Comparison Table of Spot and Futures Prices for Commodities on January 8

Zhengzhou Commodity Exchange (ZCE)

Commodity	Spot Price	Nearest Contract	Dominant Contract	Price	Code	Price	Spot-Fut Basis 1
PTA	5078.66	2601	5070	8.66 (0.17%)	2605	5120	-41.34 (-0.81%)
White Sugar	5356.67	2601	5316	40.67 (0.75%)	2605	5283	73.67 (1.36%)
Cotton	15995.00	2601	14990	1005 (6.28%)	2605	14865	1130 (7.06%)
Rapeseed Oil (OI)	9862.00	2601	9603	259 (2.63%)	2605	9009	853 (8.65%)
Glass	12.83	2601	1014	269 (1.17%)*	2605	1151	-138 (-12.08%)*
Rapeseed Meal	2508.00	2601	2831	-323 (-12.88%)	2605	2379	129 (5.14%)
Thermal Coal	700.00	2601	801.4	-101.4 (-14.43%)	2612	801.4	-101.4 (-14.43%)
Ferrosilicon	5414.29	2601	5470	-55.71 (-1.02%)	2603	5744	-329.71 (-6.08%)
Silicon Manganese	5592.00	2601	5918	-326 (-5.83%)	2603	5948	-356 (-6.37%)
Methanol (MA)	2240.83	2601	2206	34.83 (1.52%)	2605	2243	-2.17 (-0.10%)
Cotton Yarn	23600.00	2601	20225	3375 (14.30%)	2603	20925	2675 (11.33%)
Urea	1742.50	2601	1693	49.5 (2.81%)	2605	1781	-38.5 (-2.18%)
Soda Ash	1218.57	2601	1155	63.57 (5.17%)	2605	1248	-29.43 (-2.38%)
Polyester Staple Fiber	6525.63	2601	6456	69.63 (1.06%)	2603	6520	5.63 (0.08%)
P-Xylene (PX)	7500.00	2601	7282	218 (2.91%)	2603	7242	258 (3.44%)
Caustic Soda	728.00	2601	1932	-1204 (-165.08%)	2603	2239	-1511 (-207.58%)
PET Bottle Chip	6087.50	2601	5908	179.5 (2.94%)	2603	6044	43.5 (0.71%)

Dalian Commodity Exchange (DCE)

Commodity	Spot Price	Nearest Contract	Dominant Contract	Price	Code	Price	Spot-Fut Basis 1
Palm Oil	8600.00	2601	8466	134 (1.56%)	2605	8630	-30 (-0.35%)
Polyvinyl Chloride (PVC)	4567.00	2601	4610	-43 (-0.94%)	2605	4933	-366 (-8.01%)
Polyethylene (LLDPE)	6615.00	2601	6440	175 (2.65%)	2605	6663	-48 (-0.73%)
Soybean No.1	4435.00	2601	4314	121 (2.73%)	2605	4378	57 (1.29%)
Soybean Meal	3190.00	2601	3147	43 (1.35%)	2605	2804	386 (12.10%)
Soybean Oil	8308.00	2601	8248	60 (0.72%)	2605	7968	340 (4.09%)
Corn	2248.57	2601	2285	-36.43 (-1.60%)	2603	2250	-1.43 (-0.06%)
Coke	1442.50	2601	1500	-57.5 (-3.95%)	2605	1780.5	-338 (-23.43%)
Coking Coal	1421.25	2601	1164	257.25 (18.08%)	2605	1204	217.25 (15.27%)
Iron Ore	842.78	2601	853	-10.22 (-1.19%)	2605	820.5	22.28 (2.61%)
Egg	6.67	2601	3157	-3490.33 (-523.34%)*	2603	3026	-3019.33 (-452.77%)*
Polypropylene (PP)	6326.67	2601	6301	25.67 (0.40%)	2605	6496	-169.33 (-2.67%)
Monoethylene Glycol (MEG)	3818.33	2601	3656	162.33 (4.24%)	2605	3861	-42.67 (-1.10%)
Styrene (EB)	6792.00	2601	6711	81 (1.19%)	2602	6828	-36 (-0.53%)
Liquefied Petroleum Gas (LPG)	4435.00	2601	4255	180 (4.06%)	2603	4133	302 (6.81%)
Live Hog	12.70	2601	11855	-11842.3 (-932.46%)*	2603	11780	-11767.3 (-926.56%)*
Benzene	5220.00	2603	5465	-245 (-4.69%)	2603	5465	-245 (-4.69%)

Shanghai Futures Exchange (SHFE)

Commodity	Spot Price	Nearest Contract	Dominant Contract	Price	Code	Price	Spot-Fut Basis 1
Copper	102418.33	2601	101570	848.33 (0.83%)	2603	101970	448.33 (0.44%)
Rebar	3255.00	2601	3124	131 (4.02%)	2605	3179	76 (2.33%)
Zinc	24158.00	2601	24015	143 (0.59%)	2603	24090	68 (0.28%)
Aluminum	24031.67	2601	23940	91.67 (0.38%)	2603	24015	16.67 (0.07%)
Gold	999.48	2601	991.62	7.86 (0.79%)	2602	999.7	-0.22 (-0.02%)
Wire Rod	3500.00	2601	3600	-100 (-2.86%)	2605	3496	4 (0.11%)
Fuel Oil	5262.50	2602	2471	2791.5 (530.04%)	2603	2458	2804.5 (532.80%)
Natural Rubber	15850.00	2601	16195	-345 (-2.18%)	2605	16185	-335 (-2.11%)
Lead	17400.00	2601	17430	-30 (-0.17%)	2603	17535	-135 (-0.78%)
Silver	19157.67	2601	18899	258.67 (1.35%)	2604	18901	256.67 (1.34%)
Petroleum Asphalt	3100.00	2601	3117	-17 (-0.55%)	2603	3155	-55 (-1.77%)
Hot-Rolled Coil (HRC)	3336.67	2601	3301	35.67 (1.05%)	2605	3328	8.67 (0.24%)
Nickel	149350.00	2601	142330	7020 (4.70%)	2602	142910	6440 (4.31%)
Tin	354412.50	2601	350780	3632.5 (1.02%)	2602	352830	1582.5 (0.45%)
Paper Pulp	5616.67	2601	5466	150.67 (2.67%)	2605	5532	84.67 (1.50%)
Stainless Steel	13616.67	2601	13525	91.67 (0.67%)	2603	13825	-208.33 (-1.53%)
Butadiene Rubber (BR)	11960.00	2601	12170	-210 (-1.76%)	2603	12310	-350 (-2.93%)

Notes:

Spot-Fut Basis = Spot Price - Futures Price
Price Units: Gold: CNY/gram; Silver: CNY/kilogram; Glass (spot): CNY/square meter; All other commodities: CNY/ton.
Coke Specifications: Spot price is for Secondary Metallurgical Coke. Futures contract specifications are between Primary and Secondary grade. The Coke basis is for reference only.
* Note on Basis Calculation for Specific Contracts: For Glass (ZCE), Egg (DCE), and Live Hog (DCE), the basis calculation involves unit conversion (spot unit vs. futures contract unit, typically CNY/ton for futures). The percentage shown reflects the basis relative to the spot price in its original unit. The absolute basis value for Glass is in CNY/ton equivalent. For Egg and Live Hog, the absolute basis appears large due to the significant unit difference (e.g., CNY/500kg for egg futures vs. CNY/kg for spot).

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