Group 1: Report Information - Report Name: Iron Ore Daily Report [2] - Report Date: December 08, 2025 [2] Group 2: Futures Market Data - DCE01 Price: 778.5, down 7.0 from yesterday [2] - DCE05 Price: 760.5, down 8.5 from yesterday [2] - DCE09 Price: 737.0, down 7.0 from yesterday [2] - I01 - I05 Spread: 18.0, up 1.5 from yesterday [2] - I05 - I09 Spread: 23.5, down 1.5 from yesterday [2] - I09 - I01 Spread: -41.5, unchanged from yesterday [2] Group 3: Spot Market Data - PB粉 (60.8%) Price: 780, down 8 from the day before yesterday [2] - Newman Powder Price: 785, down 6 from the day before yesterday [2] - Macfarlane Powder Price: 777, down 8 from the day before yesterday [2] - Jinbuba Powder (60.5%) Price: 740, down 6 from the day before yesterday [2] - Roy Hill Powder Price: 773, down 6 from the day before yesterday [2] - Super Special Powder Price: 675, down 5 from the day before yesterday [2] - BRBF (62.5%) Price: 826, down 3 from the day before yesterday [2] - BRBF (63%) Price: 832, down 3 from the day before yesterday [2] - FMG Price: 732, unchanged from the day before yesterday [2] - Carajás Powder Price: 870, down 8 from the day before yesterday [2] - Karara Concentrate Price: 877, down 5 from the day before yesterday [2] - Ukrainian Concentrate Price: 875, down 5 from the day before yesterday [2] - IOC6 Price: 757, down 6 from the day before yesterday [2] - KUMBA Price: 864, down 7 from the day before yesterday [2] - SP10 Price: 724, down 6 from the day before yesterday [2] - Minmetals Standard Powder Price: 791, down 11 from the day before yesterday [2] - Optimal Delivery Product: Carajás Powder [2] Group 4: Spot Variety Spread and Import Profit - Carajás Powder - PB Powder Spread: 83, down 2 from the day before yesterday [2] - Newman Powder - Jinbuba Powder Spread: 45, unchanged from the day before yesterday [2] - Carajás Powder - Jinbuba Powder Spread: 130, down 2 from the day before yesterday [2] - PB - Jinbuba Powder Spread: 47, unchanged from the day before yesterday [2] - Newman Lump - Newman Powder Spread: 71, up 1 from the day before yesterday [2] - Roy Hill Lump - Roy Hill Powder Spread: 13, up 1 from the day before yesterday [2] - Macfarlane Powder - Super Special Powder Spread: 102, down 3 from the day before yesterday [2] - PB Powder - Super Special Powder Spread: 112, down 1 from the day before yesterday [2] - PB Lump - PB Powder Spread: 78, unchanged from the day before yesterday [2] - Carajás Powder Import Profit: -22, down 4 from the day before yesterday [2] - Newman Powder Import Profit: 10, down 2 from the day before yesterday [2] - PB Powder Import Profit: -10, down 4 from the day before yesterday [2] - Jinbuba Powder Import Profit: 17, unchanged from the day before yesterday [2] - Super Special Powder Import Profit: -10, down 1 from the day before yesterday [2] - PB Lump Import Profit: 76, up 1 from the day before yesterday [2] - BRBF Import Profit: 6, unchanged from the day before yesterday [2] - Macfarlane Powder Import Profit: 9, down 3 from the day before yesterday [2] - FMG Import Profit: 1, up 4 from the day before yesterday [2] Group 5: Platts Index and Internal - External US Dollar Spread - Platts Iron Ore 62% Price: 107.1, down 0.9 from the day before yesterday [2] - Platts Iron Ore 65% Price: 119.1, down 0.9 from the day before yesterday [2] - Platts Iron Ore 58% Price: 95.4, down 0.7 from the day before yesterday [2] - SGX Main - DCE01 Spread: 2.6, up 0.3 from the day before yesterday [2] - SGX Main - DCE05 Spread: 4.7, up 0.2 from the day before yesterday [2] - SGX Main - DCE09 Spread: 7.8, up 0.3 from the day before yesterday [2]

