跨品种套利

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有色套利早报-20251009
Yong An Qi Huo· 2025-10-09 00:59
国内价格 LME价格 比价 现货 16775 1949 8.62 三月 16985 1991 11.00 均衡比价 盈利 现货进口 8.83 -406.67 跨期套利跟踪 2025/10/09 铜 次月-现货月 三月-现货月 四月-现货月 五月-现货月 价差 -240 -240 -300 -300 理论价差 519 936 1361 1787 锌 次月-现货月 三月-现货月 四月-现货月 五月-现货月 价差 685 710 735 785 理论价差 209 323 438 553 铝 次月-现货月 三月-现货月四月-现货月 五月-现货月 价差 -30 -20 -10 -10 理论价差 215 330 446 561 铅 次月-现货月 三月-现货 月 四月-现货月 五月-现货月 价差 515 560 570 530 理论价差 207 310 413 517 镍 次月-现货月 三月-现货月 四月-现货 月 五月-现货月 价差 590 750 960 1260 锡 5-1 价差 300 理论价差 5700 期现套利跟踪 2025/10/09 铜 当月合约-现货 次月合约-现货 价差 155 -85 理论价差 314 ...
宝城期货品种套利数据日报(2025年9月29日):一、动力煤-20250929
Bao Cheng Qi Huo· 2025-09-29 02:33
Report Summary 1. Report Industry Investment Rating There is no information about the industry investment rating in the report. 2. Core View of the Report The report provides daily arbitrage data for various futures commodities on September 29, 2025, including power coal, energy chemicals, black metals, non - ferrous metals, agricultural products, and stock index futures, showing the basis, inter - period spreads, and inter - commodity spreads of these commodities. 3. Summary by Directory Power Coal - The basis for power coal on September 26, 2025, was - 100.4 yuan/ton, compared to - 95.4 yuan/ton on September 25, 24, and 23, and - 96.4 yuan/ton on September 22. The spreads of 5 - month vs 1 - month, 9 - month vs 1 - month, and 9 - month vs 5 - month were all 0.0 [2]. Energy Chemicals Energy Commodities - For energy commodities, the basis data for fuel oil, INE crude oil, and crude oil/asphalt from September 22 to 26, 2025, are presented, along with the price ratios. For example, on September 26, the basis of INE crude oil was 13.13 yuan/ton, and the price ratio was 0.1417 [7]. Chemical Commodities - **Basis**: The basis data of rubber, methanol, PTA, LLDPE, V, and PP from September 22 to 26, 2025, are provided. For instance, on September 26, the basis of rubber was - 770 yuan/ton [9]. - **Inter - period Spreads**: The inter - period spreads (5 - month vs 1 - month, 9 - month vs 1 - month, 9 - month vs 5 - month) of rubber, methanol, PTA, LLDPE, PVC, PP, and ethylene glycol are given. For example, the 5 - month vs 1 - month spread of rubber was - 30 yuan/ton [11]. - **Inter - commodity Spreads**: The inter - commodity spreads of LLDPE - PVC, LLDPE - PP, PP - PVC, and PP - 3*methanol from September 22 to 26, 2025, are shown. On September 26, the LLDPE - PVC spread was 2261 yuan/ton [11]. Black Metals - **Inter - period Spreads**: The inter - period spreads of rebar, iron ore, coke, and coking coal (5 - month vs 1 - month, 9 - month(10) vs 1 - month, 9 - month(10) vs 5 - month) are presented. For example, the 5 - month vs 1 - month spread