Report Summary 1) Report Industry Investment Rating No information provided. 2) Report's 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 August 13, 2025, which helps investors understand the current price relationships and potential arbitrage opportunities in the non - ferrous metals market [1][4][5]. 3) Summary by Related Catalogs Cross - Market Arbitrage Tracking - Copper: On August 13, 2025, the domestic spot price was 79,160, the LME price was 9,681, and the spot import equilibrium ratio was 8.17 with a profit of 84.82. The March price had a ratio of 8.09 [1]. - Zinc: The domestic spot price was 22,510, the LME price was 2,823, and the spot import equilibrium ratio was 8.66 with a profit of - 1927.11. The March price ratio was 5.99 [1]. - Aluminum: The domestic spot price was 20,640, the LME price was 2,600, and the spot import equilibrium ratio was 8.49 with a profit of - 1445.13. The March price ratio was 7.94 [1]. - Nickel: The domestic spot price was 121,600, the LME price was 15,079, and the spot import equilibrium ratio was 8.25 with a profit of - 2046.03 [1]. - Lead: The domestic spot price was 16,775, the LME price was 1,966, and the spot import equilibrium ratio was 8.86 with a profit of - 633.39. The March price ratio was 11.25 [3]. Cross - Period Arbitrage Tracking - Copper: On August 13, 2025, the spreads between the next month, March, April, and May and the spot month were 0, 60, 20, and 10 respectively, while the theoretical spreads were 497, 892, 1296, and 1700 [4]. - Zinc: The spreads were 35, 55, 55, and 35 respectively, and the theoretical spreads were 216, 338, 460, and 582 [4]. - Aluminum: The spreads were 15, - 15, - 60, and - 80 respectively, and the theoretical spreads were 215, 330, 446, and 561 [4]. - Lead: The spreads were 80, 90, 105, and 135 respectively, and the theoretical spreads were 209, 314, 420, and 525 [4]. - Nickel: The spreads were 540, 670, 840, and 1120 respectively [4]. - Tin: The 5 - 1 spread was 1330, and the theoretical spread was 5601 [4]. Cross - Variety Arbitrage Tracking On August 13, 2025, the ratios of copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, and lead/zinc in Shanghai (three - continuous) were 3.49, 3.82, 4.67, 0.91, 1.22, and 0.75 respectively, and in London (three - continuous) were 3.46, 3.76, 4.88, 0.92, 1.30, and 0.71 respectively [5].
有色套利早报-20250813
Yong An Qi Huo·2025-08-13 03:15