1. Report's Industry Investment Rating - Not available in the provided content 2. Core View of the Report - The report presents the daily price difference data of various commodities on January 22, 2026, including ferrous metals, non - ferrous metals, precious metals, agricultural products, energy chemicals, and financial products. It provides information on spot prices, futures prices, basis, basis rates, and historical quantiles for each commodity [1] 3. Summary by Commodity Categories Ferrous Metals - **Silicon Iron (SF603)**: Spot price is 5628, futures price is 72, basis is 5556, basis rate is 7716.67%, and historical quantile is 64.50% [1] - **Silicon Manganese (SM603)**: Spot price is 5950, futures price is 164, basis is 5786, basis rate is 3528.05%, and historical quantile is 57.10% [1] - **Rebar (RB2605)**: Spot price is 3270, futures price is 3117, basis is 153, basis rate is 4.91%, and historical quantile is 63.40% [1] - **Hot - Rolled Coil (HC2605)**: Spot price is 3286, futures price is 12.30% of an unknown value (incomplete data), basis and other data are incomplete [1] - **Iron Ore (I2605)**: Spot price of 62.5% Brazilian mixed powder at Rizhao Port is 1713, futures price is not clearly presented, basis is 842, basis rate is 7.35%, and historical quantile is 45.90% [1] - **Coke (J2605)**: Spot price of quasi - first - grade metallurgical coke at Rizhao Port is 1684, futures price is not clearly presented, basis is 29, basis rate is 1.73%, and historical quantile is 78.86% [1] - **Coking Coal (JM2605)**: Spot price of S1.3 G75 main coking coal at Shaheyi is 1156, futures price is 1129, basis is 27, basis rate is 2.39%, and historical quantile is 35.00% [1] Non - Ferrous Metals - **Copper (CU2603)**: Spot price is 100060, futures price is 101280, basis is - 1220, basis rate is - 1.20%, and historical quantile is 1.90% [1] - **Aluminum (AL2603)**: Spot price is 23710, futures price is 24155, basis is - 445, basis rate is - 1.84%, and historical quantile is 0.60% [1] - **Alumina (AO2605)**: Spot price is 2672, futures price is 2634, basis is 38, basis rate is 1.44%, and historical quantile is 22.20% [1] - **Zinc (ZN2603)**: Spot price is 24140, futures price is 24350, basis is - 210, basis rate is - 0.86%, and historical quantile is 12.50% [1] - **Tin (SN2602)**: Spot price is 395750, futures price is 418420, basis is - 22670, basis rate is - 5.42%, and historical quantile is 0.20% [1] - **Nickel (NI2603)**: Spot price is 143060, futures price is 140550, basis is 2510, basis rate is 1.79%, and historical quantile is 1.00% [1] - **Stainless Steel (225603)**: Spot price is 14720, futures price is 14670, basis is 50, basis rate is 0.34%, and historical quantile is 6.20% [1] - **Lithium Carbonate (LC2605)**: Spot price is 158500, futures price is 166740, basis is - 8240, basis rate is - 4.94%, and historical quantile is 3.30% [1] - **Industrial Silicon (SI2605)**: Spot price is 9250, futures price is 8780, basis is 470, basis rate is 5.35%, and historical quantile is 28.52% [1] Precious Metals - **Gold (AU2604)**: Spot price is 1085.9, futures price is 1092.3, basis is - 6.4, basis rate is - 0.60%, and historical quantile is 0.70% [1] - **Silver (AG2604)**: Spot price is 23131.0, futures price is 23228.0, basis is - 97.0, basis rate is - 0.42%, and historical quantile is 98.50% [1] Agricultural Products - **Soybean Meal (M2605)**: Spot price is 335.0, futures price is 3060, basis is - 2725.0, basis rate is - 81.34%, and historical quantile is 73.60% [1] - **Soybean Oil (Y2605)**: Spot price is 8500, futures price is 8044.0, basis is 456.0, basis rate is 5.67%, and historical quantile is 79.60% [1] - **Palm Oil (P2605)**: Spot price is 8832.0, futures price is 8780, basis is 52.0, basis rate is 0.59%, and historical quantile is 11.20% [1] - **Rapeseed Meal (RM605)**: Spot price is 2410, futures price is 2228.0, basis is 182.0, basis rate is 8.17%, and historical quantile is 81.70% [1] - **Rapeseed Oil (Oleos)**: Spot price is 9770, futures price is 8947.0, basis is 823.0, basis rate is 9.64%, and historical quantile is 3.15% [1] - **Corn (C2603)**: Spot price is 2355, futures price is 2283.0, basis is 72.0, basis rate is 3.15%, and historical quantile is 71.40% [1] - **Corn Starch (CS2603)**: Spot price is 2630, futures price is 2551.0, basis is 79.0, basis rate is 3.10%, and historical quantile is 35.00% [1] - **Live Pigs (H2603)**: Spot price is 13100, futures price is 11470.0, basis is 1630.0, basis rate is 14.21%, and historical quantile is 87.60% [1] - **Eggs (JD2603)**: Spot price is 3510, futures price is 3035.0, basis is 475.0, basis rate is 15.65%, and historical quantile is 74.10% [1] - **Cotton (CF605)**: Spot price is 15550, futures price is 14535.0, basis is 1015.0, basis rate is 6.98%, and historical quantile is 58.20% [1] - **Sugar (SR605)**: Spot price is 5144.0, futures price is 5350, basis is - 206.0, basis rate is - 3.85%, and historical quantile is 34.40% [1] - **Apples (AP605)**: Spot price is 9400, futures price is 9418.0, basis is - 18.0, basis rate is - 0.19%, and historical quantile is 23.60% [1] - **Red Dates (CJ605)**: Spot price is 8000, futures price is 8740.0, basis is - 740.0, basis rate is - 8.47%, and historical quantile is 57.00% [1] Energy Chemicals - **Para - Xylene (PX603)**: Spot price is 7206.0, futures price is 7129.0, basis is 77.0, basis rate is 1.08%, and historical quantile is 14.20% [1] - **PTA (TA605)**: Spot price is 5075.0, futures price is 5154.0, basis is - 79.0, basis rate is - 1.53%, and historical quantile is 24.10% [1] - **Ethylene Glycol (EG2605)**: Spot price is 3689.0, futures price is 3580.0, basis is 109.0, basis rate is 2.95%, and historical quantile is 15.90% [1] - **Polyester Staple Fiber (PF603)**: Spot price is 6480.0, futures price is 6496.0, basis is - 16.0, basis rate is - 0.25%, and historical quantile is 36.90% [1] - **Styrene (EB2603)**: Spot price is 7308.0, futures price is 7475.0, basis is - 167.0, basis rate is - 2.29%, and historical quantile is 62.30% [1] - **Methanol (MA605)**: Spot price is 2215.0, futures price is 2209.0, basis is 6.0, basis rate is 0.27%, and historical quantile is 47.60% [1] - **Urea (UR605)**: Spot price is 1750.0, futures price is 1779.0, basis is - 29.0, basis rate is - 1.63%, and historical quantile is 9.00% [1] - **LLDPE (L2605)**: Spot price is 6575.0, futures price is 6666.0, basis is - 91.0, basis rate is - 1.37%, and historical quantile is 4.60% [1] - **PP (PP2605)**: Spot price is 6575.0, futures price is 6485.0, basis is 90.0, basis rate is 1.37%, and historical quantile is 51.50% [1] - **PVC (V2605)**: Spot price is 4743.0, futures price is 4500.0, basis is 243.0, basis rate is 5.12%, and historical quantile is 19.30% [1] - **Caustic Soda (SH603)**: Spot price is 1946.9, futures price is 1939.0, basis is 7.9, basis rate is 0.41%, and historical quantile is 45.50% [1] - **LPG (PG2603)**: Spot price is 4848.0, futures price is 4069.0, basis is 779.0, basis rate is 19.14%, and historical quantile is 88.60% [1] - **Asphalt (BU2603)**: Spot price is 3070.0, futures price is 3157.0, basis is - 87.0, basis rate is - 2.76%, and historical quantile is 32.70% [1] - **Butadiene Rubber (BR2603)**: Spot price is 11700.0, futures price is 11915.0, basis is - 215.0, basis rate is - 1.84%, and historical quantile is 11.10% [1] - **Float Glass (FG605)**: Spot price is 1039.0, futures price is 928.0, basis is 111.0, basis rate is 11.96%, and historical quantile is 28.42% [1] - **Soda Ash (SA605)**: Spot price is 1128.0, futures price is 1163.0, basis is - 35.0, basis rate is - 3.10%, and historical quantile is 32.84% [1] - **Natural Rubber (RU2605)**: Spot price is 15745.0, futures price is 15400.0, basis is 345.0, basis rate is 2.20%, and historical quantile is 74.89% [1] Financial Products - **Stock Index Futures (IF2603.CFF)**: Spot price is 4723.1, futures price is 4722.8, basis is - 0.3, basis rate is - 0.01%, and historical quantile is 63.30% [1] - **Stock Index Futures (IH2603.CFE)**: Spot price is 3073.6, futures price is 3067.2, basis is 6.4, basis rate is 0.21%, and historical quantile is 88.50% [1] - **Stock Index Futures (IC2603.CFE)**: Spot price is 8371.0, futures price is 8340.1, basis is 30.9, basis rate is 0.37%, and historical quantile is 99.30% [1] - **Stock Index Futures (IM2603.CFE)**: Spot price is 8231.0, futures price is 8182.8, basis is 48.2, basis rate is 0.59%, and historical quantile is 99.50% [1] - **2 - year Treasury Bond Futures (TS2603)**: Spot price is 102.43, futures price is 100.10, basis is - 0.02, basis rate is - 0.02%, and historical quantile is 22.20% [1] - **5 - year Treasury Bond Futures (TF2603)**: Spot price is 108.21, futures price is 105.88, basis is 0.01, basis rate is 0.01%, and historical quantile is 24.40% [1] - **10 - year Treasury Bond Futures (T2603)**: Spot price is 112.25, futures price is 100.51, basis is 0.19, basis rate is 0.17%, and historical quantile is 26.00% [1] - **30 - year Treasury Bond Futures (TL2603)**: Spot price is 126.62, futures price is 112.25, basis is 0.19, basis rate is 0.17%, and historical quantile is 26.00% [1]

Report Industry Investment Rating - Not provided in the given content Report's Core View - Not provided in the given content Summary by Commodity Categories Ferrous Metals - Silicon iron (SF603) has a spot price of 5698, a futures price of 5570, a basis of 128, and a basis rate of 3.29%. The historical quantile is 73.20% [1] - Silicon manganese (SM603) has a converted price of 6517, with details about Inner Mongolia - Hubei warehouse receipts [1] - Rebar (RB2605) in Shanghai (HRB400 20mm) has a spot price of 3300, a futures price of 3163, a basis of 137, and a basis rate of 4.33%. The historical quantile is 58.80% [1] - Hot - rolled coil (HC2605) has a spot price of 3300, a futures price of 3315, a basis of - 15, and a basis rate of - 0.45%. The historical quantile is 12.50% [1] - Iron ore (I2605) (converted price of 62.5% Brazilian mixed powder) has a spot price of 860, a futures price of 812, a basis of 48, and a basis rate of 5.7%. The historical quantile is 44.80% [1] - Coke (J2605) has a spot price of 1734, a futures price of 1717, a basis of 17, and a basis rate of 1.00%. The historical quantile is 74.60% [1] - Coking coal (JM2605) has a spot price of 1156, a futures price of 1171, a basis of - 15, and a basis rate of - 1.28%. The historical quantile is 28.70% [1] Non - ferrous Metals - Copper (CU2603) has a spot price of 100770, a futures price of 101855, a basis of - 1085, and a basis rate of - 1.08%. The historical quantile is 98.75% [1] - Aluminum (AL2603) has a spot price of 23925, a futures price of 24030, a basis of - 105, and a basis rate of - 0.44%. The historical quantile is 85.83% [1] - Re - melted aluminum (AO2605) has a spot price of 2751, a futures price of 2649, a basis of 102, and a basis rate of 