of rebar was 58.0 yuan/ton [20]. - **Inter - commodity Spreads**: The inter - commodity spreads of rebar/iron ore, rebar/coke, coke/coking coal, and rebar - hot rolled coil from September 22 to 26, 2025, are provided. On September 26, the rebar/iron ore ratio was 3.94 [20]. - **Basis**: The basis data of rebar, iron ore, coke, and coking coal from September 22 to 26, 2025, are given. On September 26, the basis of rebar was 126.0 yuan/ton [21]. Non - ferrous Metals Domestic Market - The basis data of copper, aluminum, zinc, lead, nickel, and tin in the domestic market from September 22 to 26, 2025, are presented. On September 26, the basis of copper was 40 yuan/ton [28]. London Market - For LME non - ferrous metals on September 26, 2025, the LME spreads, Shanghai - London ratios, CIF prices, domestic spot prices, and import profit and loss data of copper, aluminum, zinc, lead, nickel, and tin are provided. For example, the LME spread of copper was (38.91), and the import profit and loss was (452.74) [33]. Agricultural Products - **Basis**: The basis data of soybeans No.1, soybeans No.2, soybean meal, soybean oil, corn, etc., from September 22 to 26, 2025, are given. On September 26, the basis of soybeans No.1 was 125 yuan/ton [39]. - **Inter - period Spreads**: The inter - period spreads of various agricultural products (5 - month vs 1 - month, 9 - month vs 1 - month, 9 - month vs 5 - month) are presented. For example, the 5 - month vs 1 - month spread of soybeans No.1 was 33 yuan/ton [39]. - **Inter - commodity Spreads**: The inter - commodity spreads of soybeans No.1/corn, soybeans No.2/corn, soybean oil/soybean meal, etc., from September 22 to 26, 2025, are shown. On September 26, the soybeans No.1/corn ratio was 1.81 [39]. Stock Index Futures - **Basis**: The basis data of CSI 300, SSE 50, CSI 500, and CSI 1000 from September 22 to 26, 2025, are provided. On September 26, the basis of CSI 300 was 25.05 [50]. - **Inter - period Spreads**: The inter - period spreads (next - month vs current - month, next - quarter vs current - quarter) of CSI 300, SSE 50, CSI 500, and CSI 1000 are given. For example, the next - month vs current - month spread of CSI 300 was - 14.0 [50].
有色套利早报-20250929
Yong An Qi Huo· 2025-09-29 01:34
有色套利早报 研究中心有色团队 2025/09/29 铜:跨市套利跟踪 2025/09/29 国内价格 LME价格 比价 现货 82480 10233 8.08 三月 82480 10272 8.04 均衡比价 盈利 现货进口 8.12 -652.74 现货出口 134.27 锌:跨市套利跟踪 2025/09/29 国内价格 LME价格 比价 现货 21950 2957 7.42 三月 21995 2918 5.85 均衡比价 盈利 现货进口 8.55 -3338.99 铝:跨市套利跟踪 2025/09/29 国内价格 LME价格 比价 现货 20770 2651 7.83 三月 20755 2656 7.82 均衡比价 盈利 现货进口 8.40 -1511.91 镍:跨市套利跟踪 2025/09/29 国内价格 LME价格 比价 现货 120550 15043 8.01 均衡比价 盈利 现货进口 8.20 -2042.46 跨期套利跟踪 2025/09/29 铜 次月-现货月 三月-现货月 四月-现货月 五月-现货月 价差 -190 -180 -240 -260 理论价差 515 929 1351 1773 ...
