Report Industry Investment Rating - No relevant information provided Core View - The report presents cross - market, cross - period, spot - futures, and cross - variety arbitrage tracking data for non - ferrous metals including copper, zinc, aluminum, nickel, lead, and tin on May 8, 2025 [1][4][5] Summary by Related Catalogs Cross - Market Arbitrage Tracking - Copper: On May 8, 2025, the domestic spot price was 78,575, LME price was 9,498, and the ratio was 8.23; the three - month domestic price was 77,410, LME price was 9,477, and the ratio was 8.22. The equilibrium ratio for spot import was 8.27, with a profit of 52.52, and the profit for spot export was - 1.20 [1] - Zinc: The domestic spot price was 22,840, LME price was 2,582, and the ratio was 8.85; the three - month domestic price was 21,955, LME price was 2,619, and the ratio was 6.36. The equilibrium ratio for spot import was 8.75, with a profit of 236.34 [1] - Aluminum: The domestic spot price was 19,620, LME price was 2,369, and the ratio was 8.27; the three - month domestic price was 19,400, LME price was 2,398, and the ratio was 8.16. The equilibrium ratio for spot import was 8.76, with a profit of - 1153.53 [1] - Nickel: The domestic spot price was 125,650, LME price was 15,479, and the ratio was 8.12. The equilibrium ratio for spot import was 8.31, with a profit of - 3755.62 [1] - Lead: The domestic spot price was 16,600, LME price was 1,907, and the ratio was 8.68; the three - month domestic price was 16,690, LME price was 1,924, and the ratio was 11.57. The equilibrium ratio for spot import was 8.97, with a profit of - 562.77 [3] Cross - Period Arbitrage Tracking - Copper: The spreads for the next month, three - month, four - month, and five - month relative to the spot month were - 120, - 500, - 860, and - 1170 respectively, while the theoretical spreads were 492, 881, 1280, and 1678 [4] - Zinc: The spreads were - 555, - 810, - 965, and - 1040, and the theoretical spreads were 217, 340, 462, and 585 [4] - Aluminum: The spreads were - 460, - 525, - 565, and - 585, and the theoretical spreads were 211, 322, 434, and 546 [4] - Lead: The spreads were 80, 70, 65, and 50, and the theoretical spreads were 208, 312, 416, and 520 [4] - Nickel: The spreads were 0, 200, 390, and 530 [4] - Tin: The 5 - 1 spread was - 320, and the theoretical spread was 5421 [4] Spot - Futures Arbitrage Tracking - Copper: The spreads for the current - month and next - month contracts relative to the spot were - 665 and - 785, and the theoretical spreads were 86 and 503 [4] - Zinc: The spreads were - 75 and - 630, and the theoretical spreads were 9 and 142 (also mentioned as 146 and 197) [4][5] - Lead: The spreads were 20 and 100, and the theoretical spreads were 105 and 216 [5] Cross - Variety Arbitrage Tracking - On May 8, 2025, the ratios of copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, and lead/zinc for Shanghai (three - continuous) were 3.53, 3.99, 4.64, 0.88, 1.16, and 0.76 respectively; for LME (three - continuous) were 3.60, 3.95, 4.81, 0.91, 1.22, and 0.75 [5]
有色套利早报-20250508
Yong An Qi Huo·2025-05-08 01:25