3.85%. The historical quantile is 13.21% [1] - Zinc (ZN2603) has a spot price of 24730, a futures price of 24750, a basis of - 20, and a basis rate of - 0.08%. The historical quantile is 60.41% [1] - Tin (SN2602) has a spot price of 414050, a futures price of 405240, a basis of 8810, and a basis rate of 2.17%. The historical quantile is 99.16% [1] - Nickel (NI2603) has a spot price of 146550, a futures price of 141350, a basis of 5200, and a basis rate of 3.68%. The historical quantile is 99.58% [1] - Stainless steel (SS2603) has a spot price of 14520, a futures price of 14275, a basis of 245, and a basis rate of 1.72%. The historical quantile is 46.13% [1] - Lithium carbonate (LC2605) has a spot price of 158000, a futures price of 146200, a basis of 11800, and a basis rate of 8.07%. The historical quantile is 99.77% [1] - Industrial silicon (SI2605) has a spot price of 9250, a futures price of 8605, a basis of 645, and a basis rate of 7.50%. The historical quantile is 41.35% [1] Precious Metals - Gold (AU2602) has a spot price of 1032.3, a futures price of 1031.1, a basis of 1.2, and a basis rate of 0.12%. The historical quantile is 63.10% [1] - Silver (AG2604) has a spot price of 22641.0, a futures price of 22483.0, a basis of 158.0, and a basis rate of 0.70%. The historical quantile is 99.20% [1] Agricultural Products - Soybean meal (M2605) has a spot price of 3080, a futures price of 2727.0, a basis of 353.0, and a basis rate of 12.94%. The historical quantile is 75.50% [1] - Soybean oil (Y2605) has a spot price of 8440, a futures price of 8016.0, a basis of 424.0, and a basis rate of 5.29%. The historical quantile is 73.90% [1] - Palm oil (P2605) has a spot price of 8630, a futures price of 8674.0, a basis of - 44.0, and a basis rate of - 0.51%. The historical quantile is 83.90% [1] - Rapeseed meal (RM605) has a spot price of 2460, a futures price of 2255.0, a basis of 205.0, and a basis rate of 9.09%. The historical quantile is not provided [1] - Rapeseed oil (OI605) has a spot price of 9950, a futures price of 9063.0, a basis of 887.0, and a basis rate of 9.79%. The historical quantile is 96.70% [1] - Corn (C2603) has a spot price of 2281.0, a futures price of 2228, a basis of 53, and a basis rate of 2.38%. The historical quantile is 72.90% [1] - Corn starch (CS2603) has a spot price of 2620, a futures price of 2555.0, a basis of 65.0, and a basis rate of 2.54%. The historical quantile is 27.10% [1] - Live pigs (H2603) has a spot price of 13150, a futures price of 11980.0, a basis of 1170.0, and a basis rate of 9.77%. The historical quantile is 81.40% [1] - Eggs (JD2603) has a spot price of 3420, a futures price of 3072.0, a basis of 348.0, and a basis rate of 11.33%. The historical quantile is 66.60% [1] - Cotton (CF605) has a spot price of 15750, a futures price of 14590.0, a basis of 1160.0, and a basis rate of 7.95%. The historical quantile is 79.60% [1] - Sugar (SR605) has a spot price of 5390, a futures price of 5258.0, a basis of 132.0, and a basis rate of 2.51%. The historical quantile is 19.70% [1] - Apples (AP605) has a spot price of 9541.0, a futures price of 9400, a basis of - 141.0, and a basis rate of - 1.48%. The historical quantile is 18.50% [1] - Red dates (CJ605) has a spot price of 8875.0, a futures price of 8200, a basis of 675.0, and a basis rate of 8.16%. The historical quantile is 61.20% [1] Energy and Chemicals - Paraxylene (PX603) has a spot price of 7086.0, a futures price of 7061.0, a basis of 25.0, and a basis rate of 0.35%. The historical quantile is 23.90% [1] - PTA (TA605) has a spot price of 5018.0, a futures price of 4950.0, a basis of 68.0, and a basis rate of 1.36%. The historical quantile is 30.10% [1] - Ethylene glycol (EG2605) has a spot price of 3796.0, a futures price of 3660.0, a basis of 136.0, and a basis rate of 3.71%. The historical quantile is 10.60% [1] - Polyester staple fiber (PF603) has a spot price of 6455.0, a futures price of 6400.0, a basis of 55.0, and a basis rate of 0.86%. The historical quantile is 57.00% [1] - Styrene (EB2602) has a spot price of 7320.0, a futures price of 7178.0, a basis of 142.0, and a basis rate of 1.98%. The historical quantile is 56.60% [1] - Methanol (MA605) has a spot price of 2239.0, a futures price of 2225.0, a basis of 14.0, and a basis rate of 0.63%. The historical quantile is 28.80% [1] - Urea (UR605) has a spot price of 1791.0, a futures price of 1770.0, a basis of 21.0, and a basis rate of 1.19%. The historical quantile is 11.00% [1] - LLDPE (L2605) has a spot price of 6775.0, a futures price of 6695.0, a basis of 80.0, and a basis rate of 1.19%. The historical quantile is 47.80% [1] - PP (PP2605) has a spot price of 6590.0, a futures price of 6496.0, a basis of 94.0, and a basis rate of 1.45%. The historical quantile is 52.60% [1] - PVC (V2605) has a spot price of 4803.0, a futures price of 4580.0, a basis of 223.0, and a basis rate of 4.64%. The historical quantile is 22.70% [1] - Caustic soda (SH603) has a spot price of 2056.3, a futures price of 2006.0, a basis of 50.3, and a basis rate of 2.50%. The historical quantile is 52.60% [1] - LPG (PG2603) has a spot price of 5048.0, a futures price of 4137.0, a basis of 911.0, and a basis rate of 22.02%. The historical quantile is 93.60% [1] - Asphalt (BU2603) has a spot price of 3130.0, a futures price of 3090.0, a basis of - 40.0, and a basis rate of - 1.28%. The historical quantile is 43.90% [1] - Butadiene rubber (BR2603) has a spot price of 12100.0, a futures price of 11815.0, a basis of 285.0, and a basis rate of 2.41%. The historical quantile is 63.70% [1] - Float glass (FG605) has a spot price of 936.0, a futures price not provided, a basis not provided, and a basis rate not provided. The historical quantile is 8.21% [1] - Soda ash (SA605) has a spot price of 1192.0, a futures price of 1142.0, a basis of 50.0, and a basis rate of 4.38%. The historical quantile is 22.52% [1] - Natural rubber (RU2605) has a spot price of 15835.0, a futures price of 15700.0, a basis of 135.0, and a basis rate of 0.86%. The historical quantile is 87.05% [1] Financial Futures - IF2603.CFE has a futures price of 4723.2, a spot price of 4731.9, a basis of - 8.7, and a basis rate of - 0.18%. The historical quantile is 41.10% [1] - IH2603.CFE has a futures price of 3079.8, a spot price of 3084.4, a basis of - 4.6, and a basis rate of - 0.15%. The historical quantile is 82.50% [1] - IC2603.CFE has a futures price of 8210.4, a spot price of 8232.7, a basis of - 22.3, and a basis rate of - 0.27%. The historical quantile is 49.70% [1] - IM2603.CFE has a futures price of 8179.2, a spot price of 8232.7, a basis of - 53.5, and a basis rate of - 0.65%. The historical quantile is 31.90% [1] - 2 - year bond futures (TS2603) has a futures price of 100.09, a spot price of 102.40, a basis of 0.00, and a basis rate of 0.00%. The historical quantile is 29.30% [1] - 5 - year bond futures (TF2603) has a futures price of 105.81, a spot price of 100.43, a basis of - 0.02, and a basis rate of - 0.02%. The historical quantile is 26.00% [1] - 10 - year bond futures (T2603) has a futures price of 108.07, a spot price of 100.43, a basis of 0.06, and a basis rate of 0.06%. The historical quantile is 23.80% [1] - 30 - year bond futures (TL2603) has a futures price of 125.42, a spot price of 111.17, a basis of 0.21, and a basis rate of 0.19%. The historical quantile is 28.90% [1]

Report Summary 1. Report Industry Investment Rating - Not mentioned in the provided content 2. Core View of the Report - Not mentioned in the provided content 3. Summary by Related Catalogs Metals and Minerals - **Ferroalloys**: The price of 72-silicon ferroalloy qualified blocks in Inner Mongolia - Tianjin warehouse receipts increased by 2.56% to 5728, and its historical quantile is 54.50%. The price of 6517-silicon manganese in Inner Mongolia - Hubei warehouse receipts is 6517 [1]. - **Steel Products**: The price of HRB400 20mm in Shanghai increased by 4.11% to 3160, and the price of Q235B 4.75mm in Shanghai decreased by 0.151% to 3307. The price of rebar (RB2605) is 3290, and the price of hot - rolled coil (HC2605) is 3290 [1]. - **Iron Ore**: The price of iron ore (I2605) increased by 7.49% to 874, and the historical quantile is 47.70%. The converted price of 62.5% Brazilian mixed powder (BRBF) from Vale at Rizhao Port is 1745, with a historical quantile of 65.45% [1]. - **Coke and Coking Coal**: The price of coke (J2605) and the converted price of quasi - first - grade metallurgical coke at Rizhao Port are provided, and the price of coking coal (JM2605) is 1156, and the converted price of S1.3 G75 main coking coal (Meng 5) at Shaheyi is 1188 [1]. - **Non - ferrous Metals**: The price of copper (CU2603) is 102575, the price of aluminum (AL2603) decreased by 0.76% to 24375, and the price of zinc (ZN2603) is 25090. The price of tin (SN2602) decreased by 7000, and the price of nickel is 146500. The price of stainless steel (SS2603) is 14570, the price of lithium carbonate (LC2605) decreased by 2.59% to 163220, and the price of industrial silicon (SISEOF) increased by 5.96% to 8730 [1]. - **Precious Metals**: The price of gold (AU2602) is 1035.2, and the price of silver (AG2604) is 22684.0 [1]. Agricultural Products - The price of soybean meal (M2605) is 3090, the price of soybean oil (Y2605) is 7938.0, the price of palm oil (P2605) is 8540, the price of rapeseed meal (RM605) is 2460, the price of rapeseed oil (Oleos) is 9670, the price of corn (C2603) is 2355, the price of corn starch (CS2603) is 2565.0, the price of live pigs (H2603) is 11950.0, the price of eggs (JD2603) is 3066.0, the price of cotton (CF605) is 15700, the price of sugar (SR605) is 5390, the price of apples (AP605) is 9807.0, and the price of red dates (CJ605) is - 840.0 [1]. Energy and Chemicals - The price of p - xylene (PX603) is 7130.0, the price of PTA (TA605) is 5048.0, the price of ethylene glycol (EG2605) is 3675.0, the price of polyester staple fiber (PF603) is 6394.0, the price of styrene (EB2602) is 7235.0, the price of methanol (MA605) is 2273.0, the price of urea (UR605) is 1801.0, the price of LLDPE (L2605) is 6785.0, the price of PP (PP2605) is 6592.0, the price of PVC (V2605) is 4868.0, the price of caustic soda (SH603) is 2056.0, the price of LPG (PG2603) is 4233.0, the price of asphalt (BU2603) is 3167.0, the price of butadiene rubber (BR2603) is 12100.0, the price of float glass (FG605) is 936.0, the price of soda ash (SA605) is 1193.0, and the price of natural rubber (RU2605) is 15995.0 [1]. Financial Futures - The price of IF2603.CFE is 4751.4, the price of IH2603.CFE is 3105.6, the price of IC2603.CFE is 8206.8, the price of IM2603.CFE is 8195.4, the price of 2 - year bond (TS2603) is 100.07, the price of 5 - year bond (TF2603) is 105.76, the price of 10 - year bond (T2603) is 108.05, and the price of 30 - year bond (TL2603) is 111.26 [1].