Group 1: Report Information - Report Name: Iron Ore Daily Report [2] - Date: December 04, 2025 [2] Group 2: Futures Market - DCE01 price: 794.5, down 5.0 from yesterday [2] - DCE05 price: 777.0, unchanged from yesterday [2] - DCE09 price: 753.0, unchanged from yesterday [2] - I01 - I05 spread: 17.5, down 5.0 from yesterday [2] - I05 - I09 spread: 24.0, unchanged from yesterday [2] - I09 - I01 spread: -41.5, up 5.0 from yesterday [2] Group 3: Spot Market - PB powder (60.8%) price: 792, down 1 from yesterday [2] - Newman powder price: 795, up 1 from yesterday [2] - Mac powder price: 786, down 4 from yesterday [2] - Jinbuba powder (60.5%) price: 749, down 1 from yesterday [2] - Roy Hill powder price: 783, unchanged from yesterday [2] - Super Special powder price: 688, down 2 from yesterday [2] - BRBF (62.5%) price: 832, down 4 from yesterday [2] - BRBF (63%) price: 838, down 4 from yesterday [2] - FMG price: 738, up 2 from yesterday [2] - Carajás powder price: 885, down 3 from yesterday [2] - Karara concentrate price: 887, down 3 from yesterday [2] - Ukrainian concentrate price: 885, down 3 from yesterday [2] - IOC6 price: 770, down 4 from yesterday [2] - KUMBA price: 878, down 1 from yesterday [2] - SP10 price: 733, down 1 from yesterday [2] - Minmetals standard powder price: 805, unchanged from yesterday [2] - Optimal delivery product: Carajás powder [2] Group 4: Spot Price Spread - Carajás powder - PB powder spread: 88, down 3 from yesterday [2] - Newman powder - Jinbuba powder spread: 46, up 2 from yesterday [2] - Carajás powder - Jinbuba powder spread: 136, down 2 from yesterday [2] - PB powder - Jinbuba powder spread: 48, up 1 from yesterday [2] - Newman lump - Newman powder spread: 72, down 3 from yesterday [2] - Roy Hill lump - Roy Hill powder spread: 14, down 2 from yesterday [2] - Mac powder - Super Special powder spread: 98, down 2 from yesterday [2] - PB powder - Super Special powder spread: 109, up 2 from yesterday [2] - PB lump - PB powder spread: 78, down 1 from yesterday [2] Group 5: Import Profit - Carajás powder import profit: -11, unchanged from yesterday [2] - Newman powder import profit: 18, up 3 from yesterday [2] - PB powder import profit: -2, up 2 from yesterday [2] - Jinbuba powder import profit: 21, up 1 from yesterday [2] - Super Special powder import profit: -1, up 1 from yesterday [2] - PB lump import profit: 78, up 2 from yesterday [2] - BRBF import profit: 8, unchanged from yesterday [2] - Mac powder import profit: 13, down 3 from yesterday [2] - FMG import profit: 4, up 5 from yesterday [2] Group 6: Platts Index - Platts 62% iron ore price: 108.0, up 0.2 from yesterday [2] - Platts 65% iron ore price: 120.0, up 0.2 from yesterday [2] - Platts 58% iron ore price: 96.1, up 0.4 from yesterday [2] Group 7: Domestic and Foreign Dollar Spread - SGX main - DCE01 spread: 1.9, up 0.1 from yesterday [2] - SGX main - DCE05 spread: 4.7, down 0.3 from yesterday [2] - SGX main - DCE09 spread: 7.8, down 0.3 from yesterday [2]

Report Summary 1. Report Industry Investment Rating No investment rating is provided in the report. 2. Core View The report presents the daily data of iron ore futures and spot markets on November 3, 2025, including price changes, basis, spreads, import profits, and other information. 3. Summary by Relevant Catalogs Futures Market - **Futures Prices**: DCE01 was 782.5, down 17.5 from yesterday; DCE05 was 760.5, down 16.0; DCE09 was 740.5, down 14.5 [2]. - **Inter - month Spreads**: I01 - I05 was 22.0, down 1.5; I05 - I09 was 20.0, down 1.5; I09 - I01 was - 42.0, up 3.0 [2]. Spot Market - **Spot Prices**: PB powder (60.8%) was 797, down 1; Newman powder was 800, down 2; etc. [2]. - **Basis**: The basis of the optimal delivery product (McFadden powder) for 01 contract was 56, 79 for 05 contract, and 101 for 09 contract [2]. - **Spot Spreads**: The spread of Carajás powder - PB powder was 110, down 5; Newman powder - Jinbuba powder was 48, up 1; etc. [2]. - **Import Profits**: The import profit of Carajás powder was 9, up 1; Newman powder was 6, down 2; etc. [2]. Indexes - **Platts Indexes**: The price of Platts 62% iron ore was 107.4, down 0.3; 65% was 120.7, down 0.5; 58% was 95.7, down 0.6 [2]. - **Internal - External US Dollar Spreads**: SGX main - DCE01 was 8.0, up 0.2; SGX main - DCE05 was 10.9, up 0.2; SGX main - DCE09 was 13.7, up 0.3 [2].