有色套利早报-20250925
Yong An Qi Huo· 2025-09-25 01:01
Report Summary 1) Report Industry Investment Rating - Not provided 2) Core Viewpoints - The report presents cross - market, cross - period, and cross - variety arbitrage tracking data for non - ferrous metals on September 25, 2025, including copper, zinc, aluminum, nickel, lead, etc., to help investors understand the price relationships and profit situations in different trading scenarios [1][4][5] 3) Summary by Directory Cross - Market Arbitrage Tracking - **Copper**: On September 25, 2025, the domestic spot price was 80025, the LME price was 9935, and the ratio was 8.05. The equilibrium ratio for spot import was 8.12, with a loss of 693.47, and a profit of 317.82 for spot export [1] - **Zinc**: The domestic spot price was 21830, the LME price was 2941, and the ratio was 7.42. The equilibrium ratio for spot import was 8.55, with a loss of 3318.32 [1] - **Aluminum**: The domestic spot price was 20680, the LME price was 2635, and the ratio was 7.85. The equilibrium ratio for spot import was 8.40, with a loss of 1467.29 [1] - **Nickel**: The domestic spot price was 120450, the LME price was 15121, and the ratio was 7.97. The equilibrium ratio for spot import was 8.20, with a loss of 2283.59 [1] - **Lead**: The domestic spot price was 16925, the LME price was 1960, and the ratio was 8.65. The equilibrium ratio for spot import was 8.84, with a loss of 377.93 [3] Cross - Period Arbitrage Tracking - **Copper**: On September 25, 2025, the spreads between the next month, three - month, four - month, and five - month contracts and the spot month were 30, 10, 20, and 0 respectively, while the theoretical spreads were 502, 901, 1310, and 1719 [4] - **Zinc**: The spreads were 20, 35, 50, and 75, and the theoretical spreads were 212, 330, 449, and 567 [4] - **Aluminum**: The spreads were 20, 20, 35, and 30, and the theoretical spreads were 214, 330, 445, and 561 [4] - **Lead**: The spreads were 25, 50, 35, and 65, and the theoretical spreads were 210, 316, 423, and 529 [4] - **Nickel**: The spreads between the next month, three - month, four - month, and five - month contracts and the spot month were 720, 900, 1160, and 1400 [4] - **Tin**: The 5 - 1 spread was 1360, and the theoretical spread was 5635 [4] Cross - Variety Arbitrage Tracking - On September 25, 2025, the ratios of copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, and lead/zinc for Shanghai (three - continuous) were 3.65, 3.86, 4.68, 0.95, 1.21, and 0.78 respectively, and for London (three - continuous) were 3.52, 3.90, 5.17, 0.90, 1.33, and 0.68 [5] Spot - Futures Arbitrage Tracking - **Copper**: The spreads between the current - month and next - month contracts and the spot were - 75 and - 45 respectively, and the theoretical spreads were 363 and 811 [4] - **Zinc**: The spreads were 10 and 30, and the theoretical spreads were 159 and 286 [4] - **Lead**: The spreads were 115 and 140, and the theoretical spreads were 168 and 281 [5]
宝城期货品种套利数据日报(2025年9月24日):一、动力煤-20250924
Bao Cheng Qi Huo· 2025-09-24 03:01
宝城期货品种套利数据日报(2025 年 9 月 24 日) 一、动力煤 | 商品 | | 动力煤 (元/吨) | | | | --- | --- | --- | --- | --- | | 日期 | 基差 | 5月-1月 | 9月-1月 | 9月-5月 | | 2025/09/23 | -96.4 | 0.0 | 0.0 | 0.0 | | 2025/09/22 | -97.4 | 0.0 | 0.0 | 0.0 | | 2025/09/19 | -102.4 | 0.0 | 0.0 | 0.0 | | 2025/09/18 | -108.4 | 0.0 | 0.0 | 0.0 | | 2025/09/17 | -113.4 | 0.0 | 0.0 | 0.0 | 投资咨询业务资格:证监许可【2011】1778 号 运筹帷幄 决胜千里 运筹帷幄 决胜千里 二、能源化工 www.bcqhgs.com 2 杭州市求是路8号公元大厦东南裙楼1-5层 2025/09/23 2025/09/22 2025/09/19 2025/09/18 2025/09/17 99.63 0.1418 14.42 0.1444 燃料油 ...
财通证券:期货|如何参与曲线形态套利?
