| 备注 | 期货价格 | 现货价格 | 品种/合约 | 基左 | 县产率 | 历史分位数 | 则得参考 | 1.21% | 硅铁 (SF511) | ୧୫ | 64 90% | 5678 | 5610 | 折算价:72硅铁合格块:内蒙-天津仓单 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2 23% | 硅罐(SM601) | 5950 | 5820 | 130 | 折算价:6517硅锰:内蒙-湖北仓单 | 49 30% | 4.62% | F | 61.90% | 3240 | 3097 | HRB40020mm: 上海 | 螺纹钢 (RB2601) | | | | | | Q235B: 4.75mm: 上海 | 185% | રા | 热卷(HC2601) | 3289 | 44.00% | 3350 | 53 | 6.8096 | 837 | 784 | 折算价:62.5%巴混粉(BRBF):淡水河谷:日照港 ...

数 联系：... Wind、Mystel、广友期货研究所。请仔细阅读报告尾端免费声明。历史分位数:根据各品种近五年的基差水平排序 免费声明 | 5年期债(TF2512) | 99.27 | 105.53 0.02 0.02% 30.50% 国债期货基差=现货价格-期货价格"转换因子（转换因子随 转换因子 0.9405 | | | | --- | --- | --- | --- | --- | | 10年期债(T2512) | 68 66 | 期货合约和CTD券变化,转换因子如备注所示) 107.67 0.11 0.10% 29.20% | 转换因子 0.9264 | | | 30年期债(TL2512) | 129.24 | 114.26 0.46 0.40% 67.70% | | 转换因子 1.1271 | | 122 | 2.09% | 48.00% | 折算价:6517硅锰:内蒙-湖北仓单 | 5970 | 5848 | 硅锰(SM601) | 4.69% | 3260 | 146 | 螺纹钢 (RB2601) | 3114 | 62 50% | HRB40020mm: 上海 | | | | | | -- ...

| -0.48% | 硅铁(SF51) | -28 | 55.30% | 折算价:72硅铁合格块:内蒙-天津仓单 | 5758 | 5786 | 0.54% | 32 | 硅锰(SM601) | 5970 | 2038 | 31.20% | 折算价:6517硅锰:内蒙-湖北仓单 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 123 | 3.88% | 螺纹钢 (RB2601) | 3290 | 56.60% | HRB40020mm: 上海 | 3167 | 42 | Q235B: 4.75mm: 上海 | 3400 | 3358 | 1.25% | 36.50% | 热卷 (HC2601) | | | | | | 40.40% | 48 | 5.96% | 折算价:62.5%巴混粉(BRBF):淡水河谷:日照港 | 853 | 铁矿石 (12601) | 806 | -6.49% | 1646 | 1760 | ...

| 硅铁(SF51) | 62.90% | 折算价:72硅铁合格块:内蒙-天津仓单 | 50 | 5658 | 5608 | 0.89% | 1.51% | 88 | 折算价:6517硅锰:内蒙-湖北仓单 | 硅锰(SM601) | 5920 | 5832 | 41.50% | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | d3 | 3220 | 2.97% | 3127 | 47.20% | HRB40020mm:上海 | 螺纹钢 (RB2601) | 36 | Q235B: 4.75mm: 上海 | 33.60% | 1.07% | 3400 | 热卷(HC2601) | 3364 | | | | | | 4.73% | 837 | 38 | 800 | 33.10% | 折算价:62.5%巴混粉(BRBF):淡水河谷:日照港 | 铁矿石 (12601) | -55 | -3.4% | 1570 | 1626 | ...

Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Core View of the Report The report presents the basis, basis rate, spot reference, spot price, futures price, historical quantile, and other data of various commodities on September 1, 2025, including ferrous metals, non - ferrous metals, precious metals, agricultural products, and energy chemicals, as well as stock index futures and bond futures [1][3]. 3. Summary by Commodity Categories Ferrous Metals - **Silicon Iron (SF51)**: The basis is 112, the basis rate is 2.01%, the spot price is 5678, and the futures price is 5566 [1]. - **Silicon Manganese (SM601)**: The basis information for the 6517 silicon - manganese (Inner Mongolia - Hubei warehouse receipt) shows a spot price of 5970 and a futures - related rate of 56.10% [1]. - **Rebar (RB2601)**: The basis is 180, the basis rate is 5.83%, the spot price is 3270, and the futures price is 3090 [1]. - **Hot - Rolled Coil (HC2601)**: The spot price is 3380, with a change rate of 1.02% [1]. - **Iron Ore (I2601)**: The basis is - 8, the basis rate is - 0.49%, the spot price is 1635, and the futures price is 1643 [1]. - **Coke (J2601)**: Information about the quasi - first - grade metallurgical coke (A13, S0.7, CSR60, MT7) at Rizhao Port is presented [1]. - **Coking Coal (JM2601)**: The basis is - 6, the basis rate is - 0.52%, the spot price is 1145, and the futures price is 1151 [1]. Non - Ferrous Metals - **Copper (CU2510)**: The basis is - 20, the basis rate is - 0.03%, the spot price is 79390, and the futures price is 79410 [1]. - **Aluminum (AL2510)**: The basis is - 10, the basis rate is - 0.05%, the spot price is 20730, and the futures price is 20740 [1]. - **Zinc (ZN2510)**: The basis is - 30, the basis rate is - 0.90%, the spot price is 22140 [1]. - **Tin (SN2510)**: The basis is - 5750, the basis rate is - 2.06%, the spot price is 272900, and the futures price is 278650 [1]. - **Nickel (NI2510)**: The basis is - 100, the basis rate is - 0.08%, the spot price is 121600, and the futures price is 121700 [1]. - **Stainless Steel (SS2510)**: The basis is 455, the basis rate is 3.55%, the spot price is 13270, and the futures price is 12815 [1]. Precious Metals - **Gold (AU2510)**: The basis is - 3.4, the basis rate is - 0.44%, the spot price is 781.7, and the futures price is 785.1 [1]. - **Silver (AG2510)**: The basis is - 21.0, the basis rate is - 0.22%, the spot price is 9365.0, and the futures price is 9386.0 [1]. Agricultural Products - **Soybean Meal (M2601)**: The basis is - 75.0, the basis rate is - 2.45%, the spot price is 2980, and the futures price is 3055.0 [1]. - **Soybean Oil (Y2601)**: The basis is 132.0, the basis rate is 1.58%, the spot price is 8490, and the futures price is 8358.0 [1]. - **Palm Oil (P2601)**: The basis is - 36.0, the basis rate is - 0.39%, the spot price is 9280, and the futures price is 9316.0 [1]. - **Rapeseed Meal (RM601)**: The basis is 57.0, the basis rate is 2.27%, the spot price is 2570, and the futures price is 2513.0 [1]. - **Rapeseed Oil (Ol601)**: The basis is 81.0, the basis rate is 0.83%, the spot price is 9870, and the futures price is 9789.0 [1]. - **Corn (C2511)**: The basis is 79.0, the basis rate is 3.61%, the spot price is 2270, and the futures price is 2191.0 [1]. - **Corn Starch (CS2511)**: The basis is 159.0, the basis rate is 6.36%, the spot price is 2660, and the futures price is 2501.0 [1]. - **Live Pigs (H251)**: The basis is 195.0, the basis rate is 1.44%, the spot price is 13750, and the futures price is 13555.0 [1]. - **Eggs (JD2510)**: The basis is 331.0, the basis rate is 11.26%, the spot price is 3270, and the futures price is 2939.0 [1]. - **Cotton (CF601)**: The basis is 1003.0, the