Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints No clear core viewpoints were presented in the given reports. The documents mainly contain various data and statistics about different financial markets, including stock index futures, bonds, precious metals, shipping, and more. 3. Summary by Related Catalogs Stock Index Futures - **IF期现价差**: Latest value -36.07, changed -1.81 from the previous day, 10.60% in the past 1 - year and 8.50% in the full - history percentile [1]. - **IH期现价差**: Latest value -18.85, changed -0.62, 15.10% in the past 1 - year and 9.70% in the full - history percentile [1]. - **IC期现价差**: Latest value -91.24, changed -2.76, 9.00% in the past 1 - year and 4.10% in the full - history percentile [1]. - **IM期现价差**: Latest value -117.68, changed -1.57, 75.00% in the past 1 - year and 6.70% in the full - history percentile [1]. Bond Futures - **TS基差**: On 2025 - 05 - 23, IRR 1.9009, latest value -0.1019, changed -0.0307, 45.60% of the percentile since listing [4]. - **TF基差**: On 2025 - 05 - 23, IRR 2.0022, latest value 0.2085, changed -0.0838, 57.00% of the percentile since listing [4]. - **T基差**: On 2025 - 05 - 23, IRR 1.8206, latest value 0.2388, changed -0.0137, 62.40% of the percentile since listing [4]. - **TL基差**: On 2025 - 05 - 23, IRR 1.6735, latest value 0.4568, changed 0.0019, 57.40% of the percentile since listing [4]. Precious Metals - **London Silver**: Price 33.48, up 0.44 (1.34%) [11]. - **Shanghai Gold Exchange Gold T + D**: Price 775.72, down 2.05 (-0.26%) [11]. - **Shanghai Gold Exchange Silver T + D**: Price 8244, down 24 (-0.29%) [11]. Shipping Industry - **Port - related Indicators (Shanghai)**: Port on - time rate in April was 29.02, down 4.41 (-13.19%) from March; port calls were 317, down 15 (-4.52%); monthly export value was 3156.92 billion US dollars, up 20.33 (0.65%) [14][16]. - **Overseas Economic Indicators**: Eurozone manufacturing PMI in April was 49.50, down 0.90 (-1.79%) from March; EU consumer confidence index was - 14.50, up 1.50 (9.38%); US manufacturing PMI was 48.70, down 0.30 (-0.61%) [14][16]. Data and Information - **Overseas**: US exchanges were closed for one day; Brazil released secex weekly report [18]. - **Domestic**: Information on global manganese ore shipments, arrivals, port manganese ore inventories, iron ore shipments and arrivals, SMM electrolytic copper social inventory, etc. were reported [18].

1. Report Industry Investment Rating No relevant information provided. 2. Core Views Polyester Industry - PX: Short - term prices are supported due to planned outages, delayed PTA maintenance, and restart of previous maintenance devices. Suggest short - term focus around 6600, and consider PX9 - 10 positive spreads and PX - SC positive spreads [18]. - PTA: Weekly supply - demand weakens, downstream polyester losses increase, and terminal demand is in a wait - and - see state. Short - term is under pressure. Suggest short - term focus on support around 4600 and TA9 - 1 short - selling on rallies [18]. - Ethylene Glycol (MEG): Expected to de - stock from May to June, but the upside is limited by polyester factory production cuts. Suggest unilateral wait - and - see and EG9 - 1 positive spreads on dips [18]. - Short - fiber: Processing fees may be repaired, but short - term absolute prices are dragged down by oil price drops. Suggest PF unilateral trading similar to PTA and expanding PF processing fees at low levels [18]. - Bottle chips: Supply has an incremental expectation, but short - term supply - demand contradiction is not prominent. Suggest PR unilateral trading similar to PTA and focus on expanding processing fees