Commodity Futures Market Data (Spot vs. Futures)

Zhengzhou Commodity Exchange (ZCE)

| Commodity | Spot Price | Nearest Contract | Dominant Contract | Price | Code | Price | Spot-Futures Basis 1 | Code | Price | Spot-Futures Basis 2 |
| :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- |
| PTA | 5151.86 | 2602 | 5142 | 9.86 (0.19%) | 2605 | 5174 | -22.14 (-0.43%) |
| White Sugar | 5286.67 | 2603 | 5256 | 30.67 (0.57%) | 2605 | 5243 | 43.67 (0.81%) |
| Cotton | 15986.00 | 2603 | 14675 | 1311.00 (8.20%) | 2605 | 14615 | 1371.00 (8.58%) |
| Rapeseed Oil (OI) | 9980.00 | 2603 | 9399 | 581.00 (5.82%) | 2605 | 9152 | 828.00 (8.30%) |
| Glass | 13.25 | 2602 | 9.81 | 3.44 (25.97%) | 2605 | 10.73 | 2.52 (19.02%) |
| Rapeseed Meal | 2558.00 | 2603 | 2350 | 208.00 (8.13%) | 2605 | 2244 | 314.00 (12.28%) |
| Thermal Coal | 710.00 | 2603 | 801.4 | -91.40 (-12.82%) | 2702 | 801.4 | -91.40 (-12.82%) |
| Ferrosilicon | 5287.14 | 2602 | 5388 | -100.86 (-1.89%) | 2605 | 5620 | -332.86 (-6.28%) |
| Silicon Manganese | 5566.00 | 2602 | 5780 | -214.00 (-3.84%) | 2605 | 5842 | -276.00 (-4.96%) |
| Methanol (MA) | 2210.00 | 2602 | 2233 | -23.00 (-1.04%) | 2605 | 2241 | -31.00 (-1.40%) |
| Cotton Yarn | 23625.00 | 2602 | 20215 | 3410.00 (14.43%) | 2605 | 20400 | 3225.00 (13.65%) |
| Urea | 1777.50 | 2602 | 1707 | 70.50 (3.94%) | 2605 | 1796 | -18.50 (-1.01%) |
| Soda Ash | 1201.43 | 2602 | 1147 | 54.43 (4.49%) | 2605 | 1181 | 20.43 (1.66%) |
| Polyester Staple Fiber | 6545.92 | 2602 | 6458 | 87.92 (1.33%) | 2604 | 6582 | -36.08 (-0.55%) |
| P-Xylene (PX) | 7650.00 | 2602 | 7462 | 188.00 (2.46%) | 2605 | 7254 | 396.00 (5.18%) |
| Caustic Soda | 622.00 | 2602 | 1995 | -51.00 (-2.62%) | 2603 | 1901 | 42.00 (2.16%) |
| PET Chip | 6327.50 | 2602 | 6124 | 203.50 (3.21%) | 2605 | 6126 | 201.50 (3.18%) |

Dalian Commodity Exchange (DCE)

| Commodity | Spot Price | Nearest Contract | Dominant Contract | Price | Code | Price | Spot-Futures Basis 1 | Code | Price | Spot-Futures Basis 2 |
| :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- |
| Palm Oil | 8972.00 | 2602 | 8902 | 70.00 (0.78%) | 2605 | 9002 | -30.00 (-0.33%) |
| PVC | 4678.00 | 2602 | 4710 | -32.00 (-0.68%) | 2605 | 4993 | -315.00 (-6.73%) |
| LLDPE | 6800.00 | 2602 | 6562 | 238.00 (3.50%) | 2605 | 6759 | 41.00 (0.60%) |
| No.1 Soybean | 4460.00 | 2603 | 4337 | 123.00 (2.76%) | 2605 | 4392 | 68.00 (1.52%) |
| Soybean Meal | 3170.00 | 2603 | 2996 | 174.00 (5.49%) | 2605 | 2745 | 425.00 (13.41%) |
| Soybean Oil | 8436.00 | 2603 | 8188 | 248.00 (2.94%) | 2605 | 8122 | 314.00 (3.72%) |
| Corn | 2271.43 | 2603 | 2267 | 4.43 (0.20%) | 2605 | 2276 | -4.57 (-0.20%) |
| Coke | 1443.75 | 2602 | 1518 | -74.25 (-5.13%) | 2605 | 1694 | -250.25 (-17.32%) |
| Coking Coal | 1466.25 | 2602 | 1022 | 444.25 (30.28%) | 2605 | 1138 | 328.25 (22.37%) |
| Iron Ore | 781.44 | 2602 | 808 | -26.56 (-3.33%) | 2605 | 761.5 | 19.94 (2.43%) |
| Egg | 7.05 | 2602 | 2839 | 686.00 (19.46%) | 2604 | 3152 | 373.00 (10.58%) |
| PP | 6640.00 | 2602 | 6544 | 96.00 (1.45%) | 2605 | 6659 | -19.00 (-0.29%) |
| MEG | 3848.33 | 2602 | 3505 | 343.33 (8.91%) | 2605 | 3741 | 107.33 (2.78%) |
| Styrene | 7688.00 | 2602 | 7600 | 88.00 (1.14%) | 2603 | 7547 | 141.00 (1.83%) |
| LPG | 4375.00 | 2602 | 4338 | 37.00 (0.85%) | 2604 | 4522 | -147.00 (-3.36%) |
| Live Hog | 12.53 | 2603 | 10710 | 1820.00 (14.53%) | 2605 | 11525 | 1005.00 (8.02%) |
| Benzene | 6086.67 | 2603 | 6056 | 30.67 (0.49%) | 2603 | 6056 | 30.67 (0.49%) |