basis rate is 7.04%, the spot price is 15243, and the futures price is 14240.0 [1]. - **Sugar (SR601)**: The basis is 396.0, the basis rate is 7.07%, the spot price is 6000, and the futures price is 5604.0 [1]. - **Apples (AP510)**: The basis is 212.0, the basis rate is 2.53%, the spot price is 8600 [1]. - **Red Dates (CJ601)**: The basis is - 3210.0, the basis rate is - 27.89%, the spot price is 8300, and the futures price is 11510.0 [1]. Energy Chemicals - **Paraxylene (PX511)**: The basis is 96.7, the basis rate is 1.40%, the spot price is 6982.7, and the futures price is 6886.0 [1]. - **PTA (TA601)**: The basis is - 22.0, the basis rate is - 0.46%, the spot price is 4770.0, and the futures price is 4792.0 [1]. - **Ethylene Glycol (EG2601)**: The basis is 65.0, the basis rate is 1.46%, the spot price is 4530.0, and the futures price is 4465.0 [1]. - **Polyester Staple Fiber (PF510)**: The basis is 29.0, the basis rate is 0.44%, the spot price is 6555.0, and the futures price is 6526.0 [1]. - **Styrene (EB2510)**: The basis is 21.0, the basis rate is 0.29%, the spot price is 7185.0, and the futures price is 7164.0 [1]. - **Methanol (MA601)**: The basis is - 143.0, the basis rate is - 6.0%, the spot price is 2230.0, and the futures price is 2373.0 [1]. - **Urea (UR601)**: The basis is - 43.0, the basis rate is 4.20%, the spot price is 1710.0, and the futures price is 1753.0 [1]. - **LLDPE (L2601)**: The basis is - 43.0, the basis rate is - 0.58%, the spot price is 7315.0, and the futures price is 7358.0 [1]. - **PP (PP2601)**: The basis is 30.0, the basis rate is 0.43%, the spot price is 7050.0, and the futures price is 7020.0 [1]. - **PVC (V2601)**: The basis is - 246.0, the basis rate is - 4.97%, the spot price is 4700.0, and the futures price is 4946.0 [1]. - **Caustic Soda (SH601)**: The basis is 26.8, the basis rate is 0.99%, the spot price is 2718.8 [1]. - **LPG (PG2510)**: The basis is 199.0, the basis rate is 4.51%, the spot price is 4608.0, and the futures price is 4409.0 [1]. - **Asphalt (BU2510)**: The basis is - 7.0, the basis rate is - 0.20%, the spot price is 3510.0, and the futures price is 3517.0 [1]. - **Butadiene Rubber (BR2510)**: The basis is 120.0, the basis rate is 1.00%, the spot price is 12100.0, and the futures price is 11980.0 [1]. - **Glass (FG601)**: The basis is - 142.0, the basis rate is - 13.65%, the spot price is 1040.0, and the futures price is 1200.0 [1]. - **Soda Ash (SA601)**: The basis is - 96.0, the basis rate is - 8.00%, the spot price is 1200.0, and the futures price is 1296.0 [1]. - **Natural Rubber (RU2601)**: The basis is - 960.0, the basis rate is - 6.44%, the spot price is 14900.0, and the futures price is 15860.0 [1]. Stock Index Futures and Bond Futures - **IF2509**: The basis is 9.4, the basis rate is 0.21%, the spot price is 4496.8, and the futures price is 4506.2 [1]. - **IH2509**: The basis is 3.5, the basis rate is 0.12%, the spot price is 2976.5, and the futures price is 2980.0 [1]. - **IC2509**: The basis is - 47.1, the basis rate is - 0.67%, the spot price is 7043.9, and the futures price is 6996.8 [1]. - **IM2509**: The basis is - 72.1, the basis rate is - 0.98%, the spot price is 7438.7, and the futures price is 7366.6 [1]. - **TS2512**: The basis is - 0.04, the basis rate is - 0.04%, the spot price is 99.97, and the futures price is 102.42 [1]. - **TF2512**: The basis is 0.05, the basis rate is 0.05%, the spot price is 99.29, and the futures price is 105.52 [1]. - **T2512**: The basis is 0.44, the basis rate is 0.41%, the spot price is 106.25, and the futures price is 107.82 [1]. - **TL2512**: The basis is 0.72, the basis rate is 0.61%, the spot price is 132.09, and the futures price is 116.56 [1].