Report Information - The report is a daily spread report for all varieties, dated January 15, 2026, with investment consulting business qualification of CSRC License [2011] 1292. The data sources are Wind, Mysteel, and GF Futures Research Institute [3] Core View - The report presents the spot prices, futures prices, basis, basis rates, and historical quantiles of various commodities and financial instruments across multiple sectors including ferrous metals, non - ferrous metals, precious metals, agricultural products, energy and chemicals, and financials [1] Sector - by - Sector Summary Ferrous Metals - **Silicon Iron (SF603)**: The spot price is 5690, the futures price is 5920, the basis rate is 45.70%, and the historical quantile is 59.50% [1] - **Silicon Manganese (SM603)**: The spot price is 6020, the futures price is 5920, the basis rate is 1.69%, and the historical quantile is 59.00% [1] - **Rebar (RB2605)**: The spot price is 3300, the futures price is 3162, the basis rate is 4.36%, and the historical quantile is 59.00% [1] - **Hot - Rolled Coil (HC2605)**: The spot price is 3306, the futures price is 3270, the basis rate is - 1.09%, and the historical quantile is 6.70% [1] - **Iron Ore (I2605)**: The spot price is 885, the futures price is 821, the basis rate is 7.75%, and the historical quantile is 49.40% [1] - **Coke (J2605)**: The spot price is 1756, the futures price is 1739, the basis rate is 1.00%, and the historical quantile is 74.44% [1] - **Coking Coal (JM2605)**: The spot price is 1197, the futures price is 1156, the basis rate is 3.38%, and the historical quantile is 24.40% [1] Non - Ferrous Metals - **Copper (CU2603)**: The spot price is 104120, the futures price is 103915, the basis rate is - 0.20%, and the historical quantile is 76.45% [1] - **Aluminum (AL2603)**: The spot price is 24670, the futures price is 24595, the basis rate is 0.30%, and the historical quantile is 36.04% [1] - **Alumina (AO2605)**: The spot price is 2800, the futures price is 2655, the basis rate is - 5.19%, and the historical quantile is 11.67% [1] - **Zinc (ZN2603)**: The spot price is 24500, the futures price is 24475, the basis rate is 0.10%, and the historical quantile is 66.04% [1] - **Tin (SN2602)**: The spot price is 413170, the futures price is 405500, the basis rate is - 1.86%, and the historical quantile is 76.25% [1] - **Nickel (NI2603)**: The spot price is 142400, the futures price is 140940, the basis rate is 1.04%, and the historical quantile is 98.95% [1] - **Stainless Steel (SS2603)**: The spot price is 14070, the futures price is 13925, the basis rate is 1.04%, and the historical quantile is 25.53% [1] - **Lithium Carbonate (LC2605)**: The spot price is 163000, the futures price is 161940, the basis rate is 0.65%, and the historical quantile is 74.88% [1] - **Industrial Silicon (SI2605)**: The spot price is 9250, the futures price is 8755, the basis rate is 5.65%, and the historical quantile is 30.65% [1] Precious Metals - **Gold (AU2602)**: The spot price is 1037.6, the futures price is 1040.6, the basis rate is - 0.80%, and the historical quantile is 22.90% [1] - **Silver (AG2604)**: The spot price is 22763.0, the futures price is 22765.0, the basis rate is 0.00%, and the historical quantile is 87.20% [1] Agricultural Products - **Soybean Meal (M2605)**: The spot price is 3090, the futures price is 2751.0, the basis rate is 12.32%, and the historical quantile is 73.70% [1] - **Soybean Oil (Y2605)**: The spot price is 8750, the futures price is 8440, the basis rate is 3.67%, and the historical quantile is 76.20% [1] - **Palm Oil (P2605)**: The spot price is 8748.0, the futures price is 8308.0, the basis rate is 5.29%, and the historical quantile is 26.50% [1] - **Rapeseed Meal (RM605)**: The spot price is 2480, the futures price is 2289.0, the basis rate is 8.34%, and the historical quantile is 82.40% [1] - **Rapeseed Oil (OI2605)**: The spot price is 9790, the futures price is 8949.0, the basis rate is 9.40%, and the historical quantile is 96.40% [1] - **Corn (C2603)**: The spot price is 2272.0, the futures price is 2189.0, the basis rate is 3.65%, and the historical quantile is 76.20% [1] - **Corn Starch (CS2603)**: The spot price is 2620, the futures price is 2543.0, the basis rate is 3.03%, and the historical quantile is 33.70% [1] - **Live Hogs (H2603)**: The spot price is [13000], the futures price is 12010.0, the basis rate is 8.24%, and the historical quantile is 76.20% [1] - **Eggs (JD2603)**: The spot price is 3330, the futures price is 3007.0, the basis rate is 10.74%, and the historical quantile is 64.60% [1] - **Cotton (CF605)**: The spot price is 15500, the futures price is 14810.0, the basis rate is 4.66%, and the historical quantile is 26.00% [1] - **Sugar (SR605)**: The spot price is 5390, the futures price is 5299.0, the basis rate is 1.72%, and the historical quantile is 14.10% [1] - **Apples (AP605)**: The spot price is 9934.0, the futures price is 9400, the basis rate is - 5.88%, and the historical quantile is 6.10% [1] - **Jujubes (CJ605)**: The spot price is 9130.0, the futures price is 8200, the basis rate is - 10.19%, and the historical quantile is 46.90% [1] Energy and Chemicals - **Para - Xylene (PX603)**: The spot price is 7262.0, the futures price is 7210.0, the basis rate is - 0.72%, and the historical quantile is 17.80% [1] - **PTA (TA605)**: The spot price is 5116.0, the futures price is 5060.0, the basis rate is - 1.09%, and the historical quantile is 35.80% [1] - **Ethylene Glycol (EG2605)**: The spot price is 3867.0, the futures price is 3720.0, the basis rate is 3.80%, and the historical quantile is 7.00% [1] - **Polyester Staple Fiber (PF603)**: The spot price is 6510.0, the futures price is 6470.0, the basis rate is 0.62%, and the historical quantile is 52.90% [1] - **Styrene (EB2602)**: The spot price is 7250.0, the futures price is 7116.0, the basis rate is 1.88%, and the historical quantile is 55.30% [1] - **Methanol (MA605)**: The spot price is 2288.0, the futures price is 2257.0, the basis rate is - 1.85%, and the historical quantile is 18.80% [1] - **Urea (UR605)**: The spot price is 1814.0, the futures price is 1740.0, the basis rate is - 4.08%, and the historical quantile is 2.30% [1] - **LLDPE (L2605)**: The spot price is 6850.0, the futures price is 6820.0, the basis rate is 0.44%, and the historical quantile is 31.80% [1] - **PP (PP2605)**: The spot price is 6590.0, the futures price is 6525.0, the basis rate is - 0.99%, and the historical quantile is 10.60% [1] - **PVC (V2605)**: The spot price is 4878.0, the futures price is 4660.0, the basis rate is - 4.47%, and the historical quantile is 23.40% [1] - **Caustic Soda (SH603)**: The spot price is 2100.0, the futures price is 2093.0, the basis rate is 0.33%, and the historical quantile is 45.00% [1] - **LPG (PG2603)**: The spot price is 5048.0, the futures price is 4225.0, the basis rate is 19.48%, and the historical quantile is 91.10% [1] - **Asphalt (BU2603)**: The spot price is 3168.0, the futures price is 3100.0, the basis rate is - 2.15%, and the historical quantile is 37.90% [1] - **Butadiene Rubber (BR2603)**: The spot price is 12250.0, the futures price is 12100.0, the basis rate is - 1.22%, and the historical quantile is 14.70% [1] - **Glass (FG605)**: The spot price is 1096.0, the futures price is 940.0, the basis rate is 16.60%, and the historical quantile is 9.47% [1] - **Soda Ash (SA605)**: The spot price is 1222.0, the futures price is 1162.0, the basis rate is - 5.16%, and the historical quantile is 18.52% [1] - **Natural Rubber (RU2605)**: The spot price is 16160.0, the futures price is 15850.0, the basis rate is - 1.96%, and the historical quantile is 77.34% [1] Financials - **Stock Index Futures**: - **IF2603.CFF**: The spot price is 4741.9, the futures price is 4740.0, the basis rate is - 0.04%, and the historical quantile is 58.50% [1] - **IH2603.CFE**: The spot price is 3112.1, the futures price is 3114.0, the basis rate is 0.06%, and the historical quantile is 67.50% [1] - **IC2603.CFE**: The spot price is 8227.7, the futures price is 8197.8, the basis rate is - 0.36%, and the historical quantile is 40.90% [1] - **IM2603.CFE**: The spot price is 8257.2, the futures price is 8156.0, the basis rate is - 1.24%, and the historical quantile is 16.80% [1] - **Treasury Bond Futures**: - **2 - year Treasury Bond (TS2603)**: The spot price is 102.34, the futures price is 100.04, the basis rate is 0.02%, and the historical quantile is 35.50% [1] - **5 - year Treasury Bond (TF2603)**: The spot price is 105.66, the futures price is 99.44, the basis rate is 0.00%, and the historical quantile is 27.50% [1] - **10 - year Treasury Bond (T2603)**: The spot price is 107.92, the futures price is 100.32, the basis rate is 0.07%, and the historical quantile is 26.40% [1] - **30 - year Treasury Bond (TL2603)**: The spot price is 125.64, the futures price is 111.28, the basis rate is 0.28%, and the historical quantile is 43.20% [1]

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core View of the Report The report presents the spot prices, futures prices, basis, basis rates, historical quantiles, and other data of various commodities on January 6, 2026, covering ferrous metals, non - ferrous metals, precious metals, agricultural products, energy chemicals, and financial products. 3. Summary by Commodity Categories Ferrous Metals - **Silicon Iron (SF603)**: Spot price is 5624, futures price is 5638, basis is 14, basis rate is 0.25%, and historical quantile is 56.90% [1] - **Silicon Manganese (SM603)**: Spot price is 5920, historical quantile is 35.00% [1] - **Rebar (RB2605)**: Spot price of HRB400 20mm in Shanghai is 3104, futures price is 3290, basis is 186, basis rate is 5.99%, and historical quantile is 69.90% [1] - **Hot - Rolled Coil (HC2605)**: Spot price of Q235B 4.75mm in Shanghai is 3248, futures price is 3250, basis is 2, basis rate is 0.06%, and historical quantile is 19.60% [1] - **Iron Ore (I2605)**: Spot price of 62.5% Brazilian mixed powder (BRBF) at Rizhao Port is 1649, futures price is 1702, basis is 53, basis rate is 3.23%, and historical quantile is 56.90% [1] - **Coke (J2605)**: Spot price of quasi - first - grade metallurgical coke at Rizhao Port is 797, futures price is 871, basis is 74, basis rate is 8.55%, and historical quantile is 85.48% [1] - **Coking Coal (JM2605)**: Spot price of S1.3 G75 main coking coal (Meng 5) at Shaheyi is 1081, futures price is 1156, basis is 76, basis rate is 6.99%, and historical quantile is 45.90% [1] Non - Ferrous Metals - **Copper (CU2602)**: Spot price is 100575, futures price is 101350, basis is - 775, basis rate is - 0.76%, and historical quantile is 6.25% [1] - **Aluminum (AL2602)**: Spot price of SMM A00 aluminum average is 23310, futures price is 23645, basis is - 335, basis rate is - 1.42%, and historical quantile is 1.45% [1] - **Alumina (AO2605)**: Spot price of SMM alumina index average is 2697, futures price is 2770, basis is - 73, basis rate is - 2.65%, and historical quantile is 14.31% [1] - **Zinc (ZN2602)**: Spot price of SMM 1 zinc ingot average is 23820, futures price is 23900, basis is 80, basis rate is 0.34%, and historical quantile is 71.04% [1] - **Tin (SN2602)**: Spot price of SMM 1 tin average is 331600, futures price is 334370, basis is - 2770, basis rate is - 0.83%, and historical quantile is 9.79% [1] - **Nickel (NI2602)**: Spot price of SMM 1 imported nickel average is 134100, futures price is 134750, basis is 650, basis rate is 0.48%, and historical quantile is 84.79% [1] - **Stainless Steel (SS2602)**: Spot price of 304/2B 2*1240*C in Wuxi Hongwang (including trimming fee) is 13075, futures price is 13370, basis is - 295, basis rate is - 2.21%, and historical quantile is 54.07% [1] - **Lithium Carbonate (LC2605)**: Spot price of SMM battery - grade lithium carbonate average is 129980, futures price is 119500, basis is 10480, basis rate is 8.06%, and historical quantile is 2.42% [1] - **Industrial Silicon (SI2605)**: Spot price is 9250, futures price is 8730, basis is 520, basis rate is 5.96%, and historical quantile is 31.90% [1] Precious Metals - **Gold (AU2602)**: Spot price of Shanghai Gold Exchange gold spot AU (T + D) is 992.6, futures price is 995.0, basis is 2.4, basis rate is 0.24%, and historical quantile is 35.50% [1] - **Silver (AG2604)**: Spot price of Shanghai Gold Exchange silver spot AG (T + D) is 18319.0, futures price is 18247.0, basis is 72.0, basis rate is 