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints No information provided. 3. Summary by Relevant Catalogs Futures Market - DCE01 decreased from 787.0 to 776.5, a drop of 10.5; DCE05 decreased from 763.0 to 754.0, a drop of 9.0; DCE09 decreased from 806.5 to 797.0, a drop of 9.5 [2] - I01 - I05 decreased from 24.0 to 22.5, a drop of 1.5; I05 - I09 increased from -43.5 to -43.0, an increase of 0.5; I09 - I01 increased from 19.5 to 20.5, an increase of 1.0 [2] Spot Market - Most iron ore spot prices increased, such as PB powder rising from 767 to 780, an increase of 13; Newman powder rising from 764 to 776, an increase of 12 [2] - The optimal delivery product is PB powder, with a standard - product price of 822, 01 - factory - warehouse basis of 27, 05 - factory - warehouse basis of 51, and 09 - factory - warehouse basis of 8 [2] Spot Variety Spread and Import Profit - Some spot variety spreads remained stable, like the card - powder - PB - powder spread at 110, unchanged; the card - powder - Jinbuba spread at 137, unchanged [2] - Import profits of most varieties decreased, such as card powder's import profit dropping from -19 to -23, a decrease of 4; Newman powder's import profit dropping from 4 to -1, a decrease of 6 [2] Index and Spread - The Platts 62% iron ore price increased from 100.4 to 103.0, an increase of 2.7; the Platts 65% iron ore price increased from 117.9 to 120.5, an increase of 2.7; the Platts 58% iron ore price increased from 88.5 to 91.0, an increase of 2.5 [2] - SGX - DCE01 decreased from 7.7 to 7.5, a decrease of 0.2; SGX - DCE05 remained unchanged at 10.5; SGX - DCE09 decreased from 5.3 to 5.0, a decrease of 0.2 [2]

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

Report Summary 1. Report Information - Report Title: "Guangda Futures Black: Iron Ore Basis and Spread Monitoring Daily Report" [1] - Date: July 31, 2025 [2] 2. Core Views - The report provides daily monitoring data on iron ore futures contract prices, spreads, and basis, as well as information on contract rule changes and the composition of the research team. 3. Key Points by Section 3.1 Futures Contract Prices and Spreads - **Contract Prices**: The closing prices of I05, I09, and I01 contracts decreased compared to the previous day, with changes of -3.5, -9.0, and -4.5 respectively [4]. - **Contract Spreads**: The spreads of I05 - I09, I09 - I01, and I01 - I05 contracts changed by 5.5, -4.5, and -1.0 respectively [4]. 3.2 Basis - **Basis Data**: The basis of various iron ore varieties changed, with some increasing and some decreasing. For example, the basis of BRBF increased by 8, while the basis of Carajás fines decreased by 1 [7]. - **Basis Charts**: Multiple charts show the basis trends of different iron ore varieties over time [9][10][11]. 3.3 Contract Rule Changes - **New Deliverable Varieties**: Four new deliverable varieties (Benxi Concentrate, IOC6, KUMBA, and Ukrainian Concentrate) were added, and four more (Taigang Concentrate, Magang Concentrate, Wugang Standard Fines, and SP10 Fines) were also added later [12]. - **Brand Premium Adjustment**: Only PB fines, BRBF, and Carajás fines have a brand premium of 15 yuan/ton, and the rest are 0 yuan/ton [12]. - **Quality Premium Adjustment**: The allowable range of iron grade and other element indicators was adjusted, and a dynamic adjustment mechanism for the iron element premium was introduced [12]. 3.4 Variety Spreads - **Spread Data**: The spreads between different iron ore varieties changed. For example, the spread of PB lump - PB fines increased by 2, while the spread of PB fines - mixed fines decreased by 2 [14]. - **Spread Charts**: Multiple charts show the spread trends between different iron ore varieties over time [16][17][19][20][21]. 3.5 Research Team Introduction - The black research team consists of Qiu Yuecheng, Zhang Xiaojin, Liu Xi, and Zhang Chunjie, each with rich industry experience and professional qualifications [24].

