, futures price is 2860, basis is 353, basis rate is 12.34%, and historical quantile is 88.54% [1] - **Zinc (ZN2507)**: Spot price is 21940, futures price is 21905, basis is 35, basis rate is 0.16%, and historical quantile is 50.41% [1] - **Tin (SN2507)**: Spot price is 264000, futures price is 263730, basis is 270, basis rate is 0.10%, and historical quantile is 54.79% [1] - **Nickel (NI2507)**: Spot price is 118675, futures price is 118570, basis is 105, basis rate is 0.09%, and historical quantile is 59.58% [1] - **Stainless Steel (SS2508)**: Spot price is 12870, futures price is 12480, basis is 390, basis rate is 3.13%, and historical quantile is 78.75% [1] - **Lithium Carbonate (LC2509)**: Spot price is 60450, futures price is 29860, basis is 590, basis rate is 0.99%, and historical quantile is 54.40% [1] - **Industrial Silicon (SI2509)**: Spot price is 8150, futures price is 7360, basis is 790, basis rate is 10.73%, and historical quantile is 54.01% [1] Precious Metals - **Gold (AU2508)**: Spot price is 782.9, futures price is 785.1, basis is - 2.1, basis rate is - 0.27%, and historical quantile is 38.30% [1] - **Silver (AG2508)**: Spot price is 8831.0, futures price is 8864.0, basis is - 33.0, basis rate is - 0.37%, and historical quantile is 17.80% [1] Agricultural Products - **Soybean Meal (M2509)**: Spot price is 2890, futures price is 3074.0, basis is - 184.0, basis rate is - 5.99%, and historical quantile is 2.80% [1] - **Soybean Oil (Y2509)**: Spot price is 8150, futures price is 7972.0, basis is 178.0, basis rate is 2.23%, and historical quantile is 23.40% [1] - **Palm Oil (P2509)**: Spot price is 8730, futures price is 8446.0, basis is 284.0, basis rate is 3.36%, and historical quantile is 61.40% [1] - **Rapeseed Meal (RM509)**: Spot price is 2570, futures price is 2682.0, basis is - 112.0, basis rate is - 4.18%, and historical quantile is 15.60% [1] - **Rapeseed Oil (OI509)**: Spot price is 9780, futures price is 9583.0, basis is 197.0, basis rate is 2.06%, and historical quantile is 60.80% [1] - **Corn (C2507)**: Spot price is 2370, futures price is 2364.0, basis is 6.0, basis rate is 0.25%, and historical quantile is 50.20% [1] - **Corn Starch (CS2507)**: Spot price is 2700, futures price is 2685.0, basis is 15.0, basis rate is 0.56%, and historical quantile is 15.10% [1] - **Live Hogs (LH2509)**: Spot price is 14250, futures price is 13815.0, basis is 435.0, basis rate is 3.15%, and historical quantile is 51.60% [1] - **Eggs (JD2508)**: Spot price is 2670, futures price is 3545.0, basis is - 875.0, basis rate is - 24.68%, and historical quantile is 0.60% [1] - **Cotton (CF509)**: Spot price is 14762, futures price is 13525.0, basis is 1237.0, basis rate is 9.15%, and historical quantile is 86.90% [1] - **Sugar (SR509)**: Spot price is 6130, futures price is 5691.0, basis is 439.0, basis rate is 7.71%, and historical quantile is 79.90% [1] - **Apples (AP510)**: Spot price is 8600, futures price is 7652.0, basis is 948.0, basis rate is 12.39%, and historical quantile is 69.60% [1] - **Red Dates (CJ509)**: Spot price is 8300, futures price is 8895.0, basis is - 595.0, basis rate is - 6.69%, and historical quantile is 69.70% [1] Energy and Chemicals - **Para - Xylene (PX509)**: Spot price is 7133.8, futures price is 6776.0, basis is 357.8, basis rate is 5.28%, and historical quantile is 98.00% [1] - **PTA (TA509)**: Spot price is 5030.0, futures price is 4782.0, basis is 248.0, basis rate is 5.19%, and historical quantile is 84.10% [1] - **Ethylene Glycol (EG2509)**: Spot price is 4455.0, futures price is 4400.0, basis is 55.0, basis rate is 1.25%, and historical quantile is 82.50% [1] - **Polyester Staple Fiber (PF508)**: Spot price is 6640.0, futures price is 6546.0, basis is 94.0, basis rate is 1.44%, and historical quantile is 69.30% [1] - **Styrene (EB2507)**: Spot price is 7920.0, futures price is 7474.0, basis is 446.0, basis rate is 5.97%, and historical quantile is 87.10% [1] - **Methanol (MA509)**: Spot price is 2590.0, futures price is 2455.0, basis is 135.0, basis rate is 5.50%, and historical quantile is 88.10% [1] - **Urea (UR509)**: Spot price is 1810.0, futures price is 1774.0, basis is 36.0, basis rate is 2.03%, and historical quantile is 22.00% [1] - **LLDPE (L2509)**: Spot price is 7350.0, futures price is 7317.0, basis is 33.0, basis rate is 0.45%, and historical quantile is 28.20% [1] - **PP (PP2509)**: Spot price is 7200.0, futures price is 7125.0, basis is 75.0, basis rate is 1.05%, and historical quantile is 42.40% [1] - **PVC (V2509)**: Spot price is 4750.0, futures price is 4833.0, basis is - 83.0, basis rate is - 1.72%, and historical quantile is 58.90% [1] - **Caustic Soda (SH209)**: Spot price is 2593.8, futures price is 2273.0, basis is 320.8, basis rate is 14.11%, and historical quantile is 83.30% [1] - **LPG (PG2507)**: Spot price is 4698.0, futures price is 4382.0, basis is 316.0, basis rate is 7.21%, and historical quantile is 51.60% [1] - **Asphalt (BU2509)**: Spot price is 3800.0, futures price is 3644.0, basis is 156.0, basis rate is 4.28%, and historical quantile is 79.10% [1] - **Butadiene Rubber (BR2507)**: Spot price is 11800.0, futures price is 11485.0, basis is 315.0, basis rate is 2.74%, and historical quantile is 61.10% [1] - **Glass (FG509)**: Spot price is 1024.0, futures price is 974.0, basis is 50.0, basis rate is 4.88%, and historical quantile is 80.67% [1] - **Soda Ash (SA509)**: Spot price is 1201.0, futures price