Xin Lang Cai Jing· 2025-09-24 01:19
Group 1 - The article discusses common arbitrage combinations such as TS*2-TF, TS*4-T, TF*2-T, and T*3-TL, which often deviate from the corresponding cash bond yield spread trends due to not achieving duration neutrality, thus failing to immunize against interest rate risk [2][7][20] - It highlights the importance of considering interest rate fluctuations when tracking yield spreads with these arbitrage combinations, suggesting that an ideal approach is to gain potential returns from both yield spreads and unilateral volatility [2][19] - The current duration gaps for various combinations indicate that if interest rates are expected to decline, attention should be paid to opportunities in the 7Y-5Y yield spread narrowing or the 5Y-2Y and 30Y-7Y yield spreads widening [2][20][21] Group 2 - The article emphasizes that the net basis can significantly impact the short-term performance of arbitrage combinations, advising that when constructing these combinations, the overall net basis level should be considered [2][15][17] - It notes that the historical performance of net basis fluctuations has been limited to a range of ±1 yuan, with recent trends showing a convergence to around ±0.5 yuan, indicating a reduced impact on combination value [15][17] - The report suggests that when engaging in curve shape arbitrage, it is crucial to consider both the current yield spread position and the duration gap, as well as the expected direction of future interest rate movements [19][20][26]
宝城期货品种套利数据日报(2025年9月23日)-20250923
Bao Cheng Qi Huo· 2025-09-23 02:14
Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Core View The report presents the daily arbitrage data of various futures varieties on September 23, 2025, including power coal, energy chemicals, black metals, non - ferrous metals, agricultural products, and stock index futures, covering aspects such as basis, inter - period spreads, and inter - variety spreads. 3. Summary by Catalog Power Coal - The basis data from September 16 to 22, 2025, shows that the basis on September 22 was - 96.4 yuan/ton, gradually increasing from - 113.4 yuan/ton on September 16. The spreads of 5 - month vs 1 - month, 9 - month vs 1 - month, and 9 - month vs 5 - month were all 0.0 [1][2] Energy Chemicals - **Energy Commodities**: The basis data of fuel oil, INE crude oil, and crude oil/asphalt from September 16 to 22, 2025, and their price ratios and basis values are presented. For example, on September 22, the basis of INE crude oil was 84.22 yuan/ton [7] - **Chemical Commodities**: - **Basis**: The basis data of rubber, methanol, PTA, LLDPE, V, and PP from September 16 to 22, 2025, are provided. For instance, the basis of rubber on September 22 was - 915 yuan/ton [9] - **Inter - period Spreads**: The inter - period spreads of rubber, methanol, PTA, LLDPE, PVC, PP, and ethylene glycol for 5 - month vs 1 - month, 9 - month vs 1 - month, and 9 - month vs 5 - month are given. For example, the 5 - month vs 1 - month spread of rubber was - 20 yuan/ton [11] - **Inter - variety Spreads**: The inter - variety spreads of LLDPE - PVC, LLDPE - PP, PP - PVC, and PP - 3*methanol from September 16 to 22, 2025, are presented. For example, on September 22, the LLDPE - PVC spread was 2198 yuan/ton [11] Black Metals - **Basis**: The basis data of rebar, iron ore, coke, and coking coal from September 16 to 22, 2025, are shown. For example, the basis of rebar on September 22 was 105.0 yuan/ton [21] - **Inter - period Spreads**: The inter - period spreads of rebar, iron ore, coke, and coking coal for 5 - month vs 1 - month, 9(10) - month vs 1 - month, and 9(10) - month vs 5 - month are provided. For example, the 5 - month vs 1 - month spread of rebar was 58.0 yuan/ton [20] - **Inter - variety Spreads**: The inter - variety spreads of rebar/iron ore, rebar/coke, coke/coking coal, and rebar - hot rolled coil from September 16 to 22, 2025, are presented. For example, on September 22, the rebar/iron ore