Report Summary 1. Report Information - The report is titled "Guangqi Black: Iron Ore Basis and Spread Monitoring Daily Report" dated July 15, 2025, from Guangqi Research [1] 2. Core Viewpoints - The report provides comprehensive data on iron ore futures contracts, including prices, spreads, and basis, along with relevant contract adjustment information and graphical analysis [3][6][11] 3. Key Points by Content 3.1 Futures Contracts - I05 closed at 717.5 yuan/ton, up 0.5 yuan from the previous day; I09 closed at 766.5 yuan/ton, up 2.5 yuan; I01 remained unchanged at 736.5 yuan/ton [3] - The spread of I05 - I09 was -49.0 yuan/ton, down 2.0 yuan; I09 - I01 was 30.0 yuan/ton, up 2.5 yuan; I01 - I05 was 19.0 yuan/ton, down 0.5 yuan [3] 3.2 Basis - For various iron ore varieties, the basis values and their changes are presented. For example, the basis of Carajás fines was 40 yuan/ton, unchanged from the previous day [6] 3.3 Contract Adjustments - Four new deliverable varieties (Benxi concentrate, IOC6, KUMBA, Ukrainian concentrate) were added with a brand premium of 0 yuan/ton, effective from the I2202 contract [11] - The brand premiums of some existing varieties were adjusted. Only PB fines, BRBF, and Carajás fines have a brand premium of 15 yuan/ton, while others are 0 yuan/ton [11] - The allowable range of iron grade and other element indicators was adjusted, and a more detailed quality premium system was introduced [11] - Four more varieties (Taigang concentrate, Magang concentrate, Minmetals standard fines, SP10 fines) were added as deliverable brands with a brand premium of 0 yuan/ton [11] 3.4 Variety Spreads - The spreads between different iron ore varieties are provided, such as the spread of PB lump - PB fines was 145.0 yuan/ton, down 7.0 yuan from the previous day [13] 3.5 Research Team - The black research team includes Qiu Yuecheng, Zhang Xiaojin, Liu Xi, and Zhang Chunjie, each with rich industry experience and relevant qualifications [26]

Group 1: Report Overview - Report Title: "Light Period Black: Iron Ore Basis and Spread Monitoring Daily Report" [1] - Report Date: July 9, 2025 [1] Group 2: Futures Contract Price and Spread - **Price Changes**: I05 closed at 689.5 yuan/ton, up 2.0 yuan from the previous day; I09 closed at 733.0 yuan/ton, up 2.0 yuan; I01 closed at 707.0 yuan/ton, up 3.0 yuan [3]. - **Spread Changes**: The spread of I05 - I09 remained unchanged at -43.5 yuan/ton; I09 - I01 decreased by 1.0 yuan to 26.0 yuan/ton; I01 - I05 increased by 1.0 yuan to 17.5 yuan/ton [3]. Group 3: Basis Data - **Price and Basis Changes**: Various iron ore varieties showed different price and basis changes. For example, the price of Carajás fines (卡粉) increased by 2.0 yuan to 815 yuan/ton, with the basis remaining unchanged at 34 yuan; the price of Macarthur River fines (麦克粉) increased by 3.0 yuan to 708 yuan/ton, and the basis increased by 1 yuan to 30 yuan [6]. Group 4: Variety Spread - **Spread Changes**: Many variety spreads changed. For instance, the spread of PB lump - PB fines decreased by 1.0 yuan to 148.0 yuan/ton; the spread of FMG mixed fines - Super Special fines increased by 2.0 yuan to 48.0 yuan/ton [13]. Group 5: Rule Adjustments - **Adjustments to Deliverable Varieties**: Four new deliverable varieties (本钢精粉, IOC6, KUMBA, 乌克兰精粉) were added, and the brand premium for all was set to 0, effective from the I2202 contract. Four more varieties (太钢精粉, 马钢精粉, 五矿标准粉, SP10粉) were added as deliverable brands with a brand premium of 0 yuan/ton, applicable to I2312 and subsequent contracts [11]. - **Brand Premium Adjustments**: Only PB fines, BRBF, and Carajás fines have a brand premium of 15 yuan/ton, while other deliverable brands have a premium of 0 yuan/ton [11]. - **Quality Difference and Premium Adjustments**: The allowable range of iron grade was adjusted to ≥56%, and the allowable ranges for other elements were set. A dynamic adjustment mechanism for the iron element premium (X) was introduced [11]. Group 6: Research Team - The black research team includes Qiu Yuecheng, Zhang Xiaojin, Liu Xi, and Zhang Chunjie, each with rich experience in the steel and futures industries [26].