is 1159.0, basis is 42.0, basis rate is 3.50%, and historical quantile is 43.90% [1] - **Natural Rubber (RU2509)**: Spot price is 13850.0, futures price is 13870.0, basis is - 20.0, basis rate is - 0.14%, and historical quantile is 95.62% [1] Financial Futures - **CSI 300 (IF2506)**: Spot price is 3870.4, futures price is 3868.6, basis is - 1.8, basis rate is - 0.05%, and historical quantile is 55.90% [1] - **SSE 50 (IH2506)**: Spot price is 2684.0, futures price is 2680.8, basis is - 3.2, basis rate is - 0.12%, and historical quantile is 42.70% [1] - **CSI 500 (IC2506)**: Spot price is 5750.9, futures price is 5748.4, basis is - 2.5, basis rate is - 0.04%, and historical quantile is 81.10% [1] - **CSI 1000 (IM2506)**: Spot price is 6141.5, futures price is 6130.0, basis is - 11.5, basis rate is - 0.19%, and historical quantile is 62.70% [1] - **2 - Year Treasury Bond (TS2509)**: Spot price is 100.38, futures price is 102.54, basis is - 0.07, basis rate is - 0.07%, and historical quantile is 11.00% [1] - **5 - Year Treasury Bond (TF2509)**: Spot price is 101.17, futures price is 106.30, basis is - 0.04, basis rate is - 0.04%, and historical quantile is 21.90% [1] - **10 - Year Treasury Bond (T2509)**: Spot price is 101.42, futures price is 109.15, basis is - 0.02, basis rate is - 0.02%, and historical quantile is 13.10% [1] - **30 - Year Treasury Bond (TL2509)**: Spot price is 136.63, futures price is 120.79, basis is 0.39, basis rate is 0.32%, and historical quantile is 55.60% [1]

1. Report Date - The report is dated June 13, 2025 [4] 2. Data Sources - The data sources include Wind, Mysteel, and the Research Institute of GF Futures [5] 3. Commodity Analysis Ferrous Metals - **Silicon Iron (SF509)**: The basis is 262, the basis rate is 5.07%, and the historical quantile is 87.10%. The spot price is 5428, and the futures price is 5166 [1] - **Silicon Manganese (SM509)**: The basis is 244, the basis rate is 4.50%, and the historical quantile is 62.80%. The spot price is 5670, and the futures price is 5426 [1] - **Rebar (RB2510)**: The basis is 122, the basis rate is 4.11%, and the historical quantile is 55.70%. The spot price is 3090, and the futures price is 2968 [1] - **Hot - Rolled Coil (HC2510)**: The basis is 100, the basis rate is 3.25%, and the historical quantile is 56.30%. The spot price is 3180, and the futures price is 3080 [1] - **Iron Ore (I2509)**: The basis is 29, the basis rate is 7.79%, and the historical quantile is 45.10%. The spot price is 759, and the futures price is 704 [1] - **Coke (J2509)**: The basis is 28, the basis rate is 2.16%, and the historical quantile is 60.09%. The spot price is 1357, and the futures price is 1329 [1] - **Coking Coal (JM2509)**: The basis is 61, the basis rate is 8.02%, and the historical quantile is 38.00%. The spot price is 828, and the futures price is 767 [1] Non - Ferrous Metals - **Copper (CU2507)**: The basis is 465, the basis rate is 0.59%, and the historical quantile is 81.45%. The spot price is 78610, and the futures price is 79075 [1] - **Aluminum (AL2507)**: The basis is 255, the basis rate is 1.25%, and the historical quantile is 92.29%. The spot price is 20395, and the futures price is 20650 [1] - **Alumina (AO2509)**: The basis is 365, the basis rate is 12.61%, and the historical quantile is 89.42%. The spot price is 3260, and the futures price is 2895 [1] - **Zinc (ZN2507)**: The basis is 155, the basis rate is 0.70%, and the historical quantile is 69.37%. The spot price is 22240, and the futures price is 22085 [1] - **Tin (SN2507)**: The basis is 150, the basis rate is 0.06%, and the historical quantile is 51.45%. The spot price is 265300, and the futures price is 265150 [1] - **Nickel (NI2507)**: The basis is 1000, the basis rate is 0.83%, and the historical quantile is 82.29%. The spot price is 121000, and the futures price is 120000 [1] - **Stainless Steel (SS2508)**: The basis is 385, the basis rate is 3.06%, and the historical quantile is 78.75%. The spot price is 12970, and the futures price is 12585 [1] - **Lithium Carbonate (LC2507)**: The basis is 210, the basis rate is 0.35%, and the historical quantile is 49.55%. The spot price is 60650, and the futures price is 60440 [1] - **Industrial Silicon (SI2507)**: The basis is - 695, the basis rate is - 9.32%, and the historical quantile is 48.48%. The spot price is 7455, and the futures price is 8150 [1] Precious Metals - **Gold (AU2508)**: The basis is - 4.8, the basis rate is - 0.61%, and the historical quantile is 5.00%. The spot price is 785.2, and the futures price is 780.4 [1] - **Silver (AG2508)**: The basis is - 49, the basis rate is - 0.56%, and the historical quantile is 6.10%. The spot price is 8819, and the futures price is 8770 [1] Agricultural Products - **Soybean Meal (M2509)**: The basis is - 219, the basis rate is - 7.18%, and the historical quantile is 0.10%. The spot price is 2830, and the futures price is 3049 [1] - **Soybean Oil (Y2509)**: The basis is 182, the basis rate is 2.37%, and the historical quantile is 23.70%. The spot price is 7870, and the futures price is 7688 [1] - **Palm Oil (P2509)**: The basis is 330, the basis rate is 4.12%, and the historical quantile is 64.10%. The spot price is 8340, and the futures price is 8010 [1] - **Rapeseed Meal (RM509)**: The basis is - 134, the basis rate is - 5.01%, and the historical quantile is 10.30%. The spot price is 2540, and the futures price is 2674 [1] - **Rapeseed Oil (O1509)**: The