数据来源：MYSTEEL 免责 以上内容所依据的信息均来源于交易所、媒体及资讯公司等发布的公开资料或通过合法授权渠道向发布人取得的资讯，我们力求分析及 建议内容的客观、公正，研究方法专业审慎，分析结论合理，但我司对信息来源的准确性和完整性不作任何保证，也不保证所依据的信 息和建议不会发生任何变化。我们提供的全部分析及建议内容仅供参考，不构成对您的任何投资建议及入市依据，您应当自主做出期货 交易决策，独立承担期货交易后果，凡据此入市者，我司不承担任何责任。我司在为您提供服务时已最大程度避免与您产生利益冲突。 未经我司授权，不得随意转载、复制、传播本网站中所有研究分析报告、行情分析视频等全部或部分材料、内容。对可能因互联网软硬 件设备故障或失灵、或因不可抗力造成的全部或部分信息中断、延迟、遗漏、误导或造成资料传输或储存上的错误、或遭第三人侵入系 统篡改或伪造变造资料等，我司均不承担任何责任。 声明 15 20 25 30 35 40 1/1 2/1 3/1 4/1 5/1 6/1 7/1 8/1 9/1 10/1 11/1 12/1 - 2022 2023 2024 2025 / 5 7 9 11 13 15 1 ...

数据来源：MYSTEEL 免责 以上内容所依据的信息均来源于交易所、媒体及资讯公司等发布的公开资料或通过合法授权渠道向发布人取得的资讯，我们力求分析及 建议内容的客观、公正，研究方法专业审慎，分析结论合理，但我司对信息来源的准确性和完整性不作任何保证，也不保证所依据的信 息和建议不会发生任何变化。我们提供的全部分析及建议内容仅供参考，不构成对您的任何投资建议及入市依据，您应当自主做出期货 交易决策，独立承担期货交易后果，凡据此入市者，我司不承担任何责任。我司在为您提供服务时已最大程度避免与您产生利益冲突。 未经我司授权，不得随意转载、复制、传播本网站中所有研究分析报告、行情分析视频等全部或部分材料、内容。对可能因互联网软硬 件设备故障或失灵、或因不可抗力造成的全部或部分信息中断、延迟、遗漏、误导或造成资料传输或储存上的错误、或遭第三人侵入系 统篡改或伪造变造资料等，我司均不承担任何责任。 声明 15 20 25 30 35 40 1/1 2/1 3/1 4/1 5/1 6/1 7/1 8/1 9/1 10/1 11/1 12/1 - 2022 2023 2024 2025 / 5 7 9 11 13 15 1 ...

铁矿石日报 2025 年 08 月 21 日 大宗商品研究所 黑色研发报告 | | 今日 | 昨日 | 涨跌 | | 今日 | 昨日 | 涨跌 | | --- | --- | --- | --- | --- | --- | --- | --- | | DCE01 | 772.5 | 769.0 | 3.5 | I01-I05 | 24.5 | 22.0 | 2.5 | | DCE05 | 748.0 | 747.0 | 1.0 | I05-I09 | -43.0 | -39.0 | -4.0 | | DCE09 | 791.0 | 786.0 | 5.0 | I09-I01 | 18.5 | 17.0 | 1.5 | | 现货 | 昨天 | 前天 | 涨跌 | 折标准品 | 01厂库基差 | 05厂库基差 | 09厂库基差 | | PB粉 | 767 | 768 | -1 | 808 | 31 | 53 | 14 | | 纽曼粉 | 762 | 763 | -1 | 814 | 37 | 59 | 20 | | 麦克粉 | 754 | 756 | -2 | 817 | 40 | 62 | 23 | | 金布巴 ...