Report Summary 1. Report Information - Report Title: "光期黑色：铁矿石基差及价差监测日报" - Report Date: July 4, 2025 - Report Source: Everbright Futures Research Institute [1] 2. Core Viewpoints - The report provides daily monitoring data on iron ore basis and spreads, including futures contract prices, spreads between different contracts, basis data of various iron ore varieties, and spreads between different iron ore varieties. It also details the adjustments to the deliverable brands and premium/discount rules of iron ore futures on the Dalian Commodity Exchange. 3. Key Points by Section 3.1 Futures Contract Prices and Spreads - The closing prices of I05, I09, and I01 contracts increased by 9.5, 10.5, and 10.5 respectively compared to the previous day. The spreads between I05 - I09, I09 - I01, and I01 - I05 contracts changed by -1.0, 0.0, and 1.0 respectively [3]. 3.2 Basis Data - The prices of various iron ore varieties such as Carajás fines, BRBF, Newman fines, etc. showed different degrees of change compared to the previous day. The basis of most varieties also changed, with some increasing and some decreasing [6]. 3.3 Adjustments to Deliverable Brands and Rules - Four new deliverable varieties (Benxi concentrate, IOC6, KUMBA, Ukrainian concentrate) were added, and the brand premium/discounts of all new varieties are 0, effective from the I2202 contract. - The premium/discounts of existing varieties were adjusted according to the new rules. Only PB fines, BRBF, and Carajás fines have a brand premium/discount of 15 yuan/ton, and the rest are 0 yuan/ton. - The allowable ranges of iron grade and other quality indicators were adjusted, and more detailed divisions of quality premium/discounts were made. An X value is introduced to dynamically adjust the premium/discount of iron element indicators [11]. 3.4 Variety Spreads - The spreads between different iron ore varieties such as PB lump - PB fines, Carajás fines - Newman fines, etc. showed different degrees of change compared to the previous day [13].

Group 1: Report Overview - The report is the "Iron Ore Basis and Spread Monitoring Daily Report" by Guangda Futures Research, dated April 30, 2025 [1] Group 2: Futures Contract Information - For futures contracts, I05 closed at 764.0 today (up 1.0 from the previous day), I09 at 709.0 (down 1.5), and I01 at 684.5 (up 0.5) [2] - The I05 - I09 spread is 55.0 today (up 2.5), I09 - I01 is 24.5 (down 2.0), and I01 - I05 is -79.5 (down 0.5) [2] Group 3: Basis Data - For various iron ore varieties, the basis and its changes are presented. For example, the basis of Carajás fines is 96 today (up 2 from the previous day), and that of BRBF is 89 (down 2) [5] Group 4: Contract and Rule Adjustments - According to the Dalian Commodity Exchange, from the I2202 contract, 4 new deliverable varieties (Benxi Concentrate, IOC6, KUMBA, Ukrainian Concentrate) are added with a brand premium of 0 [11] - The brand premiums of existing varieties are adjusted. Only PB fines, BRBF, and Carajás fines have a brand premium of 15 yuan/ton, and others are 0 [11] - The allowable range of iron grade and other element indicators for substitutes is adjusted, and a dynamic adjustment mechanism for the premium of iron element indicators is introduced [11] - From the I2312 contract, Taigang Concentrate, Magang Concentrate, Minmetals Standard Fines, and SP10 Fines are added as deliverable brands with a brand premium of 0 [11] Group 5: Variety Spread Information - For variety spreads, the PB lump - PB fines spread is 141.0 today (up 5.0), and the PB fines - mixed fines spread is 96.0 (down 2.0) [13] Group 6: Research Team Introduction - The black research team includes Qiu Yuecheng, Zhang Xiaojin, Liu Xi, and Zhang Chunjie, each with rich experience and relevant qualifications [23]