0.39%, and historical quantile is 98.50% [1] Agricultural Products - **Soybean Meal (M2605)**: Spot price of common protein soybean meal at Zhangjiagang, Jiangsu is 3050, futures price is 2754.0, basis is 296.0, basis rate is 10.75%, and historical quantile is 69.90% [1] - **Soybean Oil (Y2605)**: Spot price of fourth - grade soybean oil at Zhangjiagang, Jiangsu is 8290, futures price is 7856.0, basis is 434.0, basis rate is 5.52%, and historical quantile is 74.70% [1] - **Palm Oil (P2605)**: Spot price at Huangpu Port is 8488.0, futures price is 8430, basis is - 58.0, basis rate is - 0.68%, and historical quantile is 11.10% [1] - **Rapeseed Meal (RM605)**: Spot price of common rapeseed meal at Zhanjiang, Guangdong is 2530, futures price is 2361.0, basis is 169.0, basis rate is 7.16%, and historical quantile is 79.60% [1] - **Rapeseed Oil (Oleos)**: Spot price of fourth - grade rapeseed oil at Nantong, Jiangsu is 9780, futures price is 9044.0, basis is 736.0, basis rate is 8.14%, and historical quantile is 94.90% [1] - **Corn (C2603)**: Spot price at Jinzhou Port is 2310, futures price is 2224.0, basis is 86.0, basis rate is 3.87%, and historical quantile is 83.30% [1] - **Corn Starch (CS2603)**: Spot price at Changchun, Jilin is 2620, futures price is 2509.0, basis is 111.0, basis rate is 4.42%, and historical quantile is 54.90% [1] - **Live Pigs (H2603)**: Spot price at Henan is 12850, futures price is 11660.0, basis is 1190.0, basis rate is 10.21%, and historical quantile is 82.50% [1] - **Eggs (JD2603)**: Spot price at Shijiazhuang, Hebei is 2992.0, futures price is 2910, basis is 82.0, basis rate is 2.74%, and historical quantile is 32.50% [1] - **Cotton (CF605)**: Spot price at Xinjiang is 15442, futures price is 14655.0, basis is 787.0, basis rate is 5.37%, and historical quantile is 31.80% [1] - **Sugar (SR605)**: Spot price at Liuzhou Station is 5370, futures price is 5257.0, basis is 113.0, basis rate is 2.15%, and historical quantile is 16.80% [1] - **Apples (AP605)**: Spot price (theoretical delivery price) is 9547.0, futures price is 9200, basis is - 347.0, basis rate is - 3.63%, and historical quantile is 10.30% [1] - **Red Dates (CJ605)**: Spot price of first - grade grey dates at Hebei is 8955.0, futures price is 8200, basis is - 755.0, basis rate is - 8.43%, and historical quantile is 56.50% [1] Energy Chemicals - **Paraxylene (PX603)**: Spot price at Chinese main ports is 7210.0, futures price is 7113.0, basis is - 97.0, basis rate is - 1.35%, and historical quantile is 10.60% [1] - **PTA (TA605)**: Spot price in East China is 5046.0, futures price is 5000.0, basis is - 46.0, basis rate is - 0.91%, and historical quantile is 39.20% [1] - **Ethylene Glycol (EG2605)**: Spot price in East China is 3732.0, futures price is 3605.0, basis is - 127.0, basis rate is - 3.40%, and historical quantile is 12.20% [1] - **Polyester Staple Fiber (PF602)**: Spot price in East China market is 6515.0, futures price is 6462.0, basis is 53.0, basis rate is 0.82%, and historical quantile is 56.30% [1] - **Styrene (EB2602)**: Spot price in East China is 6835.0, futures price is 6739.0, basis is 96.0, basis rate is 1.42%, and historical quantile is 49.00% [1] - **Methanol (MA605)**: Spot price in Jiangsu, Taicang is 2220.0, futures price is 2215.0, basis is 5.0, basis rate is 0.23%, and historical quantile is 46.80% [1] - **Urea (UR605)**: Spot price in Shandong is 1768.0, futures price is 1720.0, basis is 48.0, basis rate is 2.78%, and historical quantile is 4.80% [1] - **LLDPE (L2605)**: Spot price in Shandong is 6449.0, futures price is 6435.0, basis is 14.0, basis rate is 0.22%, and historical quantile is 18.60% [1] - **PP (PP2605)**: Spot price in Zhejiang is 6330.0, futures price is 6300.0, basis is 30.0, basis rate is 0.48%, and historical quantile is 18.50% [1] - **PVC (V2605)**: Spot price in Changzhou is 4764.0, futures price is 4480.0, basis is 284.0, basis rate is 6.36%, and historical quantile is 9.00% [1] - **Caustic Soda (SH603)**: Spot price in Shandong is 2164.0, futures price is 2156.3, basis is 7.7, basis rate is 0.36%, and historical quantile is 42.50% [1] - **LPG (PG2602)**: Spot price in Guangzhou is 4858.0, futures price is 4136.0, basis is 722.0, basis rate is 17.46%, and historical quantile is 85.70% [1] - **Asphalt (BU2602)**: Spot price in Shandong is 3133.0, futures price is 3070.0, basis is 63.0, basis rate is 2.01%, and historical quantile is 39.40% [1] - **Butadiene Rubber (BR2602)**: Spot price in East China is 11645.0, futures price is 11500.0, basis is - 145.0, basis rate is - 1.25%, and historical quantile is 15.10% [1] - **Glass (FG605)**: Spot price in Shahe is 1081.0, futures price is 900.0, basis is 181.0, basis rate is 20.11%, and historical quantile is 4.63% [1] - **Soda Ash (SA605)**: Spot price in Shahe is 1177.0, futures price is 1137.0, basis is 40.0, basis rate is 3.52%, and historical quantile is 28.84% [1] - **Natural Rubber (RU2605)**: Spot price in Shanghai is 15605.0, futures price is 15250.0, basis is 355.0, basis rate is 2.33%, and historical quantile is 0.00% [1] Financial Products - **Stock Index Futures**: - **IF2603.CFE**: Spot price is 4697.0, futures price is 4717.7, basis is 20.7, basis rate is 0.44%, and historical quantile is 23.10% [1] - **IH2603.CFE**: Spot price is 3098.8, futures price is 3099.7, basis is - 0.9, basis rate is - 0.03%, and historical quantile is 50.60% [1] - **IC2603.CFE**: Spot price is 7651.2, futures price is 7596.0, basis is - 55.2, basis rate is - 0.73%, and historical quantile is 16.40% [1] - **IM2603.CFE**: Spot price is 7639.0, futures price is 7753.9, basis is - 114.9, basis rate is - 1.50%, and historical quantile is 14.30% [1] - **Treasury Bond Futures**: - **TS2603**: Spot price is 100.10, futures price is 102.42, basis is - 2.32, basis rate is - 2.32%, and historical quantile is 29.20% [1] - **TF2603**: Spot price is 99.44, futures price is 105.69, basis is - 6.25, basis rate is - 6.29%, and historical quantile is 23.00% [1] - **T2603**: Spot price is 100.25, futures price is 107.84, basis is - 7.59, basis rate is - 7.57%, and historical quantile

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core View The report presents the price data of various commodities including metals, agricultural products, energy and chemical products, and stock index futures on January 5, 2026, including spot prices, futures prices, basis, basis rates, and historical quantiles. 3. Summary by Commodity Category Metals - **Ferrous Metals**: For silicon iron (SF603), the spot price is 5678, the futures price is 5672, and the basis rate is 0.11%. For silicon manganese (SM603), the spot price is 5920. For HRB400 20mm rebar in Shanghai, the spot price is 3300, the futures price is 3122, and the basis rate is 5.70%. For hot - rolled coil (HC2605), the spot price and futures price are both 3270. For iron ore (I2605), the spot price is 871, the futures price is 790, and the basis rate is 10.28%. For coke (J2605), the spot price is 1713, the futures price is 1693, and the basis rate is 1.16%. For coking coal (JM2605), the spot price is 1156, the futures price is 1115, and the basis rate is 3.68% [1]. - **Non - ferrous Metals**: For copper (CU2602), the spot price is 98820, the futures price is 98240, and the basis rate is 0.59%. For aluminum (AL2602), the spot price is 22925, the futures price is 22460, and the basis rate is - 2.01%. For zinc (ZN2602), the spot price is 23250, the futures price is 23275, and the basis rate is - 0.11%. For tin (SN2602), the spot price is 326450, the futures price is 322920, and the basis rate is 0.90%. For nickel (NI2602), the spot price is 134050, the futures price is 132820, and the basis rate is 0.90%. For stainless steel (SS2602), the spot price is 13320, the futures price is 13125, and the basis rate is 1.49%. For lithium carbonate (LC2605), the spot price is 121580, the futures price is 118500, and the basis rate is - 2.5%. For industrial silicon (SIS605), the spot price is 9250, the futures price is 8860, and the basis rate is 4.40% [1]. - **Precious Metals**: For gold (AU2602), the spot price is 977.6, the futures price is 974.4, and the basis rate is - 0.32%. For silver (AG2604), the spot price is 17074.0, the futures price is 17059.0, and the basis rate is - 0.09% [1]. Agricultural Products - For soybean meal (M2605), the spot price is 3050, the futures price is 2749.0, and the basis rate is 10.95%. For soybean oil (Y2605), the spot price is 8300, the futures price is 7862.0, and the basis rate is 5.57%. For palm oil (P2605), the spot price is 8584.0, the futures price is 8560, and the basis rate is - 0.28%. For rapeseed meal (RM605), the spot price is 2530, the futures price is 2365.0, and the basis rate is 7.96%. For rapeseed oil (Oleos), the spot price is 9810, the futures price is 9087.0, and the basis rate is 7.96%. For corn (C2603), the spot price is 2330, the futures price is 2226.0, and the basis rate is 4.17%. For corn starch (CS2603), the spot price is 2620, the futures price is 2515.0, and the basis rate is 4.17%. For live pigs (H2603), the spot price is 13400, the futures price is 11795.0, and the basis rate is 13.61%. For eggs (JD2603), the spot price is 2933.0, the futures price is 2910, and the basis rate is - 0.78%. For cotton (CF605), the spot price is 15392, the futures price is 14585.0, and the basis rate is 5.53%. For sugar (SR605), the spot price is 5410, the futures price is 5251.0, and the basis rate is 3.03%. For apples (AP605), the spot price is 9200, the futures price is 9120.0, and the basis rate is 0.88%. For red dates (CJ605), the spot price is 8965.0, the futures price is 8200, and the basis rate is - 8.53% [1]. Energy and Chemical Products - For p - xylene (PX603), the spot price is 7260.0, the futures price is 7188.2, and the basis rate is - 0.99%. For PTA (TA605), the spot price is 5080.0, the futures price is 5110.0, and the basis rate is - 0.59%. For ethylene glycol (EG2605), the spot price is 3665.0, the futures price is 3803.0, and the basis rate is - 3.63%. For polyester staple fiber (PF602), the spot price is 6535.0, the futures price is 6514.0, and the basis rate is 0.32%. For styrene (EB2602), the spot price is 6870.0, the futures price is 6791.0, and the basis rate is 1.16%. For methanol (MA605), the spot price is 2216.0, the futures price is 2202.0, and the basis rate is - 0.63%. For urea (UR605), the spot price is 1749.0, the futures price is 1710.0, and the basis rate is 6.60%. For LLDPE (L2605), the spot price is 6472.0, the futures price is 6375.0, and the basis rate is - 1.50%. For PP (PP2605), the spot price is 6348.0, the futures price is 6275.0, and the basis rate is - 1.15%. For PVC (V2605), the spot price is 4805.0, the futures price is 4500.0, and the basis rate is - 6.35%. For caustic soda (SH603), the spot price is 2242.0, the futures price is 2196.9, and the basis rate is - 2.0%. For LPG (PG2602), the spot price is 4608.0, the futures price is 4132.0, and the basis rate is 11.52%. For asphalt (BU2602), the spot price is 3022.0, the futures price is 2950.0, and the basis rate is - 2.38%. For butadiene rubber (BR2602), the spot price is 11500.0, the futures price is 11520.0, and the basis rate is - 0.17%. For glass (FG605), the spot price is 1087.0, the futures price is 896.0, and the basis rate is 3.15%. For soda ash (SA605), the spot price is 1209.0, the futures price is 1122.0, and the basis rate is - 7.75%. For natural rubber (RU2605), the spot price is 15605.0, the futures price is 15250.0, and the basis rate is 2.3% [1]. Stock Index Futures - For IF2603.CFE, the spot price is 4629.9, the futures price is 4599.8, and the basis rate is - 0.66%. For IH2603.CFE, the spot price is 3031.1, the futures price is 3025.0, and the basis rate is - 0.20%. For IC2603.CFE, the spot price is 7465.6, the futures price is 7362.8, and the basis rate is - 1.40%. For IM2603.CFE, the spot price is 7595.3, the futures price is 7436.2, and the basis rate is - 2.14%. For 2 - year bond futures (TS2603), the spot price is 102.45, the futures price is 100.12, and the basis rate is - 0.00%. For 5 - year bond futures (TF2603), the spot price is 105.73, the futures price is 100.31, and the basis rate is 0.16%. For 10 - year bond futures (T2603), the spot price is 107.83, the futures price is 100.31, and the basis rate is 0.15%. For 30 - year bond futures (TL2603), the spot price is 126.27, the futures price is 111.38, and the basis rate is 0.83% [1].