ratio was 3.92 [20] Non - ferrous Metals - **Domestic Market**: The domestic basis data of copper, aluminum, zinc, lead, nickel, and tin from September 16 to 22, 2025, are given. For example, the basis of copper on September 22 was - 30 yuan/ton [28] - **London Market**: The LME spreads, Shanghai - London ratios, CIF prices, domestic spot prices, and import profit and loss data of copper, aluminum, zinc, lead, nickel, and tin on September 22, 2025, are presented. For example, the LME spread of copper was (72.44) [34] Agricultural Products - **Basis**: The basis data of soybeans No.1, soybeans No.2, soybean meal, soybean oil, corn, etc., from September 16 to 22, 2025, are provided. For example, the basis of soybeans No.1 on September 22 was 148 yuan/ton [40] - **Inter - period Spreads**: The inter - period spreads of various agricultural products for 5 - month vs 1 - month, 9 - month vs 1 - month, and 9 - month vs 5 - month are given. For example, the 5 - month vs 1 - month spread of soybeans No.1 was 41 yuan/ton [40] - **Inter - variety Spreads**: The inter - variety spreads of soybeans No.1/corn, soybeans No.2/corn, soybean oil/soybean meal, etc., from September 16 to 22, 2025, are presented. For example, on September 22, the soybeans No.1/corn ratio was 1.81 [40] Stock Index Futures - **Basis**: The basis data of CSI 300, SSE 50, CSI 500, and CSI 1000 from September 16 to 22, 2025, are shown. For example, the basis of CSI 300 on September 22 was 38.61 [51] - **Inter - period Spreads**: The inter - period spreads of CSI 300, SSE 50, CSI 500, and CSI 1000 for next - month vs current - month and next - quarter vs current - quarter are provided. For example, the next - month vs current - month spread of CSI 300 was - 15.6 [51]
有色套利早报-20250922
Yong An Qi Huo· 2025-09-22 01:50
Report Overview - The report is the "Non-ferrous Arbitrage Morning Report" released by the Non-ferrous Team of the Research Center on September 22, 2025, focusing on cross - market, cross - period, and cross -品种 arbitrage tracking of non - ferrous metals [1] Cross - Market Arbitrage Copper - Spot price: domestic 79980, LME 9898, ratio 8.05; March price: domestic 79880, LME 9963, ratio 8.02; Spot import equilibrium ratio 8.11, profit - 331.21; Spot export profit - 55.51 [1] Zinc - Spot price: domestic 22000, LME 2969, ratio 7.41; March price: domestic 22060, LME 2918, ratio 5.87; Spot import equilibrium ratio 8.53, profit - 3326.26 [1] Aluminum - Spot price: domestic 20810, LME 2698, ratio 7.71; March price: domestic 20795, LME 2693, ratio 7.74; Spot import equilibrium ratio 8.37, profit - 1780.86 [1] Nickel - Spot price: domestic 120750, LME 15146, ratio 7.97; Spot import equilibrium ratio 8.18, profit - 2190.00 [1] Lead - Spot price: domestic 17025, LME 1967, ratio 8.64; March price: domestic 17200, LME 2011, ratio 10.97; Spot import equilibrium ratio 8.82, profit - 347.77 [3] Cross - Period Arbitrage Copper - Sub - month - spot month, March - spot month, April - spot month, May - spot month spreads are 230, 260, 240, 240 respectively; Theoretical spreads are 500, 898, 1305, 1712 respectively [4] Zinc - Sub - month - spot month, March - spot month, April - spot month, May - spot month spreads are 5, 25, 45, 75 respectively; Theoretical spreads are 213, 332, 452, 571 respectively [4] Aluminum - Sub - month - spot month, March - spot month, April - spot month, May - spot month spreads are 20, 20, 15, 20 respectively; Theoretical spreads are 215, 331, 447, 563 respectively [4] Lead - Sub - month - spot month, March - spot month, April - spot month, May - spot month spreads are 35, 55, 25, 30 respectively; Theoretical spreads are 211, 317, 424, 531 respectively [4] Nickel - Sub - month - spot month, March - spot month, April - spot month, May - spot month spreads are 790, 980, 1220, 1460 respectively [4] Tin - 5 - 1 spread is 640, theoretical spread is 5579 [4] Spot - Futures Arbitrage Copper - Current month contract - spot spread is - 330, theoretical spread is 