How to calculate the current basis of iron ore

Usually the formula can be expressed as: basis = spot price-futures price. For example, in September 2009 19, the price of imported iron ore with 62% grade dry base powder was 152.4 yuan/ton, which means that the price of imported iron ore with 62% grade dry base powder was higher than that of Dashang I 200 1 futures 152.4 yuan/ton.

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