at the lower end of the 350 - 550 yuan/ton range [18]. Urea Industry - The inventory pressure of domestic urea factories is becoming more obvious, and the market may continue to oscillate and bottom. The downward space of the futures market depends on cost support. Future attention should be paid to inventory inflection points, export port collection trends, and coal price fluctuations [28]. Polyolefin Industry - PE: Overall trading is weak, but supply before early June is reduced due to maintenance and imports are low. Demand improves due to tariff cuts, and inventory is expected to decrease. - PP: Supply pressure increases after late May, but there is short - term demand support. Suggest unilateral short - selling on rallies and LP spreads expansion [31]. Crude Oil Industry - OPEC+ is discussing further production increases in July, and industry members are over - producing. US commercial crude inventories are accumulating, and gasoline and distillate demand is weak. Short - term oil prices will oscillate widely. Suggest a band - trading strategy, with WTI in the [59, 69] range, Brent in the [61, 71] range, and SC in the [450, 510] range. Consider buying volatility in the options market [75]. Styrene Industry - Crude oil price drops drag down the aromatics series. Styrene's recent rebound is weakening. Downstream 3S has high inventory, and raw material pure benzene supply - demand is not improving. Suggest a medium - term bearish view and focus on EB - BZ spread widening opportunities [81]. Methanol Industry - The inland methanol valuation has a downward pressure, production recovers after spring maintenance, and the port starts to accumulate inventory. The 09 contract is under pressure. Suggest short - selling MA09 on rallies [84]. Chlor - alkali Industry - Caustic soda: Short - term supply pressure is limited, demand from alumina is expected to increase, and spot prices are supported. However, non - aluminum demand pressure and cost reduction pose risks. Suggest unilateral wait - and - see. - PVC: The recent rebound is due to macro - stimulus, export support, and supply - demand balance. But in the long - term, there is an over - supply pressure due to the real estate situation. Suggest a medium - term short - selling strategy with a resistance level around 5100 for the 09 contract [89][91]. 3. Summary by Relevant Catalogs Polyester Industry - **Downstream Polyester Products**: On May 22, POY150/48 price was 6990 yuan/ton (- 0.4% from the previous day), FDY150/96 was 7275 yuan/ton, DTY150/48 was 8220 yuan/ton, etc. [18] - **Upstream Prices**: Brent crude (July) was 64.91 dollars/barrel (- 0.7% from the previous day), WTI crude (June) was 61.20 dollars/barrel, etc. [18] - **PX - related**: CFR China PX was 835 dollars/ton (- 1.4% from the previous day), PX - crude was 353 dollars/ton (- 2.4% from the previous day) [18]. - **PTA - related**: PTA华东现货价格 was 4895 yuan/ton (- 0.7% from the previous day), TA期货2509 was 4788 yuan/ton (- 1.8% from the previous day) [18]. - **MEG - related**: MEG港口库存 was 74.3 tons (- 1.1% from the previous day), MEG到港预期 was 10.9 tons [18]. Urea Industry - **Futures Prices**: On May 22, the 01 contract was 1766 yuan/ton (- 0.39% from the previous day), the 05 contract was 1772 yuan/ton (- 0.51% from the previous day), etc. [23] - **Futures Spreads**: The 01 contract - 05 contract spread was - 6 yuan/ton (25.00% change from the previous day), the 05 contract - 09 contract spread was - 77 yuan/ton (- 4.05% change from the previous day) [24]. - **Upstream Raw Materials**: On May 22, the price of无烟煤小块 (Jincheng) was 1000 yuan/ton, the price of动力煤坑口 (Yijinhuoluoqi) was 