398; Sub - month contract - spot spread is - 100, theoretical spread is 874 [4] Zinc - Current month contract - spot spread is 35, theoretical spread is 182; Sub - month contract - spot spread is 40, theoretical spread is 311 [4] Lead - Current month contract - spot spread is 120, theoretical spread is 188; Sub - month contract - spot spread is 155, theoretical spread is 302 [5] Cross - Variety Arbitrage - Copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, lead/zinc: Shanghai (three - continuous) ratios are 3.62, 3.84, 4.64, 0.94, 1.21, 0.78 respectively; London (three - continuous) ratios are 3.46, 3.74, 5.00, 0.92, 1.34, 0.69 respectively [5]
宝城期货品种套利数据日报(2025年9月19日)-20250919
Bao Cheng Qi Huo· 2025-09-19 03:29
Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Core View of the Report The report presents the daily arbitrage data of various futures products on September 19, 2025, including power coal, energy chemicals, black metals, non - ferrous metals, agricultural products, and stock index futures, covering aspects such as basis, inter - period spreads, and inter - variety spreads. 3. Summary by Directory Power Coal - The basis data for power coal from September 12 to September 18, 2025, is presented. On September 18, the basis was - 102.4 yuan/ton, showing a narrowing trend compared to previous days [1][2]. Energy Chemicals - **Energy Commodities**: Basis data for fuel oil, INE crude oil, and the ratio of crude oil to asphalt from September 12 to September 18, 2025, are provided. For example, on September 18, the basis of INE crude oil was 5.25 yuan/ton [7]. - **Chemical Commodities**: - Basis data for rubber, methanol, PTA, LLDPE, V, and PP from September 12 to September 18, 2025, are given. For instance, on September 18, the basis of rubber was - 770 yuan/ton [9]. - Inter - period spreads for rubber, methanol, PTA, etc., and inter - variety spreads such as LLDPE - PVC, LLDPE - PP, etc., from September 12 to September 18, 2025, are presented [10]. Black Metals - **Inter - period Spreads**: Inter - period spreads for rebar, iron ore, coke, and coking coal are provided, including 5 - month minus 1 - month, 9(10) - month minus 1 - month, and 9(10) - month minus 5 - month spreads [20]. - **Inter - variety Spreads**: Inter - variety spreads such as the ratio of rebar to iron ore, rebar to coke, and coke to coking coal, as well as the difference between rebar and hot - rolled coil from September 12 to September 18, 2025, are shown [20]. - **Basis**: Basis data for rebar, iron ore, coke, and coking coal from September 12 to September 18, 2025, are presented [21]. Non - ferrous Metals - **Domestic Market**: Basis data for copper, aluminum, zinc, lead, nickel, and tin in the domestic market from September 12 to September 18, 2025, are provided [28]. - **London Market**: LME spreads, Shanghai - London ratios, CIF prices, domestic spot prices, and import profit and loss data for copper, aluminum, zinc, lead, nickel, and tin on September 18, 2025, are presented [33]. Agricultural Products - **Basis**: Basis data for soybeans, soybean meal, soybean oil, corn, etc., from September 12 to September 18, 2025, are given [38]. - **Inter - period Spreads**: Inter - period spreads for various agricultural products, including soybeans, soybean meal, soybean oil, etc., are provided [38]. - **Inter - variety Spreads**: Inter - variety spreads such as the ratio of soybeans to corn, soybean oil to soybean meal, and the difference between soybean meal and rapeseed meal from September 12 to September 18, 2025, are presented [38]. Stock Index Futures - **Basis**: Basis data for CSI 300, SSE 50, CSI 500, and CSI 1000 from September 12 to September 18, 2025, are provided [50]. - **Inter - period Spreads**: Inter - period spreads for CSI 300, SSE 50, CSI 500, and CSI 1000, including the difference between the next - month contract and the current - month contract and the next - quarter contract and the current - quarter contract, are presented [50].