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core View of the Report The report presents the latest data on the basis, basis rate, historical quantile, spot price, futures price, and spot reference for various commodities across multiple sectors including ferrous metals, non - ferrous metals, precious metals, agricultural products, and energy chemicals on August 27, 2025. It also includes data on stock index futures and bond futures [1]. 3. Summary by Commodity Sectors Ferrous Metals - **Silicon Iron (SF51)**: Futures price is 5698, basis is 158, basis rate is 2.70%, historical quantile is 52.80%, and spot price is 6020 [1]. - **Silicon Manganese (SM601)**: Futures price is 5862, with relevant spot price and other data provided [1]. - **Rebar (RB2510)**: Futures price is 3113, basis is 187, basis rate is 6.01%, historical quantile is 70.10%, and spot price is 3300 [1]. - **Hot - Rolled Coil (HC2510)**: Futures price is 3400, basis is 33, basis rate is 0.98%, historical quantile is 31.70%, and spot price is 3367 [1]. - **Iron Ore (12601)**: Futures price has a change of - 2.0996, basis is - 35, basis rate is - 2.0996%, historical quantile is 40.85%, and spot price is 1681 [1]. - **Coke (J2601)**: Relevant data on basis, basis rate, historical quantile, and spot price are presented [1]. - **Coking Coal (JM2601)**: Futures price is 1145, basis is - 16, basis rate is - 1.34%, historical quantile is 21.70%, and spot price is 1161 [1]. Non - Ferrous Metals - **Copper (CU2510)**: Futures price is 79190, basis is 130, basis rate is 0.50%, historical quantile is 81.66%, and spot price is 79585 [1]. - **Aluminum (AL2510)**: Futures price is 20715, basis is 0, basis rate is 0.31%, historical quantile is 68.75%, and spot price is 20780 [1]. - **Alumina (AO2601)**: Futures price is 168, basis and other relevant data are provided [1]. - **Zinc (ZN2510)**: Futures price is 22210, basis is - 60, basis rate is - 0.27%, historical quantile is 40.41%, and spot price is 22270 [1]. - **Tin (SN2510)**: Futures price is 269420, basis is 580, basis rate is 0.22%, historical quantile is 64.37%, and spot price is 270000 [1]. - **Nickel (NISE10)**: Futures price is 120550, basis is 180, basis rate is 0.15%, historical quantile is 66.45%, and spot price is 120370 [1]. - **Stainless Steel (SS2510)**: Futures price and relevant data are presented [1]. - **Lithium Carbonate (LC2511)**: Futures price is 81700, basis and other relevant data are provided [1]. - **Industrial Silicon (SI2511)**: Futures price is 9350, basis and other relevant data are provided [1]. Precious Metals - **Gold (AU2510)**: Futures price is 781.1, basis is - 4.3, basis rate is - 0.55%, historical quantile is 9.20%, and spot price is 776.8 [1]. - **Silver (AG2510)**: Futures price is 9354.0, basis is - 43.0, basis rate is - 0.46%, historical quantile is 10.50%, and spot price is 9311.0 [1]. Agricultural Products - **Soybean Meal (M2601)**: Futures price is 3000, basis is 81, basis rate is 2.63%, historical quantile is 22.60%, and spot price is 3081 [1]. - **Soybean Oil (V2601)**: Futures price is 8456.0, basis and other relevant data are provided [1]. - **Palm Oil (P2601)**: Futures price is 9500.0, basis is - 20, basis rate is - 0.21%, historical quantile is 12.90%, and spot price is 9480 [1]. - **Rapeseed Meal (RM601)**: Futures price is 2526.0, basis is 44, basis rate is 1.74%, historical quantile is 52.80%, and spot price is 2570 [1]. - **Rapeseed Oil (Ol601)**: Futures price is 9821.0, basis is 209, basis rate is 2.13%, historical quantile is 69.30%, and spot price is 10030 [1]. - **Corn (C2511)**: Futures price is 2158.0, basis is 102, basis rate is 4.73%, historical quantile is 90.30%, and spot price is 2260 [1]. - **Corn Starch (CS2511)**: Futures price is 2475.0, basis is 185, basis rate is 7.47%, historical quantile is 83.90%, and spot price is 2660 [1]. - **Live Hogs (H2511)**: Futures price and relevant data are presented [1]. - **Eggs (JD2510)**: Futures