basis is 172, the basis rate is 1.87%, and the historical quantile is 56.40%. The spot price is 9350, and the futures price is 9178 [1] - **Corn (C2507)**: The basis is 18, the basis rate is 0.76%, and the historical quantile is 57.20%. The spot price is 2390, and the futures price is 2372 [1] - **Corn Starch (CS2507)**: The basis is - 10, the basis rate is - 0.37%, and the historical quantile is 9.60%. The spot price is 2710, and the futures price is 2700 [1] - **Live Hogs (LH2509)**: The basis is 300, the basis rate is 2.18%, and the historical quantile is 49.10%. The spot price is 14050, and the futures price is 13750 [1] - **Eggs (JD2508)**: The basis is - 959, the basis rate is - 27.49%, and the historical quantile is 0.10%. The spot price is 2530, and the futures price is 3489 [1] - **Cotton (CF509)**: The basis is 1272, the basis rate is 9.41%, and the historical quantile is 88.30%. The spot price is 14792, and the futures price is 13520 [1] - **Sugar (SR509)**: The basis is 483, the basis rate is 8.55%, and the historical quantile is 85.70%. The spot price is 6130, and the futures price is 5647 [1] - **Apples (AP510)**: The basis is 1024, the basis rate is 13.52%, and the historical quantile is 72.50%. The spot price is 8600, and the futures price is 7576 [1] - **Red Dates (CJ509)**: The basis is - 615, the basis rate is - 6.90%, and the historical quantile is 68.90%. The spot price is 8915, and the futures price is 8300 [1] Energy and Chemicals - **Para - Xylene (PX509)**: The basis is 172.7, the basis rate is 2.64%, and the historical quantile is 77.80%. The spot price is 6708.7, and the futures price is 6536 [1] - **PTA (TA509)**: The basis is 230, the basis rate is 4.98%, and the historical quantile is 83.40%. The spot price is 4850, and the futures price is 4620 [1] - **Ethylene Glycol (EG2509)**: The basis is 136, the basis rate is 3.21%, and the historical quantile is 92.80%. The spot price is 4370, and the futures price is 4234 [1] - **Polyester Staple Fiber (PF507)**: The basis is 148, the basis rate is 2.33%, and the historical quantile is 78.30%. The spot price is 6510, and the futures price is 6362 [1] - **Styrene (EB2507)**: The basis is 407, the basis rate is 5.54%, and the historical quantile is 84.80%. The spot price is 7760, and the futures price is 7353 [1] - **Methanol (MA509)**: The basis is 92, the basis rate is 4.02%, and the historical quantile is 74.20%. The spot price is 2382, and the futures price is 2290 [1] - **Urea (UR509)**: The basis is 94, the basis rate is 5.71%, and the historical quantile is 40.60%. The spot price is 1740, and the futures price is 1646 [1] - **LLDPE (L2509)**: The basis is 58, the basis rate is 0.81%, and the historical quantile is 34.20%. The spot price is 7175, and the futures price is 7117 [1] - **PP (PP2509)**: The basis is 161, the basis rate is 2.31%, and the historical quantile is 62.20%. The spot price is 7130, and the futures price is 6969 [1] - **PVC (V2509)**: The basis is - 106, the basis rate is - 2.20%, and the historical quantile is 51.60%. The spot price is 4826, and the futures price is 4720 [1] - **Caustic Soda (SH209)**: The basis is 417.8, the basis rate is 18.16%, and the historical quantile is 87.50%. The spot price is 2718.8, and the futures price is 2301 [1] - **LPG (PG2507)**: The basis is 457, the basis rate is 11.04%, and the historical quantile is 63.60%. The spot price is 4598, and the futures price is 4141 [1] - **Asphalt (BU2509)**: The basis is 193, the basis rate is 5.47%, and the historical quantile is 82.90%. The spot price is 3720, and the futures price is 3527 [1] - **BR (BR2507)**: The basis is 565, the basis rate is 5.12%, and the historical quantile is 82.40%. The spot price is 11600, and the futures price is 11035 [1] - **Glass (FG509)**: The basis is 981, the basis rate is 4.94%, and the historical quantile is 80.67%. The spot price is 1032, and the futures price is 981 [1] - **Soda Ash (SA509)**: The basis is 45, the basis rate is 3.69%, and the historical quantile is 44.74%. The spot price is 1220, and the futures price is 1175 [1] - **Natural Rubber (RU2509)**: The basis is 265, the basis rate is 1.91%, and the historical quantile is 99.58%. The spot price is 13850, and the futures price is 13585 [1] Financial Futures - **CSI 300 Index Futures (IF2506)**: The basis is - 8.6, the basis rate is - 0.22%, and the historical quantile is 38.10%. The spot price is 3892.2, and the futures price is 3883.6 [1] - **SSE 50 Index Futures (IH2506)**: The basis is - 9.1, the basis rate is - 0.34%, and the historical quantile is 24.60%. The spot price is 2691.3, and the futures price is 2682.2 [1] - **CSI 500 Index Futures (IC2506)**: The basis is - 19.9, the basis rate is - 0.34%, and the historical quantile is 53.90%. The spot price is 5799.9, and the futures price is 5780 [1] - **CSI 1000 Index Futures (IM2506)**: The basis is - 35.4, the basis rate is - 0.58%, and the historical quantile is 36.80%. The spot price is 6192.2, and the futures price is 6156.8 [1] - **2 - Year Treasury Bond Futures (TS2509)**: The basis is - 0.06, the basis rate is - 0.06%, and the historical quantile is 12.30%. The spot price is 102.44, and the futures price is 100.29 [1] - **5 - Year Treasury Bond Futures (TF2509)**: The basis is - 0.01, the basis rate is - 0.01%, and the historical quantile is 25.50%. The spot price is 101.05, and the futures price is 106.14 [1] - **10 - Year Treasury Bond Futures (T2509)**: The basis is 0.21, the basis rate is 0.19%, and the historical quantile is 42.00%. The spot price is 109, and the futures price is 107.64 [1] - **30 - Year Treasury Bond Futures (TL2509)**: The basis is 0.4, the basis rate is 0.33%, and the historical quantile is 57.10%. The spot price is 136.28, and the futures price is 120.47 [1]