410 yuan/ton [26]. - **Spot Market**: On May 22, the price of山东 (small particles) was 1880 yuan/ton, the price of山西 (small particles) was 1750 yuan/ton (- 0.57% from the previous day) [27]. - **Supply - Demand**: On May 23, the domestic urea daily output was 20.48 tons (1.49% increase from the previous day), the domestic urea weekly output was 142.55 tons (2.20% increase from the previous week) [28]. Polyolefin Industry - **PE/PP Prices**: On May 22, L2505 was 7083 yuan/ton (- 0.80% from the previous day), PP2505 was 6938 yuan/ton (- 0.74% from the previous day) [31]. - **PE/PP Non - standard Prices**: On May 22, the price of华东LDPE was 9000 yuan/ton (- 1.64% from the previous day), the price of华东HD膜 was 7550 yuan/ton [32]. - **PE Upstream and Downstream**: The PE装置开工率 was 78.0% (- 1.80% from the previous value), the PE下游加权开工率 was 39.4% (0.33% increase from the previous value) [33]. - **PE Inventory**: The PE企业库存 (Wednesday update) was 49.8 tons (- 5.57% from the previous value), the PE社会库存 (Monday update) was 59.3 tons (- 2.85% from the previous value) [34]. Crude Oil Industry - **Crude Oil Prices and Spreads**: On May 23, Brent was 64.44 dollars/barrel (- 0.72% from May 22), WTI was 60.75 dollars/barrel (- 0.74% from May 22) [75]. - **Refined Oil Prices and Spreads**: On May 23, NYM RBOB was 212.57 cents/gallon (- 0.26% from May 22), NYM ULSD was 210.89 cents/gallon (- 0.41% from May 22) [75]. - **Refined Oil Crack Spreads**: On May 23, the US gasoline crack spread was 28.53 dollars/barrel (0.77% increase from May 22), the European gasoline crack spread was 16.93 dollars/barrel [75]. Styrene Industry - **Upstream**: On May 22, Brent原油 (July) was 64.4 dollars/barrel (- 0.7% from the previous day), CFR日本石脑油 was 563.0 dollars/ton (- 2.4% from the previous day) [78]. - **Spot and Futures**: On May 22, the苯乙烯华东现货价 was 7765.0 yuan/ton (- 1.0% from the previous day), EB2506 was 7452.0 yuan/ton (- 1.7% from the previous day) [79]. - **Overseas Quotes and Import Profits**: On May 22, the苯乙烯CFR中国 was 906.0 dollars/ton (- 1.6% from the previous day), the苯乙烯进口利润 was 109.1 yuan/ton (29.8% increase from the previous day) [80]. - **Industry开工率 and利润**: The苯乙烯开工率 was 71.3% (- 1.3% from the previous value), the苯乙烯一体化利润 was 519.7 yuan/ton (349.6% increase from the previous value) [81]. Methanol Industry - **Methanol Prices and Spreads**: On May 22, MA2501 was 2311 yuan/ton (- 1.37% from the previous day), MA2505 was 2259 yuan/ton (- 3.59% from the previous day) [84]. - **Inventory**: The methanol企业库存 was 33.401% (- 0.52% from the previous value), the甲醇港口库存 was 49.0 tons (1.34% increase from the previous value) [84]. - **Upstream and Downstream开工率**: The上游 - 国内企业开工率 was 74.51% (- 1.31% from the previous value), the下游 - 外采MTO装置开工率 was 83.54% (10.39% increase from the previous value) [84]. Chlor - alkali Industry - **PVC/烧碱现货 & 期货**: On May 22, the price of山东32%液碱折自价 was 2656.3 yuan/ton, the price of华东电石法PVC市场价 was 4830.0 yuan/ton [89]. - **烧碱海外报价 & 出口利润**: On May 8, the FOB华东港口 was 395.0 dollars/ton, the出口利润 was 46.9 yuan/ton [89]. - **PVC海外报价 & 出口利润**: On February 15, the CFR东南亚 was 670.0 dollars/ton, the出口利润 was 54.1 yuan/ton [89]. - **Supply (开工率 and利润)**: The烧碱行业开工率 was 85.8% (- 1.9% from the previous value), the外采电石法PVC利润 was - 1042.0 yuan/ton (2.8% increase from the previous value) [89]. - **Demand (开工率)**: The氧化铝行业开工率 was 77.0% (- 3.3% from the previous value), the隆众样本管材开工率 was 49.1% (1.9% increase from the previous value) [90][91]. - **Inventory**: On May 15, the液碱华东厂库库存 was 19.4 tons (0.3% increase from the previous value), the PVC总社会库存 was 39.7 tons (- 3.1% from the previous value) [91].

