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 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