Report Overview - Report Date: May 21, 2025 [3] - Data Sources: Wind, Mysteel, GF Futures Research Institute [4] Core Data Summary Metals - **Ferroalloys**: Silicon iron (SF507) had a spot price of 5778, a futures price of 5638, a basis of 140, and a basis rate of 2.48%. Silicon manganese (SM509) had a spot price of 5870 and a futures price of 5778, with a basis rate of 1.59% [1]. - **Steel Products**: Rebar (RB2510) had a spot price of 3058 and a futures price of 3280, with a basis rate of -2.44%. Hot - rolled coil (HC2510) had a spot price of 3202 and a futures price of 3280, with a basis rate of 2.44% [1]. - **Iron Ore and Coking Coal**: Iron ore (I2509) had a spot price of 725 and a futures price of 800, with a basis rate of 10.30%. Coking coal (JM2509) had a spot price of 1025 and a futures price of 839, with a basis rate of 22.24% [1]. - **Non - ferrous Metals**: Copper (CU2506) had a spot price of 78340, a futures price of 77540, a basis of 390, and a basis rate of 1.03%. Aluminum (AL2507) had a spot price of 20210, a futures price of 20075, a basis of 135, and a basis rate of 0.67% [1]. - **Precious Metals**: Gold (AU2508) had a spot price of 754.4, a futures price of 752.2, a basis of - 2.2, and a basis rate of - 0.29%. Silver (AG2508) had a spot price of 8057.0, a futures price of 8074.0, a basis of - 17.0, and a basis rate of - 0.21% [1]. Agricultural Products - **Oilseeds and Oils**: Soybean meal (M2509) had a spot price of 2889.0, a futures price of 2860, a basis of 29.0, and a basis rate of 1.00%. Soybean oil (Y2509) had a spot price of 8080, a futures price of 7820.0, a basis of 260.0, and a basis rate of 3.32% [1]. - **Grains and Others**: Corn (C2507) had a spot price of 2310, a futures price of 2312.0, a basis of - 2.0, and a basis rate of - 0.09%. Wheat (not detailed in a clear - cut manner in the table but presented in the overall structure) [1]. - **Livestock and Poultry Products**: Live hogs (LH2509) had a spot price of 14780, a futures price of 13690.0, a basis of 1090.0, and a basis rate of 7.96%. Eggs (JD2507) had a spot price of 3000, a futures price of 2964.0, a basis of 36.0, and a basis rate of 1.21% [1]. Energy and Chemicals - **Petrochemicals**: Para - xylene (PX509) had a spot price of 6883.3, a futures price of 6668.0, a basis of 215.3, and a basis rate of 3.23%. PTA (TA509) had a spot price of 4850.0, a futures price of 4732.0, a basis of 118.0, and a basis rate of 2.49% [1]. - **Plastics and Rubbers**: LLDPE (L2509) had a spot price of 7400.0, a futures price of 7222.0, a basis of 178.0, and a basis rate of 2.46%. PP (PP2509) had a spot price of 7260.0, a futures price of 7047.0, a basis of 213.0, and a basis rate of 3.02% [1]. - **Other Chemicals**: Glass (FG509) had a spot price of 1072.0, a futures price of 1025.0, a basis of 47.0, and a basis rate of 4.38%. Soda ash (SA509) had a spot price of 1315.0, a futures price of 1280.0, a basis of 35.0, and a basis rate of 2.66% [1]. Financial Futures - **Stock Index Futures**: CSI 300 (IF2506) had a spot price of 3898.2, a futures price of 3865.4, a basis of - 32.8, and a basis rate of - 0.85%. SSE 50 (IH2506) had a spot price of 2716.6, a futures price of 2699.4, a basis of - 17.2, and a basis rate of - 0.64% [1]. - **Bond Futures**: 2 - year bond (TS2506) had a spot price of 102.36, a futures price of 100.20, a basis of - 0.08, and a basis rate of - 0.07%. 5 - year bond (TF2506) had a spot price of 105.98, a futures price of 100.86, a basis of - 0.05, and a basis rate of - 0.04% [1].