Report on Stock Index Futures Spread Core Information - **Date**: May 22, 2025 - **Analysis of Spread Data**: The report provides detailed data on the current and inter - period spreads of various stock index futures (IF, IH, IC, IM), including the latest values, changes from the previous day, and historical quantiles [1]. Key Points - **IF Spreads**: The IF current - period spread was - 35.18, down 2.41 from the previous day. Inter - period spreads such as "next month - current month" were - 40.60, down 0.80 [1]. - **IH Spreads**: The IH current - period spread was - 15.83, up 1.40. The "next month - current month" inter - period spread was - 30.20, down 1.80 [1]. - **IC Spreads**: The IC current - period spread was - 102.32, down 5.76. The "next month - current month" inter - period spread was - 76.20, up 1.20 [1]. - **IM Spreads**: The IM current - period spread was - 131.58, down 4.96. The "next month - current month" inter - period spread was - 91.20, up 2.20 [1]. - **Cross - variety Ratios**: Ratios like CSI 500/CSI 300 were 1.4702, down 0.0042, with a 1 - year quantile of 45.90% [1]. Report on Treasury Bond Futures Spread Core Information - **Date**: May 22, 2025 - **Analysis of Spread Data**: The report presents data on the basis, inter - period spreads, and cross - variety spreads of treasury bond futures (TS, TF, T, TL), including the latest values, changes from the previous day, and historical quantiles [4]. Key Points - **Basis**: TS basis was 1.8110, down 0.0743; TF basis was 1.8222; T basis was 1.7962; TL basis was 1.7414 [4]. - **Inter - period Spreads**: For example, the "current quarter - next quarter" spread of TS was - 0.1180, down 0.0080 [4]. - **Cross - variety Spreads**: TS - TF was - 3.6300, down 0.0330; TS - T was - 6.4550, up 0.0270 [4]. Report on Precious Metals Spot - Futures Core Information - **Date**: May 22, 2025 - **Analysis of Market Data**: The report covers domestic and foreign futures closing prices, spot prices, basis, price ratios, interest rates, exchange rates, inventory, and positions of precious metals (gold and silver) [6]. Key Points - **Futures Prices**: Domestic AU2508 contract closed at 778.78 yuan/g, up 3.23%; AG2508 contract closed at 8272 yuan/kg, up 2.45%. COMEX gold closed at 3316.60 dollars/ounce, up 0.73%; COMEX silver closed at 33.58 dollars/ounce, up 0.95% [6]. - **Spot Prices**: London gold was 3314.36 dollars/ounce, up 0.76%; London silver was 33.38 dollars/ounce, up 0.95% [6]. - **Basis**: Gold TD - Shanghai gold main contract was - 5.16, down 2.97; silver TD - Shanghai silver main contract was - 35, down 18 [6]. - **Price Ratios**: COMEX gold/silver was 98.78, down 0.22%; Shanghai Futures Exchange gold/silver was 94.15, up 0.76% [6]. - **Interest Rates and Exchange Rates**: 10 - year US Treasury yield was 4.58%, up 2.2%; 2 - year US Treasury yield was 4.00%, up 0.8%; US dollar index was 99.60, down 0.42% [6]. - **Inventory and Positions**: Shanghai Futures Exchange gold inventory was 17247 g, up 0.05%; silver inventory was 940799 kg, up 1.25% [6]. Report on Container Shipping Industry Spot - Futures Core Information - **Date**: May 22, 2025 - **Analysis of Market Data**: The report includes spot quotes, container shipping indices, futures prices, basis, and fundamental data of the container shipping industry [8]. Key Points - **Spot Quotes**: MAERSK's Shanghai - Europe future 6 - week freight was 2524 dollars/FEU, up 21.17%; CMA CGM's was 3402 dollars/FEU, up 15.09% [8]. - **Container Shipping Indices**: SCFIS (European route) was 1265.30, down 2.86%; SCFIS (US West route) was 1446.36, down 0.61% [8]. - **Futures Prices and Basis**: EC2602 was 1416.8, down 0.99%; the basis of the main contract EC2508 was - 411.9, up 11.4 [8]. - **Fundamental Data**: Global container shipping capacity supply was 3231.11 million TEU, up 0.05%; Shanghai port's arrival punctuality rate was 29.02, down 13.19% [8]. Report on Trading Calendar Core Information - **Date**: May 22, 2025 - **Data Schedules**: The report lists overseas and domestic economic data and financial events schedules for different industries [9]. Key Points - **Overseas Data**: Eurozone's May manufacturing PMI preliminary value will be released at 16:00; US May S&P Global manufacturing and service PMI preliminary values will be released at 21:45 [9]. - **Domestic Data**: Steel Union's weekly production, inventory, and apparent demand data will be released in the afternoon; steel mill's start - up rate, capacity utilization, and hot metal production will be released in the evening [9].