Report Summary 1. Report Industry Investment Rating No information about the industry investment rating is provided in the report. 2. Report's Core View No clear core view is presented in the given content. The report mainly offers data on iron ore futures, spot prices, spreads, and import profits. 3. Summary by Relevant Catalog Futures Prices - DCE01 decreased from 771.0 to 769.0, a drop of 2.0; DCE05 fell from 749.5 to 747.0, a decline of 2.5; DCE09 declined from 789.0 to 786.0, a decrease of 3.0 [2] - I01 - I05 increased from 21.5 to 22.0, a rise of 0.5; I05 - I09 increased from -39.5 to -39.0, a rise of 0.5; I09 - I01 decreased from 18.0 to 17.0, a drop of 1.0 [2] Spot Prices - PB powder decreased from 770 to 768, a drop of 2; Newman powder decreased from 764 to 763, a decline of 1; Mac powder decreased from 761 to 756, a decrease of 5 [2] - The optimal deliverable is PB powder with a price of 809 after deducting the 8 yuan/ton warehouse - out fee [2] Spot Price Spreads - The spread of Carajás fines - PB powder increased from 105 to 109, a rise of 4; Newman powder - Jinbuba powder decreased from 21 to 20, a decline of 1; Carajás fines - Jinbuba powder increased from 132 to 134, a rise of 2 [2] Import Profits - Carajás fines' import profit increased from -26 to -23, a rise of 3; Newman powder's import profit remained at 0; PB powder's import profit decreased from -5 to -6, a drop of 1 [2] Index Prices - The Platts Iron Ore 62% price decreased from 101.1 to 100.8, a drop of 0.3; the Platts Iron Ore 65% price decreased from 118.6 to 118.3, a decline of 0.3; the Platts Iron Ore 58% price decreased from 89.2 to 88.8, a decrease of 0.4 [2][4] 内外盘美金价差 - SGX主力 - DCE01 decreased from 7.7 to 7.5, a drop of 0.2; SGX主力 - DCE05 decreased from 10.4 to 10.2, a decline of 0.3; SGX主力 - DCE09 decreased from 5.4 to 5.2, a decrease of 0.2 [2][4]

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints No information provided. 3. Summary by Relevant Content Futures Prices - DCE01 decreased from 772.0 to 771.0, a drop of 1.0; DCE05 decreased from 750.0 to 749.5, a drop of 0.5; DCE09 decreased from 790.0 to 789.0, a drop of 1.0 [2] - I01 - I05 decreased from 22.0 to 21.5, a drop of 0.5; I05 - I09 increased from -40.0 to -39.5, an increase of 0.5; I09 - I01 remained unchanged at 18.0 [2] Spot Prices - Most spot prices showed a downward trend, such as PB powder decreased from 772 to 770, a drop of 2; Newman powder remained unchanged at 764; Mac powder decreased from 763 to 761, a drop of 2 [2] - The optimal deliverable was PB powder, with a converted standard product price of 811, 01 factory - warehouse basis of 31, 05 factory - warehouse basis of 53, and 09 factory - warehouse basis of 13 [2] Spot Variety Spreads - The spread between Carajás fines and PB powder decreased from 112 to 105, a drop of 7; the spread between Newman powder and Jimbuck decreased from 19 to 21, an increase of 2; the spread between Carajás fines and Jimbuck decreased from 139 to 132, a drop of 7 [2] Import Profits - The import profit of Carajás fines decreased from -26 to -26, a decrease of 1; the import profit of Newman powder increased from -5 to 0, an increase of 5; the import profit of PB powder increased from -9 to -5, an increase of 4 [2] Platts Index - The Platts 62% iron ore price decreased from 101.8 to 101.1, a decrease of 0.8; the Platts 65% iron ore price decreased from 119.6 to 118.6, a decrease of 1.1; the Platts 58% iron ore price decreased from 89.6 to 89.2, a decrease of 0.4 [2] Domestic and Foreign US Dollar Spreads - The spread between SGX main contract and DCE01 remained unchanged at 7.7; the spread between SGX main contract and DCE05 increased from 10.3 to 10.4, an increase of 0.2; the spread between SGX main contract and DCE09 decreased from 5.7 to 5.4, a decrease of 0.3 [2]

Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Core View of the Report - No relevant content provided Group 3: Summary of Iron Ore Spot Data - **Australian mainstream iron ore**: Newman powder price is 767 with no daily or weekly change, PB powder price is 772 with a daily increase of 1 and a weekly increase of 2, Macfarlane powder price is 763 with a daily increase of 1 and a weekly increase of 3, etc [1] - **Brazilian mainstream iron ore**: Ba Hun price is 810 with a daily increase of 3 and a weekly increase of 1, Ba Coarse IOC6 price is 764 with a daily increase of 1 and a weekly increase of 4 [1] - **Other regions' iron ore**: Ukrainian fine powder price is 876 with a daily decrease of 1 and a weekly increase of 11, 61% Indian powder price is 733 with a daily increase of 1 and a weekly increase of 2 [1] - **Domestic iron ore**: Tangshan iron concentrate price is 977 with no daily change and a weekly increase of 19 [1] Group 4: Summary of Iron Ore Futures Data - **DCE contracts**: i2601 price is 776.0 with a daily increase of 1.0 and a weekly increase of 2.5, i2605 price is 755.5 with a daily increase of 2.5 and a weekly increase of 2.5, i2509 price is 792.0 with a daily increase of 1.0 and a weekly increase of 2.0 [1] - **SGX contracts**: FE01 price is 101.24 with a daily decrease of 1.44 and a weekly decrease of 0.82, FE05 price is 98.80 with a daily decrease of 1.60 and a weekly decrease of 1.24, FE09 price is 102.09 with a daily decrease of 1.42 and a weekly decrease of 0.16 [1]

Report Summary 1. Report Industry Investment Rating - No relevant information provided. 2. Core Viewpoints - No clear core viewpoints are presented in the given content. It mainly provides data on various iron ore varieties, including spot prices, daily and weekly changes, import profits, and futures contract information. 3. Summary by Relevant Catalogs Spot Market - **Australian Iron Ore**: Newman powder price is 767, with a daily change of -14 and a weekly change of -2; PB powder price is 771, with a daily change of -13 and a weekly change of -2; etc. [1] - **Brazilian Iron Ore**: Ba Hun price is 807, with a daily change of -15 and a weekly change of -5; Ba Cu IOC6 price is 763, with a daily change of -11 and a weekly change of 0; etc. [1] - **Other Regions' Iron Ore**: Ukrainian concentrate powder price is 877, with a daily change of -11 and a weekly change of 11; 61% Indian powder price is 732, with a daily change of -15 and a weekly change of -2; etc. [1] - **Domestic Iron Ore**: Tangshan iron concentrate powder price is 977, with a daily change of -6 and a weekly change of 19. [1] Futures Market - **DCE Contracts**: i2601 price is 775.0, with a daily change of -20.0 and a weekly change of 0.5; i2605 price is 753.0, with a daily change of -21.0 and a weekly change of 0.5; i2509 price is 791.0, with a daily change of -14.5 and a weekly change of -2.0. [1] - **New Exchange Contracts**: FE01 price is 102.68, with a daily change of -1.26 and a weekly change of 0.77; FE05 price is 100.40, with a daily change of -1.36 and a weekly change of 0.54; FE09 price is 103.51, with a daily change of -0.92 and a weekly change of 1.71. [1]

数据来源：MYSTEEL 免责 以上内容所依据的信息均来源于交易所、媒体及资讯公司等发布的公开资料或通过合法授权渠道向发布人取得的资讯，我们力求分析及 建议内容的客观、公正，研究方法专业审慎，分析结论合理，但我司对信息来源的准确性和完整性不作任何保证，也不保证所依据的信 息和建议不会发生任何变化。我们提供的全部分析及建议内容仅供参考，不构成对您的任何投资建议及入市依据，您应当自主做出期货 交易决策，独立承担期货交易后果，凡据此入市者，我司不承担任何责任。我司在为您提供服务时已最大程度避免与您产生利益冲突。 未经我司授权，不得随意转载、复制、传播本网站中所有研究分析报告、行情分析视频等全部或部分材料、内容。对可能因互联网软硬 件设备故障或失灵、或因不可抗力造成的全部或部分信息中断、延迟、遗漏、误导或造成资料传输或储存上的错误、或遭第三人侵入系 统篡改或伪造变造资料等，我司均不承担任何责任。 声明 15 20 25 30 35 40 1/1 2/1 3/1 4/1 5/1 6/1 7/1 8/1 9/1 10/1 11/1 12/1 - 2022 2023 2024 2025 / 5 7 9 11 13 15 1 ...