Report Overview - The report is a daily spread report for all varieties on December 30, 2025, providing price information on various commodities and financial futures [3] Commodity and Futures Information Ferrous Metals - **Silicon Iron (SF603)**: Spot price 5676, futures price 5628, basis -48, basis rate -0.85%, historical quantile 50.50% [1] - **Silicon Manganese (SM603)**: Spot price 5862, futures price 5860, basis 2, basis rate 0.03%, historical quantile 24.60% [1] - **Rebar (RB2605)**: Spot price 3300, futures price 3280, basis 20, basis rate 0.61%, historical quantile 67.20% [1] - **Hot - Rolled Coil (HC2605)**: Spot price 3287, futures price 3130, basis 157, basis rate 5.02%, historical quantile 15.30% [1] - **Iron Ore (I2605)**: Spot price 858, futures price 797, basis 61, basis rate 7.69%, historical quantile 48.00% [1] - **Coke (J2605)**: Spot price 1713, futures price 1681, basis 32, basis rate 1.91%, historical quantile 79.17% [1] - **Coking Coal (JM2605)**: Spot price 1156, futures price 1088, basis 68, basis rate 6.25%, historical quantile 42.50% [1] Non - Ferrous Metals - **Copper (CU2602)**: Spot price 100740, futures price 99790, basis 950, basis rate 0.95%, historical quantile 99.79% [1] - **Aluminum (AL2602)**: Spot price 22570, futures price 22490, basis 80, basis rate 0.36%, historical quantile 32.91% [1] - **Zinc (ZN2602)**: Spot price 23370, futures price 23255, basis 115, basis rate 0.49%, historical quantile 74.37% [1] - **Tin (SN2602)**: Spot price 343500, futures price 334590, basis 8910, basis rate 2.66%, historical quantile 99.37% [1] - **Nickel (NI2602)**: Spot price 128600, futures price 125710, basis 2890, basis rate 2.30%, historical quantile 99.58% [1] - **Stainless Steel (SS2602)**: Spot price 13220, futures price 12910, basis 310, basis rate 2.40%, historical quantile 56.65% [1] - **Lithium Carbonate (LC2605)**: Spot price 118820, futures price 118000, basis 820, basis rate 0.69%, historical quantile 43.83% [1] - **Industrial Silicon (SI2605)**: Spot price 9250, futures price 8715, basis 535, basis rate 6.14%, historical quantile 32.79% [1] Precious Metals - **Gold (AU2602)**: Spot price 1007.2, futures price 1004.9, basis 2.3, basis rate 0.23%, historical quantile 38.00% [1] - **Silver (AG2602)**: Spot price 18797.0, futures price 18205.0, basis 592.0, basis rate 3.25%, historical quantile 99.50% [1] Agricultural Products - **Soybean Meal (M2605)**: Spot price 3060, futures price 2774.0, basis 286.0, basis rate 10.31%, historical quantile 68.50% [1] - **Soybean Oil (Y2605)**: Spot price 8250, futures price 7818.0, basis 432.0, basis rate 5.53%, historical quantile 74.30% [1] - **Palm Oil (P2605)**: Spot price 8512.0, futures price 8510, basis 2.0, basis rate 0.02%, historical quantile 25.90% [1] - **Rapeseed Meal (RM605)**: Spot price 2570, futures price 2387.0, basis 183.0, basis rate 7.67%, historical quantile 81.50% [1] - **Rapeseed Oil (OI605)**: Spot price 9750, futures price 9040.0, basis 710.0, basis rate 7.85%, historical quantile 94.00% [1] - **Corn (C2603)**: Spot price 2330, futures price 2249.0, basis 81.0, basis rate 3.60%, historical quantile 82.20% [1] - **Corn Starch (CS2603)**: Spot price 2620, futures price 2535.0, basis 85.0, basis rate 3.35%, historical quantile 39.60% [1] - **Live Pigs (H2603)**: Spot price 12450, futures price 11715.0, basis 735.0, basis rate 6.27%, historical quantile 69.50% [1] - **Eggs (JD2602)**: Spot price 2941.0, futures price 2910, basis - 31.0, basis rate - 1.05%, historical quantile 36.60% [1] - **Cotton (CF605)**: Spot price 15385, futures price 14435.0, basis 950.0, basis rate 6.58%, historical quantile 48.70% [1] - **Sugar (SR605)**: Spot price 5420, futures price 5253.0, basis 167.0, basis rate 3.18%, historical quantile 28.50% [1] - **Apples (AP605)**: Spot price 9200, futures price 9163.0, basis 37.0, basis rate 0.40%, historical quantile 24.70% [1] - **Red Dates (CJ605)**: Spot price 8970.0, futures price 8300, basis - 670.0, basis rate - 7.47%, historical quantile 61.60% [1] Energy and Chemicals - **Para - Xylene (PX603)**: Spot price 7270.0, futures price 7199.0, basis 71.0, basis rate 0.98%, historical quantile 14.20% [1] - **PTA (TA605)**: Spot price 5122.0, futures price 5060.0, basis 62.0, basis rate 1.21%, historical quantile 32.80% [1] - **Ethylene Glycol (EG2605)**: Spot price 3817.0, futures price 3690.0, basis 127.0, basis rate 3.33%, historical quantile 12.20% [1] - **Polyester Staple Fiber (PF602)**: Spot price 6540.0, futures price 6530.0, basis 10.0, basis rate 0.15%, historical quantile 39.60% [1] - **Styrene (EB2602)**: Spot price 6815.0, futures price 6737.0, basis 78.0, basis rate 1.16%, historical quantile 46.20% [1] - **Methanol (MA605)**: Spot price 2161.0, futures price 2150.0, basis 11.0, basis rate 0.51%, historical quantile 31.00% [1] - **Urea (UR605)**: Spot price 1735.0, futures price 1710.0, basis 25.0, basis rate 1.44%, historical quantile 9.40% [1] - **LLDPE (L2605)**: Spot price 6453.0, futures price 6340.0, basis 113.0, basis rate 1.75%, historical quantile 2.60% [1] - **PP (PP2605)**: Spot price 6274.0, futures price 6240.0, basis 34.0, basis rate 0.54%, historical quantile 17.50% [1] - **PVC (V2605)**: Spot price 4777.0, futures price 4520.0, basis 257.0, basis rate 5.38%, historical quantile 14.90% [1] - **Caustic Soda (SH603)**: Spot price 2232.0, futures price 2212.5, basis 19.5, basis rate 0.81%, historical quantile 40.40% [1] - **LPG (PG2602)**: Spot price 4528.0, futures price 4046.0, basis 482.0, basis rate 11.91%, historical quantile 67.30% [1] - **Asphalt (BU2602)**: Spot price 3008.0, futures price 2920.0, basis 88.0, basis rate 2.93%, historical quantile 32.40% [1] - **Butadiene Rubber (BR2602)**: Spot price 11600.0, futures price 11300.0, basis 300.0, basis rate 2.99%, historical quantile 7.30% [1] - **Float Glass (FG605)**: Spot price 1051.0, futures price 896.0, basis 155.0, basis rate 17.30%, historical quantile 8.19% [1] - **Soda Ash (SA605)**: Spot price 1181.0, futures price 1122.0, basis 59.0, basis rate 5.26%, historical quantile 18.69% [1] - **Natural Rubber (RU2605)**: Spot price 15665.0, futures price 15250.0, basis 415.0, basis rate 2.72%, historical quantile 69.38% [1] Financial Futures - **Stock Index Futures** - **IF2603.CFF**: Spot price 4639.4, futures price 4610.2, basis - 29.2, basis rate - 0.63%, historical quantile 14.10% [1] - **IH2603.CFE**: Spot price 3038.0, futures price 3034.6, basis 3.4, basis rate 0.11%, historical quantile 76.10% [1] - **IC2603.CFE**: Spot price 7430.6, futures price 7336.6, basis - 94.0, basis rate - 1.28%, historical quantile 4.20% [1] - **IM2603.CFE**: Spot price 7594.2, futures price 7439.0, basis - 155.2, basis rate - 2.09%, historical quantile 7.80% [1] - **Treasury Bond Futures** - **2 - year Treasury Bond (TS2603)**: Spot price 102.48, futures price 100.15, basis - 0.01, basis rate - 0.01%, historical quantile 23.90%, conversion factor 0.9774 [1] - **5 - year Treasury Bond (TF2603)**: Spot price 105.83, futures price 99.56, basis - 0.04, basis rate - 0.04%, historical quantile 22.10%, conversion factor 0.9412 [1] - **10 - year Treasury Bond (T2603)**: Spot price 107.97, futures price 100.37, basis 0.09, basis rate 0.09%, historical quantile 28.10%, conversion factor 0.9288 [1] - **30 - year Treasury Bond (TL2603)**: Spot price 126.22, futures price 111.64, basis 0.48, basis rate 0.43%, historical quantile 71.10%, conversion factor 1.1263 [1]

