Report Industry Investment Rating - Not provided Core Viewpoints - 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 August 6, 2025 [1][4][5] Summary by Directory Cross - Market Arbitrage Tracking - Copper: On August 6, 2025, the domestic spot price was 78,625, the LME spot price was 9,647, and the spot import equilibrium ratio was 8.17 with a profit of - 172.87. The domestic three - month price was 78,580, the LME three - month price was 9,715, and the ratio was 8.08 [1] - Zinc: The domestic spot price was 22,310, the LME spot price was 2,759, and the spot import equilibrium ratio was 8.67 with a profit of - 1,611.98. The domestic three - month price was 22,390, the LME three - month price was 2,773, and the ratio was 6.01 [1] - Aluminum: The domestic spot price was 20,520, the LME spot price was 2,574, and the spot import equilibrium ratio was 8.50 with a profit of - 1,350.12. The domestic and LME three - month prices were both 20,530 and 2,574 respectively, and the ratio was 7.97 [1] - Nickel: The domestic spot price was 120,000, the LME spot price was 14,909, and the spot import equilibrium ratio was 8.26 with a profit of - 2,154.23 [1] - Lead: The domestic spot price was 16,525, the LME spot price was 1,927, and the spot import equilibrium ratio was 8.87 with a profit of - 486.97. The domestic three - month price was 16,770, the LME three - month price was 1,969, and the ratio was 11.34 [3] Cross - Period Arbitrage Tracking - Copper: On August 6, 2025, the spreads between the next month, three - month, four - month, and five - month contracts and the spot month were 230, 230, 210, and 160 respectively, while the theoretical spreads were 494, 886, 1286, and 1687 [4] - Zinc: The spreads were 120, 130, 125, and 110 respectively, and the theoretical spreads were 214, 335, 455, and 575 [4] - Aluminum: The spreads were - 15, - 45, - 85, and - 145 respectively, and the theoretical spreads were 214, 329, 444, and 559 [4] - Lead: The spreads were 75, 70, 95, and 135 respectively, and the theoretical spreads were 209, 313, 418, and 522 [4] - Nickel: The spreads were 420, 570, 740, and 980 respectively [4] - Tin: The 5 - 1 spread was - 810, and the theoretical spread was 5552 [4] Spot - Futures Arbitrage Tracking - Copper: The spreads between the current - month and next - month contracts and the spot were - 245 and - 15 respectively, and the theoretical spreads were 172 and 641 [4] - Zinc: The spreads were - 50 and 70 respectively, and the theoretical spreads were 119 and 249 [4] - Lead: The spreads were 175 and 250 respectively, and the theoretical spreads were 135 and 245 [5] Cross - Variety Arbitrage Tracking - On August 6, 2025, the ratios of copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, and lead/zinc for Shanghai (three - continuous) were 3.51, 3.83, 4.69, 0.92, 1.22, and 0.75 respectively, and for LME (three - continuous) were 3.49, 3.76, 4.88, 0.93, 1.30, and 0.72 respectively [5]
有色套利早报-20250806
Yong An Qi Huo·2025-08-06 03:21