Report Summary 1. Report Industry Investment Rating - Not provided in the given content. 2. Core View - Not provided in the given content. 3. Summary by Relevant Catalogs Spot Market - **Australian Iron Ore**: Newman powder price is 783, up 8 daily and 8 weekly; PB powder is 787, up 9 daily and 7 weekly; Mac powder is 775, up 8 daily and 8 weekly; etc. Import profits vary, e.g., Newman powder has an import profit of -32.80 [1]. - **Brazilian Iron Ore**: Ba - mix price is 821, up 9 daily and 18 weekly; Ba - coarse IOC6 is 777, up 9 daily and 7 weekly; etc. [1]. - **Other Regions' Iron Ore**: Ukraine concentrate powder is 890, up 12 daily and 20 weekly; 61% Indian powder is 750, up 9 daily and 8 weekly; etc. [1]. - **Domestic Iron Ore**: Tangshan iron concentrate powder is 983, up 12 daily and 44 weekly [1]. Futures Market - **DCE Contracts**: i2601 price is 801.0, up 12.0 daily and 23.0 weekly; i2605 is 779.5, up 11.5 daily and 25.0 weekly; i2509 is 807.5, up 11.0 daily and 9.0 weekly. Month - to - month spreads also change, e.g., i2601's month - to - month spread is 6.5, with a daily change of 31.8 and a weekly change of - 7.0 [1]. - **SGX Contracts**: FE01 price is 103.17, up 1.41 daily and 2.15 weekly; FE05 is 101.12, up 1.53 daily and 2.22 weekly; FE09 is 103.50, up 1.40 daily and 2.00 weekly [1].

Report Overview - The report is titled "Guangda Futures Black: Iron Ore Basis and Spread Monitoring Daily Report" dated August 12, 2025, focusing on iron ore futures and related price data [1] 1. Futures Contract Prices and Spreads 1.1 Futures Contract Prices - The closing price of I05 is 768.0 yuan/ton, up 15.0 yuan from the previous day; I09 is 796.5 yuan/ton, up 6.5 yuan; I01 is 789.0 yuan/ton, up 15.5 yuan [3] 1.2 Futures Contract Spreads - The spread of I05 - I09 is -28.5 yuan/ton, up 8.5 yuan; I09 - I01 is 7.5 yuan/ton, down 9.0 yuan; I01 - I05 is 21.0 yuan/ton, up 0.5 yuan [3] 2. Basis Data 2.1 Basis Data Table - For various iron ore varieties, such as Carajás fines (Kafen), its price is 879 yuan/ton today, up 6.0 yuan from the previous day, with a basis of 40 yuan/ton, unchanged from the previous day. Other varieties like BRBF, Newman fines also have corresponding price and basis changes [6] 2.2 Basis Policy Changes - Since December 2, the main iron ore contract is I2205. The number of deliverable varieties has increased by 4, including Bengang concentrate, IOC6, KUMBA, and Ukrainian concentrate, with brand premiums of 0. The brand premiums of existing varieties have been adjusted, and the quality differences and premiums of substitutes have been modified [11] 3. Variety Spreads 3.1 Variety Spread Data - The spread of PB lump - PB fines is 142.0 yuan/ton, down 6.0 yuan; PB fines - FMG mixed fines is 70.0 yuan/ton, down 3.0 yuan. There are also spreads and changes for other variety combinations [13] 4. Research Team Introduction - The black research team includes Qiu Yuecheng, Zhang Xiaojin, Liu Xi, and Zhang Chunjie, each with rich experience and professional titles in the iron ore and related industries [24]