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints No information provided. 3. Summary by Categories Metals - **Ferrous Metals**: For silicon iron (SF603), the spot price is 5518, the futures price is 5578, and the basis is -60 with a basis rate of -1.08%. For silicon manganese (SM603), the spot price is 5810, the futures price is 5758, and the basis is 52 with a basis rate of 0.90%. For rebar (RB2605), the spot price is 3270, the futures price is 3240, and the basis is 30 with a basis rate of 0.93%. For hot - rolled coil (HC2605), the spot price is 3233, the futures price is 3240, and the basis is -7 with a basis rate of -0.22%. For iron ore (I2605), the spot price is 831, the futures price is 753, and the basis is 78 with a basis rate of 10.34%. For coke (J2601), the spot price is 1592, the futures price is 1504, and the basis is 88 with a basis rate of 9.87%. For coking coal (JM2605), the spot price is 1139, the futures price is 1061, and the basis is 78 with a basis rate of 7.35% [1]. - **Non - ferrous Metals**: For copper (CU2602), the spot price is 92400, the futures price is 92265, and the basis is 135 with a basis rate of 0.15%. For aluminum (AL2602), the spot price is 21710, the futures price is 21920, and the basis is -210 with a basis rate of -0.96%. For zinc (ZN2601), the spot price is 23430, the futures price is 23400, and the basis is 30 with a basis rate of 0.13%. For tin (SN2601), the spot price is 327390, the futures price is 324100, and the basis is 3290 with a basis rate of 1.00%. For nickel (NI2601), the spot price is 115050, the futures price is 114690, and the basis is 360 with a basis rate of 0.31%. For stainless steel (SS2602), the spot price is 12970, the futures price is 12480, and the basis is 490 with a basis rate of 3.93%. For lithium carbonate (LC2605), the spot price is 101060, the futures price is 95150, and the basis is 5910 with a basis rate of 6.21%. For industrial silicon (SI2605), the spot price is 9200, the futures price is 8350, and the basis is 850 with a basis rate of 10.18% [1]. Precious Metals - For gold (AU2602), the spot price is 983.2, the futures price is 977.1, and the basis is 6.1 with a basis rate of 0.62%. For silver (AG2602), the spot price is 14795.0, the futures price is 14793.0, and the basis is 2.0 with a basis rate of 0.01% [1]. Agricultural Products - For soybean meal (M2605), the spot price is 3060, the futures price is 2758.0, and the basis is 302.0 with a basis rate of 10.95%. For soybean oil (Y2605), the spot price is 8340, the futures price is 7940.0, and the basis is 400.0 with a basis rate of 5.04%. For palm oil (P2605), the spot price is 8560, the futures price is 8492.0, and the basis is 68.0 with a basis rate of 0.80%. For rapeseed meal (RM605), the spot price is 2520, the futures price is 2341.0, and the basis is 179.0 with a basis rate of 7.65%. For rapeseed oil (Oleos), the spot price is 9750, the futures price is 9196.0, and the basis is 554.0 with a basis rate of 6.02%. For corn (C2601), the spot price is 2320, the futures price is 2228.0, and the basis is 92.0 with a basis rate of 4.13%. For corn starch (CS2601), the spot price is 2650, the futures price is 2513.0, and the basis is 137.0 with a basis rate of 9.45%. For live pigs (H2603), the spot price is 11450, the futures price is 11305.0, and the basis is 145.0 with a basis rate of 1.28%. For eggs (JD2601), the spot price is 3122.0, the futures price is 3020, and the basis is 102.0 with a basis rate of 3.27%. For cotton (CF605), the spot price is 14884, the futures price is 14000.0, and the basis is 884.0 with a basis rate of 6.31%. For white sugar (SR605), the spot price is 5450, the futures price is 5207.0, and the basis is 243.0 with a basis rate of 4.67%. For apples (AP605), the spot price is 9232.0, the futures price is 9000, and the basis is 232.0 with a basis rate of 2.51%. For red dates (CJ605), the spot price is 8600, the futures price is 9025.0, and the basis is -425.0 with a basis rate of -4.71% [1]. Energy and Chemicals - For paraxylene (PX603), the spot price is 6784.0, the futures price is 6769.0, and the basis is 15.0 with a basis rate of 0.22%. For PTA (TA605), the spot price is 4628.0, the futures price is 4615.0, and the basis is 13.0 with a basis rate of 0.28%. For ethylene glycol (EG2601), the spot price is 3651.0, the futures price is 3630.0, and the basis is 21.0 with a basis rate of 0.58%. For polyester staple fiber (PF602), the spot price is 6265.0, the futures price is 6098.0, and the basis is 167.0 with a basis rate of 2.74%. For styrene (EB2601), the spot price is 6635.0, the futures price is 6487.0, and the basis is 148.0 with a basis rate of 2.28%. For methanol (MA605), the spot price is 2105.0, the futures price is 2074.0, and the basis is 31.0 with a basis rate of 1.49%. For urea (UR601), the spot price is 1700.0, the futures price is 1629.0, and the basis is 71.0 with a basis rate of 4.36%. For LLDPE (L2605), the spot price is 6600.0, the futures price is 6557.0, and the basis is 43.0 with a basis rate of 0.66%. For PP (PP2605), the spot price is 6305.0, the futures price is 6254.0, and the basis is 51.0 with a basis rate of 0.82%. For PVC (V2601), the spot price is 4330.0, the futures price is 4315.0, and the basis is 15.0 with a basis rate of 0.35%. For caustic soda (SH603), the spot price is 2218.8, the futures price is 2163.0, and the basis is 55.8 with a basis rate of 2.58%. For LPG (PG2601), the spot price is 4498.0, the futures price is 4181.0, and the basis is 317.0 with a basis rate of 7.58%. For asphalt (BU2602), the spot price is 2963.0, the futures price is 2920.0, and the basis is 43.0 with a basis rate of 1.45%. For butadiene rubber (BR2602), the spot price is 10845.0, the futures price is 10600.0, and the basis is 245.0 with a basis rate of 2.26%. For float glass (FG605), the spot price is 950.0, the futures price is 936.0, and the basis is 14.0 with a basis rate of 1.50%. For soda ash (SA605), the spot price is 1133.0, the futures price is 1123.0, and the basis is 10.0 with a basis rate of 0.88%. For natural rubber (RU2605), the spot price is 15200.0, the futures price is 14950.0, and the basis is 250.0 with a basis rate of 1.67% [1]. Financial Futures - For IF2512.CFE, the spot price is 4552.1, the futures price is 4545.6, and the basis is 6.5 with a basis rate of 0.14%. For IH2512.CFE, the spot price is 2987.1, the futures price is 2983.8, and the basis is 3.3 with a basis rate of 0.11%. For IC2512.CFE, the spot price is 7115.8, the futures price is 7114.0, and the basis is -1.8 with a basis rate of -0.03%. For IM2512.CFE, the spot price is 7309.1, the futures price is 7308.0, and the basis is 1.1 with a basis rate of 0.01%. For 2 - year bond (TS2603), the spot price is 102.44, the futures price is 100.08, and the basis is -0.05 with a basis rate of -0.05%. For 5 - year bond (TF2603), the spot price is 105.76, the futures price is 99.50, and the basis is -0.04 with a basis rate of -0.04%. For 10 - year bond (T2603), the spot price is 107.86, the futures price is 100.24, and the basis is 0.06 with a basis rate of 0.06%. For 30 - year bond (TL2603), the spot price is 126.03, the futures price is 111.60, and the basis is 0.34 with a basis rate of 0.30% [1].

