Report Summary Industry Investment Rating - No industry investment rating information is provided in the reports [1][2][3] Core View - The reports present the cross - market, cross - period, spot - futures, and cross - variety arbitrage tracking data of non - ferrous metals including copper, zinc, aluminum, nickel, lead, and tin on August 12, 2025 [1][3] Summary by Related Catalogs Cross - Market Arbitrage Tracking - Copper: On August 12, 2025, the domestic spot price was 79140, LME spot price was 9676, and the spot ratio was 8.12. The equilibrium ratio for spot import was 8.18 with a profit of - 117.15. The domestic three - month price was 79050, LME three - month price was 9759, and the three - month ratio was 8.10 [1] - Zinc: The domestic spot price was 22530, LME spot price was 2836, and the spot ratio was 7.94. The equilibrium ratio for spot import was 8.66 with a profit of - 2036.17. The domestic three - month price was 22610, LME three - month price was 2840, and the three - month ratio was 5.94 [1] - Aluminum: The domestic spot price was 20630, LME spot price was 2609, and the spot ratio was 7.91. The equilibrium ratio for spot import was 8.50 with a profit of - 1542.06. The domestic three - month price was 20690, LME three - month price was 2617, and the three - month ratio was 7.89 [1] - Nickel: The domestic spot price was 120900, LME spot price was 15028, and the spot ratio was 8.05. The equilibrium ratio for spot import was 8.26 with a profit of - 1921.73 [1] - Lead: The domestic spot price was 16725, LME spot price was 1974, and the spot ratio was 8.47. The domestic three - month price was 16885, LME three - month price was 2009, and the three - month ratio was 11.24. The equilibrium ratio for spot import was 8.86 with a profit of - 765.90 [3] Cross - Period Arbitrage Tracking - Copper: On August 12, 2025, the spreads of the next - month, three - month, four - month, and five - month contracts relative to the spot month were 560, 590, 570, and 560 respectively, while the theoretical spreads were 494, 887, 1288, and 1689 [3] - Zinc: The spreads were 90, 110, 115, and 100 respectively, and the theoretical spreads were 216, 337, 459, and 580 [3] - Aluminum: The spreads were 5, - 5, - 40, and - 80 respectively, and the theoretical spreads were 214, 330, 445, and 561 [3] - Lead: The spreads were 95, 95, 115, and 160 respectively, and the theoretical spreads were 209, 314, 419, and 524 [3] - Nickel: The spreads of the next - month, three - month, four - month, and five - month contracts relative to the spot month were 1180, 1330, 1500, and 1730 [3] - Tin: The 5 - 1 spread was 1110, and the theoretical spread was 5566 [3] Spot - Futures Arbitrage Tracking - Copper: The spreads of the current - month and next - month contracts relative to the spot were - 635 and - 75 respectively, and the theoretical spreads were 26 and 546 [3] - Zinc: The spreads were - 30 and 60 respectively, and the theoretical spreads were 92 and 223 (also mentioned with theoretical spreads of 96 and 221) [3] - Lead: The spreads of the current - month and next - month contracts relative to the spot were 65 and 160 respectively, and the theoretical spreads were 97 and 209 [3] Cross - Variety Arbitrage Tracking - On August 12, 2025, for cross - variety arbitrage, the ratios of copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, and lead/zinc in Shanghai (three - continuous contracts) were 3.50, 3.82, 4.68, 0.92, 1.23, and 0.75 respectively, and in London (three - continuous contracts) were 3.45, 3.76, 4.87, 0.92, 1.30, and 0.71 respectively [3]
有色套利早报-20250812
Yong An Qi Huo·2025-08-12 00:44