Report Overview - The report is a daily spread report for all varieties on October 23, 2025, with data from Wind, Mysteel, and GF Futures Research Institute [2] Commodity Market Analysis Ferrous Metals - For silicon iron (SF601), the futures price is 5578, the spot price is 5538, the basis is 40, and the historical quantile is 61.20% [1] - For silicon manganese (SM601), the futures price is 5810, the spot price is 5950, the basis is -140, and the historical quantile is 50.80% [1] - For rebar (RB2601), the futures price is 3068, the spot price is 3210, the basis is 142, and the historical quantile is 61.40% [1] - For hot - rolled coil (HC2601), the futures price is 3247, the spot price is 3280, the basis is 33, and the historical quantile is 31.80% [1] - For iron ore (I2601), the futures price is 838, the spot price is 774, the basis is 64, and the historical quantile is 51.30% [1] - For coke (J2601), the futures price is 1624, the spot price is 1710, the basis is -86, and the historical quantile is 19.55% [1] - For coking coal (JM2601), the futures price is 1293, the spot price is 1210, the basis is 83, and the historical quantile is 46.90% [1] Non - ferrous Metals - For copper (CU2512), the futures price is 85420, the spot price is 84955, the basis is -465, and the historical quantile is 12.50% [1] - For aluminum (AL2512), the futures price is 20980, the spot price is 21045, the basis is -65, and the historical quantile is 31.87% [1] - For zinc (ZN2512), the futures price is 21830, the spot price is 22000, the basis is -170, and the historical quantile is 17.50% [1] - For tin (SN2511), the futures price is 281000, the spot price is 281680, the basis is -680, and the historical quantile is 28.12% [1] - For nickel (NI2512), the futures price is 121380, the spot price is 121250, the basis is -130, and the historical quantile is 46.25% [1] - For stainless steel (SS2512), the futures price is 12710, the spot price is 13170, the basis is 460, and the historical quantile is 85.40% [1] - For industrial silicon (SI2511), the futures price is 9350, the spot price is 8485, the basis is 865, and the historical quantile is 58.64% [1] Precious Metals - For gold (AU2512), the futures price is 948.8, the spot price is 952.6, the basis is -3.8, and the historical quantile is 14.60% [1] - For silver (AG2512), the futures price is 11381.0, the spot price is 11404.0, the basis is -23.0, and the historical quantile is 40.90% [1] Agricultural Products - For soybean meal (M2601), the futures price is 2885.0, the spot price is 2850, the basis is -35.0, and the historical quantile is 30.40% [1] - For soybean oil (Y2601), the futures price is 8238.0, the spot price is 8380, the basis is 142.0, and the historical quantile is 28.70% [1] - For palm oil (P2601), the futures price is 9164.0, the spot price is 9090, the basis is -74.0, and the historical quantile is 7.40% [1] - For rapeseed meal (RM601), the futures price is 2307.0, the spot price is 2450, the basis is 143.0, and the historical quantile is 71.90% [1] - For rapeseed oil (OI601), the futures price is 9834.0, the spot price is 10160, the basis is 326.0, and the historical quantile is 82.60% [1] - For corn (C2601), the futures price is 2133.0, the spot price is 2180, the basis is 47.0, and the historical quantile is 64.90% [1] - For corn starch (CS2601), the futures price is 2426.0, the spot price is 2550, the basis is 124.0, and the historical quantile is 63.30% [1] - For live pigs (LH2601), the futures price is 11950, the spot price is 12220.0, the basis is -270.0, and the historical quantile is 35.70% [1] - For eggs (JD2512), the futures price is 2925.0, the spot price is 2780, the basis is -145.0, and the historical quantile is 22.50% [1] - For cotton (CF601), the futures price is 13535.0, the spot price is 14643, the basis is 1108.0, and the historical quantile is 73.30% [1] - For white sugar (SR601), the futures price is 5426.0, the