有色套利早报-20250827

Report Overview - The report provides cross - market, cross - period, spot - futures, and cross - variety arbitrage tracking data for various non - ferrous metals on August 27, 2025 [1] Cross - Market Arbitrage Tracking Copper - Spot price: domestic 79,550, LME 9,720, ratio 8.21; March price: domestic 79,180, LME 9,805, ratio 8.11; equilibrium ratio for spot import 8.14; spot export profit - 660.06 [1] Zinc - Spot price: domestic 22,280, LME 2,794, ratio 7.97; March price: domestic 22,265, LME 2,799, ratio 6.04; equilibrium ratio for spot import 8.63; spot import profit - 1,820.78 [1] Aluminum - Spot price: domestic 20,780, LME 2,617, ratio 7.94; March price: domestic 20,705, LME 2,614, ratio 7.93; equilibrium ratio for spot import 8.43; spot import profit - 1,287.62 [1] Nickel - Spot price: domestic 119,350, LME 14,885, ratio 8.02; equilibrium ratio for spot import 8.22; spot import profit - 1,806.58 [1] Lead - Spot price: domestic 16,750, LME 1,965, ratio 8.55; March price: domestic 16,920, LME 2,004, ratio 11.15; equilibrium ratio for spot import 8.82; spot import profit - 531.05 [3] Cross - Period Arbitrage Tracking Copper - Spreads for次月 - 现货月, 三月 - 现货月, 四月 - 现货月, 五月 - 现货月 are - 500, - 510, - 530, - 550 respectively; theoretical spreads are 500, 899, 1306, 1714 [4] Zinc - Spreads for次月 - 现货月, 三月 - 现货月, 四月 - 现货月, 五月 - 现货月 are - 105, - 110, - 105, - 110 respectively; theoretical spreads are 215, 336, 457, 578 [4] Aluminum - Spreads for次月 - 现货月, 三月 - 现货月, 四月 - 现货月, 五月 - 现货月 are - 70, - 80, - 115, - 150 respectively; theoretical spreads are 215, 331, 447, 563 [4] Lead - Spreads for次月 - 现货月, 三月 - 现货月, 四月 - 现货月, 五月 - 现货月 are 85, 75, 85, 90 respectively; theoretical spreads are 209, 314, 420, 525 [4] Nickel - Spreads for次月 - 现货月, 三月 - 现货月, 四月 - 现货月, 五月 - 现货月 are 300, 410, 630, 870 respectively [4] Tin - 5 - 1 spread 640; theoretical spread 5591 [4] Spot - Futures Arbitrage Tracking Copper - Spreads for当月合约 - 现货, 次月合约 - 现货 are 140, - 360 respectively; theoretical spreads are 366, 734 [4] Zinc - Spreads for当月合约 - 现货, 次月合约 - 现货 are 95, - 10 respectively; theoretical spreads are 146, 276 [4] Lead - Spreads for当月合约 - 现货, 次月合约 - 现货 are 95, 180 respectively; theoretical spreads are 157, 269 [5] Cross - Variety Arbitrage Tracking - Ratios for copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, lead/zinc in Shanghai (three - continuous) are 3.56, 3.82, 4.68, 0.93, 1.22, 0.76 respectively; in London (three - continuous) are 3.50, 3.73, 4.95, 0.94, 1.33, 0.71 respectively [5]