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core View No information provided. 3. Summary by Related Catalogs Metals and Minerals - **Ferrosilicon (SF506)**: Spot price is 5928, futures price is 5758, with a basis of 170 and a basis rate of 2.95%. It has a historical quantile of 56.00% [1]. - **Silicomanganese (SM509)**: Spot price is 5950, futures price is 5608, with a basis of 342 and a basis rate of 6.10%. It has a historical quantile of 56.00% [1]. - **Rebar (RB2510)**: Spot price is 3220, futures price is 3100, with a basis of 120 and a basis rate of 3.90%. It has a historical quantile of 56.10% [1]. - **Hot - rolled coil (HC2510)**: Spot price is 3260, futures price is 3210, with a basis of 50 and a basis rate of 1.60%. It has a historical quantile of 40.30% [1]. - **Iron ore (I2509)**: Spot price is 794, futures price is 709, with a basis of 85 and a basis rate of 12.00%. It has a historical quantile of 62.40% [1]. - **Coke (J2509)**: Spot price is 1553, futures price is 1520, with a basis of 33 and a basis rate of 2.17%. It has a historical quantile of 29.20% [1]. - **Coking coal (JM2509)**: Spot price is 1053, futures price is 932, with a basis of 121 and a basis rate of 13.00%. It has a historical quantile of 61.80% [1]. Non - ferrous Metals - **Copper (CU2506)**: Spot price is 78035, futures price is 77600, with a basis of 435 and a basis rate of 0.56%. It has a historical quantile of 80.60% [1]. - **Aluminum (AL2506)**: Spot price is 20020, futures price is 19930, with a basis of 90 and a basis rate of 0.45%. It has a historical quantile of 72.70% [1]. - **Alumina (AO2509)**: Spot price is 2896, futures price is 2827, with a basis of 69 and a basis rate of 2.44%. It has a historical quantile of 73.60% [1]. - **Zinc (ZN2506)**: Spot price is 22900, futures price is 22550, with a basis of 350 and a basis rate of 1.55%. It has a historical quantile of 89.40% [1]. - **Tin (SN2506)**: Spot price is 262200, futures price is 261560, with a basis of 640 and a basis rate of 0.24%. It has a historical quantile of 64.60% [1]. - **Nickel (NI2506)**: Spot price is 124600, futures price is 124180, with a basis of 420 and a basis rate of 0.34%. It has a historical quantile of 67.70% [1]. - **Stainless steel (SS2506)**: Spot price is 13220, futures price is 12765, with a basis of 455 and a basis rate of 3.56%. It has a historical quantile of 86.70% [1]. - **Lithium carbonate (LC2507)**: Spot price is 68250, futures price is 66260, with a basis of 1990 and a basis rate of 3.00%. It has a historical quantile of 68.50% [1]. - **Industrial silicon (SI2506)**: Spot price is 9450, futures price is 8540, with a basis of 910 and a basis rate of 10.66%. It has a historical quantile of 62.21% [1]. Precious Metals - **Gold (AU2506)**: Spot price is 785.1, futures price is 781.6, with a basis of - 3.6 and a basis rate of - 0.46%. It has a historical quantile of 13.30% [1]. - **Silver (AG2506)**: Spot price is 8215.0, futures price is 8197.0, with a basis of 18.0 and a basis rate of 0.22%. It has a historical quantile of 38.50% [1]. Agricultural Products - **Soybean meal (M2509)**: Spot price is 3330, futures price is 2964, with a basis of 366 and a basis rate of 12.35%. It has a historical quantile of 63.10% [1]. - **Soybean oil (Y2509)**: Spot price is 8140, futures price is 7780, with a basis of 360 and a basis rate of 4.63%. It has a historical quantile of 44.50% [1]. - **Palm oil (P2509)**: Spot price is 8760, futures price is 8120, with a basis of 640 and a basis rate of 7.88%. It has a historical quantile of 75.10% [1]. - **Rapeseed meal (RM509)**: Spot price is 2588, futures price is 2540, with a basis of 48 and a basis rate of 1.88%. It has a historical quantile of 29.20% [1]. - **Rapeseed oil (OI509)**: Spot price is 9430, futures price is 9302, with a basis of 128 and a basis rate of 1.36%. It has a historical quantile of 46.90% [1]. - **Corn (C2507)**: Spot price is 2355, futures price is 2280, with a basis of - 75 and a basis rate of - 3.18%. It has a historical quantile of 13.40% [1]. - **Corn starch (CS2507)**: Spot price is 2721, futures price is 2630, with a basis of - 91 and a basis rate of - 3.34%. It has a historical quantile of 1.30% [1]. - **Live pigs (LH2509)**: Spot price is 14830, futures price is 13930, with a basis of 900 and a basis rate of 6.46%. It has a historical quantile of 67.70% [1]. - **Eggs (JD2506)**: Spot price is 3110, futures price is 2989, with a basis of 121 and a basis rate of 4.05%. It has a historical quantile of 39.80% [1]. - **Cotton (CF509)**: Spot price is 13982, futures price is 12840, with a basis of 1142 and a basis