宝城期货品种套利数据日报-20250918
Bao Cheng Qi Huo· 2025-09-18 02:02
1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints of the Report - The report is a daily report on futures product arbitrage data from Baocheng Futures on September 18, 2025, presenting basis, inter - period, and cross - variety data for various futures products [1][5][21][27][39][51] 3. Summary by Relevant Catalogs 3.1 Power Coal - The basis data for power coal from September 11 to September 17, 2025, shows that the basis on September 17 was - 108.4 yuan/ton, gradually increasing from - 126.4 yuan/ton on September 11. The 5 - 1, 9 - 1, and 9 - 5 inter - period spreads were all 0.0 during this period [2] 3.2 Energy and Chemicals 3.2.1 Energy Commodities - For energy commodities, basis data for fuel oil, INE crude oil, and the ratio of crude oil to asphalt are provided from September 11 to September 17, 2025. For example, the basis of INE crude oil on September 17 was 20.13 yuan/ton [7] 3.2.2 Chemical Commodities - **Basis**: The basis data for rubber, methanol, PTA, LLDPE, PVC, and PP from September 11 to September 17, 2025, shows different trends. For instance, the basis of rubber on September 17 was - 830 yuan/ton, improving from - 1005 yuan/ton on September 11 [9] - **Inter - period Spreads**: The 5 - 1, 9 - 1, and 9 - 5 inter - period spreads for rubber, methanol, PTA, LLDPE, PVC, PP, and ethylene glycol are presented. For example, the 5 - 1 inter - period spread of PVC was 301 yuan/ton [10] - **Cross - variety Spreads**: The cross - variety spreads such as LLDPE - PVC, LLDPE - PP, PP - PVC, and PP - 3*methanol from September 11 to September 17, 2025, are given. For example, the LLDPE - PVC spread on September 17 was 2282 yuan/ton [10] 3.3 Black Metals - **Basis**: The basis data for rebar, iron ore, coke, and coking coal from September 11 to September 17, 2025, shows fluctuations. For example, the basis of rebar on September 17 was 72.0 yuan/ton [21] - **Inter - period Spreads**: The 5 - 1, 9(10) - 1, and 9(10) - 5 inter - period spreads for rebar, iron ore, coke, and coking coal are provided. For example, the 5 - 1 inter - period spread of rebar was 71.0 yuan/ton [20] - **Cross - variety Spreads**: The cross - variety spreads such as rebar/iron ore, rebar/coke, coke/coking coal, and rebar - hot rolled coil from September 11 to September 17, 2025, are presented. For example, the rebar/iron ore ratio on September 17 was 3.94 [20] 3.4 Non - ferrous Metals 3.4.1 Domestic Market - The domestic basis data for copper, aluminum, zinc, lead, nickel, and tin from September 11 to September 17, 2025, shows different changes. For example, the basis of copper on September 17 was 20 yuan/ton [28] 3.4.2 London Market - Data for LME non - ferrous metals on September 17, 2025, including LME premium/discount, Shanghai - London ratio, CIF price, domestic spot price, and import profit/loss, are provided. For example, the LME premium/discount of copper was (71.13) [33] 3.5 Agricultural Products - **Basis**: The basis data for soybeans No.1, soybeans No.2, soybean meal, soybean oil, corn, etc., from September 11 to September 17, 2025, shows trends. For example, the basis of soybeans No.1 on September 17 was 165 yuan/ton [40] - **Inter - period Spreads**: The 5 - 1, 9 - 1, and 9 - 5 inter - period spreads for soybeans No.1, soybeans No.2, soybean meal, soybean oil, rapeseed meal, etc., are presented. For example, the 5 - 1 inter - period spread of soybeans No.1 was 45 yuan/ton [40] - **Cross - variety Spreads**: The cross - variety spreads such as soybeans No.1/corn, soybeans No.2/corn, soybean oil/soybean meal, etc., from September 11 to September 17, 2025, are given. For example, the soybeans No.1/corn ratio on September 17 was 1.81 [40] 3.6 Stock Index Futures - **Basis**: The basis data for CSI 300, SSE 50, CSI 500, and CSI 1000 from September 11 to September 17, 2025, shows changes. For example, the basis of CSI 300 on September 17 was - 2.18 [52] - **Inter - period Spreads**: The next - month - current - month and next - quarter - current - quarter inter - period spreads for CSI 300, SSE 50, CSI 500, and CSI 1000 are provided. For example, the next - month - current - month inter - period spread of CSI 300 was - 10.2 [52]