Report Summary 1. Report Industry Investment Rating There is no information about the report industry investment rating in the provided content. 2. Core Viewpoints There are no explicit core viewpoints presented in the given text. It mainly provides a comprehensive list of various commodity futures and related data, including spot prices, historical quantiles, basis, and futures prices. 3. Summary by Categories Ferrous Metals - **Silicon Iron (SF509)**: Spot price is 5478, futures price is 5184, basis is 294, basis rate is 5.67%, and historical quantile is 89.20% [1]. - **Silicon Manganese (SM509)**: Spot price is 5700, futures price is 5486, basis rate is 3.90%, and historical quantile is 59.40% [1]. - **Rebar (RB2510)**: Spot price is 3110, futures price is 2991, basis rate is 3.98%, and historical quantile is 54.60% [1]. - **Hot - Rolled Coil (HC2510)**: Spot price is 3200, futures price is 3108, basis rate is 2.96%, and historical quantile is 54.30% [1]. - **Iron Ore (I2509)**: Spot price (converted price of 62.5% Brazilian blended powder) is 759, futures price is 707, basis rate is 7.33%, and historical quantile is 42.60% [1]. - **Coke (J2509)**: Spot price is 1357, futures price is 1356, basis rate is 0.08%, and historical quantile is 45.89% [1]. - **Coking Coal (JM2509)**: Spot price (converted price of S1.3 G75 main coking coal) is 828, futures price is 784, basis rate is 5.68%, and historical quantile is 30.20% [1]. Non - Ferrous Metals - **Copper (CU2507)**: Spot price is 79310, futures price is 79290, basis rate is 0.03%, and historical quantile is 44.16% [1]. - **Aluminum (AL2507)**: Spot price is 20400, futures price is 20250, basis rate is 0.74%, and historical quantile is 83.33% [1]. - **Zinc (ZN2507)**: Spot price is 22230, futures price is 22140, basis rate is 0.41%, and historical quantile is 56.45% [1]. - **Tin (SN2507)**: Spot price is 265800, futures price is 265530, basis rate is 0.10%, and historical quantile is 55.20% [1]. - **Nickel (NI2507)**: Spot price is 121700, futures price is 121790, basis rate is - 0.07%, and historical quantile is 49.58% [1]. - **Stainless Steel (SS2508)**: Spot price is 12970, futures price is 12600, basis rate is 2.94%, and historical quantile is 77.25% [1]. Precious Metals - **Gold (AU2508)**: Spot price is 777.5, futures price is 774.5, basis rate is - 0.39%, and historical quantile is 19.50% [1]. - **Silver (AG2508)**: Spot price is 8882.0, futures price is 8902.0, basis rate is - 0.22%, and historical quantile is 37.40% [1]. Agricultural Products - **Soybean Meal (M2509)**: Spot price is 3047.0, futures price is 2840, basis rate is - 6.79%, and historical quantile is 24.10% [1]. - **Soybean Oil (Y2509)**: Spot price is 7880, futures price is 7694.0, basis rate is 2.42% [1]. - **Palm Oil (P2509)**: Spot price is 8330, futures price is 7970.0, basis rate is 4.52%, and historical quantile is 64.50% [1]. - **Rapeseed Meal (RM509)**: Spot price is 2638.0, futures price is 2530, basis rate is - 4.09%, and historical quantile is 15.70% [1]. - **Rapeseed Oil (O1509)**: Spot price is 9330, futures price is 9149.0, basis rate is 1.98%, and historical quantile is 58.20% [1]. - **Corn (C2507)**: Spot price is 2390, futures price is 2374.0, basis rate is 0.67%, and historical quantile is 56.70% [1]. - **Corn Starch (CS2507)**: Spot price is 2709.0, futures price is 2700, basis rate is - 0.33%, and historical quantile is 9.70% [1]. - **Live Hogs (LH2509)**: Spot price is 14050, futures price is 13600.0, basis rate is 3.31%, and historical quantile is 52.00% [1]. - **Eggs (JD2508)**: Spot price is 3515.0, futures price is 2620, basis rate is - 25.46% [1]. - **Cotton (CF509)**: Spot price is 14702, futures price is 13540.0, basis rate is 8.58%, and historical quantile is 81.70% [1]. - **Sugar (SR509)**: Spot price is 6150, futures price is 5668.0, basis rate is 8.50%, and historical quantile is 85.70% [1]. - **Apples (AP510)**: Spot price is 8600, futures price is 7551.0, basis rate is 13.89%, and historical quantile is 16.20% [1]. - **Red Dates (CJ509)**: Spot price is 8925.0, futures price is 8300, basis rate is - 7.00%, and historical quantile is 31.10% [1]. Energy and Chemicals - **Para - Xylene (PX509)**: Spot price is 6725.0, futures price is 6528.0, basis rate is 3.02%, and historical quantile is 82.90% [1]. - **PTA (TA509)**: Spot price is 4840.0, futures price is 4620.0, basis rate is 4.76%, and historical quantile is 82.90% [1]. - **Ethylene Glycol (EG2509)**: Spot price is 4370.0, futures price is 4285.0, basis rate is 1.98%, and historical quantile is 88.20% [1]. - **Polyester Staple Fiber (PF507)**: Spot price is 6490.0, futures price is 6414.0, basis rate is 1.18%, and historical quantile is 66.40% [1]. - **Styrene (EB2507)**: Spot price is 7760.0, futures price is 7349.0, basis rate is 5.59%, and historical quantile is 85.20% [1]. - **Methanol (MA509)**: Spot price is 2368.0, futures price is 2282.0, basis rate is 3.77%, and historical quantile is 71.90% [1]. - **Urea (UR509)**: Spot price is 1750.0, futures price is 1667.0, basis rate is 4.98%, and historical quantile is 37.50% [1]. - **LLDPE (L2509)**: Spot price is 7165.0, futures price is 7102.0, basis rate is 0.89%, and historical quantile is 36.20% [1]. - **PP (PP2509)**: Spot price is 7130.0, futures price is 6960.0, basis rate is 2.44%, and historical quantile is 64.40% [1]. - **PVC (V2509)**: Spot price is 4832.0, futures price is 4720.0, basis rate is - 2.32%, and historical quantile is 48.90% [1]. - **LPG (PG2507)**: Spot price is 4598.0, futures price is 4130.0, basis rate is 11.33%, and historical quantile is 64.30% [1]. - **Asphalt (BU2509)**: Spot price is 3720.0, futures price is 3461.0, basis rate is 7.48%, and historical quantile is 87.10% [1]. - **Butadiene Rubber (BR2507)**: Spot price is 11600.0, futures price is 11225.0, basis rate is 3.34%, and historical quantile is 68.30% [1]. - **Glass (FG509)**: Spot price is 1032.0, futures price is 998.0, basis rate is 3.29%, and historical quantile is 75.42% [1]. - **Soda Ash (SA509)**: Spot price is 1246.0, futures price is 1202.0, basis rate is 3.53%, and historical quantile is 86.66% [1]. - **Natural Rubber (RU2509)**: Spot price is 13890.0, futures price is 13750.0, basis rate is - 1.02% [1]. Financial Futures - **CSI 300 Index Futures (IF2506)**: Spot price is 3894.6, futures price is 3878.8, basis rate is - 0.41%, and historical quantile is 26.60% [1]. - **SSE 50 Index Futures (IH2506)**: Spot price is 2692.1, futures price is 2682.4, basis rate is - 0.36% [1]. - **CSI 500 Index Futures (IC2506)**: Spot price is 5792.9, futures price is 5761.2, basis rate is - 0.55%, and historical quantile is 39.20% [1]. - **CSI 1000 Index Futures (IM2506)**: Spot price is 6186.5, futures price is 6144.0, basis rate is - 0.69%, and historical quantile is 29.00% [1]. - **2 - Year Treasury Bond Futures (TS2509)**: Spot price is 102.45, futures price is 100.30, basis rate is - 0.06%, and historical quantile is 11.20% [1]. - **5 - Year Treasury Bond Futures (TF2509)**: Spot price is 106.17, futures price is 101.07, basis rate is - 0.02%, and historical quantile is 24.20% [1]. - **10 - Year Treasury Bond Futures (T2509)**: Spot price is 109.04, futures price is 107.64, basis rate is 0.16%, and historical quantile is 36.70% [1]. - **30 - Year Treasury Bond Futures (TL2509)**: Spot price is 136.22, futures price is 120.40, basis rate is 0.35%, and historical quantile is 61.30% [1].

Report Summary Core View The report presents the basis, spot prices, futures prices, basis rates, and historical quantiles of various commodities and financial futures on June 11, 2025, covering multiple sectors such as ferrous metals, non - ferrous metals, precious metals, agricultural products, energy and chemicals, and stock index futures [1]. Summary by Category Ferrous Metals - **Silicon Iron (SF509)**: Spot price is 5528, futures price is 5174, basis is 354, basis rate is 6.84%, and historical quantile is 92.20% [1]. - **Silicon Manganese (SM509)**: Spot price is 5700, futures price is 5542, basis is 158, basis rate is 2.85%, and historical quantile is 51.70% [1]. - **Rebar (RB2510)**: Spot price is 3190, futures price is 3110, basis is 80, basis rate is 2.57%, and historical quantile is 59.60% [1]. - **Hot - Rolled Coil (HC2510)**: Spot price is 3089, futures price is 3033, basis is 56, basis rate is 1.85%, and historical quantile is 56.70% [1]. - **Iron Ore (I2509)**: Spot price (converted price of 62.5% Brazilian mixed powder) is 753, futures price is 745, basis is 8, basis rate is 1.07%, and historical quantile is 45.30% [1]. - **Coke (J2509)**: Spot price (converted price of quasi - first - grade metallurgical coke) is 1357, futures price is 1349, basis is 8, basis rate is 0.60%, and historical quantile is 50.63% [1]. - **Coking Coal (JM2509)**: Spot price (converted price of S1.3 G75 main coking coal) is 838, futures price is 785, basis is 53, basis rate is 6.75%, and historical quantile is 34.50% [1]. Non - Ferrous Metals - **Copper (CU2507)**: Spot price is 79275, futures price is 78880, basis is 395, basis rate is 0.50%, and historical quantile is 77.70% [1]. - **Aluminum (AL2507)**: Spot price is 20160, futures price is 19980, basis is 180, basis rate is 0.90%, and historical quantile is 86.66% [1]. - **Alumina (AO2509)**: Spot price is 3262, futures price is 2886, basis is 376, basis rate is 13.04%, and historical quantile is 90.74% [1]. - **Zinc (ZN2507)**: Spot price is 22090, futures price is 21845, basis is 245, basis rate is 1.12%, and historical quantile is 80.62% [1]. - **Tin (SN2507)**: Spot price is 264800, futures price is 263420, basis is 1380, basis rate is 0.52%, and historical quantile is 82.29% [1]. - **Nickel (NISE07)**: Spot price is 121600, futures price is 121390, basis is 210, basis rate is 0.17%, and historical quantile is 63.54% [1]. - **Stainless Steel (SS2508)**: Spot price is 12870, futures price is 12460, basis is 410, basis rate is 3.29%, and historical quantile is 80.90% [1]. Precious Metals - **Gold (AU2508)**: Spot price is 775.1, futures price is 772.8, basis is - 2.2, basis rate is - 0.29%, and historical quantile is 36.20% [1]. - **Silver (AG2508)**: Spot price is 8887.0, futures price is 8882.0, basis is 5.0, basis rate is 0.06%, and historical quantile is 74.30% [1]. Agricultural Products - **Soybean Meal (M2509)**: Spot price is 3031.0, futures price is 2830, basis is 201.0, basis rate is 7.10%, and historical quantile is 79.60% [1]. - **Soybean Oil (Y2509)**: Spot price is 7960, futures price is 7758.0, basis is 202.0, basis rate is 2.60%, and historical