Group 1: Report Industry Investment Rating - No information provided in the given reports Group 2: Core Views - The reports present daily data on various futures, including stock index futures, treasury bond futures, precious metal futures, shipping industry futures, and trading calendars, along with information on price differences, prices, rates, inventories, and data schedules [1][2][6][9][11] Group 3: Summary by Relevant Catalogs Stock Index Futures - **Price Differences**: IF, IH, IC, and IM show different current - price and inter - period price differences and their historical percentile positions. For example, the IF current - price difference is - 32.77, with a 1 - year historical percentile of 12.70% and an all - time historical percentile of 10.10% [1] - **Cross - Variety Ratios**: There are various cross - variety ratios, such as CSI 500/Shanghai Composite 50, CSI 500/CSI 300, etc., with their respective values and historical percentile positions [1] Treasury Bond Futures - **Basis**: TS, TF, T, and TL basis values and their changes compared to the previous day, along with their historical percentile positions since the contract's listing. For example, the TS basis on May 20, 2025, is 1.8116, with a change of - 0.0751 and a historical percentile of 37.40% [2] - **Inter - Period Price Differences**: Each type of treasury bond futures has different inter - period price differences and their historical percentile positions [2] - **Cross - Variety Price Differences**: There are cross - variety price differences such as TS - TF, TS - T, etc., and their historical percentile positions [2] Precious Metal Futures - **Prices**: Domestic and foreign futures closing prices, spot prices, and their changes and percentage changes. For example, the AU2508 contract closed at 754.38 yuan/g on May 20, 2025, down 1.48 yuan or - 0.20% from the previous day [6] - **Basis**: The basis values between different precious metal products and their historical percentile positions [6] - **Ratios**: The ratios between gold and silver in different markets and their changes [6] - **Interest Rates and Exchange Rates**: Information on 10 - year and 2 - year US Treasury yields, 10 - year TIPS Treasury yields, the US dollar index, and the offshore RMB exchange rate and their changes [6] - **Inventory and Position**: The inventory and position data of precious metals in different exchanges and their changes [6] Shipping Industry Futures - **Shipping Rates**: Shanghai - Europe shipping rates for different shipping companies and their changes, as well as various shipping indices and their changes [9] - **Futures Prices and Basis**: Futures prices of different contracts and the basis of the main contract and their changes [9] - **Fundamentals**: Data on container shipping capacity supply, foreign trade - related indicators, and overseas economic indicators and their changes [9] Trading Calendar - **Overseas Data/Information**: Economic indicators and financial events in the energy and chemical sector in the US, such as API and EIA crude oil inventories [11] - **Domestic Data/Information**: Economic indicators and financial events in different domestic sectors, including black and non - ferrous metals, energy and chemicals, and special commodities [11]

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].

