Report Industry Investment Rating - No information provided Report's Core View - The report provides 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 9, 2025 [1][4][5] Summary by Related Catalogs Cross - Market Arbitrage Tracking - Copper: On May 9, 2025, the domestic spot price was 78,450, the LME price was 9,409, and the ratio was 8.33. The equilibrium ratio for spot import was 8.29, with a profit of - 252.05. The profit for spot export was - 332.50. The ratio for the three - month contract was 8.30 [1] - Zinc: The domestic spot price was 22,850, the LME price was 2,569, and the ratio was 8.90. The equilibrium ratio for spot import was 8.78, with a profit of 308.41. The ratio for the three - month contract was 6.45 [1] - Aluminum: The domestic spot price was 19,620, the LME price was 2,376, and the ratio was 8.26. The equilibrium ratio for spot import was 8.78, with a profit of - 1,237.36. The ratio for the three - month contract was 8.22 [1] - Nickel: The domestic spot price was 125,000, the LME price was 15,323, and the ratio was 8.16. The equilibrium ratio for spot import was 8.33, with a profit of - 4,119.54 [1] - Lead: The domestic spot price was 16,700, the LME price was 1,934, and the ratio was 8.60. The equilibrium ratio for spot import was 8.98, with a profit of - 745.16. The ratio for the three - month contract was 11.50 [3] Cross - Period Arbitrage Tracking - Copper: On May 9, 2025, the spreads between the next month, three - month, four - month, and five - month contracts and the spot month were - 830, - 1,380, - 1,830, and - 2,240 respectively, while the theoretical spreads were 493, 884, 1,283, and 1,683 respectively [4] - Zinc: The spreads were - 500, - 755, - 915, and - 1,000 respectively, and the theoretical spreads were 216, 339, 461, and 584 respectively [4] - Aluminum: The spreads were - 70, - 170, - 230, and - 235 respectively, and the theoretical spreads were 209, 319, 429, and 539 respectively [4] - Lead: The spreads were 125, 135, 115, and 110 respectively, and the theoretical spreads were 208, 313, 417, and 521 respectively [4] - Nickel: The spreads were - 610, - 410, - 210, and 20 respectively [4] - Tin: The 5 - 1 spread was - 50, and the theoretical spread was 5,415 [4] Spot - Futures Arbitrage Tracking - Copper: The spreads between the current - month and next - month contracts and the spot were - 260 and - 1,090 respectively, and the theoretical spreads were 126 and 439 respectively [4] - Zinc: The spreads were - 175 and - 675 respectively, and the theoretical spreads were - 2 and 131 respectively [4] - Lead: The spreads were - 50 and 75 respectively, and the theoretical spreads were 91 and 203 respectively [5] Cross - Variety Arbitrage Tracking - On May 9, 2025, the ratios of copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, and lead/zinc for the Shanghai (three - continuous) contracts were 3.50, 3.96, 4.57, 0.89, 1.16, and 0.77 respectively. The ratios for the LME (three - continuous) contracts were 3.60, 3.91, 4.85, 0.92, 1.24, and 0.74 respectively [5]
有色套利早报-20250509
Yong An Qi Huo·2025-05-09 06:22