Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core View of the Report - The report presents the latest price information of various commodities and financial futures on August 11, 2025, including ferrous metals, non - ferrous metals, precious metals, agricultural products, energy and chemical products, and stock index and bond futures, along with data such as historical quantiles, basis, and basis rates [1] 3. Summary by Commodity Categories Ferrous Metals - **Silicon Manganese (SM509)**: The spot price is 6070, the futures price is 6046, the basis is 127, and the basis rate is 57.70%, with a historical quantile of 29.10% [1] - **Silicon Iron (SF509)**: The spot price is 5828, the futures price is 5772, the basis is 56, the basis rate is 0.97%, and the historical quantile is 64.10% [1][5] - **Rebar (RB2510)**: The spot price of HRB400 20mm in Shanghai is 3213 [1] - **Hot - Rolled Coil (HC2510)**: The basis is 42, the basis rate is 5.31%, and the historical quantile is 3450 [1] - **Iron Ore (I2509)**: The basis is - 62, the basis rate is - 3.73%, and the historical quantile is 26.81% [1] - **Coke (J2509)**: The basis is - 88, the basis rate is - 7.7%, and the historical quantile is 14.10% [1] - **Coking Coal (JM2601)**: The basis is - 88, the basis rate is - 7.7%, and the historical quantile is 14.10% [1] Non - Ferrous Metals - **Copper (CU2509)**: The spot price is 78530, the futures price is 78490, the basis is 40, the basis rate is 0.05%, and the historical quantile is 47.29% [1] - **Aluminum (AL2509)**: The spot price is 20685, the futures price is 20650, the basis is - 35, the basis rate is - 0.17%, and the historical quantile is 42.50% [1] - **Alumina (AO2509)**: The basis is 80, the basis rate is 2.53%, and the historical quantile is 55.50% [1] - **Zinc (ZN2509)**: The spot price is 22515, the futures price is 22400, the basis is - 40, the basis rate is - 0.51%, and the historical quantile is 24.37% [1] - **Tin (SN2509)**: The spot price is 268000, the futures price is 267780, the basis is 220, the basis rate is 0.08%, and the historical quantile is 54.79% [1] - **Nickel (NI2509)**: The basis is - 30, the basis rate is - 0.02%, and the historical quantile is 54.58% [1] Precious Metals - **Gold (AU2510)**: The spot price is 787.8, the futures price is 783.3, the basis is - 4.5, the basis rate is - 0.58%, and the historical quantile is 7.40% [1] - **Silver (AG2510)**: The spot price is 9278.0, the futures price is 9249.0, the basis is - 29.0, the basis rate is - 0.31%, and the historical quantile is 28.70% [1] Agricultural Products - **Soybean Meal (M2509)**: The spot price is 3094.0, the futures price is 2930, the basis is - 164.0, the basis rate is - 5.30%, and the historical quantile is 16.40% [1] - **Soybean Oil (Y2601)**: The spot price is 8510, the futures price is 8388.0, the basis is 122.0, the basis rate is 1.45%, and the historical quantile is 20.70% [1] - **Palm Oil (P2509)**: The spot price is 9040, the futures price is 8980.0, the basis is 60.0, the basis rate is 0.67%, and the historical quantile is 26.90% [1] - **Rapeseed Meal (RM509)**: The spot price is 2773.0, the futures price is 2620, the basis is - 153.0, the basis rate is - 5.52%, and the historical quantile is 6.00% [1] - **Rapeseed Oil (O1509)**: The spot price is 9700, the futures price is 9574.0, the basis is 126.0, the basis rate is 1.32%, and the historical quantile is 50.00% [1] - **Corn (C2509)**: The spot price is 2300, the futures price is 2255.0, the basis is 45.0, the basis rate is 2.00%, and the historical quantile is 68.60% [1] - **Corn Starch (CS2509)**: The spot price is 2750, the futures price is 2642.0, the basis is 108.0, the basis rate is 4.09%, and the historical quantile is 52.30% [1] - **Live Pigs (H2511)**: The spot price is 14180.0, the futures price is 13850, the basis is - 330.0, the basis rate is - 2.33%, and the historical quantile is 34.60% [1] - **Eggs (JD2509)**: The spot price is 3362.0, the futures price is 2870, the basis is - 492.0, the basis rate is - 14.63%, and the historical quantile is 7.40% [1] - **Cotton (CF509)**: The spot price is 15063, the futures price is 13640.0, the basis is 1423.0, the basis rate is 10.48%, and the historical quantile is 92.40% [1] - **Sugar (SR601)**: The spot price is 