Report Summary 1. Report Industry Investment Rating - No relevant content provided. 2. Core View of the Report - No relevant content provided. 3. Summary by Category Metal Commodities - **Ferrous Metals**: For silicon iron (SF603), the spot price is 5478, the futures price is 5418, the basis is 60, and the basis rate is 1.11%, with a historical quantile of 62.00%. For silicon manganese (SM603), the spot price is 5790, the futures price is 5712, the basis is 78, and the basis rate is 1.37%, with a historical quantile of 40.60%. For rebar (RB2605), the spot price is 3069, the futures price is 3270, the basis is -201, and the basis rate is -6.55%, with a historical quantile of 71.70%. For hot-rolled coil (HC2605), the spot price is 3250, the futures price is 3238, the basis is 12, and the basis rate is 0.37%, with a historical quantile of 22.90%. For iron ore (I2605), the spot price is 834, the futures price is 757, the basis is 77, and the basis rate is 10.19%, with a historical quantile of 59.70%. For coke (J2601), the spot price is 1595, the futures price is 1492, the basis is 103, and the basis rate is 6.72%, with a historical quantile of 94.79%. For coking coal (JM2605), the spot price is 1155, the futures price is 1035, the basis is 120, and the basis rate is 11.59%, with a historical quantile of 57.20% [1]. - **Non - Ferrous Metals**: For copper (CU2601), the spot price is 92665, the futures price is 92210, the basis is 455, and the basis rate is 0.49%, with a historical quantile of 89.58%. For aluminum (AL2602), the spot price is 21970, the futures price is 21890, the basis is 80, and the basis rate is 0.36%, with a historical quantile of 30.83%. For alumina (AO2601), the spot price is 2804, the futures price is 2469, the basis is 335, and the basis rate is 13.58%, with a historical quantile of 87.66%. For zinc (ZN2601), the spot price is 23040, the futures price is 22995, the basis is 45, and the basis rate is 0.20%, with a historical quantile of 67.29%. For tin (SN2601), the spot price is 320600, the futures price is 320000, the basis is 600, and the basis rate is 0.19%, with a historical quantile of 31.66%. For nickel (NISE0J), the spot price is 116700, the futures price is 115870, the basis is 830, and the basis rate is 0.72%, with a historical quantile of 88.54%. For stainless steel (225602), the spot price is 12970, the futures price is 12500, the basis is 470, and the basis rate is 3.76%, with a historical quantile of 84.97%. For lithium carbonate (LC2605), the spot price is 98880, the futures price is 93500, the basis is -2380, and the basis rate is -2.41%, with a historical quantile of 4.84%. For industrial silicon (SI2601), the spot price is 9200, the futures price is 8585, the basis is 615, and the basis rate is 7.04%, with a historical quantile of 60.60% [1]. Precious Metals - For gold (AU2602), the spot price is 957.9, the futures price is 952.4, the basis is 5.5, and the basis rate is 0.58%, with a historical quantile of 1.30%. For silver (AG2602), the spot price is 14488.0, the futures price is 14447.0, the basis is 41.0, and the basis rate is 0.28%, with a historical quantile of 16.70% [1]. Agricultural Commodities - For soybean meal (M2605), the spot price is 3050, the futures price is 2750, the basis is 300, and the basis rate is 10.91%, with a historical quantile of 68.80%. For soybean oil (Y2605), the spot price is 8430, the futures price is 8036, the basis is 394, and the basis rate is 4.90%, with a historical quantile of 69.20%. For palm oil (P2605), the spot price is 8642, the futures price is 8630, the basis is 12, and the basis rate is 0.14%, with a historical quantile of 23.00%. For rapeseed meal (RM605), the spot price is 2490, the futures price is 2323, the basis is 167, and the basis rate is 7.19%, with a historical quantile of 79.80%. For rapeseed oil (OI605), the spot price is 9890, the futures price is 9306, the basis is 584, and the basis rate is 6.28%, with a historical quantile of 81.00%. For corn (C2601), the spot price is 2300, the futures price is 2243, the basis is 57, and the basis rate is 2.54%, with a historical quantile of 71.50%. For corn starch (CS2601), the spot price is 2650, the futures price is 2523, the basis is 127, and the basis rate is 5.03%, with a historical quantile of 65.30%. For live pigs (H2603), the spot price is 11300, the futures price is 11220, the basis is 80, and the basis rate is 0.71%, with a historical quantile of 47.80%. For eggs (JD2601), the spot price is 3144, the futures price is 3020, the basis is -124, and the basis rate is -3.94%, with a historical quantile of 28.20%. For cotton (CF601), the spot price is 14835, the futures price is 13860, the basis is 975, and the basis rate is 7.03%, with a historical quantile of 52.30%. For sugar (SR605), the spot price is 5480, the futures price is 5245, the basis is 235, and the basis rate is 4.48%, with a historical quantile of 39.10%. For apples (AP605), the spot price is 9505, the futures price is 9000, the basis is 505, and the basis rate is 5.61%, with a historical quantile of 45.31%. For red dates (CJ605), the spot price is 9170, the futures price is 8600, the basis is 570, and the basis rate is 6.63%, with a historical quantile of 67.50% [1]. Energy and Chemical Commodities - For paraxylene (PX603), the spot price is 6816, the futures price is 6801, the basis is 15, and the basis rate is 0.22%, with a historical quantile of 23.60%. For PTA (TA601), the spot price is 4664, the futures price is 4650, the basis is 14, and the basis rate is 0.30%, with a historical quantile of 50.90%. For ethylene glycol (EG2601), the spot price is 3599, the futures price is 3580, the basis is 19, and the basis rate is 0.53%, with a historical quantile of 51.70%. For polyester staple fiber (PF602), the spot price is 6260, the futures price is 6122, the basis is 138, and the basis rate is 2.25%, with a historical quantile of 75.40%. For styrene (EB2601), the spot price is 6660, the futures price is 6505, the basis is 155, and the basis rate is 2.38%, with a historical quantile of 59.00%. For methanol (MA601), the spot price is 2105, the futures price is 2074, the basis is 31, and the basis rate is 1.49%, with a historical quantile of 58.20%. For urea (UR601), the spot price is 1710, the futures price is 1638, the basis is 72, and the basis rate is 4.40%, with a historical quantile of 39.10%. For LLDPE (L2605), the spot price is 6625, the futures price is 6534, the basis is 91, and the basis rate is 1.39%, with a historical quantile of 51.70%. For PP (PP2601), the spot price is 6325, the futures price is 6177, the basis is 148, and the basis rate is 2.40%, with a historical quantile of 66.60%. For PVC (V2601), the spot price is 4300, the futures price is 4276, the basis is 24, and the basis rate is 0.56%, with a historical quantile of 84.00%. For caustic soda (SH603), the spot price is 2219, the futures price is 2113, the basis is 106, and the basis rate is 5.00%, with a historical quantile of 63.80%. For LPG (PG2601), the spot price is 4448, the futures price is 4220, the basis is 228, and the basis rate is 5.40%, with a historical quantile of 45.50%. For asphalt (BU2602), the spot price is 2960, the futures price is 2930, the basis is 30, and the basis rate is 1.01%, with a historical quantile of 45.40%. For butadiene rubber (BR2602), the spot price is 10710, the futures price is 10600, the basis is 110, and the basis rate is 1.03%, with a historical quantile of 15.80%. For float glass (FG601), the spot price is 960, the futures price is 956, the basis is 4, and the basis rate is 0.42%, with a historical quantile of 77.31%. For soda ash (SA601), the spot price is 1113, the futures price is 1103, the basis is 10, and the basis rate is 0.90%, with a historical quantile of 53.15%. For natural rubber (RU2605), the spot price is 15185, the futures price is 14900, the basis is -285, and the basis rate is -1.91%, with a historical quantile of 80.20% [1]. Financial Futures - For IF2512.CFE, the spot price is 4552.2, the futures price is 4539.6, the basis is -12.6, and the basis rate is -0.28%, with a historical quantile of 33.70%. For IH2512.CFE, the spot price is 2977.0, the futures price is 2969.8, the basis is -7.2, and the basis rate is -0.24%, with a historical quantile of 28.20%. For IC2512.CFE, the spot price is 7082.9, the futures price is 7074.4, the basis is -8.5, and the basis rate is -0.12%, with a historical quantile of 71.40%. For IM2512.CFE, the spot price is 7312.0, the futures price is 7304.6, the basis is -7.4, and the basis rate is -0.10%, with a historical quantile of 75.60%. For 2 - year bond (T22603), the spot price is 102.48, the futures price is 100.08, the basis is -0.08, and the basis rate is -0.08%, with a historical quantile of 8.50%. For 5 - year bond (TF2603), the spot price is 105.90, the futures price is 99.60, the basis is -0.07, and the basis rate is -0.07%, with a historical quantile of 17.60%. For 10 - year bond (T2603), the spot price is 108.13, the futures price is 100.45, the basis is 0.02, and the basis rate is 0.02%, with a historical quantile of 18.10%. For 30 - year bond (TL2603), the spot price is 128.04, the futures price is 113.27, the basis is 0.47, and the basis rate is 0.41%, with a historical quantile of 70.40% [1].