Shanghai Futures Exchange (SHFE)

| Commodity | Spot Price | Nearest Contract | Dominant Contract | Price | Code | Price | Spot-Futures Basis 1 | Code | Price | Spot-Futures Basis 2 |
| :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- |
| Copper | 101646.67 | 2602 | 101490 | 156.67 (0.15%) | 2603 | 101510 | 136.67 (0.13%) |
| Rebar | 3170.00 | 2602 | 2924 | 246.00 (7.76%) | 2605 | 3069 | 101.00 (3.19%) |
| Zinc | 24656.00 | 2602 | 24630 | 26.00 (0.11%) | 2604 | 24620 | 36.00 (0.15%) |
| Aluminum | 23406.67 | 2602 | 23525 | -118.33 (-0.50%) | 2604 | 23670 | -263.33 (-1.12%) |
| Gold | 1121.91 | 2602 | 1121.72 | 0.19 (0.02%) | 2604 | 1115.86 | 6.05 (0.53%) |
| Wire Rod | 3367.50 | 2602 | 3500 | -132.50 (-3.92%) | 2605 | 3359 | 8.50 (0.24%) |
| Fuel Oil | 5375.00 | 2603 | 2801 | 2574.00 (47.89%) | 2605 | 2785 | 2590.00 (48.19%) |
| Natural Rubber | 16125.00 | 2603 | 16250 | -125.00 (-0.78%) | 2605 | 16195 | -70.00 (-0.43%) |
| Lead | 16506.25 | 2602 | 16505 | 1.25 (0.01%) | 2604 | 16605 | -98.75 (-0.59%) |
| Silver | 22331.67 | 2602 | 20774 | 1557.67 (6.97%) | 2604 | 19892 | 2439.67 (10.92%) |
| Petroleum Asphalt | 3230.00 | 2602 | 3345 | -115.00 (-3.56%) | 2604 | 3357 | -127.00 (-3.93%) |
| Hot-Rolled Coil | 3310.00 | 2602 | 3220 | 90.00 (2.72%) | 2605 | 3241 | 69.00 (2.08%) |
| Nickel | 138650.00 | 2602 | 133690 | 4960.00 (3.58%) | 2605 | 134190 | 4460.00 (3.22%) |
| Tin | 373387.50 | 2602 | 373610 | -222.50 (-0.06%) | 2603 | 369690 | 3697.50 (0.99%) |
| Pulp | 5366.67 | 2602 | 5128 | 238.67 (4.43%) | 2605 | 5220 | 146.67 (2.72%) |
| Stainless Steel | 14100.00 | 2602 | 13700 | 400.00 (2.84%) | 2604 | 13830 | 270.00 (1.91%) |
| Butadiene Rubber | 13020.00 | 2602 | 12745 | 275.00 (2.11%) | 2604 | 12785 | 235.00 (1.80%) |

Notes:

• Spot-Futures Basis = Spot Price - Futures Price. Values are presented as both absolute difference and percentage difference relative to the spot price.
• Price Units: Gold is in CNY/gram; Silver is in CNY/kilogram; Spot Glass is in CNY/square meter; all other commodities are in CNY/ton.
• Coke Specifications: Spot refers to secondary metallurgical coke. The futures contract specification is between primary and secondary grade. Therefore, the Coke basis is for reference only.