quantile is 26.70% [1]. - **Palm Oil (P2509)**: Spot price is 8490, futures price is 8116.0, basis is 374.0, basis rate is 4.61%, and historical quantile is 65.50% [1]. - **Rapeseed Meal (RM509)**: Spot price is 2629.0, futures price is 2500, basis is 129.0, basis rate is 5.16%, and historical quantile is 11.90% [1]. - **Rapeseed Oil (O1509)**: Spot price is 9380, futures price is 9188.0, basis is 192.0, basis rate is 2.09%, and historical quantile is 59.80% [1]. - **Corn (C2507)**: Spot price is 2380, futures price is 2379.0, basis is 1.0, basis rate is 0.04%, and historical quantile is 48.20% [1]. - **Corn Starch (CS2507)**: Spot price is 2711.0, futures price is 2700, basis is - 11.0, basis rate is - 0.41%, and historical quantile is 9.20% [1]. - **Live Hogs (LH2509)**: Spot price is 14050, futures price is 13595.0, basis is 455.0, basis rate is 3.35%, and historical quantile is 52.30% [1]. - **Eggs (JD2507)**: Spot price is 2833.0, futures price is 2650, basis is 183.0, basis rate is 6.46%, and historical quantile is 15.90% [1]. - **Cotton (CF509)**: Spot price is 14644, futures price is 13520.0, basis is 1124.0, basis rate is 8.31%, and historical quantile is 78.50% [1]. - **Sugar (SR509)**: Spot price is 6170, futures price is 5717.0, basis is 453.0, basis rate is 7.92%, and historical quantile is 82.60% [1]. - **Apples (AP510)**: Spot price is 8600, futures price is 7523.0, basis is 1077.0, basis rate is 14.32%, and historical quantile is 74.80% [1]. - **Red Dates (CJ509)**: Spot price is 8995.0, futures price is 8300, basis is - 695.0, basis rate is - 7.73%, and historical quantile is 65.50% [1]. Energy and Chemicals - **Para - Xylene (PX509)**: Spot price is 6777.2, futures price is 6502.0, basis is 275.2, basis rate is 4.23%, and historical quantile is 93.30% [1]. - **PTA (TA509)**: Spot price is 4865.0, futures price is 4612.0, basis is 253.0, basis rate is 5.49%, and historical quantile is 84.30% [1]. - **Ethylene Glycol (EG2509)**: Spot price is 4365.0, futures price is 4269.0, basis is 96.0, basis rate is 2.25%, and historical quantile is 89.90% [1]. - **Polyester Staple Fiber (PF507)**: Spot price is 6500.0, futures price is 6358.0, basis is 142.0, basis rate is 2.23%, and historical quantile is 77.40% [1]. - **Styrene (EB2507)**: Spot price is 7505.0, futures price is 7346.0, basis is 159.0, basis rate is 2.16%, and historical quantile is 58.90% [1]. - **Methanol (MA509)**: Spot price is 2380.0, futures price is 2276.0, basis is 104.0, basis rate is 4.57%, and historical quantile is 79.30% [1]. - **Urea (UR509)**: Spot price is 1760.0, futures price is 1678.0, basis is 82.0, basis rate is 4.89%, and historical quantile is 37.00% [1]. - **LLDPE (L2509)**: Spot price is 7175.0, futures price is 7106.0, basis is 69.0, basis rate is 0.97%, and historical quantile is 38.20% [1]. - **PP (PP2509)**: Spot price is 7130.0, futures price is 6941.0, basis is 189.0, basis rate is 2.72%, and historical quantile is 67.80% [1]. - **PVC (V2509)**: Spot price is 4810.0, futures price is 4700.0, basis is 110.0, basis rate is 2.29%, and historical quantile is 49.90% [1]. - **Caustic Soda (SH509)**: Spot price is 2750.0, futures price is 2324.0, basis is 426.0, basis rate is 18.33%, and historical quantile is 88.20% [1]. - **LPG (PG2507)**: Spot price is 4548.0, futures price is 4119.0, basis is 429.0, basis rate is 10.42%, and historical quantile is 61.10% [1]. - **Asphalt (BU2509)**: Spot price is 3710.0, futures price is 3483.0, basis is 227.0, basis rate is 6.52%, and historical quantile is 85.40% [1]. - **Butadiene Rubber (BR2507)**: Spot price is 11600.0, futures price is 11230.0, basis is 370.0, basis rate is 3.29%, and historical quantile is 68.30% [1]. - **Glass (FG509)**: Spot price is 1032.0, futures price is 995.0, basis is 37.0, basis rate is 3.59%, and historical quantile is 76.00% [1]. - **Soda Ash (SA509)**: Spot price is 1254.0, futures price is 1208.0, basis is 46.0, basis rate is 3.67%, and historical quantile is 44.84% [1]. - **Natural Rubber (RU2509)**: Spot price is 13850.0, futures price is 13805.0, basis is 45.0, basis rate is 0.32%, and historical quantile is 97.95% [1]. Stock Index Futures - **IF2506.CFE**: Spot price (implied) is 3865.5, futures price is 3841.0, basis is - 24.5, basis rate is - 0.64%, and historical quantile is 11.90% [1]. - **IH2506.CFE**: Spot price (implied) is 2676.4, futures price is 2660.0, basis is - 16.4, basis rate is - 0.62%, and historical quantile is 30.20% [1]. - **IC2506.CFE**: Spot price (implied) is 5758.0, futures price is 5718.2, basis is - 39.8, basis rate is - 0.70%, and historical quantile is 10.00% [1]. - **IM2506.CFE**: Spot price (implied) is 6161.7, futures price is 6113.8, basis is - 47.9, basis rate is - 0.78%, and historical quantile is 26.00% [1]. - **TS2509**: Spot price (implied) is 102.44, futures price is 100.28, basis is - 0.07, basis rate is - 0.07%, and historical quantile is 24.30% [1]. - **TF2509**: Spot price (implied) is 106.12, futures price is 101.02, basis is - 0.02, basis rate is - 0.02%, and historical quantile is 40.70% [1]. - **T2509**: Spot price (implied) is 108.98, futures price is 107.61, basis is 0.20, basis rate is 0.19%, and historical quantile is 55.20% [1]. - **TL2509**: Spot price (implied) is 135.91, futures price is 120.16, basis is 0.39, basis rate is 0.32%, and historical quantile is 55.20% [1]. Industry Investment Rating No industry investment rating is provided in the report.

