Report Industry Investment Rating - No information provided Core View - The report presents cross - market, cross - period, spot - futures, and cross - variety arbitrage tracking data for various non - ferrous metals including copper, zinc, aluminum, nickel, lead, and tin on August 4, 2025 [1][4][5] Summary by Category Cross - Market Arbitrage Tracking - Copper: Spot price is 78370 in domestic and 9595 in LME with a ratio of 8.16; March price is 78390 in domestic and 9645 in LME with a ratio of 8.11. Spot import equilibrium ratio is 8.19 with a profit of - 18.16; spot export profit is - 12.21 [1] - Zinc: Spot price is 22310 in domestic and 2740 in LME with a ratio of 8.14; March price is 22330 in domestic and 2751 in LME with a ratio of 6.04. Spot import equilibrium ratio is 8.68 with a profit of - 1484.30 [1] - Aluminum: Spot price is 20520 in domestic and 2572 in LME with a ratio of 7.98; March price is 20465 in domestic and 2575 in LME with a ratio of 7.95. Spot import equilibrium ratio is 8.51 with a profit of - 1364.15 [1] - Nickel: Spot price is 118650 in domestic and 14742 in LME with a ratio of 8.05. Spot import equilibrium ratio is 8.27 with a profit of - 1639.80 [1] - Lead: Spot price is 16450 in domestic and 1925 in LME with a ratio of 8.60; March price is 16745 in domestic and 1967 in LME with a ratio of 11.37. Spot import equilibrium ratio is 8.88 with a profit of - 549.50 [3] Cross - Period Arbitrage Tracking - Copper: The spreads of次月 - 现货月, 三月 - 现货月, 四月 - 现货月, 五月 - 现货月 are 300, 290, 230, 200 respectively; the theoretical spreads are 493, 883, 1283, 1682 respectively [4] - Zinc: The spreads of次月 - 现货月, 三月 - 现货月, 四月 - 现货月, 五月 - 现货月 are - 35, - 25, - 30, - 55 respectively; the theoretical spreads are 215, 336, 456, 577 respectively [4] - Aluminum: The spreads of次月 - 现货月, 三月 - 现货月, 四月 - 现货月, 五月 - 现货月 are - 70, - 115, - 160, - 210 respectively; the theoretical spreads are 214, 329, 444, 559 respectively [4] - Lead: The spreads of次月 - 现货月, 三月 - 现货月, 四月 - 现货月, 五月 - 现货月 are 295, 305, 325, 280 respectively; the theoretical spreads are 207, 310, 414, 517 respectively [4] - Nickel: The spreads of次月 - 现货月, 三月 - 现货月, 四月 - 现货月, 五月 - 现货月 are 770, 900, 1160, 1400 respectively [4] - Tin: The 5 - 1 spread is 1150 and the theoretical spread is 5510 [4] Spot - Futures Arbitrage Tracking - Copper: The spreads of当月合约 - 现货 and 次月合约 - 现货 are - 205 and 95 respectively; the theoretical spreads are 230 and 707 respectively [4] - Zinc: The spreads of当月合约 - 现货 and 次月合约 - 现货 are 45 and 10 respectively; the theoretical spreads are 136 and 250 respectively [5] - Lead: The spreads of当月合约 - 现货 and 次月合约 - 现货 are - 10 and 285 respectively; the theoretical spreads are 122 and 233 respectively [5] Cross - Variety Arbitrage Tracking - The ratios of沪（三连） for copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, lead/zinc are 3.51, 3.83, 4.68, 0.92, 1.22, 0.75 respectively; the ratios of伦（三连） are 3.53, 3.75, 4.88, 0.94, 1.30, 0.72 respectively [5]
有色套利早报-20250804
Yong An Qi Huo·2025-08-04 13:48