Report Summary 1. Report Industry Investment Rating - No investment rating information is provided in the report. 2. Core Viewpoint - No core viewpoint is presented in the report. 3. Summary by Relevant Catalog Spot Market - **Price Changes**: The prices of various iron ore varieties showed different degrees of decline. For example, the price of Newman powder decreased by 12 yuan per ton compared to the previous day and 15 yuan per ton compared to the previous week [3]. - **Import Profits**: The import profits of different varieties also varied. The import profit of mixed powder was 18.16 yuan per ton, while that of PB powder was -10.59 yuan per ton [3]. Futures Market - **Price Movements**: The prices of iron ore futures contracts on the Dalian Commodity Exchange (DCE) and the Singapore Exchange (SGX) generally declined. For instance, the price of the i2601 contract on the DCE decreased by 15.5 yuan per ton compared to the previous day and 17.5 yuan per ton compared to the previous week [3]. - **Spread Changes**: The monthly spreads between different contracts also changed. The spread between i2601 and i2605 increased by 4.5 yuan per ton compared to the previous day and 6.4 yuan per ton compared to the previous week [3].

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Report Information - Report Title: Iron Ore Morning Report - Research Team: Black Team of the Research Center - Date: June 23, 2025 [1] Spot Market - **Price Changes**: The prices of various iron ore varieties showed different daily and weekly changes. For example, the price of Newman powder increased by 5 to 703, with a weekly decrease of 5; the price of PB powder increased by 2 to 710, with a weekly decrease of 9 [2]. - **Import Profits**: Import profits also varied among different varieties. The import profit of mixed powder was 8.94, while that of Newman powder was -29.20 [2]. Futures Market - **DCE Contracts**: The prices of DCE iron ore contracts i2601, i2605, and i2509 all showed increases on the day, with changes of 2.0, 2.5, and 5.0 respectively. The weekly changes were 1.5, 3.0, and 0.0 respectively [2]. - **SGX Contracts**: The prices of SGX contracts FE01, FE05, and FE09 had different changes. FE01 decreased by 0.22 to 90.22, with a weekly decrease of 1.74 [2]. Basis and Spread - **Basis**: The basis between spot and futures also showed changes. For example, the basis of i2601 was 68.1, with a daily decrease of 0.9 and a weekly decrease of 11.1 [2]. - **Inter - monthly Spread**: The inter - monthly spreads of different contracts also varied. The inter - monthly spread of i2601 was 29.0 [2].

| | | | | | 现货 | | | | | 远期 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 地区 | 品种 | 最新 | 日变化 | | 周变化 | | 折盘面 | 最新 | 日变化 | 周变化 | 进口利润 | | | 普氏62指数 | | 99.15 | 1.00 | | -0.25 | | | | | | | | | | 纽曼粉 | 755 | 2 | | 2 | | 807.4 | 95.80 | 1.00 | 0.60 | -27.25 | | | | PB粉 | 762 | 3 | | 1 | | 807.5 | 98.65 | 0.65 | 0.45 | -8.02 | | | 澳洲 | 麦克粉 | 738 | 0 | | 0 | | 806.2 | 93.80 | 0.50 | 0.60 | -5.49 | | | | 金布巴 | 723 | 2 | | 5 | | 814.0 | 89.95 | 0.55 | 1.20 | 3.41 | | | 主流 ...

研究中心黑色团队 2025/4/30 | | | | | 现货 | | | 远期 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 地区 | 品种 | 最新 | 日变化 | 周变化 | 折盘面 | 最新 | 日变化 | 周变化 | 进口利润 | | 普氏62指数 | | 99.40 | 0.20 | -0.70 | | | | | | | 纽曼粉 | | 756 | -2 | -8 | 808.5 | 95.20 | 0.50 | -1.00 | -21.54 | | PB粉 | | 762 | -2 | -10 | 807.5 | 98.20 | -0.05 | -1.25 | -4.64 | | 澳洲 | 麦克粉 | 740 | 0 | -13 | 808.4 | 93.20 | -0.20 | -1.45 | 1.07 | | 金布巴 | | 720 | -1 | -9 | 810.8 | 88.75 | -0.10 | -2.00 | 9.61 | | 主流 | 混合粉 | 666 | 0 | -18 | 790 ...