| 股指期货价差日报 | | | | | | | --- | --- | --- | --- | --- | --- | | 投资咨询业务资格:证监许可【2011】1292号 | | | | | | | 2025年5月16日 | | | | 叶倩宁 | Z0016628 | | 价差 | 品种 | 最新值 | 较削一日变化 | 历史1年分位数 | 全历史分位数 | | | F期现价差 | -34.40 | 1.41 | 11.00% | 9.40% | | 期现价差 | H期现价差 | -17.30 | -1.11 | 15.90% | 10.80% | | | IC期现价差 | -92.30 | 9.02 | 6.90% | 4.10% | | | IM期现价差 | -108.04 | 9.33 | 90.00% | 7.00% | | | 次月-当月 | -35.40 | 0.20 | 2.40% | 9.20% | | | 委員-景月 | -100.00 | 1.60 | 1.20% | 7.10% | | | 远月-当月 | -137.00 | 2.60 | 1.20% | 9.70% | | F跨期 ...

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].

3/1 | | 股指期货价差日报 | | | | | | --- | --- | --- | --- | --- | --- | | | 投资咨询业务资格:证监许可【2011】1292号 | | | | | | 2025年5月15日 | | | | 叶倩宁 | Z0016628 | | 价差 | 品种 | 最新值 | 较前一日变化 | 历史1年分位数 | 全历史分位数 | | | F期现价差 | -35.81 | ਰੇ 45 | 10.20% | 8.60% | | 期现价差 | H期现价差 | -16.18 | 3.67 | 15.90% | 11.90% | | | IC期现价差 | -101.32 | 25.75 | 6.50% | 3.20% | | | IM期现价差 | -117.37 | 37.04 | 90.00% | 6.00% | | | 次月-当月 | -35.60 | 5.40 | 2.00% | 9.10% | | | 季月-当月 | -101.60 | 7.20 | 0.80% | 6.80% | | | 远月-当月 | -139.60 | 7.40 | 0.80% | 9.30% ...

| 股指期货价差日报 | | | | | | | --- | --- | --- | --- | --- | --- | | 投资咨询业务资格:证监许可【2011】1292号 | | | | | | | 2025年5月13日 | | | | 叶倩宁 | Z0016628 | | 价差 | 品种 | 最新值 | 较前一日变化 | 历史1年分位数 | 全历史分位数 | | | F期现价差 | -37.61 | -0.05 | 8.60% | 7.80% | | 期现价差 | H期现价差 | -16.02 | 1.79 | 15.50% | 12.00% | | | IC期现价差 | -105.67 | 11.25 | 5.70% | 2.90% | | | IM期现价差 | -130.46 | 6.42 | 85.00% | 5.40% | | | 次月-当月 | -32.00 | -0.40 | 3.20% | 10.70% | | | 季月-当月 | -98.40 | -1.80 | 0.40% | 7.20% | | | 远月-当月 | -135.40 | -2.00 | 0.40% | 10.00% | ...

| 股指期货价差日报 | | | | | | --- | --- | --- | --- | --- | | 投资咨询业务资格:证监许可【2011】1292号 叶倩宁 2025年5月12日 | | | Z0016628 | | | 价差 品种 最新值 较前一日变化 历史1年分位数 | | | | 全历史分位数 | | F期现价差 -37.56 -0.66 | | 8.60% | | 7.80% | | -17.81 -3.10 期现价差 H期现价差 | | 14.70% | | 10.30% | | IC期验价套 -116.92 | -3.12 | 4.90% | | 2.10% | | IM期现价去 -136.88 | 2.40 | 85.00% | | 4.90% | | 次月-当月 -31.60 | -1.80 | 4.50% | | 11.00% | | 李月-当月 -96.60 | -6.20 | 0.40% | | 7.40% | | 元月-当月 -133.40 | -12.20 | 0.40% | | 10.50% | | IF跨期价差 -65.00 李月-次月 | -4.40 | 0.40% ...