Report Summary 1. Report Industry Investment Rating - No investment rating provided in the report 2. Core View of the Report - The report presents the cross - market, cross - period, spot - futures, and cross - variety arbitrage tracking data of non - ferrous metals (copper, zinc, aluminum, nickel, lead, and tin) on August 8, 2025 3. Summary by Relevant Catalogs Cross - Market Arbitrage Tracking - Copper: On August 8, 2025, the domestic spot price was 78,480, the three - month price was 78,470, the LME three - month price was 9,701, and the ratio was 8.08 [1] - Zinc: The domestic spot price was 22,520, the three - month price was 22,595, the LME three - month price was 2,814, and the ratio was 5.99 [1] - Aluminum: The domestic spot price was 20,690, the three - month price was 20,710, the LME three - month price was 2,631, and the ratio was 7.89 [1] - Nickel: The domestic spot price was 119,900, and the spot import profit was - 1,667.45 [1] - Lead: The domestic spot price was 16,700, the three - month price was 16,900, the LME three - month price was 2,006, and the ratio was 11.24 [2] Cross - Period Arbitrage Tracking - Copper: The spreads between the next month, three - month, four - month, and five - month contracts and the spot month were 190, 200, 170, and 110 respectively, while the theoretical spreads were 493, 885, 1285, and 1685 [3] - Zinc: The spreads were 225, 240, 250, and 235 respectively, and the theoretical spreads were 215, 336, 456, and 577 [3] - Aluminum: The spreads were 70, 30, - 20, and - 60 respectively, and the theoretical spreads were 214, 330, 445, and 561 [3] - Lead: The spreads were 80, 105, 135, and 155 respectively, and the theoretical spreads were 209, 314, 419, and 524 [3] - Nickel: The spreads were 1060, 1160, 1320, and 1560 respectively [3] - Tin: The 5 - 1 spread was 120, and the theoretical spread was 5559 [3] Spot - Futures Arbitrage Tracking - Copper: The spreads between the current - month and next - month contracts and the spot were - 200 and - 10 respectively, and the theoretical spreads were 152 and 614 [3] - Zinc: The spreads were - 165 and 60 respectively, and the theoretical spreads were 109 and 240 [3] - Lead: The spreads were 95 and 175 respectively, and the theoretical spreads were 116 and 228 [4] Cross - Variety Arbitrage Tracking - On August 8, 2025, the ratios of copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, and lead/zinc for Shanghai (three - continuous contracts) were 3.47, 3.79, 4.64, 0.92, 1.23, and 0.75 respectively [4]
有色套利早报-20250808
Yong An Qi Huo·2025-08-08 00:50