rate of 8.89%. It has a historical quantile of 79.90% [1]. - **Sugar (SR509)**: Spot price is 6260, futures price is 5936, with a basis of 324 and a basis rate of 5.46%. It has a historical quantile of 67.10% [1]. - **Apples (AP510)**: Spot price is 8000, futures price is 7948, with a basis of 52 and a basis rate of 0.65%. It has a historical quantile of 38.80% [1]. - **Jujubes (CJ509)**: Spot price is 8965, futures price is 8300, with a basis of 665 and a basis rate of 7.42%. It has a historical quantile of 68.40% [1]. Energy and Chemicals - **Para - xylene (PX509)**: Spot price is 6330.7, futures price is 6206.0, with a basis of 124.7 and a basis rate of 2.01%. It has a historical quantile of 67.80% [1]. - **PTA (TA509)**: Spot price is 4520, futures price is 4440, with a basis of 80 and a basis rate of 1.80%. It has a historical quantile of 72.90% [1]. - **Ethylene glycol (EG2509)**: Spot price is 4225, futures price is 4187, with a basis of 38 and a basis rate of 0.91%. It has a historical quantile of 76.60% [1]. - **Polyester staple fiber (PF506)**: Spot price is 6345, futures price is 6184, with a basis of 161 and a basis rate of 2.60%. It has a historical quantile of 79.30% [1]. - **Styrene (EB2506)**: Spot price is 7250, futures price is 7072, with a basis of 178 and a basis rate of 2.52%. It has a historical quantile of 62.70% [1]. - **Methanol (MA509)**: Spot price is 2437, futures price is 2278, with a basis of 159 and a basis rate of 6.98%. It has a historical quantile of 92.80% [1]. - **Urea (UR509)**: Spot price is 1810, futures price is 1735, with a basis of 75 and a basis rate of 4.32%. It has a historical quantile of 34.80% [1]. - **LLDPE (L2509)**: Spot price is 7475, futures price is 7122, with a basis of 353 and a basis rate of 4.96%. It has a historical quantile of 90.50% [1]. - **PP (PP2509)**: Spot price is 7305, futures price is 7092, with a basis of 213 and a basis rate of 3.00%. It has a historical quantile of 72.60% [1]. - **PVC (V2509)**: Spot price is 4949, futures price is 4780, with a basis of - 169 and a basis rate of - 3.41%. It has a historical quantile of 34.40% [1]. - **Caustic soda (SH509)**: Spot price is 2437.5, futures price is 2431.0, with a basis of 6.5 and a basis rate of 0.27%. It has a historical quantile of 54.30% [1]. - **LPG (PG2506)**: Spot price is 5098, futures price is 4399, with a basis of 699 and a basis rate of 15.89%. It has a historical quantile of 83.10% [1]. - **Asphalt (BU2506)**: Spot price is 3560, futures price is 3430, with a basis of 130 and a basis rate of 3.79%. It has a historical quantile of 78.00% [1]. - **Butadiene rubber (BR2506)**: Spot price is 11700, futures price is 11225, with a basis of 475 and a basis rate of 4.23%. It has a historical quantile of 78.40% [1]. - **Glass (FG509)**: Spot price is 1136, futures price is 1108, with a basis of 28 and a basis rate of 2.46%. It has a historical quantile of 71.78% [1]. - **Soda ash (SA509)**: Spot price is 1376, futures price is 1349, with a basis of - 27 and a basis rate of - 2.00%. It has a historical quantile of 16.42% [1]. - **Natural rubber (RU2509)**: Spot price is 14635, futures price is 14550, with a basis of - 85 and a basis rate of - 0.58%. It has a historical quantile of 94.69% [1]. Financial Futures - **IF2506.CFE**: Spot price is 3775.1, futures price is 3724.8, with a basis of - 50.3 and a basis rate of - 1.35%. It has a historical quantile of 4.70% [1]. - **IH2506.CFE**: Spot price is 2645.5, futures price is 2621.2, with a basis of - 24.3 and a basis rate of - 0.93%. It has a historical quantile of 5.40% [1]. - **IC2506.CFE**: Spot price is 5604.9, futures price is 5487.2, with a basis of - 117.7 and a basis rate of - 2.15%. It has a historical quantile of 1.10% [1]. - **IM2506.CFE**: Spot price is 5903.4, futures price is 5773.6, with a basis of - 129.8 and a basis rate of - 2.25%. It has a historical quantile of 4.00% [1]. - **2 - year Treasury bond (TS2506)**: Spot price is 102.33, futures price is 99.33, with a basis of - 0.13 and a basis rate of - 0.13%. It has a historical quantile of 5.90% [1]. - **5 - year Treasury bond (TF2506)**: Spot price is 106.05, futures price is 101.61, with a basis of - 0.06 and a basis rate of - 0.06%. It has a historical quantile of 19.70% [1]. - **10 - year Treasury bond (T2506)**: Spot price is 109.07, futures price is 107.48, with a basis of 0.05 and a basis rate of 0.04%. It has a historical quantile of 20.10% [1]. - **30 - year Treasury bond (TL2506)**: Spot price is 138.31, futures price is 120.90, with a basis of 0.15 and a basis rate of 1.14%. It has a historical quantile of 21.50% [1].