6010, the futures price is 5573.0, the basis is 437.0, the basis rate is 7.84%, and the historical quantile is 79.20% [1] - **Apples (AP510)**: The spot price is 8280, the futures price is 8077.0, the basis is 203.0, the basis rate is 2.51%, and the historical quantile is 33.10% [1] - **Red Dates (CJ601)**: The spot price is 11540.0, the futures price is 9300, the basis is - 2240.0, the basis rate is - 19.41%, and the historical quantile is 7.60% [1] Energy and Chemical Products - **Para - Xylene (PX509)**: The spot price is 6946.6, the futures price is 6726.0, the basis is 220.6, the basis rate is 3.28%, and the historical quantile is 84.50% [1] - **PTA (TA509)**: The basis is - 9.0, the basis rate is - 0.19%, and the historical quantile is 48.70% [1] - **Ethylene Glycol (EG2509)**: The spot price is 4465.0, the futures price is 4384.0, the basis is 81.0, the basis rate is 1.85%, and the historical quantile is 87.70% [1] - **Polyester Staple Fiber (PF510)**: The spot price is 6490.0, the futures price is 6382.0, the basis is 108.0, the basis rate is 1.69%, and the historical quantile is 70.20% [1] - **Styrene (EB2509)**: The spot price is 7345.0, the futures price is 7235.0, the basis is 110.0, the basis rate is 1.52%, and the historical quantile is 50.80% [1] - **Methanol (MA509)**: The spot price is 2383.0, the futures price is 2382.0, the basis is - 1.0, the basis rate is - 0.04%, and the historical quantile is 36.70% [1] - **Urea (UR509)**: The spot price is 1780.0, the futures price is 1728.0, the basis is 52.0, the basis rate is 3.01%, and the historical quantile is 28.20% [1] - **LLDPE (L2509)**: The spot price is 7300.0, the futures price is 7290.0, the basis is 10.0, the basis rate is 0.14%, and the historical quantile is 22.90% [1] - **PP (PP2509)**: The spot price is 7120.0, the futures price is 7062.0, the basis is 58.0, the basis rate is 0.82%, and the historical quantile is 38.60% [1] - **PVC (V2509)**: The spot price is 4993.0, the futures price is 4910.0, the basis is - 83.0, the basis rate is - 1.66%, and the historical quantile is 60.00% [1] - **Caustic Soda (SH509)**: The basis is 54.0, the basis rate is 2.21%, and the historical quantile is 56.20% [1] - **LPG (PG2509)**: The spot price is 4348.0, the futures price is 3774.0, the basis is 574.0, the basis rate is 15.21%, and the historical quantile is 73.90% [1] - **Asphalt (BU2510)**: The spot price is 3760.0, the futures price is 3478.0, the basis is 282.0, the basis rate is 8.11%, and the historical quantile is 88.10% [1] - **Butadiene Rubber (BR2509)**: The basis is - 15.0, the basis rate is - 0.13%, and the historical quantile is 28.10% [1] - **Glass (FG509)**: The spot price is 1104.0, the futures price is 1063.0, the basis is 41.0, the basis rate is 3.71%, and the historical quantile is 78.99% [1] - **Soda Ash (SA601)**: The basis is - 93.0, the basis rate is - 7.51%, and the historical quantile is 5.25% [1] - **Natural Rubber (RU2601)**: The spot price is 15550.0, the futures price is 14500.0, the basis is - 1050.0, the basis rate is - 7.24%, and the historical quantile is 26.04% [1] Stock Index and Bond Futures - **IF2509**: The spot price is 4105.0, the futures price is 4083.2, the basis is - 21.8, the basis rate is - 0.58%, and the historical quantile is 20.40% [1] - **IH2509**: The spot price is 2789.2, the futures price is 2785.4, the basis is - 3.8, the basis rate is - 0.14%, and the historical quantile is 39.70% [1] - **IC2509**: The spot price is 6323.5, the futures price is 6227.0, the basis is - 96.5, the basis rate is - 1.53%, and the historical quantile is 3.30% [1] - **IM2509**: The spot price is 6838.1, the futures price is 6735.0, the basis is - 103.1, the basis rate is - 1.53%, and the historical quantile is 52.00% [1] - **2 - Year Bond (TS2509)**: The spot price is 102.37, the futures price is 100.31, the basis is 0.03, the basis rate is 0.03%, and the historical quantile is 36.30% [1] - **5 - Year Bond (TF2509)**: The basis is 0.07, the basis rate is 0.07%, and the historical quantile is 37.30% [1] - **10 - Year Bond (T2509)**: The basis is 0.07, the basis rate is 0.06%, and the historical quantile is 23.70% [1] - **30 - Year Bond (TL2509)**: The basis is 0.29, the basis rate is 0.29%, and the historical quantile is 40.20% [1]