price is 3270, basis is 257, basis rate is 8.53%, historical quantile is 52.70%, and spot price is 3013 [1]. - **Cotton (CF601)**: Futures price is 14100.0, basis is 1135, basis rate is 8.05%, historical quantile is 76.70%, and spot price is 15235 [1]. - **Sugar (SR601)**: Futures price is 5632.0, basis is 398, basis rate is 7.07%, historical quantile is 39.20%, and spot price is 6030 [1]. - **Apples (AP510)**: Futures price is 8600, basis is 476, basis rate is 5.86%, historical quantile is 73.90%, and spot price is 8124 [1]. - **Red Dates (CJ601)**: Futures price is 11410.0, basis is - 3110, basis rate is - 27.26%, historical quantile is 4.90%, and spot price is 8300 [1]. Energy Chemicals - **Para - Xylene (PX511)**: Futures price is 6994.0, basis is 103.4, basis rate is 1.48%, historical quantile is 54.60%, and spot price is 7097.4 [1]. - **PTA (TA601)**: Futures price is 4870.0, basis is - 10, basis rate is - 0.21%, historical quantile is 48.60%, and spot price is 4860 [1]. - **Ethylene Glycol (EG2601)**: Futures price is 4490.0, basis is 55, basis rate is 1.22%, historical quantile is 80.20%, and spot price is 4545 [1]. - **Polyester Staple Fiber (PF510)**: Futures price and relevant data are presented [1]. - **Styrene (EB2510)**: Futures price is 7257.0, basis is 68, basis rate is 0.94%, historical quantile is 41.70%, and spot price is 7325 [1]. - **Methanol (MA601)**: Futures price is 2395.0, basis is - 122.5, basis rate is - 5.11%, historical quantile is 7.50%, and spot price is 2272.5 [1]. - **Urea (UR601)**: Futures price is 1737.0, basis is - 37, basis rate is - 2.13%, historical quantile is 5.10%, and spot price is 1700 [1]. - **LLDPE (L2601)**: Futures price is 7402.0, basis is - 77, basis rate is - 1.04%, historical quantile is 5.70%, and spot price is 7325 [1]. - **PP (PP2601)**: Futures price is 7055.0, basis is 9, basis rate is 0.13%, historical quantile is 24.60%, and spot price is 7046 [1]. - **PVC (V2601)**: Futures price is 4999.0, basis is - 239, basis rate is - 4.78%, historical quantile is 20.20%, and spot price is 4760 [1]. - **Caustic Soda (SH601)**: Futures price is 2703.0, basis is - 15.5, basis rate is - 0.57%, historical quantile is 45.80%, and spot price is 2687.5 [1]. - **LPG (PG2510)**: Futures price is 4435.0, basis is 123, basis rate is 2.77%, historical quantile is 37.80%, and spot price is 4558 [1]. - **Asphalt (BU2510)**: Futures price is 3523.0, basis is 17, basis rate is 0.48%, historical quantile is 55.90%, and spot price is 3540 [1]. - **Butadiene Rubber (BR2510)**: Futures price is 11845.0, basis is 255, basis rate is 2.15%, historical quantile is 56.60%, and spot price is 12100 [1]. - **Glass (FG601)**: Futures price and relevant data are presented [1]. - **Soda Ash (SA601)**: Futures price is 1311.0, basis is - 106, basis rate is - 8.80%, historical quantile is 5.88%, and spot price is 1205 [1]. - **Natural Rubber (RU2601)**: Futures price is 14950.0, basis is - 935, basis rate is - 6.25%, historical quantile is 34.58%, and spot price is 15885 [1]. Stock Index Futures and Bond Futures - **IF2509.CFF**: Futures price is 4449.0, basis is - 3.6, basis rate is - 0.08%, historical quantile is 52.20%, and spot price is 4452.6 [1]. - **IH2509.CFE**: Futures price and relevant data are presented [1]. - **IC2509.CFE**: Futures price is 6964.1, basis is - 47.7, basis rate is - 0.69%, historical quantile is 21.00%, and spot price is 6916.4 [1]. - **IM2509.CFE**: Futures price is 7415.4, basis is - 61.1, basis rate is - 0.82%, historical quantile is 70.60%, and spot price is 7476.5 [1]. - **2 - year Bond (TS2512)**: Futures price is 102.38, basis and other relevant data are provided [1]. - **5 - year Bond (TF2512)**: Futures price is 105.52, basis and other relevant data are provided [1]. - **10 - year Bond (T2512)**: Futures price is 107.94, basis and other relevant data are provided [1]. - **30 - year Bond (TL2512)**: Futures price is 117.12, basis and other relevant data are provided [1].