Report Summary 1) Report Industry Investment Rating No investment rating information is provided in the report. 2) Core View The report presents cross - market, cross - period, and cross - variety arbitrage tracking data for non - ferrous metals including copper, zinc, aluminum, nickel, lead, and tin on July 30, 2025, to help investors find potential arbitrage opportunities [1][4][5]. 3) Summary by Related Catalogs Cross - Market Arbitrage Tracking - Copper: Spot price is 79,030 (domestic) and 9,706 (LME), with a ratio of 8.15; March price is 78,860 (domestic) and 9,758 (LME), ratio 8.09. Spot import equilibrium ratio is 8.17, profit is - 398.80 [1]. - Zinc: Spot price is 22,580 (domestic) and 2,804 (LME), ratio 8.05; March price is 22,675 (domestic) and 2,808 (LME), ratio 6.03. Spot import equilibrium ratio is 8.65, profit is - 1,685.62 [1]. - Aluminum: Spot price is 20,620 (domestic) and 2,616 (LME), ratio 7.88; March price is 20,590 (domestic) and 2,619 (LME), ratio 7.86. Spot import equilibrium ratio is 8.51, profit is - 1,652.64 [1]. - Nickel: Spot price is 120,300 (domestic) and 15,004 (LME), ratio 8.02. Spot import equilibrium ratio is 8.25, profit is - 1,795.71 [1]. - Lead: Spot price is 16,750 (domestic) and 1,984 (LME), ratio 8.46; March price is 16,915 (domestic) and 2,016 (LME), ratio 11.22. Spot import equilibrium ratio is 8.85, profit is - 772.80 [3]. Cross - Period Arbitrage Tracking - Copper: The spreads between the next - month, March, April, May and the spot - month are - 160, - 140, - 180, - 240 respectively, while the theoretical spreads are 497, 892, 1296, 1700 [4]. - Zinc: The spreads are 40, 60, 40, - 10, and the theoretical spreads are 216, 338, 460, 582 [4]. - Aluminum: The spreads are - 40, - 55, - 110, - 165, and the theoretical spreads are 214, 329, 445, 560 [4]. - Lead: The spreads are 20, 35, 55, 110, and the theoretical spreads are 209, 315, 420, 526 [4]. - Nickel: The spreads are 300, 430, 610, 870 [4]. - Tin: The 5 - 1 spread is 1060, theoretical spread is 5526 [4]. Spot - Futures Arbitrage Tracking - Copper: The spreads of the current - month and next - month contracts to the spot are - 10 and - 170, and the theoretical spreads are 296 and 710 [4]. - Zinc: The spreads are 35 and 75, and the theoretical spreads are 146 and 278 [4]. - Lead: The spreads are 130 and 150, and the theoretical spreads are 151 and 263 [5]. Cross - Variety Arbitrage Tracking - Domestic (Three - Consecutive Contracts): Copper/zinc is 3.48, copper/aluminum is 3.83, copper/lead is 4.66, aluminum/zinc is 0.91, aluminum/lead is 1.22, lead/zinc is 0.75 [5]. - LME (Three - Consecutive Contracts): Copper/zinc is 3.49, copper/aluminum is 3.76, copper/lead is 4.86, aluminum/zinc is 0.93, aluminum/lead is 1.29, lead/zinc is 0.72 [5].
有色套利早报-20250730
Yong An Qi Huo·2025-07-30 04:05