Report Summary 1. Report Industry Investment Rating No information about the industry investment rating is provided in the content. 2. Core View The report presents the basis rate statistics of various futures on May 27, 2025, including details such as trading codes, prices of different contracts, spot prices, basis rates, and their changes compared to the previous day. This data can be used by investors to analyze the market conditions and potential investment opportunities of different commodities futures [4]. 3. Summary by Commodity Category Non - Ferrous Metals - **Copper (CU)**: The spot price is 78,590, the basis rate is 0.15%, and the price of the next - month contract is 77,910 with a change of 320 compared to the previous day [4]. - **Aluminum (AL)**: The spot price of SMM A00 aluminum is 20,350, the basis rate is 0.97%, and the price of the next - month contract is 20,155 with a change of - 0.05% compared to the previous day [4]. - **Zinc (ZN)**: The spot price of SMM 0 zinc ingot is 22,570, the basis rate is 1.69%, and the price of the next - month contract is 22,195 with a change of - 0.15% compared to the previous day [4]. - **Lead (PB)**: The spot price of SMM 1 lead ingot is 16,835, the basis rate is - 0.98%, and the price of the next - month contract is 16,840 with a change of - 160 compared to the previous day [4]. - **Tin**: The spot price of SMM 1 tin is 264,640, the basis rate is - 0.02%, and the price of the next - month contract is 264,500 with a change of - 50 compared to the previous day [4]. - **Nickel (NI)**: The spot price of SMM 1 electrolytic nickel is 123,210, the basis rate is 1.06%, and the price of the next - month contract is 122,850 with a change of 940 compared to the previous day [4]. Industrial Metals and Minerals - **Industrial Silicon**: The spot price of SMM Huayue Tongyang 553 silicon is 8,800, the basis rate is 11.40%, and the price of the next - month contract is 7,720 with a change of 875 compared to the previous day [4]. - **Carbonate Lithium**: The spot price of domestic 99.5% carbonate lithium is 60,400, the basis rate is 3.43%, and the price of the next - month contract is 61,420 with a change of 1,01% compared to the previous day [4]. Precious Metals - **Gold (AU)**: The spot price of AuT + D on the Shanghai Gold Exchange is 779.22, the basis rate is - 5.36%, and the price of the next - month contract is 777.30 with a change of - 3.44 compared to the previous day [4]. - **Silver (AG)**: The spot price of Ag(T + D) on the Shanghai Gold Exchange is 8,299, the basis rate is - 0.50%, and the price of the next - month contract is 8,280 with a change of - 41 compared to the previous day [4]. Steel and Related Products - **Rebar (RB)**: The spot price of HRB400 20mm in Shanghai is 3,140, the basis rate is 4.53%, and the price of the next - month contract is 3,020 with a change of 120 compared to the previous day [4]. - **Hot - Rolled Coil (HC)**: The spot price of Q235B 4.75mm in Shanghai is 3,220, the basis rate is 2.61%, and the price of the next - month contract is 3,161 with a change of 82 compared to the previous day [4]. Energy and Chemicals - **Crude Oil (SC)**: The spot price of Chinese Shengli crude oil in the Pacific Rim is 455.0, the basis rate is - 1.63%, and the price of the next - month contract is 452.2 with a change of - 2.8 compared to the previous day [4]. - **Fuel Oil (FU)**: The spot price of bonded marine fuel oil 380CST in Zhoushan is 3,57, the basis rate is 5.13%, and the price of the next - month contract is 3,193 with a change of - 3.04 compared to the previous day [4]. - **LPG (PG)**: The spot price in Guangzhou is 4,798, the basis rate is 18.12%, and the price of the next - month contract is 4,091 with a change of - 0.61% compared to the previous day [4]. - **Methanol (MA)**: The spot price in East China is 2,293, the basis rate is 3.87%, and the price of the next - month contract is 2,239 with a change of - 0.77% compared to the previous day [4]. - **PTA (TA)**: The spot price in East China is 4,905, the basis rate is 3.83%, and the price of the next - month contract is 4,598 with a change of 0.14% compared to the previous day [4]. - **Polypropylene (PP)**: The market price of Hangzhou Shaoxing Sanyuan T30S is 7,430, the basis rate is 7.23%, and the price of the next - month contract is 6,896 with a change of 0.29% compared to the previous day [4]. - **Styrene (EB)**: The spot price in East China is 7,825, the basis rate is 8.76%, and the price of the next - month contract is 7,005 with a change of 3.90% compared to the previous day [4]. - **Short - Fiber (PF)**: The price of Fangxiang semi - glossy natural white 1.56 * 38mm polyester staple fiber is 6,560, the basis rate is 2.02%, and the price of the next - month contract is 6,402 with a change of 0.01% compared to the previous day [4]. - **PVC**: The spot price of the calcium - carbide method in East China is 5,405, the basis rate is 11.10%, and the price of the next - month contract is 5,100 with a change of - 0.25% compared to the previous day [4]. - **Rubber (RU)**: The spot price of Thai - made rubber in the Qingdao Free Trade Zone is 15,285, the basis rate is - 0.69%, and the price of the next - month contract is 14,300 with a change of - 860 compared to the previous day [4]. - **20 Standard Rubber (NR)**: The spot price of Thai 20 standard rubber in the Qingdao Free Trade Zone is 12,771, the basis rate is 1.00%, and the price of the next - month contract is 12,410 with a change of - 0.51% compared to the previous day [4]. - **Soda Ash (SA)**: The market price in Shache and Chongqing is 1,289, the basis rate is 2.79%, and the price of the next - month contract is 1,237 with a change of 1 compared to the previous day [4]. - **Urea (UR)**: The spot price of small - particle urea in Henan is 1,850, the basis rate is 1.87%, and the price of the next - month contract is 1,737 with a change of - 1.03% compared to the previous day [4]. - **Pulp (SP)**: The spot price of bleached softwood pulp (Silver Star, Chile) is 6,248, the basis rate is 15.65%, and the price of the next - month contract is 5,300 with a change of 948 compared to the previous day [4]. Agricultural Products - **Soybeans**: The spot price of domestic third - grade soybeans in Harbin is 4,087, the basis rate is - 3.3%, and the price of the next - month contract is 2,950 with a change of - 152 compared to the previous day [4]. - **Soybean Meal**: The spot price of ordinary protein soybean meal in Zhangjiagang is 3,002, the basis rate is - 3.7%, and the price of the next - month contract is 2,709 with a change of - 100 compared to the previous day [4]. - **Rapeseed Meal**: The spot price of ordinary rapeseed meal in Nantong is 2,349, the basis rate is 0.01%, and the price of the next - month contract is 2,332 with a change of - 96 compared to the previous day [4]. - **Vegetable Oils and Fats**: - **First - Grade Soybean Oil**: The spot price in Zhangjiagang is 8,120, the basis rate is 5.40%, and the price of the next - month contract is 7,682 with a change of 590 compared to the previous day [4]. - **Rapeseed Oil**: The spot price in Jiangsu is 9,610, the basis rate is 2.43%, and the price of the next - month contract is 9,026 with a change of 228 compared to the previous day [4]. - **Peanut Oil**: The spot price of Baisha peanuts (45% oil content, 9% water content) in Changtu is 8,800, the basis rate is 6.64%, and the price of the next - month contract is 8,252 with a change of 548 compared to the previous day [4]. - **Palm Oil**: The spot price of 24 - degree palm oil in Guangdong is 8,520, the basis rate is 7.12%, and the price of the next - month contract is 7,954 with a change of - 0.30% compared to the previous day [4]. - **Grains**: - **Corn**: The spot price of second - grade national standard corn at Bayuquan Port is 2,344, the basis rate is 0.09%, and the price of the next - month contract is 2,320 with a change of - 24 compared to the previous day [4]. - **Corn Starch**: The factory price in Changchun is 2,723, the basis rate is 1.39%, and the price of the next - month contract is 2,690 with a change of - 33 compared to the previous day [4]. - **Livestock and Poultry Products - **Pigs**: The spot price of external ternary pigs in Henan is 14,430, the basis rate is 6.10%, and the price of the next - month contract is 13,00 with a change of 130 compared to the previous day [4]. - **Soft Commodities - **Cotton**: The spot price of the cotton price index 328 in Xinjiang is 13,445, the basis rate is 0.19%, and the price of the next - month contract is 13,385 with a change of 1221 compared to the previous day [4]. - **Sugar**: The spot price of daily - consumption sugar in Liuzhou is 6,200, the basis rate is 6.26%, and the price of the next - month contract is 5,653 with a change of - 0.04% compared to the previous day [4]. Stock Index Futures - **CSI 300 (IF)**: The spot price is 3,860.1, the basis rate is - 0.18%, and the price of the next - month contract is 3,831.2 with a change of 28.9 compared to the previous day [4]. - **SSE 50 (IH)**: The spot price is 2,699.4, the basis rate is 0.56%, and the price of the next - month contract is 2,646.2 with a change of 47.2 compared to the previous day [4]. - **CSI 500 (IC)**: The spot price is 5,669.5, the basis rate is - 0.30%, and the price of the next - month contract is 5,400.0 with a change of 74.9 compared to the previous day [4].

| 品种/合约 | 现货价格 | 期货价格 | 基差 | 基差率 | 历史分位数 | 现货参考 | | 留注 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 硅铁 (SF507) | 5778 | 5660 | 118 | 2.08% | 74.60% | 折算价:72硅铁合格块:内蒙-天津仓单 | | | | 硅罐(SM509) | 5920 | 5876 | 44 | 0.75% | 33.00% | 折算价:6517硅锰:内蒙-湖北仓单 | | | | 螺纹钢 (RB2510) | 3240 | 3118 | 122 | 3.91% | 56.40% | HRB40020mm:上海 | | | | 热卷 (HC2510) | 3300 | 3260 | 40 | 1.23% | 36.20% | Q235B: 4.75mm: 上海 | | | | 铁矿石 (12509) | 809 | 737 | 73 | 9.90% | 55.70% | 折算价:62.5%巴混粉(BRBF):淡水河谷:日照港 | | | | 焦炭 (J2509) ...