Report Title - The report is titled "Full Variety Spread Daily Report" [4] Report Date - The report is dated December 10, 2025 [3] Data Sources - The data sources include Wind, Mysteel, and GF Futures Research Institute [5] Industry Data Summary Ferrous Metals - **Silicon Iron (SF603)**: The spot price is 5462, the futures price is 5478, the basis is 16, and the basis rate is 0.84%. The historical quantile is 57.40% [1] - **Silicon Manganese (SM603)**: The spot price is 5732, and the futures price is 5780 [1] - **Rebar (RB2605)**: The spot price is 3079, the futures price is 3260, the basis is 69.40%, and the historical quantile is 69.40% [1] - **Hot Rolled Coil (HC2605)**: The spot price is 3250, and the basis rate is -0.06% [1] - **Iron Ore (I2605)**: The spot price is 1603, the futures price is 89, the basis is 5.85%, and the historical quantile is 57.80% [1] - **Coke (J2601)**: The spot price is 1514, and the historical quantile is 92.42% [1] - **Coking Coal (JM2605)**: The spot price is 1083, and the historical quantile is 45.90% [1] Non - Ferrous Metals - **Copper (CU2601)**: The spot price is 91090, the futures price is 92215, the basis is -1125, the basis rate is -1.24%, and the historical quantile is 99.37% [1] - **Aluminum (AL2601)**: The spot price is 21775, the futures price is 21880, the basis is -105, the basis rate is -0.48%, and the historical quantile is 84.16% [1] - **Alumina (AO2601)**: The spot price is 2546, and the futures price is 2808 [1] - **Zinc (ZN2601)**: The spot price is 23070, the futures price is 23120, the basis is 50, the basis rate is 0.22%, and the historical quantile is 67.08% [1] - **Tin (SN2601)**: The spot price is 316000, the futures price is 312320, the basis is 3680, the basis rate is 1.18%, and the historical quantile is 96.04% [1] - **Nickel (NISE01)**: The spot price is 117350, the futures price is 118275, the basis is -400, the basis rate is -0.34%, and the historical quantile is 91.04% [1] - **Stainless Steel (SS2601)**: The spot price is 12500, the futures price is 12970, the basis is -470, the basis rate is -3.76%, and the historical quantile is 85.40% [1] - **Industrial Silicon (SI2601)**: The spot price is 8340, the futures price is 9200, the basis is -860, the basis rate is -9.35%, and the historical quantile is 57.75% [1] Precious Metals - **Gold (AU2602)**: The spot price is 951.5, the futures price is 946.7, the basis is 4.8, the basis rate is 0.51%, and the historical quantile is 946.7 [1] - **Silver (AG2602)**: The spot price is 13596.0, the futures price is 13607.0, the basis is -11.0, the basis rate is -0.08%, and the historical quantile is 70.10% [1] Agricultural Products - **Soybean Meal (M2605)**: The spot price is 3000, the futures price is 2763.0, the basis is 237.0, the basis rate is 8.58%, and the historical quantile is 65.50% [1] - **Soybean Oil (y2605)**: The spot price is 8370, the futures price is 7984.0, the basis is 386.0, the basis rate is 4.83%, and the historical quantile is 68.60% [1] - **Palm Oil (P2601)**: The spot price is 8560, the futures price is 8648.0, the basis is -88.0, the basis rate is -1.02%, and the historical quantile is 77.70% [1] - **Rapeseed Meal (RM605)**: The spot price is 2470, the futures price is 2317.0, the basis is 153.0, the basis rate is 6.60%, and the historical quantile is 75.40% [1] - **Rapeseed Oil (Ol601)**: The spot price is 9630, the futures price is 9393.0, the basis is 237.0, the basis rate is 2.52%, and the historical quantile is 75.40% [1] - **Corn (C2601)**: The spot price is 2310, the futures price is 2236.0, the basis is 74.0, the basis rate is 3.31%, and the historical quantile is 78.20% [1] - **Corn Starch (CS2601)**: The spot price is 2650, the futures price is 2522.0, the basis is 128.0, the basis rate is 5.08%, and the historical quantile is 65.60% [1] - **Live Hogs (H2603)**: The spot price is 11450.0, the futures price is 11250, the basis is 200.0, the basis rate is 1.75%, and the historical quantile is 38.40% [1] - **Eggs (JD2601)**: The spot price is 3124.0, the futures price is 2960, the basis is -164.0, the basis rate is -5.125%, and the historical quantile is 25.10% [1] - **Cotton (CF601)**: The spot price is 14843, the futures price is 13740.0, the basis is 1103.0, the basis rate is 8.03%, and the historical quantile is 74.40% [1] - **Sugar (SR601)**: The spot price is 5343.0, the futures price is 5181.0, the basis is 162.0, the basis rate is 3.03%, and the historical quantile is 28.70% [1] - **Apples (AP605)**: The spot price is 9465.0, the futures price is 9000, the basis is 465.0, the basis rate is 5.17%, and the historical quantile is 7.80% [1] - **Jujubes (CJ605)**: The spot price is 9325.0, the futures price is 8600, the basis is -725.0, the basis rate is -7.77%, and the historical quantile is 64.50% [1] Energy and Chemicals - **Para - Xylene (PX603)**: The spot price is 6779.0, the futures price is 6780.0, the basis is -1.0, the basis rate is -0.01%, and the historical quantile is 27.30% [1] - **PTA (TA601)**: The spot price is 4625.0, the futures price is 4644.0, the basis is -19.0, the basis rate is -0.41%, and the historical quantile is 49.10% [1] - **Ethylene Glycol (EG2601)**: The spot price is 3680.0, the futures price is 3691.0, the basis is -11.0, the basis rate is -0.30%, and the historical quantile is 55.10% [1] - **Polyester Staple Fiber (PF602)**: The spot price is 6290.0, the futures price is 6182.0, the basis is 108.0, the basis rate is 1.75%, and the historical quantile is 69.10% [1] - **Styrene (EB2601)**: The spot price is 6740.0, the futures price is 6576.0, the basis is 164.0, the basis rate is 2.49%, and the historical quantile is 61.10% [1] - **Methanol (MA601)**: The spot price is 2066.0, the futures price is 2075.0, the basis is -9.0, the basis rate is -0.44%, and the historical quantile is 48.80% [1] - **Urea (UR601)**: The spot price is 1643.0, the futures price is 1690.0, the basis is -47.0, the basis rate is -2.86%, and the historical quantile is 29.90% [1] - **LLDPE (L2601)**: The spot price is 6640.0, the futures price is 6557.0, the basis is 83.0, the basis rate is 1.27%, and the historical quantile is 48.10% [1] - **PP (PP2601)**: The spot price is 6365.0, the futures price is 6192.0, the basis is 173.0, the basis rate is 2.79%, and the historical quantile is 71.10% [1] - **PVC (V2601)**: The spot price is 4367.0, the futures price is 4360.0, the basis is 7.0, the basis rate is 0.16%, and the historical quantile is 80.20% [1] - **Caustic Soda (SH601)**: The spot price is 2218.8, the futures price is 2092.0, the basis is 126.8, the basis rate is 6.06%, and the historical quantile is 67.90% [1] - **LPG (PG2601)**: The spot price is 4498.0, the futures price is 4241.0, the basis is 257.0, the basis rate is 6.06%, and the historical quantile is 48.30% [1] - **Asphalt (BU2602)**: The spot price is 2930.0, the futures price is 2943.0, the basis is -13.0, the basis rate is -0.44%, and the historical quantile is 49.60% [1] - **Butadiene Rubber (BR2602)**: The spot price is 10600.0, the futures price is 10450.0, the basis is 150.0, the basis rate is 1.44%, and the historical quantile is 44.90% [1] - **Float Glass (FG601)**: The spot price is 984.0, the futures price is 968.0, the basis is 16.0, the basis rate is 1.65%, and the historical quantile is 71.63% [1] - **Soda Ash (SA601)**: The spot price is 1125.0, the futures price is 1125.0, the basis is 0.0, the basis rate is 0.00%, and the historical quantile is 51.68% [1] - **Natural Rubber (RU2605)**: The spot price is 14985.0, the futures price is 14700.0, the basis is 285.0, the basis rate is 1.94%, and the historical quantile is 80.40% [1] Financial Futures - **IF2512**: The spot price is 4583.2, the futures price is 4598.2, the basis is 15.0, the basis rate is 0.33%, and the historical quantile is 30.00% [1] - **IH2512**: The spot price is 2991.6, the futures price is 2998.0, the basis is 6.4, the basis rate is 0.21%, and the historical quantile is 30.60% [1] - **IC2512**: The spot price is 7121.3, the futures price is 7094.4, the basis is -26.9, the basis rate is -0.38%, and the historical quantile is 44.90% [1] - **IM2512**: The spot price is 7380.6, the futures price is 7347.8, the basis is 32.8, the basis rate is 0.45%, and the historical quantile is 89.30% [1] - **2 - year Treasury Bond (TS2603)**: The spot price is 102.42, the futures price is 100.07, the basis is 0.03, the basis rate is 0.03%, and the historical quantile is 17.00% [1] - **5 - year Treasury Bond (TF2603)**: The spot price is 99.48, the futures price is 105.77, the basis is -0.06, the basis rate is -0.06%, and the historical quantile is 19.00% [1] - **10 - year Treasury Bond (T2603)**: The spot price is 107.97, the futures price is 100.37, the basis is 0.09, the basis rate is 0.08%, and the historical quantile is 27.30% [1] - **30 - year Treasury Bond (TL2603)**: The spot price is 127.27, the futures price is 112.45, the basis is 0.61, the basis rate is 0.54%, and the historical quantile is 84.60% [1]