spot price is 5800, the basis is 374.0, and the historical quantile is 64.50% [1] - For apples (AP601), the futures price is 8840, the spot price is 8794.0, the basis is -46.0, and the historical quantile is 24.10% [1] - For red dates (CJ601), the futures price is 11265.0, the spot price is 9600, the basis is -1665.0, and the historical quantile is 27.10% [1] Energy and Chemicals - For paraxylene (PX601), the futures price is 6553.0, the spot price is 6450.0, the basis is -103.0, and the historical quantile is 12.30% [1] - For PTA (TA601), the futures price is 4390.0, the spot price is 4482.0, the basis is -92.0, and the historical quantile is 20.00% [1] - For ethylene glycol (EG2601), the futures price is 4135.0, the spot price is 4051.0, the basis is 84.0, and the historical quantile is 75.00% [1] - For polyester staple fiber (PF512), the futures price is 6136.0, the spot price is 6300.0, the basis is 164.0, and the historical quantile is 74.20% [1] - For styrene (EB2511), the futures price is 6538.0, the spot price is 6510.0, the basis is -28.0, and the historical quantile is 75.20% [1] - For methanol (MA601), the futures price is 2242.0, the spot price is 2261.0, the basis is -19.0, and the historical quantile is 54.10% [1] - For urea (UR601), the futures price is 1621.0, the spot price is 1540.0, the basis is -81.0, and the historical quantile is 5.40% [1] - For LLDPE (L2601), the futures price is 6936.0, the spot price is 6970.0, the basis is 34.0, and the historical quantile is 57.00% [1] - For PP (PP2601), the futures price is 6540.0, the spot price is 6619.0, the basis is -79.0, and the historical quantile is 48.30% [1] - For PVC (V2601), the futures price is 4600.0, the spot price is 4719.0, the basis is -119.0, and the historical quantile is 32.80% [1] - For caustic soda (SH601), the futures price is 2562.5, the spot price is 2380.0, the basis is 182.5, and the historical quantile is 70.90% [1] - For LPG (PG2512), the futures price is 4398.0, the spot price is 4174.0, the basis is 224.0, and the historical quantile is 47.90% [1] - For asphalt (BU2601), the futures price is 3330.0, the spot price is 3249.0, the basis is 81.0, and the historical quantile is 93.40% [1] - For butadiene rubber (BR2512), the futures price is 11050.0, the spot price is 11200.0, the basis is 150.0, and the historical quantile is 61.70% [1] - For glass (FG601), the futures price is 1040.0, the spot price is 1094.0, the basis is -54.0, and the historical quantile is 56.51% [1] - For soda ash (SA601), the futures price is 1223.0, the spot price is 1173.0, the basis is -50.0, and the historical quantile is 20.79% [1] - For natural rubber (RU2601), the futures price is 15150.0, the spot price is 14400.0, the basis is -750.0, and the historical quantile is 50.00% [1] Financial Futures - For IF2512.CFE, the futures price is 4563.4, the spot price is 4592.6, the basis is -29.2, and the historical quantile is 13.80% [1] - For IH2512.CFE, the futures price is 3005.6, the spot price is 3010.1, the basis is -4.5, and the historical quantile is 36.00% [1] - For IC2512.CFE, the futures price is 7011.6, the spot price is 7128.5, the basis is -116.9, and the historical quantile is 1.80% [1] - For IM2512.CFE, the futures price is 7163.2, the spot price is 7312.2, the basis is -149.0, and the historical quantile is 10.10% [1] - For 2 - year bond (TS2512), the futures price is 99.94, the spot price is 102.37, the basis is -0.02, and the historical quantile is 20.00% [1] - For 5 - year bond (TF2512), the futures price is 99.39, the spot price is 105.72, the basis is -0.04, and the historical quantile is 21.80% [1] - For 10 - year bond (T2512), the futures price is 100.19, the spot price is 108.10, the basis is 0.05, and the historical quantile is 21.10% [1] - For 30 - year bond (TL2512), the futures price is 129.31, the spot price is 114.48, the basis is 0.28, and the historical quantile is 37.50% [1]